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Smile Communications Embroiled in Claims, Counters over $125m Loan

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Smile Communications Nigeria Limited is embroiled in claims and counters over the $125 million loan it obtained from Afrexim Bank, and routed the loan through a local bank, Diamond Bank.

 

A newspaper report claimed that the broadband company defaulted in the repayment of the facility obtained to help fund the company’s infrastructure expansion plans.

 

The newspaper citing sources reported that the loan was structured so that it could be disbursed in tranches based on the attainment of critical milestones, including certain increases in active subscriber numbers.

 

While some tranches have so far been released, Diamond Bank is wary of releasing the last tranche of the $125 million loan to Smile Communications, given its poor default on the loan repayment terms.

 

The bank is now faced with the dilemma that withholding the balance of the loan could jeopardise Smile’s operations, while on the other hand, disbursing the entire loan could increase its exposure to the telecoms firm.

 

The Smile Communications however claimed that it has never defaulted on any of its loan obligations adding that the story was an attempt to derail the ongoing investigative hearing on the 9mobile acquisition bid process currently ongoing at the House

 


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Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

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Google has launched its Search Live feature globally to over 200 countries, including Nigeria, where AI Mode is available, enabling voice-and-camera conversations in users’ preferred languages.

Google Rolls Out Search Live AI to 200+ Countries, Including Nigeria

Google

Powered by the new multilingual Gemini 3.1 Flash Live model, it delivers natural, real-time interactions via the Google app on Android or iOS—tap the Live icon under the Search bar.

Ideal for hands-free help, users can speak queries for audio replies, follow-ups, or web links. Camera integration adds visual context, like troubleshooting a shelving unit, or pairs with Google Lens for real-world chats.

From the app or Lens, Nigerians can now explore, learn, or solve tasks instantly, boosting everyday productivity worldwide.


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IFC Invests $45m to Green African Telecom Sites

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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.


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Expedier Launches Platform to Ease Cross-Border Payments for African Firms

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Expedier has unveiled “Expedier for Business,” an online pro-banking platform to simplify global payments, multi-currency transactions, and financial operations for expanding companies.

Expedier Launches Platform to Ease Cross-Border Payments for African Firms

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.


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