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Cassava Technologies pledges R4.5 billion in investment into the South African economy

Cassava Technologies
, a technology leader providing a vertically integrated ecosystem of digital services and infrastructure enabling digital transformation across Africa has announced plans to  invest a total of R4.5 billion  in South Africa through its business units – Liquid Intelligent Technologies, Africa Data Centres and Distributed Power Africa.

The announcement was made during the fifth South Africa Investment Conference (SAIC) in support of SA President Cyril Ramaphosa’s initiative to drive investment into the country.

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

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Cassava’s investment pledge comprises key projects, including the expansion of the Liquid Intelligent Technologies fibre network, the extension of Africa Data Centres capacity and footprint, enhanced cloud and cyber security capacity, and the rollout of clean, renewable energy by Distributed Power Africa in South Africa. 

South Africa’s USD$ 6.75 billion ICT sector represents one of Africa’s most investment-attractive and growth-bound industries today. The world bank estimates that South Africa’s internet penetration rate has doubled over the last decade, standing at 70%. While the Independent Communications Authority of South Africa reports that the national population coverage for 4G/LTE was at 97.7% in 2021, placing the nation years ahead of its peers in sub-Saharan Africa.   

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Milcah Lukhanyu
Milcah Lukhanyu
I cover tech news across Africa. Drop me an email at [email protected]

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