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Standard Bank supports digital inclusion with a R5-billion injection

01 Aug 2022

Country
South Africa
Year
2022
Sector
Telecoms Media and Technology
Business Unit
Corporate and Investment Banking
Specific Role
Mandated lead arranger

The Standard Bank Group is proud to announce it has successfully finalised a R5-billion debt finance package for MetroFibre Networx to support its continued fibreoptic data network rollout across South Africa.   

MetroFibre Networx is a diversified network operator, a Carrier-class Ethernet (CE 3.0) infrastructure company that today provides highly managed fibreoptic broadband connectivity in South Africa. The company’s open-access network currently passes over 350 000 homes in 6 provinces, and the aim is to reach an additional 500 000 residential homes across the country by 2025. 

Standard Bank decided to support leading fibre network companies, having noted that the industry is one of the top growth industries in the country. The R5-billion debt package for MetroFibre will be used to expand the company’s world-class fibre connectivity into homes and businesses in underserviced communities across South Africa.

This transaction will further MetroFibre’s ambitions to bridge the digital divide in South Africa and empower underserved communities by providing them with access to opportunities to participate in the globally connected economy.

Find out more about how  Standard Bank is committed to driving positive, sustainable and truly embedded technological growth across the continent and developing digital innovations that matter.