Africa’s largest independent fibre optic and cloud computing provider Liquid Telecom has received a Ksh 18.4 billion capital injection from the UK government’s overseas development arm CDC Group Plc.
The investment will enable Liquid Telecom to expand its high-speed broadband connectivity across the African continent, including supporting Africa’s thriving tech start-up eco-system with high-speed internet and cloud-based services.
CDC’s investment will also enable Liquid Telecom to increase its network expansion to reach more countries in the continent, helping to connect more people and businesses.
Liquid Telecom recently invested in a terrestrial fibre link that runs from Cape Town in South Africa to Cairo in Egypt.
The broadband network referred to as “the One Africa” took ten years to complete and serves some of the most remote locations with the fastest network speeds in Africa.
“We welcome the investment since it will enable us to accelerate expansion along our Cape-to-Cairo route and further into Central and Western Africa.,” said Nic Rudnick, Group CEO, Liquid Telecom.
CDC group CEO Nick O’Donohoe hailed the agreement saying it will bring significant economic and social benefits in Africa.
“Our investment in Liquid Telecom is one of our biggest. It plays an important part in addressing infrastructure bottlenecks and helps bring about the innovation and efficiency gains that result from better internet access,” said Mr. O’Donohoe.
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