Teraco has raised a medium term debt funding facility from South Africa's ABSA bank to the tune of approximately $91 million (R1.2 billion) to invest in data centres in South Africa.
“We will use the funding to further invest in the Teraco Campus in Isando. The site presently has 20MW’s of capacity, which needs to all be brought online. We have also purchased land adjacent to the existing site allowing for further expansion. In addition, a component of the funding has also been earmarked for the construction of Teraco’s new data centre in Bredell.” explained Teraco’s Chief Financial Officer, Jan Hnizdo.
“Bredell will be the largest commercial data centre in Africa and Teraco, the largest commercial data centre operator in Africa."John Hzindo, CFO at Teraco
Teraco is a company that builds and operates colocation data centre facilities.
The Teraco Campus in Isando (Johannesburg, South Africa) has been established as the connectivity gateway into South and sub-Saharan Africa. It now houses over 350 Teraco clients
“Teraco continues to experience high demand for its neutral data centre facilities, underpinned by strong growth in Internet penetration into Africa and increased cloud adoption by the enterprise sector,” says Lex van Wyk, CEO of Teraco.
Teraco now has four data centre facilities located in Cape Town, Durban and Johannesburg, which combined, at current facilities end-state will comprise 50MW of power and over 18,000m2 of data centre space.