Dimension Data Raises ₦4.05 Billion to Expand Fibre Infrastructure in Nigeria

Anibel Adjei
August 4, 2026
Business, Tech

Follow Nukunya

Get the latest breaking news and updates from Nukunya.

Follow on Google Join WhatsApp

Dimension Data Raises ₦4.05 Billion to Expand Fibre Infrastructure Across Nigeria

Dimension Data Limited has successfully raised ₦4.05 billion through its first corporate bond issuance to accelerate the expansion of its fibre infrastructure and strengthen digital connectivity across Nigeria.

The successful issuance marks the first tranche of the company’s ₦20 billion bond programme, with the newly raised funds dedicated to expanding its fibre network to support growing demand for high-speed internet and digital services.

Investment to Strengthen Nigeria’s Digital Economy

Speaking at the bond signing ceremony, Managing Director Olugbenga Olabiyi said the funding represents an important milestone in the company’s mission to drive Nigeria’s digital transformation.

According to him, the investment reflects the confidence investors and partners have placed in Dimension Data’s long-term vision of building critical digital infrastructure that supports businesses, innovation, and economic growth.

Olabiyi also expressed appreciation to the company’s customers, board members, partners, and advisers, including Pathway Advisors Limited, Deloitte, STL, Fidelity Bank, FCMB, and FSDH Capital, for supporting the successful transaction.

First Step in a ₦20 Billion Bond Programme

The ₦4.05 billion Series 1 bond is the first issuance under Dimension Data’s broader ₦20 billion fundraising programme, which is expected to finance continued investments in fibre infrastructure across Nigeria.

Managing Partner of Mbavaa Partners Limited and Director of Dimension Data SPV Limited, Shatse Kakwagh, described the achievement as the result of nearly two years of collaboration among stakeholders.

He noted that the successful fundraising demonstrates strong market confidence in the company’s growth strategy and provides the foundation for its next phase of expansion.

Investors Show Confidence Despite Market Conditions

Founder and Chief Executive Officer of Pathway Advisors Limited, Adekunle Alade, commended both Dimension Data and investors for making the transaction successful.

He noted that participation from high-net-worth investors reflects strong confidence in the company’s future despite the current investment environment, where many investors prefer shorter-term opportunities.

Fibre Expansion to Support Businesses and Fintech Growth

Dimension Data said the funds will be used to expand its fibre network to meet increasing demand from:

Financial institutions
Fintech companies
Enterprise customers
Technology-driven businesses

The company believes continued growth in cloud computing, digital financial services, and data-intensive applications will significantly increase demand for reliable fibre infrastructure, making network expansion essential to supporting Nigeria’s evolving digital economy.