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4 months agoon
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tristan munzAfrica Data Centres, a subsidiary of Cassava Technologies, has secured R2 billion in funding arranged by Rand Merchant Bank (RMB). This financial boost is intended to enhance the company’s data centre capacity and cater to the increasing demand for cloud computing services in South Africa.
“It underscores our commitment to growth and our confidence in the future of the South African data centre market.”
“We see this funding as part of RMB’s mandate of financing the development of a sustainable digital economy in South Africa.”
RMB played multiple roles in the arrangement of the R2-billion facility:
The financing will enable Africa Data Centres to significantly expand its infrastructure, addressing the growing demand for reliable and scalable cloud services across the African continent. This expansion is expected to bolster the digital economy, providing enhanced data storage and processing capabilities essential for various industries.
The R2-billion funding secured by Africa Data Centres marks a pivotal moment in the company’s expansion efforts. With the support of Rand Merchant Bank, the company is poised to strengthen its footprint in the African data centre market, contributing to the broader objective of developing a robust and sustainable digital infrastructure across the continent.