Integrated IT solutions provider, Dimension Data Nigeria, has successfully raised N20 billion through a bond programme executed under Dimension Data SPV Funding Plc.
According to a company statement, the bond issuance followed approval from the Securities and Exchange Commission (SEC). The funds will be use to support long-term investments in critical infrastructure essential for driving Nigeria’s digital economy.
What They’re Saying
At the documentation and regulatory clearance event in Lagos, Gbenga Olabiyi, Managing Director of Dimension Data Nigeria, emphasized the focus on creating long-term value through this capital raise.
“Sustained infrastructure investment is key to staying competitive and unlocking future growth,” Olabiyi stated. “When deployed strategically, infrastructure strengthens businesses, future-proofs operations, and enables efficient scaling to meet increasing data demand and complexity.”
However, the company highlighted that current infrastructure challenges increase operating costs, reduce service quality, and slow digital transformation.
The bond programme aims to expand network capacity, enhance resilience, and support carrier-grade and enterprise services to meet the rising demand for data.
A Milestone Achievement
The bond programme supported by private equity firm Mbavaa Partners Limited. Shatse Kakwagh, Managing Partner of Mbavaa Partners, described the transaction as a significant milestone for Dimension Data Nigeria.
He said, “This journey began years ago, and it demonstrates that the market opportunities we identified can realised,” Kakwagh said. He added that the programme provides the company with long-term capital to fund its ambitious growth plans across Nigeria and potentially the broader African market.
Kakwagh also noted that the bond programme received strong ratings, and the first issuance heavily oversubscribed, reflecting high investor confidence in the company’s strategy and execution capabilities.
Key Partners in the Transaction
To continue, the bond issuance facilitated by a consortium of financial and professional service firms, including:
- Pathway Advisors Limited as Book Runner.
- Greychapel Legal and Alliance Law Firm as Solicitors.
- CardinalStone Registrars Limited and STL Trustees Limited as Registrar and Trustees.
- Deloitte & Touche as Reporting Accountant, alongside Mascot Okpori & Co as Auditors.
- Fidelity Bank as Receiving Bank.
- Agusto & Co as Rating Agency.
Although, this successful bond programme positions Dimension Data Nigeria to strengthen its infrastructure and support the country’s growing digital economy.
