Dimension Data Limited has raised N4.05 billion in the first tranche of its N20 billion corporate bond programme to expand its fibre infrastructure and meet rising demand for digital connectivity across Nigeria.
The company disclosed this in a recent statement following the successful subscription and signing of its Series 1 corporate bond, valued at approximately $2.9 million.
The N4.05 billion issuance represents the first tranche of Dimension Data’s N20 billion, or $14.7 million, bond programme, with the proceeds earmarked primarily for the continued expansion of its fibre network.
The planned investment comes as demand for reliable and high-capacity connectivity continues to increase among financial institutions, fintech companies, enterprises and other technology-driven businesses operating in Nigeria.
Speaking at the signing ceremony, Olugbenga Olabiyi, managing director of Dimension Data Limited, said the investment would help the company strengthen infrastructure supporting Nigeria’s digital economy.
He said the company’s focus extends beyond technology solutions to developing infrastructure capable of supporting businesses, innovation and broader digital transformation.
“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,” Olabiyi said.
According to the company, the investment will enable it to respond to the growing requirements of businesses as cloud adoption, digital financial services and data-intensive applications expand.
Dimension Data said resilient fibre infrastructure would remain an important foundation for the country’s digital economy as businesses increasingly depend on high-speed and reliable connectivity.
Shatse Kakwagh, managing partner of Mbavaa Partners Limited and director of Dimension Data SPV Limited, described the bond issuance as the culmination of a two-year process driven by collaboration among the company, advisers, investors and other transaction partners.
Kakwagh said the successful transaction demonstrated market confidence in Dimension Data’s growth strategy, adding that the funds raised would support a larger expansion journey for the company.
Dimension Data also acknowledged the contributions of its customers, partners, board members and advisers, including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB and FSDH Capital, to the successful execution of the transaction.
The company said the N20 billion bond programme would provide funding to support its broader infrastructure expansion plans as demand for digital connectivity continues to rise across Nigeria.
