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    Hellkom > News > Local > iBurst broadens broadband

iBurst broadens broadband

1 March 2007
 
The Development Bank of Southern Africa (DBSA) has agreed to invest R50 million to support local broadband service provider iBurst's nationwide network expansion, the finance institution said on Monday.

Simon McGill, DBSA's principal investment officer on the project, said: "DBSA has a mandate to advance economic growth and regional economic integration and it considers ICT development as a key enabler of this goal.

ďAs such, DBSA is delighted to help facilitate iBurst's network expansion throughout South Africa."

He said the fact that iBurst was a black-owned enterprise put DBSA's investment in the project in line with its own mandate to drive broad-based black economic empowerment (BEE), particularly in the ICT sector where transformation has been sluggish.

According to McGill, DBSA will fund half of the total capital expenditure of R100 million that has been earmarked for infrastructure expansion. Investec will fund the other half.

He explained that iBurst already ha ...

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