South Africa: Meridiam invests in township internet provider
Meridiam has acquired a majority stake in Ilitha, a telecommunications company.
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Meridiam has acquired a majority stake in Ilitha, a telecommunications company providing affordable internet solutions to underserved areas in South Africa.
This investment, made through the Meridiam TURF B Fund, will enable Ilitha to accelerate its fibre rollout in South Africa’s township communities, with the ambition to connect more than half a million households.
Ilitha deploys and operates fibre networks and provides prepaid internet access packages in areas that are today neglected by mainstream providers of internet access. Its solutions allow customers to use unlimited broadband internet both at home and on the go, thanks to internet hotspots rolled-out in the area, at an affordable cost.
“With this investment, we aim to play a catalytic role in the nascent but fast-growing internet market in the underserved areas of South Africa. But even more importantly, we expect to contribute to a tangible positive social and economic impact on township communities by providing them with reliable, affordable and fast internet connectivity,” said Marie Lam Frendo, Meridiam partner and chief strategy officer.
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