In a resounding stride towards fortifying its pivotal role in Africa’s digital landscape, Africa Data Centres, a Cassava Technologies subsidiary, has secured a substantial ZAR 2 billion in growth financing through RMB. This strategic move is poised to amplify the continent’s data infrastructure, addressing burgeoning demands in cloud computing services, particularly within South Africa.
Underpinning this milestone achievement is a bespoke financing arrangement meticulously crafted by RMB, underscoring Africa Data Centres’ robust financial footing and steadfast commitment to bolstering South Africa’s digital transformation journey.
“This funding signifies a momentous leap in Africa Data Centres’ evolution,” affirmed Hardy Pemhiwa, President & Group CEO of Cassava Technologies. “It reaffirms our dedication to expansion and underscores our confidence in the prospects of the South African data centre market. With this injection of capital, we are poised not only to meet but to exceed our customers’ expectations in their digital transformation endeavours. Data centres are pivotal in realizing our vision of a digitally interconnected future that embraces all Africans.”
RMB played a pivotal role in orchestrating the financing, assuming the roles of Coordinator, Initial Mandated Lead Arranger, and Bookrunner for the ZAR 2 billion facility. The financing structure, meticulously tailored by RMB, perfectly aligns with Africa Data Centres’ ongoing strategic imperatives.
Operating a vast network of hyperscale and edge data centres across Southern, East, and West Africa, Africa Data Centres is set to leverage this ZAR 2 billion influx to accelerate the expansion of its hyperscale data centre capacity by an additional 20MW. This ambitious move further solidifies its stature as a frontrunner in Africa’s data centre ecosystem, renowned for delivering top-tier interconnected, carrier-neutral, and cloud-agnostic data centre solutions.
“The data centre sector presents a significant digital infrastructure opportunity, particularly given the stark deficit in supply compared to burgeoning demand,” emphasized Nana Phiri, head of the corporate client group at RMB. “With the exponential surge in data centre capacity needs across Africa, we are proud to partner with Africa Data Centres in propelling digital transformation across the continent. This financing underscores RMB’s steadfast commitment to fostering a sustainable digital economy in South Africa.”
In essence, Africa Data Centres’ securing of ZAR 2 billion in growth financing through RMB stands as a testament to its unwavering dedication to advancing Africa’s digital frontiers. With visionary leadership and strategic partnerships, Africa Data Centres remains poised to shape the future of digital connectivity across the continent, ensuring that every African is included in the digital revolution.
