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Teraco secures R2.5-billion in new funding round with Absa

Rendition of the Teraco JB4 data centre. Credit: B2 Architects
Teraco Data Environments has concluded its biggest fundraising round to date, securing R2.5-billion from Absa and other lenders that will be used to build a giant new data centre east of Johannesburg.
The money will be go into the construction of Teraco’s new 38MW “hyperscale” data centre in Ekurhuleni. It will also use internally generated cash to finance construction.
Samuel Erwin, Teraco’s newly appointed chief financial officer, said the funding round also includes “several large institutions” that have joined the lending group. He declined to name them. Erwin previously worked at Absa. ....

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Teraco gets R2.5 billion to build the biggest data centre in Africa

Teraco gets R2.5 billion to build the biggest data centre in Africa
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Teraco has secured R2.5 billion in financing for the construction of its new 38MW data centre in Ekurhuleni, South Africa.
The facility is called JB4 and will be the largest data centre in Africa once it is built.
The company said these funds will be used together with its own money to finance the building of the facility.
“Teraco will use the funds raised together with internally generated cash to finance the build,” Teraco said.
“The new transaction cements Teraco’s commitment to continuing investment in the region’s digital infrastructure and expanding Africa’s largest data centre platform.” ....

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Biggest African data-center firm raises R2.5bn for new hub

Image: Chris Ratcliffe/Bloomberg
Teraco Data Environments, Africaâs largest data-center company, raised R2.5 billion ($170 million) to fund the construction of a new facility in South Africa.
The loan financing was led by Johannesburg-based lender Absa Group, and will help Teraco construct a seventh site in Africaâs most industrialised nation, according to Chief Financial Officer Samuel Erwin.
âWe do see continued growth in South Africa and this will form a big part of our focus for the next two to three years,â said Erwin, who joined the company last year from Barclays Africa. âWe are focused on growth, which is always capital intensive, and that means we will always be capital hungry.â ....

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Teraco concludes $166.6m funding round for data centre

02 February 2021 | Abigail Opiah
Teraco Data Environments Proprietary Limited has finalised a $166.6 million (R2.5 billion) loan financing transaction.
This follows the company’s announcement in November 2020 regarding its construction of a new 38MW hyperscale data centre in Ekurhuleni, east of Johannesburg, South Africa.
Teraco said it will use the funds raised together with internally generated cash to finance the build and plan on continuing its investment in the region’s digital infrastructure.
Teraco’s newly appointed Chief Financial Officer, Samuel Erwin, said that the shareholders and lenders of Teraco have 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. ....

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Teraco Secures R2.5 Billion to Build Africa's Largest Data Centre - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and Reports

Teraco has secured R2.5 billion towards the construction of Africa’s largest data centre – a 38-megawatt hyperscale platform in Ekurhuleni, South Africa.
Teraco’s newly appointed CFO, Samuel Erwin, says that the shareholders and lenders have 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 says 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. ....

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