Remgro buys a stake in Vumatel

This in a bid to get in on the action, as SA's broadband network expands rapidly.

Community Investment Ventures Holdings (CIVH), a unit of Remgro, which is owned by South Africa's richest man, Johann Rupert, has bought part of fibre provider Vumatel. 

According to a statement, CIVH took a 35 percent stake in Vumatel, with the understanding that it will take full ownership at a later date.

CIVH currently owns Dark Fibre Africa (DFA), which has a network of 10,000km of fibre. In terms of network size, DFA trails Econet Wireless Global unit Liquid Telecom.

According to CIVH director Peter Uys, the intention is to combine the two businesses.