Tech

IFC partners SEACOM to boost digital connectivity in seven African countries

Published

1 year ago

June 24, 2023

The International Finance Corporation (IFC) has entered into a strategic partnership with South Africa’s digital infrastructure and IT services company, SEACOM, to grow its broadband cable network and cloud-based product offering in seven countries in Africa.

Under the partnership, IFC which provides financing of private-enterprise investment in developing countries around the world through both loans and direct investments, will be providing a $207 million long-term loan package to SEACOM to boost broadband access in Africa and increase the availability of IT services for small and medium-sized businesses.

Richard Schumacher, Group Chief Financial Officer at SEACOM, who announced the partnership in a statement on Friday, said the funding included $70 million from IFC’s own financing, $42.24 million co-financing mobilized from institutional investors through IFC’s Managed Co-Lending Portfolio Program (MCPP), and $94.76 million equivalent mobilized from Nedbank Limited and Mauritius Commercial Bank.

“Pursuing our expansion ambition in Africa will allow our company to leverage the opportunities created by the increasing demand for digital services.

“It is also a demonstration of a long-term partnership with the IFC. It will further provide access to affordable, good-quality internet is central to economic and social development.”

In the same vein, Sarvesh Suri, IFC’s Regional Director for Infrastructure and Natural Resources in Africa, said the “partnership with SEACOM will support the company in expanding much-needed digital infrastructure and cloud-based services to meaningfully connect more people and businesses on the continent.

“IFC anticipates that the investment will increase access to quality IT services for African businesses, enabling SEACOM to support the digital transformation of 24,000 enterprises in the region by 2027, including in low-income countries, by increasing access to the internet, and cloud and cybersecurity services.

“IFC’s digital strategy in Africa is aimed at enabling ubiquitous, reliable, and affordable connectivity. This includes investing in the growth of independent tower operators, data centers and broadband, and support to mobile operators primarily in fragile states and low-Income International Development Association countries (LIC-IDA),” he said.

Related Topics:Africa Featured IFC.Internet Connection Partnership SEACOM

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Tech

Ghana partners with The Gambia to provide free roaming services

Published

13 hours ago

November 21, 2024

Isaac Dachen

Ghana and The Gambia are in the process of launching free roaming services that will enhance a West African connectivity.

The plan which is a joint initiative of the Ghana Ministry of Communications and Digitalisation and The Gambian National Communications Authority (NCA) will see mobile users in both countries avoiding extra charges for calls, texts, and data, which in turn, is expected to boost trade, tourism, and economic integration across borders.

The collaboration, according to a joint statement by the two bodies, aligns with the Economic Community of West African States’ (ECOWAS) broader push for seamless regional communication.

“Ghana and The Gambia are forging new paths in West Africa’s digital landscape, implementing a free-roaming initiative,” the statement said.

“This move strengthens regional connectivity while highlighting the role of technological collaboration in fostering economic integration. The initiative enables mobile users travelling between the two nations to make calls, send messages, and use data services without additional roaming fees.”

It further noted that by reducing these costs, the program aligns with the ECOWAS Free Roaming Initiative, which seeks to eliminate barriers to communication across member states.

“It is a boost for trade and travel as the free roaming plan is expected to spur economic activities by streamlining cross-border communication.

“Businesses and individuals travelling between Ghana and The Gambia can now stay connected without worrying about exorbitant charges, facilitating smoother transactions and personal interactions. The initiative is also expected to attract more tourists by ensuring seamless digital access for visitors.

“This collaboration marks another milestone in Ghana’s commitment to expanding digital connectivity, following Ghana’s successful implementation of similar agreements with Côte d’Ivoire, Togo, and Benin, with talks of possible roaming partnerships with Liberia.

“By focusing on digital integration, Ghana and The Gambia demonstrate the power of technology to bridge gaps between countries. This step also serves as a model for other West African nations to join the free-roaming framework, contributing to the larger goal of a connected and economically integrated region,” it added.

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

2 days ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.