06 March 2023
Teraco has raised 11.8 billion rand to continue its continued growth in South Africa and increase its energy capacities. This financing is the result of a syndicated loan led by the Absa bank based in Johannesburg.
“As a leading provider of carrier-neutral data centre and interconnect solutions, Teraco is dedicated to protecting, connecting, and growing the businesses and ecosystems that shape the digital future of Africa in a sustainable and responsible way,” said Samuel Erwin, chief financial officer, Teraco.
Teraco will use 5.7 billion rand for the extension of its main interconnection centres on the campuses of Isando, Bredell and Cape Town. The company also plans to implement a renewable energy generation program consistent with its long-term environmental, social and governance (ESG) goals. The remaining 6.1 billion rand will be used to refinance and extend the average maturity profile of Teraco’s existing debt.
This financing is part of Teraco’s commitment in 2020 to increase its investments in South Africa to meet the demand for cloud services that is currently growing in the country and in sub-Saharan Africa.