STOA invests $27m in Kenyan tower company
Atlas Tower Kenya owns and operates more than 450 telecom towers nationwide.
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STOA, the French long-term infrastructure investor, has signed a $27 million strategic equity investment into Atlas Tower Kenya (ATK). It is one of the country’s fastest-growing independent telecom tower companies.
Backed by Kalahari Capital, Atlas Tower Kenya owns and operates more than 450 telecom towers nationwide. ATK has been operating in Kenya since 2019 with a blended mix of sites in urban, rural, and underserved communities.
Marie-Laure Mazaud, CEO of STOA, said: “Atlas Tower Kenya has built a strong reputation for operational excellence and for addressing Kenya’s digital divide. This partnership reflects our confidence in the company’s strategy and our shared commitment to advancing the country’s digital transformation. By bringing long-term capital and development expertise, STOA will support Atlas Tower Kenya in its next phase of growth.”
Nathan Foster, founding member, Kalahari Capital, and CEO of Atlas Tower Kenya added: “We are thrilled to welcome STOA. Their investment underscores the fundamental value of Atlas Tower Kenya and provides the necessary resources to accelerate asset growth while continuing our mission of quality, efficiency, and positive impact. Partnering with STOA will help further unleash our speed strategy while leaning in on more efficient green power production.”
Completion of the transaction is subject to customary closing conditions, including regulatory clearance from the Competition Authority of Kenya.
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