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Contributing to the digital transformation of Africa
Project
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Signature date
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Location
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South Africa, Nigeria, Democratic Republic of Congo, Multi-country Africa
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Financing tool
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Financing amount (Euro)
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18724838
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Financing details
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USD 20m loan
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Customer
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West Indian Ocean Cable Company Limited
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Type of customer
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Company
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Country of headquarters
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Mauritius
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Project number
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PZZ1676
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Environmental and social ranking
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B+
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco, alongside IFC, has allocated financing to the West Indian Ocean Cable Company (WIOCC) group, one of the main connectivity providers in Sub-Saharan Africa. The objective is to finance WIOCC’s expansion strategy in the data center sector via its subsidiary, Open Access Data Centres (OADC).
Client presentation
Since 2007, WIOCC Group, Africa's converged open-access digital infrastructure leader, has been helping transform Africa's digital landscape by introducing client-centric innovations. WIOCC Group, the parent company of WIOCC, Africa's digital backbone, and Open Access Data Centres (OADC), Africa's fastest-growing data center company, is pioneering and accelerating Africa's digital transformation. It is creating an environment in which all Africans can take advantage of world-class technology developments to build better lives, better businesses and a better world, by deploying converged open-access digital infrastructure (CODI) across Africa; infrastructure that will expedite and underpin Africa's digital transformation.
Project description
With the funding, WIOCC Group will expand its core and edge data centers in the DRC, Nigeria, and South Africa to meet growing demand for colocation and other data center services. It will also grow its fiber networks, helping bridge the digital divide, and fostering economic growth across Africa.
The financing is structured as a sustainability-linked debt, with pricing linked to WIOCC's commitment to improve the energy efficiency of its data centers and obtain EDGE green building certification for them. EDGE, an innovation of IFC, makes it easy to design and certify resource-efficient and zero carbon buildings.
Project impact
The expected impacts of the project are as follows:
- 139 direct jobs created at WIOCC and 1,135 direct and indirect jobs supported over the next 5 years
- Climate co-benefits (28% mitigation and 15% adaptation), mainly resulting from energy efficiency measures in the context of EDGE certification. A technical assistance program (PEEB) was also set up in 2023 to assist WIOCC on its low-carbon path.
The project will contribute to SDGs 8 “Decent work and economic growth” and 9 “Industry, innovation and infrastructure”.