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Report: Harith to take majority stake in Malawi fiber network provider

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Report: Harith to take majority stake in Malawi fiber network provider

Harith General Partners is acquiring a majority stake in Open Connect Ltd. as part of a more than US$1 billion infrastructure investment in Africa, Bloomberg News reported.

The South African private equity firm has committed close to US$800 million to African infrastructure to date, of which about a third was invested in telecommunications, the news outlet noted, citing a phone interview with Harith director Emile Du Toit.

Other fiber investments made by Harith include a data center company in Nigeria and a roughly 30% stake in Dark Fibre Africa.

Open Connect is the largest fiber network provider in Malawi, with a network that spans 2,250 kilometers across the country, according to Bloomberg.