Raxio Group has recently signed a significant financing agreement for $100 million with the International Finance Corporation (IFC). This funding is aimed at accelerating Raxio’s expansion of data centres that will power critical technologies such as artificial intelligence (AI), cloud computing, and digital financial services, all of which are vital for Africa’s economic growth and digital inclusion.
The debt financing from IFC is set to enable Raxio to double its deployment of high-quality colocation data centres within the next three years, effectively addressing the increasing demand in underserved markets across the continent. Raxio is in the process of developing a regional data centre platform across several countries, including Ethiopia, Mozambique, the Democratic Republic of Congo, Côte d’Ivoire, Tanzania, and Angola.
“Raxio’s business model shows how digital infrastructure can empower businesses, governments, and communities to thrive in the digital economy. This partnership between Raxio and IFC is set to strengthen Africa’s digital ecosystem and catalyze further investments and regional integration, building a more inclusive and sustainable future,” said Sarvesh Suri, IFC Regional Industry Director for Infrastructure and Natural Resources in Africa.
This financing commitment from IFC builds upon earlier debt funding from Proparco and the Emerging Africa Asia Infrastructure Fund (EAAIF), alongside equity investments from Roha Group and Meridiam. It also includes concessional funding from the GROW Facility, which promotes gender equity and inclusive economic growth through blended finance, as well as support from the IDA Private Sector Window aimed at encouraging private investment in some of the world’s poorest markets.
“This funding from IFC is a powerful endorsement of Raxio’s vision and operational excellence. It will allow us to bring critical infrastructure to the regions that need it most and attract further investment as we continue to grow. Together with our other partners, we’re building the foundation for Africa’s digital future and setting new benchmarks for sustainability,” said Robert Skjødt, CEO of Raxio Group.
