Liquid Telecom has revealed that it has raised USD$150 million which will fund the expansion of its fibre network in Africa. According to the telecoms infrastructure company, it secured the funds through a loan facilitated by Standard Chartered Bank and provided for by large global investment banks.
Liquid Telecom currently has a fibre network that now spans over 18,000 km and passes through 15 countries. The funds are meant to expand that reach to other parts of the continent and it will also finance ongoing Fibre To The Home (FTTH) builds in Kenya, Rwanda, Zambia and Zimbabwe which will services to homes and businesses with speeds of up to 100Mbps.
Nic Rudnick, CEO of the Liquid Telecom Group, stated that: “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.”
