Africa's independent data, voice and IP provider, Liquid Telecom, has secured $150 million to fund its fibre network expansions on the continent.
On Monday the company stated that the loan for $150 million was facilitated by Standard Chartered and provided by large global investment banks.
Liquid provides fibre optic, satellite and international carrier services to African mobile operators and internet services providers.
And its terrestrial fibre network spans more than 18,000 km through Botswana, DRC, Lesotho, Kenya, Rwanda, South Africa, Uganda, Zambia and Zimbabwe.
According to Liquid the investment would be used to extend the Company's fibre network into additional countries as part of a continuous expansion strategy.
It will also finance ongoing Fibre To The Home (FTTH) builds in Kenya, Rwanda, Zambia and Zimbabwe, which will provide homes and businesses with unlimited data packages and 100Mbps, said Liquid.
Liquid's FTTH network is geared towards the company's goal to provide more than a 100,000 households with a fibre network.
Chief executive officer of the Liquid Telecom Group, Nic Rudnick said, "We believe in the power of connectivity to transform lives and our goal is to connect as many people in Africa as possible."
"Our fibre networks provide capacity for high-speed fixed and mobile broadband networks, enabling Africans to access digital content, apps and OTT services. This funding will help us in our mission of building Africa's digital future," he added.
Share