Meaningful participation in today’s digital economy requires a high-speed broadband connection to the Internet. Digital infrastructure underpins better-functioning, more inclusive and more connected societies and is critical to delivering the UN Sustainable Development Goals (SDGs). According to the World Bank, Sub-Saharan Africa is the least connected region in the world with only 30% of the local population connected to the Internet in 2020.
The Fund invests in digital infrastructure and digital services with a vision of bridging the digital divide in Africa. Specifically, it aims to enhance the availability, quality, capacity, and affordability of networks with an objective of digital inclusion in Africa.
The Fund enhances the digitalization of existing SMEs and mid-market companies and supports the emergence of start-ups and other innovative digital companies (SDG 8). Investments in fibre and wireless infrastructure and digital services can be expected to contribute to provide universal and affordable access to the Internet (SDG 9). Besides SDG 8 and SDG 9, the Fund is an enabler of the achievement of the SDGs more broadly. Digital infrastructure increases access to information and services, establishes connectivity between people and organizations, drives productivity and resource efficiencies, and provides the backbone for innovation and digital economies.