Togocom Secures $60.2 Million Loan to Enhance Nationwide Connectivity Upgrade

Togolese telecom company, Togocom, has secured a $60.2 million loan from the International Finance Corporation (IFC). This vital investment will fuel the expansion and modernization of Togocom’s network infrastructure, promising a significant boost in nationwide internet connectivity.

The loan agreement, signed on January 11, 2024, marks a crucial step in Togocom’s ambitious plans to bridge the digital divide. The funds will be directed towards expanding 4G LTE and fiber-optic services across the country, prioritizing previously underserved areas.

This targeted approach aims to bring reliable and affordable high-speed internet access to a broader swathe of the Togolese population.

“This partnership with the IFC is a game-changer for Togocom and for Togo’s digital future,” emphasized Pierre-Antoine Legagneur, Managing Director of Togocom. “By unlocking wider access to high-speed internet, we are not only empowering individuals but also propelling economic growth and fostering the digitization of essential services.”

Cina Lawson, Togo’s Minister of Digital Economy and Digital Transformation, echoed this sentiment, highlighting the transformative potential of the project. “This investment is more than just about better internet connection,” she stated. “It represents a key driver in our national development strategy, paving the way for enhanced digital opportunities and economic prosperity for all Togolese citizens.”

Togocom’s commitment to digital inclusion aligns with the Togolese government’s ambitious goal of achieving 95% mobile internet coverage and connecting 95% of public services by 2025. With the IFC’s backing, Togocom is poised to play a pivotal role in realizing this vision, unlocking a future of seamless connectivity and digital empowerment for all.

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