Helios Towers Tanzania (HTT), a subsidiary of Helios Towers Africa Ltd, has announced the successful completion of a US$95-million equivalent upsizing of its syndicated term loan facility led by Standard Bank Group.

In a statement the telco said it would use the facility to invest in its local operations and finance the further expansion of its network of telecommunications towers across Tanzania.

According to HTT, since its launch in 2011, the Tanzanian market has seen the number of telecom base stations expand by approximately 5,500, whilst the number of towers has only grown by 2,900 due to increased tower sharing.

"This increased level of sharing highlights the impact that HTT has had on driving efficiencies and reducing the environmental impact of delivering the telecommunications services needed to facilitate development in emerging economies," says the company.

HTT describes Tanzania as one of the largest and fastest growing telecommunications markets in Africa, and says the country is growing at an annual rate of 14%.

"Over the last five years, HTT has established the independent TowerCo model in Tanzania through acquiring and upgrading 2,068 operator towers for colocation, and building over 1,000 multi-tenant towers," the company adds.

Kash Pandya, CEO of Helios Towers Africa, said: "Helios Towers Africa is pleased to announce the completion of this financing package in Tanzania while we continue our growth as a successful independent tower business across Africa. The continued support of our lenders re-emphasises the appetite of investors for this market, and we thank them for their continuing backing. The new facility in Tanzania will help us expand tower sharing solutions across the country and meet new demand for tower sharing, benefiting both the citizens and the environment."

Nina Triantis, Standard Bank's Global Head of Telecoms and Media, added, "Standard Bank is delighted to collaborate with HTA again, this time with a new debt facility for HTT, the leading independent tower company in Tanzania. The Company's reputation for operational excellence and client-focused service make any investor and customer confident in their growth and outlook. This transaction demonstrates once again our continued support to infrastructure development in Africa through our excellent understanding and serving of the needs of our clients due to our sector knowledge and our on-the-ground presence in 20 sub-Saharan countries."