Kenya’s ambition to bridge its digital divide has received a major boost after French impact investor STOA committed $27 million in strategic equity funding to Atlas Tower Kenya (ATK), one of the country’s fastest-growing independent telecom tower companies.
The investment, announced on 29 September, is expected to accelerate the expansion of critical telecom infrastructure across the country, enhancing internet connectivity for urban, rural, and underserved communities.
Atlas Tower Kenya, backed by Kalahari Capital, currently operates more than 450 telecom towers nationwide. These towers serve as the backbone of mobile networks, allowing service providers to deliver reliable coverage and digital services.
With STOA’s support, ATK plans to scale its operations, expand its tower portfolio, and integrate sustainable energy solutions, including solar power and battery storage systems. The move will reduce reliance on diesel consumption and align with climate-conscious strategies to green digital infrastructure.
Marie-Laure Mazaud, CEO of STOA, described the partnership as a milestone for the company’s strategy in Africa.
“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 commitment to advancing the country’s digital transformation,” she said.
The investment represents STOA’s long-term approach to sustainable infrastructure and impact-driven development. Since entering Kenya in 2019, Atlas Tower Kenya has adopted a blended model of sites, expanding its reach to diverse geographies, including rural and underserved areas.
Nathan Foster, founding member of Kalahari Capital and CEO of Atlas Tower Kenya, welcomed the partnership, highlighting the role it will play in scaling growth.
“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,” he said.
Foster added that the partnership would support Atlas Tower Kenya’s shift toward greener operations:
“Partnering with STOA will help further unleash our speed strategy while leaning into more efficient green power production. This partnership will help ensure we continue as the number one infrastructure choice for our clients.”
Kenya’s digital economy has been expanding rapidly, with internet penetration estimated at more than 40 million users. However, disparities persist between urban centres and rural communities, where connectivity is often unreliable or absent.
Randi Clendennen, founding member of Kalahari Capital and Chief Strategy Officer of Atlas Tower Kenya, said the investment would allow the company to double down on sustainable expansion.
“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,” she said. “Our focus remains on delivering the best in class service to customers while helping to ensure equitable wireless access to all users in Kenya.”
STOA’s mandate goes beyond financial returns. The investor, which specialises in infrastructure projects across emerging markets, emphasises long-term resilience and environmental responsibility. Its entry into Kenya reflects a broader push to integrate sustainability into Africa’s rapidly growing telecom sector.
By enabling Atlas Tower Kenya to expand renewable energy use, the partnership aims to cut emissions associated with diesel generators, historically a major source of power for remote telecom towers.
The deal is also aligned with Kenya’s national goals to expand digital access as part of its Vision 2030 development plan. Improved digital connectivity in Kenya is expected to boost productivity across industries, empower small businesses, and support digital government initiatives.
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