Ghana is set to receive $300 from the United States government as part of the International Finance Corporation (DFC) for African countries.
The sum is a private investment to help construct Accra’s first-of-its-kind data center.
Ghana is a beneficiary of the facility because of the renewed investor confidence in the economy following the approval of the $3 billion bailout by the International Monetary Fund (IMF), according to Finance Minister Ken Ofori-Atta in a tweet.
“Very positive development from meeting with the US Development Finance Corporation (DFC). The DFC is keen and ready to explore sovereign lending and private sector opportunities in Ghana”, he posted.
Following the #IMFDeal, the @UnitedStates has led the way to signal renewed confidence in Ghana as an attractive investment destination. We welcome the announcement of a $300m private capital investment through @DFCgov, to build a first-of-its-kind data center in #GhanaRising https://t.co/oxWPKPh0ss
— Office of the Finance Minister-Ghana (@oofmghana) May 20, 2023
Under the Partnership for Global Infrastructure and Investment at the G7 Summit, the USG resolved to construct data centers throughout Africa.
DFC announced it is using its $300 million loan facility to Africa Data Centers (ADCs), Africa’s largest network of interconnected data facilities, to construct a first-of-its kind data center in Ghana.
Africa accounts for less than one percent of total available global data center capacity despite being home to 17 percent of the world’s total population.
This investment builds on Vice President, Dr. Bawumia’s recent trip to Ghana and is laying the groundwork for a digital revolution on the continent by increasing access to cloud-based technologies, bringing down the cost of internet, which facilitate greater access to women, and making the continent a more competitive destination for industry.