Project Description

This summary covers an application by Meridiam Turf B I S.à.r.l., an investment company managed by Meridiam which is a global developer, investor and asset manager specializing in public and community infrastructure, for MIGA to cover its equity, quasi-equity and shareholder loan investments in Ilitha Telecommunications (Pty) Ltd of South Africa. 

MIGA’s political risk insurance (PRI) has been requested against the risks of Expropriation and War and Civil Disturbance.  MIGA guarantees would be provided in the amount of up to €30.6 million for a period of up to 10 years. 

The project involves the provision of internet services to consumers in townships and other underserved communities in South Africa.

Environmental Categorization 

The Project is a category B project under MIGA’s Policy on Environmental and Social Sustainability. Click here to view the Environmental and Social Review Summary. 

Development Impact  

The Project’s development impact will be driven by key investments in private sector-driven internet service provision in the country. The Project will increase digital connectivity, particularly in underserved areas. The Project also has potential to facilitate the expansion of innovation and competition of the domestic digital market and the wider service delivery of internet services in South Africa.  

The Project is aligned with MIGA’s FY24-26 Strategy and Business Outlook under its strategic focus of inclusion, by increasing digital access to bottom 40% households. The Project is also consistent with the WBG Global Challenge Program for Accelerating Digitalization, which prioritizes WBG (Including MIGA) engagement in developing digital infrastructure and increasing affordable access to digital services in underserved areas.