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NuRAN Wireless Secures $5 Million Loan Facility to Expand Network in Africa
NuRAN Wireless, a leading provider of mobile and broadband wireless infrastructure solutions, has secured a $5 million loan facility with Cygnum Capital’s Facility for Energy Inclusion (FEI) to accelerate its network deployment in Africa.
“This financing is a significant step forward for NuRAN,” said Francis Letourneau, President and CEO of NuRAN Wireless. “It allows us to not only fulfill our existing commitments but also expand our reach and connect more people in underserved regions.”
NuRAN previously announced its intention to use the loan facility to build renewable energy infrastructure for mobile networks in Cameroon and the Democratic Republic of Congo (DRC).
Following the success in Cameroon, NuRAN anticipates a further drawdown from the facility for the DRC, subject to meeting specific requirements. This would allow the company to build over 100 new sites there.
NuRAN also plans to initiate operations in Ivory Coast and leverage existing inventory to construct sites in South Sudan before the end of 2024, subject to securing additional financing.
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