In line with EAIF’s use of proceeds, 400k new consumers are expected to benefit. The largest impact will be felt by first time users of internet and those who suffer from unreliable network coverage.

A number of firms are expected to benefit. The largest impact will be felt by those that are highly dependent on internet for business operations and/or suffer from connectivity issues.

SDG assessment

9.C – Significantly increase access
to Information Communication Technology (ICT) and provide universal and affordable access to the internet.

Challenge: Only two regional bonds have been successfully issued for ICT in SSA. International and regional capital markets play a crucial role in reducing infrastructure gaps by mobilising private capital into key sectors such as ICT.

Channel: The bond enables Axian (a Tanzanian company) to access large pools of international capital to deploy into ICT infrastructure across SSA.

Outcome: Deepen and diversify the pool of capital available for infrastructure development in SSA.

Mobilised $302m of private sector investment.

Transition: Axian is actively deploying solar to towers to minimise diesel consumption.

As part of the due diligence process, 20 HSES enhancement opportunities were identified which are now reflected in the Project Environmental and Social Action Plan (ESAP).