Dimension Data Limited has raised N4.05 billion in the first tranche of its N20 billion bond programme to expand its fibre infrastructure and boost digital connectivity across Nigeria.
The company completed the signing ceremony for the Series 1 corporate bond after a successful subscription, securing N4.05 billion, the first tranche of its planned N20 billion bond programme.
Dimension Data said it will use the proceeds to expand its fibre network as demand for reliable digital connectivity grows across Nigeria.
The investment will support businesses, financial institutions, fintechs and other technology-driven sectors that depend on high-speed broadband infrastructure.
The Managing Director of Dimension Data Limited, Olugbenga Olabiyi, said the successful fundraising reflects investors’ confidence in the company’s long-term vision for Nigeria’s digital economy.
He said the company remains committed to building infrastructure that supports businesses, innovation and national digital transformation.
Olabiyi also thanked customers, partners, board members and advisers, including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB and FSDH Capital, for supporting the transaction.
The Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, Shatse Kakwagh, described the bond issuance as the result of two years of collaboration and strong market confidence.
He said the successful transaction validates Dimension Data’s growth strategy and marks the beginning of a broader expansion plan.
Kakwagh also acknowledged the contributions of the board, advisers, FSDH Capital, Pathway Advisors and other stakeholders involved in executing the deal.
Also, the Founder and Chief Executive Officer of Pathway Advisors Limited, Adekunle Alade, thanked Dimension Data for appointing the firm as Lead Issuing House and Book Runner.
He also commended the high-net-worth investors who subscribed to the bond, saying their participation reflected confidence in the company’s long-term growth despite prevailing investor preference for shorter-term investments.
However, Dimension Data said the planned investments will strengthen its fibre infrastructure to meet rising demand driven by cloud computing, digital financial services and other data-intensive applications, positioning the company to support Nigeria’s expanding digital economy.
