Africa Data Centres, a subsidiary of Cassava Technologies, has finalized a significant $110 million investment agreement with Rand Merchant Bank (RMB) aimed at enhancing its presence in South Africa’s digital infrastructure landscape. The financing, structured by RMB, underscores the strategic importance of meeting the growing demand for cloud computing services in the region.
“This funding allows us to accelerate our support for clients’ digital transformation initiatives,” noted Hardy Pemhiwa, President & Group CEO of Cassava Technologies. The investment will enable Africa Data Centres to deploy an additional 20 megawatts (MW) of capacity, reinforcing its commitment to expanding operations across South Africa.
Nana Phiri, Head of Corporate Client Group at RMB, emphasized the critical role of digital infrastructure in bridging the current supply-demand gap. “The data centre sector presents a significant opportunity as we address the increasing need for robust digital solutions,” Phiri stated.
Currently, Africa Data Centres operates two facilities in Johannesburg and one in Cape Town, with plans underway for a new 20MW facility in Cape Town. The specific allocation of the new funding was not disclosed, but it is expected to support ongoing expansions in South Africa and potentially new developments in the region.
“As demand for data centre capacity grows exponentially in Africa, our partnership with Africa Data Centres aims to facilitate seamless digital transformation across the continent,” Phiri added.
In addition to its presence in South Africa, Africa Data Centres operates facilities in Lagos, Nigeria, and Nairobi, Kenya, with expansion plans extending to Rwanda, Togo, and Ghana. This initiative aligns with the company’s broader strategy to establish ten additional data centres across Africa, positioning it as a key player in regional digital infrastructure.
Photo source: Google
By: Montel Kamau
Serrari Financial Analyst
19th June, 2024
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