The Namibia Infrastructure Development and Investment Fund (NIDIF), an infrastructure fund with the mission to develop economic and social infrastructure assets in Namibia and managed by Eos Capital, has acquired a significant minority stake in the Namibian business of Lightstruck Holdings, a fibre infrastructure company, specialising in open access last-mile fibre networks.
The investment from NIDIF combines equity and preference shares to support the build-out of the last-mile fibre infrastructure in previously overlooked towns and communities in Namibia.
Frederico Van Wyk, Eos’ Chief Investment Officer, said: “This will be the first ever open access fibre network in Namibia, creating inclusion for players in the ICT sector and closing the gap in the digital divide. Finding partnerships to achieve this is essential, and we value joining the mission with Lightstruck Holdings”.
Lightstruck Holdings was founded as a joint venture between Lightstruck South Africa and Africa Merchant Capital Holdings to develop, own and operate open access, high-end, last-mile fibre by deploying an infrastructure investment methodology that delivers long-term fibre optic networks for the economic and social benefit of the Namibian communities in which fibre is deployed.
Coenraad Krige, Director of Lightstruck and Managing Director of Eaglestone South Africa, said: “The Company has decided to partner with Eos Capital because we share a joint mission to develop economic and social infrastructure assets in Namibia. We install and maintain fibre as a nextgeneration digital utility service.”
Cobus Visagie, Group CEO of Africa Merchant Capital, added: “We are proud to partner as a Namibian company with Eos Capital to enable home and business owners in Namibia to utilise fast-speed fibre and to offer our customers the combination of both excellent service, with a product offering that would suit most business and homeowners’ modern and growing internet requirements.”
Eos Capital is a Namibian private equity firm with over N$ 1 billion in assets under management. Eos Capital manages the Allegrow private equity fund, Euphrates Agri fund and NIDIF. NIDIF targets infrastructure projects in Namibia through equity funding to generate long-term, stable, and robust income yields and capital growth for its investors. The fund’s main target sectors include Energy, Water, ICT, Transport and Logistics, Healthcare, and Education.