Angola: Paratus secures $31 million debt facility to fund expansion plans

Pan-African firm Paratus has secured a new debt facility worth $31 million from Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and its fund manager, Ninety One. This credit facility dedicated to the expansion of its fiber and data center businesses will help finance the construction of a 10MW data center in Angola, as well as three new fiber routes connecting Walvis Bay-Johannesburg-Maputo, Brazzaville-Johannesburg-Maputo, and Luanda-Lusaka-Dar Es Salaam.

Sine Zulu, investment specialist at Ninety One, said, “This financing is a key demonstration of the growing demand for connectivity and data on the continent. EAIF’s structuring expertise and ability to mobilize private capital into digital infrastructure in emerging economies has enabled finance to flow where it is needed most.”

Schalk Erasmus, Paratus CEO, added, “Widening access to fiber and data centers in key African markets will progress development and inclusive growth. EAIF and Ninety One’s commitment sends the right signal to the rest of the market and reinforces our mission to support a more connected and technologically advanced Africa.”