Pan-African technology group Cassava Technologies has secured new investment.

The firm this week announced a strategic investment by Stanlib Infrastructure Investments to accelerate the expansion of Africa Data Centres' (ADC) footprint in South Africa.

Terms were not shared, but the companies said the funds will drive the expansion and development of AI-ready data centres at Africa Data Centres’ campuses in Johannesburg and Cape Town.

The news follows a recent investment from Nvidia. Terms were not shared. The two companies signed an agreement earlier this year to bring GPUs to Cassava’s data centers, initially starting in South Africa.

Hardy Pemhiwa, president & group CEO of Cassava Technologies, said: “Partnering with Stanlib strengthens our South African operations and validates the robust foundation we've built. It provides us the scale required to serve major hyperscalers and enterprises as they rapidly increase their demand for secure, high-capacity connectivity and cloud services across the region.”

Stanlib Asset Management is one of South Africa’s leading investment managers, with more than R580 billion ($33.9bn) in assets under management. Founded in 2002, the company is a wholly owned subsidiary of JSE-listed financial services firm, Liberty Holdings Limited.

Andy Louw, co-head at Stanlib Infrastructure Investments, added: “Data centers are critical infrastructure for the modern economy, and our investment will strengthen South Africa’s digital backbone, enabling ADC to contribute meaningfully to the country’s growth. It aligns with our desire to be an economic enabler for the South African economy by deploying capital that drives growth while giving institutional investors differentiated access to a unique asset class.

Formerly known as Liquid Technologies, Cassava has said it will deploy 3,000 GPUs in South Africa by June 2025, and 12,000 across the whole of Africa in the next "three to four years." In total, investment in the continent could reach $720 million. Cassava, which offers digital infrastructure products and services, including fiber connectivity and cloud services, launched an AI business unit last year.

Cassava operates data centers through its Africa Data Centres brand. ADC has three data centers in South Africa, two in Johannesburg and one in Cape Town. Cassava also has sites across Egypt, Kenya, Morocco, and Nigeria.

Cassava’s roster of investors now includes Econet Group, British International Investment, DFC, Finnfund, Fund for Export Development in Africa (Afreximbank/FEDA), Gateway Capital, Google, International Finance Corporation (IFC), Public Investment Corporation, and Royal Bafokeng Holdings.