By Juliet Umeh

Dimension Data Nigeria has formally executed its N20 billion Bond Programme under Dimension Data SPV Funding Plc, following approval from the Securities and Exchange Commission, SEC.

The signing ceremony, which marked the completion of programme documentation and regulatory clearances, was held at the Capital Club, Victoria Island, Lagos, signalling the company’s entry into a new phase of long-term infrastructure financing.

Speaking during the ceremony, Managing Director of Dimension Data Nigeria, Gbenga Olabiyi, said the capital raise is strategically focused on long-term value creation and infrastructure resilience.

“Sustained infrastructure investment is essential to maintaining competitiveness and unlocking future growth,” Olabiyi said. “When deployed thoughtfully, infrastructure secures the business, future-proofs operations, and allows efficient scaling as data demand and complexity increase.”

Nigeria continues to grapple with significant digital infrastructure gaps, including limited metro and access fibre coverage, constrained enterprise connectivity, and surging demand driven by cloud adoption, fintech expansion, digital public services and artificial intelligence. Industry experts say these constraints increase operating costs, weaken service quality, and slow the pace of growth in the country’s digital economy.

Olabiyi explained that the bond programme is designed to expand critical digital infrastructure capacity, strengthen network resilience, and support enterprise and carrier-grade services required to meet Nigeria’s growing data and connectivity needs.

He also expressed appreciation to the company’s advisers and partners for their professionalism and support throughout the transaction, adding that Dimension Data intends to maintain close collaboration with them as it moves into subsequent phases of funding and execution.

In his remarks, Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited, the private equity firm backing Dimension Data Limited, described the transaction as a watershed moment and a validation of the company’s long-term infrastructure strategy.

“This is a journey we began years ago, and it proves that the opportunities we see in the market can be realised,” Shatse said. “We believe strongly in working with partners to address the critical infrastructure deficit in Nigeria and across Africa. This programme enables us to secure the right type of capital to finance the aggressive growth we have planned.”

He further disclosed that the bond programme received a strong vote of confidence from rating agencies, while the company’s first market issuance was heavily oversubscribed, reflecting investor confidence in Dimension Data’s execution capacity and long-term outlook.

The transaction advisers on the bond programme include Pathway Advisors Limited as Book Runner; Greychapel Legal and Alliance Law Firm as Solicitors; CardinalStone Registrars Limited and STL Trustees Limited as Registrar and Trustees; Deloitte & Touche as Reporting Accountant alongside Mascot Okpori & Co as Auditors; Fidelity Bank as Receiving Bank; and Agusto & Co as Rating Agency.

The N20 billion bond programme is expected to strengthen Dimension Data Nigeria’s position in delivering scalable, resilient and future-ready digital infrastructure, at a time when demand for high-capacity connectivity and enterprise-grade services continues to accelerate across the country.