Liquid secures $180m investment
Liquid Telecom has obtained a $180-million investment from UK development finance institution CDC Group to expand its high-speed broadband connectivity and Internet and cloud-based services into underserved communities and the technology start-up ecosystem across Africa.
The investment will assist Liquid in building on its “Cape to Cairo” terrestrial fibre link that took a decade to deploy.
The “One Africa” broadband network extends from Cape Town, in South Africa, through all the Southern, Central and Eastern African countries, and has now reached Sudan and Egypt.
“We welcome CDC’s investment of $180-million . . . since it will enable us to accelerate expansion along our award-winning Cape to Cairo route and further into Central and Western Africa,” said Liquid CEO Nic Rudnick.
“Our investment in Liquid – 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,” added CDC CEO Nick O’Donohoe.
“CDC’s capital will enable Liquid to reach more countries on the continent, helping to connect millions more people and businesses. Africans have benefited hugely from the local mobile phone industry that CDC backed 20 years ago and we have similar hopes for our investments in Africa’s growing digital infrastructure.”
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