DNI, a privately owned South African investment company, has announced investments exceeding R2.1 billion across connectivity, digital services, and fintech, expanding access to the tools and services that empower meaningful participation in the digital economy and drive greater financial inclusion for millions of people.
The investments span Frogfoot, Vox and Hypa, Mission Mobile, and KnowRoaming, bringing complementary capabilities in fibre infrastructure, affordable device access, and eSIM services into one connected strategy.
Together, these businesses expand on DNI’s investment strategy backing founder-led companies with deep sector expertise, to support their growth and create opportunities for collaboration and long-term value within the DNI integrated ecosystem.
“Access to digital technology increasingly determines access to opportunity. Whether it is broadband connectivity, smartphone ownership, or global mobility, our goal is to help more people participate fully in the digital economy, at scale.
“By providing long-term capital, hands-on support and strategic guidance, our ambition is to support our partners to scale their impact while remaining nimble and focused on the markets and customers their businesses serve,” says Dr Ryan Noach, CEO of DNI.
Expanding high-speed connectivity into underserved communities with Frogfoot and Vox
Through its investment in Frogfoot, Vox and Hypa, alongside with a group of leading investors, DNI is helping to accelerate the rollout of digital infrastructure and reliable connectivity across South Africa, particularly in underserved communities. By expanding access to connectivity, DNI is supporting one of the country’s most important drivers of economic growth and opportunity.
The transaction introduces new growth capital into the businesses and values the companies at an aggregate R14.4 billion. As the largest shareholder grouping in this capital investment, the DNI Consortium, comprising DNI, Sabvest Capital Limited, Masimong Group Holdings and Draper Gain International, will jointly hold a ~34.8% interest in the companies. Sabvest and Draper-Gain are existing shareholders in DNI.
Founded more than 25 years ago, Frogfoot has grown into South Africa’s fourth-largest fibre network operator. The growth capital will materially accelerate the expansion of affordable, high-speed connectivity into previously underserved and lower-income township communities, enabling Frogfoot to increase its pace of home connections, reaching 360,000 homes over the next 12 months and creating more than 5,000 direct jobs in local communities.
The investment in Vox is aligned to DNI’s broad B2B relationships. Vox, an ISP serving businesses, public-sector customers and households across South Africa, offers the full range of connectivity solutions including fixed and wireless connectivity, voice, data, cloud, collaboration and cybersecurity services.
Hypa, which is wholly owned by Vox, is focused on connecting prepaid fibre broadband services to lower-income households across multiple open access fibre networks, including Frogfoot’s expanding network. Frogfoot and Hypa have developed a unqiue solution to the build, roll-out and prepaid sale of high speed fibre broadband in lower income communities.
Consistent with DNI’s longstanding investment strategy, the incoming investors are supporting Frogfoot and Vox’s experienced management team, who participate directly through an equity stake, further aligning leadership with long-term shareholder value.
“This capital raise is designed for societal impact at scale,” says Abraham van der Merwe, who will lead the companies as CEO alongside Gert Koen as CFO.
“Every additional home we reach in a township or lower-income community represents another family gaining access to the digital opportunities made possible by fibre. Closing the digital divide is critical because it enhances access to education, financial inclusion, remote work, and local micro-enterprises.
“The additional capital raised strengthens the companies materially and allows us to significantly step up our rollout velocity,” says Van der Merwe.
Creating more value through smartphones and digital services with Mission Mobile
Mission Mobile is an early-stage innovative mobile technology company that makes smartphones and connectivity more affordable and accessible.
Mission Mobile enables mobile networks to engage and retain more customers through a unique retail model that is available from within network stores.
Mobile network operators are able to reach more customers by working with Mission Mobile, particularly those who may be excluded by conventional mobile contracts.
DNI will provide growth capital to enable Mission Mobile to scale its contracted model of bite-sized monthly payments for high-quality smartphone and connectivity access.
“The impact of digital inclusion is measured not only by connectivity, but by what people can achieve once connected. A smartphone can help someone search for work, access educational resources, run a small business or participate more fully in the digital economy. Yet many South Africans still struggle to access the devices and connectivity that make those opportunities possible.
“Mission Mobile was built to close that gap and DNI’s investment will help us scale this model, enabling more people to benefit from the opportunities that come with being connected,” says Tim Strike, Co-founder and CEO of Mission Mobile.
Scaling seamless connectivity across borders on the KnowRoaming platform
Marking an important step in broadening DNI’s well established SIM distribution capabilities, and meeting the increasing connectivity needs of consumers, the Group is investing in KnowRoaming. KnowRoaming’s eSIM technology and app enables global travellers to stay connected across borders worldwide without the friction and cost traditionally associated with using mobile services abroad.
The global eSIM industry is experiencing significant structural tailwinds as market demand accelerates. According to Juniper Research, global travel eSIM revenue is expected to reach US$8.7 billion by 2030, driven by more cross-border travel, the increasing adoption of eSIM-enabled devices and the growing demand for flexible, app-based connectivity solutions.
With proven world-leading technology and extensive global connectivity partnerships, KnowRoaming is well positioned to capitalise on this growth opportunity. DNI’s investment will support the expansion of KnowRoaming’s consumer reach and global footprint and help strengthen its ability to deliver seamless travel connectivity.
“The global shift to eSIM technology is changing how travellers and businesses connect across borders. Customers increasingly expect mobile connectivity to be as immediate, flexible and intuitive as the other digital services they use.
“KnowRoaming simplifies global connectivity while reducing the complexity traditionally associated with international roaming.
“DNI brings significant telecommunications expertise, strong industry relationships and a long-term commitment to digital innovation.
“Importantly, KnowRoaming and DNI share a vision of making global connectivity more accessible wherever people live, work and travel. T
“his partnership positions us to accelerate our growth and partnerships across the African continent, expand our international footprint and respond to the opportunities emerging as eSIM adoption continues to increase,” says Mike Roffey, Director of KnowRoaming.
Building long-term value across the portfolio
Together, these investments reflect DNI’s commitment to backing founder-led businesses while preserving the leadership, culture and entrepreneurial vision that have driven their success. Existing management teams remain in place across the portfolio, with DNI providing long-term support and strategic guidance to help drive their next phase of growth.
Noach adds: “Collectively, these investments respond to rising demand for connectivity, digital services and technology solutions.
“DNI’s philosophy has always been to partner with world-class founders, providing the capital, industry expertise and broader opportunities to help them execute their vision at-scale and accelerate growth.
“We are excited about what comes next and the potential of these businesses to create lasting value in the years ahead.”
