TowerCo Africa Uganda has obtained substantial long-term funding of US$40 million from its European partners in order to improve the coverage of mobile phone networks in Uganda’s rural districts. The investment intends to unlock digital empowerment and economic growth in the region and is made possible by the European Investment Bank, the Development Bank of Austria (OeEB), and the Belgian Investment Company for Developing Countries.
Installing 506 new telecom towers strategically placed in rural regions without access to mobile networks or facing network saturation would be made possible by the 10-year financing plan. These towers, which are primarily powered by renewable energy, will facilitate financial inclusion and give rural people access to 4G and 5G broadband services as well as mobile money options.
Uganda’s present mobile network coverage rate is barely 65%, therefore this investment will help the country reach its target of 95% coverage. A major obstacle to telecom access in rural Africa is addressed by the European Union-backed project spearheaded by TowerCo of Africa Uganda.
TowerCo of Africa Uganda hopes to solve issues impeding the growth of telecom in rural areas, such as the sharing of towers among several mobile network carriers, by erecting the new towers. This strategy promotes equitable and extensive network connectivity for rural populations while guaranteeing the financial sustainability of network expansion.
In keeping with TowerCo of Africa Uganda’s commitment to responsible infrastructure development and climate action, a significant number of the new towers will be powered by solar energy, which will also lower the danger of fuel and generator theft.
The CEO of TowerCo of Africa Uganda, Geoffrey Donnels Oketayot, thanked the European development finance partners for their support and emphasized that they both had the same goal of fostering community development and advancing economic growth in Africa. He believes that the installation of hundreds of new communication towers would play a major role in closing Uganda’s digital divide.
Vice President Thomas Östros of the European Investment Bank emphasized the bank’s dedication to promoting digital inclusion in Africa while commending TowerCo of Africa Uganda for its efforts to modernize rural connectivity. This partnership is a prime example of our common goal of improving the lives of those living in rural areas.
Over the next two years, TowerCo of Africa Uganda will erect the new telecom towers as part of the project, which is funded by the ACP Trust Fund. During the building phase, it is anticipated that 2,000 skilled and unskilled jobs will be created for the surrounding areas.
An important step has been taken toward reducing the digital divide, creating new opportunities for rural populations, and promoting sustainable development in Uganda with the collaboration of TowerCo of Africa Uganda and European funders. TowerCo of Africa Uganda is excited about the benefits of this partnership, which is a step in the direction of a connected and inclusive future.
