HomeNewsBusinessStrive Masiyiwa's Liquid Telecom Starts the Construction of $100M Database Centre in...

Strive Masiyiwa’s Liquid Telecom Starts the Construction of $100M Database Centre in Nigeria

UK based Zimbabwean billionaire and business magnet Strive Masiyiwa has started the construction of the largest Database centre in Africa outside South Africa which will be based in Lagos, Nigeria.

Through Liquid Telecom which is a subsidiary of Econet Group, Masiyiwa will see his company pour in US$ 100M in the largest investment of the company in Nigeria to construct a database centre that has been named African Data Centres Atlantic.

Construction of the database was announced in October 2020 and construction of the structure that will cover 5 acres of land started this week in December 2020.

“This week marked the start of the construction of our first major Data Centre facility in Lagos, Nigeria. Named the ADC Atlantic, this is a US$100m investment in the Nigerian economy. In the Data Centre world, this will be the largest facility outside South Africa.” Masiyiwa said.

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Since database centers have machines that require mass cooling, the company partnered with DPA which provides the power system using solar energy and natural gas.

This investment comes after the company looked for investors who collected $500M capital funding earlier this year. Additionally, ADC Atlantic is yet to receive an investment of 300M from US government’s International Development Finance which has been approved and will be invested in the business to build new facilities in Egypt, Ghana and Morocco.

ADC announced this year that they have finished acquiring land to construct the largest data centres in Ghana and Nigeria.

Nasa Tushabe
Nasa Tushabe
A Ugandan Business and Financial News Journalist. Writer and a critic. Reports Entertainment News for Blizz Uganda website.
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