Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Investment

CDC Group Pumps $180M into Liquid Telecom

Article Image
PRESS RELEASE -- Leading pan-African telecoms group Liquid Telecom has reached an agreement with CDC Group Plc, the UK’s development finance institution, to invest $180m with the company. This investment will enable Liquid Telecom to expand its high-speed broadband connectivity to some of the most underserved communities across the African continent, including supporting Africa’s thriving tech start-up ecosystem with high-speed internet and cloud-based services.

Owned and managed by the UK Government, CDC Group supports companies that help poor countries grow. Being aligned to a common purpose, the $180m investment will enable Liquid Telecom to increase its network expansion. This builds on the Liquid Telecom’s award-winning Cape to Cairo terrestrial fibre link - often referred to as “the One Africa” broadband network that took ten years to complete and serves some of the most remote locations with the fastest network speeds in Africa - from Cape Town, through all the Southern, Central, and Eastern African countries, and has now reached Sudan and Egypt. The network passes through some of the most remote corners of the planet and continues to provide new opportunities to connect underserved communities.

“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. “We welcome CDC Group’s investment of $180m with Liquid Telecom since it will enable us to accelerate expansion along our award-winning 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. This is aligned to the vision of our Executive Chairman Strive Masiyiwa to not only connect Africa from North to South, but also from East to West.”

“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 in Liquid Telecom – which is one of CDC’s biggest ever investments - plays an important part in addressing infrastructure bottlenecks and helps bring about the innovation and efficiency gains that result from better internet access,” said Nick O’Donohoe, CEO, CDC Group Plc. “CDC’s capital will enable Liquid Telecom to reach more countries in the continent, helping to connect millions more people and businesses. Africans have benefited hugely from the local mobile phone industry that CDC backed twenty years ago and we have similar hopes for our investments in Africa’s growing digital infrastructure.”

ENDS

Innovation hub

Story

Orange Ventures, Digital Africa promise more funding for startups

Orange Ventures and Digital Africa are teaming up to invest more in tech startups in Africa and the Middle East through Digital Africa's Fuzé program and the Orange Digital Center network.

Story

Hot startup of the month: Rwanda's Ampersand

Connecting Africa's hot startup this month is Rwanda's Ampersand, which designs, builds, and manufactures electric motorcycles and battery packs for motorcycle taxis.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: April 2024

By Omdia Analysts

April 2024's telecoms highlights in the Middle East and Africa included a license for Starlink in Ghana, new mobile termination rates in Ethiopia, and 6G trials in Bahrain – that and more in the latest Omdia View.

Story

Leveraging agritech to build resilience against climate change

By Francis Hook

ICT analyst Francis Hook discusses agritech in Africa and how the agricultural sector is using technology to build resilience against the negative effects of climate change and to ensure food security.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002