Actis acquires $140million stake in Octotel

Private Equity firm Actis is acquiring ZAR2.3 billion ($140 million) controlling stake in South African fibre network operator, Octotel.

Actis has also agreed to acquire a non-controlling interest in RSAWEB, a leading Internet Service Provider in South Africa.

Octotel is Cape Town’s largest Open Access Network focused on both Fibre To The Home (FTTH) and Business (FTTB). Founded in 2016 by Rob Gilmour and Mark Slingsby, Octotel provides seamless fibre connectivity to over 175,000 homes and businesses in Cape Town. Octotel work in partnership with communities to offer affordable and reliable internet to homes, and help to support exciting and fast-growing businesses

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Rob and Mark will remain as shareholders while Caxton and CTP Publishers and Printers Limited and the Pembani Remgro Infrastructure Fund will fully exit their respective positions at both companies.

“Octotel and RSAWEB are the latest Actis investments into the high growth Digital Infrastructure sector. We have a growing portfolio of data centre investments and are delighted to now be making our first investment in the fibre sector,” said David Cooke Actis partner based in Johannesburg.

“Rob and Mark are industry pioneers in South Africa and together with their institutional backers have created highly successful businesses in Octotel and RSAWEB. The investment opportunity is driven by the demand for reliable, high quality, high speed digital access in the home.  We see first-hand the impact that affordable connectivity has in communities in South Africa for work, entertainment and education.”