Cassava Technologies Secures $90 Million Investment to Strengthen Digital Infrastructure in Africa
Cassava Technologies, one of the leading companies in Africa’s digital services sector, has secured a $90 million investment from the US International Development Finance Corporation (DFC), the Finnish Fund for Industrial Cooperation (FinnFund), and Google.
Operating in more than 30 markets across Africa, India, Latin America, and the Middle East, Cassava Technologies offers top-tier technology services, including broadband connectivity, cloud solutions, artificial intelligence, data center co-location, payment services, and cybersecurity.
The company is well-established and demonstrates dominance in its field by forming robust international partnerships.
As a result, the development of digital infrastructure could reduce the digital divide in the region, making it easier for people to connect with one another.
Additionally, strengthening this infrastructure may bring new job opportunities to the continent, potentially alleviating some of Africa’s employment challenges.
Cassava Group CEO and President Hardy Pemhiwa commented on the investment, saying:
“This is a pivotal milestone…to unlock immense value and catalyse the further expansion of Cassava’s digital infrastructure and services to bridge the digital divide in the continent.”