Metrofibre Networx

About Metrofibre Networx

Metrofibre Networx is a South African carrier-class infrastructure company established in 2010, specializing in the deployment of highly managed fibre optic broadband. The company was founded by Steve Booysen, the former CEO of Absa Bank, along with Malcolm Kirby, Johan van der Lith, and Eugene Slabbert. Booysen, who also provided initial seed capital, brought significant corporate leadership experience to the venture, complementing the entrepreneurial and technical expertise of his co-founders, some of whom were involved in the founding of Dark Fibre Africa. This blend of experience set the stage for the company's growth trajectory.

The business operates on an open-access model, owning and managing its globally compliant Carrier Ethernet 3.0 (CE 3.0) network. This infrastructure serves a diverse client base that includes Internet Service Providers (ISPs), resellers, businesses, and residential consumers. Metrofibre’s revenue is generated by providing connectivity solutions across this network. Initially focused on Fibre-To-The-Business (FTTB) by connecting business parks, the company strategically expanded into the Fibre-To-The-Home (FTTH) market around 2015 to accelerate network monetization. To control its growth, the company also began offering services directly to end-users instead of solely relying on third-party ISPs.

Metrofibre delivers a comprehensive suite of services over a single fibre installation. For business clients, offerings include dedicated internet access, high-speed network connectivity up to 10Gbps, Voice over IP (VoIP), IP transit, and data centre connectivity that enables cloud services. Residential customers can access internet connectivity, VoIP services through the MetroFone App, and Wi-Fi extenders. The company has also developed flexible solutions like prepaid, pay-as-you-go fibre to cater to underserved communities with intermittent connectivity needs.

Significant financial backing has fueled Metrofibre's expansion. An early key investor was Sanlam Private Equity, which acquired a stake in 2013. Over the years, the company has successfully completed multiple funding rounds, attracting major investors like African Rainbow Capital, STOA Infra & Energy, and African Infrastructure Investment Managers (AIIM), which is now the largest single shareholder. These capital raises, including substantial debt financing from institutions like Investec and Standard Bank, have supported an aggressive network rollout, aiming to pass over 500,000 homes by 2025 and pursue strategic acquisitions.