Infra Impact and Prescient Support Eagle Towers Expansion
Summary
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 marks another successful partnership for Infra Impact in the infrastructure sector.Eagle Towers has been constructing, operating, and maintaining telecommunications towers across South Africa, especially in rural areas.Rural mobile connectivity is crucial in South Africa, as it helps to bridge the digital divide and provides access to information, communication, and services to people living in remote areas. In South Africa, where World Bank data suggests approximately 32% of the population lives in rural areas, mobile phones are a lifeline for many people.Mobile connectivity also allows rural residents to access education and health services, as well as to stay in touch with family and friends.Furthermore, it plays a critical role in economic development, providing opportunities for entrepreneurship and job creation in remote areas.Therefore, improving rural mobile connectivity in South Africa is essential for promoting equitable access to resources and opportunities, reducing poverty and inequality, and advancing sustainable development.As part of its value-add strategy, Infra Impact worked closely with Eagle Towers to identify the most suitable funding structure and source for its growth initiatives.The Infra Impact Mid-Market Infrastructure Fund 1 provides growth capital for South African focused infrastructure businesses, which own real assets that provide essential services and that have value creation potential.The Fund is deploying capital in line with the teams historically successful mid-market, value-add infrastructure strategy in the water, waste, energy, telecommunications, and related sectors.Through its industry expertise, market knowledge, and network, Infra Impact was able to leverage its experience to provide critical support in bringing the transaction to financial close. "Infra Impact has been instrumental in helping us secure this loan facility, which is a critical component of our growth strategy," said Avril van Rheede, Eagle Towers CEO.Their team has been an integral part of our journey, providing invaluable insights and guidance to help us achieve our objectives. We look forward to continue executing on our strategy to provide Mobile Network Operators with high quality tower infrastructure in South Africa.