Actis, a global investor in sustainable infrastructure, is to sell South African fibre network operator Octotel to a consortium of investors, led by African Infrastructure Investment Managers (AIIM) and also comprising STOA and Thebe Investment Corporation.
Actis invested in Octotel, a leading fibre network operator in the Western Cape of South Africa, in 2020 to capitalise on the growing demand for high-speed connectivity and the rapid rise in data consumption in the country. The firm’s investment strategy focused on expanding the number of homes passed with a fibre line and driving the take-up rate on the network.
This resulted in significant growth for the platform, with the number of homes passed with fibre rising from 195,000 at investment to 350,000 today, and the number of customers connected increasing from 56,000 to 110,000 over the same time period.
Under the ownership of Actis, Octotel also achieved significant sustainability milestones to drive positive environmental as well as social impact. These include providing free 1GB internet connections to more than 150 schools in the Western Cape, converting its fleet of vehicles to LPG hybrid vehicles to decarbonise transportation, and securing one of the first social loans in South Africa in recognition of the company’s work to promote digital inclusion.
The transaction is subject to regulatory approvals and closing conditions.
