by Aluko Gladys
South African Spectrum Mobile and broadband wireless solutions provider NuRAN Wireless has announced a $5 million loan agreement with Cygnum Capital’s Energy Participation Fund (FEI) to build additional facilities across Africa. NURAN will receive the first $2.5 million in this area within five to ten business days. The first withdrawal includes $1.07 million to previously reimburse NURAN for the transportation and installation of renewable energy equipment in Cameroon. Prior to the publication of this report, NURAN said that in April 2024, it signed a loan agreement to develop renewable energy equipment for mobile phones in Cameroon and the Democratic Republic of Congo (DRC) with the aim of deploying its network as a Service. (NaaS). NURAN received its license in Cameroon in October 2023.
NURAN also said that in addition to operating cash, the funds will also help complete the initial contract for 122 sites and build 120 new sites. The expansion will improve connectivity in underserved areas in Cameroon and highlight the website’s recent work in the country. Francis Letourneau, President and CEO of NURAN Wireless, commented on the financial situation: “As we continue to add addresses to our inventory, we are confident that our business model will not only be successful, but will lead us to the 5,000+ locations already promised. NURAN, download DR Congo He said it will help more than 100 successful locations in the Republic of Turkey.
Additionally, NURAN said that the project management will start work in Ivory Coast by the end of 2024, and the proceeds will be used for the construction of facilities in South Sudan, subject to additional financing.