Ogi, a leading alternative telecoms provider, has secured a £45m loan from Cardiff Capital Region, supporting its growth strategy.
- The funding will expand Ogi’s full fibre network across ten local authority areas in the region.
- This marks the Cardiff Capital Region’s largest loan, leveraging its £1.2bn City Deal investments.
- Ogi aims to provide extensive connectivity to underserved communities, enhancing economic prospects in the area.
- Strategic partnerships and additional investments are set to drive substantial regional development.
Ogi, a prominent name in alternative telecoms, has successfully secured a £45 million funding deal from the Cardiff Capital Region (CCR). This significant investment is intended to bolster Ogi’s expansion plans, particularly enhancing its full fibre network across ten local authority areas in the region, including Cardiff, Blaenau Gwent, and Rhondda Cynon Taf.
This financial backing, which represents the largest loan the CCR has ever extended, taps into its nearly fully invested £1.2 billion City Deal. The CCR’s approach aims to create a sustainable cycle of reinvestment through prudent borrowing, capital, and interest recovery.
Ogi’s strategic initiative will see the deployment of high-capacity networks servicing South Wales and extending into England. This infrastructure is designed to meet the rising demands for cloud computing, artificial intelligence, and data storage, thereby increasing the region’s attractiveness to datacentre operators and mobile carriers.
Ben Allwright, Chief Executive of Ogi, expressed his vision: ‘Our ambition remains to establish ourselves as a leading Welsh telecoms company, fostering connectivity across communities.’ With strategic locations such as Aberthaw and the valleys, Ogi’s expansion is poised for significant impact across the capital region.
The CCR’s support affirms Ogi’s commitment to technological progress and regional regeneration, with its projects promising long-term economic benefits estimated at five times the initial investments. This commitment is a testament to Ogi’s dedication to ensuring Welsh communities are on par with their UK counterparts.
Alongside the CCR funding, Ogi has secured further equity injection from its majority shareholder, Infracapital, reinforcing its strategic growth trajectory. The collaboration between the CCR and Ogi underscores a shared vision for regional advancement and connectivity.
Councillor Mary Ann Brocklesby, Chair of the CCR, highlighted Ogi’s transformative role, stating: ‘Ogi’s investment in network development is ushering in new opportunities across the Cardiff Capital Region.’
Ogi, advised by Deloitte and CMS Law in its recent transactions, remains focused on extending its services beyond the CCR, with plans for continued engagement in areas such as Pembrokeshire.
Ogi’s £45m funding from Cardiff Capital Region marks a pivotal step in advancing connectivity and economic growth across the region.
