nologies announces $50m strategic investment from C5 Capital
Summary
Partnership further enables Cassava to accelerate digital transformation in Africa .Jersey, United Kingdom, 18 July 2022 Cassava Technologies (Cassava), Africas first integrated tech company of continental scale, announced today that it has secured a US$50 million investment from C5 Capital (C5), a specialist venture capital firm that invests in cyber security, space, and energy security. 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.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 Andr\xe9 Pienaar, Chief Executive and Founder of C5 Capital.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.Pienaar continued, Following the launch of Cassava Technologies cutting-edge Cyber Security Operations Centre (CSOC) planned for Johannesburg later this year, we see tremendous growth potential for Cassava Technologies cyber security business to help protect African enterprises and communities.Hardy Pemhiwa, the President and CEO of Cassava, added, Recent industry reports highlight that cyber security threats cost Africa close to US$4.1 billion in lost GDP in 2021. Todays investment from C5 and our pan-continental partnership will enhance our ability to enable our customers build secure and stable cloud-based digital services critical to transforming lives on the continent.
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