The Emerging Africa & Asia Infrastructure Fund (EAAIF) has committed a combined US$82.8 million in private debt financing to expand telecommunications infrastructure in the Democratic Republic of Congo (DRC) and strengthen a pan-African fibre-optic network, supporting digital connectivity across Sub-Saharan Africa.
The financing package comprises a US$32.8 million senior secured loan to Eastcastle Infrastructure DRC and a US$50 million loan to Liquid Intelligent Technologies. According to EAAIF, the investments are intended to improve local mobile network coverage and cross-border internet connectivity by addressing infrastructure gaps across the region.
Telecom Towers to Expand Mobile Coverage
The Digital Infrastructure Investment includes EAAIF’s US$32.8 million commitment as part of an expanded US$179 million senior secured loan and growth facility for Eastcastle Infrastructure DRC. The financing will support the construction of 728 new telecommunications towers, increasing the company’s portfolio from 1,072 to 1,800 towers.
EAAIF said approximately 70 per cent of the new towers will be built in rural and underserved communities where mobile connectivity remains limited. The project will also fund the installation of solar panels and lithium batteries to improve energy efficiency and reduce reliance on diesel-powered operations.
According to the fund, the DRC remains one of Africa’s least connected mobile markets, with internet penetration estimated at 17 per cent. The country has one telecommunications tower serving between 15,000 and 20,000 people, significantly below levels seen in more developed markets.
Fibre Network Financing Supports Regional Connectivity
The Digital Infrastructure Investment also includes a US$50 million commitment to Liquid Intelligent Technologies as part of a broader US$450 million restructuring and expansion package.
The financing will be used to refinance and maintain the company’s terrestrial fibre network, which extends more than 110,000 kilometres across 25 African countries, including Kenya, South Africa and Zimbabwe.
EAAIF said the investment will strengthen high-speed broadband and cloud infrastructure supporting telecommunications operators, enterprises and hyperscale data users while improving digital connectivity across national borders.
The financing also supports environmental objectives. Liquid’s parent company, Cassava Technologies, is pursuing a 42 per cent reduction in Scope 1 and Scope 2 emissions by 2030.
Investment Supports Digital Infrastructure Growth
Commenting on the announcement, Martijn Proos, Co-head of Emerging Market Alternative Credit at Ninety One, which manages EAAIF, said reliable digital infrastructure remains essential for Africa’s economic transformation.
“A robust, reliable digital backbone is the lifeblood of any modern economy. These commitments to Eastcastle and Liquid demonstrate our belief in Africa’s digital expansion through localised access points and pan-African corridors, which must work simultaneously to power the continent’s future,” Proos said.
Group Chief Executive Officer of Liquid Intelligent Technologies, Hardy Pemhiwa, described the financing as both a strategic and financial milestone for the company, adding that it would strengthen its balance sheet while supporting continued expansion of Africa’s digital infrastructure.
Peter Lewis, Co-founder and Director of Eastcastle Infrastructure, said the investment would help address the DRC’s telecommunications infrastructure deficit while supporting more sustainable and energy-efficient network expansion.
EAAIF, a blended finance vehicle under the Private Infrastructure Development Group, provides long-term debt financing for infrastructure projects across Africa and Asia and currently manages a committed loan portfolio of approximately US$1.6 billion across 25 countries.