IFC plans $59 million telecom tower financing for Eastcastle in DR Congo

International Finance Corporation (IFC) is considering a $59 million financing package for Eastcastle Infrastructure DRC S.R.L.U. to accelerate telecom tower expansion in the Democratic Republic of the Congo, part of a broader $180 million funding plan aimed at strengthening digital infrastructure in one of Africa’s most underserved markets.

The proposed investment includes the reinstatement of up to $30 million in debt alongside a new $29 million blended finance facility, designed to expand network coverage, improve mobile connectivity, and support long-term infrastructure development across the country.

Expanding telecom access in underserved regions

The project targets the rollout and operation of shared telecom tower infrastructure across the Democratic Republic of the Congo, where limited network capacity continues to constrain mobile broadband penetration.

Eastcastle Infrastructure, established in 2020, operates as a platform for building and managing telecom towers across the DRC and Nigeria. Its Congolese subsidiary oversees a geographically dispersed network, including sites in remote and security-constrained regions where connectivity gaps remain acute.

By deploying shared infrastructure, the initiative is expected to lower costs for mobile network operators while improving service quality, reducing duplication, and increasing efficiency across the telecom value chain.

Why this investment matters

The financing highlights growing investor focus on Africa’s digital infrastructure, particularly in frontier markets where connectivity remains limited despite rising demand for mobile and data services.

With internet penetration in the DRC still among the lowest globally, expanding tower infrastructure is critical to unlocking economic activity, enabling digital services, and supporting financial inclusion.

Driving sustainability and long-term capital

Beyond network expansion, the project integrates energy-efficient solutions and optimized power strategies to reduce environmental impact, aligning with broader sustainability goals in infrastructure development.

IFC’s participation is expected to play a catalytic role by offering longer-tenor financing than typically available in local markets, while also mobilizing additional capital from development finance institutions and private investors.

Ownership and institutional backing

Eastcastle Infrastructure DRC is wholly owned by Eastcastle Infrastructure Limited, which is controlled by Eastcastle Holdings Limited.

The platform is backed by a mix of institutional investors and founders, including Africa Infrastructure Investment Managers (34.84%), Adenia Partners (32.85 percent), IFC (18.38 percent), and co-founders Peter Lewis and Pankaj Kulshreshtha, who collectively hold 13.48 percent.

IFC pipeline and project status

The investment is classified as a Category B project under IFC’s environmental and social framework, indicating limited and manageable risks consistent with prior engagements.

IFC previously supported Eastcastle through an equity investment in 2021 and a $30 million debt facility in 2023, with environmental and social performance rated as satisfactory.

The current proposal remains subject to board approval, with a decision expected by May 30, 2026.

Strengthening Africa’s telecom infrastructure

The planned financing underscores IFC’s broader strategy to expand digital infrastructure across Africa by supporting tower-sharing platforms that enhance connectivity and reduce costs.

By scaling telecom infrastructure in markets like the DRC, IFC aims to accelerate broadband penetration, improve network reliability, and enable more inclusive digital access across underserved regions.