NVIDIA has invested in Cassava Technologies, adding the US chipmaker to a roster of global and regional backers in the African-rooted technology group that spans digital infrastructure, cloud, AI and fintech across Africa, the Middle East and Latin America. Cassava disclosed the investment without stating size or valuation.
“Cassava is Africa’s leading technology company, driving the continent’s digital transformation with digital infrastructure and digital services. Securing this investment is an important milestone that we expect to unlock additional value from and catalyze the further expansion of our digital infrastructure and services to bridge the digital divide on the continent,” said Hardy Pemhiwa, President & Group CEO of Cassava Technologies.
The investment brings NVIDIA alongside existing shareholders including Econet Group, British International Investment, Finnfund, Fund for Export Development in Africa (Afreximbank/FEDA), Gateway Capital, Google LLC, International Finance Corporation, Public Investment Corporation and Royal Bafokeng Holdings.
Cassava operates through business units including Liquid Intelligent Technologies, Africa Data Centres, Liquid C2, Cassava.ai and Sasai Fintech. The group said it will continue to work with partners and customers across its markets as it builds out infrastructure and services with a stated aim of bridging Africa’s digital divide.
