Togolese telco Togocom has secured a $60.2 million loan from the International Finance Corporation (IFC) to help fund the modernization of its network infrastructure.

This will include the expansion of its 4G LTE and fiber-optic services.

– Getty Images

The agreement was signed yesterday (January 11).

Togocom, which is owned by Axian Group, has more than four million mobile subscribers across the country.

"The partnership with the IFC is a major milestone, not only in regards to the better access to equipment and high-speed internet but also in terms of economic opportunities it will help generate for our people," said Cina Lawson, Minister of Digital Economy and Digital Transformation.

Togocom said it's aiming to provide mobile Internet to 95 percent of the population by 2025 as part of its digital transformation strategy.

Back in 2021, the telco deployed its 5G technology at the International Port of Lomé, in the Administrative Area, and Adétikopé’s Industrial Platform.