In a significant development for Africa's telecommunications infrastructure, NuRAN Wireless Inc. has secured a two-year term loan facility worth US $5 million from the Facility for Energy Inclusion (FEI), managed by Cygnum Capital. The loan, designed to support the construction of renewable energy assets for mobile network infrastructure, aims to accelerate NuRAN's Network as a Service (NaaS) operations in Cameroon and the Democratic Republic of the Congo (DRC).

A Step Forward for Rural Connectivity

NuRAN Wireless has established itself as a leading supplier of mobile and broadband wireless infrastructure solutions, specializing in serving remote and rural regions. This new loan facility is a significant boost for the company's growth strategy, allowing NuRAN to deploy over 500 new sites in Africa. Combined with cash generated from operating sites, the proceeds will cover all material and construction costs for new sites.

Expanding Reach in Africa

The loan facility will help NuRAN continue its mission of "Bridging the Digital Divide, One Connection at a Time." With this funding, the company is positioned to extend wireless network coverage to more remote areas, where connectivity has been traditionally limited. This move aligns with NuRAN's broader strategy to support sustainable development in Africa through renewable energy-powered telecommunications infrastructure.

Collaboration with Industry Leaders

The loan facility is secured by the assets of NuRAN's subsidiaries and is part of a larger collaboration with industry leaders in renewable energy and telecommunications. Francis Letourneau, CEO of NuRAN Wireless, emphasized the significance of the deal, stating, "This marks a significant milestone in NuRAN's financing strategy for its NaaS operations and is the result of extensive efforts by both FEI's and NuRAN's teams in completing the final due diligence and debt structuring."

Cygnum Capital, which manages FEI, has a history of supporting innovative renewable energy projects in Africa. The Managing Director and Fund Lead at Cygnum, Carmen de Castro, highlighted the importance of this partnership, saying, "Providing this facility to NuRAN Africa marks another noteworthy achievement for the Fund's leading role to support the energy transition in the telecommunication industry in Africa."

Looking Ahead

With this loan facility, NuRAN Wireless is poised to make significant strides in closing Africa's digital divide. As the company moves forward with its construction plan for 2024, the focus will be on achieving key milestones and demonstrating the impact of its work on the ground. The commitment to renewable energy and sustainable development places NuRAN in a strong position to drive positive change in the African telecommunications landscape.

Conclusion

As Africa marches towards a digital future, NuRAN Wireless emerges as a catalyst for change, bridging the gap between aspiration and access. The company's partnership with Cygnum Capital's FEI fund underscores a shared vision of inclusive growth and technological empowerment. Investors and stakeholders alike are encouraged to recognize the transformative potential of NuRAN's initiatives, heralding a new era of connectivity and opportunity across the continent.

View original press release here: https://www.accesswire.com/857025/nuran-enters-into-us-5m-loan-facility