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Cassava Technologies announces $50 million strategic investment from C5 Capital

Cassava Technologies announces $50 million strategic investment from C5 Capital

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Cassava Technologies, Africa’s first integrated tech company of continental scale, has announced that it has secured a US$50 million investment from C5 Capital (C5), a specialist venture capital firm that invests in cybersecurity, space, and energy security.

According to Cassava Technologies, the investment is part of a broader funding round to accelerate its growth.

The investment by C5 will contribute to the acceleration of the work that Cassava has undertaken to increase digital connectivity and inclusion on the continent. Cassava will be the go-to market partner in Africa for C5’s cutting edge portfolio companies to deliver best-in-class cyber security, satellite and space technology and clean energy.

Strive Masiyiwa, Founder and Executive Chairman, Cassava Technologies, said:This investment from C5 is part of our plan to raise additional growth capital whilst diversifying our investor base. We are delighted that C5 has joined us to help realise our vision of a digitally connected future that leaves no African behind.”

Cassava Technologies has operations in more than 20 African countries and has been at the forefront of bringing innovative technology solutions to local businesses and individuals. Through its extensive offering that includes fibre networks, data centres, renewable energy, cloud, and cyber security, and fintech and digital platforms, the company provides digital solutions to over one million enterprises and access to the Internet for over 500 million people in Africa.“We are delighted to partner with Cassava Technologies, to bring the most innovative cyber security, space and energy security products and services to African markets,” said André Pienaar, Chief Executive and Founder, C5 Capital.

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