EAAIF Commits $82.8 Million To Boost African Connectivity
The Emerging Africa & Asia Infrastructure Fund (EAAIF) has committed a combined $82.8 million in private debt to expand telecommunications infrastructure across Sub-Saharan Africa. This telecom towers financing package aims to strengthen mobile networks in the Democratic Republic of Congo (DRC) while reinforcing a pan-African fibre-optic network.
According to a statement released on Wednesday, the financing splits into two parts: a $32.8 million senior secured loan to Eastcastle Infrastructure DRC and a $50 million loan to Liquid Intelligent Technologies. Together, these investments target two separate but related problems, weak local mobile coverage and limited cross-border internet connectivity, both of which continue to hold back Africa’s digital economy.
New Telecom Towers Financing To Expand DRC Network
EAAIF’s $32.8 million commitment forms part of a larger $179 million senior secured loan and growth facility for Eastcastle Infrastructure DRC. This funding will pay for 728 new telecommunications towers, growing the company’s network from 1,072 towers to 1,800.
Around 70% of these new towers will go up in rural and underserved communities, where mobile connectivity remains scarce. The project will also fund solar panels and lithium batteries at tower sites, improving energy efficiency and cutting reliance on diesel-powered generators.
The DRC currently ranks among Africa’s least connected mobile markets. Internet penetration sits at around 17%, and a single telecom tower typically serves between 15,000 and 20,000 people, a much heavier load than towers carry in more developed markets.
$50 Million Boost For Liquid’s Pan-African Fibre Network
In a separate transaction, EAAIF committed $50 million to Liquid Intelligent Technologies as part of a broader $450 million restructuring and expansion package. This funding will help refinance and maintain Liquid’s terrestrial fibre network, which stretches over 110,000 kilometres across 25 African countries, including Kenya, South Africa, and Zimbabwe.
The investment will strengthen high-speed broadband and cloud infrastructure that supports telecom operators, enterprises, and large-scale data users, according to the fund. It should also improve digital connectivity across national borders throughout the region.
The deal ties into environmental goals as well. Liquid’s parent company, Cassava Technologies, is pursuing a 42% cut in Scope 1 and Scope 2 emissions by 2030.
Why This Digital Infrastructure Investment Matters
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,” Proos said. He added that the commitments to Eastcastle and Liquid reflect confidence in Africa’s digital expansion, driven by local access points and pan-African corridors working together to power the continent’s future.
Hardy Pemhiwa, Group Chief Executive Officer of Liquid Intelligent Technologies, described the financing as both a strategic and financial milestone for the company. He said it would strengthen Liquid’s balance sheet and support the continued expansion of Africa’s digital infrastructure.
Peter Lewis, Co-founder and Director of Eastcastle Infrastructure, said the investment would help close the DRC’s telecommunications infrastructure gap while supporting more sustainable, energy-efficient network growth.
About EAAIF’s Role In African Infrastructure
EAAIF operates as a blended finance vehicle under the Private Infrastructure Development Group (PIDG), providing long-term debt financing for infrastructure projects across Africa and Asia. The fund currently manages a committed loan portfolio of about $1.6 billion spread across 25 countries, making this latest telecom towers financing one piece of a much larger continental investment strategy.
