Namibia Infrastructure Development Fund Invests in Lightstruck Holdings to Expand Last-Mile Fibre Networks
The Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, has made a significant minority stake investment in Lightstruck Holdings, a fibre infrastructure company specializing in open-access last-mile fibre networks. This strategic investment aims to promote economic and social development by expanding fibre infrastructure in underserved towns and communities across Namibia.
Key Points:
1. Investment Structure:
- NIDIF’s investment in Lightstruck Holdings comprises a combination of equity and preference shares.
- The funding is specifically geared towards supporting the build-out of last-mile fibre infrastructure in towns and communities that have previously been overlooked.
2. Open Access Fibre Network:
- The investment marks the initiation of Namibia’s first-ever open-access fibre network, enabling inclusive participation in the ICT sector and addressing the digital divide.
- The collaborative effort aims to create a lasting impact by providing economic and social benefits to Namibian communities through enhanced digital connectivity.
3. Mission Alignment:
- Frederico Van Wyk, Eos Capital’s Chief Investment Officer, highlights the importance of partnerships in achieving the mission of an open-access fibre network in Namibia.
- The collaboration between NIDIF and Lightstruck Holdings reflects a shared commitment to closing the digital gap and fostering ICT inclusivity.
4. Lightstruck Holdings Background:
- Lightstruck Holdings, formed through a joint venture between Lightstruck South Africa and Africa Merchant Capital Holdings, specializes in developing, owning, and operating open-access last-mile fibre networks.
- The company employs an infrastructure investment methodology focused on delivering long-term fibre optic networks for the economic and social benefit of Namibian communities.
5. Economic and Social Impact:
- Coenraad Krige, Director of Lightstruck and Managing Director of Eaglestone South Africa, emphasizes the joint mission to develop economic and social infrastructure assets in Namibia.
- The installation and maintenance of fibre by Lightstruck contribute to the development of a next-generation digital utility service.
6. Partnership Significance:
- Cobus Visagie, Group CEO of Africa Merchant Capital, expresses pride in partnering with Eos Capital to provide fast-speed fibre connectivity to Namibian home and business owners.
- The partnership aims to offer excellent service and a product that meets the evolving internet requirements of modern businesses and homeowners.
Conclusion: The collaboration between NIDIF, managed by Eos Capital, and Lightstruck Holdings signifies a significant step towards advancing Namibia’s digital infrastructure. The investment’s focus on open-access last-mile fibre networks reflects a commitment to bridging the digital divide and fostering economic and social development in Namibian communities.