Africa Data Centres (ADC), a pan-African data center group owned by Cassava Technology, has announced that it has received the first part of a $300 million strategic investment from the U.S. International Development Finance Corporation (DFC).
The company says that the first $83 million is being used to expand ADC’s data centers in South Africa.ADC says that future payments from DFC will be used to build more data centers for the company in other African countries that are eligible for DFC. This includes plans to create data centers in 10 of Africa’s greatest economic hubs, including Abidjan, Accra, Lagos, Cairo, and Casablanca, as well as plans to add on to data centers that are already in operation in Johannesburg and Cape Town.
Since people on the continent are using the cloud and other digital technologies more and more, they want their data to stay on the continent. This implies that Africa needs more data centers,” The Chief Executive Officer ADC, Tesh Durvasula, talked about the plans to grow. We’re happy that our South African data center expansion program, which is being paid for by DFC, will meet the growing demand in the country,” Durvasula said.
Cassava Technologies will set up cyber security centers in 6 African countries.
This investment by DFC comes after ADC announced that C5 Capital would put $50 million into Cassava Technologies and work with them to build Cyber Security Operations Centers in six African markets.
With these investments, Cassava Technologies is building Africa’s digital infrastructure to speed up economic growth and ensure that no African is left out of the digital future. President and Chief Executive Officer of Cassava Technologies, Hardy Pemhiwa, said
This investment from DFC will help Africa realize its untapped economic potential and capitalize on the opportunities it presents. We are excited to collaborate closely with DFC to address Africa’s lack of digital infrastructure and expedite the adoption of cloud services and digital applications across all industries. Pembina said this would make the continent an even better place for foreign investors to invest their money.