The International Finance Corporation (IFC) has provided African data-centre developer Raxio Group with $100m (€89.9m) financing to support its expansion.
Founded in 2018, Raxio has expanded from its initial facility in Uganda to establish a presence in Ethiopia, the Democratic Republic of Congo, Ivory Coast, Mozambique, Tanzania and Angola.
The IFC’s debt funding, which follows previous financing from Proparco and the Emerging Africa Asia Infrastructure Fund and equity from Roha Group and Meridiam, is intended to enable Raxio to double its data-centre deployment within three years.
Sarvesh Suri, IFC regional industry director, infrastructure and natural resources in Africa, said: “Raxio’s business model shows how digital infrastructure can empower businesses, governments and communities to thrive in the digital economy.
“This partnership between Raxio and IFC is set to strengthen Africa’s digital ecosystem and catalyse further investments and regional integration, building a more inclusive and sustainable future.”
Robert Skjødt, CEO of Raxio Group, said: “This funding from IFC is a powerful endorsement of Raxio’s vision and operational excellence. It will allow us to bring critical infrastructure to the regions that need it most and attract further investment as we continue to grow.
“Together with our other partners, we’re building the foundation for Africa’s digital future and setting new benchmarks for sustainability.”
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