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PAIX Data Centres yesterday announced the completion of Africa50’s equity investment of USD 20 million into PAIX Data Centres (PAIX). This funding forms the first tranche of PAIX’s Series B financing by Africa50, which will be used to fund the company’s data centre capacity expansion and growth plans into new African data centre markets.
Since its founding in 2016, PAIX has gained a strong reputation for its data centre facilities with high levels of operational efficiency and service quality in coveted central locations with high fibre connectivity. PAIX currently operates two data centre facilities: one in Accra, Ghana, and another in Nairobi, Kenya.
The new equity financing secured from Africa50, as PAIX’s first institutional investor, is a significant milestone for the company to pursue its growth opportunities across Africa and in line with Africa50’s commitment to invest in businesses and ecosystems that support Africa’s digital transformation.
PAIX’s CEO, Wouter van Hulten, commented; “PAIX Data Centres is leading the development and operation of world-class cloud-and-carrier-neutral data centres in Africa. PAIX’s interconnection hubs are the heart of Africa’s digital economy and key to its further development. Our colocation services provide our clients choice of connectivity providers, high security, and continuous uptime. 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. 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.”
“We are very pleased to partner with PAIX in its mission to build up Africa’s data centre and internet exchange infrastructure”, said Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50. “PAIX’s current and future data centres will have a strong multiplier effect on many African economies as they drive increased access to information, innovation and knowledge, at reduced data costs which will, in turn, facilitate new economic opportunities and higher productivity”.
Mr. Hasnani added that “despite the well-known benefits from increased data centre colocation capacity, the African data centre colocation market is still significantly underpenetrated for a continent with a population of over 1.3 billion and total data centre capacity of only about 300 MW, which is approximately equivalent in capacity to a single European internet hub such as Paris. 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.”
PAIX Data Centres was advised on this transaction by Bravura Capital as its financial advisor and Van Doorne as its legal advisor. Africa50 was advised by Allen & Overy.
