Eos-managed Namibia Infrastructure Development and Investment Fund (NIDIF) has acquired a minority stake in Lightstruck Holdings to develop the first ever open access fibre network in the country.
The investment will combine equity and preference shares and aims to revolutionise the country’s digital infrastructure.
The funding will support the expansion of last-mile fibre infrastructure into towns and communities that were previously underserved.
The move is said to align with the broader mission of NIDIF, which targets infrastructure projects in Namibia, focusing on sectors such as energy, water, ICT, transport and logistics, healthcare, and education.
“This will be the first-ever open access fibre network in Namibia, creating inclusion for players in the ICT sector and closing the gap in the digital divide. Finding partnerships to achieve this is essential, and we value joining the mission with Lightstruck Holdings,” said Eos’ Chief Investment Officer, Frederico Van Wyk.
Lightstruck Holdings is a joint venture between Lightstruck South Africa and Africa Merchant Capital Holdings and specialises in deploying last-mile fibre networks.
“We install and maintain fibre as a next-generation digital utility service,” Coenraad Krige, Director of Lightstruck, said, highlighting the significance of the partnership with Eos Capital.
According to the CEO of Africa Merchant Capital, Cobus Visagie, the goal is to offer customers a blend of excellent service and a product lineup that caters to the modern and expanding internet needs of both businesses and homeowners.
“As a Namibian company, we take pride in collaborating with Eos Capital to provide fast-speed fiber to home and business owners in Namibia,” he said.
Eos Capital is a Namibian private equity firm with over N$1 billion in assets under management. Eos Capital manages the Allegrow private equity fund, Euphrates Agri fund and NIDIF.
NIDIF targets infrastructure projects in Namibia through equity funding to generate long-term, stable, and robust income yields and capital growth for its investors. The fund’s main target sectors include energy, water, ICT, transport and logistics, healthcare, and education.
