Pan-African firm Paratus has secured a new debt facility to fund its expansion plans.
Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and its fund manager, Ninety One, have committed a $31 million debt facility to Paratus to finance the expansion of its fiber and data center business over the next three years.
The funds will help finance the construction of a 10MW data center in Angola, as well as three new fiber routes connecting Walvis Bay-Johannesburg-Maputo, Brazzaville-Johannesburg-Maputo, and Luanda-Lusaka-Dar Es Salaam.
Ninety One acted as the mandated lead arranger of the transaction, mobilizing capital from two of its funds, EAIF and Ninety One Africa Credit Opportunities.
Source : Data Center