Africa Data Centres has secured approximately $108.9 million in funding to expand its data centre capacity, meeting the growing demand for cloud computing services in South Africa. This significant funding milestone was facilitated through a bespoke financing solution arranged by RMB, demonstrating the strong confidence in the South African data centre market.
Hardy Pemhiwa, President & Group CEO of Cassava Technologies, expressed enthusiasm about the funding, stating, “This funding 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 and deliver on our vision of a digitally connected future that leaves no African behind.”
RMB played a crucial role in this transaction, acting as the Coordinator, Initial Mandated Lead Arranger, and Bookrunner. The facility was structured to align with Africa Data Centres’ strategic objectives, ensuring the expansion is well-supported and strategically sound.
With this funding, Africa Data Centres plans to accelerate the expansion of its hyperscale data centre capacity by an additional 20MW. This expansion reinforces Africa Data Centres’ position as a leading player in the African data centre space, providing top-tier interconnected, carrier, and cloud-neutral data centre facilities.
Nana Phiri, head of corporate client group at RMB, highlighted the importance of this development, stating, “The data centre space presents a significant digital infrastructure opportunity. 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.”
This funding not only supports Africa Data Centres’ growth but also aligns with RMB’s mandate of financing the development of a sustainable digital economy in South Africa. This collaboration marks a pivotal step towards a more connected and digitally empowered Africa.
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