The West Indian Ocean Cable Company (WIOCC) has taken a significant leap forward in its mission to bridge the digital divide across Africa. Partnering with the International Finance Corporation (IFC), Proparco, and RMB Corvest, WIOCC has secured over $50 million to expand its core and edge data centers in Nigeria, South Africa, and the Democratic Republic of Congo (DRC). This investment marks a crucial step towards bolstering Africa’s digital infrastructure and fostering economic growth on the continent.
Breaking Down the Funding:
- IFC and Proparco: These development finance institutions have contributed a combined $31.07 million towards WIOCC’s expansion efforts. This demonstrates a global commitment to supporting Africa’s digital development.
- RMB Corvest: A private equity firm, RMB Corvest, is expected to contribute an additional $10 million through a loan agreement, further solidifying the public-private partnership approach to this initiative.
Sustainability at the Core:
The funding agreement takes a sustainable approach. WIOCC’s commitment to improving energy efficiency and obtaining EDGE green building certification for its data centers is a significant aspect of the deal. This aligns with the IFC’s EDGE program, which promotes resource-efficient data centers with zero carbon emissions.
Expanding Reach, Bridging the Gap:
The secured funds will allow WIOCC to expand its data center capacity and fiber networks across key African markets. This will not only address the growing demand for data center services in these countries but also bridge the digital divide by providing more people with access to reliable internet connectivity. This, in turn, is expected to stimulate economic growth by facilitating innovation and entrepreneurship across Africa.
WIOCC’s Legacy of Digital Investment:
Since its establishment in 2007, WIOCC has consistently invested in Africa’s digital future. Their commitment to providing open-access infrastructure solutions has catered to the continent’s ever-increasing need for reliable internet connections. This latest expansion initiative signifies WIOCC’s continued dedication towards empowering Africa’s digital transformation.
Looking Ahead:
With this substantial investment, WIOCC is positioned to play a pivotal role in propelling Africa towards a more digitally connected and economically empowered future. The company’s focus on sustainability further strengthens the positive impact of this initiative. As WIOCC implements its expansion plans, it will be crucial to monitor the project’s progress and its impact on bridging the digital divide across the continent.