The West Indian Ocean Cable Company (WIOCC) has secured $41 million in debt funding led by IFC and Proparco to expand its data centre infrastructure in Nigeria, South Africa, and the Democratic Republic of Congo (DRC). The funding will support the expansion of WIOCC’s core and edge data centres to meet the growing demand for colocation and other data centre services.
WIOCC plans to use the funding to grow its fibre networks, bridge the digital divide, and foster economic growth across Africa. The financing is structured as sustainability-linked debt, with pricing linked to WIOCC’s commitment to improve the energy efficiency of its data centres and obtain EDGE green building certification.
Chris Wood, CEO of WIOCC Group, expressed excitement about the capital raise, which will enable significant expansion and further capacity to its open-access data centre operation. PROPARCO and IFC highlighted the importance of supporting the expansion of open-access data centres in Africa, emphasizing the role of neutral and open-access data centres in building a diversified digital ecosystem and ensuring the resilience of Africa’s digital network.
Source: The Guardian