WIOCC Investment (IFC-38381)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 6, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
WEST INDIAN OCEAN CABLE COMPANY LTD
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 56.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 26, 2017

Disclosed by Bank Sep 6, 2016


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Project Description
Western Indian Ocean Cable Company Ltd. (&#8220;WIOCC&#8221; or &#8220;the Company&#8221;) was incorporated in 2007 and is an existing IFC client. The Company is a neutral carrier of carriers, offering connectivity to over 20 countries in Africa. It provides telecommunication carriers with regional and international capacity into and out of Africa. WIOCC services include: point-to-point connectivity between locations on its global network, IP Transit and colocation services for ISPs. <br><br>IFC will be providing a financial package of up to US$20 million to fund the ongoing regional expansion of the Company. WIOCC plans to expand and augment its network in the region through the acquisition of additional capacity in Africa, increase connectivity to other fibre optic systems, upgrade its capacity on the EASSy cable and purchase network equipment.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Chris Wood - CEO West Indian Ocean Cable Company Limited, Level 2, Alexander House, Silicon Avenue Ebène Cybercity 72201 , Republic of Mauritius Telephone: +254 20 4212000 http://www.wiocc.net ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/