PROJECT

Projects

Environmental & Social Review Summary

Project Number

51154

Company Name

WEST INDIAN OCEAN CABLE COMPANY LTD

Date ESRS Disclosed

May 13, 2026

Country

Africa Region

Region

Africa

Last Updated Date

May 19, 2026

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Dec 5, 2025
Signed : Dec 10, 2025
Invested : May 14, 2026

Sector

Wholesale Broadband - Terrestrial [Project only]

Industry

other

Department

Regional Industry - INF Africa

Project Description

WIOCC was established in 2007 for the development and operation of submarine and terrestrial fiber optic cable networks. In 2019, WIOCC established Open Access Data Centres (OADC) to expand into the development and operation of open access data centres, and in 2024, it established Open Access Metro Services (OAMS) to offer open access wholesale fibre-to-the-home/business (FTTx) infrastructure to internet service providers (ISP). Currently, WIOCC offers connectivity solutions throughout 30+ countries in Africa, operates 6 data centres in South Africa, Nigeria, and the Democratic Republic of Congo (DRC), with a combined installed capacity of 5.6 MW, and provides fibre-to-the-home/business (FTTx) services in Nigeria.

In 2007, IFC along with other development finance institutions (DFIs), approved loan financing for the Eastern Africa Submarine Cable System (EASSy, Project #25340), in which WIOCC was a majority shareholder. In 2022, IFC acquired a minority equity stake in WIOCC (Project #41580 and approved a new loan in 2024 (Project #48053) for the refurbishing of existing data centres in DRC, Johannesburg and Durban and the construction of new data centres.

The proposed IFC loan and parallel loans, which are partly mobilized by IFC, will help fund capital expenditure plans to expand WIOCC’s pan-African data centre network across the Target Countries, fund the expansion of WIOCC’s FTTx business in Nigeria, and fund capacity and network expansion for the connectivity business. IFC’s proposed financing package includes an equity investment of up to US$50 million and a sustainability-linked loan of up to US$20.4 million equivalent (a US$10 million tranche and a South African Rand tranche of US$10.4 million equivalent).

The project’s principal activities include: (a) acquiring capacity from existing submarine cables, (b) expanding data centre infrastructure, (c) growing the new fiber-to-the-home/business (FTTx), and (d) investing in terrestrial fibre. Key efforts are focused on increasing data centre capacity in South Africa and Nigeria through the construction of a new block at the Lagos (Lekki) Data Centre and the expansion of the current facility in Durban. Concurrently, connectivity efforts will add bandwidth by securing more capacity on major submarine cables like Equiano, EASSy, 2Africa West, and 2Africa Gera. The FTTx component will be implemented in partnership with a local ISP, with only limited last-mile construction expected.

Overview of IFC's Scope of Review

IFC’s Environmental and Social (E&S) review of this investment included (i) site visit to the Company’s offices in Nairobi - Kenya, site visits to Open Access Data Centres (OADC) in Kinshasa – DRC and Lagos - Nigeria; (ii) meetings with company representatives, including the OADC CEO, Corporate Human Resources (HR) Manager, ESG Director, Data Center Managers, Operating Country HR Leads, HSE Manager; and (iii) review of E&S documents and information provided. Also, the review was supported by an E&S Due Diligence (ESDD) of WIOCC Corporate operations conducted by an Independent Environmental and Social Consultant in March 2023 as well as a virtual appraisal by all lenders in May 2025. This appraisal was conducted in conjunction with ongoing supervision activities related to the active transactions for which the E&S performance remains satisfactory.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan