South African infrastructure investment firm, Infra Impact Investment Managers, has secured a ZAR 100 million senior secured loan facility for its portfolio company, Eagle Towers. Eagle Towers is a company that constructs, operates, and maintains telecommunications towers across South Africa, with a particular focus on rural areas. The company’s goal is to bridge the digital divide by providing access to information, communication, and services to people living in remote areas, where mobile connectivity is essential to the country’s economic and social development. Approximately 32% of the South African population lives in rural areas.
To help Eagle Towers achieve its goals, Infra Impact worked closely with the company to identify the most suitable funding structure and source for its growth initiatives. The loan facility was provided by Prescient Investment Management’s Prescient Infrastructure Debt Fund, which will be used to support the company’s expansion plans. Infra Impact Mid-Market Infrastructure Fund 1 provides growth capital for South African-focused infrastructure businesses that own real assets providing essential services and with value-creation potential. The fund is deploying capital in line with the team’s historically successful mid-market, value-add infrastructure strategy in the water, waste, energy, telecommunications, and related sectors.
Conway Williams, Head of Credit at Prescient Investment Management, expressed enthusiasm for the partnership, noting that the loan facility would help drive increased telecommunications coverage and reduce the cost of such access in South Africa. Furthermore, Williams noted that supporting such companies aligns with Prescient’s impact ethos. “We believe that we have the responsibility of ensuring that the capital we invest contributes to the greater good of the economy, the environment, and broader society.”
The successful funding round for Eagle Towers is a testament to the importance of infrastructure investment in promoting sustainable development and bridging the digital divide. With the help of firms like Infra Impact and Prescient Investment Management, South Africa can continue to expand access to essential services and promote economic and social development in remote areas.
Infrastructure investment is critical for ensuring equitable access to resources and opportunities, reducing poverty and inequality, and promoting sustainable development. The successful funding round represents a significant milestone for Eagle Towers and another successful partnership for Infra Impact in the infrastructure sector. The digital divide has become an urgent issue globally, and addressing it requires concerted efforts and investment in infrastructure. Companies like Eagle Towers are playing a vital role in bridging the gap and providing access to essential services that are critical to economic and social development.
In conclusion, the successful funding round for Eagle Towers is a positive development for the infrastructure sector in South Africa. Infra Impact Investment Managers and Prescient Investment Management’s partnership is a testament to the critical role that infrastructure investment plays in promoting sustainable development and bridging the digital divide. With continued investment and support, companies like Eagle Towers can continue to expand access to essential services and promote economic and social development in remote areas.