Actis has agreed to pay ZAR 2.3 billion ($139 million) to acquire a controlling interest in Octotel, a fiber network operator in South Africa.
Octotel provides line rental services to internet service providers on a fully vendor-neutral basis, allowing high-speed data connectivity in homes and businesses across the region, according to Actis. The open access fiber network has serviced more than 175,000 homes since the company’s 2016 inception.
In addition, Actis has signed agreements to acquire a non-controlling interest in RSAWEB, a major internet service provider in South Africa. Both of the transactions are subject to regulatory approval.
“The investment opportunity is driven by the demand for reliable, high-quality, high-speed digital access in the home,” said David Cooke, Actis partner based in Johannesburg. “We see first-hand the impact that affordable connectivity has in communities in South Africa for work, entertainment and education.”
