Teraco Secures Funding for Hyperscale Data Centre

Last year we reported that Teraco Data Environments Proprietary Limited heralded as Africa’s largest interconnection hub and vendor-neutral data centre provider had announced that it had begun construction of a new hyperscale data centre with 38MW of critical power load in Ekurhuleni, South Africa and will be the largest data centre in Africa once it is built, has announced that it has finalized a new R2.5-billion (€140 million) loan financing transaction led by Absa and several other institutions.

RELATED READING: TERACO STARTS BUILDING THE BIGGEST DATA CENTRE IN AFRICA

Teraco will use the funds towards the construction of a new 38-megawatt hyperscale data centre in Ekurhuleni, east of Johannesburg, South Africa, and is a further commitment to the company’s goal of continued investment into the regions digital infrastructure and expanding its current offerings. 

The company’s chief financial officer Samuel Erwin said that the investment in Teraco shows that its shareholders and lenders have “a long-term vision for Africa’s digital transformation.” He also added that the financing aligns with Teraco’s support for the South African Government’s drive to invest billions of Rands into the country’s digital infrastructure.

Samuel Erwin, Chief Financial Officer of Teraco comments on the support from Absa. 

 “Absa has continued along the growth path with Teraco. Their understanding of our business model and funding requirements and ability to offer tailored funding solutions to suit our needs has contributed to Teraco’s success.”

Teraco

Founded in 2008, Teraco provides a unique service to enterprises that enables them with a direct private connection to all leading cloud providers. 

In a press statement, Teraco highlights how its service works and the benefits for enterprises. 

“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.”

Teraco’s services are used to scale IT infrastructure, adopt and hybrid and multi-cloud architecture and interconnect with strategic business partners within the Platform Teraco ecosystem that is comprised of reportedly over 600 global and local entities.