The strategic partnership between the Altech Group and Liquid Telecommunications Holdings that will see the creation of the largest fibre network in Africa has been concluded. Altech has announced that all customary conditions have now been fulfilled, with board and regulatory approvals received. Altech Group CEO Craig Venter commented: ‘Although our initial foray into East Africa was immensely successful, as shareholders are aware, in recent years these activities have been problematic and unprofitable. I promised an effective solution and I believe the Liquid transaction opens a positive new chapter for Altech, in partnership with a group with proven expertise in its sector’.
Liquid, which was established in 1997, provides backhaul between most urban areas and last mile connectivity in the main cities of the Democratic Republic of Congo (DRC), Zambia, Zimbabwe, Botswana, Lesotho and South Africa. Further, the company claims that its network is the first to cross country borders and covers some of the most challenging parts of the world where no fixed network has existed before; many of these areas are not covered by wireless or satellite either.