-- A US development agency will be one of the main investors as African fiber company Liquid Telecommunication Holdings Ltd. seeks to raise $225 million in equity by the end of the year, according to Chief Executive Officer Hardy Pemhiwa.The International Development Finance Corporation will be one of the biggest participants in a $90 million tranche in the next few weeks, while Liquid plans a second round later in the year, Pemhiwa told Bloomberg News in an email.
The fresh investment will assist Liquid to deal with looming maturities on loan and bond repayments coming up, with a $156 million equivalent term loan and $620 million bonds due in 2026. The project with Microsoft aims to deliver affordable broadband through last mile connection to 20 million Africans across Kenya and Zambia, he said.
Liquid has laid over 110,000 kilometers of fiber across Africa as demand for higher-speed internet links and data storage increases.The former president and his wife Michelle Obama gave rousing speeches at the second night of the Democratic National Convention.Allane investors are sitting on a loss of 39% if they invested three years agoScotland's First Alpine Coaster Tested