Dimension Data raises N4.05bn in Nigerian fibre bond
Dimension Data has priced the first tranche of a N20 billion bond programme to fund fibre expansion, demonstrating that Nigerian high-net-worth investors still back long-tenor tech infrastructure debt despite a high-interest-rate environment.
Dimension Data Limited has raised N4.05 billion in the first tranche of a N20 billion corporate bond programme, earmarking the capital to expand its fibre network across Nigeria. The Series 1 issuance was subscribed by high-net-worth investors, securing roughly 20% of the total programme's capacity. FSDH Capital and Pathway Advisors managed the transaction.
The pricing stands out against the prevailing market backdrop in Nigeria, where elevated interest rates have recently pushed broader fixed-income appetite toward shorter-tenor instruments. By attracting capital for longer-dated corporate debt, Dimension Data pushed against a market skew that typically favours shorter durations. It joins a growing roster of Nigerian corporates across telecommunications, real estate, and power turning to the debt capital markets for infrastructure financing in 2026.
Proceeds from the bond will be deployed to build out fibre infrastructure to support rising demand from financial institutions, fintechs, and enterprise clients. As cloud adoption and data-intensive financial services expand rapidly across the country, resilient network capacity has become a critical enabler for digital growth. Dimension Data is positioning its network directly to service this surging enterprise demand.
“Beyond delivering technology solutions, we work every day to strengthen Nigeria’s digital economy. We look forward to translating these investments into infrastructure that supports businesses, innovation and national digital transformation,” said Olugbenga Olabiyi, Managing Director of Dimension Data Limited.
Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited and a director of Dimension Data SPV Limited, noted the milestone capped a two-year structuring effort. “Today’s achievement validates the quality of work being done by the Dimension Data team and the market’s confidence in the company’s growth strategy. This funding is not the destination — it is the beginning of an even bigger journey,” Kakwagh said.
With N15.95 billion still authorised under the programme, the company has the runway to return to the market for subsequent tranches. How quickly it taps the remaining capacity will likely depend on its deployment pace and prevailing rate conditions. For now, the initial tranche establishes a viable funding template for its infrastructure rollout.
