Africa Data Centers (), a Cassava Technologies group business, has unlocked funding that will enable them to expand their data center capacity and meet the growing demand for cloud computing services in South Africa. This was facilitated through a customized financing solution arranged by RMB. Funding agreement demonstrates Data Centers Africa’s strong financial position and commitment to invest in South Africa’s digital transformation
“This funding is an important milestone in the growth of Africa’s Data Centers,” said Hardy Pemhiwa, President and CEO of Cassava Technologies Group. “It underlines our commitment to growth and our confidence in the future of the South African data center market. The additional funding will enable us to support our customers’ digital transformation journeys. Data centers are key to realizing our vision of a digitally connected future that leaves no African behind.”
RMB acted as coordinator, lead lead arranger and bookrunner to the ZAR2 billion facility. The facility was structured by RMB keeping in mind the current strategic objectives of Data Centers Africa.
Africa Data Centers operates a network of ultra-scale and state-of-the-art data centers in Southern, Eastern and Western Africa. The R2 billion funding will enable Data Centers Africa to accelerate the expansion of hyperscale data center capacity by an additional 20 MW, furthering its position as a leading player in the African data center space, enabling ADC to deliver the highest standards of interconnected data , carriers and cloud neutrals. center facilities.
“The data center space presents a significant digital infrastructure opportunity as there is currently a large supply versus demand shortfall. With demand for data center capacity in Africa growing exponentially, we are proud to partner with Africa Data Centers as they facilitate digital transformation across the continent. We see this funding as part of RMB’s mandate to fund the development of a sustainable digital economy in South Africa,” says Nana Phiri, head of RMB’s corporate client group.
Distributed by APO Group on behalf of Data Centers Africa.
About Africa Data Centers:
Africa Data Centers owns and operates Africa’s largest network of interconnected, carrier and cloud-neutral data center facilities. Bringing international experts to the pan-African market, Africa Data Centers is a trusted partner for fast and secure data center services and connectivity across Africa. Strategically located in Southern, Eastern and Western Africa, our world-class data center facilities provide a home for all business-critical data for Africa’s small, medium and large enterprises and global hyper-scale customers.
About RMB:
At RMB Private Bank we aim to give you an expert on your finances coupled with insightful solutions with advice for you and your family. At the heart of our engagement model is your Private Banker, along with a team of advisors and experts who, through inside knowledge of your unique challenges and balance sheet, craft tailored solutions and advice for you. We understand the intricacies of wealth and will help guide you through the complexities of today’s financial world while complementing your lifestyle through our award-winning eBucks rewards program so you can enjoy, manage, protect and grow your wealth for future generations.