Approximately 300 operational towers provide a foundation for scaling contracted rural connectivity infrastructure across eight African countries while creating long-term recurring revenue opportunities.<\/p>\n
Quebec, QC, Canada \u2013 November 12, 2026<\/strong> \u2013 NuRAN Wireless Inc. (Nasdaq: NUR;<\/a> FSE: 1RN<\/a>) (\u201cNuRAN<\/strong>\u201d or the \u201cCompany<\/strong>\u201d), a leading provider of rural connectivity infrastructure in Africa, today outlined the economics and growth potential of its Network-as-a-Service (\u201cNaaS\u201d) business model<\/strong>, following the Company\u2019s recently announced Board-approved strategic growth plan.<\/p>\n NuRAN has agreements with major mobile network operators (\u201cMNOs\u201d), including Orange and MTN, covering 5,092 contracted towers across eight African countries, with approximately 300 towers currently operational. The Company’s strategy is focused on expanding its revenue-generating infrastructure while improving the performance of its existing network.<\/strong><\/p>\n <\/p>\n Expanding telecommunications networks into rural Africa presents significant economic challenges. Lower population density, limited access to electricity and ongoing maintenance requirements can make traditional network deployments financially difficult for mobile operators.<\/p>\n Under its build-own-operate NaaS model, NuRAN finances, deploys, owns, operates and maintains mobile network infrastructure, allowing MNO partners to expand rural coverage without directly financing the full upfront infrastructure investment.<\/strong><\/p>\n Unlike traditional equipment sales, which generate primarily one-time revenue, the NaaS model is designed to generate recurring revenue through long-term commercial agreements.<\/strong> By combining low-power telecommunications technology, renewable-energy-enabled infrastructure and local operational capabilities, NuRAN aims to make rural network expansion more economically sustainable.<\/p>\n <\/p>\n As previously reported, NuRAN’s network-generated revenue increased 126.44% over the preceding 12-month period, with average monthly revenue of US$1,356 per operational tower. Several towers generate over US$2,500 in monthly revenue with more than 2,000 active users, illustrating the potential of the business model. Over the past 18 months, NuRAN has invested in additional 2G capacity to meet growing demand, upgrading 57 towers in Cameroon with Orange.<\/p>\n The Company has also reported tower-level gross margins exceeding 75%, after deducting satellite bandwidth, site lease, insurance and maintenance costs, demonstrating the potential operating economics of its existing infrastructure.<\/strong><\/p>\n These historical metrics reflect the performance of the existing network and should not be interpreted as guaranteed results for future deployments.<\/strong><\/p>\n To further enhance returns on its installed base, the Company is conducting 4G pilots using terrestrial transmission, which have shown incremental revenue growth of up to 40% on the selected towers. NuRAN plans to add 4G to the vast majority of its towers in Cameroon, and all new towers in Ivory Coast and, upcoming, Benin will be deployed with both 2G and 4G, a strategy intended to increase revenue per tower and support long-term shareholder value creation.<\/p>\n The first growth driver is deploying and activating additional towers from the contracted portfolio. The second is increasing network usage at operating towers, where contractual terms permit additional revenue as subscriber activity grows.<\/p>\n <\/p>\n NuRAN’s growth strategy is built around two complementary opportunities: expanding its operational network and increasing revenue from existing infrastructure.<\/strong><\/p>\n With approximately 300 of its 5,092 contracted towers currently operational, the Company has a significant remaining deployment pipeline. Each additional activated tower has the potential to contribute to recurring revenue, while increased subscriber activity at existing towers may generate additional revenue where supported by commercial agreements.<\/p>\n The Company’s priority is to progressively convert its contracted portfolio into operational infrastructure while maintaining disciplined capital allocation and improving network utilization.<\/strong><\/p>\n Future deployments remain subject to available financing, site economics, regulatory and contractual requirements, local execution capacity and other operating conditions.<\/p>\n \u201cOur NaaS model is designed to make rural connectivity economically sustainable while building a scalable infrastructure business. Our focus is on disciplined execution, expanding our operational network and maximizing the performance of our existing towers to support long-term growth,<\/strong>\u201d said Francis L\u00e9tourneau, CEO of NuRAN Wireless.<\/p>\n <\/p>\n About NuRAN Wireless<\/strong><\/p>\n NuRAN Wireless Inc. (Nasdaq: NUR<\/a>; FSE: 1RN<\/a>) is a rural telecommunications infrastructure company connecting remote and underserved communities across Africa. Through its Network-as-a-Service model, NuRAN finances, builds, owns, operates and maintains 2G, 3G and 4G mobile network infrastructure for mobile network operators seeking to expand coverage outside urban markets.<\/p>\n NuRAN has 5,092 contracted towers, of which approximately 300 towers are operational. The Company combines telecommunications engineering, low-power wireless technology, renewable-energy-enabled infrastructure, site selection and field operations to address the economic and technical challenges of rural mobile coverage.<\/p>\n NuRAN is also building on this foundation through NuEnergy, its wholly owned subsidiary focused on owning and operating the Company\u2019s solar, storage and hybrid power systems across its African footprint.<\/p>\nKEY HIGHLIGHTS<\/strong><\/h4>\n
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Making Rural Connectivity Economically Viable<\/strong><\/h4>\n
The Economics of Recurring Revenue<\/strong><\/h4>\n
Scaling Through Contracted Deployments and Network Utilization<\/strong><\/h4>\n