In a transformative move aimed at bolstering internet access in Nigeria, Tizeti, a West African solar-based internet service provider, has secured long-term financing from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund. This strategic partnership is set to propel Tizeti's mission of establishing a cutting-edge broadband network across multiple states in Nigeria.
Chapel Hill Denham's Commitment
Chapel Hill Denham’s Nigeria Infrastructure Debt Fund has stepped forward with a commitment to provide essential long-term financing to Tizeti. This senior debt facility is earmarked to facilitate the expansive rollout of Tizeti’s state-of-the-art broadband network. The focus extends to covering 15 states in Nigeria, underscoring a commitment to enhancing digital infrastructure in the region.
Kendall Ananyi, Founder and CEO of Tizeti, envisions utilizing this financial support to construct last-mile digital infrastructure. The primary goal is to extend the reach of internet capacity to hitherto underserved Nigerian states. The ripple effect is anticipated to catalyze sustained development, foster value creation, enhance connectivity, and contribute to a more profound and extensive digital inclusion network. Tizeti aims not only to broaden its coverage from five to 15 states but also to emerge as the largest internet service provider in Nigeria by coverage.
Current Landscape and Service Expansion
Tizeti currently boasts a robust presence, serving over three million subscribers in Nigeria. This user base includes residential facilities, businesses, and hotspot users. The existing infrastructure relies on a network of solar-powered base stations strategically positioned across five states.
The injection of debt funding will be strategically deployed to construct new internet infrastructure. Additionally, Tizeti plans to acquire additional equipment to facilitate the seamless expansion of its services. The targeted states for this expansion include Delta, Akwa Ibom, Cross River, Abia, Anambra, Imo, Enugu, Abuja, Kano, and Kaduna. This strategic move not only reinforces Tizeti's foothold in Nigeria but also aligns with its broader role in enhancing West African connectivity.
Beyond Borders: Tizeti's Regional Impact
This financing comes on the heels of Tizeti's expanding collaboration with Microsoft. The partnership, announced in May, aimed at extending internet access to nearly five million people in Cote d’Ivoire, underscores Tizeti's regional impact beyond the borders of Nigeria.
Tizeti's strategic move to secure debt financing for broadband expansion signifies a pivotal moment in the evolution of digital infrastructure in Nigeria. With Chapel Hill Denham's support, Tizeti is not only poised to significantly enhance its coverage but also to play a central role in fostering digital inclusion, economic development, and connectivity across the West African region.