Liquid Telecom Equity

active

Liquid Telecommunications (Jersey) Limited (Liquid, LTJ or the “Company”) is an independent telecommunications provider of international, voice, internet and data transmission using fiber and satellite technologies. Liquid, part of the Econet group of companies, is a leading pan-African technology group with operations across 15 countries, primarily in Sub-Saharan Africa. Liquid has firmly established itself as the leading provider of pan-African digital infrastructure with an extensive network covering approximately 100,000 km. Liquid is redefining network, cloud, and cybersecurity offerings through strategic partnerships with leading global players, innovative business applications, smart cloud services and world-class security on the African continent. The Group also operates state-of-the-art data centres in Johannesburg, Cape Town, Nairobi, Harare and Kigali, with a combined potential 19,000 square metres of rack space and 74 MW of power. Liquid owns Liquid Telecommunications Holdings Limited (“LTH”) and Africa Data Centres Holdings Limited (“ADC”) which together carry out Liquid business across Africa through subsidiaries (national operating companies) (“Liquid Group”).To support Liquid’s growth strategy, IFC intends to make an equity investment of approximately US$ 90 million in the company, as part of a rights issue for existing shareholders to support the company’s data center capacity expansion in Africa (the “Project”). In addition to the proposed transaction, IFC has recently (i) subscribed for US$100 million in the LTH bond issuance and (ii) approved a term loan facility of up to US$75 million to be provided in ZAR. The Environment and Social Review Summary and the Environmental and Social Action Plan (ESAP) covering the two previous investments (Project #44798) were disclosed in March 2021 and can be accessed via  https://disclosures.ifc.org/project-detail/ESRS/44798/liquid-telecom-bond.