Africa Data Centres, which owns and operates Africa's largest network of interconnected, carrier and cloud-neutral data centre facilities, says it has unlocked funding that will allow it to expand data centre capacity and meet the growing demand for cloud computing services in South Africa.
This funding was facilitated through a bespoke financing solution arranged by 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 bookrunner on the ZAR2 billion (US$109.5 million) 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
Africa Data Centres operates a network of hyperscale and edge data centres across Southern, East and West Africa. It says that the financing will enable it to accelerate expand its hyperscale data centre capacity by an additional 20MW
Nana Phiri, head of corporate client group at RMB, explains: “The data centre space presents a significant digital infrastructure opportunity, as there is currently a large deficit of supply versus demand. We see this funding as part of RMB’s mandate of financing the development of a sustainable digital economy in South Africa.”
