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

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.

For more information on how to apply email marketing@techcreditfund.co.za or visit www.techcreditfund.co.za.

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About Tech Credit Fund

The Tech Credit Fund, established by Solcon Capital, is a private credit fund focused on providing structured, growth-oriented funding to businesses operating in the technology and infrastructure sectors. The Fund prioritises scalable enterprises that deliver measurable economic, social, and digital inclusion impact.

About ADNOTES

ADNOTES is a South African, Black-owned Internet Service Provider delivering uncapped 5G, wireless, fibre, and TV White Spaces connectivity nationwide. The company is recognised for its innovation, community-led connectivity initiatives, and commitment to expanding digital access across underserved communities.