Teraco Data Environments recently secured funding deal worth R2.5 billion, which will be used to build a data centre in Ekurhuleni.
Teraco CEO Samuel Erwin told Gauteng News a group of lenders and ABSA bank are funding the project. He said Teracois the largest data provider in Africa.
“We have noticed a growing demand of companies wanting to access our corporate data.They also want to reach our centres and stores in which we offer connections for global tech firms like Amazon, Google and Microsoft. In 2020 we started working on a new facility costing R4 billion and our entire project will be complete in 2022. A total of R1.5 billion will come from Teraco’s reserves and cash”, said Erwin.
Erwin said Teraco is a private company and data specialist. He said they are comfortable with terms of funding agreement between them and lenders.
“We are working with investors such as Berkshire Partners Private Equity and Permira investment firm based in United Kingdom. In recent years, a lot of companies want access to our centres in order to store and process huge amounts of data. We currently have a new site called JB4 which is close to Teraco’s Bredell facility. Our aim is to become a biggest stand-alone data centre in Africa”, he added.
