Liquid Telecom secures $150m funding for Africa-wide fiber network expansion

Independent data, voice and IP provider Liquid Telecom Group has announced it has secured additional funding totalling US$150-million to finance the expansion of its fiber network to more locations in Africa. The fund was facilitated by Standard Chartered and provided by large global investment banks.

Over a period of about five years, the company says it built what it calls the largest independent cross-border fiber network in Africa — which spans more than 18 000km and connects a total of 15 countries in East and Central Africa. The additional fund, Liquid Telecom says, will be spent on the extension of the fiber network into additional countries in line with the group’s continuous expansion strategy.

Read more: How is the internet improving people’s lives in Africa? [T4A]

The CEO of the company, Nic Rudnick, said: “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.”

The fund will also be utilised in financing the Fibre To The Home (FTTH) builds currently underway in Kenya, Rwanda, Zambia and Zimbabwe. Under this initiative, FTTH will provide homes and businesses with unlimited data packages and 100Mbps, this would be the fastest broadband ever available in Africa.

Presently, Liquid Telecom’s independent cross-border fiber network connects countries that have some of Africa’s rapidly growing economies that previously lacked access to fixed network prior to connecting to the fiber optic network via the subsea cables. It includes fibre rings around a multitude of towns and cities and The East Africa Fibre Ring, the first fully redundant regional fibre ring in East Africa.

Liquid Telecom is providing services for wholesale carriers, mobile network operators, internet service providers, financial institutions and businesses, including homes. The company is also operating retail businesses in Kenya, Rwanda, Uganda and Zimbabwe.