Standard Bank supports Netis’ strategic growth with debt funding package
Standard Bank has provided telecoms company Netis with a debt financing package.
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By Standard Bank
Standard Bank is proud to announce it has provided telecoms company Netis with a debt financing package to support its strategic growth initiatives across the African continent.
Netis, a pan-African telecom provider of mobile and fibre network installation and maintenance services in over 15 countries across East, West and Southern Africa, facilitates the connectivity and access to telecommunications for many communities. The company that has recently been acquired by a consortium comprising Africinvest, Amethis, IFC, and Proparco is a key partner to mobile, fixed network, and digital infrastructure operators across the continent.
Standard Bank SA acted in its capacity as sole mandated lead arranger with Standard Bank Mauritius acting as funder. The transaction involved a refinance of the existing term debt and provided additional growth capital to assist with capital expenditure and expansion into new markets.
The Standard Bank Group’s presence in several countries in which Netis operates enables the management team to source their banking services through a central point of contact with reach across several jurisdictions.
The transaction allows Netis to consolidate its banking services through one institution that is present in the majority of jurisdictions in which they operate. This allows for a greater understanding of the company’s needs and provides Netis with more financial strength to expand further within current and new jurisdictions in line with its strategic growth objectives.
Standard Bank remains committed to partnering with African businesses to support their growth, as well as the economic development of our continent.
Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, it is listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.