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IFC, a member of the World Bank Group, has announced a loan to the West Indian Ocean Cable Company (WIOCC) to help telecoms infrastructure providers expand and improve affordable Internet connectivity, as it continues to serve more than 30 African countries

The US$20mn loan, announced in March to help sustain economies and preserve jobs during the pandemic, is part of the global US$8bn COVID-19 fast-track response facility at IFC

Support from IFC will help WIOCC upgrade its subsea capacity including the Eastern Africa Submarine Cable System (EASSy) and roll out regional terrestrial fibre optic networks. EASSy is an undersea fibre-optic cable system that connects eastern African countries to the rest of the world

According to an IFC report, only about 22 per cent of Africa’s population has access to an Internet connexion, the lowest of any region in the world. With support from the World Bank Group, the African Union has set the goal to connect every individual, business, and government on the continent by 2030. The partnership between IFC and WIOCC is a step towards tackling the connectivity gap in Africa.

Chris Wood, WIOCC CEO, said, “Pursuing our expansion will allow our company to leverage the opportunities created by the increasing demand for online services during the present crisis. It is also a demonstration of our dynamic partnership with IFC.”

Linda Munyengeterwa, IFC’s regional industry director for infrastructure in the Middle East and Africa, said, “IFC’s partnership with WIOCC will help increase Internet access across Africa, improving lives and allowing businesses to create and sustain potentially millions of jobs. With COVID-19 disrupting trade and business activity in an unprecedented fashion, building a strong Internet infrastructure in Africa is more important than ever.”  

WIOCC, a private company owned jointly by 14 African telecommunication operators, is investing strategically in digital infrastructure to support reliable and scalable connectivity in Africa. In light of increased demand due to the COVID-19 pandemic, WIOCC will be making additional investments in digital infrastructure in the immediate term.

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