Dimension Data Limited has completed the signing ceremony for the first tranche of its N20 billion bond programme, raising N4.05 billion (approximately US$2.9 million) following a successful subscription of its Series 1 corporate bond. The Lagos-based technology infrastructure company said the proceeds will fund the expansion of its fibre network across Nigeria to meet rising demand for digital connectivity.
The transaction marks a significant step in the company’s strategy to strengthen critical digital infrastructure. Speaking at the ceremony, Managing Director Olugbenga Olabiyi described the milestone as a reflection of long-term commitment to Nigeria’s digital Economy. “Beyond delivering technology solutions, we work every day to strengthen Nigeria’s digital economy,” Olabiyi said. “This milestone reflects the confidence of our partners and investors in our vision, and we look forward to translating these investments into infrastructure that supports businesses, innovation and national digital transformation.”
Olabiyi acknowledged the support of customers, partners, board members, and advisers including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB, and FSDH Capital.
Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, characterized the issuance as the culmination of a two-year effort 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,” Kakwagh said. “This funding is not the destination – it is the beginning of an even bigger journey.” He also recognized contributions from the board, advisers, transaction partners, FSDH Capital, Pathway Advisors, and other stakeholders.
Adekunle Alade, Founder and Chief Executive Officer of Pathway Advisors Limited, which served as Lead Issuing House and Book Runner, thanked Dimension Data for its confidence and expressed appreciation to the high-net-worth investors who participated. Alade noted their support demonstrated strong conviction in the company’s long-term growth prospects despite prevailing market preferences for shorter-term instruments.
The planned investments will fund continued expansion of Dimension Data’s fibre network, targeting growing demand from financial institutions, Fintechs, enterprise customers, and other technology-driven sectors. As cloud adoption, digital financial services, and data-intensive applications accelerate, the company maintains that resilient fibre infrastructure remains a critical enabler of Nigeria’s digital economy.
The N20 billion programme positions Dimension Data to scale its infrastructure footprint amid increasing reliance on high-capacity connectivity across key economic sectors.
