The International Finance Corporation (IFC) has announced a partnership with Togolese mobile operator Togocom, a subsidiary of AXIAN Telecom. Under this partnership, IFC will provide a EUR 55 million loan to Togocom to scale up access to quality mobile connectivity for millions of subscribers, individuals, and businesses in Togo, thereby supporting the country's digital transformation.
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Modernisation Drive
This financing will assist Togocom in modernising its infrastructure, accelerating the rollout of its 4G network, expanding its fiber network, and improving its data traffic quality and speed. Togocom, the result of the merger of Togo Telecom and Togocel, is part of AXIAN Telecom, a pan-African telecommunications services provider operating in eight countries through its subsidiaries in Madagascar, Comoros, Reunion and Mayotte, Senegal, Togo, Uganda, DRC, and Tanzania, serving around 38 million customers.
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Digital Strategy
According to the official statement, Togocom will utilise the funds to extend its full 4G coverage and fiber network, supporting the Togolese government's Digital Transformation Strategy. The strategy aims to provide mobile and fixed broadband connectivity to 95 percent of the population and ensure that 95 percent of hospitals, schools, and all public administration buildings have internet connectivity by the end of 2025.
"At Togocom, we take great pride in the critical role we play in advancing the country's digital transformation and fostering connectivity among all Togolese citizens, spanning from the remotest areas of the broader region," said Togocom.
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Investment in Infrastructure
IFC, a member of the World Bank Group, states that its investment in Togocom aligns with its broader strategic focus on infrastructure. The official release noted that in 2023, IFC invested USD 1.76 billion to support digital infrastructure and help connect the unconnected in Africa.
