AMN gains US$20 million loan for network expansion

16 November 2022

Africa Mobile Networks (AMN) has secured a US$20 million loan from Finnfund and BlueOrchard Finance to further expand its network in rural areas of sub-Saharan Africa. This investment should make it possible to provide telecom services to an additional 35 million people.

“AMN connects the unconnected in sub-Saharan Africa by providing mobile network access for rural areas. We have a unique opportunity to accelerate digital inclusion in growing markets and digital infrastructure is a critical driver of sustainable growth and shared prosperity,” said Philipp Mueller, CEO of BlueOrchard.

This investment will support AMN's ambition to expand its portfolio from the current level of around 2,000 towers in 10 Sub-Saharan African countries to over 10,000 towers in over 20 countries in the region by the end of 2025.

“It is estimated that more than 300 million people in sub-Saharan Africa live in villages that do not have usable mobile network service today. We set out to meet this challenge,” said Michael Darcy, president and CEO of Africa Mobile Networks.