in Short

Telecommunications Proparco supports the development of WIOCC and the digital revolution in Africa

With a loan of $ 60 million granted to the West Indian Ocean Cable Company (WIOCC), a pan-African telecommunications infrastructure company, Proparco reaffirms its commitment to innovation and economic growth on the African continent. The current digital innovation boom holds great economic and social potential for Africa. Financial inclusion, for example, has improved across the continent over the past decade thanks to the mobile money payment revolution. WIOCC has been providing connectivity solutions to information and communication technology (ICT) players on the African continent for more than a decade, playing a key role here for the growth of the digital sector. Via a loan of $ 60 million, Proparco will support WIOCC’s expansion plan in East and Southern Africa. This plan consists of investments in digital infrastructure on the continent, including in some of the least developed countries. Proparco also mobilized funds from the Emerging Africa Infrastructure Fund (EAIF) of the PIDG Group, which contributed an additional 40 million dollars to this operation. This is AFD Group’s second partnership with WIOCC after a first loan granted by AFD in 2007 to support EASSy, a 10,000-kilometer submarine cable system linking the Red Sea to South Africa, improving Internet access throughout East and South Africa

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