Connect with us

Telecom

DPI, Verod Capital Partner to Back Management of Pan African Towers

Published

on

Kindly share this post

Pan African Towers (PAT), a leading digital infrastructure company based in Nigeria, has announced a strategic investment from Development Partners International (DPI), a premier investment firm focused on Africa, and Verod Capital (Verod), one of the continent’s leading investment management firms.

DPI and Verod are investing in PAT to fuel its continued growth and will work with management to build on the company’s recent achievements and reaffirm its position as Nigeria’s largest homegrown digital infrastructure provider.

Established in Nigeria in 2017 to capitalise on the growing demand for wireless communications across Africa, PAT has emerged as a prominent telecommunications and tower infrastructure provider in Nigeria, playing an indispensable role in the nationwide expansion of mobile communications.

Since founding, PAT has built a successful business model centred around establishing tailored, long-term contracts with blue-chip customers, including Nigeria’s leading mobile network operators (MNOs) and internet service providers (ISPs).

The success and strong performance of the company to date has further accelerated under the leadership of Chief Executive Azeez Amida, who has a strong track record of executing successful growth strategies in emerging market telecommunications.

Nigeria is an attractive market for digital infrastructure in Africa. Underpinned by its strong demographics, it is Africa’s leading telecommunications market by number of mobile subscribers (208m) and contributed c.13% of national GDP in 2021 compared to 8% in 2015.

As of December 2021, there were 41,120 towers in Nigeria mostly supporting third generation (3G) and fourth generation (4G) technology across the country.

However, according to Nigeria’s Ministry of Communications, the country needs between 70,000 to 80,000 towers to enable proper quality and coverage for 4G and 5G technology, creating a supply gap of more than 30,000 towers. This investment will enable PAT to capitalise on this opportunity and help close this gap, providing world-class digital infrastructure to support Africa’s economic development.

Azeez Amida, CEO of Pan African Towers, said: “As a proud Nigerian-founded and run business, Pan African Towers is on a mission to accelerate the Nigerian market and support the growth of the mobile telecommunications sector in the country. We also have a clear strategic vision to grow the business sustainably, including actively reducing the carbon footprint of our network to uphold best-in-class ESG practices.

“We are excited to partner with DPI and Verod and will leverage their sector experience and market expertise to help us achieve these goals. The evolution of Nigeria’s mobile and wireless industry presents significant opportunities for our business, and we look forward to being a part of this next chapter of growth.”

PAT’s experienced management team will work closely with DPI and Verod to accelerate its strategic plan, leveraging their expertise in areas such as market entry, operational efficiency, and talent management. With the support of both investors, PAT will deepen relationships with existing partners, expand its customer base, and grow its footprint of towers to reach new parts of the country where mobile and wireless penetration remains low.

PAT will also benefit from DPI’s experience in scaling towers companies, as the first institutional investor in Eaton Towers, another of Africa’s leading telecoms businesses it exited in 2019.

Adefolarin Ogunsanya, Partner at DPI, said: “Pan African Towers is an exciting homegrown business with significant potential and is uniquely positioned to benefit from the opportunity presented by Nigeria’s digital innovation boom.

“We are incredibly excited to partner with PAT’s management team to help crystallize the Company’s vision of becoming Nigeria’s digital infrastructure provider of choice and look forward to sharing our deep knowledge and experience of Africa’s towers industry and the Nigerian market to help achieve this.”

Daniel Adeoye, Principal and Head of Investments at Verod Capital, said: “The Nigerian demographic is currently experiencing a surge in data consumption and related services, driven by a generation of tech-savvy digital natives that are unparalleled.

“The ‘Verod Consumer Spend Index’ indicates that telecommunication expenses are increasing significantly, providing a tailwind for tower companies like PAT. Verod is delighted to support PAT’s management with ample capital and value-creation expertise to navigate this period of growth.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers

Published

on

Kindly share this post

Bosun Tijani, minister of Communications, Innovation and Digital Economy, yesterday claimed that bandits and terrorists are able to communicate and coordinate their activities with ease because they exploit gaps in the country’s telecommunications network.

Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers

Bosun Tijani, minister of Communications, Innovation and Digital Economy,

Tijani, who spoke  Politics Today, a Channels Television’s programme, on Friday, Tijani said the criminals exploit gaps in the country’s telecommunications network.

He also claimed the bandits use advanced technology to bounce calls across multiple towers in areas with poor connectivity.

“They weren’t using the normal towers; they bounced calls off multiple towers, which is why they favor areas that are largely unconnected,” he said.

When asked about reports that unregistered or fraudulently registered SIM cards are still in use despite the Bank Verification Number (BVN) and the National Identification Number (NIN)–Subscriber Identity Module linkage policies, Tijani said the issue is technically complex and the reports are not fully verified.

“Whether it’s fact or not, I do not know where you’re getting that from, and I do not know who has evidence that there are people with unregistered SIMs,” he added.

The minister stated that the federal government is investing in telecom towers in underserved regions, upgrading the country’s communication satellites to improve coverage, and expanding fiber-optic networks to strengthen the country’s digital infrastructure.

“If our towers are not working, our satellites will work. Nigeria is the only country in West Africa with communication satellites, and we are bringing new satellites to upgrade their capabilities,” Tijani said.

He added that these initiatives aim to ensure better connectivity for Nigerians while closing loopholes that criminals exploit, thereby enhancing national security.

The minister’s comments come amid rising concerns over insecurity in several parts of the North, where banditry, kidnapping, and terrorism have escalated in recent years.

There are also reports of bandits flaunting ransom payments on social media platforms such as TikTok, raising alarm among authorities and the public


Kindly share this post
Continue Reading

Telecom

CBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution

Published

on

Kindly share this post

Central Bank of Nigeria (CBN) on Thursday announced plans to partner with the Nigerian Communications Commission (NCC) to develop an industry-wide short code for consumers to lodge complaints with financial institutions anytime, anywhere, even without internet access.

CBN, NCC to Launch Short Code for Swift Consumer Complaint Resolution

CBN

Dr Aisha Isa-Olatinwo, CBN Director, Consumer Protection and Financial Inclusion Department, disclosed this at a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organised by Enhancing Financial Inclusion and Advancement (EFInA).

She said the initiative addresses challenges faced by vulnerable consumers using feature phones who often have to visit bank branches physically to report issues amid the convergence of telecom and banking services.

Isa-Olatinwo said the CBN had achieved 94 per cent month-on-month timely resolution of consumer complaints, adding that the apex bank had streamlined processes and partnered with banks to balance consumer protection with financial system stability.

An EFInA poll presented at the event revealed that 61 per cent of respondents experienced failed transactions in the past 12 months, while 26 per cent had reversals within 24 hours and 54 per cent between 24 and 48 hours.

Other complaints included six per cent for fraud, 14 per cent for hidden charges and 15 per cent for poor customer service, with 66 per cent of respondents aware of complaint escalation steps.

President of Consumer Advocacy Foundation of Nigeria (CAFON), Mrs Sola Salako-Ajulo, lamented that consumers often feel unprotected and urged introduction of fraud insurance for instant reversals, shifting the burden of proof from customers.

She said: “What is missing in our system—unlike more developed economies—is fraud insurance, where banks reverse reported fraud immediately, refund consumers, and investigate later.”

Mr Ajibade Laolu-Adewale, Chairman of Committee of e-Business Industry Heads (CeBIH), represented by Mr Adeyemi Salisu, stressed that banks must resolve disputes between acquiring and issuing banks without redirecting customers to merchants.

The short code initiative is expected to enhance financial inclusion by providing accessible redress mechanisms in Nigeria’s evolving digital payment ecosystem.


Kindly share this post
Continue Reading

Telecom

Google.org Backs CyberSafe’s Resilio Africa to Shield 2m People from Cyber Threats

Published

on

Kindly share this post

CyberSafe Foundation, with funding support from Google.org will launch Resilio Africa, a 3-year cybersecurity resilience project that aims at reducing the growing risks of cyberattack in institutions and communities across Sub-Saharan Africa.

Google.org Backs CyberSafe’s Resilio Africa to Shield 2m People from Cyber Threats

CyberSafe

The project will strengthen the cyber resilience of 200 Critical Community Institutions (CCIs) in the region through provision of free technical tools, assessments, threat intelligence and incident response frameworks. With this intervention, Resilio Africa aims to protect over 2 million people and secure more than 15 million public records in Nigeria, Kenya, Ghana, and South Africa, marking one of the most ambitious community-building efforts in Africa’s cybersecurity ecosystem.

“At Google.org, we believe that access to secure digital systems is a cornerstone of inclusive growth,” said Haviva Kohl, Senior Program Manager, Google.org. “Our support for CyberSafe Foundation’s CCI cybersecurity efforts reflect our shared commitment to empowering communities and protecting the institutions that serve them. Resilio Africa will help ensure that essential community organizations can operate safely and confidently in an increasingly digital world.”

Identifying the challenges across sub-Saharan Africa, a brief by CyberSafe Foundation noted that critical community infrastructure in the region is increasingly targeted by cyberattacks, with inadequate resources available to tackle them. “These institutions collect, process, and store vast amounts of sensitive personal

data, yet most lack the corresponding cybersecurity maturity. Many operate on outdated systems, with limited cybersecurity capacity, low awareness of digital threats, and zero security budgets. According to INTERPOL, Africa experienced a 23% increase in ransomware attacks in 2023, with public and nonprofit institutions among the most impacted.”

Further citing data from the International Telecommunication Union (ITU)’s Global Cybersecurity Index, the statement said that more than 60% of African countries fall into the “low commitment” category regarding national cybersecurity readiness. This contributes to limited institutional cybersecurity capacity, low awareness of digital threats, and little to no dedicated security budgets.

“As services become more digitized, this creates a dangerous gap that cybercriminals are actively exploiting through ransomware, phishing, data breaches, and DDoS disruptions, compromising public services, exposing sensitive data, and eroding public trust,” it said.

“In Kenya alone, over 114 CCI-targeted cyberattacks were recorded in the first eight months of 2024, followed by a 201% increase in cyber incidents by Q1 2025. In Nigeria, key government and healthcare systems still operate over unencrypted communication protocols. Institutions in Ghana and South Africa face similar threats but often lack the capacity to respond effectively. This widespread vulnerability exposes millions of citizens to both digital and physical harm.

Despite emerging national strategies, policy formulations and growing political will in the region, most CCIs are under-resourced and under-protected. Without immediate, scalable, and context-specific interventions, the region risks a surge in cyber incidents that could significantly disrupt essential community services.

Resilio Africa will strengthen cyber resilience of 200 CCIs through technical tools, assessments, customized playbooks and incident response frameworks; provide over 10,000 hours of pro bono cyber consulting to support CCI teams, build human capacity by delivering tiered training for executives, IT teams, and general staff with over 4500 employees and decision-makers trained; protect over two million people; and secure more than 15 million public records in Nigeria, Kenya, Ghana, and South Africa.

“Africa’s digital transformation cannot succeed if our communities remain vulnerable,” said Confidence Staveley, Founder and Executive Director of CyberSafe Foundation.

“With Google.org’s support, we are scaling a proven model of capacity-building that will help critical institutions become resilient, safeguard the people they serve, and preserve trust in digital public systems.”

Application to the initiative is open and CCIs eligible to participate are to complete an online interest form guided by instructions on the website, www.resilio.cybersafefoundation.org.


Kindly share this post
Continue Reading

Trending