Dimension Data raises N4.05 billion in first tranche of N20 billion bond programme

Dimension Data Limited has completed the signing ceremony for the issuance of N4.05 billion (approximately US$2.9 million), marking the first tranche of its N20 billion (US$14.7 million) bond programme, following the successful subscription of its Series 1 corporate bond.

Speaking at the signing ceremony, Mr. Olugbenga Olabiyi, Managing Director of Dimension Data Limited, said the investment reflects the company’s long-term commitment to strengthening Nigeria’s digital economy.

According to him, the proceeds will support the expansion of the company’s fibre infrastructure to meet Nigeria’s growing demand for digital connectivity.

What they are saying:

At the signing ceremony, the management team of Dimension Data stated that the milestone corporate issuance reflects the confidence of partners and investors in the company’s vision, and acknowledged the contributions of the Board, advisers, transaction partners, FSDH Capital, Pathway Advisors, and other stakeholders who supported the successful execution of the transaction.

• “Beyond delivering technology solutions, we work every day to strengthen Nigeria’s digital economy. We look forward to translating these investments into infrastructure that supports businesses, innovation and national digital transformation,” Olabiyi said.

Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, described the transaction as the culmination of a two-year journey built on collaboration and market 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. This funding is not the destination — it is the beginning of an even bigger journey,” Kakwagh said.

More insights:

The Series 1 issuance represents just over 20% of Dimension Data’s broader N20 billion bond programme, leaving room for further tranches as the company continues its fibre expansion drive.

The planned investments will fund the continued expansion of Dimension Data’s fibre network, supporting increasing demand from financial institutions, fintechs, enterprise customers, and other technology-driven sectors.

As cloud adoption, digital financial services, and data-intensive applications continue to grow, the company believes resilient fibre infrastructure will remain a critical enabler of Nigeria’s digital economy.

The transaction drew participation from high-net-worth investors, a segment Pathway Advisors noted showed strong confidence in the company’s long-term prospects even as broader market appetite has recently skewed toward shorter-tenor instruments.

What you should know:

The transaction adds Dimension Data to a growing list of Nigerian corporates tapping the debt capital markets for infrastructure financing in 2026, joining issuers across telecommunications, real estate, and power sectors who have turned to bonds and commercial papers to fund expansion.

With N15.95 billion still available under the N20 billion programme, the company is positioned to return to the market for subsequent tranches as it continues scaling its fibre infrastructure to meet rising demand from Nigeria’s expanding digital economy.

The successful completion of this first tranche signals sustained investor appetite for well-structured corporate debt in the technology and infrastructure space, even as broader fixed income markets continue to compete for investor capital amid Nigeria’s high interest rate environment.