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(Ecofin Agency) – Link Africa wants to connect over 10 million South African homes and businesses by 2025. To achieve this goal, the company needs to strengthen its fiber optic infrastructure.
South African independent fiber optic network operator Link Africa announced on Tuesday, June 20 that it had raised ZAR500 million ($27.1 million) from Prescient, Absa Group, and Paragon Debt Advisory. This financing should enable the company to accelerate the expansion of its network in South Africa, focusing on cities where there is a growing demand for high-speed Internet connectivity and digital services.
This initiative is part of Link Africa’s commitment to pursuing its growth strategy in the South African fiber optic network market, focusing on the fiber-to-the-tower (FTTT) and fiber-to-the-business (FTTB) segments. In April 2021, the company sold its fiber-to-the-home (FTTH) network in Gauteng and KwaZulu-Natal provinces to open-access fiber network provider MetroFibre. Then in September 2021, it again its FTTH network in the Western Cape to Frogfoot.
By focusing on the fiber-to-the-tower and fiber-to-the-business segments, Link Africa aims to capitalize on the growing business demand for high-speed Internet connectivity and digital services amid accelerating digital transformation. In addition, the company wants to provide Internet service providers and telecom operators with the additional capacity they need to accelerate the coverage of their services in the rainbow nation.
“We are delighted to have secured this significant funding from our new investors who share our vision of bridging the digital divide in Africa through innovative and affordable fiber solutions. This funding will enable us to scale up our operations and reach more customers across the country while creating jobs and supporting local communities,” said Imran Abbas (photo, right), CEO of Link Africa. The company’s ambition is to connect over 10 million South African homes and businesses by 2025.
Isaac K. Kassouwi
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