Telecom
iSON Xperiences Secures $51 Million Investment from Gulf Capital, AfricInvest
Gulf Capital, one of the largest and most active alternative asset management firms in the Middle East, and AfricInvest, a leading pan-African mid-cap-focused private equity firm, have partnered for the first time to provide a US$ 51 million structured loan and equity investment to iSON Xperiences (formerly iSON BPO Limited), one of the largest outsourcing and customer experience partner/delivery partner operating in 14 countries in Africa and in India.
Gulf Credit Opportunities Fund II, Gulf Capitals’ second private debt fund, and AfricInvest Fund III, the firm’s third generation pan-African fund, provided a total debt and equity commitment of US$ 25.5 million each. Proceeds from the co-investment will be used for growth and working capital, as well as for acquiring shares from a minority investor.
iSON Xperiences is the largest customer experience partner / delivery partner in Sub-Saharan Africa, accounting for an estimated 75% of the market, excluding South Africa. The company’s operations serve 425 million telecom end-users through 27 call centres in 13 Sub-Saharan countries, South Africa and India.
Today iSON Xperiences is a valued partner and consultant for clients looking to remain ahead of the customer experience management curve, in a dynamic global environment.
Founded in 2010, iSON Xperiences (formerly iSON BPO Limited) launched its operations in six countries in Africa including Kenya, Tanzania, Burkina Faso, Chad, Niger and Nigeria and in India with a focus on offering call centre services to the telecommunication sector.
The company rapidly expanded and transformed its business to offer related outsourced experience services and technology solutions for the banking and insurance (BFSI), retail, travel and hospitality, media and entertainment, aviation, and e-commerce sectors in addition to the telecommunication industry.
Dr. Karim El Solh, Chief Executive Officer of Gulf Capital, said: “iSON Xperiences is another success story in Africa that we are delighted to support through this co-investment with AfricInvest.
“Our private debt solutions remain a flexible financing instrument for market leaders who are looking for growth and working capital to implement their next phase strategy.
“We commend iSON on its sharp focus on delivering superior customer experience to the end customer for all its clients. This is Gulf Capital’s second investment in Sub-Saharan Africa over the last year, and we look forward to expanding our franchise across the region.”
Adam Hadidi, Managing Director Private Debt at Gulf Capital, commented: “iSON Xperiences is an inspiring example of how a company can grow from a single country, single sector provider to achieve impressive growth across markets and sectors.
Very early on, iSON graduated from being a call center services provider to an end-to-end customer experience partner, thus providing a seamless experience to the end customer.
The management team has a clear vision and a proven track record of building first-class operations. We are pleased to be partnering with AfricInvest to support iSON in its growth journey.”
Hakim Khelifa, Executive Partner of AfricInvest added: “The BPO industry is an important sector for the continent of Africa, providing many opportunities for employment.
AfricInvest has considerable experience investing in outsourcing companies and recognises the significant opportunities that lie ahead for iSON Xperiences.
As the leading customer experience delivery partner in sub-Saharan Africa, the company is well placed to continue its geographic expansion as well as to benefit from the implementation of innovative digital strategies.
We believe the iSON edge lies in going the extra mile for every client and providing a seamless experience to their end customer. We look forward to partnering with Gulf Capital as together we accompany iSON Xperiences on this exciting path.”
Ramesh Awtaney, Founder and Chairman of iSON Group, said: “At iSON, as we continue to transform ourselves to provide our clients solutions for complete Digital Customer Experience Management covering both processes and technology, we are excited to welcome our new investment partners Gulf Capital and Africinvest.
They bring with them deep industry and geography knowledge. We are confident that with this fresh investment, we are now on an accelerated trajectory to be the largest Customer Experience Partner company in emerging markets. We remain committed to rapid innovation and enabling business transformations in emerging markets, so as to ultimately deliver on our vision.”
The deal marks the sixth investment for Gulf Capital from its US$ 251 million second debt fund and is the second for the company in Sub-Saharan Africa. With this commitment in iSON, Gulf Credit Opportunities Fund II is now 52% invested. It is the 10th investment for the US$273m AfricInvest fund III that is now more than 80% deployed.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
Concerns over network reliability and its impact on Nigeria’s growing creator economy took centre stage at MTN Nigeria’s Data on Trial event, where content creator and streamer, Jarvis, challenged telecommunications operators to improve connectivity for digital creators.
Speaking during the event, Jarvis asked whether there were locations in Nigeria where uninterrupted internet connectivity could support real-life (IRL) streaming without network disruptions.
“Are there places where there is no breakage when streaming IRL?” she asked.
Her question highlighted the challenges faced by content creators who depend on stable internet services for live streaming, content uploads and real-time engagement with audiences.
Responding, MTN Nigeria’s Chief Technical Officer, Mr Yahaya Ibrahim, said network performance depends on several factors, including location, network coverage, device capability and the number of users connected to a particular base station.
He noted that operators continue to invest in expanding network capacity to meet the growing demand for data services.
Earlier, MTN’s General Manager, Network Performance and Quality Assurance, Mr Michael Ndukwe, explained the evolution of mobile network technology in Nigeria, from first-generation (1G) services to the current fifth-generation (5G) technology.
According to him, each phase of technological advancement has significantly increased network capacity and enabled new digital services.
Ndukwe cited Nigerian Communications Commission (NCC) data showing that Nigerians consumed about 13.2 million terabytes of data in 2025.
He added that data usage reached approximately 4.06 million terabytes in the first quarter of 2026, reflecting the country’s increasing reliance on digital platforms and online services.
According to him, the growth is being driven by wider adoption of 4G and 5G networks, increased smartphone penetration, the proliferation of smart devices and expanding use of social media platforms.
Participants at the event noted that as more Nigerians build businesses and careers around digital content, access to reliable and high-speed internet has become critical to sustaining the country’s digital economy and creator ecosystem.
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