Africa Mobile Networks seeks to connect nearly 4 million people in rural Africa to telecommunications for the first time, supported by the EU Bank, to build 1000 new solar-powered mobile phone base stations. It is targeting remote, rural areas of the Democratic Republic of Congo and Cameroon, backed by a EUR 24 million long-term investment from the European Investment Bank (EIB).
Support for this project comes from the Impact Financing Envelope, a special window under the ACP Investment Facility (African Caribbean Pacific) managed by the EIB and intended for initiatives where a high financial risk is rewarded by a higher impact for local populations, the EIB said.
The Investment Facility is a revolving fund that draws resources from the EU member states. The project marks a significant step in improving the financial inclusion of people living in vulnerable and remote communities, with a particular focus on women, health and banking services.
More than two thirds of the new mobile phone coverage will be located in North and South Kivu, conflict-torn areas of the eastern Democratic Republic of Congo, where improved communications will increase security for remote and vulnerable villages there. Over the last five years, the European Investment Bank has provided more than EUR 6 billion for telecommunication investment around the world.
