Telecom
Smile Secures $365m Financing Towards 4G Expansion in Africa

Smile Telecoms Holdings Ltd, which owns and operates mobile wireless 4G LTE broadband networks in the 800MHz band in Nigeria, Tanzania and Uganda, today announced plans to use US$365 million funding (made up of debt and equity financing) raised to expand its 4G LTE network coverage.
In a statement the company said the funding will be used to offer clear voice services and, by the end of 2015, establish national coverage comparable to the largest 3G network in each of its current countries of operation.
The funding is comprised of US$50 million of equity, raised from the Public Investment Corporation on behalf of Government Employees Pension Fund (“PIC”), and a US$315 million multi-tranche, multi-jurisdictional debt facility led by African Export-Import Bank with participation from the Development Bank of Southern Africa, Diamond Bank PLC, Ecobank Nigeria, the PIC, the Industrial Development Corporation of South Africa Limited and Standard Chartered Bank.
Smile’s shareholders now comprise Al Nahla Group, a Saudi Arabia-based company, which is the majority shareholder; Renven Investment Holdings, a pan-African investment vehicle, in which Nigerian investors, including the Obijackson Group, are the majority; Verene, representing Smile senior management and social entrepreneurs from South Africa; Telecom Investments, a Saudi Arabian-based investment company; Capitalworks, an active alternative management company, specialising in investment in the African mid-market”; the PIC; and Smile employees.
Under the terms, the funding will be used to accelerate national network roll-out, including equipment and services provided by Alcatel Lucent and Ericsson, a full MPLS (Multiprotocol Label Switching) network, a London Point of Presence and expanded international backhaul services, and to fund operational expenditure and working capital.
Irene Charnley, chief executive officer of Smile, explained that the regulatory environment in each of its countries of operation is clear, specifically in terms of license application and spectrum allocation.
“If you consider Nigeria, its regulatory environment is clear and transparent. There is no ambiguity.”
Charnley added that in South Africa the process takes much longer and the company is waiting on the regulator to provide direction on issues like spectrum. Once the company has launched its broadband network in the DRC in Q1 2016, it will focus on the South African market.
In its statement the company says there is persuasive evidence linking broadband to job creation. It quotes the Brookings Institution as stating that “for every one percentage point increase in broadband penetration, employment is projected to increase by 0.2 to 0.3 percent per year.”
“Furthermore, according to the Broadband Strategies Handbook by The World Bank, “a 10 percent increase in the penetration rate of broadband in developing countries is associated with a 1.4 percent increase in GDP per capita.”
Charnley said the process to secure the funding took three years and has been secured for a period of between seven and nine years. She reiterated that it is one of the largest capital raises ever for a telecommunications operator in Africa and brings the total funding committed to the company, since its founding in 2007, to approximately US$600 million.
Darisami International Consultancy Ltd acted as financial advisor to Smile.
Telecom
NCC Insists Telcos Must Compensate Subscribers for Poor Quality of Service

Dr. Aminu Maida, executive vice chairman, Nigerian Communications Commission (NCC), has insisted that telecommunications operators must compensate subscriber for poor quality of service after a facility tour of major telecommunications operators in Lagos yesterday.

The team comprises of Chief Idris Olorunnimbe the Chairman of the Governing Board of the Nigerian Communications Commission (NCC), EVC, Engr. Gbenga Adebayo, chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON) and other stakeholders visited MTN Nigeria, Globacom and Airtel Nigeria.
Earlier this week, the commission directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service experience is below specified targets within certain locations.
In a statement signed by Nnenna Ukoha, head, Public Affairs Department, NCC, the commission noted that its position is that subscribers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards of service delivery.
Speaking after the facility tour the EVC, said: “We are in a situation where Nigerians are yearning for better service, but better service requires infrastructure. We are not where we want to be or where we need to be, but from what I’ve seen today, I am reassured that the operators are continuing to invest. I urge Nigerians to be a little bit patient while these investments are made, so that we can address the infrastructure deficit that is required to improve service for Nigerians.
“I wasn’t expecting that a tour like this would change that directive. We looked at it and we said the fairest thing to do was for subscribers to be compensated. This is not to say that the operators have not tried. Service has improved. The data shows that our demand is also increasing at a rate faster than the infrastructure is being built. So Nigerians have to be a little bit patient. From what I’ve seen today and all the work that has been done, I’m confident that gap will be close shortly”.
Chief Idris Olorunnimbe, chairman of the Governing Board of the Nigerian Communications Commission (NCC), added: “From what we have seen, and what has been done. We have been told in detail what is to come. And I mean, just like the EVC said, all we need is a bit more patience, better service, deeper penetration is assured based on everything that we’ve seen, and everything we have heard.
“It’s also important to commend our operators. The infrastructure that we’ve seen is comparable with any infrastructure from any telecom operator anywhere in the world, and Nigeria is not behind, and based on what we’ve also seen in terms of their plans for expansion, Nigeria will always be able to compete with any other country in the world.
” More so, drop calls are not deliberate. They are caused by a few things. One of it is fiber cut and attacks or vandalization of towers and other infrastructure. But now, it has reduced. We have seen they’ve shown us data today that shows a significant reduction. It will continue to reduce. As the critical national infrastructure program deepens and we’re also about to introduce an accountability framework of “when fiber is damaged, you must fix it”. That way we think that people will be more responsible with their constructions that breach telecom infrastructure. Then we can keep those incidents to the barest minimum, drop calls would also reduce.
“However, when calls drop, the networks also lose so it’s not in their interest for your calls to drop or for you to experience frustration when you use the service, because the more reliable it is, the longer you spend on it, the longer you spend on it, the more money they’re able to make. So, they are also doing their best in terms of ensuring that these incidents are reduced to the barest minimum”.
Telecom
NITDA Urges Joint Action to Drive Nigeria’s Digital Innovation

Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has underscored the importance of collaboration between government institutions and emerging startups as a catalyst for Nigeria’s digital transformation and national development.

Speaking at the Nigerian Satellite Week 2026 in Abuja, themed “Harnessing Space Technology for an Extraordinary Nigeria,” Inuwa urged stakeholders to embrace partnerships as a pathway to innovation and impact.
“Take a good step, and you can make a difference,” he said, emphasizing the need to translate ideas into tangible outcomes through collective effort.
The NITDA boss, represented by the Director of Stakeholder Management and Partnerships, Aristotle Onumo, during his presentation on “Enhancing collaboration between government agencies and emerging start-ups”, outlined four guiding principles for driving transformation: enabling the ecosystem rather than controlling it; prioritising networks over institutions; developing talent while supporting innovation and adopting practical solutions; and focusing on platforms rather than isolated projects.
To illustrate the power of digital innovation, Inuwa shared the story of a rural farmer whose productivity challenges ranging from unstable rents to failed loans were overcome through access to digital tools and networks. He explained that such incremental interventions can scale into broader economic gains, ultimately contributing to national infrastructure like satellite systems.
“This is the power of space technology, and it shows why events like this are so important,” he noted.
Highlighting the evolving role of space technology, Inuwa observed that startups are increasingly driving innovation across telecommunications, navigation, security, and cloud services. Once dominated by global superpowers, the sector is now emerging as a key economic driver, with Nigeria’s “Sunrise Packet” projected to contribute over $1.5 billion to the economy by 2030.
“Innovation without adoption is wasted,” he added, stressing the critical role of government in enabling start-ups to scale through supportive policies, infrastructure, and incentives.
According to him, developmental regulation should focus on creating markets, orchestrating ecosystems, and delivering public value rather than stifling innovation. He pointed to several initiatives supporting the growth of Nigeria’s innovation ecosystem, including the Digital Start-Up Act, Idea Hatch, and the National Digital Leadership Programme, all designed to empower young innovators and connect them to global opportunities.
He further highlighted platforms such as GITEX Africa, GITEX Nigeria, and Digital Nigeria, which provide visibility for start-ups and attract investment, partnerships, and mentorship.
Inuwa concluded with a strong call for collaboration among government, start-ups, non-governmental organisations, and investors, describing Nigeria’s youth as the country’s greatest asset.
“If we are going to create a digital Nigeria, we must collaborate,” he said.
Also speaking at the event, the Minister of Communications, Innovation and Digital Economy, Tijani, described Nigeria’s satellite infrastructure as central to the nation’s digital future.
“Nigeria is the only West African country with its own satellite. NigComSat provides critical connectivity and resilience, benefiting not just Nigeria but the entire region,” he said.
Tijani disclosed that President Bola Ahmed Tinubu has approved the acquisition of NigComSat-2A and NigComSat-2B, a move expected to significantly enhance the country’s space capabilities.
He stressed, however, that infrastructure alone is not sufficient.
“What truly matters is how we leverage this technology to improve agriculture, education, security, and business operations,” he said.
The Minister also highlighted key government investments, including a ₦12 billion digital economy research cluster fund under Project Bridge, which will support academics and researchers nationwide. He added that Nigeria is expanding its digital backbone through 90,000 kilometres of fibre optic cables, nearly 4,000 telecom towers in underserved communities, and new satellite deployments to strengthen regional connectivity across countries such as Cameroon, Niger, Chad, Burkina Faso, and the Republic of Benin.
“The talent, ideas, and energy are all here in Nigeria. It is up to us to turn them into real outcomes for our people and the economy,” Tijani added.
The Nigerian Satellite Week continues to provide a strategic platform for collaboration among government, start-ups, academia, and the private sector, fostering innovation and reinforcing Nigeria’s leadership in Africa’s digital and space economy.
Welcoming participants, the Managing Director of Nigerian Communications Satellite Limited (NIGCOMSAT), Jane Nkechi Egerton-Ideyen, said Nigeria’s space programme is entering a new phase marked by deliberate and focused growth.
She pointed to strengthened institutional capacity, expanding partnerships, and clear economic gains, noting that the agency’s revenue grew from less than $650 million in 2023 to over $2 billion in 2025. She attributed this surge to key reforms, new commercial deals, and increasing demand for satellite broadband services across the African continent.
Egerton-Ideyen also disclosed that Nigeria has launched seven space assets in just over two decades, adding that the country is shifting its focus from prestige-driven initiatives to practical outcomes—enhancing connectivity, improving livelihoods, and promoting inclusive development.
She further revealed that more than 500 young Nigerians received training in satellite technology within the past year, while over 50 startups have benefited from NIGCOMSAT’s accelerator programme.
Telecom
Oracle Corporation Axes 30,000 Workers in Brutal AI Shake-Up


Oracle Corporation
E-Financial2 days agoNGX REGCO Fines 5 Firms N291m for Market Manipulation
E-Financial2 days agoFG Launches Cross-Border Digital Payments Report
News2 days agoDangote Refinery Debunks Speculations on IPO
News2 days agoDescasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership
E-Financial2 days agoInterswitch Deepens Strategic Partnership with KCB Group to Advance Digital Payments and Financial Inclusion
News2 days agoWorld Backup Day: Research Reveals 84% of Users Store Sensitive Data Digitally
General News2 days agoMoniepoint Launches Sixth Edition of Women in Tech Internship with “There Is Space for You” Campaign
General News2 days agoFG Awards N50m Each to 45 Students under S-VCG













