Dark Fibre to refinance and extend cable network
DARK Fibre Africa (DFA), a telecoms infrastructure provider, is targeting more public-sector clients as it secures additional funding to expand its network, it said on Tuesday.DFA, partly owned by Remgro, said this week it had entered into a refinance agreement with a syndicate of lenders to provide R3.5bn of corporate debt facilities.The money will be used to refinance the existing R2.8bn project funding. The R700m balance will be used for the expansion of its network infrastructure. The funders are Absa Bank, the Development Bank of Southern Africa, Rand Merchant Bank, Futuregrowth Asset Management, Investec Asset Management, the KZN Growth Fund, Liberty Group and Stanlib Asset Management.DFA lays fibreoptic cables that it monitors and maintains, then sells capacity to operators to enable them to provide broadband to their customers. Its open-access model stimulates competition in the telecommunications market and has eliminated duplication in some areas, and has helped companies ...
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