NEW YORK — EXIM-Backed Financing Guarantee Unlocks Capital, De-Risks U.S. Entry Into Africa’s Fast-Growing Digital Market
Top U.S. officials, Citi, U.S. tech leader Cybastion and a consortium of U.S. tech companies announced the Export-Import Bank’s first-ever $100 million financing guarantee in Africa’s digital sector for a national data center and digitalization project in Côte d’Ivoire.
Announced at an event on the sidelines of the U.N. General Assembly, the deal will help to de-risk U.S. private sector investment and positions American companies to capture growth in one of Africa’s fastest-expanding tech markets.
The EXIM Board of Directors approved more than $100 million in financing guarantees in August to support two major digital transformation projects: a $66 million guarantee on August 21 to support the construction of a national data center, and a $47 million guarantee on August 14 to export U.S. technology to digitalize the Ministry of Commerce and Industry.
The deal is supported through EXIM’s China and Transformational Exports Program (CTEP) and will open new investment opportunities for U.S. companies in Africa’s rapidly expanding digital infrastructure market.
“We are excited about this opportunity and are looking forward to doing additional opportunities,” said Jim Burrows, Acting First Vice President & Vice Chairman, Export-Import Bank of the United States.
“Digital infrastructure is going to be a major issue in Africa. We cannot miss the digital era and revolution,” said Patrick Jérôme Achi, Minister of State and Special Advisor to the President of the Republic of Côte d’Ivoire. Achi emphasized that the government is creating a business-friendly environment and laid down the infrastructure for the private sector to invest.
As the lead exporter, Cybastion, in collaboration with prospective U.S. technology partners, including Cisco, Hewlett Packard Enterprise, and Schneider Electric, among other tech leaders, to modernize government services through digitalization and build resilient digital infrastructure to advance the country’s digital sovereignty.
“By combining American innovation, financing, and expertise with support from the Ivorian government,” said Dr. Thierry Wandji, CEO of Cybastion. “This project with the support of EXIM is a win-win for both countries. The U.S. can sell the products. We can train the Ivorians. We can give them access to a new life by working on the digital economy because its transformational.”
“We are proud to work hand-in-hand with EXIM, the U.S. government, and our strategic partner Cybastion on a national data center and digitization project in Côte d’Ivoire,” said Fran Katsoudas, Cisco, EVP and Chief People, Policy & Purpose Officer. “As President Trump emphasized in his AI Action plan, success in the AI era requires strong public private partnerships. Cisco is proud to provide networking, security, and collaboration technology with our partners on this landmark project.”
“As partners with Cybastion, we are proud to help power Côte d’Ivoire’s digital future—building on our longstanding partnership with the government and our global expertise in data center solutions,” Diaretou Madina Gaye Dieng, President, Francophone Africa & Islands Cluster for Schneider Electric.
Citi, which has had a presence in Cote d’Ivoire for 50 years, is the major U.S. financier for both the state-of-the-art data center and digitalization projects in the Côte d’Ivoire. EXIM authorized $110 million in financing guarantees to the country.
“We have found a very strong partner in Cybastion especially when we look at digital infrastructure and cybersecurity across all of West Africa,” said Stephanie Von Friedeberg, Citi’s Global Head of Public Sector Banking, on financing.
Citing Cote d’Ivoire as one of the continent’s fastest growing economies,Will Stevens, Deputy Assistant Secretary for West Africa in the U.S. Department of State’s Bureau of African Affairs, emphasized “when American companies come and invest, they build up people.”
“That is what this is about,” said Stevens about the EXIM financing guarantee. “It’s having the U.S. government fill the gaps and be catalytic. Which is exactly why we have the tools like EXIM, DFC, and MCC.”
Cybastion is advancing a series of digital transformation projects in Cote d’Ivoire ranging from an eTourism platform and other digitalization initiatives with Ivoirian ministries and agencies, in partnership with a consortium of U.S. companies.
ABOUT CYBASTION: Cybastion is an American technology company that delivers world-class digital and cybersecurity solutions to accelerate Africa’s digital transformation. Visit www.cybastiontech.com
PRESS CONTACT:
Shanta Bryant Gyan, Cybastion
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