Lanre Kolade, the Group CEO of CSquared Link Holdings (“CSquared”), has announced his departure from the company, effective April 2024, to pursue new opportunities. Initially established as Google’s Project Link, CSquared transformed into a wholesale-only, carrier-neutral fiber infrastructure company through strategic partnerships with industry leaders experienced in Africa’s infrastructure landscape. These partnerships include Convergence Partners, International Finance Corporation, and Mitsui & Co., Ltd, contributing to CSquared’s significant role in Africa’s digital infrastructure sector under Kolade’s leadership.
During Kolade’s tenure, CSquared, originally founded by Google, experienced remarkable growth, with revenues nearly tripling. Under Kolade’s guidance, the network footprint expanded from 2,100 km in 3 markets to 7,000 km in 5 markets, including regional backbone and subsea infrastructure. Key achievements include CSquared’s entry into new markets like the Democratic Republic of Congo and Togo, as well as the successful landing of the Equiano submarine cable system in Togo. CSquared focuses on building open-access broadband infrastructure, making it available to local Internet Service Providers (ISPs) and mobile network operators (MNOs) across six markets in Africa: Uganda, Ghana, Liberia, Kenya, the Democratic Republic of Congo, and Togo.
Additionally, Kolade led a $25 million fundraising round last year, supported by Convergence Partners Digital Infrastructure Fund (CPDIF), International Finance Corporation (IFC), and the International Development Association’s (IDA) Private Sector Window Blended Finance Facility, aimed at enhancing digital infrastructure in existing markets.
Reflecting on his tenure, Kolade expressed pride in CSquared’s accomplishments and confidence in the company’s future, highlighting the dedication of the leadership team and employees. With over 21 years of telecommunications experience across Francophone and Anglophone Africa, Kolade leaves a legacy of innovation and strategic growth at CSquared.
In the interim, Ian Paterson, previously Chief Investment Officer at CSquared, has been appointed as interim CEO. Paterson, renowned for his extensive experience in the African telecommunications industry, will oversee the company’s operations and pursue growth opportunities while the board conducts a search for Kolade’s long-term successor.
