Cassava Technologies is set for expansion following securing of $90 million in equity investment from prominent global institutions such as the US Int
Cassava Technologies is set for expansion following securing of $90 million in equity investment from prominent global institutions such as the US International Development Finance Corporation, FinnFund, and Google.
This investment is part of a $310 million package, including successful South African Rand debt financing and organizational restructuring. It underscores growing international confidence in the continent’s potential for digital transformation.
Liquid Intelligent Technologies, a core subsidiary, secured multi-tenor facilities worth $220 million in South African Rands from prominent financial institutions like Standard Bank, Rand Merchant Bank, Nedbank, and the International Finance Corporation.
Digital infrastructure
The company operates through several business units, addressing key components of digital infrastructure including liquid intelligent, Africa Data Centres, Liquid C2, Cassava.ai, Sasai Fintech. The financial backing equips Cassava Technologies to accelerate its mission of addressing the digital infrastructure gaps across Africa.
Investments will enhance broadband networks, expand data centre capacities, and improve service delivery in Africa, the Middle East, India, and Latin America. The integrated approach enables solutions that cater to the unique needs of different regions, driving localized digital transformation.
Hardy Pemhiwa, Cassava Group CEO and President, highlighted the strategic importance of these developments. The combination of equity investment, debt financing, and restructuring positions the company as a leader in enabling digital transformation across its operational markets.