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Smile to Sink $292m in Nigeria’s Investment Portfolio

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Smile Communications, the 4G LTE broadband service provider of choice, has disclosed plans to invest larger share of the funds it recently raised on the Nigerian business portfolio.

Smile Telecoms Holdings Ltd (‘Smile’), which owns and operates mobile wireless 4G LTE broadband networks in the 800MHz band in Nigeria, Tanzania and Uganda, recently announced that it has raised USD 365 million of debt and equity financing (‘the funding’).

Speaking to journalists in Lagos over the weekend, Dr. Azudialu Obiejesi, chairman, Smile Communications Limited (Nigeria), disclosed that about 80% of the funds shall be invested in Nigeria, representing about $292million of the total sum.

The funding is comprised of USD 50 million of equity, raised from the Public Investment Corporation on behalf of Government Employees Pension Fund (‘PIC’) and a USD 315 million multi-tranche, multijurisdictional debt facility led by African Export-Import Bank, with participation from the Development Bank of Southern Africa, Diamond Bank PLC, Ecobank Nigeria, the PIC, the Industrial Development Corporation of South Africa Limited and Standard Chartered Bank.

Smile’s shareholders now comprise the Al Nahla Group, a Saudi Arabia-based company, which is the majority shareholder; Renven Investment Holdings, a pan-African investment vehicle in which Nigerian investors, including the Obijackson Group, own the majority share; Verene, representing Smile senior management and social entrepreneurs from South Africa; Telecom Investments, a Saudi Arabia-based investment company; Capitalworks, an active alternative-management company specialising in investment in the African mid-market; the PIC; and Smile employees.

Under the terms, the funding will be used to accelerate national network roll-out, including equipment and services provided by Alcatel-Lucent and Ericsson, a full MPLS (Multiprotocol Label Switching) network, a London point of presence and expanded international backhaul services, as well as to fund operational expenditure and working capital. 

On what percentage of the funds is Smile doling out for investment in Nigeria, Obiejesi said, “If you look at the analysis with regards to Smile as a pan-African company, but the majority of the business is in Nigeria. This is market where about 80% of Smile business comes from. So, it is also expected that about 80% of that money will be spent in Nigeria.

“This is the economy the company hopes to invest and recoup its resources too. This is where we have the population, growth tendencies, the businesses, and the oil and shows you that Nigeria is very large and sustainable for businesses too. Therefore, both in infrastructure deployment and the funds usage, it is expected that Nigeria will have a fair share. Other market will be sharing the remaining percentage.

“This simple analysis was part of the reasons the pan-African banks doled out the funds. They know Nigeria has the capacity to give back what is invested”.

The Chairman reiterated that Smile’s objective is “to become the broadband provider of choice for superfast data and clear voice in each of its markets and to provide over 300 million potential customers in its four countries of operation with a fast, reliable and high-quality platform to accelerate development and wealth creation”.

 


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Airtel Nigeria Commits to Boosting Nigeria’s Digital Infrastructure

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Airtel Nigeria has reaffirmed its long-term commitment to strengthening Nigeria’s digital infrastructure and data access to bridge gaps in connectivity and unlock new opportunities in the country.

The company restated this commitment during a recent high-level inspection tour of the Nxtra Data Centre that is being developed through Nxtra by Airtel Africa at Eko Atlantic, Lagos, the highly rated smart city with ambition to become the Data Centre hub of Nigeria.

The inspection tour was led by the Chief Executive Officer of Airtel Nigeria, Dinesh Balsingh and the Chief Executive Officer of Nxtra by Airtel Africa, Yashnath Issur, with the esteemed chairman of Eko Atlantic Mr. Gabbi Massoud, the CEO of the lead Engineering firm Design Group Limited, Mr. Bayo Odunlami and tech journalists.

The Nxtra Data Centre went through a stringent design validation process and cleared the approval to proceed construction from Eko Atlantic.

Commenting on the developments, Mr Issur said the site visit was a milestone marker and an indication of the company’s commitment to delivering the world-class digital facility on time and ensure that, ultimately, the investments deliver reliable, secure, world-class services for Nigeria and the rest of the continent.

“This Nxtra Data Centre in Lagos represents a critical part of our long-term vision for Nigeria’s digital ecosystem. Today’s visit allows us to review progress, engage our stakeholders, and ensure that our infrastructure investments continue to meet global standards and local needs.

“This data centre will deliver critical high multi megawatt capacity in line with hyperscale customers and enable high density environment. We are putting the infra to bring the cloud to Nigeria,” he said.

The data centre, set to be the largest in Nigeria, is being established to deliver hyperscale and edge facilities across key African markets. With a load of 38 Megawatts, the Lagos facility is expected to serve as a major hub for data hosting, cloud services, content distribution, artificial intelligence, and enterprise solutions in West Africa.

In his remarks, Mr Balsingh reiterated that the data centre was progressing steadily towards the previously announced 2028 go live date.

“Since the announcement of this project, our focus has been on building a world-class facility that supports Africa’s digital transformation agenda. We are encouraged by the progress recorded so far and remain committed to delivering a secure, energy-efficient, and future-ready data centre for Nigeria,” he said.

During the tour, stakeholders were ushered through key sections of the site, including piling zones, where required structural requirements have been tested. Technical teams provided briefings on infrastructure design, security architecture, redundancy systems, and sustainability measures being implemented to ensure reliability and operational excellence.

Strategically located close to major fibre routes and undersea cable landing stations, the Eko Atlantic data centre is designed to enhance Nigeria’s data sovereignty, reduce latency, and improve access to reliable digital services for private and enterprise customers, significantly boosting the country’s data hosting capacity and supporting emerging technologies such as artificial intelligence and cloud computing.

Mr. Massoud noted that the inspection tour underscored the city’s dedication to infrastructure of global relevance.

“Eko Atlantic as a city with high quality infrastructure will contribute positively to boost the economy of Nigeria and is a perfect place for the development of the digital infrastructure of Nigeria. The Nxtra data centre reflects the calibre of projects we seek to attract — long-term, technology-driven investments built to the highest global standards.

Today’s visit affirms the rigour of the planning and execution process by Nxtra, and the commitment of Eko Atlantic to facilitate and promote the Nigeria’s evolving digital ecosystem,” he said.

Through this ongoing investment, Airtel Nigeria and Nxtra continue to demonstrate their commitment to building infrastructure that enables innovation, supports economic development, and accelerates Nigeria’s digital transformation.

Nxtra by Airtel is developing a network of hyperscale data centres across the continent. Besides Lagos, construction of a new data centre has also commenced in Nairobi, Kenya and the Democratic Republic of Congo.


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Google, African Partners Launch WAXAL to Empower 100m Africans in AI Era

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Google has partnered with top African research institutions to unveil WAXAL, a massive open-access speech dataset aimed at giving over 100 million people across Sub-Saharan Africa a stronger voice in the AI future.

Google, African Partners Launch WAXAL to Empower 100m Africans in AI Era

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The initiative, announced Monday, targets a key digital gap by supplying high-quality data for 21 local languages, such as Hausa, Yoruba, Luganda, and Acholi. It includes 1,250 hours of transcribed natural speech and more than 20 hours of studio-grade recordings for advanced synthetic voice tech.

Voice AI has exploded globally, yet Africa’s 2,000-plus languages suffer from severe data shortages, sidelining hundreds of millions from native-tongue tech access. WAXAL, three years in the making with Google funding, changes that equation.

“This dataset lays the groundwork for students, researchers, and entrepreneurs to craft tech in their own languages, impacting over 100 million lives,” said Aisha Walcott-Bryantt, Head of Google Research Africa.

She highlighted its potential for African innovators to develop educational tools and voice services that spark economic growth continent-wide.

Community-led from the start, the project involved Makerere University (Uganda), University of Ghana, Digital Umuganda (Rwanda), and others. These partners own the data outright, pioneering fair AI collaboration models.

Covered languages: Acholi, Akan, Dagaare, Dagbani, Dholuo, Ewe, Fante, Fulani (Fula), Hausa, Igbo, Ikposo (Kposo), Kikuyu, Lingala, Luganda, Malagasy, Masaaba, Nyankole, Rukiga, Shona, Soga (Lusoga), Swahili, Yoruba.

WAXAL goes live today. Details at goo.gle/IntroducingWaxal.


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NCC Hails $1Bn Telecom Surge as Networks Hit New Highs

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Nigerian Communications Commission (NCC) has unveiled its Q4 2025 Network Performance Reports, showcasing nationwide quality boosts fueled by over $1 billion in industry investments and sharper regulatory focus.

NCC Hails $1bn Telecom Surge as Networks Hit New Highs

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Speaking at the launch, Dr. Aminu Maida, executive vice chairman, NCC,  hailed the Ookla-backed data as proof of NCC’s drive for transparent, evidence-driven oversight of Nigeria’s digital growth.

The reports track real-user experiences across cities, villages, highways, and nascent 5G areas, revealing faster median download speeds in both urban and rural spots versus Q3 2025.

Video streaming quality gaps between city and countryside have shrunk, thanks to a beefed-up 4G network—yet 5G rollout lags, upload speeds falter, and coverage holes linger in spots.

Maida said NCC is leaning on operators to fix these via spectrum tweaks, infrastructure drives, and stricter service rules, with 2025’s 2,850 new sites already paying off in broader reach and capacity.

Operators pledge even bigger spends in 2026 to keep the momentum, aiming for top-tier connectivity and economic inclusion for all Nigerians.

“We’ll turn these insights into real gains in service and access,” Maida affirmed, calling for sustained industry teamwork.


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