CSquared Link Holdings, a pan-African technology company focused on digitally connecting Africa through telecommunications infrastructure, has received a $25 million investment from Convergence Partners’ Digital Infrastructure Fund (CPDIF), the International Finance Corporation (IFC), and the International Development Association’s (IDA) Private Sector Window Blended Finance Facility. The funds will accelerate the expansion of CSquared’s carrier-neutral, open-access broadband infrastructure across the continent. This investment is part of a broader $65 million program to finance CSquared’s growth and development objectives.
- Investment Partners:
- Convergence Partners’ Digital Infrastructure Fund (CPDIF), IFC, and the International Development Association’s (IDA) Private Sector Window Blended Finance Facility have invested $25 million in CSquared Link Holdings to support the expansion of its broadband infrastructure in Africa.
- CSquared’s Objectives:
- CSquared, launched as a project within Google in 2011, aims to increase Internet penetration in Sub-Saharan Africa and reduce Internet access costs. The company focuses on building metropolitan fiber optic networks and operates as a carrier-neutral provider of shared infrastructure.
- Equity Investment Details:
- The $25 million equity investment is the first tranche in a broader $65 million investment program to finance CSquared’s expansion. The funding will be used for network expansion as CSquared continues its efforts to drive digital infrastructure development in Africa.
- Strategic Vision:
- CSquared’s long-term vision is to transform lives through digitalization by providing Internet access for all in Africa. The company operates in six markets across the continent, including Uganda, Ghana, Liberia, Kenya, the Democratic Republic of Congo, and Togo.
- Previous Investors and Developments:
- In October 2017, Mitsui & Co., Ltd., Convergence Partners Communication Infrastructure Fund, and IFC joined CSquared to deepen market penetration and expand geographically. The company has successfully established operations in multiple African markets.
- Impact and Future Plans:
- CSquared aims to expand its digital broadband infrastructure footprint in existing markets and explore opportunities in new markets. The investment will contribute to the development of the African ICT ecosystem, providing both developmental impact and strong commercial returns.
The $25 million investment in CSquared Link Holdings underscores the importance of digital infrastructure in advancing connectivity and economic development in Africa. The funds will empower CSquared to expand its broadband infrastructure, foster digital transformation, and contribute to providing affordable and accessible Internet services across the continent. As a carrier-neutral operator, CSquared’s efforts align with the broader goal of achieving a digitally connected Africa.