DRC To Get 728 New Telecom Towers Under $82.8 Million Deal

The Emerging Africa & Asia Infrastructure Fund (EAAIF) has committed a combined $82.8 million in private debt financing to expand telecom towers in the Democratic Republic of Congo and support a pan-African fibre-optic network spanning 25 countries. The fund, managed by Ninety One under the Private Infrastructure Development Group, announced the deals this week.

EAAIF approved a $32.8 million senior secured loan for Eastcastle Infrastructure DRC, forming part of an expanded $179 million facility that refinances the fund's original 2023 commitment to the company. The financing will fund construction of 728 new telecommunications towers, expanding Eastcastle's active network from 1,072 to 1,800 towers.

Around 70 percent of the new towers will be built in rural and underpenetrated regions of the DRC, where mobile internet penetration stands at just 17 percent. Tower density in the country remains among the lowest globally, at one tower for every 15,000 to 20,000 people, compared with roughly one tower per 600 people in the United States.

The transaction will also finance solar panel installations and lithium battery upgrades across Eastcastle's network, aimed at improving energy efficiency, reducing reliance on diesel generators and limiting disruption from grid failures in a market where power supply gaps remain common.

Separately, EAAIF committed $50 million to Liquid Intelligent Technologies as part of a broader $450 million restructuring and expansion package. The financing supports optimisation of Liquid's capital structure and the maintenance of its 110,000-kilometre cross-border fibre network, which spans 25 countries including Kenya, South Africa and Zimbabwe.

Liquid's fibre network underpins digital data storage and processing for major telecom operators, enterprises and hyperscale cloud providers operating across the continent. Group Chief Executive Officer Hardy Pemhiwa described the financing as both a financial and strategic milestone that would strengthen the company's balance sheet while supporting continued network expansion.

Eastcastle Infrastructure co-founder and director Peter Lewis said the renewed partnership with EAAIF would help address the DRC's critical telecommunications infrastructure gap while expanding sustainable, energy-efficient connectivity across the country.

EAAIF said the parallel investments reflect its strategic focus on de-risking and scaling both the physical and digital networks underpinning Africa's rapidly growing digital economy, combining local access infrastructure with the regional connectivity needed to support it.