Telecom

Paratus Group secures $31M loan to expand its digital infrastructure across Africa

Paratus Group secures $31M loan to expand its digital infrastructure across Africa
Friday, 10 November 2023 17:39

Paratus continues to expand its digital infrastructure in Africa. The company recently launched two new fiber optic routes to improve connectivity in Mozambique. It has also announced the construction of a 3rd data center in Angola.

Emerging Africa Infrastructure Fund (EAIF) has teamed up with Ninety One, its fund manager, to provide a $31 million loan to Paratus Group Holdings Limited. Unveiled on November 8, the funding will enable the pan-African broadband connectivity provider to expand its fiber optic and data center network across the continent over the next three years.

With part of the funds, Paratus will launch three new fiber optic routes to link the west and east coasts of Africa. The first will link Namibia, South Africa, and Mozambique. The second will link Congo, South Africa, and Mozambique. The last will link Angola, Zambia, and Tanzania. With another part, the company will finance the construction of its first Tier IV data center in Angola.

These projects align with Paratus’ ambitions to double its revenues over the next five years, by investing in and deploying the best infrastructure to meet the demand for high-speed connectivity in Africa.

Over the past two years, the company has invested in the construction of new data centers in Namibia, Zambia, and Angola; connecting to Google's Equiano fiber optic submarine cable; and strengthening its fiber optic infrastructure across the continent... It has also signed a distribution agreement with Starlink to provide its customers with satellite broadband Internet services from the subsidiary of American SpaceX.

"Expanding access to fiber and data centers in key African markets will advance development and inclusive growth - maximizing opportunities in countries where entrepreneurship is pervasive. The commitment of EAIF and Ninety One sends the right signal to the rest of the market and reinforces our mission to support a more connected and technologically advanced Africa," said Schalk Erasmus, CEO of Paratus.

Isaac K. Kassouwi

On the same topic
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
• Djibouti adopts new digital code to accelerate digital transformation, with focus on data protection, cybersecurity, and e-commerce. • The move aligns...
This successful bond sale not only reinforces AXIAN Telecom’s financial strength but also signals growing investor confidence in African digital...
• Experts at Cyber Africa Forum 2025 stress consumer education to fight cyber threats• Social engineering scams, phishing, and money mule schemes are...
Most Read
01

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
02

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
03

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.