UK development finance institution (DFI) British International Investment (BII) is providing a €25-million debt facility to support Senegalese telecommunications firm Sonatel’s infrastructure expansion and modernization plan.
The loan is part of an €87-million credit facility, co-financed by the International Finance Corporation (IFC) and French DFI Proparco, aimed at enhancing coverage, reliability and affordability of mobile and internet services in Senegal.
Sonatel will install towers and cables in rural areas and work towards increasing female representation among management positions. The loan will also support Sonatel’s digital skills training program for entrepreneurs and start-ups.
“This partnership marks a significant milestone in Senegal’s digital development. Together with Sonatel, we are committed to delivering innovative and inclusive solutions that will have a lasting impact on Senegal’s economy and people,” stated Olivier Buyoya, IFC Regional Director for West Africa.
BII also recently provided a $30-million loan to Tanzanian telecommunications firm TowerCo of Africa Tanzania to install 200 connectivity sites, in a bid to bridge the digital gap in the East African country.
