Nine African countries will be united by the continent’s largest single fibre network following a new acquisition. Voice & IP provider Liquid Telecom is purchasing the East African telecom assets of the Altech Group, creating a network that will span Kenya, Uganda, Rwanda, Zambia, Zimbabwe, Botswana, DRC, Lesotho and South Africa.
The network will provide reliable, high-speed, cost-effective connectivity to carriers, ISPs, homes, financial institutions and businesses of all sizes. It is the first fibre network in Africa to cross country borders, and covers some of the most challenging parts of the world where no fixed network has existed before.
Nic Rudnick, CEO of Liquid Telecom, said: “Liquid has been building and investing in a high-quality pan-African fibre network for many years and this deal will accelerate our progress by enlarging our network footprint and complementing our existing product portfolio.”
Altech becomes a minority shareholder in The Liquid Telecom Group with an initial 8.6% equity stake with shareholder voting rights of 10%. Altech will also subscribe US$16.5 million in cash.
Liquid Telecom operates as a wholesale carrier in six countries as well as an operator in Zambia and Zimbabwe.
The deal has to be approved by regulators in the DRC, Kenya, Rwanda, Uganda and Zambia.