INTELLIGENT BRANDS // Data Centres
Teraco concludes US $ 167.7 million funding round for data centre construction
Teraco Data Environments Proprietary Limited , Africa ’ s largest interconnection hub and vendorneutral data centre provider , has announced a new 2.5 billion rand ( US $ 167.7 million ) loan financing transaction .
This follows Teraco ’ s November 2020 announcement regarding its construction of a new 38 megawatt hyperscale data centre in Ekurhuleni , east of Johannesburg , South Africa . Teraco will use the funds raised together with internally generated cash to finance the build .
The new transaction cements Teraco ’ s commitment to continuing investment in the region ’ s digital infrastructure and expanding Africa ’ s largest data centre platform .
Teraco ’ s newly appointed Chief Financial Officer , Samuel Erwin , said that the shareholders and lenders of Teraco have
PLATFORM TERACO PROVIDES ENTERPRISES WITH A DIRECT PRIVATE CONNECTION TO ALL LEADING CLOUD PROVIDERS IN THE MOST LATENCY EFFICIENT , SECURE AND RESILIENT MANNER POSSIBLE . a long-term vision for Africa ’ s Digital Transformation and support its continued investment in data centre infrastructure to serve the sub-Saharan African market .
Erwin joined the company in 2020 , bringing with him a wealth of corporate and investment banking experience where he led a team responsible for providing debt financing to clients across the African continent .
He said that this funding round , and continued investments in data centre construction , align with Teraco ’ s support of the South African Government ’ s investment drive and Teraco ’ s 2020 commitment to invest billions of Rands into South Africa ’ s digital infrastructure .
The funding transaction , led by Absa , includes several large institutions that have joined the lending group , with a view to creating long term partnerships that will support Teraco ’ s future expansion plans . “ Absa has continued along the growth path with Teraco . Their understanding of our business model and funding requirements and ability to offer tailored funding solutions to suit our needs has contributed to Teraco ’ s success ,” said Erwin .
At a time of enterprises focussing on cloud adoption strategies , Teraco is making significant investments in providing access to digital infrastructure that is both resilient and highly flexible .
This offers enterprises the ability to scale as network strategies evolve in a world where fast and secure interconnection with strategic business partners is a source of competitive advantage .
Organisations working to accelerate their Digital Transformation utilise Teraco to scale their IT infrastructure , adopt hybrid and multi-cloud architectures and interconnect with strategic business partners within the Platform Teraco ecosystem of over 600 global and local clients .
Platform Teraco provides enterprises with a direct private connection to all leading cloud providers in the most latency efficient , secure and resilient manner possible . Enterprises can deploy their private , public and hybrid cloud strategies on Platform Teraco , which allows for complete freedom of choice from a cloud provider perspective , as well as significantly reducing the time and cost for enterprises to access these cloud platforms . p
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