Eaton Towers, an African telecom mast ownership and management company, secured a Shs153 billion ($60 million) loan facility to upgrade telecommunications towers in Uganda.

The facility acquired from Stanbic Bank Uganda, a subsidiary of the Standard Bank Group and International Finance Corporation (IFC) will be invested in new telecom towers as well as maintaining and managing those in existence.

According to chief financial officer of Eaton Towers Mr. Peter Lewis, “Mobile operators in Africa are increasingly viewing tower sharing as a key strategy to facilitate reductions in operating costs, enabling them to focus on providing mobile services,”

He added: “The facility will allow us to consolidate our position. This latest round of debt funding is a clear demonstration of our ability to efficiently leverage our assets across Africa.”

The funds come at a time when a number of telecom operators in Uganda are struggling to offer quality services to customers, thus calling for the need for players to upgrade systems as well as link up services.

From Monitor

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