The U.S. International Development Finance Corporation (DFC) has approved an investment of up to $155 million in WIOCC Group, an African digital infrastructure company operating across more than 30 countries.
WIOCC operates subsea cables, terrestrial fibre networks and data centres, providing wholesale connectivity and other digital infrastructure services across the continent. (TechCentral)
The DFC describes the investment as its largest-ever equity investment, with the funding expected to support the expansion and strengthening of critical digital infrastructure in Africa.
The investment is being made alongside Vision International Investment Company and the Africa Finance Corporation. (BENIN WEB TV)
Digital infrastructure such as fibre networks, data centres and submarine cables forms an important foundation for cloud computing, artificial intelligence and other online services.
WIOCC’s network currently extends across more than 30 African countries, making the investment relevant to multiple markets across the continent. The company operates an open-access, carrier-neutral platform providing connectivity and data-centre services.
The announcement comes at a time when demand for digital services, cloud computing and AI infrastructure is increasing across Africa.
The investment is therefore expected to contribute to the expansion of the infrastructure required to support Africa’s growing digital economy, although the specific allocation of the $155 million investment among individual countries has not been publicly detailed. (TechCentral)
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