Private equity firm Actis LLP is in talks to buy Swiftnet, the mast and tower business owned by South Africa’s Telkom SA SOC Ltd., according to people familiar with the matter.
The deal would also include a smaller, local partner, according to the people who declined to be identified because they’re not authorized to speak on the matter. Swiftnet is valued at as much as 6.3 billion rand , Telkom said previously.
Africa has a fast growing, youthful, and increasingly tech-savvy population, and firms have been buying into digital-infrastructure assets to tap rising demand for broadband as smartphones become more widespread. Actis has been growing its digital infrastructure portfolio in South Africa, buying fiber company Octotel in 2020.
Meanwhile, mobile companies have increasingly sought to spin off their towers to focus on their core business, with Vodafone Group Plc’s African unit Vodacom saying in 2022 it plans to separate its towers portfolio into a new unit. In 2022, MTN Group Ltd. concluded a sale and lease-back deal with IHS Holding Ltd. for more than 5,700 of its tower sites in South Africa.which aims to encourage constructive discussions. To get your comments published, make sure it is civil and adds value to the discussion.
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