Dimension Data Raises N4.05 Billion to Expand Fibre Infrastructure in Nigeria
The issuance represents the first tranche of the company's N20 billion (approximately US$14.7 million) bond programme, with proceeds earmarked for expanding its fibre infrastructure to meet Nigeria's rising demand for digital connectivity.
Dimension Data Limited has completed the signing ceremony for the issuance of its N4.05 billion (approximately US$2.9 million) Series 1 corporate bond, following a successful subscription. The issuance represents the first tranche of the company’s N20 billion (approximately US$14.7 million) bond programme, with proceeds earmarked for expanding its fibre infrastructure to meet Nigeria’s rising demand for digital connectivity.
Speaking at the signing ceremony, Olugbenga Olabiyi, Managing Director of Dimension Data Limited, said the investment underscores the company’s commitment to advancing Nigeria’s digital economy.
“Beyond delivering technology solutions, we work every day 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.”
– Olugbenga Olabiyi, Managing Director, Dimension Data Limited
Olabiyi also expressed appreciation to the company’s customers, partners, Board members and advisers—including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB and FSDH Capital—for their continued support throughout the transaction.
Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, described the bond issuance as the result of a two-year collaborative effort and a reflection of market confidence in the company’s growth strategy.
“Today’s 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.”
– Shatse Kakwagh, Managing Partner, Mbavaa Partners Limited and Director, Dimension Data SPV Limited
Kakwagh also acknowledged the contributions of the company’s Board, advisers, transaction partners, FSDH Capital, Pathway Advisors and other stakeholders who played a role in the successful execution of the issuance.
Meanwhile, Adekunle Alade, Founder and Chief Executive Officer of Pathway Advisors Limited, the Lead Issuing House and Book Runner, thanked Dimension Data for entrusting the firm with the transaction. He also commended the high-net-worth investors who participated in the bond issuance, noting that their participation demonstrated strong confidence in the company’s long-term growth prospects despite prevailing investor preference for shorter-term investment opportunities.
According to the company, the funds raised will support the continued expansion of its fibre network to meet growing demand from financial institutions, fintech companies, enterprise customers and other technology-driven sectors. Dimension Data believes that as cloud adoption, digital financial services and data-intensive applications continue to accelerate, resilient fibre infrastructure will remain a critical foundation for Nigeria’s digital economy.
