MetroFibre has made leadership changes as the company steps up its fibre war.
In a statement yesterday, the company said Dr Steve Booysen will hand over the CEO reins to Jan-Jan Bezuidenhout, current deputy CEO of MetroFibre, effective from 1 June.
According to the fibre operator, Booysen will step down as CEO and director of MetroFibre on 31 May, and will continue to provide support on a consultancy basis to the executive leadership team until the end of August.
The announcement comes a week after MetroFibre announced a major overhaul of its fibre-to-the-home (FTTH) speed packages, in efforts to make it one of the most competitive available in the market.
Last week, the open access fibre network operator announced it is upgrading and doubling up line speeds on all its FTTH fibre packages at no additional cost, and also introducing a new entry-level 20Mbps package, a 500Mbps and 1Gbps package for intensive users.
The overhaul is part of MetroFibre’s drive to make fibre internet access as ubiquitous and accessible as possible for South Africans.
The product adjustments will be effective from 1 May and rolled out over a two-week period.
Launched in 2010, MetroFibre ranks among the top four fibre network operators in SA in terms of number of homes passed, with its open-access network currently passing over 330 000 homes in five provinces.
The diversified fibre network operator aims to densify its existing networks to reach an additional 150 000 residential homes across the country in 2022, and over 300 000 additional by 2024.
In June last year, African Infrastructure Investment Managers (AIIM), along with a consortium comprising South African Housing & Infrastructure Fund (SAHIF), through its Digital Infrastructure Consortium platform and STOA, a foreign investment vehicle based in France, agreed to acquire a 25.8% interest in MetroFibre held by Sanlam Private Equity, African Rainbow Capital and a minority shareholder.
This transaction followed the R1.5 billion equity funding round concluded in December 2020 by AIIM, SAHIF and STOA, in order to support MetroFibre’s R3 billion capital expansion plan over the next three years.
On his departure, Booysen says: “It’s been an incredible 12-year journey as a founder member and provider of seed capital back in 2010, when we founded MetroFibre. I’m extremely proud of what we have achieved, and excited at what is still to come for the business. I would like to express a special thanks to my co-founders – Malcolm Kirby, Johan van der Lith and Eugene Slabbert – whose entrepreneurial spirit and business acumen were fundamental to the phenomenal growth of our business.
“I am especially proud to be able to hand over the reins to Jan-Jan, who is an accomplished and respected leader within our business, with a deep understanding of the market and exceptional strategic capabilities.
“Jan-Jan was appointed deputy CEO in 2019 with a clear succession plan mapped out, and I am confident that under his leadership and with the support of a phenomenal team of colleagues and exco, MetroFibre will continue to thrive,” he says.
The fibre network operator says Bezuidenhout takes over the reins as CEO at a time when MetroFibre is poised for rapid growth in one of the most competitive industries in the country.
It notes he brings vast experience and strategic focus to the table, having represented the lead institutional shareholder on the MetroFibre board from 2013 to 2019, before being appointed as deputy CEO of the business.
“Since my involvement in 2013, MetroFibre has transformed from a gritty start-up with less than 20 employees, to the trusted and professional corporate business that it is today. It is an honour to take over the leadership of our business and exceptional team, and I look forward to our exciting journey ahead,” comments Bezuidenhout.
Prior to joining MetroFibre, Bezuidenhout spent more than a decade focusing on private equity, infrastructure investments and corporate development at leading financial institutions, says the company.
He holds BCom and LLB degrees from Stellenbosch University and completed a Post-Graduate Course in Philosophy, Management and Strategy, Corporate Finance and Competition Law at the London School of Economics.
Share