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STANLIB and New GX combine to accelerate township fibre roll-out through a R4.4bn investment platform

STANLIB Asset Management, one of the largest investors in South African infrastructure, has joined forces with New GX Investments (New GX), a black-owned and managed company, to create a long-term capital digital infrastructure platform that will invest in fibre, towers and data centre infrastructure.

STANLIB investment in New GX

STANLIB has invested over R2.4 billion in the Pitje-family-controlled company, New GX, to accelerate the roll-out of digital access across the country.


The parties intend to raise a further R7 billion of capital to create a R12 billion digital infrastructure platform. It will take advantage of growth and investment opportunities across multiple digital infrastructure asset classes and geographies, with particular emphasis on improving connectivity in underserved townships in SA and selected other African countries.


Infrastructure Investments’ Principal at STANLIB, Andy Louw, said, “Our team is excited about the partnership with New GX in creating this investment platform. It will assist in rolling out and upgrading SA’s digital infrastructure, especially in townships, where it will have a tangible and sustainable impact upon many South Africans. Given our track record and the pipeline of opportunities that we have, we are confident that we will raise a further R7 billion of capital from South African and international investors in infrastructure, impact and ESG.”


“This powerful partnership and investment platform prove that ESG infrastructure projects not only reinvigorate the economy and create jobs but also have a multiplier effect upon the greater economy. We are providing real benefits to communities while delivering long-term attractive returns to investors. We are proud to be in a position to raise and diligently deploy capital in areas where it is most needed in SA,” Louw said.


Khudusela Pitje, CEO of New GX, said, “We are already seeing how access to uncapped affordable data improves lives and empowers people within townships. Education and SMMEs are some of the areas that are being positively impacted by our investment. So far, we estimate the market potential is close to three million homes in townships. This is only the beginning, as more people will be positively impacted by the bridging of the digital divide that was previously limited to the cities.  


“We are grateful to STANLIB for the investment in our business and for their long-term commitment to our shared vision,” Pitje said. “With our combined experience, expertise and shared values of inclusive growth, I am confident that we will add considerable value to communities, and that together we will ensure our continued sustainable growth.”


New GX has operated in the digital telecommunications infrastructure sector for over 16 years through its co-controlling investment in CIVH, which manages brands such as DFA and Vumatel.

CIVH’s subsidiary, DFA, owns fibre networks across South Africa with fibre assets in excess of 13 000km and over 35 000 connected circuits, which it leases to telecommunication companies and internet service providers (ISPs).


Vumatel is an open-access fibre provider for the last mile, providing fibre-to-the-home (FTTH) products and services to ISPs. Vumatel installs FTTH in residential suburbs and now townships. It has in excess of 27 500km of fibre assets and has connected over 1 million homes.



STANLIB is a specialist investment manager, managing and administering over R652 billion, offering depth of expertise across a wide range of investment disciplines, spanning active and passive management with single and multi-manager offerings.


STANLIB’s Infrastructure Investment team offers compelling investment opportunities to invest across a range of infrastructure development projects, focusing mainly on the power, renewable energy, rail roads, airports, water and telecommunication sectors, through a private equity vehicle.


About New GX

New GX Capital is a 100% black-owned and managed investment holding company (owned by indigenous investors), founded in 2005 by former JP Morgan banker, Khudusela Pitje. New GX is a diversified business focused on utilities infrastructure and the technology sector. As a co-founding partner of DFA in 2007, New GX has led the transformation of the telecoms sector to benefit South African manufacturing and SMMEs.


New GX is also a proud supporter of the HM Pitje Foundation, whose CSI strategy is to transform township schools and empower/educate scholars for the future.

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