Teraco secures R2.5bn to build new 38 MW data centre in Ekurhuleni
Vendor-neutral data centre provider Teraco announced on February 2 that it had finalised a new R2.5-billion loan financing transaction for the construction of a new 38 MW hyperscale data centre in Ekurhuleni, east of Johannesburg.
Teraco will use the funds raised, along with internally generated cash, to finance the build, CFO Samuel Erwin said.
He added that the financing transaction had cemented Teraco’s commitment to continuing investment in the region’s digital infrastructure and expanding Africa’s largest data centre platform.
"Shareholders of, and lenders to, Teraco have a long-term vision for Africa’s digital transformation and support continued investment in data centre infrastructure to serve the sub-Saharan African market. 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 into South Africa’s digital infrastructure.
"At a time when enterprises are focusing on cloud adoption strategies, Teraco is making significant investments to provide access to resilient and highly flexible digital infrastructure. 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," Erwin added.
Organisations working to accelerate their digital transformation use Teraco to scale their information technology infrastructure, adopt hybrid and multicloud architectures and interconnect with strategic business partners within the Platform Teraco ecosystem of more than 600 global and local clients.
Platform Teraco provides enterprises with a direct private connection to all 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.
The funding transaction, led by financial services provider 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.
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