WIOCC raises USD 100 mln for Africa expansion from EAIF and AFD

Thursday 8 October 2020 | 11:12 CET | News
The West Indian Ocean Cable Company (WIOCC) has raised USD 100 million to finance the development of its internet connectivity offering in Africa, Ecofin reported. It received a loan of USD 40 million from the Emerging Africa Infrastructure Fund (EAIF) and USD 60 million from Proparco, a subsidiary of the French Development Agency (AFD). WIOCC says it will increase its customer base, create a more competitive market, and help lower wholesale and retail prices for connectivity.

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Categories: Fixed
Companies: Eassy / WIOCC
Countries: Africa
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