U.S. President Joe Biden commits $300-million credit facility to Strive Masiyiwa’s ADC

President Joe Biden has unveiled a $300-million credit facility through the U.S. International Development Finance Corporation (DFC) for Africa Data Centres (ADC), Africa’s leading network of interconnected data facilities owned by Zimbabwe’s richest man Strive Masiyiwa.

The $300-million facility, made possible by the U.S. government’s Partnership for Global Infrastructure and Investment (PGII) initiative, will be directed toward setting up a state-of-the-art data center in Ghana, solidifying Africa’s position in the digital revolution.

According to reports, Biden highlighted the importance of this investment during the 49th G7 summit in Hiroshima, Japan, last week. The U.S. government, under the PGII, is actively supporting ADC’s mission to expand data centers across Africa.

The investment comes at a crucial time, as Africa currently accounts for less than one percent of the global data center capacity despite housing 17 percent of the world’s population.

The new data center in Ghana, supported by the facility, aims to bridge this gap and pave the way for a digital revolution on the continent. It will provide increased access to cloud-based technologies, lower internet costs, and foster a competitive environment for industries in Africa.

ADC, owned by Masiyiwa, is as a carrier-neutral data center provider affiliated with Cassava Technologies, a renowned group specializing in fiber and telecom solutions. 

The company’s mission under the ownership of Masiyiwa is to provide essential infrastructure to support organizations in achieving their digital goals.

Its commitment to sustainability and reliability strengthens its position as a leader in the data center industry.

Earlier this year, ADC signed a groundbreaking 20-year Power Purchase Agreement (PPA) with Distributed Power Africa (DPA) to supply its facilities in South Africa with renewable solar energy.

The move comes as South Africa grapples with prolonged electricity shortages. 

The company recently announced plans to establish a cutting-edge data center facility in Nairobi, Kenya, reflecting the company’s dedication to meeting the growing demand for data center services in the region.

By strategically targeting Kenya, ADC aims to enhance the country’s digital transformation and attract international cloud providers, hyperscalers, and ICT companies.

The partnership between the U.S. government and ADC is a milestone in Africa’s journey toward technological advancement.

Through the partnership, the region is poised to accelerate its digital capabilities, foster economic growth, and create opportunities for businesses and individuals.

Feyisayo Ajayi
Feyisayo Ajayi
Feyisayo Ajayi is a financial reporter for Billionaires.Africa. He covers topics ranging from company valuations to educational technology. Feyisayo holds a degree in geology from the acclaimed University of Ibadan.

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