A consortium led by Old Mutual’s African Infrastructure Investment Managers (AIIM), an infrastructure-focused private equity fund manager, has signed a deal to acquire Western Cape fibre network operator Octotel.
The consortium is acquiring Octotel from Actis, which is itself leading a consortium (its stake is 70%) with Royal Bafokeng Holdings (30%) that’s buying Telkom’s masts and towers business, Swiftnet.
The consortium led by AIIM, which also includes Thebe Investment Corporation, intends acquiring a minority stake in Cape Town-based internet service provider RSAWeb, pending regulatory approval, AIIM said in a statement published on its website on Monday.
Octotel, which was founded in 2016, is a major player in the home and business fibre market in the Western Cape.
“Octotel has proved to be an excellent investment for Actis. Together with the exceptional management team, we have been able to scale the platform and generate significant returns for our investors while driving positive social impact. The sale of Octotel adds to the strong track record Actis has in digital infrastructure,” said Actis digital infrastructure partner David Cooke in the statement.
The company’s open-access fibre network passes about 350 000 homes and has roughly 110 000 homes and businesses on its books, up from 195 000 and 56 000, respectively, when Actis acquired the business in 2020. – © 2024 NewsCentral Media