What is Towerco of Africa?
Towerco of Africa (TOA) is a rapidly expanding tower infrastructure company operating across Madagascar, Uganda, the Democratic Republic of Congo, and Tanzania. Established in Madagascar in 2011, TOA has spent the last decade building passive infrastructure to address the escalating demand for enhanced connectivity throughout the continent. The company's growth strategy focuses on build-to-suit passive infrastructure, positioning it as a key player in Africa's digital transformation.
How much funding has Towerco of Africa raised?
Towerco of Africa has raised a total of $40M across 1 funding round:
Other Financing Round
$40M
Other Financing Round (2024): $40M with participation from Oesterreichische Entwicklungsbank and European Investment Bank
Key Investors in Towerco of Africa
Oesterreichische Entwicklungsbank
OeEB is an Austrian development bank that finances and supports projects in developing and emerging countries, focusing on economically viable and developmentally meaningful initiatives. The bank provides investment financing, private equity, and advisory services related to ESG, climate, and technical assistance.
European Investment Bank
Established in 1958 and headquartered in Luxembourg, European Investment Bank (EIB) is the European Union's nonprofit long-term lending and finance institution.
What's next for Towerco of Africa?
The substantial enterprise-level funding indicates Towerco of Africa is poised for significant scaling and operational expansion. This strategic investment will likely fuel further infrastructure development, potentially entering new markets or densifying existing operations to meet the burgeoning demand for mobile network coverage. The company's focus on build-to-suit passive infrastructure suggests a commitment to providing foundational assets for telecom operators, enabling broader and more reliable digital access across Africa.
See full Towerco of Africa company page
