NAIROBI, Kenya- In a move set to accelerate the digital transformation across the continent, Africa Data Centres has secured approximately $108.9 million in funding.
This financial boost is aimed at expanding its data centre capacity to meet the soaring demand for cloud computing services in South Africa.
Bespoke Financing for a Digital Future
The funding was facilitated through a bespoke financing solution arranged by RMB, marking a significant milestone in the growth of Africa Data Centres.
Hardy Pemhiwa, President & Group CEO of Cassava Technologies, emphasized the importance of this development.
“This funding is a significant milestone in the growth of Africa Data Centres,” said Pemhiwa. “It underscores our commitment to growth and our confidence in the future of the South African data centre market.”
Expanding Capacity to Meet Demand
Africa Data Centres operates a robust network of hyper-scale and edge data centres across Southern, East, and West Africa.
The new funding will enable the company to expand its hyperscale data centre capacity. This expansion is crucial in addressing the significant deficit of supply versus demand in the African data centre market.
RMB played a pivotal role as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner on the facility.
Nana Phiri, head of the corporate client group at RMB, highlighted the importance of this partnership.
“The data centre space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand. With the exponential growth in demand for data centre capacity in Africa, we are proud to partner with Africa Data Centres as they facilitate digital transformation across the continent,” said Phiri.
The expansion is aligned with the strategic objectives of Africa Data Centres and RMB’s mandate of financing the development of a sustainable digital economy in South Africa.
