The US International Development Finance Corporation (DFC), the official development finance institution and international investment arm of the US government, approved more than US$ 8 billion in new investments last week including a US$ 155 million equity investment in WIOCC Group, an African carrier-neutral digital infrastructure platform.
The DFC said in a press release that the investment will serve to strengthen digital infrastructure across Africa and align with US strategic interests in supporting US hyperscalers and the wider US technology ecosystem. Users across the continent stand to benefit from secure, affordable, and resilient digital infrastructure the investment facilitates. The investment will also secure the a foothold for the US in the AI race as demand for the technology expands through the continent.
“President Trump and DFC are committed to winning the AI race for America,” Ben Black, DFC Chief Executive Officer, told ET CIO. “DFC’s largest ever equity investment of up to US$ 155 million will help build the next generation of digital infrastructure for Africa’s growth on trusted networks that support American companies looking to expand in one of the world’s most dynamic markets.”
The investment partners in this deal are Vision International Investment Company (Vision Invest) and the Africa Finance Corporation (AFC). As w.media reported earlier this month, both Vision Invest and AFC signed a shareholder subscription agreement with WIOCC Group worth a combined US$ 300 million.
“Africa is uniquely positioned to capitalize on the next phase of global digital growth. As demand for cloud, AI and digital services accelerates, robust and scalable infrastructure will be essential to unlocking the continent’s potential,” Chris Wood, WIOCC Group Chief Executive Officer, said earlier this month.
WIOCC Group is a preferred partner for US technology companies expanding in Africa. The firm operates more than 115,000 km of terrestrial fiber and over 200,000 km of subsea cable around the African continent. It also operates 13 data centers in South Africa, Nigeria, and the Democratic Republic of Congo through its subsidiary Open Access Data Centres.
Along with its investment on the African continent, DFC announced that it will provide financing to Vodafone Ukraine, to strengthen and modernize critical telecommunications infrastructure during the ongoing war. It will also financially support a new 200 MW/400MWh battery energy storage system across six sites in Ukraine.