PROJECT

Projects

Summary of Investment Information

Project Number

35366

Company Name

EATON TOWERS UGANDA LTD

Date SPI Disclosed

Aug 26, 2014

Country

Uganda

Region

Africa

Projected Board Date

Sep 30, 2014

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Gbl Infrastructure & Natural Resources

Industry

Telecommunications and Technology

Previous Events

Approved : Jan 23, 2015
Signed : Jun 9, 2015
Invested : Jul 9, 2015

Sector

Mobile Telephony

Project Description

The project consists of the acquisition, refurbishment, operation, maintenance and leasing of tower sites by Eaton Towers Uganda Limited (“ETUL” or the “Company”), a Uganda-based tower company. Founded in 2011, ETUL is 100% owned by Eaton Towers Limited (formerly ETW Africa Holdings UK Limited) (“ETL” or “Eaton Holding”). The acquisition component of the project consists of the purchase of existing tower sites from Airtel Uganda Limited (“Airtel Uganda”). This is the Company’s third tower portfolio acquisition which almost doubles its size and thereby transforming ETUL into a larger player furthering its economies of scale. IFC and other lenders and shareholders also financed ETUL’s first two tower portfolio acquisitions and its subsequent launch in 2012.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation