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Dimension Data Limited, the Nigerian technology and connectivity provider, has completed the first tranche of its corporate bond programme, raising $2.9 million (N4.05 billion) as part of a broader $14.7 million (N20 billion) issuance.
The proceeds will fund the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity.
The Series 1 corporate bond attracted participation from high-net-worth investors, with the transaction supported by FSDH Capital, Pathway Advisors Limited as lead issuing house and book runner, Deloitte, STL, Fidelity Bank, and FCMB.
The planned investments will support increasing demand from financial institutions, FinTech companies, enterprise customers, and other technology-driven sectors as cloud adoption, digital financial services, and data-intensive applications continue to grow across Nigeria.
“Beyond delivering technology solutions, we work every day to strengthen Nigeria’s digital economy. This milestone reflects the confidence of our partners and investors in our vision, and we look forward to translating these investments into infrastructure that supports businesses, innovation and national digital transformation,” said Olugbenga Olabiyi, managing director of Dimension Data Limited.
According to the company, the transaction took two years to structure and execute, involving collaboration across the company’s board, advisers, and transaction partners.’
“Today’s achievement validates the quality of work being done by the Dimension Data team and the market’s confidence in the company’s growth strategy. This funding is not the destination — it is the beginning of an even bigger journey,” said Shatse Kakwagh, managing partner of Mbavaa Partners Limited and director of Dimension Data SPV Limited.
Founded in 1983, Dimension Data offers services like systems integration, managed services, cloud solutions, business applications, customer experience, and security solutions.
As part of the NTT Group, Dimension Data employs over 10,000 people across 15 countries after consolidating its subsidiaries into one brand in 2020.
Dimension Data is also a level 2 BBBEE contributor and is committed to supporting transformation for a more inclusive society.
