Nigeria’s Dimension Data Raises $2.9m to Expand Fibre Infrastructure

July 28, 2026
By Mintesinot Nigussie

Dimension Data Limited has raised N4.05 billion (about 2.9 million US dollars) through the issuance of its first corporate bond to support the expansion of its fibre infrastructure network in Nigeria. The Series 1 bond represents the first tranche of the company’s N20 billion (about 14.7 million US dollars) bond programme, with proceeds expected to finance investments aimed at meeting rising demand for digital connectivity across Nigeria.

The company completed the signing ceremony following the successful subscription of the bond, which attracted participation from investors supporting the expansion of digital infrastructure in Africa’s largest economy. Olugbenga Olabiyi, Managing Director of Dimension Data Limited, said the fundraising reflected the company’s commitment to strengthening Nigeria’s digital economy.

“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,” Olabiyi said. He thanked the company’s customers, partners, board members and transaction advisers, including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB and FSDH Capital, for their support in completing the transaction.

Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, said the bond issuance marked the completion of a two-year process built on collaboration and investor confidence. “Today’s achievement validates the quality of work being done by the Dimension Data team and the market’s confidence in the company’s growth strategy,” Kakwagh said. He added that the financing would support the company’s next phase of expansion, saying the transaction represented the start of a larger growth programme.

Adekunle Alade, Founder and Chief Executive Officer of Pathway Advisors Limited, the lead issuing house and book runner, said investor participation demonstrated confidence in Dimension Data’s long-term growth prospects despite a market environment where investors have generally favoured shorter-term assets. The funds will be directed towards expanding Dimension Data’s fibre network to serve growing demand from financial institutions, fintech companies, enterprise customers and other technology-focused businesses.

Source: FSX Business News