In a monumental leap forward for Uganda’s telecommunications sector, TowerCo of Africa Uganda, a subsidiary of the pan-African telecom juggernaut Axian Telecom, has just clinched a jaw-dropping US$40 million in long-term financing.
Facilitated by prestigious European development finance partners including the European Investment Bank, the Development Bank of Austria, and the Belgian Investment Company for Developing countries, this transformative investment is poised to catapult Uganda’s mobile network coverage into an era of unprecedented connectivity and empowerment.
Uganda, grappling with a stark reality of only 65% mobile network coverage, has long yearned for a solution to bridge the gaping digital divide.
TowerCo of Africa Uganda’s audacious investment endeavors to address this pressing issue head-on. Through the strategic installation of a remarkable 506 new telecom towers, meticulously positioned in rural areas deprived of adequate network access, the initiative promises to unlock digital empowerment and drive economic advancement on an unparalleled scale.
These cutting-edge towers, engineered to harness the power of renewable energy sources, represent more than just infrastructure; they symbolize a beacon of hope for rural communities.
Equipped with the latest 4G and 5G data services, mobile money solutions, and vital financial inclusion opportunities, these towers are poised to transform lives and catalyze progress in the most remote corners of Uganda.
Geoffrey Donnels Oketayot, the CEO of TowerCo of Africa Uganda, hailed the financing as a monumental step towards realizing the shared vision of connecting communities and fostering economic growth in the heart of Africa.
“This new financing backing from European development finance partners is a testament to our shared vision of connecting communities and fostering economic growth here in the heart of Africa. The deployment of hundreds of new telecom towers across Uganda will make a significant leap towards ensuring that no one is left behind in the digital age,” he said.
This sentiment was echoed by European Investment Bank Vice President Thomas Östros, who emphasized the institution’s unwavering commitment to tackling the digital divide and supporting transformative projects like this across Africa.
“Belgium is delighted to contribute to expanding mobile coverage in Uganda. This project aligns with our goal of empowering communities through sustainable development, and we anticipate the transformative effects it will bring to rural areas,” Thomas Östros remarked.
In a resounding commitment to sustainability and responsible development, a significant portion of the new towers will harness the abundant power of solar energy.
This not only mitigates environmental impact but also underscores TowerCo of Africa Uganda’s dedication to climate action and community empowerment.
But the impact doesn’t end with enhanced connectivity. With the initiative expected to generate 2,000 skilled and unskilled jobs for local communities during construction, TowerCo of Africa Uganda is not merely revolutionizing connectivity but also driving socioeconomic progress at the grassroots level.
Despite sporadic protests from local populations citing health concerns, TowerCo of Africa Uganda remains steadfast in its resolve to bring cutting-edge connectivity to every corner of Uganda.
With operations spanning not only Uganda but also Tanzania, Madagascar, and the Democratic Republic of Congo, this ambitious telecom powerhouse is poised to reshape the digital landscape of East Africa and beyond, leaving an indelible mark on the fabric of African connectivity and progress.
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