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Teraco, Africa's Largest Data Center Firm, Plans $73M Investment
Teraco, the largest data center provider in Africa, is planning to invest $73 million in the latest round of expansion•The company expects to have spent four and a half times that amount when the current investment cycle ends next year•The funding has come from a debt facility by Barclays Africa Group•More than 200 African telcos use Teraco's data centers in Johannesburg
Bloomberg
July 5, 2018
1 Min Read
Johannesburg skyline, seen in 2008David Rogers/Getty Images
Loni Prinsloo (Bloomberg) -- Teraco Data Environments Pty Ltd. plans to invest about 1 billion rand ($73 million) as Africa’s largest data center operator expands infrastructure to meet rising demand.
The closely held business will have spent 4.5 billion rand on building data services centers in South Africa when the current investment cycle ends in 2019, Chief Financial Officer Jan Hnizdo said in an interview Tuesday. Funding has come from a debt facility provided by Barclays Africa Group Ltd., also known as Absa, which is lending as much as 1.8 billion rand.
Teraco is investing to meet higher demand for data services in Africa as internet access improves and businesses adopt cloud-based technology. Internet giants such as Netflix Inc. and Facebook Inc. are seeking to reach more remote parts of the continent, while Amazon.com Inc.’s Web Services and Microsoft Corp.’s Azure need data storage.
Teraco’s operations in Johannesburg are used by more than 200 African telecommunications providers and are able to provide 12,000 interconnections.
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