Strive Masiyiwa’s Liquid Telecom raises US$307m to expand Africa data centre business

Ola Olaoluwa
Ola Olaoluwa

Africa’s largest fibre network provider, Liquid Telecom, has raised US$307 million from shareholders to expand its data centre business.

The new investment includes an additional US$40 million equity from the CDC Group, the UK’s development finance institution; a second CDC investment in Liquid, after a US$180 million equity investment in 2018, which gave CDC a 10% stake in Liquid.

CDC's Nick O’Donohoe, Liquid CEO Nic Rudnick and Strive Masiyiwa in 2018. Image Source: Newzwire

Owned by Zimbabwean billionaire, Strive Masiyiwa, Liquid plans to employ the new funds to expand its pan-African data centre operation business, Africa Data Centres, in response to the growing demand from large tech companies such as Amazon and Google for data storage and cloud-based applications in Africa.

South Africa In Focus

Population: $58.5 million (Compared to Nigeria's 200.9 million)

GDP: $351.4 billion (Compared to Nigeria's $448.12 billion)

GDP Per Capita: $6,040 billion (Compared to Nigeria's $2,030)

News

Ola Olaoluwa

Writer | Economist