WIOCC Group has secured an additional $65 million in sustainability-linked debt financing. The capital, arranged by a consortium of global development financiers including the International Finance Corporation (IFC), Proparco, and the Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety-One, will accelerate the company’s massive infrastructure rollout.
For Samuel Ndungu, Chief Financial Officer of WIOCC Group, this transaction is a powerful validation of the company’s financial strategy and its foundational role on the continent. “This new financing underscores the continued confidence of our development finance partners in WIOCC Group’s long-term growth strategy and our role in driving Africa’s digital transformation,” Ndungu stated.
From a financial leadership perspective, Ndungu emphasized that the facility is strategically designed to strengthen the company’s foundation for scalable growth. “The additional capital enables us to further scale our network infrastructure, extend our data centre footprint and enhance the resilience and capacity of our pan-African digital ecosystem,” he explained.
The structured financing, blending US dollar and South African rand components, is tailored to optimize WIOCC Group’s capital structure and mitigate currency risks, ensuring efficient and sustainable expansion. This careful financial engineering allows the group to execute large-scale, long-term projects critical for the continent’s digital future.
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The confidence of the lending partners underscores the strategic importance of WIOCC Group’s mission. Sarvesh Suri of IFC highlighted the partnership’s role in “accelerating investments in resilient, open-access networks,” while Proparco’s Françoise Lombard noted her institution’s support dating back to 2007, emphasizing how the new funds will boost “resilient, energy-efficient connectivity.” Puleng Pitso of Ninety-One pointed to the broader economic imperative, calling digital connectivity “one of the most powerful enablers of economic growth in Africa.” For Ndungu, these partnerships are essential, translating financier confidence into tangible progress.
With over $750 million historically invested in terrestrial fibre, submarine cables, and data centres, this latest funding round is a pivotal next step. For CFO Samuel Ndungu, the transaction transcends mere expansion; it is a commitment with profound developmental impact.
“Through this, we remain steadfast in our commitment to enabling digital inclusion and making an enduring contribution to the development of Africa’s digital economy,” he concluded. The funds will directly support WIOCC Group’s mission to build a carrier-neutral, open-access digital ecosystem, ensuring that the infrastructure for Africa’s economic transformation is not only built but built to last.
