The International Finance Corporation (IFC), a member of the World Bank Group, has committed $100 million in debt financing to Raxio Group, a sub-saharan African data center operator.

The funding will enable Raxio to double its deployment of data centers across Africa within three years, addressing the surging demand for digital infrastructure in underserved African markets.

The company is currently developing data centers in Ethiopia, Mozambique, the Democratic Republic of Congo, the Ivory Coast, Tanzania, and Angola.

“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: “[The funding] 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.”

Founded in 2018 by the Roha Group, Raxio has received earlier debt funding from Proparco and the Emerging Africa Asia Infrastructure Fund, as well as equity investment from Roha Group and Meridiam.

The IFC’s financing has included concessional funding from the GROW facility, which seeks to advance gender equity and inclusive economic growth through blended finance, and the IDA Private Sector Window, which supports private investment in the world’s poorest and most fragile markets.