MetroFibre Networx: Story, Founders, Investors & Funding Rounds
Established in 2010, MetroFibre Networx is a South African-owned and managed open-access fibre network and broadband fibre provider with its Head office based in Gauteng.
Now operating nationally, MetroFibre owns and manages South Africa’s first globally compliant Carrier Ethernet 3.0 (CE 3.0) open access fibre network, over which it connects businesses and individuals to the internet, cloud, data centers, voice, and Internet Service Providers with their customers.
The company enjoys active shareholding and board representation from Sanlam Private Equity (SPE), African Rainbow Capital (ARC), STOA Infra & Energy, management, and other minority shareholders.
In 2020 Metro welcomed African Infrastructure Investment Managers (AIIM) and SAHIF to the table to further grow MetroFibre’s fibre network and empowerment capabilities.
MetroFibre Networx is a MEF Forum member, a member of Digital Council Africa, and is licensed by the Independent Communications Authority of South Africa (ICASA) to provide electronic communications services as well as electronic communications network services
MetroFibre Networx is a carrier-class Ethernet (CE 3.0) infrastructure company that today provides highly managed fibre optic broadband connectivity in South Africa.
Their customers are made up of Internet Service Providers (ISPs), resellers, and residential and business properties, and consumers can take advantage of an array of services to meet their needs.
The MetroFibre services to businesses include Dedicated Internet Access, High-Speed Broadband Network Connectivity, Voice Over IP, IP transit, Layer 2 services, Data centre connectivity, enabling cloud connectivity and all of which are delivered on the back of a single MetroFibre Networx fibre Installation.
Residential consumer services include Internet connectivity, VoIP and MetroFone App, MetroMesh Wi-Fi extender, and Metro-I solution available for Estates and complexes.
Additionally, their ability to connect to a host of world-class providers, provide broadband services, as well deliver data and applications across the cloud – all on the same fibre installation, enables their customers to choose, match and integrate the right connectivity solution for their business – at a cost that they can afford.
How it Works
Fibre To The Home
Internet connectivity in South Africa is in high demand, and there is high competition for providers to provide fibre-optic connectivity for both consumers and enterprises.
MetroFibre Networx ranks among the top three fibre network operators in South Africa with its open-access network currently passing over 350 000 homes in six provinces.
MetroFibre also leverages an open access fibre network to provide a reliable, quality fibre internet connectivity service for consumers at home, with benefits including month-to-month packages, symmetrical upload and download speeds, a 30-day cancellation period, and a focus on customer service excellence.
Steve Booysen is the Executive Chairman and Chief Executive Officer at Metrofibre Networx.
He is a non-executive director of various listed companies such as Efficient Group Ltd, Steinhoff Ltd, Clover Ltd, Senwes Group Ltd, and Vukile Properties Ltd.
Steve Booysen is the former Group Chief Executive of Absa Group and is a council member at the University of Pretoria.
Malcolm Kirby is the CEO and co-founder at Metrofibre Networx.
He is a senior management professional with an entrepreneurial mindset and always hunting for new opportunities to build sustainable long-term business relationships.
He has worked within corporations as an employee at all levels, as an entrepreneur dealing with board members, as a peer, customer board member, and shareholder.
Malcolm’s career has given him significant experience as a board-level employee, and shareholder, contributing to and controlling strategic business planning & management, expense management and operational reporting, market analysis, marketing and sales, and organisational development.
This experience has also given him a special insight into the opportunities for growing new operations and technologies.
Additionally, Malcolm has developed numerous marketing, sales, and product strategies and successfully taken them to market.
In doing so he had to find like-minded individuals to build reliable and aligned sales and marketing teams to address the respective opportunities. He publicly launched the companies that he assisted in founding, doing roadshows and presentations to the public, target markets, investors, and interested parties, nationally and internationally.
Investors & Funding Rounds
Africa Infrastructure Investment Managers (AIIM), STOA, SAHIF partner, Sanlam Private Equity, African Rainbow Capital
MetroFibre Networx has secured R5 billion (~$297 million) in debt financing from Standard Bank to expand its fibre-optic data network rollout across the country.
The financing, according to Standard Bank, will be used to expand MetroFibre’s connectivity into homes and businesses in under-serviced communities across the country and is set to contribute to increase reach by an additional 500,000 households across South Africa by 2025.
MetroFibre Networx has also raised R1.5-billion in a new funding round led by infrastructure-focused private equity fund manager African Infrastructure Investment Managers (AIIM).
The deal gives AIIM, which is investing R980 million, a minority stake in MetroFibre Networx, the quantum of which was not disclosed.
The investment was made through the newly incorporated Digital Infrastructure Investment Holdings.
AIIM is a member of Old Mutual Alternative Investments and has been investing in the African infrastructure sector since 2000. Its investment, through its Ideas, Managed and AIIF3 Funds will support MetroFibre’s plans to densify its network in existing areas and expand its offering to an additional 300 000 residential homes across cities and towns nationwide.
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