Telecom
Equinix Acquires MainOne for $320m
Equinix Inc., the world’s digital infrastructure company™, today announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d’Ivoire.
The acquisition is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
The transaction has an enterprise value of US $320M and is expected to be AFFO accretive upon close, excluding integration costs, marking the first step in Equinix’s long-term strategy to become a leading African carrier neutral digital infrastructure company.
With more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established data center hub. This makes the acquisition a pivotal entry point for Equinix into the continent.
Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Africa. Founded by Funke Opeke in 2010, the company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centers, with an additional facility under construction expected to open in Q1 2022.
Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix®, with 570,000 square feet of land for future expansions. MainOne owns and operates a subsea network from Nigeria to Portugal, as well as 1,200 kilometers of reliable terrestrial fiber network across southern Nigeria.
These are all improving connectivity to and from Europe, West African countries and the major business communities in Nigeria. When completed, this acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to one of the world’s fastest growing markets.
Charles Meyers, President and CEO, Equinix: “The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market. MainOne’s leading interconnection position and experienced management team represent critical assets in our aspirations to be the leading neutral provider of digital infrastructure in Africa.
“Growth of data consumption in Africa is amongst the fastest in the world, and our customers are looking for a trusted partner to pursue the opportunities presented by broad mobile adoption and greater connectivity across the region.
“MainOne’s infrastructure, customer relationships, partner ecosystem and operating capability will extend the reach of Platform Equinix and bolster opportunities for customers in Africa and throughout the world.”
Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles. Opeke holds a master’s in engineering from Columbia University and was named one of the World’s Top 50 Women in Tech by Forbes in 2018 for her efforts in sparking internet adoption. She was also recently named one of the Top 10 Women to Watch in the Data Center Industry by Data Centre Magazine.
Key Facts
– Under the terms of the agreement, Equinix intends to acquire MainOne and its assets with an all-cash transaction at an enterprise value of US$320M, which is expected to be AFFO accretive upon close, excluding integration costs. The transaction is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
MainOne’s assets include:
– Three operational data centers, with an additional facility under construction expected to open in Q1 2022. These facilities will add more than 64,000 gross square feet space to Platform Equinix, in addition to 570,000 square feet of land for future expansions.
– An extensive submarine network extending 7,000 kilometers from Portugal to Lagos, Accra and along the west African coast, with landing stations in Nigeria, Ghana and Côte d’Ivoire.
– A terrestrial network of more than 1,200 kilometers of reliable terrestrial fiber in Lagos, Edo and Ogun States. Connectivity to terrestrial sites extends across 65 PoPs (points of presence) in cities across Portugal, Nigeria, Ghana and Cote d’Ivoire.
– Access to key internet exchanges enabling low latency to key global networks, including Amazon, Microsoft, Apple, Google and Facebook.
– An estimated 800+ business-to-business customers, including major international technology enterprises, social media companies, global telecommunications operators, financial service companies and cloud service providers.
– Nearly 500 employees and a management team with a deep understanding of local and international markets.
– The facilities generate approximately US$60M annualized (Q2’21LQA) revenue with a purchase multiple of approximately 14x EBITDA.
– Globally, Platform Equinix is comprised of 237 data centers across 65 metros and 27 countries, providing data center and interconnection services for over 10,000 of the world’s leading businesses, including more than 50% of Fortune 500 companies.
John Dinsdale, Chief Analyst & Research Director, Synergy Research Group: “Africa has been the missing piece in the Equinix jigsaw, and this acquisition of MainOne will be a great first step onto the continent. The demand for data center services in Africa is strong, with Nigeria at the epicenter of exponential economic growth in West Africa.
“Nigeria is Africa’s largest country by both population and economy, and its growth drivers include rapid mobile adoption, increased data consumption from its young population, good subsea and terrestrial connectivity, and a strong enterprise market.
“This is advancing the region toward a more digitalized economy and driving data center growth and expansion to provide much-needed digital infrastructure.”
Funke Opeke, Founder and CEO, MainOne: “Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the Digital Divide in Africa.
“With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.”
Eugene Bergen, President, EMEA, Equinix: “Expansion in Africa has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary data center and connectivity assets, but can further accelerate the expansion of our business model and growth objectives.
“CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers access to the continent and African organizations access to the global Equinix platform. Customers can take full advantage of Equinix’s leading global interconnection services to connect with customers and partners, participate in rich digital ecosystems and expand their business across Africa and around the world.”
Globacom is rolling out extensive network improvements to deliver a significantly better experience for its customers. These proactive measures are designed to ensure subscribers continue to get excellent value, particularly following recent tariff adjustments.
The ongoing upgrade involves a widespread deployment of new base stations, expanding coverage to previously underserved areas, and strengthening existing coverage in growing population centres. This strategic densification will guarantee superior network quality for both voice and data services across the entire country.
In a significant investment, Globacom is also re-routing its fibre infrastructure in several locations where road construction has compromised the fibre, including vital routes like Auchi-Okene and Benin-Ekpoma, Lafia-Akwanga, Minna-Abuja, and Funtua-Gusau.
“We decided, at a huge cost, to relocate the fibres, many of which had been vandalized in several places by uncoordinated road construction activities, in order to bring best-in-class services to customers”, the company disclosed.
Customers can look forward to brighter days ahead as Glo completes the deployment of hundreds of new sites nationwide. This year alone, thousands of 4G LTE sites have been activated in key cities, with additional hundreds of new sites are currently being deployed to further boost connectivity. These efforts are supported by massive upgrades of backhaul capacity (microwave and fibre) and a seamless improvement in the core network.
Globacom assured its subscribers that these ongoing initiatives will translate to enhanced service delivery, expanded coverage, faster data speeds, and overall improved network performance. The company plans to add over a thousand new sites in the next year, prioritizing LTE expansion to deepen its reliable data reach and extending fibre to more hub sites for greater service robustness.
Furthermore, Glo is committed to minimizing its carbon footprint by expanding hybrid power solutions and relying more on battery power across its sites, representing another substantial investment.
Despite these positive developments, Globacom continues to highlight the challenge of deliberate sabotage of network equipment, even with its designation as critical national infrastructure, emphasizing the need for stronger protective measures.
Nigeria’s corporate landscape is witnessing a significant transformation, with women increasingly occupying leadership positions and reshaping the narrative at the highest levels. A striking example of this shift unfolded recently as Mrs. Uto Ukpanah, FCIS, Company Secretary of MTN Nigeria, was inaugurated as the 30th President and Chairman of Council of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).
L-R: Dr. Karl Toriola, CEO, MTN Nigeria; Uto Ukpanah, President, ICSAN and Company Secretary, MTN Nigeria, and Aniekan Ukpanah, Managing Partner, Udo Udoma & Belo-Osagie at the Investiture Ceremony of Uto Ukpanah as ICSAN 30th President, held in Lagos on Wednesday, July 23, 2o25.
Historically, ICSAN was led exclusively by men for nearly 57 years. However, the trend began to change in 2023 when Mrs. Funmi Ekundayo broke barriers as the Institute’s first female president. In 2025, her successor and former vice president, Mrs. Ukpanah, has now become only the second woman to assume the presidency, marking a major milestone in Nigeria’s governance sector.
This development aligns with the broader momentum for women’s leadership across Nigeria’s business ecosystem. MTN Nigeria stands out as a champion of gender diversity. The company’s 2024 Annual Report reveals that women now constitute 41.4% of the workforce, a marked increase by 3% compared to 2023.
Among executive management, women hold 34.7% of positions, while female board representation stands at 21.4%. MTN’s deliberate drive, bolstered by initiatives such as the Women in Tech programme and the Y’ello Mums Internship, is fostering a pipeline of female talent across all tiers.
Female leaders at MTN are shaping strategy and impact on multiple fronts: Dr. Mosun Olusoga chairs the MTN Foundation; Odunayo Sanya serves as the Executive Director, MTN Foundation; Dr. Omobola Johnson contributes as a Non-Executive Director of the Board of Directors; and a host of others including Lynda Saint-Nwafor, Onyinye Ikenna-Emeka, Esther Akinnukawe, Ugonwa Nwoye, among others, lead critical business functions.
MTN’s policy of inclusion is reflected not just in numbers, but in recent recognitions. In 2024, Odunayo Sanya was named CSI Personality of the Year at the Nigeria Tech Innovation & Telecoms Awards, and Josephine Sarouk, Managing Director of Bayobab Nigeria (subsidiary of MTN), received the Woman in Telecoms Award in London.
Mrs. Ukpanah herself was honoured as the first-ever African recipient of the Global Corporate Secretary of the Year Award by the Corporate Secretaries International Association (CSIA), a testament to her pioneering leadership.
Ukpanah’s investiture as ICSAN President was held on July 23, 2025, in Lagos, attracting an array of dignitaries, government officials, and business leaders. Chaired by Prof. Hakeem Belo-Osagie, with a keynote delivered by Dr. Omobola Johnson, the event saw the full support of MTN Nigeria’s top brass, including CEO Karl Toriola and Board Chairman Dr. Ernest Ndukwe. In his goodwill message, Dr. Ndukwe remarked:
“This honour is a fitting recognition for Uto’s distinguished career, unwavering professionalism, and deep commitment to the principles of good governance. Uto has consistently exemplified the values that I believe ICSAN upholds, and we are confident that her leadership will further strengthen the Institute’s aspirations towards promoting excellence in governance.
“At MTN Nigeria, we are proud of her achievements and reaffirm our full support as she embarks on this important assignment. We look forward to the positive impact her tenure will bring to ICSAN.”
Also, her husband, Aniekan Ukpanah, Senior Partner at Udo Udoma & Belo-Osagie, described her as “a passionate steward, rooted in family, bound by purpose, and committed to legacy.” Outgoing ICSAN President Mrs. Ekundayo added that Ukpanah is “astute, visionary, and principled.”
Mrs. Ukpanah’s ascendancy to ICSAN’s top office, and MTN’s visible support, do more than celebrate personal or organisational victories; they signal a new era, one in which women are not just present, but are key architects of governance and future prosperity for Nigeria.
National Identity Management Commission (NIMC) has issued a stern warning to Nigerians over the illegal sale of personal data, including the National Identification Number (NIN), amid reports of a growing underground market targeting unsuspecting citizens.
In a statement released on Sunday, the Commission expressed deep concern following revelations by the Economic and Financial Crimes Commission (EFCC) that young Nigerians are offering between ₦1,500 and ₦2,000 to individuals in exchange for their NIN and other sensitive details. These details are then allegedly resold to certain fintech platforms for as much as ₦5,000.
“This is not just a case of minor fraud, it’s a threat to national security and personal safety,” said Dr. Kayode Adegoke, Head of Corporate Communications at NIMC. “When you hand over your data to unknown agents, you are essentially handing over control of your identity.”
The Commission reiterated that it will not be held liable for any misuse of personal data shared voluntarily by individuals or through third parties for financial gain or inducement.
NIMC further cautioned service providers to ensure that every NIN presented for services is properly verified using approved channels before access is granted.
To safeguard personal identity, Nigerians are encouraged to download the NINAuth App, available on Apple iOS and Google Play Store. The app enables users to manage, secure, and control access to their NIN data.
“The story of your identity should be written by you, not sold for a quick payout,” the Commission stated.
NAN reports that the NIMC’s advisory comes amid rising concerns over digital identity theft and the misuse of personal data in Nigeria’s expanding fintech ecosystem.
FG Asks Banks to Report Individuals with N25m Monthly Transactions to FIRS
NIBSS: Active Bank Accounts in Nigeria Hit 320m
FG Collaborates with China to Digitalize Customs
Glo Boosts Network Capacity for Enhanced Customer Experience
InfraCredit, AMDA Sign Partnership to Unlock Local Financing for Africa’s Mini-grid Sector
E-Business2 days agoHuawei Unveils AI Computing System to Challenge Nvidia’s Flagship Product
E-Financial2 days agoUnion Bank Rewards Customers with ₦5 Million Each in Save and Win Palli Promo Season 4 Grand Finale
E-Financial2 days agoEdun, Finance Minister Inaugurates NDIC New Management
News2 days agoLawyers Drags NLS to Court for Alleged Election Fraud, Data Violation
General News2 days agoNew Tax Law Empowers NRS to Fine Offenders up to N10m
Broadcasting2 days agoCourt Upholds AVRS Legal Rights to Licence Audiovisual Works in Hotels
Telecom2 days agoNASENI, Nigerian Air Force Renew Strategic Partnership to Drive Indigenous Defense Technologies
General News2 days agoTaskforce Arrests Six for over Fake Lottery Scam