Dimension Data has completed the first tranche of its N20 billion corporate bond programme by issuing N4.05 billion (approx. US$2.9 million) in debt.
Speaking during the signing ceremony, Dimension Data Managing Director Olugbenga Olabiyi said the investment underscores the company’s commitment to supporting Nigeria’s digital economy through critical infrastructure.
“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,” he said.
The company said the proceeds from the bond will fund the continued rollout of its fibre network as demand for cloud services, digital financial platforms and other data-intensive applications continues to grow.
Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, described the transaction as the result of a two-year effort and a vote of confidence in the company’s long-term growth strategy.
Adekunle Alade, Founder and CEO of Pathway Advisors Limited, the Lead Issuing House and Book Runner, noted that the strong participation from high-net-worth investors reflected confidence in Dimension Data’s future despite broader market preference for shorter-term investment opportunities.
With the first tranche now completed, Dimension Data is expected to continue investing in resilient digital infrastructure aimed at supporting Nigeria’s rapidly expanding technology ecosystem and enterprise connectivity needs.
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