Liquid Telecom, a Pan-African telecom company, has reached an agreement with CDC Group Plc, a UK development finance institution, to invest $180m with the company.
This investment will enable Liquid Telecom to expand its high-speed broadband connectivity to some of the most underserved communities across the African continent and support Africa’s thriving tech start-up ecosystem with high-speed internet and cloud-based services.
Owned and managed by the UK Government, CDC Group supports companies that help poor countries grow.
Being aligned to a common purpose, the $180m investment will enable Liquid Telecom to increase its network expansion.
This builds on the Liquid Telecom’s award-winning Cape to Cairo terrestrial fiber link – often referred to as “the One Africa” broadband network that took ten years to complete and serves some of the most remote locations with the fastest network speeds in Africa – from Cape Town, through all the Southern, Central, and Eastern African countries, and has now reached Sudan and Egypt.
The network passes through some of the most remote corners of the planet and continues to provide new opportunities to connect underserved communities.
“Our vision is to give every individual on the African continent the right to be connected by bringing reliable, high-speed broadband connectivity and cloud services to all. This includes businesses and communities in some of the most remote parts of the continent,” said Nic Rudnick, Group CEO, Liquid Telecom.
“Digital infrastructure is still a major problem for Africa’s governments, people and its businesses, so improving access to affordable and quality internet is central to Africa’s development and economic growth.
“Our investment in Liquid Telecom – which is one of CDC’s biggest ever investments – plays an important part in addressing infrastructure bottlenecks and helps bring about the innovation and efficiency gains that result from better internet access,” said Nick O’Donohoe, CEO, CDC Group Plc.