04 May 2023
Raxio Group has obtained a US$170 million loan in several tranches to accelerate its growth and expand its footprint in Africa.
The financing includes $110 million from the Emerging Africa Infrastructure Fund (EAIF) and Proparco, the branch of the French Development Agency (AFD) responsible for financing the private sector in developing countries.
A first tranche of US$33 million should allow Raxio Group to build and operate data centres in seven countries in sub-Saharan Africa, namely Uganda, Ethiopia, the Democratic Republic of Congo (DRC), Mozambique, Angola, Ivory Coast, and Tanzania. Each of its infrastructures will be equipped with the Tier 3 quality standard and will provide up to 11MW of computing capacity.
The investment will allow Raxio Group to pursue its African expansion strategy initiated in 2019 and which provides for the construction of ten to twelve data centres on the continent. The company already operates a 1.5MW facility in Uganda, with further facilities under construction in Ethiopia, Mozambique, Democratic Republic of Congo, Ivory Coast and Angola. After the initial rollout, EAIF and Raxio will expand to other African markets to meet growing demand and provide the necessary vital digital infrastructure.
“This substantial additional funding is a resounding endorsement of what we have achieved so far and the soundness of our expansion strategy, and clearly positions Raxio as a leader in delivering class-leading data centre infrastructure in markets across Africa,” said Robert Mullins, chief executive officer of Raxio Data Centres.