Investment

NuRAN announces financing milestone and expansion into Cote d’Ivoire

NuRAN announces financing milestone and expansion into Cote d’Ivoire

NuRAN Wireless, a rural connectivity company, has announced a mandate letter with Afrigreen Debt Impact Fund for a proposed senior debt financing of up to US$12 million to accelerate the deployment of mobile and broadband infrastructure across multiple African nations.

This financing is described as the company’s largest financing milestone to date and structured as a multi-country, multi-currency, multi-tranche facility through NuRAN Wireless Africa Holding.

NuRAN says it is designed to unlock the next wave of site development, bringing reliable 2G, 3G, and 4G coverage to communities that have long been left behind by traditional telecoms.

The mandate letter, says NuRAN, marks a decisive inflection point in its mission to connect over one billion underserved people worldwide – a  mission that has seen some recent operational highlights, including the successfully deployment by the company of its first towers in Ivory Coast.

The new sites are equipped with advanced 4G transmission technology, delivering high-speed mobile connectivity to underserved rural communities for the first time.

NuRAN has also commenced the rollout of 3G technology in Cameroon in response to surging demand for higher data capacity and enhanced connectivity.

Francis Létourneau, NuRAN Director and CEO, says: "This mandate letter with Afrigreen is a defining moment for NuRAN. Combined with our expansion into Ivory Coast and the 3G upgrade in Cameroon, we are executing on every dimension of our growth strategy."



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