EAAIF pledges US$82.8 million in loans to Eastcastle DRC and Liquid Intelligent Technologies

Details: James Barton; Category: Investment; 05 August 2026; 307 views

The Emerging Africa & Asia Infrastructure Fund (EAAIF) is loaning a combined US$82.8 million to two Africa-focused telecom infrastructure firms.

The fund will loan US$32.8 million to Eastcastle Infrastructure DRC to finance 728 new telecom towers in the Democratic Republic of Congo (DRC), and US$50 million to Liquid Intelligent Technologies to refinance and future-proof its 110,000-kilometre pan-African fibre-optic network.

These parallel investments highlight EAAIF's strategic focus on de-risking and scaling the physical and digital networks that underpin the continent's rapidly growing digital economy.

In the DRC, where mobile internet penetration is 17%, and tower density is among the lowest globally (one tower per 15,000–20,000 people compared to one per 600 in the US), EAAIF’s support for Eastcastle is critical to addressing infrastructure availability, which is the primary bottleneck for mobile network operators.

Around 70% of the new towers will be located in rural and underpenetrated regions, which will help to boost connectivity in the DRC. The transaction will also finance solar panel installations and lithium battery upgrades to drive energy efficiency, circumvent grid failures, and reduce Eastcastle’s reliance on diesel.

EAAIF’s US$50 million commitment to Liquid Intelligent Technologies forms part of a US$450 million restructuring and expansion package which will support the optimisation of Liquid's capital structure and the maintenance of its 110,000 km cross-border fibre network across 25 countries, including Kenya, South Africa and Zimbabwe.

Liquid’s network enables digital data storage and processing for major operators, enterprises, and hyperscalers across Africa. EAAIF’s investment in Liquid’s high-speed broadband and cloud infrastructure underlines its commitment to sovereign digital assets that drive economic growth. Reliable internet access also enables local enterprises to scale more effectively, fostering long-term, productive employment.

Martijn Proos, Co-Head of Emerging Market Alternative Credit at Ninety One, the fund manager of EAAIF, said: “These commitments to Eastcastle and Liquid demonstrate our belief in Africa’s digital expansion through localised access points and pan-African corridors, which must work simultaneously to power the continent's future.”