Actis, a global investor in sustainable infrastructure, together with Royal Bafokeng Holdings as its empowerment partner, has entered into an agreement to acquire a 100 percent stake in Swiftnet, a leading telecom-tower portfolio in South Africa, from Telkom for an Enterprise Value of ZAR6.75 billion ($360 million).
Swiftnet represents a strategic acquisition for Actis which will see it acquire more than 4,000 sites across the country. The platform is underpinned by a strong relationship with Telkom and other existing anchor tenants, and long-term contractual revenue. The deal allows Actis to invest in a growing sector, with strong secular tailwinds and an increasing need for tower densification driven by increasing internet penetration and the transitions from 3G and 4G to 5G.
Actis’ strategy is to create a leading independent Towerco, and further deepen its relationship with South Africa’s mobile operators. Swiftnet has a unique tower footprint across the country