AFRICA: AktivCo gets €7 million to solarize telecom towers

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AFRICA: AktivCo gets €7m to solarise telecommunication towers © Fly_and_Dive/Shutterstock

The Energy Inclusion Facility (EIF) is underwriting a bond issue by AktivCo, the energy services company (ESCO) of Camusat. AktivCo provides clean energy to power telecom towers.

AktivCo obtains new financing from the Energy Inclusion Facility (EIF). This financing facility launched by the African Development Bank (AfDB) underwrites a €7 million bond issued by AktivCo Holding to support the development of its activities in Africa. This energy services company (ESCO) provides clean energy to telecom network operators in Africa.

The funds raised are intended to support its growth in Chad, Niger, Cameroon, Côte d’Ivoire and Burkina Faso. This is a short-term financing, a first for the EIF, which also participated in the recent fundraising (60 million euros, editor’s note) of AktivCo. This was alongside the Norwegian Investment Fund for Developing Countries (NORFUND), Proparco, the private sector financing arm of the French Development Agency (AFD), and AfricaGoGreen, a fund launched by the Kreditanstalt für Wiederaufbau (KfW) to promote private investments that mitigate or reduce greenhouse gas emissions (GHG).

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“The short-term bridge loan is a critical new financing instrument that FEI is now offering to its clients,” said Orli Arav, Head of Debt Funds at Lion’s Head Global Partners, the manager of the EIF. The fund is also supported by Norfund, KfW and the Austrian Development Bank (OeEB).

“With the support of the EIF and Lion’s Head, Camusat is able to accelerate the deployment of its Esco business. This strengthens our ability to meet telecom operators’ demand for green and efficient energy to secure their networks,” said Richard Thomas, president and CEO of Comusat, AktivCo’s parent company. The company already claims a portfolio of 3,000 sites and wants to deploy renewable energy at an additional 7,000 sites over the next three years.

Jean Marie Takouleu

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