Washington bets big on African fibre with $155-million Wiocc deal

The US DFC will invest up to $155 million in South Africa's Wiocc Group, which owns subsea cables, fibre and data centers in more than 30 African countries. It is the DFC's largest equity investment and part of a US strategy to displace Chinese suppliers such as Huawei.

• DFC to invest up to $155 million in Wiocc Group, its largest equity investment
• Wiocc operates in over 30 African countries: cables, fibre, data centers
• US previously gave $100 million loan to Africell and $80 million for a Kenya data center
• Goal is to support US hyperscalers and compete with Huawei