African data center company Teraco Data Environments are all set to undergo expansion at their campus in Johannesburg, South Africa. With this expansion, Teraco seeks to cater to the rising demand for data center services as a result of the internet boom and cloud adoption in the region.
According to Teraco, businesses are taking Africa as a serious investment option with the likes of Netflix and Facebook looking to reach the more remote pockets of the continent. They say that in addition to this, tech giants like Microsoft and IBM are also looking to scale their storage for cloud computing services.
Keeping these developments in perspective, Teraco say that they decided to expand their data center campus at South Africa by investing USD 73 million to build a state-of-the-art facility. Speaking about the investment, Jan Hnizdo, Chief Financial Officer at Teraco Data Environments, commented:
Funding has come from a debt facility provided by Barclays Africa Group Ltd., also known as Absa, which is lending as much as 1.8 billion rand (USD 73 million). Absa is a trusted business partner and a significant part of Teraco’s success. Absa understands our unique business model and the associated infrastructure funding requirements and timelines.
In closing, the data center operator said that the facility will commence expansion work soon enough.