STOA Infra and Energy announced it has acquired a strategic equity interest in Metro Fibre Networx in South Africa.
The company purchased a 23.08% stake in Metro Fibre, leveraging a portion of its capital base earmarked for investments in telecommunications sectors in developing countries.
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,” said STOA deputy CEO Marie-Laure Mazaud.
“We are really confident with our partnership with Metro Fibre and are looking forward to supporting the management to take advantage of new opportunities.”