WIOCC Secures $200M to Enhance Connectivity Across Africa
## WIOCC Expands Connectivity with $200 Million Investment
Mauritius-based West Indian Ocean Cable Company (WIOCC) recently announced a significant capital raise of $200 million. This investment is set to enhance the company’s connectivity both within Africa and on an international scale.
### Details of the Investment
In a published statement, WIOCC outlined that the funds will facilitate the expansion of subsea and terrestrial fiber investments. Additionally, it aims to establish a network of pan-African data centers, geared towards cloud and wholesale service providers through a newly formed entity called Open Access Data Centres (OADC).
### Locations for New Data Centers
The first phase will feature data centers with carrier-neutral submarine cable landings in cities such as Lagos, Nigeria; Durban, South Africa; and Mogadishu, Somalia. Construction is currently in progress in Lagos and Durban, with both centers expected to launch in early 2022. The facility in Mogadishu is anticipated to open before the end of 2022.
### Future Expansion Plans
WIOCC has indicated that subsequent phases will lead to the establishment of over 20 new data centers in strategically vital locations across the continent. This expansion aims to bolster connectivity in major hubs within each country.
### Strategic Investments for Growth
The announcement highlighted that the investment in the Equiano and 2Africa international subsea systems will complement WIOCC’s existing network infrastructure. This addition will significantly increase WIOCC’s capacity to provide high-availability solutions to the African market. The company’s terrestrial strategy will also be broadened to reach new countries and urban areas, enhancing its range of end-to-end solutions for clients.
### Financing Partners
The equity capital was secured from CAPE IV, a fund managed by African Capital Alliance (ACA), a prominent private equity fund manager focusing on Africa. In addition, WIOCC’s debt facility was provided by the International Finance Corporation, Proparco, and the Emerging Africa Infrastructure Fund, managed by Ninety One. Verdant Capital served as WIOCC’s financial advisor throughout this capital increase.
What are your thoughts on WIOCC’s ambitious plans to expand connectivity across Africa?
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