IFC Invests Over $6bn To Accelerate Africa’s Digital Transformation as NITDA Pushes For Public-Private Partnerships
The International Finance Corporation (IFC) has restated its commitment to Africa’s digital transformation, revealing that it has invested more than $6 billion in the continent’s digital infrastructure in the last decade.
Speaking at the opening session of the inaugural GITEX Nigeria 2025 in Lagos, Dahlia Khalifa, IFC’s Regional Director for Central Africa and Anglophone West Africa, said the organization is scaling up efforts to strengthen broadband access, fiber connectivity, and modern data centers to position Africa as a globally competitive digital hub.
“Infrastructure is the foundation, but entrepreneurship is the engine,” Khalifa said. “To seize this opportunity, we need reliable broadband, robust data centers, and modern digital infrastructure. IFC is helping to unlock this future by mobilizing capital at scale.”
She disclosed that in 2024 alone, IFC invested more than $1 billion in connectivity projects, including $100 million for Raxio Group’s data centers and funding for WIOCC’s fiber expansion across Nigeria, the Democratic Republic of Congo, and South Africa. In Lagos, IFC-backed Rack Centre is already setting new benchmarks for green, sustainable data facilities.
According to her, such investments are critical as Africa’s digital economy is projected to contribute $180 billion to GDP by 2030 and create more than 230 million jobs in Sub-Saharan Africa. However, she noted that bridging infrastructure gaps, reducing technology costs, and addressing financing challenges will require stronger government-private sector collaboration.
Also speaking, the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, emphasized the government’s role in enabling innovation through the Nigerian Startup Act.
“The government is not just the creator of all this data, but a partner in the process,” Inuwa stated. “The Startup Act was created in a collaborative manner, bringing together innovators, entrepreneurs, and policymakers to design how we want our ecosystem to be.”
He explained that the Act established a Consultative Forum, which serves as a platform for government, industry players, and innovators to co-create and propose policies. These proposals are escalated to the National Council on Digital Innovation and Entrepreneurship, chaired by the President and Vice President alongside key ministers, regulators, and private sector representatives.
“For me, it is more like a partnership. How can we work together to create this? Today, Nigeria has a legal and institutional framework that enables the ecosystem to thrive,” the NITDA boss added.
Beyond infrastructure and regulation, IFC is also backing entrepreneurs through its Venture Capital Platform and Startup Catalyst Program, which support over 100 startups across fintech, healthtech, edtech, and e-commerce. Companies such as TradeDepot, Andela, and Wave Mobile Money are among the beneficiaries, creating jobs and expanding access to digital services across Africa.
Khalifa further identified Nigeria as “ground zero” for Africa’s AI revolution, stressing that responsible regulation, skills development, and sustained private sector investment are vital to ensure inclusivity.
“By harnessing AI and digital technologies responsibly, and by building the right partnerships, Africa can shape a digital economy that is inclusive, innovative, and globally competitive,” she said.
The GITEX Nigeria summit brought together government officials, investors, technology leaders, and entrepreneurs to explore how Africa can leverage emerging technologies to drive sustainable growth and strengthen its position in the global digital economy.
