NuRAN aims to diversify its funding sources to strengthen and expand its network in Africa. In February, the company announced negotiations for a $15 million loan with a development financial institution to finance the construction of an additional 800 sites across Africa.
On April 26, Canadian telecom infrastructure provider NuRAN Wireless announced securing a $5 million loan from the Facility for Energy Inclusion (FEI), a fund managed by Cygnum Capital. The funds will primarily finance the construction of renewable energy infrastructure for the company's mobile networks in Africa. They will also be used to deploy new telecom sites on the continent, particularly in Cameroon and the Democratic Republic of Congo (DRC).
"This facility will enable us to execute our construction plan for 2024 and achieve major milestones by the end of the calendar year," said Francis Letourneau, CEO of NuRAN Wireless Inc. This initiative aligns with NuRAN Wireless's ambition to expand and strengthen its telecom network in Africa. In 2021, the company committed to deploying at least 10,000 telecom sites on the continent over five years. As of the latest updates, it has contracted 4,600 sites, including with MTN (South Sudan, Sudan, Namibia, Côte d'Ivoire) and Orange (Cameroon, DRC, Madagascar) groups. It also has an ongoing agreement with telecom tower manager Trans Africa Towers to deploy 500 sites in the DRC.
NuRAN's various investments, including those in renewable energies, are expected to address the growing needs of African telecom operators for capacity. These operators, in turn, can expand their network coverage to meet the increasing demand for connectivity among African consumers, especially in rural areas.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
As work on the first phase of the Ahmed Sékou Touré International Airport expansion continues, Guinean authorities have announced their intention to move...
• Loulo-Gounkoto mine remains shut as Mali’s administrator seeks to restart it by selling stored gold• Barrick halted operations in January over export...
Hive Coega has officially entered its construction phase, with tenders now out for its core infrastructure. This milestone comes four years after the...
Côte d’Ivoire, the world’s leading cocoa producer, has set an ambitious target: to process 100% of its cocoa crop at the first stage by 2030. While the...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...