DataVolt, a recognized global leader in building large-scale data centers, has secured project financing without recourse for up to 150 million US dollars. These funds are designated for the implementation of an infrastructure project in Tashkent.
DataVolt, a recognized global leader in building large-scale data centers, has secured project financing without recourse for up to 150 million US dollars. These funds are designated for the implementation of an infrastructure project in Tashkent.
The financing will be directed towards the construction and subsequent operation of the TAS-1 data center, with a capacity of 12 MW, which will be located within the IT Park. The international law firm Dentons acted as legal counsel for DataVolt regarding Uzbek legislation within this transaction.
The funding was provided by a consortium of international development institutions. Members included the European Bank for Reconstruction and Development, Germany's DEG, the OPEC Fund for International Development, and France's Proparco. The loan term is twelve years. According to Dentons, this deal is the first of its kind in Uzbekistan utilizing non-recourse project financing, setting a significant precedent for the country's digital sector.
The TAS-1 data center is planned to become operational by the end of 2026. Transaction participants estimate that after launch, the facility will be one of the largest green data centers ready for artificial intelligence operations in Central Asia. It will be equipped with liquid cooling systems for high-performance cloud computing and corporate IT infrastructure.
The realization of this project aligns with the state strategy 'Digital Uzbekistan — 2030' amid growing demand for modern digital infrastructure in the region. The Dentons legal team, led by partner Ulugbek Abdullaev from the Tashkent office and supported by junior lawyer Lailo Mardiyeva, was responsible for structuring the financing, conducting due diligence on behalf of the lenders, and preparing financial documentation.
Ulugbek Abdullaev noted that this financing marks an important stage in the development of the country's digital economy and demonstrates the increasing trust of international financial institutions in Uzbekistan's investment potential.
The Tshwane municipality has launched a new digital procurement platform called SAP Ariba. This initiative aims to strengthen supply chain oversight, increase transparency, and minimize opportunities for irregular spending.
On Thursday, Deputy Executive Mayor and member of the Municipal Finance Committee, Councillor Eugene Modise, announced the launch of the platform alongside Executive Mayor Dr. Nasif Moyie, members of the Mayoral Committee, and senior municipal officials. He presented this measure as another step in the City's drive to modernize public administration and improve financial management.
Modise emphasized that every rand entrusted to the municipality is managed responsibly, transparently, and in the best interests of residents. Previously, Tshwane's procurement system heavily relied on manual, paper-based processes and fragmented approval mechanisms, leading to delays, inefficiency, and, in some cases, abuse.
According to Modise, previous audit reports and internal investigations revealed weaknesses in the City's supply chain management, including improper record-keeping and inconsistent compliance with regulations. These shortcomings undermined public trust, increased costs, and slowed down service delivery.
SAP Ariba is a fully integrated cloud platform for procurement and supply chain management. It automates supplier registration, sourcing, contract management, and procurement transactions. According to Modise, the platform will provide a complete digital trail for every purchase, ensuring full traceability of interactions with suppliers and approval processes under stricter control.
The implementation of this system is part of the City's broader SAP S/4HANA Upgrade Program, one of Tshwane's largest financial modernization projects, requiring an investment of approximately R237 million. Modise also took the opportunity to refute what he considered inaccurate public commentary regarding Tshwane's financial health, stating that the municipality's latest figures reflect stable financial management, not financial distress.
He reported that in the 2025/26 fiscal year, the City collected approximately R43.93 billion in revenue, which is 98% of the income planned in the Budget Financing Plan, despite ongoing economic pressure on households and businesses. In June, revenue collection exceeded expectations, reaching over R4.18 billion, which was R544 million more than the monthly target and 115% of the goal. By June 26th, before the official end of the fiscal year, collected funds had already surpassed R3.6 billion.
Modise noted that after paying staff salaries, the municipality maintained a positive cash balance of about R1.8 billion. He added that the City continues to meet its debt repayment agreement with Eskom while simultaneously reducing its overall debt burden. Linking the City's financial results to procurement reforms, Modise stated that sustainable financial management depends on robust systems, not short-term measures. He stressed that digital platforms like SAP Ariba reduce opportunities for irregular spending, enhance compliance and oversight, and enable faster, data-driven decision-making through real-time reporting.
These reforms are intended to create a 'capable, transparent, and financially sustainable municipality that earns residents' trust through responsible governance and measurable results.' Furthermore, the new procurement platform will simplify doing business with the City, making procurement processes more accessible and efficient for legitimate suppliers.
