Africa Data Centres gets over $100m to expand capacity in South Africa
TLDR
- Africa Data Centres secures $109.5 million to expand capacity for cloud computing services in South Africa.
- Funding facilitated by Rand Merchant Bank (RMB) Private Bank, signaling commitment to digital transformation.
- Partnership highlights the financial strength and investment dedication of Africa Data Centres in South Africa.
Africa Data Centres, which owns and operates Africa's largest network of interconnected, carrier, and cloud-neutral data center facilities, has secured $109.5 million to expand capacity and meet the growing demand for cloud computing services in South Africa.
This funding was facilitated through a solution arranged by Rand Merchant Bank (RMB) Private Bank, a division of FirstRand, a fully integrated financial services group in South Africa. RMB acted as the coordinator, initial mandated lead arranger, and book runner on the facility.
The partners in the deal say the financing agreement demonstrates the strong financial position of Africa Data Centres and its commitment to investing in the digital transformation of South Africa
Key Takeaways
Across Africa, the data center space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand. Africa is positioned to be the next frontier of the data center industry as large numbers of data centers along with large power capacities are coming up. The data center demand in the region is fuelled by the rise in the adoption of 5G, artificial intelligence, government incentives, and smart city initiatives. More than $5 billion is expected to be invested in the market, per available forecasts.
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