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Liquid Telecom to invest in Egypt’s data centers

Liquid Telecom to invest in Egypt’s data centers

ArabFinance: Data, voice, and IP provider in central and southern Africa Liquid Telecom plans to grow its data center arm in Egypt, Bloomberg reported on October 26th.

The move comes in line with securing $307 million (EGP 4.82 billion) in investment through a rights issue to fund the expansion of its business across Africa.

The raised amount included an additional $40 million (EGP 628.42 million) from British development finance institution CDC Group, the company added.

Liquid Telecom, however, did not disclose the funding size that would be earmarked for Egypt, yet said it was part of a four-country group that would receive investment.

The company currently operates in five data centers in South Africa, Kenya, and Rwanda.

Liquid Telecom South Africa recently appointed Deon Geyser as its new CEO, to be effective from 2021, as part of its plans to reposition the company as a leading digital services provider.

 

*At press time, the conversion rate is $1 = EGP 15.71

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