Telecom
Darwish, Nigerian Billionaire Tycoon Raises $2.6Bn for Telecom Towers
IHS Towers, a Nigerian phone tower company founded by Issam Darwish, Lebanese-Nigerian businessman has raised $2 billion in equity and $600 million in debt in one of the largest equity fundraising exercises by an African company in recent times.
IHS, the continent’s largest tower company, will use the money to finance infrastructure spending and recently agreed acquisitions, according to a company statement on Monday.
It said the equity funding was from new and existing shareholders, but did not provide further details.
The loan facility is split into two parts: a seven-year tranche of $500 million denominated in U.S. dollars and an eight-year tranche of $100 million in Nigerian naira.
Ecobank, Standard Chartered, Standard Bank, Investec and the World Bank’s International Finance Corporation (IFC) participated in the loan, Darwish told Reuters.
“This is the largest equity raising by a private entity for the past 7-8 years in Africa — you’ve had mining, banks and now telecom infrastructure as a standalone sector is commanding this much interest from the international markets,” said Darwish.
“This sends the right signal, it’s saying the international investor community believes in Africa and they’re putting a substantial amount of money behind that.”
Building and maintaining mobile communications towers in Africa is typically more expensive than in other regions because of security costs and electricity shortages, while revenue per user is often lower.
That has prompted many mobile operators to sell or lease towers to specialist companies such as IHS, which can reduce building and maintenance costs by hosting multiple tenants — mobile operators and Internet providers — on the same towers.
In September, South Africa’s MTN agreed to sell 9,151 mobile towers in Nigeria to a new joint venture with IHS in a deal MTN said would cut its costs and boost its call and data capacity in Africa’s most populous country.
That was MTN’s fifth tie-up with IHS following deals in Ivory Coast, Cameroon, Rwanda and Zambia.
IHS in August agreed to buy and lease back 2,136 towers from Etisalat Nigeria, a unit of Abu Dhabi’s Etisalat.
Darwish said a “substantial part” of the money IHS has raised would go towards paying for its recent acquisitions, with the remainder spent on boosting its infrastructure in the five countries it operates in.
He said IHS would complete the two acquisitions soon, with one set to be concluded in a few weeks and the other shortly after that, although he declined to provide more details.
Darwish predicted demand for broadband would drive growth in Africa’s telecoms sector.
“The size of the middle class in Africa is now roughly one-third (of the population) -– 15-20 years ago it was 10 percent or less,” said Darwish.
“Broadband penetration is extremely low, less than 10 percent, so the potential is massive and you need towers to service that.”
He predicted Africa could need 200,000-300,000 mobile towers over the next 10 years to meet future broadband demand, including up to 40,000 in Nigeria alone.
IHS may raise further debt before the end of 2015.
“Things keep growing and evolving for us so we may come back to the market very soon,” added Darwish.
MENXTT TECH NG, a Lagos-based technology company, has launched an initiative to make quality Dell laptops more affordable for Nigerians through flexible payment plans and extended warranty support.
The company said the initiative was aimed at helping students, entrepreneurs, professionals and small businesses acquire reliable computing devices despite rising technology costs.
According to the company, customers can now purchase premium pre-owned Dell Latitude, Dell Precision and Dell Inspiron laptops at competitive prices, with selected models available under staggered payment arrangements.
The laptops, it said, are designed to meet the needs of users ranging from students and office workers to architects, engineers, software developers, graphic designers and video editors.
Speaking on the initiative, the Co-Founder of MENXTT TECH NG, Mr Anthony Emeka Nwosu, said access to quality technology should not be limited by financial constraints.
“A laptop is no longer a luxury; it is an essential tool for education, business and career development.
“Unfortunately, many people are forced to settle for unreliable devices because of the high cost of new laptops.
“At MENXTT TECH NG, we want to bridge that gap by providing durable Dell business laptops at affordable prices, backed by a full one-year warranty and flexible payment plans.
“We want every student, entrepreneur, freelancer and business owner to have access to technology that helps them succeed,” he said.
Nwosu explained that every laptop undergoes comprehensive testing before delivery and comes with a one-year warranty, an original charger, a complimentary laptop bag, Windows 11 operating system and Microsoft Office Suite pre-installed.
He added that the company, an authorised Bitdefender Antivirus reseller in Nigeria, also installs genuine Bitdefender security software on every system to protect customers against cyber threats.
According to him, customers requiring additional productivity tools can also have licensed Foxit PDF software installed on their devices.
Nwosu said the flexible payment option was introduced in response to prevailing economic realities, enabling customers to spread payments over an agreed period.
He noted that the arrangement would make it easier for students, startups and growing businesses to acquire quality computers without placing excessive pressure on their finances.
Beyond laptop sales, the company provides information technology consultancy, computer repairs, software licensing, cybersecurity solutions and digital transformation services to organisations across Nigeria.
He reaffirmed the company’s commitment to supporting Nigeria’s digital economy by making dependable computing devices and enterprise technology solutions more accessible to individuals and businesses.
According to him, the initiative reflects MENXTT TECH NG’s vision of combining affordability, quality products and professional after-sales support to help more Nigerians participate in the country’s expanding digital ecosystem. (NAN)
National Information Technology Development Agency (NITDA) has called for stronger collaboration among government, industry, academia and technology professionals to accelerate digital innovation and drive inclusive economic growth in Nigeria.
Dr. Aristotle Onumo, Director, Stakeholder Management and Partnerships, representing the Director General of NITDA, delivers a goodwill message at the 20th International Conference on Technology and Computing (RISE 2026) in Jos, reaffirming the Agency’s commitment to fostering digital innovation, strategic collaboration, and a technology-driven future for Nigeria.
The agency made the call at the 20th Nigeria Computer Society (NCS) International Conference 2026, held in Jos, Plateau State, where stakeholders examined strategies for leveraging emerging technologies to strengthen national development.
Speaking on behalf of the Director-General of NITDA, Mr Kashifu Inuwa, the agency’s Director of Stakeholders Management and Partnerships, Dr Aristotle Onumo, said Nigeria’s digital transformation would depend on sustained investment in innovation, digital skills, research and strategic partnerships.
According to him, collaboration across the public and private sectors is essential to translate emerging technologies into practical solutions capable of improving governance, creating jobs and enhancing the country’s global competitiveness.
Onumo said NITDA remained committed to implementing its Strategic Roadmap and Action Plan through initiatives that promote digital literacy, research and development, innovation ecosystems, cyber sovereignty and emerging technologies.
He added that the agency was expanding opportunities for innovators, entrepreneurs and startups through platforms designed to encourage collaboration, investment and technology-driven enterprise.
“We are transforming Digital Nigeria into the nation’s foremost innovation platform where policymakers, investors, startups, researchers and technology companies can collaborate to accelerate economic growth and digital transformation,” he said.
He urged innovators, startup founders and technology professionals to participate actively in the forthcoming Builders Summit by showcasing indigenous solutions capable of addressing Nigeria’s development challenges.
Declaring the conference open, the Governor of Plateau State, Mr Caleb Mutfwang, described digital technology as a critical driver of governance and economic development.
Mutfwang said his administration had adopted digital solutions to improve public service delivery, modernise government operations and enhance internally generated revenue.
He also identified technology as a key enabler for agricultural transformation, increased productivity and improved food security, urging participants to ensure that deliberations at the conference translate into practical outcomes for national development.
Earlier, the President of the Nigeria Computer Society (NCS), Prof. Muhammad Sirajo, said the conference was organised to strengthen collaboration among policymakers, researchers, regulators, technology professionals and industry leaders.
Sirajo said the conference, with the theme “Harnessing Digital Innovation and Emerging Technologies for Inclusive Growth and Economic Renaissance (RISE 2026),” focused on exploring how innovation could accelerate Nigeria’s socio-economic development.
He identified artificial intelligence, blockchain, cloud computing, cybersecurity and robotics as among the technologies shaping the future of economies across the world.
According to him, Nigeria’s youthful population and expanding digital ecosystem provide a strong foundation for building a globally competitive economy through sustained investment in digital infrastructure, innovation and skills development.
The conference attracted government officials, regulators, academics, development partners, technology professionals and private-sector stakeholders to deliberate on policies and innovations aimed at accelerating Nigeria’s digital transformation and inclusive economic renaissance.
Telecom
Hon. Minister Dr. Kingsley T. Udeh and ASUS To Unveil First of a Kind Flagship Store in West Africa
In a landmark moment for Nigeria’s technology retail sector, the Honourable Minister of Innovation, Science and Technology, Dr Kingsley Tochukwu Udeh SAN, will on Monday, August 3rd, commission a landmark ASUS Flagship Store in partnership with Nigeria’s leading e-commerce group Konga. The state-of-the-art facility is widely regarded as the first initiative of its kind in West Africa.
The commissioning will witness the visit of senior executives from the world-renowned technology brand to Nigeria, including EMEA General Manager, Mr. Aaron Tsai, alongside other. One of the purposes of their visit is to reinforce the strategic partnership with Konga and solidify the collaboration between both organisations, further demonstrating ASUS’ commitment to the Nigerian market.
The event is expected to also bring together key stakeholders from government, the technology industry, business community, and the media for what promises to be a defining moment in the evolution of technology retail in the region.
The development comes as Konga continues to accelerate its strategic partnerships with some of the world’s leading technology brands.
For years, Nigerian consumers have demanded more than just access to genuine technology products. They have increasingly sought immersive experiences, expert guidance, after-sales support, and greater confidence when making technology investments. The next chapter in this journey appears to address many of these expectations in a bold and innovative way.
The forthcoming announcement is expected to bring together global innovation in a manner that reflects the changing realities of today’s technology consumer. It also reinforces the growing confidence that leading international technology companies continue to place in Nigeria as one of Africa’s most strategic digital markets.
Industry analysts note that partnerships of this nature are becoming increasingly important as consumers place greater emphasis on authenticity, hands-on product experiences, technical support, and trusted purchase channels. Beyond selling devices, the future of technology retail lies in building complete customer experiences.
As anticipation builds for Monday, one thing is certain: the ASUS-Konga partnership promises to set new standards for tech retail in West Africa, elevating customer experience and reinforcing Nigeria’s digital transformation narrative.
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