NuRAN gets $5m loan to enhance site operations in Cameroon, DRC

AFRICAN BUSINESS AND ECONOMYJuly 10, 2024 at 11:07 AM UTC

TLDR

NuRAN Wireless secures $5 million loan from FEI to expand infrastructure in Africa, with initial drawdown of $2.5 million.
The funds will support renewable energy infrastructure projects in Cameroon and the Democratic Republic of Congo.
NuRAN aims to accelerate the deployment of its Network as a Service (NaaS) sites in these countries post acquiring a license in Cameroon.

NuRAN Wireless, a provider of mobile and broadband wireless infrastructure solutions, has closed a $5 million loan facility with the Facility for Energy Inclusion (FEI) by Cygnum Capital to expand its sites in Africa.

The company will receive an initial drawdown of $2.5 million within five to 10 working days. This initial amount includes $1.07 million for refinancing renewable energy assets previously shipped and installed by NuRAN in Cameroon.

Before this announcement, NuRAN in April said it had entered into the loan facility to build renewable energy infrastructure for mobile networks in Cameroon and the Democratic Republic of Congo (DRC). This aims to accelerate the deployment of its Network as a Service (NaaS) sites in these countries after obtaining a license in the former in October 2023.

Points clés à retenir

The loan facility will enable NuRAN to deploy over 500 new sites. Additionally, the company plans to use the cash generated from operating sites and the loan proceeds to cover the significant material and construction costs of these new sites. The drawdowns on the loan are contingent upon customary conditions, such as evidence of funding and the operational status of new sites, with the amounts secured against the assets of the company’s subsidiaries.

NuRAN Wireless

Cygnum Capital

Telecommunications

Digital Infrastructure

Financing

Investments

Cameroon

DR Congo