The SA Housing and Infrastructure Fund, the largest black private investor in South Africa’s optical fiber industry, through one of its subsidiary, has secured $38 million (R700 million) funding to recapitalise its business by settling the fund’s existing facilities with African Infrastructure Investment Managers and Old Mutual Hybrids Equity.
According to the statement, the company said to accelerate the expansion of high-speed internet access throughout the country, it has also embarked on an international capital raising drive, according to Businessday.
SAHIF CEO, Rali Mampeule said the company aimed to obtain up to $225 million (R4.1 billion) in investments from both local and international sources, which includes pension funds, development finance institutions, and limited partners.
He said “This successful capital raise has provided SAHIF with a robust investment platform to fast-track ongoing high-speed fiber internet access projects, particularly through its investments in MFN as an independent institutional shareholder not funded by its co-shareholder anymore.
“We want this initiative to pave the way for equitable access to high-speed internet, drive economic growth, and nurture innovation within previously underserved communities.”
SAHIF, together with Old Mutual’s AIIM and STOA, a foreign investment vehicle that is based in France, in June 2021, acquired the 25.8 per cent interest in MetroFibre Networx held by Sanlam Private Equity, African Rainbow Capital, and a minority shareholder, the transaction made the three entities to be the 80 per cent majority shareholders of MFN.
Mampeule highlighted the importance of this capital infusion, noting, “We started knocking on doors in Davos, Switzerland, earlier this year, and we are currently in talks with several local and international pension funds, DFIs, and LPs.
“These engagements have been very fruitful, and we believe the capital secured will create a valuable investment platform from which SAHIF will scale its current investments.”
In addition, he said that the SAHIF capital injection would speed up the delivery of affordable housing and facilitate strategic investment in the financial services sector, given its focus on digital infrastructure.SAHIF secures $38 million recapitalisation to boost expansion
The SA Housing and Infrastructure Fund, the largest black private investor in South Africa’s optical fibre industry, through one of its subsidiaries has secured $38 million (R700 million) funding to recapitalise its business by settling the fund’s existing facilities with African Infrastructure Investment Managers and Old Mutual Hybrids Equity.
According to the statement, the company said to accelerate the expansion of high speed internet access throughout the country, it has also embarked on an international capital raising drive, according to Businessday.
SAHIF CEO, Rali Mampeule said the company aimed to obtain up to $225 million (R4.1 billion) in investments from both local and international sources, which includes pension funds, development finance institutions, and limited partners.
He said “This successful capital raise has provided SAHIF with a robust investment platform to fast-track ongoing high-speed fibre internet access projects, particularly through its investments in MFN as an independent institutional shareholder not funded by its co- shareholder anymore.
“We want this initiative to pave the way for equitable access to high-speed internet, drive economic growth, and nurture innovation within previously underserved communities.”
SAHIF, together with Old Mutual’s AIIM and STOA, a foreign investment vehicle that is based in France, in June 2021, acquired the 25.8 per cent interest in MetroFibre Networx held by Sanlam Private Equity, African Rainbow Capital and a minority shareholder, the transaction made the three entities to be the 80 per cent majority shareholders of MFN.
Mampeule highlighted the importance of this capital infusion, noting, “We started knocking on doors in Davos, Switzerland, earlier this year, and we are currently in talks with several local and international pension funds, DFIs, and LPs.
“These engagements have been very fruitful, and we believe the capital secured will create a valuable investment platform from which SAHIF will scale its current investments.”
In addition, he said that the SAHIF capital injection would speed up delivery of affordable housing and facilitate strategic investment in the financial services sector, given its focus on digital infrastructure.
