South Africa’s largest telecom operator, Vodacom, has finalised a $672.9 million deal with Maziv, the fibre network operator owned by Johann Rupert’s Remgro, in a landmark transaction aimed at expanding high-speed internet across the country.
The deal, backed by financing from Standard Bank, Africa’s largest lender by assets, will give Vodacom a 30 percent stake in the newly consolidated fibre entity, which includes Dark Fibre Africa and Vumatel. Standard Bank Corporate and Investment Banking advised Maziv and worked closely with Vodacom as co-global coordinator, joint arranger, and funder for the transaction.
Maziv CEO Dietlof Mare highlighted that the investment will accelerate efforts to provide fast and reliable internet to areas historically lacking quality service. “Our purpose is to change lives by connecting South Africans to fast, accessible fibre and bridging the digital divide that limits opportunities for businesses and communities,” Mare said.
The four-year process involved navigating regulatory approvals, including clearance from the Competition Commission in July 2025 and the Independent Communications Authority of South Africa in November. Vodacom executive Kabelo Mokoena noted the partnership supports the company’s ongoing mission to extend connectivity to communities and businesses that have been underserved by high-speed networks.
The Maziv-Vodacom transaction is considered the largest fibre infrastructure deal on the continent. It is expected to expand coverage in townships and rural regions, connecting over 8,000 mobile base stations nationwide and reaching more than 2 million homes and 25,000 commercial buildings.
Standard Bank’s Mulalo Takaedza said the funding package reflects the lender’s commitment to supporting long-term national infrastructure, while Grant Tidbury, the bank’s head of M&A advisory, described the deal as a major step toward closing South Africa’s digital connectivity gap. A 2025 ICASA report shows that while 72.6 percent of South Africans access the internet via mobile devices, only 14.5 percent have fixed connections at home.
Remgro, chaired by Johann Rupert, has built a diverse investment portfolio since its founding in the 1940s by Anton Rupert. Telecoms have become a central pillar of the group’s strategy. The Maziv platform is expected to reinforce fibre rollout, support small businesses, and position the company as South Africa’s leading open-access fibre network operator.
The deal represents one of the largest fibre investments in South African history, cementing Maziv’s role in closing the country’s digital divide and extending quality connectivity to previously underserved areas.
