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.