• Cassava Technologies secures USD 90M equity and completes a USD 310M restructuring plan.
• Investment supports digital infrastructure expansion, targeting Africa’s growing tech-driven economy.
• Cassava is set to enhance connectivity, financial inclusion, and sustainability across the continent.

A Strategic Reorganization for Cassava

Cassava Technologies, Africa’s leading digital infrastructure and services provider, has announced a USD 90 million equity injection. This new funding, led by DFC, Finnfund and Google, complements a broader USD 310 million package that includes refinancing its debt and completing a strategic reorganization.

Cassava Technologies operates across several sectors, including telecommunications, fintech, cybersecurity, and renewable energy, offering products like Liquid Intelligent Technologies and Sasai Fintech.

“These achievements strengthen our financial position and endorse our founder’s vision. This is a pivotal milestone to expand our digital infrastructure and bridge the continent’s digital divide.”

Hardy Pemhiwa, Cassava CEO

Its innovative ecosystem addresses the continent’s infrastructure gaps while maintaining a competitive edge against rivals such as MTN and Vodacom. The latter two dominate traditional telecom markets but lack Cassava’s integrated digital service offerings.

Bridging Africa’s Digital Divide

This equity injection could not have come at a more critical time for Africa, where the digital economy is expected to contribute USD 180 billion by 2025. However, over 60% of the continent’s population remains offline, largely due to inadequate infrastructure.

Cassava Technologies, which operates in over 20 African countries, plays a key role in bridging this gap. The company has connected 100,000 kilometers of fiber optics, providing high-speed internet and digital services to millions. Its fintech arm, Sasai, supports financial inclusion by delivering mobile payments to underserved communities.

The reorganization aligns with global trends pushing for sustainable infrastructure, which also dovetails with African government initiatives to improve broadband penetration and digital access.

A Digital Renaissance for Africa

Cassava Technologies’ recent financial restructuring solidifies its position as a pivotal player in Africa’s tech ecosystem. With USD 90 million in fresh equity, the company aims to intensify its focus on digital inclusion and innovation, specifically targeting underserved communities.

By enhancing Liquid Intelligent Technologies’ connectivity reach and advancing Sasai’s digital finance offerings, Cassava is poised to stimulate entrepreneurship, education, and healthcare across Africa. The company’s commitment to renewable energy also positions it as a sustainability leader in the region, promising scalable and eco-friendly solutions.

Moreover, Cassava’s strategic reorganization could inspire similar models across emerging markets, particularly in the MENA region. By leveraging robust investor support and a diversified product portfolio, it is setting the benchmark for integrated digital ecosystems globally.