UK government fund CDC commits USD 40 mln to Liquid Telecom rights issue

News Broadband Africa 26 OKT 2020
UK government fund CDC commits USD 40 mln to Liquid Telecom rights issue

The UK government sovereign wealth fund for developing countries, Commonwealth Development Corporation (CDC), has announced another USD 40 million equity investment in Liquid Telecom. This is CDC's second investment in the company, following a USD 180 million one in 2018. The CDC investment is part of Liquid Telecom's wider USD 307 million fundraising through a rights issue to shareholders.

The investment will support Liquid Telecom’s plan to expand Africa Data Centres. Currently, it is estimated that less than 20 percent of potential telecommunications enterprise demand is being served in Africa, with London having three times more cloud computing power available than the entire continent. Liquid Telecom’s development of data centres will boost economic activity by reducing IT related costs for companies. Increased local capacity will also spur innovation by offering affordable data storage and Software-as-a-Service (Saas) applications  to SMEs. 

 

Categories:

Fixed

Companies:

Liquid Telecom

Regions:

Africa

Tags:

Internet Access, Enterprise, Financial funding, M&A buyouts & divestments

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