Standard Bank facilitates a R5bn deal to finance MetroFibre’s ambitious fibre roll-out programme

Standard Bank Group has successfully finalised a R5bn debt finance package for MetroFibre Networx, supporting its continued fibreoptic data network rollout across SA.  

The financing will be used to expand MetroFibre’s world-class fibre connectivity into homes and businesses in underserviced communities across SA and is set to contribute to increasing Metrofibre’s reach by an additional 500,000 households across SA.

“Partnerships such as these are a testament to how doing good in business is good for business, and in this case empowering South Africans through digital inclusion to foster meaningful social impact,” says Nishela Ramgoolam, Structured Capital executive at Standard Bank Corporate and Investment Banking.

The fast-growing demand for fibre connectivity in many outlying regions presents opportunities for filling this critical gap, not only from a business perspective, but also from a socioeconomic upliftment standpoint. 

“Access to the internet is fundamental in closing the digital divide and giving individuals the opportunity to participate in the globally connected economy,” says Kumbirai Gundani, Telecoms, Media and Technology executive at Standard Bank Corporate and Investment Banking.”

“This timely deal with a proudly South African digital infrastructure business supports Standard Bank’s mission of driving positive, sustainable and truly embedded technological growth across the continent, and developing digital innovations that matter.”

MetroFibre Networx is a diversified network operator, a carrier class Ethernet (CE 3.0) infrastructure company that provides highly managed fibreoptic broadband connectivity in SA.

Launched in 2010, the company ranks among the top three fibre network operators in SA with its open-access network now passing through more than 350,000 homes in six provinces.

This article was paid for by Standard Bank.