Teraco Data Environments Ltd. has obtained a loan of 8 billion rand ($442 million) from Absa Group Ltd. to fund the construction of a new facility that will cater to the increasing demand for artificial intelligence applications.

This move will enable Teraco to expand its operational capacity to 228 megawatts, solidifying its position as the largest data center provider in Africa. Samuel Erwin, the Chief Financial Officer, emphasized the importance of this expansion in meeting the growing requirements of the AI sector.

This investment demonstrates Teraco's commitment to maintaining its leadership in the rapidly evolving data center market across the continent.