Vendor-neutral data centre provider Teraco Data Environments has finalised a new R2,5-billion loan financing transaction, following its November 2020 announcement that it will build a new 38-megawatt hyperscale data centre in Ekurhuleni.

Teraco will use the funds raised together with internally generated cash to finance the build.

Teraco’s newly appointed chief financial officer, Samuel Erwin, says that the shareholders and lenders of Teraco have a long-term vision for Africa’s digital transformation and support its continued investment in data centre infrastructure to serve the sub-Saharan African market.

He says that this funding round, and continued investments in data centre construction, align with Teraco’s support of the South African Government’s investment drive and Teraco’s 2020 commitment to invest billions of rands into South Africa’s digital infrastructure.

The funding transaction, led by Absa, includes several large institutions that have joined the lending group, with a view to creating long term partnerships that will support Teraco’s future expansion plans.

“Absa has continued along the growth path with Teraco. Their understanding of our business model and funding requirements and ability to offer tailored funding solutions to suit our needs has contributed to Teraco’s success” says Erwin.

Organisations working to accelerate their digital transformation utilise Teraco to scale their IT infrastructure, adopt hybrid and multi-cloud architectures and interconnect with strategic business partners within the Platform Teraco ecosystem of over 600 global and local clients.

Platform Teraco provides enterprises with a direct private connection to all leading cloud providers in a most latency efficient, secure and resilient manner.

Enterprises can deploy their private, public and hybrid cloud strategies on Platform Teraco, which allows for complete freedom of choice from a cloud provider perspective, as well as significantly reducing the time and cost for enterprises to access these cloud platforms.