Business
European bank earmarks €270m for expanding digital infrastructure in Africa
Speaking during the announcement, officials described the agreement as a milestone that reflects confidence in Africa’s digital transformation agenda.
Senior executives from Yas, EBRD officials, development partners, and representatives from participating institutions during a high-level ceremony. (Courtesy photo)
By: Emmah Kabarungi, Journalist @New Vision
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Telecommunications infrastructure company Yas and the European Bank for Reconstruction and Development (EBRD) have announced a landmark €270m financing agreement, marking a major step toward expanding digital infrastructure and improving connectivity across Africa.
According to a press release issued today (Friday, July 10), the agreement was unveiled during a high-level ceremony attended by senior executives from Yas, EBRD officials, development partners, and representatives from participating institutions.
The event highlighted the growing partnership between the private sector and international financial institutions in driving sustainable economic development.
The financing package is expected to support the expansion and modernisation of telecommunications infrastructure, improve network quality, and extend digital services to underserved communities.
The investment is also anticipated to create employment opportunities and strengthen access to reliable communication services for businesses and individuals.
Speaking during the announcement, officials described the agreement as a milestone that reflects confidence in Africa’s digital transformation agenda.
The financing package is expected to support the expansion and modernisation of telecommunications infrastructure, improve network quality, and extend digital services to underserved communities.
The investment is also anticipated to create employment opportunities and strengthen access to reliable communication services for businesses and individuals.
Speaking during the announcement, officials described the agreement as a milestone that reflects confidence in Africa’s digital transformation agenda.
They emphasised that improved connectivity will play a key role in supporting innovation, financial inclusion, education, healthcare, and economic growth.
Representatives from both Yas and EBRD reaffirmed their commitment to fostering long-term investment in digital infrastructure, noting that strong partnerships are essential to accelerating inclusive development and bridging the digital divide.
The €270 million agreement stands as one of the significant financing arrangements in the region’s telecommunications sector, underscoring the importance of strategic investment in expanding access to modern digital services and supporting Africa’s rapidly growing digital economy.
EBRD President Odile Renaud-Basso said: “I am very pleased to sign this first investment agreement with Yas, which reflects the EBRD’s commitment to strengthening digital connectivity. By supporting long-term investment in critical digital infrastructure, we will help to build more resilient and competitive markets while mobilising additional capital from institutional investors to accelerate sustainable development and innovation.”
Representatives from both Yas and EBRD reaffirmed their commitment to fostering long-term investment in digital infrastructure, noting that strong partnerships are essential to accelerating inclusive development and bridging the digital divide.
The €270 million agreement stands as one of the significant financing arrangements in the region’s telecommunications sector, underscoring the importance of strategic investment in expanding access to modern digital services and supporting Africa’s rapidly growing digital economy.
EBRD President Odile Renaud-Basso said: “I am very pleased to sign this first investment agreement with Yas, which reflects the EBRD’s commitment to strengthening digital connectivity. By supporting long-term investment in critical digital infrastructure, we will help to build more resilient and competitive markets while mobilising additional capital from institutional investors to accelerate sustainable development and innovation.”