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Wednesday, September 20, 2006

Swift Networks secures funds, deploys WiMax in Lagos

Remmy Nweke

SWift Networks Limited has secured funding from the Capital Alliance Private Equity (CAPE) for the deployment of a citywide WiMAX in Lagos.

This development is coming as the firm has announced the appointment of Dick Kramer as its chairman, Board of Directors.The funding came from the International Finance Corporation (IFC), European Investment Bank, Commonwealth Development Corporation (CDC) and The Netherlands Development Finance company (FMO).

Chief executive, Swift Networks Limited, Mr. Charles Anudu, said that his firm, known for a high-speed Wireless Broadband Access services provider, has concluded the transaction with CAPE II, the private equity fund managed by the African Capital Alliance (ACA), to accelerate the rollout of a portable, plug-and-play WiMAX-class broadband access network based on the WiMAX (IEEE 802.16e) standard.

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