Rakiza acquires stake in Oman Broadband

Rakiza and ITHCA group are pleased to announce the financial closing of Rakiza’s acquisition of 39% equity in Oman Broadband Company SAOC (“Oman Broadband”). Oman Broadband is the largest fibre broadband infrastructure provider in Oman.

Oman Broadband owns, operates, and maintains passive broadband infrastructure, providing wholesale services to major internet service providers in Oman. The company operates the largest fibre network in Oman and is committed to further expanding and improving the network infrastructure, giving the population access to high speed and reliable broadband internet connectivity both in urban and rural parts of the country.

Rakiza, a private equity infrastructure fund independently co-managed by regulated independent fund manager Oman Infrastructure Investment Management (OIM) and UK-headquartered investor, developer, and fund manager Equitix, is committed to investing across a range of infrastructure assets in Oman and the Kingdom of Saudi Arabia.

“We are pleased to complete our investment in Oman Broadband and to partner with ITHCA in achieving Oman Broadband’s important mandate under the national broadband strategy. Rakiza is well placed to leverage its expertise to support the expansion of fibre networks in Oman and the Sultanate’s vision of ensuring world-class digital connectivity across the country” – Muneer Al-Muneeri, OIM CEO.

ITHCA Group (formally Oman Information and Communications Technology Group) was established in 2019 with a key aim of enhancing Oman’s digital capabilities and infrastructure in line with Oman Vision 2040 and the strategy of the Ministry of Technology and Communications.

“We are delighted to confirm our partial sale of Oman Broadband and to welcome our esteemed partner, Rakiza. The sale aligns with our overall strategy on co-investment and, given Rakiza’s pool of regional and international investors, represents further foreign direct investment in Oman’s ICT infrastructure. This transaction will help to foster collaboration to add value to Oman Broadband’s initiatives and will help ITHCA to continue investing in the rapidly emerging technology sector, positively impacting GDP and jobs growth in Oman.” – Said Al Mandhari, ITHCA Group CEO.

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For media enquiries please contact
Amjad Aljadidi, Senior Operations Officer, Oman Infrastructure Investment Management
Amjad.J@rakizafund.com

About Rakiza
Rakiza is co-managed by Oman Infrastructure Investment Management (OIM), a specialist infrastructure manager based in Oman, and Equitix, a leading investor, developer, and fund manager of core infrastructure assets in the UK, Europe, US and the Middle East. The managers have joined forces to establish a Fund that will invest in public private partnership (PPP) and other core infrastructure projects in Oman and Saudi Arabia. Rakiza Fund’s strategy is to capitalize on the drive towards privatization and foreign direct investment (FDI) across the region, where first mover investors, with access to opportunities, are generally able to achieve higher returns.

About OIM
Oman Infrastructure Investment Management (OIM) is a specialist, active infrastructure manager. OIM’s core strengths comprise of a seasoned team of professionals with extensive market knowledge and network in Oman and the region, and a proven track record of investments in the infrastructure space.

About Equitix
Founded in 2007 and headquartered in London, Equitix is a leading infrastructure investment firm that manages c. $12 billion on behalf of long-term investors, including a large proportion of UK pension funds. It manages six core infrastructure flagship funds, numerous co-investment vehicles which are dedicated to larger infrastructure projects, and a number of segregated managed accounts providing customized solutions. Its investment strategy focuses on core infrastructure projects, predominantly located in the UK and Europe, and covering a wide range of sectors with a particular focus on social infrastructure, transportation, regulated utilities and renewables. Across all of its core funds, Equitix seeks to hold assets for the life of the fund, which is typically 25 years. Equitix has acquired over 360 core infrastructure projects since its inception, thereby establishing a strong reputation as a trusted partner, operator and fiduciary fund manager.

Disclaimer
This press release may contain forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties that could cause actual events or results to differ materially from those anticipated by such statements. Rakiza and its affiliate companies do not make any representation or warranty, express or implied, and assume no liability whatsoever as to the accuracy, completeness, or updated status of such statements.