Vumatel concludes finance deal with Standard Bank

Fibre broadband provider Vumatel has concluded a finance deal with Standard Bank that will see the company ramp up delivery and expand into new markets in South Africa. The deal, likely to be one of the largest debt capital raising-based deals of its kind in the fibre-to-household industry to date, is the latest chapter in the Vumatel success story.

The agreement with Vumatel sees Standard Bank becoming the lead financier of the company's bid to exponentially expand its business base. The deal was structured through Standard Bank's business acquisition team, which concentrates on debt focused financing for top-line commercial clients.