Operators Jostle to Meet Soaring Africa’s Broadband Demand

Image

By Dipo Olowookere

Global news provider, TMT Finance, has disclosed that an urgent requirement for new investment into telecom and broadband infrastructure in Africa is driving a fresh flurry of mergers, acquisitions, IPOs, investment and financing activity, as the region’s key players jostle for position to meet the soaring demand for data across the continent.

EMEA Editor of TMT Finance, Mr Joseph d’Arrast, stated that, “The continent’s growth in the digital economy and the rising demand for data is helping to boost investor confidence in major broadband projects, of which there are many currently underway or in the pipeline.

“In response to this, many telcos, investors and specialised operators are looking to plough significant amounts of money into key projects, with a number of IPOs, new capex financing and M&A also in the pipeline.”

To discuss the next wave of opportunities, chief executives and leading heads of finance and strategy from Africa’s key broadband infrastructure companies, private equity investors and telecom operators are meeting on a dedicated panel at TMT Finance Africa in Cape Town 2018 on March 15.

The TMT Broadband Infrastructure panel, which will discuss strategies for regional growth, includes: Nic Rudnick, CEO, Liquid Telecom; Brandon Doyle, CEO, Convergence Partners; Byron Clatterbuck, CEO, SEACOM; Brian Jakins, Managing Director of Africa, Intelsat; and Thomas Hintze, CEO, Wananchi Telecom; and will be chaired by Keith Webb, Investment Banking, Infrastructure Finance, Rand Merchant Bank.

Over 70 key speakers have been announced for the event, with CxOs and senior executives also confirmed from companies including Vodacom, Telkom BCX, MTN, Standard Bank, American Tower Corp, Millicom, Google, Econet Wireless, MainOne, Teraco, Alcatel Submarine Networks, DLA Piper, IFC World Bank, Rack Centre, Investec Asset Management, Citi and Credit Suisse.

Other key session themes announced include: Telecom Leadership Africa; Digital Africa; Mobile Tower Strategies; Mergers and Acquisitions; Private Equity Africa; Spectrum sharing; Regulation and Policy; Financing TMT; Investing in Mobile Data and Services; Mobile Payments and Banking, Fintech and M-Health; and Media and Convergence.

Share
Related Stories
Image
16-January-2024

Locofy Launches One-Click AI Design-to-Code Product

By Adedapo Adesanya Locofy has announced the launch of a new product, Locofy Lightning, which uses Large Design Models (LDMs) to provide a pioneering one-click technology that converts Figma designs into web frontend code. Leveraging Locofy’s Large Design Models (LDMs) built in-house, Locofy Lightning will save developers up to 80 per cent of the time it takes to code the user interface from scratch. The Singapore-headquartered firm, in a statement seen by Business Post, said AI-first automated code assistants like Locofy.ai offer a solution to this massive, fast-growing problem, by reducing development costs and time to market. Developers and designers

Image
06-February-2024

The Growing Importance of Privacy Amongst Customers and How Businesses Should Cater to it

By Kehinde Ogundare and Veerakumar Natarajan Privacy is a growing concern for technology consumers worldwide. While there was a time when that may not have been the case for countries like Nigeria and Kenya, that’s no longer the reality. As connectivity becomes more affordable and ubiquitous, Kenyans and Nigerians have become increasingly tech-savvy and conscious regarding how much data they share with technology companies and what the latter is doing with it. In the face of these growing concerns, companies operating in Africa need to be mindful of the increasing privacy mindset of their customers. Aside from regulatory compliance, companies

Image
09-February-2024

Stakeholders Explore AI in Cybersecurity at Tek Experts C-Suite Forum

By Adedapo Adesanya Cytek Security, the sister company of Tek Experts, a leading provider of tech talent solutions, recently hosted its inaugural c-suite roundtable, bringing together industry leaders across financial services, tech, and consulting sectors to explore the evolving landscape of cybersecurity and the critical role of artificial intelligence (AI) in bolstering defences in today’s world. This is part of efforts by Tek Experts and Cytek Security to foster knowledge-sharing initiatives in the industry while innovating to adapt to the evolving cybersecurity landscape in Nigeria. At the event themed Beyond Automation – Unleashing the Strategic Power of AI for Cybersecurity,

More Stories
Image
20-August-2019

How We Plan to Raise N3.9bn Latest Q2’20–Consolidated Hallmark

By Adedapo Adesanya In line with the recapitalization directive of the National Insurance Commission (NAICOM), top insurance firm, Consolidated Hallmark Insurance, has revealed strategies on how it will attain the new directive which will take effect by June 30, 2020. In line with its statutory powers and regulatory functions, NAICOM had on May 20, 2019 announced an increase in the minimum capital for insurance companies in Nigeria which according to the announcement the new minimum capital required for general business, was increased from N3 billion to N10 billion. In a disclosure signed by the Managing Director of Consolidated Hallmark Insurance,

Image
30-December-2016

Kaduna Electric Begins Tree Trimming Exercise

By Dipo Olowookere Kaduna Electric has commenced tree trimming exercise in parts of Kaduna, Sokoto, Zamfara and Kebbi, its franchise states. According to the Head, Corporate Communication, Mr Abdulazeez Abdullahi, the objective of the exercise is to improve stability in the company’s network for a more efficient electricity distribution to customers. He added that with the exercise, tracing of faults on the network and rectifying them will be easier and it will also curb the incidences of trees fouling the network lines. The Kaduna Electric spokesman also said the tree trimming exercise is very important as it helps to reduce

Image
23-October-2018

Development Bank of Nigeria Joins SME Finance Forum

By Dipo Olowookere The SME Finance Forum now has a new member and it is the Development Bank of Nigeria (DBN), a company established by the federal government in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria. The SME Finance Forum is a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. It was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge centre for

Image
26-April-2018

Wall Street May Close Higher on Upbeat Economic News

By Investors Hub The major U.S. index futures are pointing to a higher opening on Thursday following the lackluster performance seen over the course of the previous session. Early buying interest may be generated in reaction to some upbeat economic news, including a report from the Labor Department showing initial jobless claims fell to their lowest level in nearly five decades. Traders may also react positively to the latest batch of earnings news, as the majority of companies continue to report better than expected quarterly results. Following the sell-off seen during trading on Tuesday, stocks showed a lack of direction

Image
23-December-2017

Yuletide: NSCDC Deploys 45,000 Personnel

By Dipo Olowookere No fewer than 45,000 officers and men of the Nigeria Security and Civil Defense Corps (NSCDC) have been deployed to provide tight security across the country during this yuletide season. A statement issued by National Public Relations Officer of NSCDC, Mr Emmanuel Okeh, disclosed that Commandant General of the security outfit, Mr Abdullahi Gana Muhammadu, approved the deployment of the personnel comprising sniffer dogs, specialised units such as SWAT, CBRN, Emergency and Rescue Team, Ambulances and Mobile Surveillance Vehicle to every nooks and crannies of the country to ensure a hitch free celebrations. Speaking while addressing his

Image
27-July-2020

Mechanical Engineers Launch Online Internship/Mentorship Platform

By Adedapo Adesanya The Nigerian Institution of Mechanical Engineers (NIMechE) has launched its Internship and Mentorship online Platform (NIMP). The professional body said it is first of its kind in Africa and it has been designed to equip young mechanical engineers and students with valuable skills that will help them face the realities in the labour market and also contribute meaningfully to the nation’s economic development. Speaking at the launch, the National Chairman of NIMechE, Mr Mohammed Ndaliman, said “this will close the skill-gap for Nigerian Engineers to provide the needed technological leadership to drive the robust continental economic integration

Image
19-August-2022

‘Seizure’ of Airlines’ $464m by Nigeria Angers IATA

By Adedapo Adesanya The International Air Transport Association (IATA) has again expressed disappointment in Nigeria for withholding international airlines funds, which it said have hit $464 million. This is coming after Emirates Airlines announced the suspension of all Nigerian routes starting from September 1, 2022, as the carrier said it could not continue flights to Nigeria, lamenting its trapped $85 million. IATA’s Regional Vice-President for Africa and the Middle East, Mr Kamil Alawahdi, in a statement yesterday expressed disappointment with Nigeria over the amount of airline money blocked from repatriation by the Nigerian government, saying it grew to $464 million

Image
13-December-2022

NASD OTC Exchange Down by 0.06%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange opened the week in the negative zone on Monday, December 12, as a slide in the price of FrieslandCampina WAMCO Nigeria Plc dragged the bourse down by 0.06 per cent. The milk-producing company suffered a 29 Kobo loss yesterday to trade at N66.21 per share compared with last Friday’s value of N66.50 per share. This weakened the market capitalisation of the NASD OTC exchange by N570 million to N932.78 billion from the N933.35 billion it closed in the preceding session. Similarly, it shortened the NASD Unlisted Securities Index (NSI) by 0.43

Ad
Ad
Recent Stories
Image
21-February-2024

Tinubu Appoints Kemi Nanna Nandap as Comptroller-General of Immigration

By Modupe Gbadeyanka The Deputy Comptroller-General (DCG) of the Nigeria Immigration Service (NIS), Ms Kemi Nanna Nandap, has been elevated to the post of the Comptroller-General of the agency. This followed her appointment by President Bola Tinubu, according to a statement issued by his spokesman, Mr Ajuri Ngelale, on Wednesday. The presidential aide disclosed in the statement today that the appointment of Ms Nandap will take effect from Friday, March 1, 2024. She is taking over from Mrs Caroline Wura-Ola Adepoju, whose term in office expires on February 29, 2024, the disclosure said. “President Bola Tinubu has approved the appointment

Image
21-February-2024

AFC to Pump $40m Into African Medical Centre of Excellence Abuja

By Adedapo Adesanya  African instrumental infrastructure solutions provider, Africa Finance Corporation (AFC), has signed an equity investment term sheet, pledging up to $40 million towards the construction of an Abuja-based hospital, the African Medical Centre of Excellence (AMCE). The quaternary-level multi-specialty medical institution developed by the African Export-Import Bank (Afreximbank) in collaboration with King’s College Hospital, London, aims to revolutionise healthcare in Africa. Hospitals across West Africa struggle with funding, lack of essential resources, and limited access in rural areas. This flagship facility in Abuja is a key part of Afreximbank’s network of healthcare facilities, actively countering brain drain, reducing

Image
21-February-2024

Oyo Reopens Shri-Balaji After Closure Over Pollution

By Aduragbemi Omiyale The industrial company sealed earlier this month nonconformity and adherence to environmental laws of Oyo State, Shri-Balaji Industries Limited, has been reopened. The facility was unsealed on Wednesday on the directive of the Commissioner for Environment and Natural Resource, Mr Abdulmojeed Mogbonjubola. The company, which engages in the recycling of waste tyres to produce Pyrolysis oil and carbon black and steel wire as by-products, was closed by the state government to protect the lives of residents of the area. A statement made available to Business Post disclosed that for it to be reopened, Shri-Balaji paid a fine

Image
21-February-2024

FG to Restructure, Recapitalise Bank of Agriculture for Better Value

By Adedapo Adesanya The federal government has revealed plans to recapitalise and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector and achieve national food security. This was one of the core revelations made by the Vice President, Mr Kashim Shettima, during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. He said there is a central role that BOA could play in achieving national food security, citing its extensive branch network across all senatorial districts in the country. Mr Shettima, however, expressed concern about the

Image
21-February-2024

Foundation Urges Nigerians to Adopt Waste Management Hierarchy

By Aduragbemi Omiyale A recycling organisation, Turn Plastic Recycling Foundation, has encouraged Nigerians to embrace the waste management hierarchy to make the country a zero-waste society. The Project Manager for the firm, Mr Leo Nwofa, while giving a summary of the project journey in the past two years of the foundation, said to save the planet, people must adopt the system of proper waste disposal for recycling after use. The waste management hierarchy gives top priority to waste prevention, followed by reuse, recycling, recovery and finally disposal. Speaking at an event to mark the second anniversary of Turn Plastic Recycling

Image
21-February-2024

Peter Obi Fumes as CBN Hikes Cargo Clearing Rate to N1,605/$1

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has once again increased the exchange rate for customs cargo clearance by 9 per cent or N133.06 from N1,472.76/$1 to N1,605.82/$1. The new rate, which has already been reflected on the Nigeria Customs Service (NCS) portal, will further dampen the hope of importers, and trigger an increase in the price of imported products like food, fuel, spare parts, and phones, among others. The CBN had recently reduced the exchange rate from N1,515.48/$1 to N1,472.756/$1 after the market eased following some recent policy steps. This review will be the 12th since the

Image
21-February-2024

Panic at Black Market as EFCC Intensifies Clampdown on BDCs

By Dipo Olowookere There is apprehension at the black market segment of the foreign exchange (FX) market in Lagos and other cities across the country as security officials, especially from the Economic and Financial Crimes Commission (EFCC), are going after traders at the landscape. Recall that on Monday, some agents of the organisation disrupted business activities in Abuja, and on Tuesday, a similar scenario occurred at the popular Alade Market in Lagos. On Wednesday, Business Post gathered that more places were touched, with two of the Bureaux De Change (BDC) operators allegedly picked up by security operatives in the Agege

Image
21-February-2024

VFD Group Donates Books to Comenius Nursery and Primary School

By Modupe Gbadeyanka About 1,000 copies of Mama’s Sleeping Scarf by renowned Nigerian writer, Ms Chimamanda Ngozi Adichie, have been donated to the pupils of Comenius Nursery and Primary School in the Ikola area of Lagos State. The educational items were given to the elementary school by a leading proprietary investment company, VFD Group Plc, as part of its Corporate Social Responsibility (CSR) initiative. The firm, which is committed to fostering growth across diverse industries in Africa, said the books were donated to promote reading culture among children and inspire young minds to explore limitless possibilities. Mama’s Sleeping Scarf is

Image
21-February-2024

DSS Warns Organised Labour To Shun Planned Protest

By Adedapo Adesanya The Department of State Services (DSS) has urged Nigerians planning to protest next week led by organised labour to halt the idea. According to a statement from the spokesperson of the Nigerian secret police on Wednesday, Mr Peter Afunanya, there were plans by sections of the organised labour to stage protests in parts of the country over sundry economic issues between February 27 and 28, 2024 “While the Service recognises such action as the legitimate right of the labour movement, it, however, urges the body to shelve the plan in the interest of peace and public order,”

Image
21-February-2024

FG Completes $70m Yearly Concessionaire of Zungeru Plant to Penstock

By Adedapo Adesanya The federal government has completed the transfer of the operations of the Zungeru Hydroelectric Power Plant (ZHPP) to a concessionaire, Penstock Limited, in a move that will see the country earn $70 million yearly from the deal. The Vice President, Mr Kashim Shettima, confirmed this during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. A concession is a kind of partnership between the public sector and often private companies that have shown its added value in a specific area, for example developing infrastructure. The