SOUTH AFRICA – Africa Data Centres, part of the Liquid Tech Group, has secured approximately US$108.9 million in funding to expand its data centre capacity and meet the growing demand for cloud computing services in South Africa.
Rand Merchant Bank (RMB) expertly orchestrated the procurement of these funds through a tailor-made financial arrangement.
The financing will enable Africa Data Centres to accelerate the expansion of its hyperscale data center capacity by an additional 20MW, furthering its position as a leading player in the African data center space.
This will enable ADC to provide the highest standard of interconnected, carrier, and cloud-neutral data center facilities.
“This funding is a significant milestone in the growth of Africa Data Centres,” said Hardy Pemhiwa, President & Group CEO of Cassava Technologies.
“It underscores our commitment to growth and our confidence in the future of the South African data center market. The additional funding will allow us to support our customers’ digital transformation journeys. Data Centres are key to delivering our vision of a digitally connected future that leaves no African behind.”
RMB acted as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner on the facility. RMB structured the facility taking into account Africa Data Centres’ current strategic objectives.
The financing will bolster Africa Data Centres’ ability to deliver top-tier interconnected, carrier, and cloud-neutral data center facilities. By doing so, Africa Data Centres will enhance its offerings and provide robust infrastructure that meets the high standards demanded by clients in the region.
This development is expected to empower Africa Data Centres further to meet the evolving needs of businesses requiring reliable and secure data storage and management solutions on the African continent.
“The data center space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand,” said Nana Phiri, head of the corporate client group at RMB.
“With the exponential growth in demand for data center capacity in Africa, we are proud to partner with Africa Data Centres as they facilitate digital transformation across the continent. We see this funding as part of RMB’s mandate to finance the development of a sustainable digital economy in South Africa.”
Africa Data Centres operates a network of hyper-scale and edge data centers across Southern, East, and West Africa.
Outside of South Africa, Africa Data Centre operates one facility in Lagos, Nigeria, and one in Nairobi, Kenya.
It also plans to expand to Rwanda, Togo, and Ghana. These new facilities, along with the Cape Town project, fit into Africa Data Centres’ investment program to deliver an additional ten data centers in Africa.
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