Cassava Technologies has announced the $300 million strategic investment from the United States International Development Finance Corporation (DFC), which was used to expand Africa Data Centers’ (ADC) data centers in South Africa.
According to ADC, DFC investments will be utilized to expand the company’s footprint of data centers into additional DFC-eligible African countries; Abidjan, Accra, Lagos, Cairo, and Casablanca are just a few of the ten largest economic hubs in Africa where data centers are planned to be built. There are also plans to expand the existing data centers 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 centers,” said Tesh Durvasula, CEO of ADC.
“We are pleased that our data center expansion programme in South Africa funded by DFC will cater to the growing demand in the country,” Durvasula added.
Furthermore, this investment by DFC comes in the wake of ADC’s recent announcement of a $50 million investment by C5 Capital into Cassava Technologies and a partnership to establish Cyber Security Operations Centers across six African regions.
“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.