Celebrated broadcaster author and political analyst Eusebius McKaiser has died after suffering what is believed to have been an epileptic seizure. The Grahamstown-born, Rhodes…
Eagle Towers secures R100M senior secured loan facility to Bridge South Africa’s Digital Divide
Infrastructure investment is critical for ensuring equitable access to resources and opportunities, reducing poverty and inequality, and promoting sustainable development. That’s why Infra Impact Investment Managers, a South African-focused infrastructure investment firm, has been working hard to support its portfolio company, Eagle Towers.
Eagle Towers is a company that constructs, operates, and maintains telecommunications towers across South Africa, particularly in rural areas. The company’s mission is to bridge the digital divide by providing access to information, communication, and services to people living in remote areas. Given that approximately 32% of the South African population lives in rural areas, mobile connectivity is essential to the country’s economic and social development.
To help Eagle Towers achieve its objectives, Infra Impact worked closely with the company to identify the most suitable funding structure and source for its growth initiatives. As a result of their efforts, Eagle Towers secured a ZAR 100 million senior secured loan facility, which will be used to support the company’s expansion plans. The loan facility was provided by Prescient Investment Management’s Prescient Infrastructure Debt Fund.
“We are delighted to have played a significant role in supporting Eagle Towers as they look to expand and grow their business,” said Morné Edas, founder and Co-Managing Partner of Infra Impact. “The successful funding round is a testament to the hard work and dedication of the respective teams, and we look forward to continuing our partnership to drive value for all stakeholders.”
The successful funding round represents a significant milestone for Eagle Towers and another successful partnership for Infra Impact in the infrastructure sector. The Infra Impact Mid-Market Infrastructure Fund 1 provides growth capital for South African-focused infrastructure businesses that own real assets that provide essential services and that have 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 will help drive increased telecommunication 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.