C5 Capital Invests $50m in Cassava to Accelerate Africa’s Digital Transformation

July 18, 2022
C5 Capital Cassava Technologies

By Aduragbemi Omiyale

In order to accelerate digital transformation in Africa, a specialist venture capital firm, C5 Capital, has invested about $50 million in Cassava Technologies.

Cassava is Africa’s first integrated tech company of continental scale and its success attracted C5, which intends to partner with the company 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.

C5 and Cassava already announced a joint venture through which Haven Cyber, a C5 portfolio company and Cassava will scale Microsoft’s suite of cybersecurity products across Africa to help combat the threat of cybercrime.

“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,” the founder of Cassava, Mr Strive Masiyiwa, commented.

“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,” the founder of C5 Capital, Mr André Pienaar, stated.

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 1 million enterprises and access to the internet for over 500 million people in Africa.

Through the partnership between Haven Cyber (a portfolio company of C5) and Liquid Cloud & Cybersecurity (a business of Cassava), C5 and Cassava aim to bring expertise in cyber security to Africa by launching a network of state-of-the-art Cyber Security Operations Centres (CSOCs) across Africa. The CSOC network will enable the rapid delivery of cyber security services and operations on the continent. The first such CSOC is set for launch in South Africa later this year.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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