Liquid deal marks first investment for Afreximbank’s FEDA

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Afreximbank‘s Fund for Export Development in Africa (FEDA) has made its first investment, backing Liquid Intelligent Technologies, a pan-African fibre and cloud services provider. The fund is acquiring a minority stake in the business for, as at the time we went to press, an undisclosed amount of capital.

Liquid operates data center facilities in Johannesburg, Cape Town, Nairobi, Harare, and Kigali with 19,000 square meters of rack space. The firm has plans to add additional data centers in South Africa and Kenya as well as build new facilities in Nigeria and Egypt. The firm’s existing fibre network covers more than 100,000kms, making it one of the largest fibre and cloud services providers on the continent serving a customer base made up of mobile operators, carriers, businesses, media, and content companies who use Liquid’s services for high-speed, reliable connectivity, hosting and co-location needs, and other digital services.

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