Dimension Data Nigeria has raised N20bn under a newly executed bond programme to strengthen digital infrastructure and enterprise connectivity across the country. The capital raise comes at a time when demand for data services, cloud computing and artificial intelligence is rising rapidly across multiple sectors of the Nigerian economy.
The bond was executed under Dimension Data SPV Funding Plc after securing approval from the Securities and Exchange Commission. The formal signing ceremony, which marked the completion of regulatory documentation and clearances, took place at the Capital Club in Victoria Island, Lagos. The successful execution of the programme positions the company to accelerate investment in critical infrastructure required to support Nigeria’s expanding digital ecosystem.
According to the Managing Director, Gbenga Olabiyi, the N20bn raise is focused on long-term infrastructure development that will enable the company to remain competitive in a fast-changing digital landscape. He explained that sustained infrastructure investment is necessary to secure business operations, support scalability and manage increasing data complexity. As enterprises grow and digital services expand, the need for resilient and scalable infrastructure becomes more urgent.
Nigeria continues to experience infrastructure gaps, particularly in metro fibre networks, access fibre coverage and enterprise-grade connectivity. These limitations have contributed to higher operating costs and service constraints for businesses that rely on reliable digital networks. With fintech companies, cloud service providers and digital public platforms driving higher data consumption, the pressure on existing infrastructure has intensified.
The N20bn bond programme is designed to address these challenges by expanding network capacity, improving resilience and supporting carrier-grade services. The company aims to enhance the backbone that powers enterprise connectivity, helping businesses operate more efficiently and securely. By deploying the raised capital strategically, Dimension Data Nigeria intends to strengthen its infrastructure footprint and support the country’s broader digital transformation goals.
The transaction received strong backing from investors. The first market issuance under the programme was reportedly oversubscribed, indicating confidence in the company’s growth strategy and execution capability. Support from rating agencies also reinforced investor assurance in the structure and outlook of the programme.
Private equity firm Mbavaa Partners Limited, which backs Dimension Data Nigeria, described the fundraising as a major milestone in its long-term infrastructure strategy. The firm noted that securing the right type of capital is essential for financing ambitious expansion plans aimed at addressing infrastructure deficits in Nigeria and across Africa.
Advisers involved in the transaction include Pathway Advisors Limited as bookrunner, Greychapel Legal and Alliance Law Firm as solicitors, CardinalStone Registrars Limited and STL Trustees Limited as registrar and trustees, Deloitte & Touche as reporting accountant, Mascot Okpori & Co as auditors, Fidelity Bank as receiving bank, and Agusto & Co as rating agency.
The N20bn bond raise highlights the growing role of private capital in supporting Nigeria’s digital infrastructure development and strengthening the foundation of its digital economy.
