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 provides US$150 million financing facility to support Angola’s development priorities Absa Corporate and Investment Banking (CIB) has provided a US$150 million financing facility to the Republic of Angola, reinforcing its commitment to delivering tailored financing solutions that support economic development and growth across Africa. Read more DEALS Absa and Agri3 partner to unlock sustainable agriculture financing across Africa Absa Corporate and Investment Banking (CIB) has entered into a US$100 million Master Risk Participation Agreement with Agri3, a global blended finance vehicle established to mobilise US$1 billion of public and private capital towards sustainable agriculture and forest conservation across developing markets. Read more DEALS Supporting cleaner fuels and long-term energy resilience Natref is investing in refinery upgrades that support cleaner-fuel readiness, operational continuity and South Africa’s inland fuel supply. Read more
