Dimension Data Limited raises N4.05bn in first tranche of N20bn bond programme

Following the successful subscription of its Series 1 corporate bond, Dimension Data Limited has completed the signing ceremony for the issuance of N4.05 billion (approximately $2.9 million), marking the first tranche of its N20 billion ($14.7 million) bond programme.

 

The proceeds will support the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity.

Speaking at the ceremony, Olugbenga Olabiyi, managing director of Dimension Data Limited, said the investment reflects the company’s long-term commitment to strengthening 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,” Olabiyi stated.

 

Read also: Cardoso, Okonjo-Iweala to lead Africa resilience talks at Abuja economic Forum

He thanked 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.

Shatse Kakwagh, managing partner of Mbavaa Partners Limited and director of Dimension Data SPV Limited, described the transaction as the culmination of a two-year journey built on collaboration and market confidence.

“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,” Kakwagh posited.

He acknowledged the contributions of the board, advisers, transaction partners, FSDH Capital, Pathway Advisors and other stakeholders who supported the successful execution of the transaction.

Adekunle Alade, founder and chief executive officer of Pathway Advisors Limited, the Lead Issuing House and Book Runner, thanked Dimension Data for its confidence in the firm and expressed appreciation to the high-net-worth investors who participated in the issuance, noting that their support demonstrated strong confidence in the company’s long-term growth prospects despite prevailing preferences for shorter-term investments.

The planned investments will fund the continued expansion of Dimension Data’s fibre network, supporting increasing demand from financial institutions, fintechs, enterprise customers and other technology-driven sectors. As cloud adoption, digital financial services and data-intensive applications continue to grow, the company believes resilient fibre infrastructure will remain a critical enabler of Nigeria’s digital economy.