AFC, Vision Invest commit $300m to boost Africa’s digital network

The Africa Finance Corporation (AFC) and Saudi Arabia-based Vision International Investment Company (Vision Invest) have committed a combined $300 million to WIOCC Group, in a major investment aimed at accelerating the expansion of digital infrastructure across Africa.

The investment, formalised through a Shareholder Subscription Agreement (SSA) signed at the LEAP 2026 Global Technology exhibition in Riyadh, is expected to strengthen WIOCC’s capacity to deploy data centres, expand terrestrial fibre networks and invest in subsea cable infrastructure across the continent.

WIOCC Group, which operates in more than 30 African countries, said the investment would support its long-term strategy of building and operating carrier-neutral, open-access digital infrastructure to meet the continent’s rapidly growing demand for connectivity, cloud computing, artificial intelligence (AI) and other digital services.

The deal comes as Africa continues to face a significant digital infrastructure gap. Data cited by WIOCC from the International Telecommunication Union (ITU) shows that only 35.7 per cent of Africa’s population was using the internet in 2025, compared with a global average of 73.6 per cent.

The company said the gap, coupled with accelerating demand for data and AI services, underscores the need for large-scale investment in fibre networks, data centres and subsea connectivity.

The investment will enable WIOCC to accelerate data centre deployment and consolidation, increase its open-access terrestrial fibre footprint and invest strategically in new subsea assets, according to the company.

Commenting on the deal, AFC President and Chief Executive Officer, Samaila Zubairu, said digital infrastructure had become as critical to Africa’s economic development as transport and energy infrastructure.

“The Africa we build must be connected, competitive and equipped to create value from the digital economy, not only consume it,” Zubairu said.

He said fibre networks, data centres and subsea cables were now essential infrastructure for economic growth, innovation and AI, adding that the investment would expand the open-access digital backbone required by African businesses and communities to compete globally.

WIOCC Group Chief Executive Officer, Chris Wood, said Africa was positioned to benefit from the next phase of global digital growth but would require robust and scalable infrastructure to unlock that potential.

He said the fresh capital would allow the company to accelerate its expansion strategy while strengthening connectivity within Africa and between the continent and international markets.

According to Wood, WIOCC plans to deploy the investment across three major areas: data centre expansion, expansion of terrestrial fibre infrastructure and strategic investments in subsea assets.

The company has grown into one of Africa’s largest open-access digital infrastructure platforms since its establishment, with backing from African telecommunications operators and international development and investment institutions.

Its shareholders include Uganda Telecom, Dalkom Somalia, Djibouti Telecom, Mozambique Telecom (TMCEL), Zanzibar Telecom (Zantel), Botswana Fibre Networks (BoFiNet), Lesotho Communications Authority, ONATEL, TelOne and Telkom Kenya.

WIOCC has also received backing from international institutions including the International Finance Corporation (IFC) and African Capital Alliance (ACA).

Vision Invest President and Chief Executive Officer, Omar N. Al-Midani, said the investment reflected the growing importance of digital infrastructure to Africa’s economic future.

He noted that Africa is home to the world’s youngest population and is projected to account for more than one-quarter of the global population by 2050.

According to him, the continent’s expanding population and rising demand for digital services will require significant investment in connectivity and digital ecosystems.

The deal also deepens the involvement of Saudi Arabian capital in Africa’s infrastructure development, bringing Vision Invest together with AFC and WIOCC’s existing shareholders to finance the expansion of critical digital assets.

WIOCC Group Chief Strategy and M&A Officer, Joshua Smythwood, said the investment would strengthen the company’s financial position and provide greater capacity to respond to the evolving needs of customers across African markets.

AFC, established in 2007, has invested more than $19 billion across 36 African countries and currently has 48 member countries. Its investments span infrastructure sectors including energy, transport, telecommunications, natural resources and heavy industry.

For WIOCC, the $300 million investment represents a significant capital injection at a time when the continent is seeking to close its digital divide and build infrastructure capable of supporting the next wave of cloud computing, AI, data-driven businesses and cross-border digital services.

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