Liquid Intelligent Technologies, a business of Cassava Technologies, has confirmed the full repayment of its South African rand term loan and US dollar revolving credit facility, marking a major reset of its balance sheet.
Alongside the repayment, Liquid has secured US$410 million in new rand and dollar-denominated credit facilities from a syndicate of commercial banks and development finance institutions. Cassava Technologies has also injected a further US$195 million in fresh equity capital into the business.
Commenting on the developments, Hardy Pemhiwa, President and Group CEO, said: “These transactions, alongside the recent sale of a minority stake in a data centre subsidiary in South Africa, are part of a significant strengthening of our capital structure as we position the Group for accelerated growth. Through our One Cassava ecosystem, we are delivering innovative AI, cloud, data centre, payments, and low latency broadband connectivity solutions to enterprise customers across Africa.”
Africa Data Centre Holdings remains a wholly owned subsidiary of Cassava Technologies, with the minority stake sale limited to the ADCH South Africa business.
Looking ahead, Liquid plans to issue a new US$300 million bond to replace its existing US$620 million bond ahead of its maturity in September 2026. The refinancing is expected to reduce overall leverage and further strengthen the company’s balance sheet, supporting its next phase of growth.
