Online Reporter
Zimpapers Business Desk
Liquid Intelligent Technologies, a business unit of Cassava Technologies, has today confirmed the full repayment of its South African Rand term loan and US dollar revolving credit facility.
In tandem with this repayment, the pan-African technology group has agreed US$410 million in new rand and US dollar credit facilities from a syndicate of commercial and development finance lenders.
Cassava Technologies is further reinforcing Liquid’s financial position by injecting US$195 million in fresh capital into the business.
Commenting on these developments, Hardy Pemhiwa, president and Group CEO, stated: “These transactions, alongside the recent sale of a minority stake in a data centre subsidiary in South
“Africa is part of a significant strengthening of our capital structure as we position the group for accelerated growth.
“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.”
Africa Data Centre Holdings (ADCH) remains a wholly owned subsidiary of Cassava Technologies, as the minority stake sale was in the ADCH South Africa business.
Looking ahead, Liquid intends to issue a new US$300 million bond to replace its existing US$620 million bond in advance of its maturity in September 2026.
This move will reduce Liquid’s overall leverage and further strengthen the company’s balance sheet.
Formerly known as Liquid Telecom, Liquid operates the largest independent fibre network on the continent — over 110 000 kilometres — and provides data centers, IT services, and cyber security for businesses.
