A consortium of investors including Africinvest, Amethis, Proparco and the International Finance Corporation (IFC) has acquired a majority stake in Netis, a leading pan-African telecommunication infrastructure service provider.
Founded in 2009, Netis is a major pan-African telecom infrastructure service provider, operating in more than 15 countries and offering a comprehensive range of services -- telecom tower maintenance and infrastructure, fiber optics deployment and connection, supply and installation of power and energy saving solutions -- to a diverse range of clients including mobile network operators, telecom tower companies, fiber optics players, and original equipment manufacturers.
Through its majority acquisition, the consortium aims to take advantage of the fast-growing African installation and maintenance telecom market to support the growth of digital inclusion across the continent. The funding will support Netis to expand in the countries where it currently operates and to enter new markets. The consortium and the co-founders will also focus the company’s impact agenda based on three pillars: female empowerment, environmental responsibility, and development of human resources.
Jean Farhat and Jean-Claude Figali, co-founders and respectively CEO and Deputy CEO said: “Netis has very strong ambitions in the coming years in terms of human, technical and commercial development. Our Vision for building low-carbon Telecom and Energy networks for a competitive Africa is perfectly aligned with that of our new Consortium partners. We are delighted because their support and guidance will be essential to meet the challenges that await us.”
Adnane Zerhouni, Partner at Amethis, said: “Netis is a leading African digital infrastructure services company, and it contributes to the digital development on the continent. We have put in place a strong consortium of investors that will support the management’s ambitious growth strategy. Increased digital connectivity is critical for the continent’s development and we aim to bring our humble contribution to this objective.”
Sarvesh Suri, Regional Industry Director for Infrastructure and Natural Resources in Africa at IFC, said: “Creating digital infrastructure to increase access and lower costs is at the heart of inclusive and sustainable development. Our investment in an innovative company like Netis is aimed at expanding much-needed connectivity across the continent, empowering people and businesses to tap into the growing opportunities of the global digital economy and providing underserved communities with access to essential products and digital services.”
Khalil Lakhoua, Partner and Deputy CIO at Africinvest, said: “We are excited to partner with such an experienced management team with a proven track record and solid organizational framework which is well-equipped to manage a multi-country and multi-business line company. Accompanying Netis as it further expands its offer of services, and grows geographic reach on the continent, AfricInvest looks forward to contributing to the exciting future of this leading company.”
Damien Braud, Head of Private Equity Africa & Middle East, at Proparco, said: “Proparco is very thrilled to collaborate with a visionary partner like Netis, whose leadership and dynamic innovation capabilities have increased digital inclusion across the African continent. With an agile and adaptive approach, Netis' management team has demonstrated prowess in navigating complex landscapes. We are looking forward to supporting the strong impact agenda of Netis.”
The consortium deal teams included Adnane Zerhouni, Omar Naciri and Hicham El Ammari representing Amethis, Khalil Lakhoua, Mohammed Sebti and Hedi Dziri representing Africinvest, Damien Braud, Tibor Asboth, Claire Devey and Marie-Pauline Piquet Gauthier representing Proparco and Christine Kapkusum, Bong Chul Kim and Christian Mulamula representing IFC. The consortium was advised by Asafo&Co (legal advisor), Deloitte (financial and tax advisor), IBIS Consulting (ESG and Impact), and various other consultants on commercial and technical matters.
About Netis:
Founded in 2009, Netis is a major pan-African telecom infrastructure service provider base in more than 15 countries including Morocco, Côte d’Ivoire, Burkina Faso, Ghana, Benin, Togo, Niger, Nigeria, Gabon, DR Congo, Rwanda, Tanzania, Uganda, Kenya, Ethiopia, and Mauritius. It offers a comprehensive range of products and services, from maintenance of telecom towers to fiber optics deployment to installation of power and energy saving solutions.
Source: Africinvest