Biggest African Data-Center Firm Raises $170 Million for New Hub
- Absa led the funding round for Teraco’s newest data center
- Demand growing for South Africa data storage with 5G rollout
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Teraco Data Environments Ltd., Africa’s largest data-center company, raised 2.5 billion rand ($170 million) to fund the construction of a new facility in South Africa.
The loan financing was led by Johannesburg-based lender Absa Group Ltd., and will help Teraco construct a seventh site in Africa’s most industrialized nation, according to Chief Financial Officer Samuel Erwin.