Ogi, a leading alternative telecom provider, secures £45m from Cardiff Capital Region to enhance its network.
- The substantial funding is sourced from the near-fully-invested £1.2bn City Deal fund.
- Ogi plans to extend its full fibre network across ten local authority areas in the region.
- The investment aims to enhance connectivity, supporting data storage needs and digital infrastructure.
- Both Ogi and the Cardiff Capital Region emphasise the strategic importance of this partnership.
Ogi, a prominent alternative telecoms provider in Wales, has successfully secured a £45m funding deal with the Cardiff Capital Region (CCR) to support its expansion endeavours. This deal, engineered to enhance Ogi’s full fibre network reach across the Cardiff Capital Region, is part of the substantial £1.2bn City Deal secured by CCR, aimed at fostering regional development and connectivity.
The funding will enable Ogi to expand its network across ten local authority areas, including Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen, and the Vale of Glamorgan. This marks the largest loan provided by the city region thus far, highlighting the strategic importance placed on extending high-speed internet across South Wales.
Ogi’s initiative aligns with CCR’s broader ambition to create a sustainable investment ecosystem where capital and interest received are reinvested. CCR has recently gained the ability to borrow prudently, becoming the first joint corporate committee in Wales, which further catalyses opportunities for infrastructural advancements.
Ogi was launched in 2021 after securing an initial investment from Infracapital, the infrastructure equity investment arm of M&G plc. Since then, it has delivered full fibre connectivity, telephony, and business IT services to underserved communities, serving over 100,000 premises with a focus on seamless digital integration. This expansion strategy has granted Ogi a notable position as a challenger to incumbent telecom operators.
Ogi’s CEO, Ben Allwright, expresses pride in the progress made stating, “Right from the start, our ambition has been to become a leading Welsh telecoms company, and the last few years have certainly laid strong foundations for that goal.” He further emphasises the potential of this partnership with CCR to drive growth in Southeast Wales and ensure no community is left behind.
The Chair of the CCR, Councillor Mary Ann Brocklesby, acknowledges Ogi’s role in regional regeneration, underscoring the company’s commitment to connecting communities. The collaboration between Ogi and CCR is seen as a critical step in bolstering the region’s digital infrastructure, further supporting the needs of cloud computing, AI, and data storage applications.
Advised by Deloitte and legally counselled by CMS Law, Ogi’s financial manoeuvre is set to contribute significantly to regional connectivity goals while continuing its programmes in areas outside the CCR, including Pembrokeshire.
This strategic investment underscores the commitment to enhancing digital infrastructure across South Wales, driving economic growth and connectivity.
