Africa Data Centres has unlocked funding that will allow it to expand data centre capacity and meet the growing demand for cloud computing services in South Africa.
This was facilitated through a bespoke financing solution arranged by RMB.
“This funding is a significant milestone in the growth of Africa Data Centres,” says Hardy Pemhiwa, president and group CEO of holding company Cassava Technologies. “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.”
RMB acted as the co-ordinator, initial mandated lead arranger and bookrunner on the R2-billion facility that was structured to take into account the current strategic objectives of Africa Data Centres.
Africa Data Centres operates a network of hyperscale and edge data centres across Southern, East and West Africa. The R2-billion financing will enable it to accelerate expand its hyperscale data centre capacity by an additional 20MW, enabling ADC to provide the highest standard of interconnected, carrier and cloud-neutral data centre facilities.
“The data centre space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand,” says Nana Phiri, head of corporate client group at RMB. “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.”