SOUTH AFRICA – Emerging markets investment firm Actis has agreed to buy a controlling stake in Cape Town-based fibre broadband network operator Octotel.
According to a statement from Actis, the deal attaches a US$140 million enterprise value to Octotel. Similarly, Actis will buy a non-controlling interest in internet service provider RSAWeb. Both transactions are subject to regulatory approval.
Read also: A New Narrative Around African Entrepreneurism [Opinion]
Octotel was founded in 2016 and its fibre network today passes about 175,000 homes and businesses.
“We have a growing portfolio of data centre investments and are delighted to now be making our first investment in the fibre sector”
Octotel and RSAWeb were both founded by internet entrepreneurs Rob Gilmour and Mark Slingsby and both will remain as shareholders and continue to lead the existing management teams.
Caxton and CTP Publishers and Printers and the Pembani Remgro Infrastructure Fund will fully exit their respective positions in the two entities, Actis added in the statement.
David Cooke, Actis partner based in Johannesburg, said: “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”.
“Rob and Mark are industry pioneers in South Africa and together with their institutional backers have created highly successful businesses in Octotel and RSAWeb,” Cooke added.
Actis is a global emerging markets investment firm focused on the private equity, energy, infrastructure, and real estate asset classes.
It has a growing portfolio of investments across Asia, Africa and Latin America and US$12 billion in assets under management.
Founded in 2004, it is working across 17 offices globally.
Read full article here
GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges
GFA Attract, GFA Weekly Recap & Application Portal For Funding
GFA Weekly Round- up Podcast
In this week’s weekly round up podcast, Nichole discussed about the funding activity between September 28- October 2
Listen Here
GFA Attract Interview
Victor Boyle-Komolafe, the co-founder of Garbage In, Value Out (GIVO), a system that automates and digitises the collection, processing, and sale of recyclable materials. Watch Here
Apply For Funding
GetFundedAfrica provides equity capital from $1,000 to $50,000.
For larger amounts (Above $50,000)
we organize syndicated funding rounds of up to $500,000.
Apply Here
Follow Us
“Entrepreneurs have to learn the power of networking and the value of mentorship, as these are the things that most entrepreneurs take for granted. And also they must know that opportunities will not come to them; they have to go out there and create them by knocking on corporate doors with proposals. Personally, I am where I am because of a business mentor who changed the way I see things.”
– Anda Maqanda, founder of AM Group in South Africa