Telecom
Ekeh, Zinox Boss Urges FG to Make Oct 1, 2020 Nigeria’s Tech Independence Day
Leo Stan Ekeh, chairman, Zinox Group, has called on the Federal Government to declare October 1st 2020 Nigeria’s technology independence day.
He made this call in a recent virtual chat with technology correspondents.
The serial digital entrepreneur, who has remained one of the foremost personalities in Nigeria’s technology ecosystem, based his recommendation on the giant strides recorded by the country in the area of Information and Communication Technology (ICT).
‘‘October 1st 2020 is traditionally Nigeria’s Independence Day. It is a day that commemorates Nigeria’s emergence as a sovereign state.
“Considering the massive strides recorded so far in our journey to technological emancipation, the Federal Government should strongly consider declaring October 1st Nigeria’s technology independence day
‘‘I have often said it that no country achieves true independence without a level of technological independence.
“The time has come for Nigeria to boldly emerge as a technology force on the continent and globally; to make the right investments and critical positioning necessary for securing our collective future in the 21st Century,’’ he declared.
Ekeh, who hailed the current administration for the greater focus on technology and knowledge development, referenced the renaming of the Ministry of Communications and its subsequent enhancement as a credible institution for anchoring Nigeria’s renewed approach to the emerging knowledge economy now brought to the front burner by COVID-19.
‘‘I commend the Federal Government for enhancing the Ministry of Communications which, by its current status as the Ministry of Communications and Digital Economy and the appointment of a thorough-bred professional in Dr. Isa Pantami to oversee its affairs, is now eminently equipped to deliver on Nigeria’s march to digital emancipation.
‘‘It has indeed been a journey of immense leaps and bounds, right from the time of Dr. Omobola Johnson through the era of Abdur-Raheem Adebayo Shittu and now to the current achievements being recorded under Dr. Pantami.
‘‘Nevertheless, there is a lot more to be done, especially in leapfrogging our prevailing developmental challenges by leveraging the power of technology, as is the case in advanced climes, to unleash the abundant skilled and modern human capital that Nigeria is potentially known for, create quality jobs and unlock a certified future for the huge population of energetic youths; while reducing sophisticated crimes – we have now seen a lot of women also indulging in to survive.’’
The Zinox boss reiterated Nigeria’s pre-eminence as a key driver of technology in Sub-Saharan Africa and beyond, even as he urged the government to act now.
‘‘Today, a lot of our kids are out of school as a result of the COVID-19 pandemic – a development that should not be the case, especially considering our capacity as a technology-compliant nation in finding a solution to bridge the gap.
‘‘At this level of our development, Nigeria should be regarded as a global digital giant. We have the means, the talent, the human capital and the innate intelligence to make it happen.
“With the government taking the step of making critical investments in technology, it is only a matter of time before Nigeria starts raising tech billionaires that would rival the likes of Jeff Bezos and Jack Ma,’’ he concluded.
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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