Old Mutual Alternative Investments unit in fibre financing deal

Hybrid Equity, a division of Old Mutual Alternative Investments (OMAI), is acquiring a significant stake in Enable Capital, a short-term funder specialising in providing funding solutions for subcontractors involved in the construction and deployment of fibre network infrastructure in South Africa.

Through its Hybrid Equity Fund, Hybrid Equity will invest ZAR150 million (c. $8.4 million) via a special purpose vehicle that funds Enable Capital.

Abdu-Rahman Abrahams, co-head of Hybrid Equity, says the transaction provides the opportunity to deliver a real, tangible impact on internet accessibility in South Africa.

“Through the hands-on approach adopted by Enable and its deeply entrenched relationships built with its client base, we believe we can impact the market for fibre internet and, at the same time, assist small and medium South African businesses with funding,” he says.