Liquid Intelligent Technologies and Eastcastle Infrastructure have secured an $82.8 million private debt facility from the Emerging Africa and Asia Infrastructure Fund (EAAIF) to accelerate the expansion of critical digital infrastructure across the continent.
The facility, managed by investment firm Ninety One, will support two parallel initiatives aimed at closing Africa’s connectivity gaps. Eastcastle will receive $32.8 million to expand its tower network in the Democratic Republic of Congo (DRC) from 1,072 to 1,800 sites, focusing on improving coverage in rural and remote areas.
Liquid Intelligent Technologies will receive $50 million as part of a broader $450 million financing package. The funds will support the continued expansion of its terrestrial fibre network, which already spans more than 110,000 kilometres across 25 African countries, including Kenya, South Africa, and Zimbabwe.
The fibre backbone provides essential transport infrastructure for data storage, processing, and high-capacity connectivity used by major operators, enterprises, and hyperscalers.
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EAAIF described the dual investment as a strategic step to de-risk and scale the physical and digital networks underpinning Africa’s rapidly growing digital economy
“By targeting both localised tower access and cross-border fibre transport, EAAIF is addressing Africa’s digital connectivity deficit,” the fund stated
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Hardy Pemhiwa, President and Group Chief Executive Officer of Cassava Technologies, the parent company of Liquid Intelligent Technologies, welcomed the partnership.
“This partnership with EAAIF represents both a financial and strategic milestone for Liquid. The strengthening of our balance sheet will be crucial to our cross-border fibre network and the continuation of Africa’s digital growth story,” Pemhiwa said.
Peter Lewis, Co-founder and Director of Eastcastle Infrastructure, added: “The financing package will help scale our network of towers as we tackle the DRC’s critical infrastructure bottleneck and continue to drive sustainable, energy-efficient connectivity.”
