Telecom
COVID-19: Softcom Launches Transparent Crowdfunding Platform for Effective Distribution of Palliatives to Poor Households
Softcom, a company dedicated to connecting people and business through meaningful innovation, in partnership with Deloitte, MTN, Ernst &Young, Banwo&Ighodalo, GTBank, Future Africa, Providus Bank, John Ashley Foundation, Wildreams, Lagos State Government and other corporate organizations have launched a new initiative – HelpNow, to support Lagos residents in need due to the impact of the COVID-19 pandemic via a platform set up to pair donors with beneficiaries who require support.
HelpNow, an initiative of Softcom, is a private sector led collaboration in response to the debilitating effects the COVID-19 pandemic has had on the income and livelihood of millions of Nigerians.
The objective is to provide support to at least 2 million vulnerable people in Lagos through a crowdfunding model that rallies the support of well-meaning individuals and corporates.
Speaking at the launch, Mr. BabajideSanwo-Olu, Governor of Lagos State noted that ‘the role of technology in addressing the socio-economic challenges of the modern world is not only important, but also incontrovertible.
L-R: Seinde Olobayo, Chief Operations Officer, Softcom, Babajide Sanwo-Olu, Lagos State Governor and Yomi Adedeji, CEO Softcom at the HelpNow launch in Lagos on Thursday, June 18 2020
“This consciousness is the reason why technology is a critical component of the THEMES Agenda of our government”.
“We are determined to leverage technology and its associated innovations to make governance easier and transform our State.
“However, like the experience in other megacities in the world, COVID-19 outbreak has shown the fragility of our societies and the need to seek innovative ways for addressing some of our immediate challenges has become more important”.
“With the launch of HelpNow today, we now have a platform that aggregates support for government’s efforts at alleviating the sufferings of the poor and vulnerable in our society.
“Government alone cannot address the socio-economic problems of any society. It needs the support of well-meaning individuals and corporate organizations to cater for the needy amongst us”.
“Before now, there was no platform such as HelpNow that allows effortless intervention in the lives of millions from anywhere and anonymously. For creating a platform that encourages collaboration and speedily mobilizes succour for the needy and vulnerable, I commend Softcom Limited and its partners.
“The people of Lagos State appreciate your ingenuity and thoughtfulness”, concluded the Governor.
Yomi Adedeji, ceo, Softcom Limited and convener, HelpNow initiative, said “We believe that while the pandemic affects everyone, the impact is not the same across the board.
“With limitations to economic activities, a good number of Lagosians are vulnerable and have a tough time taking care of themselves and their families. They need our help now to get back on their feet.
“Softcom is working with the Bank of Industry, Telco’s, and LASG to organize the records of vulnerable Nigerians covering people with disabilities, the poorest households and the aged, for this purpose.
“These records reduce guesses or duplication of efforts. It ensures that more people are reached, and no individual or family benefits more than once.”
Also, to ensure the credibility and transparency of the initiative, Deloitte and Ernst &Young will provide audit, governance and operational risk support, ensuring every Naira donated gets to a beneficiary as promised.
Adedeji encouraged corporates and private individuals in Nigeria and worldwide to support the initiative by visiting theHelpnow.ng website to donate, saying no amount is too small to help those in need.
He said donors will be able to view the impact of their giving on the website coupled with testimonials of the beneficiaries.
He noted that HelpNow partners are committed to achieving the SDG Agenda 2030 on ending poverty, ensuring zero hunger, and ultimately improving the quality of life and wellbeing of all.
Clean and reliable power for telecom networks in Ethiopia, Liberia, and Sierra Leone will be expanded following a $45 million investment by the International Finance Corporation (IFC) in IPT PowerTech.
The investment targets countries where limited power supply continues to slow digital connectivity and broader economic participation, the institution stated earlier this week.
To enable this expansion, the IFC is providing a $45 million corporate financing package consisting of an A-loan of $27 million and $18 million in blended finance.
The blended portion is sourced from the Canada-IFC Blended Climate Finance Programme and the IDA20 Private Sector Window Blended Finance Facility.
The initiative marks the IFC’s first direct infrastructure engagement in Liberia in a decade and in Sierra Leone in six years.
It will help scale solar- and battery-based power systems that reduce reliance on diesel and support greener, more resilient telecom networks.
By improving the quality and stability of power to telecom towers, the initiative will strengthen mobile coverage and ensure that households, schools, health centres, and small businesses can depend on consistent digital services, said the IFC.
The funding supports the modernisation, operation, and maintenance of 2 235 telecom sites across the three nations. More than 90% of these are located in off-grid or weak-grid locations.
With new solar and battery systems powering these sites, mobile networks will experience fewer outages and improved service quality.
Optimising the energy mix is estimated to reduce power costs for operators by up to 30% in Liberia, 26% in Sierra Leone, and 52% in Ethiopia.
This transition is also expected to cut emissions by more than 10 624 tonnes of carbon dioxide annually. Furthermore, the partnership will promote gender inclusion by expanding opportunities for women in technical, operational, and leadership roles within the sector, says the IFC.
This agreement reflects a shared vision for a greener telecom industry and empowers the company to scale its innovative energy platforms, according to Nabil Haddad, CEO of IPT PowerTech Group.
Reliable and affordable power for telecom networks is a cornerstone of Africa’s digital transformation, said Nathalie Kouassi-Akon, IFC regional director for West Africa and the Gulf of Guinea.
Through this partnership, the institution is supporting a scalable, private sector-led solution that enables mobile operators to reach underserved and fragile communities more sustainably, added Kouassi-Akon.
The project advances the World Bank Group and African Development Bank’s Mission 300 initiative, which aims to provide electricity to 300 million Africans by 2030.
Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.
Kingsley Madu
The tool centralizes payments, invoicing, payroll, and treasury into one secure dashboard, tackling challenges like fragmented systems and poor visibility that hinder international scaling.
Kingsley Madu, Co-Founder and CEO of Expedier, said: “African businesses are increasingly global… Expedier for Business was built to simplify how companies manage money across borders while maintaining visibility, control, and compliance.”
Key features include customizable dashboards for payments, invoices, and workflows; support for USD, CAD, GBP, EUR, and more; virtual cards; automated payroll/invoicing; currency swaps; and real-time tracking.
Security measures cover two-factor authentication, KYC/KYB verification, and team access controls.
As cross-border trade and remote work boom in Africa, the platform aids firms dealing with international suppliers, teams, and customers. It is now available for organizations scaling globally.
Nigerian fintech unicorn Moniepoint Inc. has finalised its acquisition of a 78% stake in Kenya’s Sumac Microfinance Bank, gaining a key deposit-taking licence for credit expansion in East Africa’s biggest economy.
The deal, marked by a Nairobi reception, bypasses the Central Bank of Kenya’s licence freeze, letting Moniepoint rival giants like Safaricom and Equity Group after a stalled Kopo Kopo bid.
It signals Africa’s fintech shift to licensed banking and mergers, equipping Moniepoint to roll out high-speed SME lending via Sumac’s 20-year-old infrastructure and branches.
The acquisition builds a cross-border merchant ecosystem beyond fees, integrating recent Orda buyout (cloud restaurant software) for “business-in-a-box” tools like inventory, payroll, and capital amid Kenya’s digital lending scrutiny.
Moniepoint, which hit $294 billion annualised transactions in 2025, eyes Kenya’s SMEs with Nigeria-honed retail expertise.
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