TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      E.tv in stunning victory over minister in digital TV fight

      28 June 2022

      It’s official: stage-6 load shedding is here

      28 June 2022

      Stage-6 load shedding highly likely later today

      28 June 2022

      Prosus sale plan sends Chinese tech stocks tumbling

      28 June 2022

      Takealot is ready for the Amazon onslaught: Bob van Dijk

      27 June 2022
    • World

      Ether holds its breath for the Merge

      28 June 2022

      Google Cloud customers will learn their Gmail carbon footprint

      28 June 2022

      The lights are going out for crypto’s laser-eyed grifters

      28 June 2022

      Crypto retakes $1-trillion

      27 June 2022

      Tencent slides on Prosus sale plan

      27 June 2022
    • In-depth

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022

      Sheryl Sandberg’s ad empire leaves a complicated legacy

      2 June 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Vumatel earmarks R3bn for FTTH

    Vumatel earmarks R3bn for FTTH

    News By Staff Reporter19 April 2016
    Facebook Twitter LinkedIn WhatsApp Telegram Email
    Vumatel CEO Niel Schoeman
    Vumatel CEO Niel Schoeman

    The fight over who controls home broadband in South Africa is getting a lot more serious.

    South African fibre-to-the-home (FTTH) pioneer Vumatel announced on Tuesday that it has reached a “significant finance deal” with Standard Bank and now plans to spend R3bn over the next two years dramatically stepping up its home broadband footprint.

    The Standard Bank investment will provide the company with the resources it needs to speed up the delivery of fibre broadband and expand into new markets, it said.

    Vantage Capital will provide mezzanine financing.

    Though neither Vumatel nor Standard Bank is saying exactly how much money is involved, they have described it as “one of the largest debt capital-raisings of its kind in the FTTH industry to date”.

    Vumatel CEO Niel Schoeman said in a statement: “It is important that South Africa keeps pace with the rest of the world. We need to ensure that we invest in long-term sustainable infrastructure that can support the growth in demand for high-speed connectivity. That is why we plan to invest R3bn over the next two years in fibre-optic networks to service the residential sector.”

    The deal with Standard Bank, with an agreed drawdown facility, will facilitate the exponential growth of Vumatel, the company said.

    Since it first deployed fibre broadband in Parkhurst in Johannesburg 18 months ago — at a cost of R30m — Vumatel has expanded to a range of suburbs in both Gauteng and Cape Town.

    It now appears that it sees an opportunity to take the fight with incumbent fixed-line operator Telkom — which has also promised to step up its FTTH roll-out plans in the coming years — to an entirely new level.

    Standard Bank will become the lead financier of Vumatel’s bid to expand its business “exponentially”, the operator said.

    The deal was structured through Standard Bank’s business acquisition team, which concentrates on debt-focused financing for top-line commercial clients.  — © 2016 NewsCentral Media

    Niel Schoeman Standard Bank Telkom Vumatel
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleBrace for July power price hikes
    Next Article Bid to have Aarto fines set aside

    Related Posts

    E.tv in stunning victory over minister in digital TV fight

    28 June 2022

    It’s official: stage-6 load shedding is here

    28 June 2022

    Stage-6 load shedding highly likely later today

    28 June 2022
    Add A Comment

    Comments are closed.

    Promoted

    How your business can help hybrid workers effectively

    28 June 2022

    Hands off our satellite spectrum!

    27 June 2022

    Watch | Telviva One: adapting to the requirements of business

    24 June 2022
    Opinion

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.