EIB Supports Digital Transformation Project In DRC With $10m Investment

Posted by Eric Ojo African News, Business News, Latest Headlines Friday, November 11th, 2022

(AFRICAN EXAMINER) – European Investment Bank (EIB) has announced its investment $10 million in the new digital connectivity project that is being implemented by Bandwidth and Cloud Services (BCS) Group, in the remote eastern region of the Congo Democratic Republic (DRC).

The $10 million support which is coming under the EIB Global first quasi-equity investment and second cooperation with BCS was announced today in Cape Town, South Africa. It is part of EIB’s continued partnership with BCS following a USD18 million funding in late 2018.

BCS is a Pan-African telecom infrastructure firm with specialization in Fiber optic connectivity, providing connectivity solutions, reaching an estimated 80m+ end users with a network coverage spanning over 12,500 Kms

The organization is a carrier-neutral, Internet Bandwidth wholesale provider with a presence in East, Central, and Southern Africa regions. Its Bandwidth and Cloud services offer wholesale internet, Fiber transmission, and construction services to Mobile operators, ISPs, Content Providers, and Social Media Providers. Operating in Angola, The DRC, Kenya, Rwanda, Uganda, Zambia, Zimbabwe, Mozambique, and Malawi.

BCS further serves Ethiopia, Botswana, Burundi, Namibia, and South Sudan at their respective border points.

Similarly, the EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society.

The EIB backed investment by BCS will connect areas currently underserved by high-speed telecoms. Better digitalisation will unlock new opportunities for local entrepreneurs and support job creation, and direct telecom connections to 319 schools and 70 hospitals and health centres will improve education and public health.

The investment will enable regions impacted by conflict and the COVID-19 pandemic to benefit from better mobile broadband coverage and reliable communications. It is also estimated that more than 2.5 million people living in remote eastern regions of the country will benefit from the investment.

The project shall contribute towards the construction of 1,200 KMs of fiber which is part of the 20,000 kms that BCS is planning to build in Southern, Central and Eastern Africa over the next 3 years.

Over the last decade the EIB has provided more than EUR 1 billion for telecom investment across Africa.

Vice-President of EIB, Thomas Östros said the bank is committed to accelerating digitalisation across Africa and pleased to strengthen its partnership with BCS to transform high-speed fibre optic networks in the DRC.

“Expansion of the fibre optic backbone will enable local communities to benefit from mobile broadband and hospitals and schools to be connected to the rest of the world”, he said.

The Managing Director of BCS Group, Yonas Maru noted that Africa is at a crucial point in the digitization age, adding that the rapid growth of her Telecommunication infrastructure is one of the key factors that will allow the realization of her true potential.

“As BCS we are excited to be part of Africa’s journey to achieving regional connectivity. Our mission is to enable internet access to more than 300 million people in Africa through our infrastructure.

“Our continued partnership with the EIB will see our company continue to deploy its fiber optic expansion plans to build over 20,000 kilometers across Eastern, Central, and Southern Africa providing regional and rural connectivity by serving underserved areas. This will play a major role in transforming quality internet penetration, access, and affordability”, he stressed.