Teraco raises R1.2bn for IT growth
Johannesburg - Teraco Data Environments, which says it is the largest provider of data-centre services in Africa, said it raised R1.2 billion from South African lender Barclays Africa Group to invest in information-technology infrastructure on the continent.
The closely held business will use some of the cash to complete the construction of a new data centre in eastern Johannesburg by the end of year, the company said on Tuesday.
Barclays Africa “understands our unique business model and the associated infrastructure funding requirements and timelines", chief financial officer Jan Hnizdo said.
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“The new site will be the largest commercial data centre in Africa."
Teraco is investing to meet higher demand for data services in Africa as internet access improves and businesses adopt cloud-based technology.
Wireless operators including South African market leaders MTN Group and Vodacom Group are seeing higher growth rates in data sales than traditional voice revenue.