Row rect Shape Decorative svg added to bottom Absa supports Ilitha’s expansion of fibre connectivity across underserved communities Absa | Corporate and Investment Banking > Insights and Events > Absa supports Ilitha’s expansion of fibre connectivity across underserved communities SHARE Absa Corporate and Investment Banking (CIB) has successfully supported Ilitha Telecommunications through a R500 million financing facility that will enable the expansion of its fibre network across South Africa’s township economies. Founded in 2019, Ilitha is a fibre network builder, operator and ISP focused on providing affordable, high-speed internet access to underserved communities. Acting as Mandated Lead Arranger and Original Lender, Absa provided the full R500 million facility to help Ilitha accelerate its growth ambitions and expand access to digital infrastructure. The facility supports Ilitha’s objective of expanding fibre access to low-income households in support of unlocking economic opportunity, supporting educational outcomes and promoting greater digital participation. The transaction aligns with Absa’s purpose of empowering Africa’s tomorrow, together … one story at a time. By financing critical digital infrastructure, Absa is helping to create more inclusive communities and supporting long-term economic growth through improved connectivity. Gregory Casewell https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Absa and Global Infrastructure Partners mobilise capital for strategic African energy infrastructure Africa’s energy transition requires sustained investment in generation capacity, grid resilience and the infrastructure needed to support long-term economic growth. Mobilising institutional capital at scale is critical to closing the continent’s infrastructure gap and expanding access to more reliable power. Read more DEALS Absa supports V&A Waterfront’s sustainable growth ambitions Absa Corporate and Investment Banking has supported the V&A Waterfront’s next phase of development through a R2.25 billion syndicated financing facility. Read more DEALS Absa supports Safaricom Ethiopia’s next phase of growth and digital transformation A tailored financing solution enabling network expansion, digital infrastructure investment and greater financial inclusion across Ethiopia. Read more
