Standard Bank, Africa’s largest bank by assets, has announced the successful financial close of a landmark R11.5 billion transaction that will see Vodacom acquire a 30% stake in Maziv, the parent company of Dark Fibre Africa and Vumatel. The deal consolidates these operations into a single fibre-providing entity and marks the largest fibre transaction ever completed on the African continent.
Standard Bank Corporate and Investment Banking (CIB) played a pivotal role throughout the process. Initially appointed by Maziv as an advisor on the proposed investment, the bank was later selected by Vodacom as co-global coordinator, joint arranger, and joint funder, underscoring the depth of its expertise in structuring complex telecommunications transactions.
Maziv CEO Dietlof Mare emphasised the transformative potential of the partnership, noting the shared commitment to expanding affordable fibre access. “Our purpose is to change lives by connecting South Africans to fast, accessible fibre and to bridge the digital divide that limits opportunities for businesses and communities, particularly those in underserved areas. We are proud to have partnered with Standard Bank as M&A advisors on this landmark transaction that allows us to accelerate our mission in empowering people and unlocking the potential of our country through connectivity,” he said.
The acquisition follows a rigorous four-year process, during which the transaction had to clear major regulatory approvals. The Competition Commission granted consent in July 2025, with the Independent Communications Authority of South Africa (ICASA) issuing final certification in November 2025.
Vodacom Group Executive Kabelo Mokoena noted that the partnership aligns with the company’s broader ambition to expand high-quality digital infrastructure. “At Vodacom, our purpose is to connect for a better future, and that includes investing in infrastructure that gives more people and businesses access to quality connectivity where they live and work. We’re excited to partner with Standard Bank, who share our passion for supporting South Africa’s growth and creating real opportunities for communities,” he said.
The transaction is expected to play a significant role in narrowing South Africa’s digital divide. Although the ICASA 2025 State of the ICT Sector report shows that 72.6% of South Africans rely primarily on mobile internet access, only 14.5% have fixed-line internet at home—highlighting the need for expanded fibre infrastructure. The capital injection from Vodacom will accelerate broader fibre deployment, particularly in rural and township areas.
Maziv has committed to connecting more than 8,000 mobile base stations across the country. The entity already provides fibre to over 2 million homes and more than 25,000 commercial buildings, with further expansion now expected to accelerate.
Standard Bank executives hailed the deal as central to the bank’s mandate to drive inclusive growth. “This acquisition speaks directly to our purpose—to drive Africa’s growth,” said Kumbirai Gundani, Head of Telecommunications, Media and Technology at Standard Bank CIB.
//Staff writer
