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WIOCC Group has secured over $50 million in financing to support its digital expansion initiatives in Nigeria, South Africa, and the Democratic Republic of the Congo (DRC). The financing package includes $10 million in loans, ZAR 200 million ($11.07 million) from the International Finance Corporation (IFC), and $20 million from Proparco.
In addition, reports indicate that WIOCC is set to finalize a $10 million loan agreement with RMB Corvest for its Nigerian expansion in the coming weeks.
The funding is structured as sustainability-linked debt, with pricing tied to WIOCC’s commitment to enhancing energy efficiency and achieving EDGE green building certification. EDGE, provided by IFC, certifies that data centers are resource-efficient and have zero carbon emissions.
This capital infusion will enable WIOCC to expand its core and edge data centers in Nigeria, South Africa, and the DRC, addressing the growing demand for data center services in these regions. The company also plans to allocate a portion of the funds to expand its fiber networks, thereby increasing digital access and fostering economic growth across Africa.
Chris Wood, CEO of WIOCC Group, expressed his enthusiasm about the new funding: “We are excited to conclude this next stage of our capital raise, which will enable significant expansion, adding further capacity to our open-access data center operation and extending open-access hyperscale national, international, and metro connectivity across our key markets.”
Since its launch in 2007, WIOCC has consistently invested in the continent’s digital infrastructure, providing open-access solutions to meet the increasing demand for reliable connectivity throughout Africa. This latest funding round underscores WIOCC’s ongoing commitment to driving digital transformation and economic growth in the region.
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