Akanda Corp. (NASDAQ: AKAN) and its wholly‑owned subsidiary First Towers & Fiber Corp. announced an expansion of its 700‑kilometre dark fiber optic network in central Mexico, the largest of its kind in the region. The expansion will begin in 2026 and is designed to increase capacity and attract additional tenants, thereby boosting recurring revenue with limited incremental capital investment.
The network is already under a 20‑year lease with Telefónica and is also leased to Marcatel. The move is part of Akanda’s strategic pivot away from its legacy cannabis business toward telecommunications infrastructure, a shift that has been underway since the company acquired First Towers & Fiber in August 2025.
Akanda projects that demand for high‑capacity fiber in Mexico will grow at a 10.8% CAGR through 2030, driven by 4G/5G roll‑outs and government initiatives to expand connectivity. The expansion will position the company to serve Mexico’s rapidly growing industrial corridors and state economies, potentially improving its financial outlook.
Akanda has reported revenue growth in recent years but continues to post losses, and the company raised $7 million in convertible debt in January 2026 to support its operations. The expansion is expected to generate stable, long‑term cash flows, but the company’s overall financial health remains a concern for investors.
The announcement underscores Akanda’s focus on building a recurring‑revenue business model in a high‑growth market, while its cannabis operations have been a source of volatility. The expansion is a material operational milestone that could reshape Akanda’s revenue mix and provide a more predictable income stream.
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