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d.light, Chapel Hill Denham Close N10Bn in Securitized Financing to Fund Off-grid Solar Expansion in Nigeria

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d.light, the global provider of transformational household products and affordable finance for low-income households, and Chapel Hill Denham, the largest alternatives asset manager in Nigeria, today announced the closing of a landmark N10 billion (approx. USD$7.4 million) securitised financing facility.

The new financing will be provided by Chapel Hill Denham’s Nigeria Infrastructure Debt Fund and will be used to scale up d.light’s low-cost Pay-Go offering of affordable, solar-powered products targeted at low-income households.

The structure of the financing was set up and is sponsored by African Frontier Capital, who also acts as the master servicer and backup servicer in the transaction.

Commenting on the news, d.light CEO Nick Imudia said, “This landmark financing opens up access to our range of solar-powered household goods to more low-income families and households in Nigeria, in a way that is affordable for them and sustainable for our business.

“d.light has a track record of success in using securitized finance in other Sub-Saharan African countries as a flexible, scalable financing model for raising equity for off-grid solar that is guaranteed against current and future customer sales.

“We are now applying this experience in Nigeria as we scale up our operations there. In Chapel Hill Denham, we have a partner that is not only commercially astute but also equally dedicated to sustainable development.”

Bolaji Balogun, Chief Executive Officer of Chapel Hill Denham, also commented on the transaction, “This transaction signifies a pivotal stride in sustainable infrastructure investment in Nigeria, setting a transformative precedent for the renewable energy sector.

By pioneering local currency securitization for the financing of solar home systems and essential solar-powered household utilities in Nigeria, Chapel Hill Denham is catalyzing innovation in the renewable energy sector, advancing sustainable development, empowering communities, and reshaping Nigeria’s infrastructure landscape for a brighter, more sustainable future for all.”

“This is another significant milestone for Chapel Hill Denham and NIDF, with the first-ever at scale, local currency securitization financing for Solar Home Systems and other solar-powered household goods in Nigeria,” added Anshul Rai, Partner: Infrastructure & Climate at Chapel Hill Denham.

“We continue to broaden the range of financing solutions available to infrastructure providers in Nigeria, with particular emphasis on solving the greatest sustainable development challenges facing Nigeria.”

Last year’s Energy Progress Report, compiled by the International Renewable Energy Agency, the International Energy Agency, the UN and the World Bank, identified Nigeria as the country with the largest number of people (circa. 86 million) without access to electricity. Even those connected to the grid rarely receive a reliable supply.

In addition, nearly 80 percent of Nigeria’s electricity is currently provided by GHG-emitting thermal generation sources, necessitating a rapid transition to clean and reliable energy sources. d.light and Chapel Hill Denham are committed to supporting this energy transition through innovative products and financing solutions.


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Glo Celebrates IDGC, Educates Girls on Menstrual, Mental Health

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This year’s observance of the International Day of the Girl Child began on Wednesday with Glo Foundation, the social responsibility arm of telecommunications company, Globacom, charging secondary school girls across the country to pay attention to their menstrual and mental health.

The Foundation reasoned that this has become imperative if the girls would grow into adulthood with confidence while embracing the future without inhibitions. It made this its focal point of engagement with girls in select schools. This year’s observance, with the theme: “The GIRL I am, the changes I lead: GIRLS on the frontline of crisis”, was an opportunity for the Foundation to reach out to students with information to promote the well-being of the girls.

The health awareness campaign in conjunction with the Health Aid for All Initiative (HAFAI), an NGO, sought to educate 100 girls from each of the selected schools in Lagos, Abuja, Port Harcourt, Benin, Owerri and Kaduna.

The schools included Community Secondary School, Port Harcourt; Methodist Government Junior High School, Agege, Lagos; LGEA Upper Basic School Kudansa, Maraban Rido, Kaduna; Oba Ewuare Grammar School, Oko Central, Benin City; Orogwe Secondary School, Owerri; and Junior Secondary School Dutse Sagwari, Abuja.

According to the Foundation, “Menstrual periods should never be a reason for a girl to lose confidence, miss school, or feel held back. That’s why we put this initiative together where we also provided menstrual care kits to the young girls in these selected states, to ensure that they have not just what they need, but also the reassurance that their growth and dignity matter”.

Dr Ugorchi Ohajuruka, a medical doctor and public health specialist and Mrs Lara Rowland took the students of Methodist Government Junior High School, Agege, Lagos through basic tips on menstrual health management and hygiene, gender based violence, mental health and allied issues of importance. They also encouraged the girls to ask pertinent questions relevant to the topic as well as their overall health and well-being.

The Principal of the school, Mr Olawale Adebakin, reiterated the importance of placing premium on the health and well-being of the girl child.  “There is a need to take care of the girl child. We need to protect them so they will be useful for the development of the country,” he added.

The sessions witnessed similar experiences in the other locations selected by Glo Foundation for the observance in Abuja, Kaduna, Benin, Owerri, and Port Harcourt.


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Union Bank Deepens Media Bonds at Exclusive Mixer

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Union Bank of Nigeria recently hosted an informal and engaging meet-and-greet session with leading media professionals at The Stallion Plaza, its headquarters in Marina, Lagos.

The event, held at SpaceNXT, the Bank’s purpose-designed co-creation hub for innovators and creators, was conceived as a relaxed platform to foster personal connections and deepen mutual understanding between the Bank and media partners.

Rather than a formal media briefing, the gathering offered a convivial atmosphere for open conversation, reinforcing Union Bank’s recognition of the media’s essential role in shaping public discourse and amplifying the Bank’s mission.

In attendance were senior members of Union Bank’s leadership team, including Taiwo Shote, Executive Director, Corporate Banking, Lagos and West, Olufunmilola Aluko, Chief Brand and Marketing Officer, and Tosin Ibikunle, Head of Strategy and Planning. Olufunmilola and Tosin reaffirmed the Bank’s commitment to transparent and collaborative engagement with the press, while underscoring Union Bank’s strong operational footing and readiness to meet all regulatory obligations.

Speaking at the event, Mrs Olufunmilola Aluko, Chief Brand and Marketing Officer, said: “This event is simply about people. Union Bank has been around for 108 years, and we’ve seen it all – from telegram banking to digital wallets; from handwritten ledgers to AI-driven analytics. But through all that change, one constant has remained: the media.

We wanted to create a space that is unhurried and human, where we can meet without the weight of deadlines or the formality of press statements, because behind those exchanges are real people who share a deep commitment to storytelling, to truth, and to impact. So today, we wanted this session to simply be about reconnecting; banker to journalist, human to human.”

Echoing this spirit of partnership as the Bank looks ahead, Mr Tosin Ibikunle, Head of Strategy and Planning, added: “Union Bank has diligently enhanced its systems and service experience in preparation for the next phase of growth. As we roll out new initiatives, we look forward to partnering with the media to tell our story with clarity, accuracy, and impact.”

The event also featured a tour of Stallion Plaza and a networking session, reflecting the Bank’s intention to create a warm, human connection beyond the usual formalities of corporate communication.

Union Bank remains steadfast in its commitment to building trust through open dialogue and meaningful partnerships with the media and all stakeholders, as it continues to serve customers and contribute positively to Nigeria’s economic landscape.


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NITDA DG Calls for Collaboration, Innovation to Build AI-Ready Africa

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Mr. Kashifu Inuwa Abdullahi, director general of the National Information Technology Development Agency (NITDA), has called for stronger collaboration, practical innovation, and inclusive policymaking to position Africa as a globally competitive, AI-ready continent.

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He made the call while speaking at the Hyperscalers Convergence Africa 2025 in Lagos, themed “Fostering a Digital Africa: Connectivities, Convergence and Innovation.”

During a panel session titled “From Mobile First to AI-Ready: Will Africa Deliver on Innovation?” Inuwa emphasized that Africa’s youthful population is its greatest asset, but must be equipped with the right digital skills to avoid becoming a demographic burden.

“We have a generation that is energetic, curious, and ready to embrace any digital technology available to them. This is a major asset — but only if we equip them with the right skills,” he said.

He highlighted the Federal Government’s 3 Million Technical Talent (3MTT) programme as a key initiative to build digital capacity and transform Africa’s human capital into a digital dividend.

On infrastructure, Inuwa cited the newly approved PPP Policy on Mediation and the Project Bridge initiative as mechanisms to mobilize public and private resources for digital infrastructure development.

He also disclosed that the government is building a robust Digital Public Infrastructure (DPI) framework to integrate identity, payments, and data systems—critical foundations for AI-powered services.

Inuwa stressed the importance of leveraging local data and nurturing domestic talent to build AI systems that reflect African realities, warning against overreliance on foreign models that may not align with the continent’s context.

“During the industrial revolutions, Africa supplied raw materials but gained little technological benefit. As we enter this new era, we must ensure unity, build capacity, and collaborate to lead, not follow,” he said.

In another session titled “Shaping Africa’s Digital Future: Policy and Regulatory Frameworks for Accelerated Growth,” Inuwa advocated for a “dream big, but build small” approach, urging scalable innovations that address local needs while aligning with continental and global visions.

He called for a reinvention of Africa’s social contract through inclusive, data-driven policymaking, emphasizing that effective policies must be co-created with industry stakeholders and grounded in real-world insights.

“At NITDA, we are working to change the narrative through our Intelligent Regulatory Framework. It ensures policymaking is inclusive, evidence-based, and adaptable,” he said.

He cited the development of Nigeria’s National Artificial Intelligence Strategy as a model for collaborative policy design, involving experts from civil society, academia, and the private sector.

 


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