World Bank Group member the International Finance Corporation (IFC) has entered into a partnership with independent fibre and digital services provider Liquid Intelligent Technologies to increase digital connectivity and inclusion in Africa and to support the region’s growing digital ecosystem.
The partnership aims to expand data centre capacity and the roll-out of fibre-optic cable across Africa to support universal and affordable broadband access.
“We are very pleased that the IFC continues to support Liquid. “The investments in our data centres and fibre broadband network will directly support our growth plans over the coming years by encouraging the adoption of new services such as the cloud and other digital services, services that are critical in driving sustainable development across Africa,” says Liquid Intelligent Technologies executive chairperson and founder Strive Masiyiwa.
TheIFC’s equity and debt investments in Liquid Intelligent Technologies, which, to date, total about $250-million, will support the company to grow its hyperscale data centre capacity in Egypt, Kenya, Nigeria and South Africa through its subsidiar, Africa Data Centres.
The investments will also support Liquid Intelligent Technologies’ continued roll-out of its fibre broadband network, which currently spans more than 100 000 km across sub-Saharan Africa.
“The continued build-out of the network will help to connect businesses and individuals to the Internet across the continent and position Liquid Intelligent Technologies to be at the forefront of Africa’s digital transformation with the provision of complementary digital services,” he says.
“Digital technologies are rapidly transforming how people, businesses and governments communicate, transact and access information and services. “By working with Liquid Intelligent Technologies, we can help expand access to infrastructure and digital services that power Africa’s digital economy, creating new opportunities for growth and jobs. This is an essential element for Africa’s economic transformation and building back better,” adds IFC MD Makhtar Diop.
Sub-Saharan Africa requires about $100-billion and at least 250 000 km of new fibre to achieve universal, affordable and high-quality broadband access.
IFC’s digital strategy in Africa is aimed at enabling ubiquitous, reliable and affordable connectivity, which includes investing in the growth of independent tower operators, data centres and broadband, as well as support to mobile operators primarily in fragile and conflict situations and low-Income International Development Association countries.