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Econet founder Strive Masiyiwa secures $100m investment in Nigeria data center

The Founder and Executive Chairman of Econet Global Limited, Strive Masiyiwa has disclosed that Africa Data Centre has commenced the construction of what it says will be Nigeria’s biggest Data Centre.

The London-based Zimbabwean billionaire who asserted that a pandemic can’t stop the next phase of technology in Africa made this disclosure in an official pronouncement which he made public via his official Facebook account.

He disclosed that the group had acquired a 5-acre piece of land in Lagos, where the facility, one of the largest buildings in the city would be constructed.

The centre which he called the ADC Atlantic, is a $100 million investment in the Nigerian economy,

He added that in Data Centre terms, the facility will be the single largest Data Centre in Africa outside South Africa.

According to information which Nairametrics has gathered, architects and engineers have been working at the facility for months. However, the contractors are yet to commence work fully.

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Mr. Masiyiwa said:

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Mr Masiyiwa also disclosed that the group received the approval of an investment of $300m from the United States government’s International Development Finance Corporation known as DFC

He explained that the fund will allow ADC to expand its facilities in South Africa and Kenya, and also build new facilities in Egypt, Ghana, and Morocco. He added that the group had raised $500m this year for ADC.