Harith Invests US$24.1 Million in Open Connect (Sub-Saharan Africa)

Source(s): Harith General Partners

Africa-focused infrastructure fund manager Harith General Partners has invested US$24.1 million in Malawi-based fiber optic cable network operator Open Connect (OCL) through Pan African Infrastructure Development Fund 2. Through the transaction, Harith will acquire a 60 percent stake in the company, with the remaining 40 percent held by the Malawian government, Malawi- and U.K.-listed holding company Press Corporation and other Africa-based companies including Old Mutual, NICO Holdings and Investments Alliance. OCL provides fiber optic network services to mobile operators, internet service providers and terrestrial television providers in Malawi, Mozambique and Tanzania.