Published on : Feb 17, 2015
Liquid Telecom has commenced its run to build international standard broadband facilities around Africa. The company sorts to build broadband infrastructure for parts of the continent that would provide better facilities than what is available in the United Kingdom. Liquid Telecom has already raised US$150 million worth investments that it would capitalize on to deploy fiber networks of broadband in across Africa.
African telecoms giant Econet Wireless is the parent company of the group, with their head office located in London. Liquid Telecom has notified that the additional funds raised will be used to build fiber networks of broadband in different countries of the continent.
Nic Rudnick, Chief Executive Officer, Liquid Telecom mentioned that the fiber to the home offered by the company is way better than their counterparts which are laid across in several regions of the UK including London. He also added that the group has taken up the objective of adding at least 100,000 homes to the network before the year comes to an end. The broadband network is slated to offer a speed of 100 mbps, while average internet speed available in UK is about 20 mbps only.
Standard Chartered has associated with the company to structure, underwrite, and syndicate the $150 million facility to a small conglomerate of small scale banks that also includes names such as Investec and Barclays.
As told by Tony Worthington, Head, Standard Charter Telecoms Division, the facility already is oversubscribed, which entails that there are possibilities of upsizing the infrastructure in the future.
According to Mr. Rudnick, Liquid Telecoms has plans to venture into three other countries by this year itself. The company has already successfully built an 18,000km long network of broadband across 15 countries of the continent which includes countries such as South Africa, Democratic Republic of Congo, and Rwanda.