In a bold move to accelerate the United Kingdom’s digital infrastructure, nexfibre, a UK-based wholesale fibre network provider, has committed to investing £1 billion during the 2024 financial year. This investment aims to significantly expand the country’s broadband capacity, focusing on areas currently underserved by existing networks.
Formed in 2022 through a partnership between InfraVia Capital Partners, Liberty Global, and Telefonica, nexfibre emerged with a vision to bridge the digital divide with a £4.5 billion backing. The venture’s mission is to deploy Fibre-to-the-Premises (FTTP) broadband across up to 7 million homes, specifically targeting regions not covered by Virgin Media.
As the company approached the end of the previous year, it reported substantial progress, having extended its FTTP network to approximately 830,000 premises. Nexfibre’s ambitious plans include surpassing the 1 million premises mark by spring 2024, with the latest investment poised to further boost the network’s reach by an additional 1 million premises within the next year.
Rajib Datta, CEO of nexfibre, emphasized the company’s commitment to overcoming the UK’s historical investment shortcomings in digital infrastructure. He highlighted the transformative potential of the £1 billion investment, not only in fostering community development and economic growth but also in introducing sustainable competition and cutting-edge connectivity solutions to the UK market.
Nexfibre’s strategic roadmap outlines an aggressive expansion, aiming to cover 5 million homes by the end of 2026, with network capabilities reaching speeds up to 10Gbps. This initiative reflects nexfibre’s dedication to propelling the UK forward in the global digital race, challenging existing market dynamics dominated by incumbents like BT. Datta has openly criticized BT for its monopolistic practices and sluggish investment pace, which he believes has hindered the UK’s technological advancement compared to its European neighbors. Nexfibre’s latest investment announcement marks a significant step towards reshaping the UK’s broadband landscape.
