Dimension Data Nigeria Raises N20bn for Digital Infrastructure

Dimension Data Nigeria has successfully raised N20 billion via a bond program through Dimension Data SPV Fund PLC, following approval from the Securities and Exchange Commission (SEC). This capital raise is intended to support long-term investments critical for Nigeria's digital economy, particularly in addressing infrastructure deficits such as power supply.

Gbenga Olabiyi, Managing Director of Dimension Data Nigeria, emphasized that the capital raise focuses on long-term value creation, as current operational cost constraints are weakening service quality and slowing digital transformation. The bond program, which was heavily oversubscribed, signals strong investor confidence in the company's strategic execution.

The transaction involved several financial professionals, including Mbavaa Partner Limit and Shats Kakwagh. The Nigerian government plans to execute the project through a public-private partnership model, retaining a 25-49% stake in the special purpose vehicle (SPV), which will operate independently with a board of directors experienced in telecommunications and infrastructure finance.