Cassava Technology’s pan-African data centre group Africa Data Centres (ADC) has today announced a drawing of the first portion of its $300-million strategic investment made by the United States International Development Finance Corporation (DFC).
The company says that this first $83 million is being applied towards expanding ADC’s data centres in South Africa.
Subsequent disbursements from DFC, ADC says, will be used to realise the expansion of the company’s footprint of data centres in other DFC-eligible African countries. This includes plans to build data centres in ten of Africa’s largest economic capitals, including Abidjan, Accra, Lagos, Cairo, and Casablanca, and to add to existing data centres in Johannesburg and Cape Town.
“The increasing demand for cloud and other digital technologies on the continent has directly increased the demand for African data to reside within the continent. This means Africa needs more data centres,” Tesh Durvasula, CEO of ADC, commented on the expansion plans.
“We are pleased that our data centre expansion programme in South Africa funded by DFC will cater to the growing demand in the country,” Durvasula added.
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This investment by DFC follows ADC’s recent announcement of a $50 million investment by C5 Capital into Cassava Technologies and a partnership to build Cyber Security Operations Centres across six markets in Africa.
“Through these investments, Cassava Technologies is building Africa’s digital infrastructure to enable accelerated economic development and ensure a digitally connected future that leaves no African behind,” said Hardy Pemhiwa, President & CEO of Cassava Technologies.
“Africa has unrealised economic potential that will be unlocked by this investment from DFC. We look forward to working closely with DFC to overcome Africa’s digital infrastructure deficit and accelerate the adoption of cloud services and digital applications across all industries, further making the continent a competitive destination for international investment,” concluded Pemhiwa.
Edited by Luis Monzon
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