STOA, a French investment firm focused on long-term infrastructure and energy projects in emerging markets, has announced a $27 million strategic equity investment in Atlas Tower Kenya (ATK), one of the country’s fastest-growing independent telecom tower operators.
This investment marks a significant milestone for ATK, which has been expanding its footprint across Kenya since 2019, with a portfolio of over 450 telecom towers. The company’s infrastructure spans urban centers, rural areas, and underserved communities, supporting mobile network operators and enhancing digital connectivity nationwide.
ATK is backed by Kalahari Capital, a private investment firm focused on infrastructure and technology ventures in Africa.
Strategic Partnership to Accelerate Growth and Impact
The partnership aims to accelerate ATK’s growth trajectory while reinforcing its commitment to bridging Kenya’s digital divide. STOA’s investment brings not only capital but also deep development expertise, which will support ATK’s operational expansion and sustainability goals.
Marie-Laure Mazaud, CEO of STOA, commented:
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, CEO of Atlas Tower Kenya and founding member of Kalahari Capital, 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.
Focus on Sustainable and Inclusive Connectivity
The investment aligns with broader efforts to expand digital infrastructure in Africa, particularly in regions where connectivity remains limited. ATK’s strategy includes deploying towers powered by green energy solutions, contributing to both environmental sustainability and cost efficiency. The transaction is subject to customary closing conditions, including regulatory approval from the Competition Authority of Kenya.
