EIB Drives Telecoms Connectivity for 2.5m Congolese
The impact investing arm of the European Union, European Investment Bank (EIB) , has announced a US$10 million quasi-equity investment to transform digital connectivity in Eastern DR Congo to be delivered by Bandwidth and Cloud Services Group (BCS).
The region, with a population of over 2.5 million, would get fibre-optic network according to the deal announced at AfricaCom 2022 in Cape Town. The Managing Director, BCS Group, Yonas Maru said in a statement obtained by MajorWaves, “Africa is at a crucial point in the digitisation age. The rapid growth of her telecommunications infrastructure is one of the key factors that will allow the realisation of her true potential. As BCS we are excited to be part of Africa’s journey to achieving regional connectivity.
“Our mission is to enable internet access to more than 300 million people in Africa through our infrastructure. Our continued partnership with the EIB will see our company continue to deploy its fibre optic expansion plans to build over 20,000 kilometres across Eastern, Central, and Southern Africa providing regional and rural connectivity by serving underserved areas. This will play a major role in transforming quality internet penetration, access, and affordability,” added Maru.
The Vice-President, EIB, Thomas Östros noted, “The European Investment Bank is committed to accelerating digitalisation across Africa and pleased to strengthen our partnership with BCS to transform high-speed fibre optic networks in the DRC. Expansion of the fibre optic backbone will enable local communities to benefit from mobile broadband and hospitals and schools to be connected to the rest of the world.”
The investment would connect currently underserved communities and unlock new opportunities for local entrepreneurs, according to the statement. Job opportunities would be created and 319 schools, 70 hospitals and health centres will be getting direct telecoms connections, boosting the quality of education and public healthcare in the country.
BCS Group also disclosed that it had entered into a long-term funding partnership with EIB worth $10m and was sequel to an $18m funding the firm received from the bank in 2018. “This project shall contribute towards the construction of 1,200 KMs of fibre which is part of the 20,000 kms that BCS is planning to build in Southern, Central and Eastern Africa over the next 3 years.
