Cassava Technologies group company, Africa Data Centres, has secured ZAR 2 billion in funding to expand data centre capacity and meet the demand for cloud computing services in South Africa. This was facilitated through a bespoke financing arrangement by RMB, which acted as the coordinator, initial mandated lead arranger, and book-runner. The facility was structured by RMB, taking into account the current strategic objectives of Africa Data Centres, the company announced on Monday.
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Milestone for Africa Data Centres
"This funding is a significant milestone in the growth of Africa Data Centres," said 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."
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 Africa Data Centres to accelerate the expansion of its hyperscale data centre capacity by an additional 20 MW, the official release said.
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RMB's Role in the Financing
"The data centre space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand. 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," RMB added.
