MIGA guarantee to support broadband rollout in main cities

12 Jul 2012

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has issued guarantees of USD6.5 million to support the development of broadband services in Cameroon’s main cities. The funds will cover investments by Switzerland-based 4G Africa in its Cameroon subsidiary, HTT Telecom. The project involves an equity investment and a shareholder loan totaling USD5.5 million to support the establishment of a wireless broadband network by HTT Telecom in the three cities of Douala, Yaounde and Edea, to help lower tariffs and increase service reliability and availability. The coverage is for a period of up to ten years against the risks of transfer restriction, expropriation, and war and civil disturbance.