WIOCC Group has confirmed the signing of a Shareholder Subscription Agreement (SSA) with Africa Finance Corporation (AFC) and Vision International Investment Company (Vision Invest), securing a combined US$300 million investment. The agreement gives WIOCC Group fresh capital to advance its long-term strategy for building open-access digital infrastructure across the continent.
The new capital will be directed toward three priorities: accelerating the deployment and consolidation of data centre capacity, extending the open-access terrestrial fibre footprint into new markets and adding strategically selected subsea assets that strengthen international connectivity. Each is intended to work with the others, rather than as standalone investments, so that clients gain more consistent performance as they move data between networks, facilities and borders.
The transaction also reflects continuity. WIOCC Group's existing shareholder base, made up of African telecommunications operators and long-standing development finance partners, is complemented by the new investment from AFC and Vision Invest. WIOCC Group said this combination of established and new backing gives the Group both the stability and the additional capital needed for its next stage of expansion.
Chris Wood, Chief Executive Officer of WIOCC Group, said, 'This transformative investment lets us do more of what WIOCC Group already does best: building the business-critical digital infrastructure that other companies rely on every day. Our clients need networks and facilities they can plan around for the next decade, not just the next contract cycle. This investment lets us deliver faster, at greater scale and across a broader geography than ever before.'
Joshua Smythwood, Group Chief Strategy and M&A Officer, WIOCC Group, added, 'Atransaction of this scale and structure, spanning multiple jurisdictions and shareholders, depends on disciplined execution. This agreement strengthens our position and gives us the capacity to deliver on that strategy. I would like tothank everyone involved, including our internal teams, Vision Invest, AFC, Lazard, who acted as financial adviser, and Baker Botts, who acted as legal counsel to WIOCC Group throughout the transaction.'
WIOCC Group said the transaction marks a deliberate step change rather than a departure from its existing direction. Having built its position in Africa's trusted digital infrastructure market since 2008, the Group intends to use the new investment to move faster on projects already under way, while keeping the open-access model that underpins its relationships with clients.
About Lazard
Lazard has been a leading player in the United Kingdom's financial centre since the firm opened its first London office in 1877. Today, the U.K. remains one of the largest operations in Lazard’s global network. Based in the heart of one of the world’s most international and connected financial hubs, with unrivalled access to global markets, Lazard U.K. advises clients on strategic matters including mergers and acquisitions, restructurings, debt and capital structure and capital raising. Lazard's client relationships are built on trust and discretion, drawing on more than 175 years of experience working with leading businesses globally.
About Baker Botts
Baker Botts is a leading global law firm. The foundation for our differentiated client support rests on our deep business acumen and technical experience built over decades of focused leadership in our sectors and practices. Our insights help clients see over the horizon and anticipate opportunities and challenges regarding their business objectives.
About Africa Finance Corporation (AFC)
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC'sapproach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa's infrastructure development needs and drive sustainable economic growth.
Nineteen years on, AFC has developed a trackrecord as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of energy, natural resources, heavy industry, transport, and telecommunications. AFC has 48 member countries andhas invested over US$19 billion in 36 African countries since its inception.
About Vision Invest
Vision Invest is a leading Saudi Arabian infrastructure investment and development company at the forefront of publicand private sector partnerships in the Kingdom of Saudi Arabia, and beyond. Contributing to sustainable economic development and growth, the company operates across a wide range of vital sectors, including energy transition, advanced digital infrastructure, resource recovery and preservation, transportand logistics, and social and economic infrastructure. Its portfolio footprint spans five continents, including Asia, Africa, Australia, and South America.
