Harith exits MainOne to US-listed Equinix
Harith General Partners, an investor in African infrastructure, has concluded the disposal of its stake in MainOne, West Africa’s largest communications services operator, to Equinix , the world’s largest digital infrastructure company, following the achievement of all regulatory approvals.
MainOne is one of the largest investments of the Harith-managed $630 million Pan African Infrastructure Development Fund (PAIDF). The sale of MainOne represents an important milestone for Harith and its PAIDF investors.
MainOne was established to finance, construct, own and operate a state-of-the art subsea fibre-optic broadband cable system more than 7,000km long. The cable connects the west coast of Africa by means of a landing in Nigeria, Ghana, Côte d’Ivoire and Senegal to the rest of the world through a landing in Portugal and onward connectivity to London.
Harith CEO, Sipho Makhubela said, “The success of MainOne illustrates Harith’s proven ability to identify compelling value opportunities that have the potential to deliver both developmental and financial returns to investors. By investing in a transformational communications infrastructure project, Harith played a leading role in bridging the digital divide and providing West Africa with the high speed, reliable connectivity it needed to support rapid economic growth and integration with the global economy. With a successful exit from MainOne secured and a deep team of investment professionals specialised in infrastructure, we are now well poised to capitalise on the next wave of digital opportunities on the continent.”
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