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21 Dec 2018

UK government invests $180m in Africa’s Liquid Telecom

Data Centre Afrika

Liquid Telecom has received a $180m investment from UK government investment firm CDC Group Plc, to enable the pan-African telco to expand its high-speed broadband connectivity to some of the most under-served communities across Africa. The investment will aid citizens and the start-up ecosystem with high-speed internet and cloud-based services.

CDC Group aims to support companies that help poor countries grow. The investment will help extend Liquid Telecom’s Cape to Cairo terrestrial fibre link, often referred to as the “One Africa” broadband network, that took ten years to complete.

“Our vision is to give every individual on the African continent the right to be connected by bringing reliable, high-speed broadband connectivity and cloud services to all. This includes businesses and communities in some of the most remote parts of the continent,” said Nic Rudnick, Group CEO, Liquid Telecom.

“CDC Group’s investment will enable us to accelerate expansion along our Cape to Cairo route and further into Central and Western Africa. Once completed, it will bring significant economic and social benefits – from providing access to online educational resources to supporting national economies, creating more jobs and driving the adoption of new technologies.”

Nick O’Donohoe, CEO of CDC Group, said: “Digital infrastructure is still a major problem for Africa’s governments, people and its businesses, so improving access to affordable and quality internet is central to Africa’s development and economic growth. Our investment, one of our biggest, plays an important part in addressing infrastructure bottlenecks and helps bring about the innovation and efficiency gains that result from better internet access.”

Around 20 years ago, CDC invested in the African mobile phone industry. Earlier this month, Liquid Telecom said it would be investing $400m in Egypt over the next three years, as part of a major partnership with Telecom Egypt that includes network infrastructure and data centres.

Source: https://data-economy.com/uk-government-invests-180m-in-africas-liquid-telecom/

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