As part of measures aimed at supporting access to universal and affordable broadband in Africa, IFC has reached an agreement with Liquid Intelligent Technologies to increase their data center capacity and the rollout of fiber-optic cable on the continent.
The partnership with Liquid Intelligent Technologies, Africa’s leading independent fiber and digital services provider is aimed at increasing digital connectivity and inclusion in Africa and to provide backing to the region’s growing digital ecosystem.
IFC’s equity and debt investments in Liquid Intelligent Technologies, which until now has reached an estimated US$250 million, will be disbursed towards growing the firm’s hyperscale data center capacity in Egypt, Kenya, Nigeria, and South Africa through its subsidiary, Africa Data Centres. As the population of Africa continues to increase and becomes a lot more urbanized, it is hoped that data consumption will increase commensurately, making it necessary to establish secure local data hosting.
The investments will provide backing to Liquid Intelligent Technologies as it works continuously on rolling out its fiber broadband network, which today covers over 100,000 kilometers of sub-Saharan Africa. This development of its network will improve the connection of corporations and individuals to the Internet across the continent. It will also position Liquid intelligent Technologies as a frontliner in Africa’s digital transformation with the provision of complementary digital services.
“We are very pleased that IFC continues to support Liquid. The investments in our data centers and fiber broadband network will directly support our growth plans over the coming years by encouraging the adoption of new services such as Cloud and other digital services, services that are critical in driving sustainable development across Africa,” said Strive Masiyiwa, Liquid Intelligent Technologies Executive Chairman and Founder.
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