Africa-Asia Fund Provides $82.8 Million for Africa Digital Push

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Or sign-in if you have an account.(Bloomberg) — The Emerging Africa and Asia Infrastructure Fund has agreed to deploy $82.8 million for telecommunication towers in the Democratic Republic of Congo and a pan-African fiber-optic network, as the continent increases digital infrastructure.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountEAAIF will provide a $50 million loan to Liquid Intelligent Technologies as part of a $450 million restructuring and expansion package. The funding is for optimization of Liquid’s capital structure and maintenance of its 110,000 km (68,350-mile) fiber network across 25 countries, it said in a statement. Eastcastle Infrastructure Ltd. is receiving $32.8 million as part of $179 million in funding to widen its tower network in the Democratic Republic of Congo to 1,800 from 1,072. The country has a mobile internet penetration rate of 17%, and tower density is among the lowest globally at one tower per 15,000–20,000 people compared to one for 600 in the US, according to EAAIF.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“These parallel investments highlight EAAIF’s strategic focus on de-risking and scaling the physical and digital networks that underpin the continent’s rapidly growing digital economy,” it said.EAAIF is on track to provide project financing exceeding $200 million this year. In 2025 it signed nine transactions with a combined value of $253 million. The fund targets investing more than $1 billion in infrastructure by 2028.Most EAAIF funding goes to renewable energy, telecommunications, transport and logistics infrastructure, according to Roland Janssens, managing director at London- and Johannesburg-listed Ninety One Plc, which manages the fund. The fund has done some financings this year and expects to do more in the region, Janssens said in an interview. Some of those are in eastern Africa and EAAIF hopes to do something more in Kenya and other African nations, he said.EAAIF is a unit of Private Infrastructure Development Group and has a committed loan portfolio of $1.6 billion, invested in 25 countries and 10 infrastructure sectors.The Next Africa newsletter runs every weekday. Sign up here for the newsletter, and subscribe to the Next Africa podcast on Apple, Spotify or anywhere you listen.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.