Ogi, a leading alternative telecoms provider in Wales, has secured £45 million in funding from the Cardiff Capital Region to aid its expansion efforts, marking a significant milestone in Welsh telecom infrastructure.
- The investment comes from the nearly fully invested £1.2 billion City Deal, highlighting its importance in the region’s economic strategy.
- Ogi’s ambitious plan targets expanding the fibre network across ten local authorities within the Cardiff Capital Region.
- The financing represents the largest loan issued to date by the Cardiff Capital Region.
- Ogi’s continued growth aims to uplift connectivity and bolster economic prospects, supported by additional investment from main shareholder, Infracapital.
Ogi has achieved a significant milestone by securing a £45 million funding injection from the Cardiff Capital Region (CCR), demonstrating its pivotal role in advancing Wales’ telecommunications landscape. The funding, derived from the CCR’s nearly fully allocated £1.2 billion City Deal, underlines the prominence of telecommunications projects in regional economic development plans.
Ogi’s strategic expansion focuses on extending its full fibre network across ten local authorities in the region, including Cardiff, Blaenau Gwent, and Bridgend. This expansion is poised to enhance digital infrastructure significantly, opening avenues for cloud computing, AI applications, and increased data storage capabilities. Such advancements position Wales as a desirable location for datacentres and technology operators.
The loan marks a notable achievement as the largest financial support extended by the Cardiff Capital Region thus far. Although specific terms of repayment and interest rates are undisclosed, the loan’s scale is unparalleled, emphasizing the strategic trust and economic ambitions vested in Ogi’s plans.
In parallel to the CCR funding, Ogi benefits from continued investment from its principal shareholder, Infracapital, strengthening its capacity to deliver cutting-edge fibre networks. Since its inception in 2021, Ogi has laid a robust network infrastructure to over 100,000 premises in South Wales, with a commendable uptake of one in five as customers.
Ogi’s commitment is further amplified by its ‘full fibre’ communities initiative, bringing significant economic value estimated at nearly £5 for every £1 invested. This ongoing mission is captured in the words of Ben Allwright, Ogi’s Chief Executive, who expressed profound pride in the company’s mission to ensure no Welsh community is left behind.
Councillor Mary Ann Brocklesby, Chair of the CCR, echoed this sentiment, recognizing Ogi’s ability to connect communities and foster regional growth. The endorsement reflects a shared vision between Ogi and the CCR to uplift infrastructure and empower the region’s economic landscape.
Ogi’s partnership with the Cardiff Capital Region underscores a strategic leap towards enhancing connectivity and economic growth in Wales.
