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Millicom putting $700m into Central America

June 13, 2022

Luxembourg-registered (but mostly Swedish-owned) Millicom has decided to invest $700 million (€671) into broadband and cellular projects in Honduras, Guatemala and El Salvador.

Millicom has won the support of US Vice-President Kamala Harris which has endorsed other projects and which has seen $1.9 billion pledged as investments, which includes Millicom’s commitment.

The White House in its statement says the cash will bring high-speed internet over the next five years “by expanding and operating a highly reliable rural broadband network over existing high-power electricity lines. This work will allow equal access to a digital ecosystem in rural areas, enabling online education, financial inclusion, and e-services.”

Millicom is backed by AB Kinnevik and Millicom Inc., and already has significant investments in central and south America. Millicom operates in nine Latin American markets, including Bolivia, Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Paraguay.

It operates the Tigo, Tigo Business and Tigo ONEtv services and brands.

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