Tuesday, 02 January 2024 12:17 GMT

US Backs $100M Digital Push In Côte D'ivoire


(MENAFN- The Arabian Post)

The Export-Import Bank of the United States has authorised over $100 million in financing guarantees to support two flagship digital infrastructure projects in Côte d'Ivoire. The package includes a $66 million guarantee for a national data centre and $47 million for technology exports intended to digitalise the Ministry of Commerce and Industry.

The deals, approved in August under EXIM's China and Transformational Exports Program, were formally unveiled on the sidelines of the U. N. General Assembly in New York. The move aims to de-risk U. S. private sector entry into Africa's burgeoning digital sector.

EXIM officials, Cybastion, Citi, and U. S. government representatives attended the announcement. Jim Burrows, Acting First Vice President & Vice Chairman of EXIM, said that supporting U. S. exports in strategic sectors like digital infrastructure helps bolster American economic competitiveness while enabling global reach.

Côte d'Ivorian authorities voiced strong endorsement. Patrick Jérôme Achi, Minister of State and Special Adviser to the President, described the push as critical to entering“the digital era and revolution.” He added that the government is prioritising a business-friendly framework to attract private investment.

Cybastion, the lead U. S. tech firm in the initiative, will oversee equipment deployment in collaboration with partners including Cisco, Hewlett Packard Enterprise, and Schneider Electric. Dr Thierry Wandji, CEO of Cybastion, remarked that combining U. S. innovation and Ivorian support can create a“transformational” ecosystem.

Citi, with a half-century presence in Côte d'Ivoire, acts as principal financier of the data centre and digitalisation programme. Stephanie Von Friedeberg, Citi's Global Head of Public Sector Banking, said the bank had found a“strong partner in Cybastion,” citing shared ambitions for boosting digital infrastructure and cybersecurity across West Africa.

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In a notable twist, Visium Technologies has secured a $20 million contract under the broader EXIM scheme to deploy its AI-driven cybersecurity platform, TruContext, to safeguard both the national data centre and government digital systems. This contract marks Visium's largest international undertaking to date.

U. S. State Department officials framed the initiative as catalytic. Will Stevens, Deputy Assistant Secretary for West Africa, observed that U. S. agencies like EXIM, DFC, and MCC play complementary roles in filling gaps and unlocking private investment in strategic markets.

The two projects fall under a broader push by EXIM's Africa mandate, which aims to reduce transaction risk and promote U. S. export competitiveness. Under its Sub-Saharan Africa strategy, EXIM offers guarantees covering up to 100 per cent of financing risk and allows support for local costs up to 50 per cent in eligible markets.

Observers see this deal as part of growing U. S. efforts to challenge rival powers in Africa's tech space. Digital infrastructure-data centres, cloud services, cybersecurity-has become a frontier of geopolitical influence in the continent's development trajectory.

Analysts say success in Côte d'Ivoire could create a template. If the digital projects deliver robust performance, other African nations may follow with similar models, leveraging U. S. backing to crowd in private investment.

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