INVESTMENT giant Remgro has signalled that big things are expected from its investment in fibre-optic cabling specialist Dark Fibre Africa. At an investment briefing on Wednesday, Remgro CEO Jannie Durand said the company was confident about the future of Dark Fibre Africa, which he reckoned was capable of sustaining double-digit growth. "We believe this business will make a significant contribution to Remgro’s net asset value and earnings going forward." Remgro’s interest in Dark Fibre Africa is held via a 50.9% stake in CIV Group, one of the company’s smaller investments, with an intrinsic value estimated at R3.2bn. Remgro’s investment portfolio is worth more than R150bn, and includes major listed counters such as Mediclinic Corporation, FirstRand, RMI, RCL Foods and Distell. In the year to end-June, Dark Fibre Africa reported revenue up 13.5% to R1.19bn with earnings before interest, tax, depreciation and amortisation growing 15% to R861m. Durand said Dark Fibre Africa’s improved...
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