Robert Skjødt, CEO of Raxio Group (Photo: Business Wire)

As the competition to develop data centres in Africa heats up, Raxio Group, a Sub-Saharan African data centre platform, has struck a $100 million financing arrangement with the International Finance Corporation (IFC), a member of the World Bank Group.

According to the company, the funds will help Raxio expand its facilities that power essential technologies like as AI, cloud computing, and digital financial services, all of which are critical enablers of African economic growth and digital inclusion.

Furthermore, it stated that IFC loan finance will enable Raxio to double its network of colocation data centres within three years, addressing rising demand in underdeveloped markets across the continent.

Ethiopia, Mozambique, the Democratic Republic of the Congo, Côte d'Ivoire, Tanzania, and Angola are among the nations where the corporation is building a regional data centre platform.  

It said: “With a focus on high-growth areas, the company is tapping into regions with significant economic potential to unlock new opportunities across the continent.”

“Raxio’s business model shows how digital infrastructure can empower businesses, governments and communities to thrive in the digital economy,” said Sarvesh Suri, IFC regional industry director, Infrastructure and Natural Resources in Africa. 

“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.”

Robert Skjødt, CEO of Raxio Group, added: “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.”