28 September 2022
IFC is expanding its relationship with West Indian Ocean Cable Company Holding Ltd (WIOCC Group) with a $30m million equity investment.
The new investment will support the latter's continued rollout of terrestrial fibre-optic networks, investment in new subsea cables, plus the launch of open-access core and edge data centre infrastructure across the continent.
“At IFC, we recognise that there is a critical need for reliable digital infrastructure, which is fundamental to improving the quality of people’s lives and driving business growth,” said Mohamed Gouled, IFC vice resident of industries, during a signing ceremony with WIOCC Group in London. “In the past fiscal year, ending in June 2022, IFC invested $1.3 billion in digital infrastructure, with over half of those investments taking place in Africa’s telecommunications, media, and technology sector. Our partnership with WIOCC Group underscores IFC’s commitment to closing the digital divide in Africa.”