The Gaia Fibonacci Fibre Reit is backed by Gaia Fund Managers, Fibonacci Managers and Kruger International Asset & Wealth ManagementThe Cape Town Stock Exchange has listed SA’s first specialist fibreoptic real estate investment trust , a move it said would help the country’s efforts to boost access to fast internet needed to power the economy.
The Gaia Fibonacci Fibre Reit is backed by Gaia Fund Managers, together with Fibonacci Managers and Kruger International Asset & Wealth Management, the companies said in a statement on Friday. This is Gaia’s second listing of an infrastructure-related fund on the CTSE, previously known as 4AX, and one of the exchanges that have emerged to challenge the JSE, the biggest bourse in Africa. In October 2020, the fund manager listed preference shares for Gaia Renewables 1 Ltd, which houses investments in renewable energy infrastructure, such as the Tsitsikamma Community Wind Farm near Humansdorp in the Eastern Cape.
The CTSE said in a statement that the listing came at a time when government was calling on private investors to support the large-scale roll out of infrastructure in a bid to boost economic growth, and that fibreoptic cable networks, with their potential to bring the internet to more South Africans and their businesses, fitted with this.
“At CTSE we’re focused on getting capital into the hands of entrepreneurs to create jobs and grow the economy, so the Reit is exactly the sort of entity we want to see succeed. Fibreoptic networks have the potential to change countless lives and businesses for the better,” said Eugene Booysen, the exchange’s CEO.
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