Discover how Nedbank Corporate and Investment Banking's (CIB's) strategic equity investment empowers digital inclusion by supporting Actis' majority acquisition of Swiftnet – South Africa's fourth-largest independent tower company.

In a defining moment for South Africa's digital infrastructure evolution, Nedbank CIB has concluded an equity investment into the Actis Ohio en commandite partnership, enabling Actis' acquisition of a 70% stake in Swiftnet SOC Limited from Telkom SA SOC Limited.

The R6.75 billion transaction, led by a consortium that includes Actis, Royal Bafokeng Holdings (RBH), and the Mineworkers Investment Company (MIC), represents a strategic equity investment in the digital infrastructure space, positioning Nedbank CIB at the forefront of South Africa's digital transformation.

'This transaction reflects our appetite, growing equity capabilities, and our ability to deliver efficient, strategic solutions in a competitive market.' – Gareth Mc Elhone, Head of Alternative Equity at Nedbank CIB.

Enabling strategic infrastructure: Why Swiftnet matters

Swiftnet owns over 4 000 telecom tower sites, with about 2 900 core productive locations across South Africa, particularly in rural and underserved areas. This infrastructure supports vital mobile network transitions, from 3G and 4G to next-generation 5G connectivity.

'Swiftnet plays a pivotal role in enabling sustainable digital access. Our investment directly supports this mission by accelerating the 5G roll-out and bridging the digital divide.' – Ntsapokazi Cossie, Principal of Alternative Equity at Nedbank CIB.

Fast, flexible, and strategic: A first-of-its-kind deal

What sets this deal apart is its speed and precision. Nedbank CIB capitalised on a long-standing relationship with Actis to deliver an efficient solution, reinforcing its long-term strategic mindset.

'This is a strategic equity investment in the digital infrastructure sector – a strong signal of our growing equity appetite for private equity sponsors as well as our long-term partnership mindset.' – Gareth Mc Elhone, Head of Alternative Equity at Nedbank CIB.

The power of partnership: Backing global infrastructure leaders

Actis, now operating as the sustainable infrastructure arm of General Atlantic, is a global investor with over US$25 billion raised since inception and more than US$3.5 billion in digital infrastructure assets. Its successful investment and subsequent realisation of Octotel, and this new venture with Swiftnet, underscore its role in expanding Africa's digital backbone.

'It is terrific to have completed the acquisition of Swiftnet, which we aim to enhance further as a leading independent tower company in South Africa.' – David Cooke, Partner at Actis.

Broad-based impact: Economic growth through digital infrastructure

Swiftnet's infrastructure will enable financial inclusion, education, commerce, and healthcare access across underserved regions. Actis' partnership with 100% black-owned co-investors (RBH and MIC) highlights the deal's alignment with inclusive growth.

'We are proud to help fuel a transaction that enhances South Africa's digital economy and creates broad-based value for communities and investors alike.' – Brad Webber, Head of Investment Banking Origination at Nedbank CIB.

A groundbreaking digital infrastructure platform

The acquisition of Swiftnet marks a major milestone in Actis' growing African digital infrastructure portfolio. By partnering with local champions like RBH and MIC, Actis aims to build platforms with long-term value and developmental impact. Swiftnet is expected to significantly enhance rural and peri-urban network density and empower mobile operators to meet surging internet demand.

'We are excited to back a platform essential to South Africa's digital future. Our goal is to build a leading independent tower company in the country and a benchmark for reliability and reach.' – David Cooke, Partner at Actis.

Digital infrastructure: The next frontier for Nedbank CIB

The Swiftnet transaction exemplifies Nedbank CIB's growing appetite as an equity investor. The institution is rapidly emerging as a strategic player in alternative equity, with a growing appetite for scalable, impactful assets. Digital infrastructure is increasingly viewed as a foundational enabler of economic transformation, and Nedbank CIB plans to play a pivotal role.

'This is about more than just returns; it's about reshaping how we think of connectivity as an engine of opportunity and development.' – Ntsapokazi Cossie, Principal of Alternative Equity at Nedbank CIB.

Outlook: Scaling impact beyond towers

With Swiftnet serving as a strategic beachhead, Nedbank CIB and its partners are evaluating further opportunities in fibre networks and data centres across the continent. These adjacent sectors offer strong synergies and will be key to enabling Africa's digital transition in the coming decade.

Conclusion: Championing digital transformation through strategic equity

Nedbank CIB's partnership with Actis is a testament to its commitment to digital inclusion, strategic growth, and economic transformation through infrastructure. With the right partnerships, the bank is positioned as a catalyst for progress across Africa.