Mobile base station company Africa Mobile Networks (AMN) plans to invest $550 million in rural network infrastructure upgrades throughout sub-Saharan Africa over the next three years.
In a statement, the company says the investment is intended to fill rural connectivity gaps that currently exist in many countries in the sub-Saharan Africa region.
The UK-based company, which builds and operates mobile network base stations for licensed for operators in rural areas in sub-Saharan Africa, says it plans to build 5,000 base stations across 12 countries.
AMN also says it plans to first raise $375 million in new investment, as a combination of both equity and debt, to fund the $550 million project.
ANM expects the project to generate an additional 20 million new subscribers in sub-Saharan Africa worth $650 million in airtime revenues per annum.
The company operates throughout Africa including the West, East and southern regions.
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