Liquid Telecom Generated US$150 million to Develop Broadband in Africa

Published Date : Feb 16, 2015

The telecoms group, Liquid Telecom, focusing at constructing superior broadband in parts of Africa than that is available in the United Kingdom, has generated US$150 million to spread its superfast fiber networks in the entire continent. The group is led by African telecoms organization Econet Wireless and has its head office based in London. It will use the extra funds to construct fiber broadband networks in various nations in the region.

The chief executive of Liquid Telecom, Mr. said Nic Rudnick stated that their fiber network to the home is superior to many parts of the United Kingdom and even to London. Mr. Nick Rudnick added that the group has targeted at connecting 100,000 homes by the end of 2015 with broadband, which could reach a speed of 100 mbps. On the contrary, the United Kingdom average is about 20 mbps.

A US$150 million unit for the enterprise has been structured, funded, and associated by Standard Chartered to a small group of banks consisting of Barclays and Investec. The head the telecom division of Standard Chartered, Mr. Tony Worthington, stated the unit was heavily over-subscribed that meant there was a probability of it being upsized at some point of time in the future.

Liquid Telecom is preparing to enter 3 more nations in 2015, added Mr. Rudnick. It has already constructed 18,000 km of fiber broadband network across fifteen countries in the eastern parts of the continent ranging from South Africa to the Democratic Republic of Congo and Rwanda. Liquid Telecom deploys long-haul fiber between nations, as well as rings of cables across the bigger cities that are utilized to provide a better standard of internet access.