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Bharti Airtel Buys Zain for $10.7 billion

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Zain has announced the signing of definitive agreements for the sale of 100% of Zain Africa BV, its African business excluding its operations in Morocco and Sudan (”Zain Africa”), to Bharti Airtel Limited (“Bharti Airtel”), for an Enterprise Value of  $10.7 billion.

The transaction implies an equity value of US$9 billion and consideration will be fully satisfied in cash, of which US$8.3 billion will be paid upon closing and US$0.7 billion will be paid one year from closing. Bharti Airtel will assume US$1.7 billion of consolidated debt obligations.

Subject to shareholder approval, the size of available distributable reserves and the repayment of the US$4 billion Revolving Credit Facility, Zain intends to distribute a large proportion of the upfront net proceeds to shareholders in the form of dividends.

The transaction is expected to close as soon as reasonably practicable subject to the satisfaction of certain approvals.

Commenting on the transaction, Mr Asaad Al Banwan, Chairman, Zain Group, said: “Since we acquired Celtel in 2005, we have grown substantially to become one of Africa’s leading mobile operators, and we are proud of the contribution Zain Africa has made to the development of communications across the continent. This transaction crystallises the significant value we have created for our shareholders over the last 5 years."

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Al Banwan added: “Bharti Airtel has a fantastic track record in running successful operations in the emerging markets and we are delighted that the African telecom operations that we so assiduously built are becoming part of such a committed and reputable telecom powerhouse. We wish Bharti Airtel all the very best for their future success in Africa.”

Mr. Nabeel Bin Salamah, CEO, Zain Group, said: "The transaction allows Zain to focus on its highly cash generative operations in the Middle East and to substantially improve its balance sheet. We are excited about the growth prospects of the Middle East and we believe Zain is well positioned to capture this opportunity.”

With this acquisition Bharti’s total customer base will increase to around 179 million in 18 countries. Bharti launched mobile services in India in 1995, Sri Lanka in 2009 and acquired Warid in Bangladesh in January 2010.

Mr. Sunil Bharti Mittal, Chairman and Managing Director, Bharti Airtel commented: “This agreement is a landmark for global telecom industry and game changer for Bharti Airtel. More importantly, this transaction is a pioneering step towards South-South cooperation and strengthening of ties between India and Africa. With this acquisition, Bharti Airtel will be transformed into a truly global telecom company with operations across 18 countries fulfilling our vision of building a world-class multinational.”

Mittal also noted: “We are excited at the growth opportunities in Africa, the continent of hope and opportunity. We believe that the strength of our brand and the historical Indian connect with Africa coupled with our unique business model will allow us to unlock the potential of these emerging markets. We are committed to partnering with the governments in these countries in taking affordable telecom services to the remotest geographies and bridging the digital divide. I would also like to compliment the Zain group for building world-class operations in Africa and we have enjoyed working with them on this transaction.”

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Mr Mittal further added, "The extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hardwork and support from SingTel and the external advisors. Appreciation is in order for all the team members involved in this transaction." 

UBS Investment Bank acted as lead financial advisor to Zain on this transaction. BNP Paribas acted as co-advisor to Zain in relation to this transaction.

 

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IMF Sees 4% AI Growth Boost for Africa

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Accelerating artificial intelligence (AI) adoption could increase Africa’s GDP by up to 4% over the next decade, according to the International Monetary Fund (IMF).

In a report released on Tuesday, titled Africa Can Grow Faster With AI—If It Moves Now, economists from the IMF’s Africa Department say current levels of AI adoption and utilisation are expected to contribute just 0.2% to the region’s GDP over the next 10 years.

However, the report says stronger adoption, supported by the right infrastructure and policies, could raise the economic impact to about 4% by extending AI beyond today’s digitally connected firms.

Martin Schindler and other IMF economists say: “AI adoption in sub-Saharan Africa currently lags well behind every other region. If richer economies race ahead while African firms and governments lag, the productivity gap between the region and the rest of the world will only widen.”

Early signs of AI adoption are emerging across Africa, with countries including Zimbabwe, Kenya, Egypt and Nigeria developing AI strategies.

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Telecommunications operators, including Vodacom, Econet, Africell and MTN, are also integrating AI into their operations and networks.

Other examples include chatbots supporting teaching and learning in Nigeria and the South African Revenue Service’s use of data analytics for targeted tax audits.

However, the IMF says AI adoption must extend beyond these early use cases to deliver meaningful economic benefits.

“For the region, AI’s main promise is not about replacing office workers, but boosting productivity across the economy—helping informal firms manage inventory, enabling farmers to increase yields, and supporting mid-sized firms to transition to formality and export readiness,” the report reads.

The IMF is urging governments to prioritise investment in reliable electricity, affordable broadband, data infrastructure and digital skills to support wider AI adoption.

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Many African countries, including Zimbabwe, Kenya, Ghana, Nigeria and Cameroon, continue to face electricity shortages, while broadband services remain costly and coverage is uneven.

The Fund believes stronger investment in power, connectivity, regional data infrastructure and digital skills would help unlock AI’s economic potential.

 

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NPC Opens Nationwide Digital Birth, Death Registration Platform

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National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.

NPC Opens Nationwide Digital Birth, Death Registration Platform

Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.

Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.

He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.

According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.

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“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.

“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.

The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.

He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.

Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.

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He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.

He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.

Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.

Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.

He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.

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The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.

The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.

The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.

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YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

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Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.

YEDC Warns Customers, Says 20 Percent Electricity Bonus is Scam

In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.

According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.

The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.

YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.

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The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.

The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.

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