Invest in the African Submarine Cable System

💖 This Week's Byte

The International Finance Corporation (IFC) has made significant investments in an African digital infrastructure provider, aiming to address the reliability and affordability challenges in the continent’s internet connectivity. The continent holds critical vulnerabilities in its undersea cable system.

📊 Did You Know?

It has been reported that “submarine cable systems currently carry 99 percent of all international communications.” Behind the scenes, there are 570 in-service systems with another 81 planned, according to TeleGeography.

📖 The Story

Who, When, and Where — Context

In late 2022, IFC announced a further investment in West Indian Ocean Cable Company Holding (WIOCC Group), a leading digital connectivity and infrastructure provider in Africa.

Why — Challenge

As IFC’s 2024 report “Digital Opportunities in African Businesses” highlighted, the continent has suffered from incomplete digitalization. The research highlights the persistent issues in last-/middle-mile connectivity to the internet, firms' use of digital tools for mission-critical and productive work, the cost of digital tools and infrastructure, and the lack of access to financing.

What and How — Tech Solution

IFC had made a $30 million equity investment in WIOCC Group. This is to support the continued rollout of terrestrial fibre optic networks, investment in new subsea cables, and the launch of open-access core and edge data centre infrastructure across the continent. IFC aims to enable reliable and affordable connectivity in Africa. The downstream impact can be observed in Malawi, a landlocked country in sub-Saharan Africa, for example.

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💡 Key Insights

• 🌍️ Africa’s digital infrastructure has yet to be developed by solidifying subsea cable systems.

• 🔑 Reliability and affordability of the internet connectivity have been huge challenges, making the continent’s digitalization efforts incomplete.

• 💰️ Both material and financial investments are required for accelerating digital transformation in the least connected continent.

💘 Your Altruistic Agenda

✅ Read the tangible vulnerabilities in Africa’s undersea digital infrastructure.

🇲🇼 How has one of the poorest countries in the world made strides toward digital transformation? Learn from firsthand insights, stories, and facts.

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