African digital infrastructure operator Cassava Technologies has entered into a memorandum of understanding (MOU) with Mitsui & Co., Ltd (Mitsui), one of Japan’s largest global conglomerates, as the race to build Africa’s digital hard assets heats up.
“Cassava Technologies and Mitsui share a common vision of facilitating digital transformation across Africa,” the companies said in a joint statement.
The partnership will bring together the technology, expertise and networks of both organisations to accelerate that vision.
Mitsui has global experience developing, investing in and operating businesses in the digital, infrastructure and energy sectors, and through this partnership, will further expand its business activities in Africa.
The Japanese group will assist Cassava Technologies by providing access to Mitsui’s global network, advanced technologies and helping to identify potential sources of financing to support future growth and investment.
The parties will collaborate in the development of digital infrastructure across Africa with a particular focus on data centres.
No financial details and timelines of potential investments have been shared at this time.
Hardy Pemhiwa, president and CEO of Cassava Technologies said: “This MOU accelerates our shared objectives to foster digital transformation across the African continent. The partnership with Mitsui allows Cassava Technologies to access Mitsui’s deep global experience in developing digital infrastructure.
“With Mitsui’s global network and experience, paired with our local market knowledge across Africa, we will work together to accelerate innovation and expand access to digital services for enterprises and consumers.” Mitsui has earlier this year announced plans to deploy as much as US$2.6 billion to build and acquire data centre facilities in Japan by 2026.
Cassava, launched earlier this year, oversees a series of digital invradtructure brands, including Africa Data Centres which is currently investing between $500 million and $1 billion to expand its footprint across the continent.