WIOCC Group, a leading provider of high-capacity connectivity services, has secured a funding package exceeding $50 million from a consortium of international financial institutions. This investment will support the company’s digital expansion across key African markets—Nigeria, South Africa, and the Democratic Republic of the Congo (DRC)—helping to close the digital divide on the continent.
The funding partners include the International Finance Corporation (IFC), part of the World Bank; Proparco, a development finance arm of the Agence Française de Développement Group; and RMB Corvest, a private equity firm. The funding consists of loans worth $10 million, ZAR 200 million (approximately $11.07 million), and $20 million from Proparco.
WIOCC anticipates finalizing a $10 million loan with RMB Corvest as part of its expansion in Nigeria. The financing structure is based on sustainability-linked debt, where the interest rate is connected to WIOCC’s progress in improving energy efficiency and achieving EDGE certification. EDGE is a green building standard provided by IFC, ensuring that the company’s data centres are energy-efficient and environmentally sustainable.
The funds will be used to expand WIOCC’s core and edge data centres in the three countries, as well as enhance its fibre networks. This expansion will provide wider digital access to underserved areas and contribute to Africa’s economic development.
Chris Wood, CEO of WIOCC Group, expressed excitement about the progress: “This capital raise is a significant milestone that will help us expand our open-access data centre operations, boosting connectivity across our key markets both locally and internationally.”
The investment comes as part of WIOCC’s ongoing efforts to meet the growing demand for reliable, high-speed connectivity in Africa, with a focus on providing open-access infrastructure to support digital transformation across the continent.
