Dimension Data Secures N20bn for Digital Expansion

Dimension Data has successfully raised N20 billion through a newly executed bond program, following approval from the Securities and Exchange Commission. The signing ceremony took place at the Capital Club in Victoria Island, Lagos.

Managing Director Gbenga Olabiyi emphasized that the capital raised will focus on long-term value creation and infrastructure investment, essential for maintaining competitiveness in Nigeria's rapidly evolving digital economy. The bond program aims to expand critical digital infrastructure, strengthen enterprise connectivity, and support the growing demand for data, cloud services, and artificial intelligence.

The initiative is particularly important as Nigeria faces significant digital infrastructure gaps, including limited metro access and fiber coverage. The bond program received strong support from rating agencies and was heavily oversubscribed, reflecting investor confidence in Dimension Data's growth prospects.

The advisory team for the transaction included Pathway Advisors Limited and Greychapel, with legal support from Cardinalston and Deloitte.