MoU signed with Government of Cape Verde for infrastructure development

On 1 July 2019, at the Cape Verde Investment Forum hosted by the Government of Cape Verde (GoCV) on the island of Sal, IIB Group and the GoCV signed an MoU for cooperation on infrastructure development.

The MoU coincided with launch at the Forum of the Cape Verde Infrastructure Fund, a €250m vehicle to be established with IIB Group and GoCV as founding partners. The fund is aimed at upgrading, or building new, infrastructure principally in the transport, energy, water and communications sectors. It will be established in Luxembourg with the manager located in Lisbon. The first closing of the fund is foreseen in Q4 2019 at €50m and the final closing is expected in Q4 2020 at €250m, to be followed by a five-year investment period and ten-year overall fund life.

From left to right: Mr. João Poppe (IIBG), Mr. César Ferreira (IIBG), H.E. Olavo Correia (Vice Prime Minister, Cape Verde), H.E. Gilberto de Barros (Secretary of State for Finance, Cape Verde), Dr. Shakeib Arshad (IIBG), Dr. João Santos (Advisor to the Vice Prime Minister of Cape Verde).

IIB Group awarded licence for construction of fiber optic network in Djibouti

On 7 July 2019 IIB Group secured a license for construction and operation of a fiber optic network in Djibouti to deliver point-to-point networking and internet connectivity.

The new network, AfriFibre, will be the first in Djibouti to combine high speed, secure communication and reliability, enabling users across education, government and business to transform their information systems and e-services. 

Construction of the network will begin during July 2019 with operations in Djibouti foreseen from early 2020. Further upgrades of the network are planned to extend geographic coverage into the wider Eastern African region and beyond.

IIB Group awarded licence for construction of a diversified Information and Communication Technology Park in Djibouti

On 7 July 2019 IIB Group secured a license for construction and operation of a diversified ICT Park in Djibouti. The leading facility at the Park will be a 1000-rack Tier III data centre, built in stages with operations starting in late 2020. The Park will include renewable energy infrastructure to support availability at Tier III level and will benefit from high-quality local and international fibre-optic connectivity, utilising IIB Group’s proprietary fibre optic network, AfriFibre, as well as submarine cables operated by Djibouti Telecom.

The data centre will provide managed ICT infrastructure to local and regional public and private sector clients; it will host data and applications for use by clients as well as their customers; and will provide back-up and rapid recovery services to ensure business continuity for its clients. 

In addition, the Park will provide ICT education and training facilities, software development services, hardware installation and maintenance services, ICT consulting services, business incubation services and conferencing facilities together with onsite accommodation for visitors.

The broad ICT ecosystem at the Park is expected to generate several hundred jobs on site, more than a third of these being highly skilled positions. Over time, a much larger impact can be expected on the wider economy, in the form of transfer of technology and build-up of technical capacity in the country, incubation of ICT-related start-ups, enhanced efficiency and productivity of the Park’s client community through access to improved ICT infrastructure and an uplift in Djibouti’s profile on the international stage as an enabled destination for international business. 

Construction of the Data Centre is foreseen from July 2019 with operations beginning in late 2020 at completion of a first phase with 200 racks. In subsequent months the data centre will continue to expand in parallel with implementation of other elements of the Park.