Eagle Towers, a portfolio company of Infra Impact Investment Managers, has secured a ZAR 100 million ($5.4 million) senior-secured loan facility to support its growth and expansion plans.
Eagle Towers constructs, operates and maintains telecommunications towers across South Africa, particularly in rural areas.
According to the World Bank, approximately 32 percent of the population in South Africa lives in rural areas. Rural mobile connectivity is crucial in South Africa, as it helps to bridge the digital divide and provides access to information, communication and services to people living in remote areas. The loan facility will help drive increased telecommunication coverage and reduce the cost of such access in South Africa.
As part of its value-add strategy, Infra Impact worked closely with Eagle Towers to identify the most suitable funding structure and source for its growth initiatives. The loan facility was provided by Prescient Investment Management’s P