The South African Housing and Infrastructure Fund (SAHIF), with Old Mutual’s African Infrastructure Investment Managers (AIIM) and STOA S.A., an investment vehicle that is based in France, acquired the 25.8% interest in MetroFibre Networx previously held by Sanlam Life Insurance, the ARC Fund (ARC) and a minority shareholder to increase their respective shareholding. Between the three entities, they currently own over 80% of MetroFibre.
The investment made entrepreneur Rali Mampeule the single biggest black private investor in optical fibre in South Africa.
Mampeule is chairman of the Mampeule Foundation, sits on the board of MFN, serves as the chairman of SMaCT Research Centre at The University of Johannesburg (UJ) and is a councillor at the Global Surgery Foundation Transition High-Level Council based in Geneva, Switzerland.
Recent reports about Africa’s largest asset manager, the Public Investment Corporation, backing a possible bid led by the former CEO of Telkom SA, Sipho Maseko, for a stake in Telkom points to a race to consolidate the telecoms and fibre optics industry. A Vodacom deal to buy Vumatel is awaiting Competition Commission approval any time from now.
Mampeule told The Star that, in a world where connectivity is no longer a luxury but a necessity, their investment came at a pivotal time when the demand for reliable, high-quality and affordable internet is soaring.
“As seen when South Africa navigated the challenges of the Covid-19 pandemic, the importance of efficient and reliable internet connectivity for work, education and entertainment purposes cannot be overemphasised.” he said
Sahif’s investment in MetroFibre Networx is said to have been aimed at also accelerating digital transformation for homes and businesses across South Africa. Sahif reported that its long-term strategy is to invest and diversify its digital and land infrastructure investment portfolio and raise as much as $225 million (R4.4 billion) to achieve that vision.
Mampeule affirmed that their mission has always been to support investments that not only yield substantial returns but also contribute positively to the socio-economic fabric of South Africa.
He added that MetroFibre has proven to be an entity that aligns perfectly with our investment philosophy.
“With its dedicated mission to bring quality and affordable fibre to millions of homes, MetroFibre resonates with our commitment to uplift communities and bridge the current digital divide,” said Mampeule
Driving social inclusion, the recently launched pay-as-you-go model of different fibre-to-the-home operators has demonstrated the industry efforts to serve under-served communities
By this services will cater to the needs of South African consumers who will receive high-speed internet accessible for everyone which has always been a challenge.
Mampeule says that the investment will further empower MetroFibre in continuing its remarkable work of transforming the country’s digital landscape.
“This investment is not just about providing capital but is a vote of confidence in MetroFibre’s ability to innovate and lead in a competitive and critical sector.
The partnership with MetroFibre further establishes Sahif’s commitment to investing in infrastructure that drives economic growth and social development in South Africa, ensuring that the benefits of technological advancement are shared by all, he said
Mampeule said that the current race towards consolidation in the telco or fibre optic sector would, in the end, benefit the consumers who are in much need of affordable internet.