Telecom
Tizeti Secures Facility to Expand Solar-Based Internet Access in Nigeria
Tizeti Network Limited, West Africa’s pioneer solar-based internet service provider, has secured long-term financing from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund (NIDF) to finance the rollout of its broadband network across 15 states in Nigeria.
“We are excited to announce the closing of this new debt facility with Nigeria’s largest infrastructure debt fund,” commented Kendall Ananyi, Tizeti’s founder and CEO, in a press release.
“We see tremendous opportunity for domestic capital in addressing digital exclusion barriers in Nigeria and this partnership will hopefully be one of many.”
Tizeti will use the senior debt facility to build last-mile digital infrastructure and “catalyse sustained development, value creation, improved connectivity, and a deeper and wider digital inclusion net”, he said.
“This will also increase our coverage from five states and make us the largest internet service provider in Nigeria by coverage.”
The company currently serves over 3mn subscribers in Nigeria (residential facilities, businesses and hotspot users), via its network of solar-powered base stations.
Tizeti will deploy the funds to build new internet infrastructure and purchase additional equipment to expand its services to Delta, Akwa Ibom, Cross River, Abia, Anambra, Imo, Enugu, Abuja, Kano, and Kaduna.
NIDF is Nigeria’s largest and Africa’s first-ever listed infrastructure fund, providing long-term, Naira-denominated financing for infrastructure projects in Nigeria.
It enables project sponsors to avoid the unsustainable mismatches of currency and tenor between their financing and their revenues/cash flows
“Chapel Hill Denham is excited to partner Tizeti in the expansion of fast, reliable broadband network across Nigeria,” Anshul Rai, NIDF chief executive said.
“Digital economy is a key strategic pillar for Nigeria to accelerate its economic and social development, and providing access to affordable internet services is crucial to achieve the true potential of digitisation.
“We continue to work with all stakeholders to support accelerated development of digital infrastructure in Nigeria by providing access to long-term, Naira-denominated financing for such projects – thus realising the government’s vision of reaching 70% broadband penetration by 2025.”
With its current capital base of over NGN92bn ($117mn), NIDF has a diversified and growing portfolio of infrastructure loans in a broad range of sectors including power generation, energy infrastructure, transportation, telecom, and social infrastructure (education and healthcare).
NIDF’s investor base includes the African Development Bank (AfDB), Nigeria Sovereign Investment Authority (NSIA), and nearly all the pension funds operating in Nigeria.
Tizeti is also expanding rapidly to other African countries, with successful launches in Accra and Tema, Ghana, and has expanded to Cote D’Ivoire.
Telecom
QNET Named ‘Direct Selling Company of the Year’ at AfriTECH 4.0 Awards
QNET, a leading global lifestyle and wellness direct selling company, has been honored with the prestigious “Direct Selling Company of the Year” award at the recent AfriTECH 4.0 Conference and Awards.
This recognition underscores QNET’s significant contributions to financial inclusion and e-commerce in Africa.
The award was presented to QNET by Mr. Chike Onwuegbuchi, Co-Convener of AfriTech & ATAEx Awards. Onwuegbuchi commended QNET for its unwavering commitment to empowering individuals and driving economic growth across the continent.
He highlighted the company’s innovative approach to direct selling, coupled with its focus on financial literacy and digital innovation.
Biram Fall, Regional Manager for QNET Sub-Saharan Africa, expressed his gratitude for the recognition.
He emphasized QNET’s dedication to innovation, entrepreneurship, and digital transformation in Africa.
Fall highlighted the company’s impact on the Nigerian economy, particularly through its advanced technology and robust e-commerce platform.
“QNET’s participation in this event further solidified its position as a key player in the region’s digital transformation journey.
“We are committed to staying in Nigeria, our biggest market in Sub-Saharan Africa, and contributing to the region’s development,” Fall stated.
During his keynote speech, Fall underscored QNET’s commitment to empowering individuals through knowledge and skill development.
He highlighted the FinGreen financial literacy program, which has already trained over 1,350 young people in Nigeria to make informed financial decisions.
Fall also emphasized the potential of direct selling to drive economic growth in Africa. “Our e-commerce-driven direct-selling model provides opportunities for income generation across more than 100 countries, helping individuals pursue their goals while contributing to community growth,” he explained.
Addressing the challenges of limited banking infrastructure and cash dependency in Africa, Fall stressed the importance of financial inclusion for e-commerce growth.
He called for collaboration to accelerate financial inclusion and e-commerce growth in Africa, fostering a financially inclusive future for the continent.
Telecom
Martin Ekpeke Honored with Digital Reporting Excellence Award @ATAEx
Martin Ekpeke, Managing Editor of ITPulse, a leading Nigerian online Information and Communications Technology (ICT) news platform, was awarded the prestigious Digital Reporting Excellence Award at the Africa Tech Alliance Excellence (ATAEx) Awards.
The award, presented by Tech Castle Foundation, recognizes Ekpeke’s exceptional coverage of cyber threats, digital privacy, and the evolving online security landscape.
“We are thrilled to honor Martin Ekpeke with the Digital Reporting Excellence Award.
“His insightful reporting has been instrumental in raising awareness about critical digital issues and empowering individuals and organizations to stay informed and protected,” said Chike Onwuegbuchi from Tech Castle Foundation.
Ekpeke expressed his gratitude for the recognition, stating, “I am deeply honored to receive this award.
“It is a testament to the hard work and dedication of the entire ITPulse team.
“We are committed to delivering high-quality, informative content that empowers our readers to navigate the complex digital world.”
The Africa Tech Alliance Excellence (ATAEx) Awards celebrate individuals, businesses, and institutions driving digital transformation in Africa.
This year’s event brought together tech enthusiasts, regulators, and other key stakeholders in the Nigerian ICT ecosystem.
Telecom
NCC Calls on Judiciary to Champion Nigeria’s Digital Transformation
Nigerian Communications Commission (NCC) has emphasized the judiciary’s crucial role in Nigeria’s digital transformation. During the Annual Workshop for Judges on Legal Issues in Telecommunications, Executive Vice Chairman Aminu Maida highlighted the judiciary’s reliance on digital tools to enhance justice delivery.
He stressed the need for special protections for telecommunication infrastructure, which faces disruptions from vandalism, theft, and restricted access.
Maida called for judicial support to implement the Presidential Order designating telecommunications infrastructure as Critical National Information Infrastructure.
This order prohibits unauthorized actions against such infrastructure without a lawful court order.
The judiciary’s role in protecting fundamental rights, enforcing digital contracts, and developing digital jurisprudence is vital for Nigeria’s digital transformation.
Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, commended the NCC’s efforts to protect consumers from unfair practices and emphasized the judiciary’s commitment to the telecommunications sector.
She highlighted concerns such as cybersecurity risks, consumer data protection, and the need for improved dispute resolution frameworks within the digital economy.
The workshop aims to equip judicial officers with the technical expertise required to address emerging legal challenges in telecommunications.
Nigeria’s digital economy has significant growth potential, with projected revenues of $18.30 billion by 2026, expected to create employment opportunities, reduce poverty, and promote innovation.
The NCC is working with key stakeholders to ensure the seamless implementation of the Presidential Order and to keep Nigeria competitive in the global digital economy.
- Telecom3 days ago
AfriTECH 4.0 Holds in Lagos Today
- E-Financial3 days ago
Kekere-Ekun, CJN Blames Reliance on Telecom Services for Online Banking Glitches
- E-Financial2 days ago
9PSB Promotes Financial Literacy @ World’s Savings Day 2024
- E-Business2 days ago
inq. Nigeria Celebrates Double Win at Tech Innovation Awards (TIA) 2024
- Telecom3 days ago
Telcos Scale Down on Network Investments to Reduce Forex Losses
- E-Financial3 days ago
US Elections: Trump Wins! What Does this Mean for Nigeria?
- Telecom2 days ago
NCC Calls on Judiciary to Champion Nigeria’s Digital Transformation
- E-Financial3 days ago
Ecobank Serves Customers Notice of Planned Service Disruption