This investment will enable TOA Tanzania to construct roughly 200 new cell towers, with a particular focus on expanding coverage in underserved rural areas of mainland Tanzania and Zanzibar.

These new sites are expected to improve mobile connectivity for up to 600,000 residents.

Founded in February 2023, TOA Tanzania is a subsidiary of Axian Telecom, specializing in owning and leasing passive telecom infrastructure, such as cell towers, to mobile network operators.

The company is actively involved in developing telecom infrastructure across several African nations, including Madagascar, the Democratic Republic of the Congo, Uganda, and Tanzania.

“This financing agreement strengthens our commitment to bridging the digital divide in Tanzania,” said Innocent Mushi, CEO of TOA Tanzania.

“With BII’s support, we can accelerate our growth and deliver essential mobile services to communities currently lacking adequate connectivity.”

Mushi emphasized the company’s dedication to environmental and social responsibility. The new towers will reportedly utilize renewable energy sources and adhere to responsible waste management practices.

This expansion aligns with Tanzania’s thriving telecommunications sector. The industry generated an estimated $2.2 billion in revenue in 2023 and is projected to maintain a compound annual growth rate (CAGR) exceeding 4% until 2028.

Additionally, the number of mobile subscriptions in the country has grown significantly, reaching 67.72 million in 2024, compared to 50.8 million in the previous year.

TOA Tanzania’s initiative complements the UK-Tanzania Mutual Prosperity Partnership, a collaboration signed in April 2024 with BII’s involvement.

This partnership aims to unlock £1 billion ($1.27 billion) in government-backed investments for Tanzania over the next five years.

Founded six years ago, Glint boasts a successful track record of supporting businesses like Darwinz.ai, Iqraaly, Wasla, Kashier, and Filkhedma.

The firm, led by Tarek Aboualam and Youssef Helmy Habib, announced the first close of Glint Fund II, backed by Wadi Degla Group.

This new fund aims to empower Egyptian entrepreneurs by providing investment opportunities ranging from $250,000 to $S500,000 during the seed and Series A stages.

Glint will leverage its unique venture studio model to offer comprehensive support beyond just capital.

“Glint’s second fund is a crucial step in strengthening our ecosystem for Egyptian tech startups with aspirations to reach regional and international markets,” said Aboualam.

“Our venture studio model goes beyond just funding. We provide an integrated platform with business, operational, and technical support, along with access to the regional market. We’re excited to collaborate with both new and returning investors.”

Zero Carbon Charge (ZCC), a clean energy infrastructure company, has partnered with the Free State government to build the network.

The project will install 120 charging stations across the province, 75 dedicated to passenger cars and 45 for electric trucks. Completion is expected by September 2025.

“This initiative promotes not only off-grid EV charging but also socio-economic benefits,” said Free State Minister Thabo Meeko. The project is expected to create jobs and contribute to skills development in the clean energy sector.

ZCC’s charging stations will be powered entirely by solar energy, making them independent of the national grid and immune to power cuts. This also aligns with South Africa’s goal of reducing reliance on its coal-fired power plants.

“Solar charging offers a clean, zero-emission alternative to Eskom’s grid,” ZCC stated. Eskom is the state-owned power utility in South Africa.

The project will cover 13 municipalities across the Free State province, making EV charging accessible to a wider range of residents.

This initiative is part of ZCC’s broader plan to establish a national network of 240 renewable energy-powered charging stations for both passenger and commercial electric vehicles.

Research suggests electric vehicles could account for a significant portion of new car sales in the country by 2030, making this infrastructure crucial for the future.

Gogo Electric, headquartered in Kampala, assembles electric motorcycles and manufactures lithium-ion batteries in its local factory, boasting a production capacity of 60,000 units annually.

To facilitate a seamless transition from gas-powered motorcycles, the company has established a network of battery-swapping stations across Uganda.

“This investment is a tremendous validation of our vision to revolutionize Uganda’s transport sector through sustainable e-mobility solutions,” said Jakob Hornbach, Gogo Electric’s founder and CEO.

“With ElectriFI’s crucial support, we are positioned to accelerate our mission and make electric motorcycles a mainstream reality for Ugandans.”

Gogo Electric’s focus aligns with the pressing need to decarbonize “boda bodas,” the ubiquitous motorcycle taxis in Uganda and East Africa.

Estimates by Kampala Capital City Authority (KCCA) suggest over 150,000 motorcycle taxis operate in the Ugandan capital alone, highlighting the significant potential impact.

Since its inception in 2017, Gogo Electric has deployed over 1,300 electric motorcycles and established 65 battery-swapping stations in Uganda.

The company estimates these eco-friendly vehicles can offset emissions by 3,200 tonnes of carbon dioxide equivalent (CO2) annually, attracting further investment.

ElectriFI joins Kenyan investment firm Watu Credit, which previously invested to support the deployment of 1,000 electric motorcycles from Gogo Electric in Uganda.