Fintech Landscape of South Africa 2022 by Richie Santosdiaz for The Fintech Times
Cloud Services Middle East & Africa

Cassava Technologies Invests Billions in South Africa for Digital Transformation

Cassava Technologies, a technology company offering infrastructure for digital transformation across Africa, has pledged R4.5billion in investments into the South African economy.

Its investment pledge includes various key projects, such as the expansion of the Liquid Intelligent Technologies fibre network, the extension of Africa Data Centres capacity and footprint, enhanced cloud and cybersecurity capacity, and the rollout of clean, renewable energy by Distributed Power Africa in South Africa.

The investments will also contribute towards positioning South Africa as an attractive investment destination and enable greater inclusion of all South Africans.

CEOs have urged the South African government to tackle energy crisis, infrastructure decay, and crime as President Cyril Ramaphosa targets two trillion rand ($110 billion) investment in five years.

During the fifth South Africa Investment Conference (SAIC), Cassava announced its support of Ramaphosa’s initiative to drive investment.

The World Bank estimates that South Africa’s internet penetration rate has doubled over the last decade, standing at 70 per cent.

Earlier this month, Liquid Intelligent Technologies – a business of Cassava Technologies – forged an agreement with the Government of Zambia to accelerate the country’s digital transformation and provide reliable and affordable connectivity to all Zambians.

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