37790
CSQUARED LINK HOLDINGS (MAURITIUS) LTD
Jun 7, 2017
Africa Region
Africa
Feb 27, 2025
B - Limited
Active
Approved : Mar 9, 2017
Signed : May 12, 2017
Invested : Oct 19, 2017
Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)
other
CTTTT - TMT, Venture Capital & Funds/Telecom, Media & Technology
The project is for a new company, CSquared Link Holdings (Mauritius) Limited (“CSquared” or the “Company”), to be formed as a partnership between IFC, Google Inc., Mitsui & Co., Ltd., and Convergence Partners Communication Infrastructure Fund (each, an “Investor”) to build metro fiber networks in Sub Saharan Africa (“SSA”) (the “Project”) to create shared infrastructure for broadband operators.
Google will contribute seven companies to the Company in in exchange for cash and equity in the Company: CSquared Ghana, CSquared Uganda, CSquared (Uganda) Holdings, CSquared DRC, RDC Connect, Moja Access (Kenya), and CSquared Liberia, two of which have been actively operating on the ground in Africa – CSquared Ghana and CSquared Uganda have implemented fiber-optic network projects in Kampala and Entebbe in Uganda with 800 total kilometers of underground fiber, and in Accra, Ghana with 840 total kilometers of underground fiber. CSquared will utilize lessons of experience from those existing operations, and will establish new subsidiaries in each new country to which it expands.
The Project will initially involve the development of the existing operations in Uganda and Ghana with the goal of expanding into new markets in Sub-Saharan Africa. During this initial phase, IFC will provide an initial equity investment of US$15 million. CSquared will then serve as a platform to expand into new markets with additional investments in the Sub-Saharan Africa region in the future. Additional markets in Sub-Saharan Africa are expected to be determined based on further review and approval by the Partners. Warehouse services will be provided by third parties; equipment will be located with other companies’ equipment in leased spaces; office spaces will be leased.
The review of this proposed investment in the Company consisted of a visit by IFC staff to CSquared Uganda in January 2016 to meet with and interview management. IFC staff also appraised environmental and social (“E&S”) and technical information submitted by CSquared Ghana and CSquared Uganda, including environmental assessment reports for deployment of fiber cable in Accra (Ghana), Kampala (Uganda), and Entebbe (Uganda); a business plan for CSquared; CSquared Ghana and CSquared Uganda’s codes of conduct; and CSquared Ghana and CSquared Uganda’s environmental, health and safety policies and procedures