Eagle Towers, the portfolio division of Infra Impact Investment Managers, a South African infrastructure investment company, has secured over $5million (ZAR 100 million) loan facility that will be utilized to support the business’s expansion objectives. The Prescient Infrastructure Debt Fund of Prescient Investment Management provided the lending facility.
Eagle Towers is a business that builds, maintains, and operates telecommunications towers all across South Africa, with a focus on rural areas. The company’s goal is to close the digital gap by giving distant residents access to information, communication, and services. Mobile connectivity is crucial to the economic and social development of the nation especially as 32% of South Africa’s population lives in rural areas.
Eagle Towers worked closely with Infra Impact to find the best funding structure and source for its growth plans in order to help the company meet its goals. Eagle Towers got the contract after their efforts. Morné Edas, the company’s founder and co-managing partner, noted that they were pleased to have played a vital role in aiding Eagle Towers as they look to expand and grow their business. “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 Infra Impact Mid-Market Infrastructure Fund 1 provides growth funding for infrastructure companies with a South African focus that own actual assets that offer crucial services and have the opportunity to add value. The team’s historically profitable mid-market, value-add infrastructure strategy in the water, waste, energy, telecommunications, and related sectors is being followed by the fund’s capital deployment.
Placing Digital Infrastructure at the Top
One of the main enabling technologies for an instrumented and interconnected world is digital infrastructure. As electronic devices such as mobile phones, tablets, sensors, and integrated chips become more commonplace, they enable access to unprecedented volumes of data and their useful usage by using real-time analytics and offering insights for taking effective action. With digital connectivity gaining popularity globally, the variety of smart devices used by regular people may improve their quality of life in unimaginable ways.
South Africa must establish the required mechanical and human infrastructure in order to effectively capitalize on the opportunities presented by digital changes. As a result, these infrastructures will affect practically all industries and give both new and established firms the chance to stand out through innovations and remarkable growth.
The success of Eagle Towers’ funding round serves as evidence of the value of infrastructure investment in fostering sustainable growth and closing the digital gap. South Africa can continue to increase access to basic services and encourage economic and social growth in outlying areas with the assistance of companies like Infra Impact and Prescient Investment Management.
Conway Williams, Head of Credit at Prescient Investment Management, expressed delight for the collaboration and mentioned how the loan facility would contribute to expanded telecommunication coverage and lower access costs in South Africa. Williams further emphasized that backing these businesses is consistent 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.”