MIGA issues $6.5m guarantee for internet project in Cameroon
The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees of $6.5 million for a project which will establish a wireless network to deliver internet broadband services in three major cities in Cameroon.
MIGA granted the investments for the subsidiary of 4G Africa AG of Switzerland, HTT Telecom S.A. in Cameroon, which will execute the project.
“The coverage is for a period of up to 10 years against the risks of transfer restriction, expropriation, and war and civil disturbance,” said MIGA.
The project is expected to improve broadband internet provision in Cameroon’s main cities – Douala, Yaoundé, and Edéa and will lower internet tariffs as well as increase service reliability and availability in that country.
By Ekow Quandzie