WIOCC raises $40m to boost Nigeria , other digital infrastructure

The world’s biggest digital infrastructure firm has secured $40m in funding to expand its data centres in Nigeria, the Democratic Republic of Congo, South Africa and the South African Republic, according to a report by the BBC. Financial services chief Chris Wood has said it is thrilled to sign an additional $10m loan from the World Bank Group. But Bu BBC News Nigeria reports ahead of the launch of an investment programme in the country s financial growth programme on Monday, 17 January, and says it will increase its capacity to develop fibre networks in Africa, as part of its ambitious expansion programme aimed at boosting the digital divide across the continent, with further investment being invested in digital services in two nations, to create Africa’r first, truly open- access interconnected digital ecosystem. The company has confirmed that it has received more than $1bn (£27m) loans from IMF and Pro Parco, an international bank and two investment firms have agreed to invest hundreds of million dollars worth of investment in its digital networks. Here, we speak to WiOCC Group, who is planning to launch another joint investment of $70m ($50m), which aims to boost the global economy within the next phase of this investment, but does not know how much it would be able to achieve significant improvements to the future of Africa. A huge investment is to be carried out between the two banks, US banks and US investors, for the first time in five years.

Source: punchng.com
Published on 2024-06-25

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