Carrier-neutral digital infrastructure platform WIOCC Group on Tuesday announced that US International Development Finance Corporation (DFC) intends to join Africa Finance Corporation (AFC) and Vision International Investment (Vision Invest) as an investor in the company.

Earlier this month, WIOCC secured an aggregate $300-million in investments through a Shareholder Subscription Agreement with AFC and Vision Invest.

The latest announcement was made following a roundtable hosted by AFC on the sidelines of Unstoppable Africa's Global Africa Business Initiative, held alongside the UN General Assembly in New York.

DFC’s investment is subject to further steps before commitment and closing, including congressional notification.

The expanded group of investors combines African, Saudi Arabian and US development finance perspectives, reflecting the growing international consensus around the strategic importance of open-access digital infrastructure to Africa's economic transformation.

“This additional investment increases WIOCC Group’s ability to execute its long-term growth strategy by accelerating data centre deployment and consolidation, expanding the continent's open-access terrestrial fibre footprint and investing strategically in new subsea assets, strengthening Africa's digital infrastructure platform and enhancing connectivity between the continent and key international markets,” said WIOCC Group CEO Chris Wood.

DFC’s investment in WIOCC Group will help build the next generation of trusted, resilient digital infrastructure needed to power Africa’s economic growth, added DFC chief of staff and head of investments Conor Coleman.

“This platform will not only provide the connectivity that businesses and communities need to participate in the digital economy, but it will also support American and allied partner companies seeking to grow in one of the world’s most dynamic markets, including US hyperscalers and the broader American technology ecosystem.”

The successful completion of this additional investment marks another important step in WIOCC Group's evolution, further enhancing the group's financial strength and enabling the management team to strengthen its market position, accelerate growth, enhance its ability to meet the evolving needs of customers across Africa and generate long-term value for investors and stakeholders, said WIOCC Group chief strategy and M&A officer Joshua Smythwood.

“The combined investment brings together AFC's long-standing commitment to advancing Africa's economic development, Vision Invest’s experience in developing strategic and impactful infrastructure investments and DFC's mandate to mobilise private capital to address development challenges.”

AFC president and CEO Samaila Zubairu said that its investment in WIOCC will expand the open-access digital backbone African businesses and communities need to integrate, innovate and compete globally.

“The Africa we build must be connected, competitive and equipped to create value from the digital economy, not only consume it. Just as transport corridors enable trade and energy networks power industry, fibre, data centres and subsea cables are now essential infrastructure for growth, innovation and AI.”

WIOCC Group has built one of Africa's leading digital infrastructure platforms, and Vision Invest is proud to partner together with DFC, AFC and WIOCC's existing shareholders as the company enters its next phase of growth, added Vision Invest president and CEO Omar N Al-Midani.

“Home to the world's youngest population and expected to account for more than one-quarter of the global population by 2050, demand for digital services in Africa will continue to rise, necessitating impactful investments in connectivity and digital ecosystems to unlock new opportunities for innovation, economic diversification and sustainable growth as well as opportunities for businesses, innovators and communities across Africa.”

Together with WIOCC Group's established digital footprint and extensive market relationships, the partnership will support the continued expansion of Africa’s digital ecosystem and the continent’s growing participation in the global digital economy.