Pathway Advisors champions ₦20bn bond issuance for Dimension Data Nigeria to boost digital infrastructure

• Pathway Advisors Limited acted as the sole Financial Adviser and Lead Issuing House to the successful** ₦20 billion bond issuance** for Dimension Data Nigeria Limited via Dimension Data SPV Funding Plc, marking a major milestone in advancing long term financing for Nigeria’s fast growing digital infrastructure sector.
• CEO Adekunle Alade (FCA) emphasized that data centre expansion and lastmile fibre deployment require** long tenor, well structured capital**, noting that the transaction reflects Pathway Advisors’ strength in complex capitalmarket deals and underscores investors’ growing confidence following the firm’s earlier oversubscribed ₦3.8bn CP issuance for Dimension Data.
• Executives from Dimension Data Nigeria and private equity backer Mbavaa Partners highlighted the bond programme as a strategic enabler for scaling critical digital infrastructure, strengthening network resilience, and addressing Nigeria’s fibre coverage and enterprise connectivity gaps—positioning the company for aggressive growth across the country.

Pathway Advisors Limited has announced its role as the sole financial adviser and Lead Issuing House to a ₦20 billion bond issuance for Dimension Data Nigeria Limited through Dimension Data SPV Funding Plc, reinforcing its leadership in capital market advisory and infrastructure finance.

The transaction was formally concluded with the execution of documentation at the Capital Club, Victoria Island, Lagos, following clearance from the Securities and Exchange Commission (SEC).

The signing ceremony marked a significant milestone in advancing long-term financing solutions for Nigeria’s digital infrastructure sector.

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Speaking at the event, Adekunle Alade (FCA), Founder/Chief Executive Officer of Pathway Advisors Limited, highlighted the strategic importance of sustained investment in digital infrastructure, particularly within the data centre and last-mile fiber deployment.

“Data centre development and last-mile fiber deployment demand significant investment and long-term financing aligned with their operational lifespan.

“By leveraging the capital markets, issuers can access a diverse pool of institutional investors whose long-term investment horizons are well matched to infrastructure assets, enabling stable, well-structured funding to support sustainable growth.”

“The successful transaction further strengthens Pathway Advisors’ position as a trusted investment banking and financial advisory firm in complex capital market transactions,” he stated.

The firm previously led Dimension Data Limited’s ₦3.8 billion working capital commercial paper issuance, which was oversubscribed, reflecting strong investor confidence.

In his comments, Gbenga Olabiyi, Managing Director of Dimension Data Nigeria, described the bond programme as a strategic initiative aimed at enhancing infrastructure resilience and driving sustained value creation.

According to him “Sustained infrastructure investment is essential to maintaining competitiveness and unlocking future growth.

“When deployed thoughtfully, infrastructure secures the business, future-proofs operations, and allows efficient scaling as data demand and complexity increase.

“The gaps in digital infrastructure, including limited metro and last-mile fibre coverage, as well as constrained enterprise connectivity, are still challenges holding Nigeria back,” he noted.

He emphasized that a reliable and scalable data infrastructure is critical as organisations accelerate digital adoption and modernise operations across sectors.

Olabiyi added that the bond programme is designed to help expand critical digital infrastructure capacity, strengthen network resilience, and support enterprise and carrier-grade services needed to meet Nigeria’s growing data and connectivity requirements.

Also speaking at the ceremony, Shatse Kakwagh, Managing Partner of Mbavaa Partners Limited, the private equity firm backing Dimension Data Limited, characterized the transaction as a defining milestone in the company’s growth trajectory.

“This is a journey we began years ago, and it proves that the opportunities we see in the market can be realised.

“We believe strongly in working with partners to address the critical infrastructure deficit in Nigeria and across Africa. This programme enables us to secure the right type of capital to finance the aggressive growth we have planned,” Kakwagh noted.

Other professional parties in the transaction include KPMG Professional Services (Auditor to the Sponsor), Deloitte & Touche (Reporting Accountants), STL Trustees Limited (Bond Trustees), Greychapel Legal (Solicitor to the Offer), Alliance Law Firm (Solicitor to the Issuer), CardinalStone Registrars Limited (Registrar), Mascot Okpori & Co (Auditor to the Issuer), Fidelity Bank Plc (Receiving Bank), and Agusto & Co and Datapro Limited (Rating Agency).