South Africa: Cassava Technologies to invest $250 million in new digital projects in South Africa

The South African digital sector will undergo profound changes in the coming months. After Amazon’s commitment to invest in technological services, it is the turn of Cassava Technologies to unveil its bet.

Cassava Technologies, an African technology company founded by Zimbabwean billionaire Strive Masiyiwa, announced on Friday (April 14th) that it has committed to invest 4.5 billion rand ($250 million) in its South African operations over the next two years. The initiative was unveiled at the fifth South Africa Investment Conference (SAIC) held the previous day in Johannesburg.

The investment, which will be made through Cassava Technologies’ business units, aims to support the expansion of Liquid Intelligent Technologies’ fibre optic network, the expansion of African data centre capacity and footprint, enhanced cloud and cybersecurity capacity, and the deployment of clean, renewable energy by Distributed Power Africa in South Africa.

« South Africa accounts for the largest share of Africa’s industrial GDP, with a sophisticated and growing ICT sector. The unique combination of highly developed first-world economic infrastructure and a stable macroeconomic environment provides businesses like ours with a conducive investment environment in which we can partner with government to drive economic development and create jobs,” said Hardy Pemhiwa, Group President and CEO of Cassava Technologies.

Cassava Technologies’ initiative is therefore in line with President Cyril Ramaphosa’s goal of boosting the country’s economy and attracting R2 trillion of investment over the next five years to support overall national development goals.

Rappelons que Cassava Technologies compte huit filiales, à savoir Liquid Intelligent Technologies, Liquid Dataport, Liquid C2, Africa Data Centres, Distributed Power Africa, Sasai Fintech, Telrad et Vaya Technologies.