The Star E-dition

Entrepreneur Mampeule leads internet revolution

LEHLOHONOLO MASHIGO lehlohonolo.mashigo@inl.co.za Mampeule is chairperson of the Mampeule Foundation, sits on the board of MFN, serves as chairperson of the SMaCT Research Centre at the University of Johannesburg and is a councillor at the Global Surgery

COVID-19 transformed South Africa’s internet and digital revolution. More so when the SA Housing and Infrastructure Fund (Sahif) partnered with Old Mutual and French-based Stoa Infra & Energy to acquire 100% of the share capital in Metro Fibre Networks.

Entrepreneur Rali Mampeule became the single biggest black private investor in optical fibre in South Africa.

The stake Sahif bought was held by Sanlam Private Equity, and African Rainbow Capital was owned by Patrice Motsepe. Metro Fibre Networks (MFN) is one of South Africa’s top three fibre network operators, and Mampeule is the founder of Sahif.

Recent reports about Africa’s largest asset manager, the Public Investment Corporation, backing a possible bid led by the former chief executive of Telkom SA, Sipho Maseko, for a stake in Telkom points to a race to consolidate telecoms and the fibre optics industry.

Vodacom’s deal to buy Vumatel is awaiting a Competition Commission answer and approval may be any time now.

Working from home is big business, and fast and reliable internet is the new gold.

Speaking to The Star on the MFN investment, Mampeule said: “In a world where connectivity is no longer a luxury but a necessity, our investment came at a pivotal time when the demand for reliable, high-quality and affordable internet is soaring.

“As seen when South Africa navigated the challenges of the Covid-19 pandemic, the importance of efficient and reliable internet connectivity for work, education and entertainment purposes cannot be overemphasised.”

Sahif’s investment in MetroFibre Networx is said to have been aimed at also accelerating digital transformation for homes and businesses across South Africa, aided by the fact that home Wi-Fi and mobile can be unreliable.

Sahif reported that its long-term strategy is to invest and diversify its digital and land infrastructure investment portfolio and raise as much as $225 million (about R4.4 billion) to achieve that vision.

“At Sahif, our mission has always been to support investments that not only yield substantial returns but also contribute positively to the socio-economic fabric of South Africa.

“MetroFibre has proven to be an entity that aligns perfectly with our investment philosophy. With its dedicated mission to bring quality and affordable fibre to millions of homes, MetroFibre resonates with our commitment to uplift communities and bridge the current digital divide,” Mampeule added.

The recently launched pay-as-you-go model by different fibre to home operators has demonstrated the industry efforts to serve underserved communities, driving social inclusion.

Servicing the diverse needs of South African consumers, to make high-speed internet accessible for everyone, has always been a challenge.

Mampeule believes the Sahif investment will further empower MetroFibre to continue its remarkable work of transforming the country’s digital landscape.

This investment is not just about providing capital but is a vote of confidence in MetroFibre’s ability to innovate and lead in a competitive and critical sector.

The partnership with MetroFibre further establishes Sahif’s commitment to investing in infrastructure that drives economic growth and social development in South Africa, ensuring that the benefits of technological advancement are shared by all.

METRO

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2023-06-01T07:00:00.0000000Z

2023-06-01T07:00:00.0000000Z

https://thestar.pressreader.com/article/281548000274720

African News Agency