by Staff Writer
South Africa’s tech firm Vox has announced that its shareholders have approved R550 million investment earmarked to enable the company to prioritise three key areas of the business.
Jacques du Toit, CEO of Vox, said in a statement that the investment will be directed into extending the Vox fibre rollout through its wholly owned subsidiary Frogfoot Networks, bolster job creation and improve efficiencies through enhanced automation.
“The capital injection into our operations endorses our conversion strategy. We are moving away from being just an Internet service provider (ISP) into a Telco that provides connectivity and integrated services. We are laying the foundation to secure market share and growth in key geographic precincts around South Africa.”
Vox will deploy the bulk of the investment to fast-track its fibre-to-the-home and fibre-to-the-business programme. In the past 18 months, the company has secured 86,000 fibre-to-the-home and just over 10,000 fibre-to-the-business opportunities.
“We now have more than 300 coverage areas where we are able to provide fibre related services.”
Vox will also invest in growing its sales force across the country from 280 to 450 people in the next 18 months. Over the last 24 months Vox has invested R50 million into the first phase of its sales expansion programme.
Vox will continue to focus on the automation of its internal processes. This includes the migration to a new OSS/BSS platform that has been developed over the last two years.
“This investment comes at a critical time for us, especially when you consider the current South African economy and as such, it demonstrates that our shareholders believe in what we are doing and how we are doing it and it also shows that investing in fibre is the right thing to do,” concludes Du Toit.