Cassava Technologies, a pan-African technology leader, has announced the successful raise of $310 million in capital, to solidify its position as a global technology company of African heritage.
The financing includes a $90 million equity investment from world-class partners: the U.S. International Development Finance Corporation (DFC), Google, and Finnfund. These investors join an esteemed group of existing shareholders, including Econet Group, British International Investment (BII), Public Investment Corporation (PIC), Royal Bafokeng Holdings, Gateway Partners, and African Export-Import Bank (Afreximbank).
In addition, Cassava’s business subsidiary, Liquid Intelligent Technologies, has signed a USD 220 million equivalent ZAR debt refinancing agreement, with support from leading financial institutions Standard Bank Group, RMB (Rand Merchant Bank), Nedbank, and the International Finance Corporation (IFC).
According to Cassava Technology’s CEO, Hardy Pemhiwa, this milestone funding comes at a time that Cassava executes its strategic transformation into an integrated digital solutions platform, delivering:
• Broadband Connectivity
• Co-location (Data Centres)
• Cloud Services
• Cybersecurity
• AI Computing
• Fintech Services
These offerings are aimed at driving digital inclusion and innovation across Africa, ensuring no African is left behind in the digital future.
Pemhiwa stated “We are thrilled to secure this $310 million in financing, which underscores the confidence of global investors in our vision and execution. The equity investment and debt refinancing not only strengthen our balance sheet but also fuel our mission to accelerate Africa’s digital transformation. This support reflects trust in our teams, the loyalty of our customers, and the belief of our partners and shareholders in building a digitally connected Africa.”
The new capital will enable Cassava Technologies to scale its operations, invest in innovative solutions, and expand its footprint across key markets, aligning with its commitment to creating a digitally inclusive, future-ready continent.
