Telecom

South Africa: ADC secures first tranche of a US$300 mln loan to expand footprint

Tuesday, 23 August 2022 19:52
South Africa: ADC secures first tranche of a US$300 mln loan to expand footprint

(Ecofin Agency) - The U.S. support will enable Africa Data Centres to expand its footprint in other African countries and effectively meet high demand in the growing data center market.  

Africa Data Centres (ADC), the Cassava Technologies Group's data center construction and operations subsidiary, has received an US$83 million disbursement from the U.S. Department of Commerce's International Development Finance Agency (DFC). The disbursement, announced last week, is the first tranche of a US$300 million commitment. It will enable the company to expand its network of data centers in South Africa.

The US$300 million loan was committed by the DFC in December 2020, to support ADC’s African expansion strategy. Indeed, ADC wants to capitalize on the acceleration of digital transformation across Africa by building data centers in ten of the most important economic capitals on the continent, including  Abidjan, Lagos, Accra, Cairo and Casablanca. In September 2021, it announced a 2-year US$500 million investment plan specifically for that purpose.  

DFC’s investment in Africa Data Centres helps expand critical information and communications technology infrastructure in South Africa, Kenya, and other countries in the region [...]Building secure, trusted information technology networks will help enable development and economic growth throughout Africa,”  explained DFC CEO Scott Nathan.

According to the "South Africa Data Center Market - Investment Analysis & Growth Opportunities 2021-2026" report, investment in the data center market in South Africa is expected to reach US$3 billion by 2026, up from an estimated US$1.31 billion in 2020. This represents a compound annual growth rate of 15.17% over 2021-2026. In addition, cloud adoption is expected to grow up to 25% annually and generate revenues of up to US$1.5 billion by 2024.

Isaac K. Kassouwi





 
Finance


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.