Deal Street

Eastcastle Infrastructure Gets USD 130 Mn Backing For Africa Towers
Eastcastle Infrastructure Gets USD 130 Mn Backing For Africa Towers

Adenia Partners (Adenia), a private equity firm focused on Africa, African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, and the International Finance Corporation (IFC), a member of the World Bank Group, have partnered to invest USD 130 Mn in Eastcastle Infrastructure (Eastcastle), a company specializing in Africa’s telecoms tower sector.

Eastcastle Infrastructure was established in 2020 to pursue new build-to-suit telecom tower and related infrastructure opportunities for their core existing MNO relationships in Nigeria, the Democratic Republic of Congo, and the Ivory Coast.  Eastcastle will use the funds to support its build-to-suit approach, which will see new telecom towers built in the Democratic Republic of Congo, Nigeria, and Côte d’Ivoire.