Dimension Data Nigeria N20bn Bond Issuance

Dimension Data Nigeria, through its special purpose vehicle Dimension Data SPV Funding Plc, has successfully executed a N20 billion bond program following approval from the Nigeria===Securities and Exchange Commission (Nigeria). The capital raise, which was heavily oversubscribed, is aimed at expanding critical digital infrastructure, strengthening enterprise connectivity, and improving network resilience across Nigeria. This initiative addresses significant digital infrastructure gaps in the country, driven by increasing demand for data, cloud services, fintech, and artificial intelligence. Gbenga Olabiyi, Managing Director of Dimension Data Nigeria, emphasized the focus on long-term value creation and infrastructure investment. Mbavaa Partners Limited, the private equity firm backing Dimension Data Nigeria, described the transaction as a watershed moment, validating their long-term infrastructure strategy and enabling aggressive growth plans across Nigeria and potentially Africa. A consortium of financial and professional service firms advised on the transaction.