IFC has announced a partnership with Togolese mobile operator and AXIAN Telecom subsidiary, Togocom, to scale up access to quality mobile connectivity for millions of subscribers, individuals, and businesses in Togo, supporting the countrys digital transformation
Under the partnership, IFC will provide Togocom with a loan of US$64.9mn structured with the participation of Société Générale Benin through its branch Société Générale Togo and with Ecobank Togo, to help the company modernise its infrastructure, accelerate the rollout of its 4G network, expand its fiber network, and improve its data traffic quality and speed.
Togocom 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 and serving around 38 million customers.
IFC's investment will help Togocom extend its full 4G coverage and fiber network, supporting the Togolese government's Digital Transformation Strategy. The strategy aims to foster strong growth, social inclusion, and job creation by providing mobile and fixed broadband connectivity to 95% of the population, and ensure that 95% 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. This investment is testament to our dedication to consistently champion economic development and digitalisation in Togo,"stated Pierre Antoine Legagneur, CEO of Togocom.
"The partnership with IFC marks a decisive step to improve access to equipment and high-speed internet and also to generate economic opportunities for our population,"remarked Cina Lawson, minister of digital economy and transformation of Togo. "Beyond its economic impact, digital tools have the potential to enhance the daily lives of our citizens, and facilitate access to education, healthcare, and targeted social assistance. Togo's commitment to digital innovation, strengthened by this partnership, demonstrates our determination to build a progressive and technologically advanced nation for future generations."
"Providing reliable mobile connectivity is critical to bridge the digital divide in Togo. IFC's investment in Togocom is testimony to our commitment to support Togo's efforts to advance its digital transformation strategy to foster growth, social inclusion, and job creation," said Olivier Buyoya, IFC regional director for West Africa.
IFC's investment in Togocom is in line with its broader strategic focus on infrastructure. IFC offers long-term financing and industry-leading advisory expertise to develop infrastructure projects that provide essential services. In 2023, IFC invested US$1.76bn to support digital infrastructure and help connect the unconnected in Africa.
