UK development finance institution and impact investor CDC Group has invested an additional $40-million of equity into African independent fibre, data centre and cloud technology provider Liquid Telecom.
This is CDC’s second investment into the company, after an initial equity investment of $180-million in 2018.
CDC’s additional investment comprises part of Liquid’s wider fundraise, with the company having raised $307-million through a rights issue to shareholders.
This investment will support Liquid’s plan to further expand its pan-African data centre operation business, Africa Data Centres, and consolidate its position as the leading data centre operator on the continent.
Africa Data Centres is well positioned to service increasing demand for data storage and cloud-based applications across the continent. It is currently estimated that less than 20% of potential telecommunications enterprise demand is being served in Africa, with London having three times more cloud computing power available than the entire African continent.