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Dimension Data Nigeria says it has completed the execution of its N20 billion bond programme under Dimension Data SPV Funding Plc, following regulatory approval from the Securities and Exchange Commission (SEC).
The signing ceremony, which formalised the programme documentation and regulatory clearances, was held in Lagos, recently.
The company said the capital raise is aimed at strengthening long-term infrastructure capacity and positioning the business for sustainable growth amid rising data demand.
Managing Director of Dimension Data Nigeria, Gbenga Olabiyi, said sustained infrastructure investment remains critical to maintaining competitiveness in an increasingly digital economy.
According to him, strategic deployment of capital into digital infrastructure will help secure operations, enhance scalability and support the growing complexity of enterprise data needs.
Nigeria continues to grapple with significant digital infrastructure gaps, including limited metro and access fibre coverage, constrained enterprise connectivity and rising demand driven by cloud adoption, fintech expansion, digital public services and artificial intelligence.
Industry analysts noted that these constraints have contributed to higher operating costs, reduced service quality and slower digital transformation across key sectors.
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Olabiyi said the bond programme is structured to expand critical digital infrastructure capacity, strengthen network resilience and support enterprise and carrier-grade services required to meet Nigeria’s growing connectivity needs.
He also commended the company’s advisers and partners for their support throughout the transaction process, adding that Dimension Data will continue to work closely with them in subsequent funding phases.
Managing Partner of Mbavaa Partners Limited, Shatse Kakwagh, whose firm backs Dimension Data, described the transaction as a significant milestone and an affirmation of the company’s long-term infrastructure strategy.
He said the programme provides access to appropriate capital to fund the company’s planned expansion and address Nigeria’s infrastructure deficit, adding that investor appetite for the issuance reflects confidence in the company’s execution capacity.
According to him, the programme received positive ratings, while the first market issuance was heavily oversubscribed.
Advisers to the transaction include Pathway Advisors Limited as book runner; Greychapel Legal and Alliance Law Firm as solicitors; CardinalStone Registrars Limited and STL Trustees Limited as registrar and trustees; Deloitte & Touche as reporting accountant alongside Mascot Okpori & Co as auditors; Fidelity Bank as receiving bank, and Agusto & Co as rating agency.
