International Finance Corporation (IFC) provides €55M loan to Togocom

Telecom
Thursday, 11 January 2024 16:22
International Finance Corporation (IFC) provides €55M loan to Togocom

(Togo First) - The International Finance Corporation (IFC) will provide a €55 million (CFA36 billion) loan to the Togolese mobile operator TOGOCOM. The two sides inked the agreement on January 11, at the 13 February Hotel in Lomé, the capital.

Togocom will use the funds to modernize its infrastructure, expand its 4G network, and its fiber optic network, and improve the quality and speed of its internet offer.

“At TOGOCAM, we are very proud of playing a key role in the acceleration of the country’s digital transformation and improved connectivity for all Togolese citizens, wherever they are on the territory. This investment attests to our commitment to consistently support economic growth and service digitalization in Togo,” commented Pierre-Antoine Legagneur, Managing Director, TOGOCOM.

Under its digital transformation strategy, Togo aims to provide mobile internet to 95% of its population by 2025. Within the same timeframe, the country intends to provide internet access to all public administrations, and 95% of hospitals and schools. 

“The partnership with the IFC is a major milestone, not only in regards to the better access to equipment and high-speed internet but also in terms of economic opportunities it will help generate for our people, ” declared Cina Lawson, Minister of Digital Economy and Digital Transformation. “Togo’s commitment to digital innovation, bolstered by this partnership, translates our determination to build a progressist and technologically advanced nation for future generations,” she added.

Ayi Renaud Dossavi

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