The project sponsor is with ETW Africa Holdings UK Limited ("ETWH" or the "Sponsor"). The Sponsor operates across three business segments: (i) tower building; (ii) tower ownership; (iii) tower maintenance; and (iii) information technology services in both ICT and telecommunication environments. ETWH was formed in 2009 through the merger of Q-Venture and Eaton Telecom Infrastructure Ltd. Currently the Sponsor is owned by Capital International Private Equity Funds VI LP (77.3%), ADP 1 Holding 1 (18.8%); Eaton Partner Investments II LLP (2.1%), Kingsbridge Investment Holdings (NR) (0.3%), and Kingsbridge International Investments Inc. (1.4%).

The total project cost is estimated at US$153 million. The proposed IFC investment is a senior loan for IFC’s own account of up to US$35 million.

30.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	30.0
Equity

* These investment figures are indicative

The project will be headquartered in Kampala, Uganda, and will provide tower network co-location and related services primarily to mobile operators in both urban and rural areas of the country.

(i) Expand mobile telecommunication access: With the improvements to current networks and construction of additional tower sites, existing mobile phone operators will be able to expand the reach of their services both in terms of geographic coverage and network traffic capacity. In addition, collocation reduces the incremental cost of expanding service for all carriers thereby allowing them to service remote and economically less developed areas where average revenues per user and minutes of use tend to be lower. (ii) Increased competition: The entry of Eaton Uganda will add a second player in the tower sharing market which will lower barriers to entry for smaller and newer mobile phone operators through access to leased towed facilities compared to building their own. (iii) Expand access to other ICT technologies: Eaton Uganda will be building a tower network capable of not only supporting mobile network traffic but also wireless broadband, backhaul and broadcast networks, which would increase the penetration levels of these technologies. (iv) Contribute to mitigating environmental impact and Climate Change: The Company''s constructed network and services offered will provide a cost effective opportunity for operators to lower their carbon emission as well as physical footprint by sharing infrastructure. Significant benefits of tower sharing arise from the material, energy and emissions savings incurred from building only one tower compared to each operator building their own site to cover the same terrain.

(i) Knowledge Sharing: IFC has developed good relationships with major telecom operators in Sub-Saharan Africa and will make its experience available to the Company. (ii) Establish and Maintain Good Social and Environmental Standards, Anti-Corruption and Anti-Money-laundering practices: IFC will work with Eaton Uganda to ensure that it develops and implements related policies and procedures that address these critical issues as the Company expands its operations in Uganda. (iii) Enhanced Opportunity to Provide Long-Term Funding: Given that the acquisition and expansion of shared telecommunication infrastructure is capital intensive, IFC''s ability to mobilize long term capital for operations of the Company in Uganda is essential. (iv) Long Term Partnership: Given Eaton''s plans to expand across the African continent, IFC''s ability to partner with the Sponsor to invest and mobilize additional financing across such a wide geographic area is an attractive proposition to the Sponsor.

Environmental and social risks and impacts in this project are expected to be limited, so the project is classified as Category B according to IFC''s environmental and social review procedure.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.