STOA acquires stake in Metro Fibre Networx
Allowing STOA to expand its infrastructure and achieve mass scale in the competitive local market.
STOA Infra and Energy has purchased a 23.08 percent stake in Metro Fibre Networx in South Africa, according to a report by MyBroadband.
STOA is a joint stock French company owned by Caisse des D'ep^ots and Agence Francaise de D'eveloppement with a capital base of EUR600 million earmarked for investments in equity and quasi equity in developing and emerging countries in the power, telecommunications and transportation sectors, with a strong focus on Africa.
Metro Fibre was established in 2010 as a fibre connectivity provider to South African enterprises and has expanded its service offering to residential and corporate customers over the last eight years.
Metro Fibre CEO Steve Booysen said this investment would allow the operator to expand its infrastructure and achieve mass scale in the competitive local market.
STOA said telecommunications is a core sector focus for its future investments and South Africa is also one of its key targeted geographies.
“This transaction, which is our third investment in a major infrastructure project, will allow us to collaborate with a strong fibre operator in South Africa and to support a fast-growing company in a dynamic market with increasing demand,” STOA deputy CEO Marie-Laure Mazaud is quoted by MyBroadband.
“We are really confident with our partnership with Metro Fibre and are looking forward to supporting the management to take advantage of new opportunities.”