Disciplined Returns. Transparent Governance.
OpEx structures investments — whether you're deploying new capital or contributing existing infrastructure — for committed returns, board-level involvement and uninterrupted operations, even through asset or executive transitions.
Traditional fibre sells one line to one address, and coverage stops at the wall. Prepaid, per-device access follows the subscriber across the footprint — every home the fibre passes can be served, not only the banked and credit-scored.
Why Prepaid, Per-Device Changes the Investment Case
Fibre in the underserved market doesn't fail on construction cost — it fails on the commercial model. Traditional operators require a bank account, a credit score, a debit order and a contract from households that have none of these, capping take-up on an asset that's already been built and paid for. Prepaid, per-device access removes that barrier entirely: the deployment is the same, but who can be served isn't. Stepping away from the network is dormancy, not churn — the line stays live and ready.
2
Live metros trading in production today
5,500+
Live points already on the network
5 min–1 mo
Package flexibility, per device, zero contracts
97%
Of the underserved segment already buys connectivity this way
The market it multiplies into
20.1m
Households
16.0m
No fixed internet
15.0m
Underserved — underwritten
12.5m
BMIT addressable
8.5m
Irregular-income core
South Africa's established fibre operators size the underserved segment at 12–15 million homes — the same map the incumbents use. Sources: StatsSA GHS 2025 & 2021; ICASA March 2026; BMIT SA Broadband Report 2025.
18–20 mo
Target EBITDA positivity
7–10 yr
Asset holding period
95,000+
Registered subscribers live
5%
Management shareholding option
Rolling DCF Re-underwrites
Stage-gate reforecasts at post-build, predetermined recurring reviews to ensure the investment thesis is continuously validated — not just set at entry. The Investment Committee governs every major decision point.
Board-Level Shareholder Involvement
Investors are invited to board seats with full shareholder participation. InfraCo can take a 5% management shareholding in OpEx for board-level oversight of strategy and management. A risk mitigation mechanism with a structured buyback exit.
Operational Continuity Guarantee
Shared services, AI-driven automation and community staffing prevent cost spirals and ensure network continuity — even during investor transitions or executive changes. The Managing Agent accountability never breaks.
Predictable Cash Flows
Subscription-grade consumer revenue combined with hybrid prepaid/postpaid monetisation across multiple payment rails. Settlement deposits directly to the infrastructure owner's bank account with automated bank reconciliation — cash realised immediately.
Flexible InfraCo Structures
Infrastructure can be arranged across single or multiple entities to facilitate different shareholding groups, mitigate image risk, optimise liquidity events, create barrier-to-entry protection and target performance measures to local conditions.
Government & BEE Alignment
Investment in the emerging FTTH market aligns with government strategy and can potentially draw on support from SOEs and grant funds available through BBI. Social and community impact frameworks create additional stakeholder alignment and network protection.
Bring Your Existing Infrastructure
Already hold optical or equipment assets that aren't earning their keep? Hand over operations to OpEx and keep ownership — we plan, commission, bill and maintain, while settlement flows directly to your account.
Converting to the per-device model takes targeted capital against an asset that already exists — a fraction of a greenfield build, not zero, and not a build from the ground up. Whether it's a dormant site, an under-utilised FNO footprint, or equipment sitting idle between contracts, the same monetisation stack that runs Tembisa and Soweto today can be pointed at what you've already built.