IT solutions provider Dimension Data Limited has raised $2.9 million (₦4.05 billion) in the first tranche of a $14.7 million (₦20 billion) bond programme to support the expansion of its fibre infrastructure in Nigeria.
The funding comes as demand for high-capacity connectivity increases, driven by enterprise digital transformation, fintech growth and rising data consumption.
The company said the investment reflects its long-term commitment to strengthening Nigeria’s digital economy.
Industry data shows Nigeria continues to face fibre infrastructure gaps, particularly outside major urban centres, with operators investing to improve coverage and network resilience.
This comes as cloud adoption, digital financial services and data-intensive applications continue to grow, increasing demand for resilient fibre infrastructure.
The transaction was supported by Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB and FSDH Capital, among other partners.
Planned investments will fund the continued expansion of Dimension Data’s fibre network, supporting demand from financial institutions, fintechs, enterprise customers and other technology-driven sectors, the company said.
Shatse Kakwagh, managing partner of Mbavaa Partners Limited and director of Dimension Data Special Purpose Vehicle Limited, described the transaction as the culmination of a two-year process.
“This 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.”
Olugbenga Olabiyi, managing director of Dimension Data Limited, said: “Beyond delivering technology solutions, we work 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.”
Analysts note that continued investment in fibre infrastructure will be critical to supporting Nigeria’s digital economy, particularly as demand for cloud services, streaming and enterprise connectivity accelerates.
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