- Togocom, a Togolese mobile operator and a subsidiary of AXIAN Telecom, has received a €55 million ($60.2 million) loan from the International Finance Corporation (IFC), a development financing institution, to support digital transformation in Togo.
- According to a statement, Société Générale Benin, via its branch Société Générale Togo, and Ecobank Togo contributed to the loan.
- This development will assist the telco in modernising its infrastructure and enhancing the speed and quality of its data traffic.
The IFC investment will also support the Togolese government's Digital Transformation Strategy by helping to expand the mobile operator's 4G coverage and fibre network.
The digital transformation strategy aims to promote economic growth, social inclusion, and the creation of employment opportunities. It intends to achieve this by providing mobile and fixed broadband connectivity to 95% of the population.
Another objective is to guarantee that by the end of 2025, Internet connectivity will be available in 95% of public administration buildings, schools, and hospitals.
Cina Lawson, the country's Minister of Digital Economy and Transformation, believes that digitalisation has the potential to improve citizens' daily lives in addition to the financial benefits of the collaboration. It includes improving access to education, healthcare, and targeted social services.
“Togo's commitment to digital innovation, strengthened by this partnership, demonstrates our determination to build a progressive and technologically advanced nation for future generations," he says.
With a population of over 9 million, 65.58% of Togo's population is expected to have access to the Internet by 2024. Besides, the number of mobile Internet users in the county is 1.95 million, while the number of Internet users is about 6.07 million.
Togocom is a subsidiary of AXIAN Telecom, a telecommunications services provider. The company serves about 38 million customers across eight countries, including Madagascar, Comoros, Réunion, Mayotte, Senegal, Togo, Uganda, the Democratic Republic of the Congo, and Tanzania.
Nokia declared in November 2020 that it had reached a three-year contract with Togocom to roll out 5G technology across the nation. The first rollout of this technology in West Africa took place with the launch of the 5G network in the capital city of Lomé.
In May 2021, the World Bank disclosed its approval of $11 million in financing from the International Development Association (IDA) to enhance connectivity and foster the advancement of Togo's digital economy.
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