Voice and IP provider Liquid Telecom has secured US$150mn fund from banking company Standard Chartered for its fibre network expansions in Africa
Nic Rudnick, CEO of Liquid Telecom, said, “We believe in the power of connectivity to transform lives and our goal is to connect as many people in Africa as possible.”
The investment would be used to extend the company’s fibre network into additional countries as part of a continuous expansion strategy, added Rudnick.
“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.”
The fund 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, revealed the CEO.
Liquid Telecom’s FTTH network is geared towards the company’s goal to provide more than 100,000 households with a fibre network.
Liquid Telecom provides fibre optic, satellite and international carrier services to African mobile operators and Internet services providers. The company’s terrestrial fibre network spans more than 18,000 km through Botswana, DR Congo, Lesotho, Kenya, Rwanda, South Africa, Uganda, Zambia and Zimbabwe.