A major investment from France is set to reshape Kenya’s digital infrastructure landscape after STOA, a Paris-based impact investor, committed Sh3.6 billion ($27 million) to Atlas Tower Kenya, one of the country’s fastest-rising telecom tower firms.
The deal, announced in Paris on September 29, 2025, places Atlas Tower Kenya in a stronger position to widen its network and transition its operations toward cleaner, more sustainable energy sources.
The company, supported by Kalahari Capital, already operates more than 450 towers across Kenya, connecting both major cities and remote communities.
STOA’s Chief Executive Officer, Marie-Laure Mazaud, said the move reflects a shared ambition to bridge Kenya’s digital divide while promoting long-term growth.
“This partnership reflects our confidence in the company’s strategy and our shared commitment to advancing the country’s digital transformation,” Mazaud explained.
“By bringing long-term capital and development expertise, STOA will support Atlas Tower Kenya in its next phase of growth.”
For Atlas Tower Kenya, the partnership brings a mix of growth capital and technical backing. Its Founding Member and Chief Executive Officer, Nathan Foster, said the investment would help the company scale its assets while keeping sustainability at the centre of its strategy.
“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,” Foster said.
“Partnering with STOA will help further unleash 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.”
Randi Clendennen, who co-founded Kalahari Capital and serves as Atlas Tower Kenya’s Chief Strategy Officer, called the deal a turning point in the firm’s journey.
She stated, “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.”
The new funding will also support a push towards renewable power, particularly the installation of solar and battery systems across existing and future tower sites.
The initiative is expected to cut diesel consumption, reduce emissions, and make the company’s infrastructure more resilient.
The transaction will be finalised once the Competition Authority of Kenya (CAK) grants regulatory clearance.
Upon completion, the partnership will not only expand the country’s telecommunications reach but also deepen its shift toward sustainable energy solutions, reinforcing Kenya’s position as one of Africa’s emerging digital economies.
