Johannesburg: AfricUpdate – News Desk
STOA, a French long-term infrastructure and impact investor, has signed a $27 million strategic equity investment into Atlas Tower Kenya (ATK) one of the country’s fastest-growing independent telecom tower companies. The investment marks a significant step in STOA’s strategy to support the expansion of sustainable digital infrastructure across Africa.
Backed by Kalahari Capital, Atlas Tower Kenya owns and operates more than 450 telecom towers nationwide, providing critical digital infrastructure that enables mobile network operators to deliver reliable and ubiquitous connectivity. ATK has been operating in Kenya since 2019 with a blended mix of sites in urban, rural, and underserved communities.
The investment also aligns with STOA’s mandate to promote sustainable infrastructure, enabling Atlas Tower Kenya to expand its use of solar power and battery storage systems across its network. This will reduce diesel consumption and enhance the company’s climate-conscious operations. Completion of the transaction is subject to customary closing conditions, including regulatory clearance from the Competition Authority of Kenya (CAK).
