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AfDB Approves $66M for MainOne Undersea Fibre Optic Cable Project

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The Board of Directors of the African Development Bank Group (AfDB) has approved financing of USD 66 million to the Main One Cable Company for developing a submarine fibre optic cable connection along the West African coast. With this investment, the Bank has further expanded its wide support for African ICT projects following investments in the East African “EaSSy” submarine cable and the two satellites Rascom and New Dawn.
The Main One cable project which totals USD 240 million will involve the laying of 7,000 Kilometres of submarine fibre optic cable between Seixal (a suburb of Lisbon) in Portugal, Accra in Ghana, and Lagos in Nigeria, respectively. The system will be based on a trunk-and-branch topology and include branching units to the Canary Islands, Morocco, Senegal, and Côte d’Ivoire.
The 1.92 Terabits per second of available bandwidth will be leased wholesale to telecom operators and internet service providers on an open access basis, thereby encouraging competitive pricing and a large customer base. The project has already attracted broad interest and Main Street Technologies, the Nigerian based sponsor, is in the process of securing long term contracts with a number of the largest operators in Nigeria and Ghana.
This investment comes at an opportune time to unlock the constrained West African telecommunications market and catalyze the economic potential of the region. A compelling opportunity exists to lower the restrictive cost of international telecommunications and significantly expand internet access via submarine cable, which will lead to greater efficiency and more competitive business. Main One is an important step towards realizing this opportunity.
The considerable increase in available bandwidth from the Main One cable will provide telecom operators with the additional capacity they require to expand networks and mobilize a broader range of services. The system will contribute to an immediate 50 percent drop in the price of bandwidth in Nigeria and Ghana, and continued price reduction is anticipated over time:
Tim Turner, AfDB Private Sector director, said that the project’s main positive outcome is stem from its strong infrastructure development effects. “By dramatically lowering the cost of ICT services, annual cost savings to West African consumers will range from USD 30 million in the early years to USD 160 million within 10 years.”
The Main One project aligns closely with the Bank’s infrastructure orientation and private sector development strategy, as well as the ICT Strategy for 2008-2010 in particular.
Specifically, the project is congruent with the Bank’s Country Strategy Papers (CSP) for Nigeria and Ghana, both of which underscore private sector intervention in the infrastructure space. In addition, Main One ties in with the Bank’s role as a lead agency implementing the medium- to long-term strategic framework of the New Partnership for Africa’s Development (NEPAD).
According to Funke Opeke, chief executive officer of Main One Cable Company, “we are elated at the additional impetus which the 66 million USD facility from AfDB brings to the Main One cable project. This trench of financing again underscores the confidence which key stakeholders repose on the Main One project, and our commitment to conclude the first phase of this project in mid-2010 as promised.”
The Main One cable project has recorded considerable progress that signposts a clear commitment to on-time project completion. Last December it was the beneficiary of the first ever submarine cable landing licenses to be awarded by Nigeria and Ghana respectively. Last March, following the completion of the 27 Kilometre in-shore survey operation near Portugal, it commenced its main route survey operations.
Even while the survey work is ongoing, said Opeke, manufacturing of cable and sophisticated electronics within the submerged repeaters are also proceeding ahead of plan. The various suppliers on the Main One project, she said, are working steadily towards realizing the vital goal of on-time completion of a unique initiative that is expected to breathe a new life of vibrancy and reduced cost into the Broadband penetration regime in West Africa and subsequently, all over Africa.
The Main One cable project ranks among the major ongoing infrastructure projects in Africa. It is expected to radically boost internet access, crash tariffs and provide open access to regional telecom operators and internet service providers and expands skills transfer and job provision across the continent.

 


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Telecom Operators Invest Over $1Bn on 2,850 New Sites in 2025 – NCC

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Telecom operators in Nigeria invested more than $1 billion in 2025 to deploy over 2,850 new sites, boosting nationwide coverage and capacity, according to data from the Nigerian Communications Commission (NCC).

Telecom Operators Invest Over $1bn on 2,850 New Sites in 2025 – NCC

NCC

The investment details emerged in the just-released 2025 Network Performance Reports, announced by Dr. Aminu Maida, executive vice chairman (EVC), NCC.

Speaking at an engagement on the reports, Dr. Maida emphasised the regulator’s focus on transparent, data-driven oversight.

“Through our collaboration with Ookla, we are providing independent insights into real-world network performance and the lived experience of Nigerians across cities, rural communities, highways, and emerging 5G zones,” he said.

The Q4 2025 reports highlight steady gains in network quality, including improved median download speeds in urban and rural areas compared to Q3.

The video Quality of Experience gap between urban and rural zones has also narrowed, bolstered by a stronger 4G backbone.

Dr. Maida noted ongoing challenges, such as 5G service gaps and upload speed disparities. “We are actively engaging with operators to address these issues, including gaps in mobile service coverage,” he added.

Operators have committed to surpassing their 2025 investment levels in 2026, with infrastructure rollout set to intensify.

“We look forward to continued collaboration with industry stakeholders as we translate these insights into better connectivity, improved service quality, and a more inclusive digital future for all Nigerians,” the EVC concluded.


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Airtel Africa Records $586m Rise in Profit on FX Gains, Tariff Hike

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Airtel Africa’s profit after tax grew to $586 million in the nine months ended December 31, 2025, up from $248 million in the corresponding period of 2024.

According to the company’s nine-month financial results released on Friday, the higher profit after tax in the current period was driven by higher operating profit and derivative and foreign exchange gains of $99 million, as compared to $153 million in derivative and foreign exchange losses in the prior period.

It disclosed that the group’s revenues in reported currency increased by 28.3 percent to $4,667 million, with constant currency growth of 24.6 percent. Reported currency revenue growth at a premium to constant currency growth reflects currency appreciation in key markets. In Q3’26, constant currency revenue growth improved to 24.7 percent from 24.2 percent in the previous quarter (Q2’26).

“Constant currency revenue growth was supported by tariff adjustments driving a 50.6 percent growth in Nigeria and a strong performance in Francophone Africa, which saw revenues accelerate to 17.0 percent in the nine months.”

In Nigeria, revenue grew by 50.4 percent in constant currency, largely driven by continued strength in the demand for data services, further supported by the tariff adjustments. The constant currency revenue growth was driven by ARPU growth of 39.6 percent and customer base growth of 7.8 percent.

“In reported currency, revenue grew by 52.1 percent to $1,123 million, with Q3’26 revenue growth accelerating to 70.9 percent compared to constant currency growth of 52.9 percent.

“Significantly higher reported currency growth during the quarter compared to constant currency growth was due to the appreciation in Nigerian naira from a weighted average NGN/USD rate of 1,627 in Q3’25 to NGN/USD 1,456 in the current quarter,” it disclosed.

Insights from Airtel’s financials revealed that voice revenue in Nigeria grew by 35.8 percent in constant currency, driven by voice ARPU growth of 26.0 percent, reflecting the tariff adjustments earlier in the year.

Data revenue also grew by 65.4 percent in constant currency as a function of both data customer and data ARPU growth of 8.0 percent and 49.7 percent, respectively. Data usage per customer increased by 26.2 percent to 10.7 GB per month (from 8.4 GB in the prior period), with smartphone penetration increasing 4.6 percent to reach 54.1 percent. Smartphone data usage per customer reached 13.4 GB per month compared to 11.2 GB per month in the prior period.

Sunil Taldar, chief executive officer, said these results highlight the strength of our strategy, with strong operating and financial trends across the business.

He added that “During the quarter, we accelerated investment to enhance coverage and data capacity while also expanding our fibre network. Coupling this investment with innovative partnerships strengthens our customer proposition and positions us to capture the considerable growth opportunity across our markets.

Digitisation, technology innovation, and embedding AI in our processes will also optimise the customer experience with increased digital offerings and closer integration of GSM and Airtel Money services, allowing us to unlock the strong demand across our markets.

Smartphone adoption continues to increase with a penetration of 48.1 percent, and we are seeing solid progress in the development of our home broadband business, reflecting the need for reliable, high-speed connectivity across our markets.

“Our push to enhance financial inclusion across the continent continues to gain momentum with our Mobile Money customer base expanding to 52 million, surpassing the 50 million milestone.

Annualised total processed value of over $210 billion in Q3’26 underscores the depth of our merchants, agents, and partner ecosystem and remains a key player in driving improved access to financial services across Africa. We remain on track for the listing of Airtel Money in the first half of 2026.

“Disciplined execution on cost efficiency, alongside accelerating revenue growth, has enabled another sequential improvement in our quarterly EBITDA margin to 49.6 percent, underpinning constant currency EBITDA growth of 31 percent, and we remain focused on driving further incremental margin improvements.

“Our strategic priorities remain clear: to continue investing in best-in-class connectivity, accelerate financial inclusion through our mobile money platform, and deliver an exceptional customer experience. These results reinforce our confidence in the long-term potential of our markets and our ability to create value for all our stakeholders,” he added.


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Africa’s AI Guru Abodunrin Charts Path to Continent’s Digital Dominance

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David Adeoye Abodunrin, Africa’s foremost AI transformations coach and internationally recognised futurist, has declared that the continent’s immense potential can only be unlocked when purpose is aligned with strategic intelligence.

Africa's AI Guru Abodunrin Charts Path to Continent's Digital Dominance

David Adeoye Abodunrin

Speaking to ICT editors in Lagos, Abodunrin—renowned for nearly three decades of multidisciplinary expertise spanning artificial intelligence disruption, digital governance, behavioural intelligence, cybersecurity, and human capital transformation—said Africa must embrace AI as a transformational frontier rather than a mere tool.

“AI is not merely a tool, it is a transformational frontier that can unlock prosperity, resilience and leadership for Africans in the global digital era,” Abodunrin stated.

Abodunrin, widely sought after by C-suite executives, policymakers, founders and institutional boards, is recognised internationally as a foresight architect and strategic transformation coach. His mission, he explained, is to help individuals, governments and organisations engineer strategic advantage through anticipatory intelligence and ethically aligned innovation.

His work focuses on decoding emergent AI and intelligence systems that reshape markets, redefine competitive advantage, and enable sovereign digital ecosystems.

He is also a 14-time international bestselling author whose frameworks integrate behavioural psychology, foresight strategy and digital sovereignty to prepare leaders for future complexities. Through his organisations, including Cubed Integrated Consulting and Cyberfore Consulting, Abodunrin equips governments, boards, and enterprises with tools to build secure, future-ready institutions that thrive amid volatility.

He stressed that Africa’s transformation must be rooted in local contexts and values, not imported wholesale from global models.

“In Africa, transformation must not just follow global models, it must reflect our cultures, our challenges and our collective aspirations,” he emphasised. “This continent holds immense potential; we simply need to align purpose with strategic intelligence to unlock it.”

His coaching and advisory services emphasise strategic AI governance tailored for African economies, executive and leadership transformation for sustained institutional resilience, digital and cyber intelligence frameworks to protect sovereign infrastructure, and behavioural intelligence and insights for inclusive growth and innovation.

Despite his international recognition, Abodunrin insists that his philosophy centres on African solutions for African realities—developing local talent, embedding ethical AI adoption, and fostering foresight strategies that account for Africa’s unique socio-economic ecosystems.


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