SOUTH AFRICA – African Infrastructure Investment Managers (AIIM) has completed a follow-on acquisition in MetroFibre Networx, following approval from the Independent Communications Authority of South Africa.
AIIM, alongside a consortium comprising South African Housing & Infrastructure Fund (SAHIF) and STOA, a foreign investment vehicle based in France, has acquired an additional 25.8% interest in MetroFibre, previously held by Sanlam Private Equity, African Rainbow Capital and a minority shareholder.
“The transaction secures AIIM’s investment vehicle Digital Infrastructure Investment Holdings as the single largest shareholder in MetroFibre at a time when the business is rapidly expanding its fibre footprint,” Thor Corry, AIIM Investment Director, said.
“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.
Over the last 10 years, MetroFibre has expanded its service offering to both residential and corporate customers, in line with its strategic objective of being a diversified operator.
MetroFibre owns and manages its core network, which is a globally compliant Carrier Ethernet 2.0 open access network.
“Over the past year, MetroFibre has accelerated its fibre rollout with over 350,000 homes passed as at April 31, 2022, and we are aiming to pass an additional 500,000 homes by 2025,” Jan-Jan Bezuidenhout, MetroFibre’s CEO, said.
“We continue to pursue innovative approaches to address South Africa’s connectivity shortfalls and are pioneering unique solutions that cater for customers with different needs. This includes a pay-as-you-go model for underserved areas and packages which suit those who only require intermittent use, removing the need to commit to lengthy contracts.
“This is particularly important for affordable housing estates and residential areas with high rental occupancy where customers want to avoid being tied into long-term contracts or don’t need an ‘always on’ service. We welcome the changes in the shareholder base and look forward to growing the business with their support.”