Liquid is the leading pan-African provider of wholesale voice, wholesale data, and internet protocol (IP) services, and an existing IFC client, and provides internet services across the African continent and in particular across various provinces in South Africa.

The Project is expected to cost approximately ZAR 1.45 billion (approximately US$82 million) and will be financed through a combination of senior debt to be incurred by the Company and internally generated funds from the Sponsor.To support the Project, IFC intends to invest up to ZAR 900 million (or its equivalent in US$)  consisting of (i)  a Loan in the amount of up to ZAR 450 million (or its equivalent in US$); and (ii) financing in the form of (a) an MCPP Trust Loan and/or a B2 Loan in the amount of up to ZAR 450 million (or its equivalent in US$); or (b) alternatively, a Parallel Loan of up to ZAR 450 million.

   The project will be based in South Africa.                                                

 This proposed investment is expected to have limited E&S impacts, which are expected to be short-term and site-specific, and none is expected to be significant. Those impacts can be avoided or mitigated by adhering to recognized procedures, guidelines and design criteria as described in the following sections. Thus, this is a Category B project in accordance with IFC’s Policy on Environmental and Social Sustainability.

The key E&S issues associated with this investment include: i) adequacy of Liquid’s E&S management system (ESMS); ii) fair, safe and healthy working conditions for project contractors’ workers, including, harassment and gender-based violence; (iii) community health and safety, especially related to cable route excavations and road traffic; and iv) engagement with key stakeholders including local communities within the project area.