Grace Ashiru
Africa Data Centres, a subsidiary of the Cassava Technologies group, has secured funding to expand its data centre capacity and meet the increasing demand for cloud computing services in South Africa. This was achieved through a customized financing solution arranged by RMB. The financing agreement highlights Africa Data Centres’ strong financial standing and its dedication to investing in South Africa’s digital transformation.
“This funding marks a significant milestone in Africa Data Centres’ growth,” stated Hardy Pemhiwa, President & Group CEO of Cassava Technologies. “It reinforces our commitment to growth and our confidence in the future of the South African data centre market. The additional funding will enable us to support our customers’ digital transformation journeys. Data centres are crucial to realizing our vision of a digitally connected future that includes all Africans.”
RMB served as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner for the ZAR2 billion facility. The facility was structured by RMB, aligning with the current strategic objectives of Africa Data Centres.
Africa Data Centres operates a network of hyperscale and edge data centres throughout Southern, East, and West Africa. The R2bn financing will enable Africa Data Centres to accelerate the expansion of its hyperscale data centre capacity by an additional 20MW, further cementing its position as a leading player in the African data centre industry. This expansion will allow ADC to provide top-tier interconnected, carrier, and cloud-neutral data centre facilities.
“The data centre sector offers a substantial digital infrastructure opportunity, given the current significant deficit of supply compared to demand. With the exponential growth in demand for data centre capacity in Africa, we are proud to partner with Africa Data Centres as they drive digital transformation across the continent. We view this funding as part of RMB’s commitment to financing the development of a sustainable digital economy in South Africa,” says Nana Phiri, head of the corporate client group at RMB.
