NuRAN Wireless Secures USD 12 Million Financing, Expands in Africa

NuRAN Wireless Inc. has announced a pivotal mandate letter with the Afrigreen Debt Impact Fund for a proposed senior debt financing of up to USD 12 million. This agreement marks the company's largest financing achievement to date, aiming to enhance mobile and broadband infrastructure across Africa. The financing structure involves multi-country, multi-currency, and multi-tranche components through NuRAN Wireless Africa Holding. The goal is to extend 2G, 3G, and 4G coverage to underserved rural communities.

NuRAN's first tower deployments in Ivory Coast highlight its market entry, bringing advanced 4G technology to rural areas. Additionally, the company is rolling out 3G technology in Cameroon to meet rising data demands. These initiatives align with NuRAN's mission to connect over one billion underserved individuals worldwide.

The proposed financing is contingent upon due diligence, internal approvals, and the execution of final documentation. NuRAN has committed to providing ongoing updates according to its disclosure obligations.