Dimension Data Nigeria has raised ₦20 billion through a newly executed bond programme to expand critical digital infrastructure and enhance enterprise connectivity across Nigeria.
The bond programme, executed under Dimension Data SPV Funding Plc following approval from the Securities and Exchange Commission, was formalised during a signing ceremony at the Capital Club, Victoria Island, Lagos.
Managing Director Gbenga Olabiyi said the capital raise is intended to support long-term infrastructure investment, strengthen network resilience, and ensure the company remains competitive in a rapidly evolving digital economy driven by rising demand for data, cloud services, and artificial intelligence.
Nigeria continues to face gaps in metro and access fibre coverage and enterprise connectivity, which have increased operating costs, limited service quality, and slowed digital transformation. The bond programme aims to bridge these deficits and provide robust infrastructure for carrier-grade and enterprise services.
The company’s private equity backer, Mbavaa Partners Limited, represented by Shatse Kakwagh, described the bond issuance as a milestone that validates Dimension Data’s long-term infrastructure strategy, noting strong investor interest and an oversubscribed first market issuance.
Advisers to the transaction included 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 and Mascot Okpori & Co as accountants and auditors; Fidelity Bank as receiving bank; and Agusto & Co as rating agency.
The initiative highlights the growing role of private capital in closing Nigeria’s digital infrastructure gap and supporting the expansion of the country’s digital economy.
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