INTELLIGENT BRANDS // Cabling
Liquid Intelligent Technologies receives R900 million investment for Eastern Cape Fibre Project
Liquid Intelligent Technologies , a business of Cassava Technologies , a pan-African technology group , will receive R450 million in funding from the International Finance Corporation , IFC and Rand Merchant Bank , RMB each for its South African operations . The total investment of R900 million will support universal and affordable broadband access in the Eastern Cape Fibre Project .
The Eastern Cape is one of the least connected regions in South Africa . Only 65 % of households have Internet access , and only 5 % have access from home . This is twice as low as the average for South Africa , where 10 % of the total population has internet access from home .
Since its inception , the Eastern Cape Fibre Project has been a transformative initiative .
It has played a significant role in reiterating that Liquid South Africa is aligned with the government in meeting its 2030 NDP objective of 100 % broadband coverage . Liquid SA has invested heavily in EC since then across a raft of initiatives aimed at fostering innovation and empowering citizens with digital skills , even in the farthest part of the province .
It has invested over R400 million into extending its operations in the region , connecting more than 1,300 government buildings , and creating over 600 permanent and temporary jobs .
The project will significantly increase access to high-quality digital connectivity for businesses and other organisations . As high-speed Internet infrastructure expands , it will create jobs and stimulate economic growth . Beyond the immediate project , the investment will strengthen the integration of the digital ecosystem in South Africa , facilitating e-government services and connecting underserved areas .
Liquid Intelligent Technologies looks forward to this investment ’ s tremendous impact on the country ’ s digital future and society . This investment is a major milestone in realising a digitally connected Africa that is empowered through connectivity , in which no one is left behind .
The investment from the IFC , a member of the World Bank Group , is the latest contribution to the collaboration it entered into with Liquid , which is aimed at increasing digital connectivity and inclusion in Africa and supporting the region ’ s growing digital ecosystem .
Liquid Intelligent Technologies is a business of Cassava Technologies , a pan-African technology group with operations in over 25 countries in Africa . Liquid has firmly established itself as the provider of pan-African digital infrastructure with a 110,000 km-long fibre broadband network and satellite connectivity that provides high-speed access to the Internet anywhere in Africa .
Liquid is also leveraging its digital network to provide cloud and cyber security solutions through strategic partnerships with global players .
“ We believe this collaboration sets a new benchmark for the financing and development of digital infrastructure in South Africa ,” says Hardy Pemhiwa , Group Chief Executive Officer of Liquid Intelligent Technologies . p
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