Octotel nets R2bn in financing

Octotel, one of SA’s largest fibre players, has secured R2bn in financing from RMB to push its network rollout. This is yet another sign of the increasing appetite of local banks to get in on SA’s fibre game. Octotel, which primarily provides fibre in the Western Cape, said the facility provided by FirstRand’s investment banking unit will assist with its journey “to double the size of the network over the next three to five years”.