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20.80 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.80
Equity

* These investment figures are indicative

WIOCC has been an investee of the IFC since 2008, with its most recent investment being the WIOCC SLF Loan which sought to bolster the Company's growth in connectivity and data center expansion across Nigeria, South Africa, and the DRC. The project's ex-ante rating was Good, based on a score of 60. This new investment builds upon this earlier project by introducing a new fiber to premises business model in Nigeria whilst facilitating further investments in terrestrial and submarine connectivity and data centers. The Project Outcomes will derive from its stakeholder effects to increase the capacity of broadband services in Sub-Saharan Africa, resulting in improved quality of broadband internet for end-users. These outcomes would be achieved by supporting the Company in its strategy of scaling up its new fiber to premises business in Nigeria while expanding its submarine cable capacity and terrestrial fiber infrastructure to cover up to 10 African countries. The project is also expected to improve access to data hosting services for businesses by expanding data center capacity in South Africa, Nigeria and DRC. Beyond the Project, and focusing on the Nigerian market, the Market Outcomes will derive from the capacity of this project to increase the competitiveness of the broadband market in Nigeria through competition channels. Through this project, the Company is expected to demonstrate the viability of rolling out fiber access connections, including by expanding its take-or-pay wholesale model, resulting in competitive pressure on its competitors to roll-out more fiber and potentially replicate the business model. The project could thereby also improve ISPs’ ability to compete downstream and offer improved retail services to end-users.

IFC additionality in this transaction is primarily financial and involves (i) the Financing Structure based on IFC providing a loan denominated in US$ and local currency, as well as (ii) Resource mobilization for the loan tranches, with Proparco and EAIF as co-investors in this transaction.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Fiber Cable Installed	KM		Not Available	Not Available	Not Available
Population Coverage : households passed	households		Not Available	Not Available	Not Available

This is a Category B project according to IFC’s Environment and Social Sustainability Policy (2012). The project is expected to have potential limited adverse E&S risks and impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. Key E&S risks and issues include (i) the implementation effectiveness of the Company’s E&S management system (ESMS) and organizational capacity to assess and manage E&S risks and impacts, in line with IFC PSs; (ii) management of labor and working conditions and occupational health and safety (OHS); (iii) Contractor management; (iv) resource efficiency and pollution prevention; (v) emergency preparedness and response plan (EPRP), including life and fire safety (L&FS); and (vi) stakeholder engagement and external grievance mechanism.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.