Actis to acquire Swiftnet for $355m.

Actis, a global investor in sustainable infrastructure, agreed to acquire Swiftnet, a telecom tower portfolio in South Africa, for $355m. Swiftnet represents a strategic acquisition for Actis which will see it acquire over 4k sites across the country. The platform is underpinned by a strong relationship with Telkom and other existing anchor tenants, and long-term contractual revenue. The deal allows Actis to invest in a growing sector, with strong secular tailwinds and an increasing need for tower densification driven by increasing internet penetration and the transitions from 3G and 4G to 5G.