The series B funding, which forms the first tranche, came from Africa50, an African infrastructure investment platform.
The firm, which currently operates two data centers in Kenya and Ghana, will fund the company’s expansion and growth plans into new African data centre markets.
Technology has emerged as an important sub-section of companies owing to the adoption of the digital economy which was accelerated by Covid-19 restrictions that were introduced in 2020.
Pan-African cloud provider PAIX Data Centres has received $20 million (Sh2.3 billion) funding to expand its services across the continent.
The series B funding, which forms the first tranche, came from Africa50, an African infrastructure investment platform.
The firm, which currently operates two data centers in Kenya and Ghana, will fund the company’s expansion and growth plans into new African data centre markets.
“With the support of Africa50, we will be able to grow and expand our activities by rolling out our data centre services across the continent and by providing a one-stop service to our local and international customers in all key locations across the African continent,” PAIX’s chief executive officer Wouter van Hulten said.
Technology has emerged as an important sub-section of companies owing to the adoption of the digital economy which was accelerated by Covid-19 restrictions that were introduced in 2020.
Companies are now investing in data facilities to enable them host customers and service data to ensure seamless transactions.
The high cost of running an in-house data centre has forced a majority of firms to turn to third-party facilities that are affordable.
“Our colocation services provide our clients choice of connectivity providers, high security, and continuous uptime,” Mr Hulten said
“Our teams consist of both local and international industry professionals, and we are proud of the multi-national makeup of our company, reflecting the diversity of the continent.”
PAIX Data Centres was advised on the transaction by Bravura Capital as its financial advisor and Van Doorne as its legal advisor. Africa50 was advised by Allen & Overy.
Africa50 managing director and head of infrastructure investments Raza Hasnani said that their mission is to build up Africa’s data centre and internet exchange infrastructure.
“This digital infrastructure improvement will result in greater accessibility, connectivity, and lower internet and data costs, which will contribute to the use and affordability of internet and wireless data for African consumers across the continent.”
Africa50 currently has 31 shareholders comprising 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.
