South African broadband connectivity provider MetroFibre wants to expand its footprint in the country to meet accelerating demand. In that regard, it opened 25% of its capital to investors.
African Infrastructure Investment Managers (AIIM) recently completed the acquisition of an additional 25.8% stake in South African broadband connectivity provider MetroFibre Networx. This transaction makes AIIM the majority shareholder in MetroFibre with 37% of the overall stake. In the release announcing the completion, AIIM informs that the additional stake was acquired “alongside a consortium comprising South African Housing & Infrastructure Fund (SAHIF) and STOA, a foreign investment vehicle based in France.” In 2020, the three partners had invested ZAR1.5 billion (US$92.3 million).
By becoming MetroFibre's majority shareholder, AIIM will provide the company with the capital necessary to achieve its growth ambitions. "MetroFibre has accelerated roll-out to a point where it is now one of the largest South African Fibre-To-The-Home players by homes passed, but there remains a long way to go to address connectivity shortfalls in the country," said Thor Corry, AIIM's investment director.
The deal, announced in June 2021, was completed after the approval of the Independent Communications Authority of South Africa (ICASA).
"We continue to pursue innovative approaches to address South Africa’s connectivity shortfalls and are pioneering unique solutions that cater to customers with different needs," added MetroFibre’s CEO, Jan-Jan Bezuidenhout (photo).
“MetroFibre has accelerated its fiber rollout with over 350,000 homes passed as of April 31, 2022, and we are aiming to pass an additional 500,000 homes by 2025,” he added.
Isaac K. Kassouwi
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Record drought tests Zambia's dependence on hydropower, impacting its vital mining industry • Adoption of dedicated solar projects, such as the recent...
• The African Development Bank (AfDB) has approved €25.5 million in funding to boost Mauritanian SMEs and stimulate inclusive growth.• Mauritania’s...
• Blue Gold, active in Ghana with the Bogoso project, looks to grow its portfolio by potentially acquiring gold projects in West Africa.• CEO Andrew...
• Bassirou Diomaye Faye denounces credit rating agencies’ methodologies as ill-suited to African contexts.• Senegal urges reforms to enable fairer...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...