Africa Data Centres, a prominent business within the Cassava Technologies group, has successfully secured ZAR 2 billion in funding to facilitate the expansion of its data centre capacity in South Africa. This significant financial milestone underscores the growing demand for cloud computing services in the region and reflects the company’s commitment to spearheading digital transformation across the continent.
The funding was arranged through a bespoke financing solution crafted by Rand Merchant Bank (RMB). RMB played a pivotal role as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner for the ZAR 2 billion facility, tailoring the structure of the facility to align with the strategic objectives of Africa Data Centres.
This financial injection will enable Africa Data Centres to accelerate the expansion of its hyperscale data centre capacity by an additional 20 megawatts (MW). This expansion is critical for the company to maintain and strengthen its leadership position in the African data centre market. With this enhanced capacity, Africa Data Centres is set to provide top-tier, interconnected, carrier-neutral, and cloud-neutral data centre facilities, catering to a broad spectrum of clients and addressing the surging demand for reliable and scalable digital infrastructure.
Africa Data Centres operates an extensive network of hyperscale and edge data centres across Southern, East, and West Africa. This regional footprint is integral to supporting the digital ecosystem on the continent, providing essential infrastructure for cloud service providers, enterprises, and telecommunications companies. The additional capacity will not only bolster Africa Data Centres’ service offerings but also contribute to the broader digital economy in South Africa and beyond.
The bespoke financing solution devised by RMB highlights the robust financial standing of Africa Data Centres and the confidence of financial institutions in its growth trajectory. As the digital landscape in Africa continues to evolve, investments such as these are vital to fostering innovation, supporting economic growth, and ensuring that African businesses and consumers have access to cutting-edge digital services.
Tesh Durvasula, CEO of Africa Data Centres, expressed his enthusiasm about the expansion, stating, “This significant investment demonstrates our unwavering commitment to driving digital transformation in Africa. With the additional capacity, we are well-positioned to meet the growing needs of our customers and contribute to the continent’s digital future.”
In conclusion, the ZAR 2 billion financing secured by Africa Data Centres is a landmark achievement that will propel the company towards new heights in the African data centre landscape. It exemplifies the critical role that strategic financial partnerships play in enabling technological advancements and underscores the potential for Africa to emerge as a key player in the global digital economy.
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