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Financings

Nuran Wireless obtains approval for $1M (U.S.) drawdown

By The Northwire Desk — AI Analysis Sep 29, 2025 · 12:36 NUR · 0.025 Nuran Wireless Inc
NUR · Price

Executive Summary

  • Nuran Wireless Inc. received a third $1 million USD drawdown from the Facility for Energy Inclusion (FEI) managed by Cygnum Capital, bringing total funded amount to $4.55 million USD under the $5 million USD loan facility.
  • The drawdown follows recent amendments with Orange and approval of an infrastructure licence for Nuran’s operations in the Democratic Republic of the Congo (DRC).
  • Proceeds will be used to expand mobile sites across sub‑Saharan Africa, restart DRC operations, and support Nuran’s Network‑as‑a‑Service (NaaS) model, advancing its 2025 goal of activating numerous rural sites.

Key Details

  • Loan Facility: $5 million USD facility announced 26 April 2024; third drawdown of $1 million USD executed.
  • Prior Drawdowns: $2.5 million USD on 16 July 2024; $1.05 million USD on 28 Feb 2025.
  • Remaining Undisbursed Amount: $450,000 USD to be released upon delivery of an additional 50 sites.
  • Purpose of Funds:
  • Expansion of mobile telecommunications sites in Africa.
  • Restarting operations in the DRC under a newly amended agreement with Orange.
  • Covering operational and construction costs for rural infrastructure supporting NaaS model.
  • Strategic Goal: Accelerate progress toward activating sites across sub‑Saharan Africa by end‑2025, connecting thousands of remote users.
  • Funding Source: Facility for Energy Inclusion (FEI), a debt fund within Cygnum Capital’s portfolio focused on renewable energy and off‑grid solutions.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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