Investment

An interesting announcement relevant to Africa has come from official sources in the UAE, which has announced the launch of the AI for Development initiative, worth US$1 billion, to support and finance artificial intelligence projects in African countries.

Thailand is offering another strong reminder of its intentions in the data centre market with the recently reported approval of US$3.1 billion in new investments by the country’s Board of Investment (BOI) for four new data centre projects.

IFC, a global development institution focused on the private sector in emerging markets, has announced a partnership with operator Orange Mali to support the company in upgrading its infrastructure, expanding broadband coverage, and ensuring equal access to telecommunications services for all communities.

Malaysia’s second 5G wholesale operator U Mobile announced on Friday it has signed a ten-year syndicated financing deal with four Malaysian banks worth MYR4.3 billion (just over US$1 billion) to fund the capex for its 5G network rollout.

The African Development Bank Group has approved a US$100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF), supporting efforts to scale sustainable infrastructure investment across the continent.

State-owned company Telkom Indonesia, a multinational telecommunications conglomerate, has agreed to partially spin off its wholesale fibre connectivity business to its infrastructure-focused subsidiary Telkom Infrastruktur Indonesia in a deal valued at 35.787 trillion rupiah ($2.16 billion).

A major financing deal, announced this week, aims to fund an upgrade that will see the Tcell mobile network in Tajikistan enhanced in both quality and accessibility.

AI technologies-focused company Graphcore, a wholly owned subsidiary of multinational investment holding company SoftBank, says it is opening a new AI engineering campus in Bengaluru in India.

Global independent tower company IHS Towers announced on Thursday that it has officially completed the sale of its Rwanda unit and its approximately 1,467 sites to Paradigm Tower Ventures.

Operator Airtel Chad is reportedly planning a XAF50 billion (about US$90 million) investment plan aimed at improving network quality and expanding digital connectivity across the country.

According to local news reports, operator Vodacom Tanzania is planning a number of technology modernisation programmes likely to involve an outlay of more than US$100 million.

Industry body the GSMA has warned that a large connectivity usage gap is limiting Ghana’s economic potential.

IDB Invest, a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector, has partnered with technology giant Nokia to launch a US$50 million financing facility to strengthen digital connectivity in Latin America and the Caribbean.

Amid the regular news of connectivity initiatives and new satellite deployments targeting remote areas, a recent report from the International Telecommunication Union (ITU), the United Nations agency for digital technologies, reminds us that there’s still a long way to go.

Japanese agriculture fintech Degas Limited has announced a US$100 million investment over the next four years to help establish Ghana as Africa’s first AI-powered agricultural hub, expanding a model that, it says, has already financed more than 86,000 smallholder farmers across 122,000 acres nationwide.

Two banks with a strong Latin American focus, development bank IDB Invest and multinational bank Bladex, have joined forces to provide a financing package to Millicom-owned operator Telemovil El Salvador – aka Tigo – of up to US$205 million.

India’s Department of Telecommunications (DoT) has set up ambitious targets to achieve 100% population coverage with 4G and 90% coverage with 5G, according to a draft of the country’s National Telecom Policy 2025, now being circulated for public consultation.

The Credit Fund of the African Continental Free Trade Area (AfCFTA) Adjustment Fund says it has successfully closed its first investment – and it’s a big one. AfCFTA is committing US$10 million to wholesale voice and SMS services and enterprise connectivity solutions provider Telecel Global Services.

Axian Telecom, a pan-African operator in telecommunications, mobile financial services, and digital infrastructure, says it has successfully priced its US$600 million Senior Notes maturing in 2030.

Morocco-based Maroc Telecom announced on Saturday it has secured two loans from World Bank Group’s IFC worth EUR370 million (US$425.1 million) to help finance 4G rollouts in Chad and Mali.

The State Assets Management Agency of Uzbekistan has officially launched the privatisation process of operator Universal Mobile Systems (UMS), better known under its brand name Mobiuz.

Canadian energy and infrastructure company Rektron Group has announced its potential strategic acquisition of a majority stake in operator AT Ghana.

East Africa-headquartered carrier-neutral data centre operator Wingu Africa has raised US$60 million to fast-track its regional expansion and, it says, power the continent’s digital transformation.

Ericsson India reportedly sold off its 0.6% stake in Vodafone Idea (Vi) on Tuesday to undisclosed buyers for INR4.28 billion (US$49.9 million), less than two months after Nokia’s Indian unit did likewise.

Pan-African telecommunications service provider Axian Telecom is continuing to make news, this time with the announcement that it has acquired an 8% stake in African e-commerce giant Jumia.

Orange Egypt has secured a syndicated loan worth over US$80 million from the European Bank for Reconstruction and Development (EBRD) and Banque Misr to help cover the cost of its recently acquired 5G mobile licence.

The government of Burkina Faso has announced plans to roll out 800 telecom towers in 2025 to facilitate network coverage in ‘white zones’ – areas with no network coverage.

Turkish technology and communications company Turkcell has secured US$150 million in Murabaha financing from Dubai Islamic Bank, a prominent bank in the Gulf region.

Kenya’s National Treasury is widely reported to be preparing to sell part of its 35% stake in leading operator Safaricom.

IHS Towers, one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, says it has agreed to sell 100% of its IHS Rwanda Limited business, including its approximately 1,465 sites, to tower platform Paradigm Tower Ventures.

Sri Lankan telco Dialog Axiata announced on Monday it will invest another US$100 million in its digital infrastructure, increasing its total cumulative investment in the country to more than US$3.37 billion.

Multi-service operator Orange Middle East and Africa (OMEA) and the International Finance Corporation (IFC), a private sector-led development aid institution and member of the World Bank Group, have signed a partnership to sustainably strengthen digital access in eight African countries.