Africa Data Centres, part of the Cassava Technologies group, has obtained significant funding to expand its data centre capacity.
This funding will also help them meet the increasing demand for cloud computing services in South Africa.
It was made possible through a customised financing solution arranged by RMB, showcasing the group’s financial health and dedication to South Africa’s digital transformation.
According to Hardy Pemhiwa, President and Group CEO of Cassava Technologies, this funding highlights the company’s growth ambitions and confidence in South Africa’s data centre market. He stated
“This funding is a significant milestone in the growth of Africa Data Centres. It underscores our commitment to growth and our confidence in the future of the South African data centre market.
“The additional funding will allow us to support the digital transformation journeys of our customers.
“Data Centres are key to delivering on our vision of a digitally connected future that leaves no African behind.” Hardy Pemhiwa, President & Group CEO, Cassava Technologies.
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Boosting Africa’s Digital Infrastructure Growth
RMB played a key role in securing the ZAR2 billion facility. They acted as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner. RMB designed the facility with Africa Data Centres’ strategic goals in mind.
Africa Data Centres manages a network of hyperscale and edge data centres. These centres span Southern, East, and West Africa.
With this new financing, the group will expand its hyperscale data centre capacity by an additional 20MW. This expansion will strengthen their position as a leader in the African data centre market.
Moreover, the company aims to offer the highest standard of interconnected, carrier, and cloud-neutral facilities.
This will help them meet the growing demand for cloud computing services. The funding will also enable faster growth and better service for their customers.
RMB’s support is a testament to Africa Data Centres’ financial strength. It also highlights their commitment to digital transformation in Africa.
The expansion aligns with the company’s vision of a digitally connected future. This funding is a crucial step towards achieving that vision.
Africa Data Centres is well-positioned to support the continent’s digital infrastructure needs. This move will benefit not just South Africa, but the entire region.
While giving her remarks, Nana Phiri, Head of Corporate Client Group, RMB stated,
“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.
“We see this funding as part of RMB’s mandate of financing the development of a sustainable digital economy in South Africa.”