Telecom
NESG Panel: Strong Governance and Regional Integration Key to Africa’s Global Competitiveness
The 31st Nigerian Economic Summit (NES), a platform for policy dialogue between government and business leaders, held in Abuja from October 6 – 8, 2025. During one of the plenary sessions on Wednesday, October 8, titled: “Titans on the Move: Africa’s Multinationals,” Dr Ernest Ndukwe (OFR), Chairman of MTN Nigeria, urged African governments to open borders and dismantle barriers that hinder the free movement of people, capital, and expertise across the continent.
L–R: Dr Ernest Ndukwe (OFR), Chairman, MTN Nigeria; Olaniyi Yusuf, Chairman, Nigerian Economic Summit Group (NESG); Cecilia Akintomide, Chairperson, UN Sanitation and Hygiene Fund; Girish Sharma, MD/CEO, Guinness Nigeria Plc; and Olugbenga Agboola, CEO, Flutterwave, during the panel session on “Rising Together Initiative: Titans on the Move – Africa’s Multinationals” at the 31st Nigerian Economic Summit (NES), held at the Transcorp Hilton, Abuja, on Wednesday, 8th October 2025.
“Telecoms has become the backbone of Africa’s integration,” Dr Ndukwe told delegates. “Expanding into new markets is not optional for African companies; it is the beginning of sustainable growth. To achieve this, we must ease the movement of resources and expertise.”
Dr Ndukwe drew on MTN’s journey of over 2 decades expanding across Africa, as an example of how disciplined governance, merit-based recruitment and a long-term strategy can sustain multinational growth. He emphasised that predictable policies and regional cooperation will help African companies reduce transaction costs, establish stronger value chains and compete globally.
The panel brought together leaders from technology, finance and FMCG sectors who echoed the call for deeper regional integration. The session was moderated by Cecilia Akintomide, Chairperson of the UN Sanitation and Hygiene Fund, who also highlighted the need for regulatory alignment and public-private partnerships, stressing that Africa cannot afford to operate in fragmented silos. “Collaboration across borders is essential if we are to unlock the scale needed to achieve sustainable development goals,” she said.
Girish Sharma, MD/CEO of Guinness Nigeria Plc, emphasised the importance of local capacity in expansion, noting that multinational growth must be grounded in an understanding of cultural and consumer diversity. “Success is not only about capital flows, but also about adapting business models to the realities of each market,” he said.
Olugbenga Agboola, CEO of Flutterwave, described payments as the “circulatory system” of African trade, lamenting that fragmented payment systems still force businesses to route funds through indirect channels. He called for interoperable frameworks that would allow seamless transactions across borders, thereby accelerating trade under the African Continental Free Trade Area (AfCFTA).
Together, the panellists agreed that AfCFTA represents a game-changing opportunity to reshape Africa’s economic future. They concluded that opening borders, harmonising regulations and maintaining strong governance structures will be decisive in transforming African firms into global competitors and ensuring inclusive regional growth.
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.
Breaking…..Kuda Lays Off Many Employees in Broad Restructuring
NCC to Curb SIM Fraud, Strengthen Digital Security with New Platform
NBC Boss Urges Content Ceators to Participate in DSO
Kidnappers Now Use Banks to Collect Ransoms — Expert
CBN Says Bank Customers Won’t Lose Deposits because of Recapitalisation
Kaspersky Discovers New Phishing Campaign Exploiting Google Tasks Notifications to Steal Corporate Credentials
esentry 2025 Report Shows Healthcare, Financial Services and Telecoms as Staging Grounds for Increased Cyberattacks in Africa
Spotify’s Loud & Clear Report Reveals Over ₦60Bn Revenue for Nigerian Artists in 2025
MTN Nigeria Posts Record N1.70 Trillion Pre‑Tax Profit, Declares N20 Dividend for 2025
China Threatens to Shut Nigeria’s Satellite Over $11.44m Unpaid Debt
E-Financial3 days agoCBN Directs IMTOs to Open Naira Settlement Accounts
Telecom3 days agoNigerians Lose N12.5Bn to AI-Driven Scams- PwC
General News3 days agoCourt Remands Hacker for Allegedly Stealing N3.09Bn from FCMB
Telecom3 days agoAirtel Africa, Starlink Mobile Data and Messaging Testing Take off in Kenya
E-Financial3 days agoDLM Capital Group’s AAA-Rated Sovereign Bond-Backed Composite Notes (“SBCNS”) Strengthens Investor Confidence with Successful First Principal & Interest Payment
E-Business3 days agoAU Sees AI Adoption Evolving to Boost Economic Growth in Africa
Telecom3 days agoGATEWAY Programme Opens Doors for 340,000 Nigerian Youths to Tap into $1.85trn Global Gig Economy
News3 days agoKaspersky, AFRIPOL Conduct Joint Cybersecurity Training for African law Enforcement