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 Supports Heriot REIT’s Landmark Student Accommodation Development in Cape Town Absa Corporate and Investment Banking has partnered with Heriot REIT to provide development and investment financing for a landmark student accommodation project in Cape Town, reinforcing our commitment to enabling sustainable growth and investment across South Africa's real estate sector. Read more DEALS Absa supports investment in Eastern Cape retail communities Access to quality retail infrastructure plays an important role in sustaining local economies, creating opportunities for small businesses and providing communities with access to essential goods and services. Read more DEALS Stewarding retirement confidence across generations Enabling trusted continuity and long-term confidence as custodian to Africa’s largest pension fund. Read more
