CDC Group, a finance institution owned by the UK’s Department for International Development (DFID), has announced a NPR1.35 billion (USD117.7 million) equity investment in Nepalese ISP WorldLink Communications. The investment will help fund WorldLink’s ambitious expansion throughout Nepal, connecting hundreds of thousands of households in remote areas and stimulating local economic growth. According to TeleGeography’s GlobalComms Database, WorldLink is Nepal’s largest ISP with a 35.3% market share and a fibre-to-the-home (FTTH) network that covers 70 districts.
Srini Magarajan, Managing Director and Head of Asia at CDC, commented: ‘WorldLink’s expansion has been impressive, led by its experienced founding and management teams. CDC’s capital will help accelerate this, helping it reach further remote regions. It will also support a meaningful increase in the employee base, providing all staff with learning and development skills.’