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(Bloomberg) — The Emerging Africa and Asia Infrastructure Fund has agreed to deploy $82.8 million for telecommunication towers in the Democratic Republic of Congo and a pan-African fiber-optic network, as the continent increases digital infrastructure.
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EAAIF will provide a $50 million loan to Liquid Intelligent Technologies as part of a $450 million restructuring and expansion package. The funding is for optimization of Liquid’s capital structure and maintenance of its 110,000 km (68,350-mile) fiber network across 25 countries, it said in a statement.
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Eastcastle Infrastructure Ltd. is receiving $32.8 million as part of $179 million in funding to widen its tower network in the Democratic Republic of Congo to 1,800 from 1,072. The country has a mobile internet penetration rate of 17%, and tower density is among the lowest globally at one tower per 15,000–20,000 people compared to one for 600 in the US, according to EAAIF.
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“These parallel investments highlight EAAIF’s strategic focus on de-risking and scaling the physical and digital networks that underpin the continent’s rapidly growing digital economy,” it said.
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EAAIF is on track to provide project financing exceeding $200 million this year. In 2025 it signed nine transactions with a combined value of $253 million. The fund targets investing more than $1 billion in infrastructure by 2028.
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Most EAAIF funding goes to renewable energy, telecommunications, transport and logistics infrastructure, according to Roland Janssens, managing director at London- and Johannesburg-listed Ninety One Plc, which manages the fund.
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The fund has done some financings this year and expects to do more in the region, Janssens said in an interview. Some of those are in eastern Africa and EAAIF hopes to do something more in Kenya and other African nations, he said.
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EAAIF is a unit of Private Infrastructure Development Group and has a committed loan portfolio of $1.6 billion, invested in 25 countries and 10 infrastructure sectors.
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