STOA Invests $27 Million in Atlas Tower Kenya to Accelerate Sustainable Digital Infrastructure Growth
The investment marks a significant step in STOA’s strategy to support the expansion of sustainable digital infrastructure across Africa.
STOA, a French long-term infrastructure and impact investor, has signed a $27 million strategic equity investment into Atlas Tower Kenya (ATK) one of the country’s fastest-growing independent telecom tower companies. The investment marks a significant step in STOA’s strategy to support the expansion of sustainable digital infrastructure across Africa.
Backed by Kalahari Capital, Atlas Tower Kenya owns and operates more than 450 telecom towers nationwide, providing critical digital infrastructure that enables mobile network operators to deliver reliable and ubiquitous connectivity. ATK has been operating in Kenya since 2019 with a blended mix of sites in urban, rural, and underserved communities.
“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.”
– Marie-Laure Mazaud, CEO, STOA
“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 un-leash our speed strategy while leaning in on more efficient green power production. This partnership will help ensure we continue as the #1 infrastructure choice for our clients.”
– Nathan Foster, Founding Member, Kalahari Capital, and CEO, Atlas Tower Kenya
“This is a landmark moment for Atlas Tower Kenya. With STOA’s backing, we will scale our tower portfolio, strengthen the sustainability of our operations, improve power generation, and reach more communities with critical wireless infrastructure. Our focus remains on delivering best in class service to customers while helping to ensure equitable wireless access to all users in Kenya.”
– Randi Clendennen, Founding Member, Kalahari Capital and CSO, Atlas Tower Kenya
The investment also aligns with STOA’s mandate to promote sustainable infrastructure, enabling Atlas Tower Kenya to expand its use of solar power and battery storage systems across its network. This will reduce diesel consumption and enhance the company’s climate-conscious operations.
Completion of the transaction is subject to customary closing conditions, including regulatory clearance from the Competition Authority of Kenya (CAK).
