Cassava Technologies Strengthens Financial Position with Major Repayment and New Funding
Liquid Intelligent Technologies, a subsidiary of Cassava Technologies, has announced significant financial updates that reinforce its capital structure and position for future growth. The company confirmed the full repayment of its ZAR term loan and USD revolving credit facility, demonstrating a strong financial management strategy.
New Funding Secured for Future Growth
In conjunction with this repayment, Liquid Intelligent Technologies has secured $410 million in new ZAR and USD credit facilities from a consortium of commercial and development finance lenders. Furthermore, Cassava Technologies is injecting an additional $195 million in fresh capital into Liquid, enhancing its liquidity and operational capabilities.
Hardy Pemhiwa, President and Group CEO of Cassava Technologies, noted: “These transactions, alongside the recent sale of a minority stake in a data centre subsidiary in South Africa, are part of a significant strengthening of our capital structure as we position the Group for accelerated growth.” He further emphasized, “Through our One Cassava ecosystem, we are delivering innovative AI, cloud, data centre, payments, and low latency broadband connectivity solutions to enterprise customers across Africa.”
Minority Stake Sale and Future Plans
Africa Data Centre Holdings (ADCH) will remain a wholly owned subsidiary of Cassava Technologies despite the minority stake sale in the ADCH South Africa business, mitigating any operational disruption. Additionally, Liquid Intelligent Technologies is planning to issue a new $300 million bond to replace its existing $620 million bond prior to its maturity in September 2026. This strategic move aims to lower overall leverage and bolster the company’s balance sheet significantly.
Distributed by APO Group on behalf of Cassava Technologies.
About Liquid Intelligent Technologies
Liquid Intelligent Technologies operates as a pioneering force in pan-African digital infrastructure, boasting a vast network of over 110,000 km of fibre broadband and satellite connectivity. This extensive infrastructure provides high-speed internet access throughout the continent, establishing Liquid as the leading provider in the region. The company further enriches its services by offering Cloud and Cyber Security solutions through partnerships with top global entities. Providing tailored digital solutions, Liquid serves not just large enterprises but also SMEs and public sector organizations.
Explore more about Liquid Intelligent Technologies at Liquid Technologies.
Overview of Cassava Technologies
Cassava Technologies is recognized as a global technology leader with African roots, offering a comprehensive ecosystem of digital services and infrastructure designed to facilitate digital transformation. Headquartered in the UK, Cassava operates across various regions, including Africa, the Middle East, Latin America, and the USA. Its diverse business units—such as Cassava AI, Liquid Intelligent Technologies, Liquid C2, Africa Data Centres, and Sasai Fintech—deliver innovative products and services in 94 countries, positioning the company as a leading global tech entity of African origin. For further details, visit Cassava Technologies.
