An Actis-led consortium has acquired a 100 percent stake in Swiftnet, a telecom tower portfolio in South Africa, from Telkom for an enterprise value of $370 million.
The consortium, which includes international and local investors such as the Mineworkers Investment Co. (MIC), a black-owned, broad-based South African investment holding company, now owns 70 percent of Swiftnet, partnering with Royal Bafokeng Holdings as the 30 percent shareholder.
Swiftnet has more than 4,000 telecom tower sites across South Africa. The platform will retain strong relationships with Telkom and other current anchor tenants as it aims to become a leading tower company in the country, expanding coverage in rural areas and increasing access to the internet while driving the transitions from 3G and 4G technology to 5G.
“It’s terrific to have completed the acquisition of Swiftnet, which we aim to establish as the leading independent tower company in South Africa,” said David Cooke
