A consortium led by Actis, a global leader in sustainable infrastructure investment, has finalized the acquisition of Swiftnet, one of South Africa’s leading telecom tower operators. The deal secures a 100% stake in Swiftnet, marking a major step in advancing the country’s digital infrastructure.
The consortium, which includes both international and local investors—among them the Mineworkers Investment Company (MIC), a 100% black-owned South African investment holding firm—now holds a 70% share in Swiftnet. Royal Bafokeng Holdings retains the remaining 30% stake.
Acquired from Telkom for an enterprise value of approximately US$370 million (ZAR6.75 billion), Swiftnet operates a network of over 4,000 telecom tower sites across South Africa. Under its new ownership, the company aims to reinforce existing partnerships with Telkom and other key tenants while expanding its reach, particularly in rural areas. Additionally, Swiftnet is positioned to support South Africa’s transition from 3G and 4G technology to widespread 5G adoption.
This acquisition further strengthens Actis’ role as a key investor in South Africa’s digital economy. The firm previously invested in Octotel, a major fibre network operator in the Western Cape, which it exited in 2024. For MIC, the investment aligns with its strategy to diversify into sectors with strong long-term growth potential, particularly in digital infrastructure.
David Cooke, Partner at Actis, highlighted the significance of the acquisition:
“We are excited to establish Swiftnet as South Africa’s leading independent Towerco. With strong relationships among mobile network operators and anchor tenants, the company is well-positioned to meet growing internet demand, increase coverage, and enhance mobile connectivity, ultimately contributing to the growth of South Africa’s digital economy.”
Matthew McCollum, Director at Actis, emphasized the growth potential:
“Swiftnet’s unique portfolio of tower assets presents an opportunity to expand mobile coverage and accelerate 5G adoption. This investment builds on Actis’ deep experience in digital infrastructure, and we look forward to working with the Swiftnet team to drive the platform’s future growth.”
MIC’s Acting CEO, Cynthia Pongweni, underscored the investment’s impact:
“We are delighted to collaborate with Actis and Royal Bafokeng in strengthening South Africa’s digital connectivity. This transaction marks a critical step in modernizing the country’s telecommunications infrastructure and expanding 5G capabilities.”
Actis continues to expand its global footprint in digital infrastructure, with recent investments in Connectis Tower in the Balkans and Epoch Digital, a data center platform with assets in Taiwan, Malaysia, and Korea. Collectively, the firm’s digital infrastructure portfolio now represents a combined enterprise value of approximately US$3.5 billion.
//Staff writer
