Liquid Telecom, which is owned by Strive Masiyiwa, is investing $400 million (R5.6 billion) in Egypt over the next three years. This is part of a major partnership with Telecom Egypt which includes network infrastructure and data centres.
The investment was announced on Saturday 8 December at the Africa 2018 Forum.
Telecom Egypt will use the network to connect Egyptian businesses to the rest of Africa, whilst also partnering with Liquid Telecom to build data centres across Egypt. Telecom Egypt owns a 45% stake in Vodafone Egypt.
Following an initial investment of $50 million (R705 million) in data centres and cloud services, Liquid Telecom plans to invest an additional $350 million (R4.9 billion) in broadband and financial inclusion initiatives, as well as high capacity data centres.
The $400 million investment will enable Liquid Telecom to significantly expand its position as a connectivity and cloud solutions provider in North Africa, serving businesses in the region with a world-class network and data centre services.
Through its data centre offering, Africa Data Centres (ADC), Liquid Telecom is facilitating the growth of Africa’s Cloud by providing a platform for cloud services to be delivered locally in many markets for the first time.
Masiyiwa, chairman of Liquid Telecom’s parent company Econet, said the next mission is to complete a link between Cairo and Dakar Senegal through Sudan, Chad, and Nigeria, as well as the rest of West Africa.
“We have already crossed Africa from East to West through Sudan and Chad. We are at the Nigerian border and we expect to reach Abuja by the end of January in time for the AU Summit. We want to reach Dakar before President El-Sisi finishes his term,” he said.
Liquid Telecom’s expanding network is almost 70,000km in length and is linked to more than 600 towns and cities in 13 countries across Africa.