Tech Credit Fund Deploys R5 Million to AdNotes, Powering the Growth of Black-Owned ISPs and Digital Inclusion

WHY THIS MATTERS:
Affordable, reliable internet access is now foundational infrastructure — underpinning education, employment, healthcare access and small business growth. Yet across South Africa, historically disadvantaged ISPs that are closest to underserved communities often struggle to access growth-aligned capital, slowing network rollout where it is needed most. By deploying private credit specifically structured for community-focused connectivity providers, Solcon Capital’s Tech Credit Fund is addressing a structural funding gap while directly supporting digital inclusion, job creation and economic participation in township, peri-urban and rural areas.

Solcon Capital’s Tech Credit Fund (“TCF”) has successfully concluded a R5 million structured private credit funding transaction with AdNotes, a multiple award-winning, Black-owned South African Internet Service Provider (ISP), supporting the expansion of affordable and reliable internet access to underserved communities across the country. This transaction marks the first deployment of capital by the Tech Credit Fund and establishes a proof-of-concept for funding scalable, community-focused ISPs across South Africa. 

The funding will accelerate AdNotes’ expansion across KwaZulu-Natal, Eastern Cape, Northern Cape, Western Cape, Limpopo, North West, Mpumalanga, and Gauteng, supporting the rollout of uncapped 5G, wireless internet, fibre, and TV White Spaces (TVWS) technologies. The investment positions AdNotes to connect 200,000 households and users by the end of 2026, particularly in township, peri-urban, and rural communities where access to affordable broadband remains limited. 

“This investment enables us to back historically disadvantaged ISPs that are delivering practical solutions to South Africa’s connectivity challenges,” Pramod Venkatesh, Tech Credit Fund said. “By providing growth-aligned funding, we are supporting faster network rollout, improved service reliability, and broader access to affordable internet for households and small businesses.” 

This milestone transaction reflects Solcon Capital’s commitment to advancing digital inclusion through inclusive funding, while addressing the structural funding gap faced by historically disadvantaged ISPs. The Tech Credit Fund is designed as a catalytic credit vehicle that provides growth-aligned, operationally relevant funding solutions to ISPs that are building essential digital infrastructure. 

AdNotes brings a proven national footprint, reaching a population base of over 30 million people through its own and partner networks, and has earned multiple industry recognitions for innovation and digital systems implementation. The company has also represented South Africa internationally in markets including the United Kingdom, China, Germany, Morocco, Egypt, and the United Arab Emirates, demonstrating the export potential of locally developed connectivity solutions.

Beyond infrastructure expansion, AdNotes is deeply committed to local economic empowerment and skills development. Through its AdNotes Ambassadors Programme, the company is recruiting over 1,000 community ambassadors, creating income-generating opportunities while transferring sales and service skills. In parallel, its Independent Installer Initiative supports more than 500 installers, strengthening local technical capacity and job creation. 

“This funding closes the infrastructure requirement for us to fully implement the Advancing Sustainable Connectivity and Community-Led Digital Economies project and scale our Open Access Collaboration Model in two additional provinces,” Nathi Mbele, CEO at AdNotes, said. “It supports faster deployment into townships and rural areas and enables us to collaborate with twenty-five Local Community Network Operators as we connect more households, public facilities, and hotspots without compromising reliability or community involvement.” 

This first transaction establishes a scalable funding pipeline that the Tech Credit Fund intends to extend to additional historically disadvantaged ISPs seeking to expand broadband coverage, improve service quality, and deepen digital participation across South Africa.

Following this milestone, the Tech Credit Fund is actively engaging with other ISPs, development partners, regulators, and ecosystem participants to broaden its impact and accelerate inclusive digital infrastructure development.

FF NEWS TAKE:
This first deployment by Solcon Capital’s Tech Credit Fund is as much a signal as it is a transaction. It shows how targeted private credit can be used as a catalytic tool — not just to scale infrastructure, but to back locally rooted operators with proven execution capability. AdNotes’ blend of alternative access technologies, community partnerships and skills development reflects a model that policymakers and investors are increasingly keen to replicate. If this proof-of-concept scales, it could unlock a new funding pathway for community-led ISPs across South Africa and beyond.