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IFC Backs Liquid Intelligent Technologies to Boost Africa’s Digital Infrastructure

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The International Finance Corporation (IFC) has partnered with Liquid Intelligent Technologies to expand data centre capacity and the rollout of fibre-optic cable on the African continent.

The partnership aims to increase digital connectivity and inclusion in Africa and support the region’s growing digital ecosystem.

IFC’s equity and debt investments in Liquid Intelligent Technologies, which to date total approximately $250 million, will support the company to grow its hyperscale data centre capacity in Egypt, Kenya, Nigeria and South Africa through its subsidiary, Africa Data Centres.

According to Liquid, as Africa’s population grows and is increasingly urbanised, data consumption is expected to grow strongly and with this comes the need for secure local data hosting.

It says the investments will also support Liquid Intelligent Technologies in the continued rollout of its fibre broadband network, which today covers more than 100 000km of Sub-Saharan Africa.

The continued build-out of its network will help to connect businesses and individuals to the internet across the continent and position Liquid intelligent Technologies to be at the forefront of Africa’s digital transformation with the provision of complementary digital services, the company says.

“We are very pleased that IFC continues to support Liquid. The investments in our data centres and fibre broadband network will directly support our growth plans over the coming years by encouraging the adoption of new services such as cloud and other digital services; services that are critical in driving sustainable development across Africa,” says Strive Masiyiwa, Liquid Intelligent Technologies executive chairman and founder.

“Digital technologies are rapidly transforming how people, businesses and governments communicate, transact and access information and services.

By working with Liquid Intelligent Technologies, we can help expand access to infrastructure and digital services that power Africa’s digital economy, creating new opportunities for growth and jobs. This is an essential element for Africa’s economic transformation and building back better,” says Makhtar Diop, IFC managing director.

Liquid says in a statement that digital infrastructure is the backbone of the digital economy, but Sub-Saharan Africa needs around $100 billion in investment to achieve universal, affordable and high-quality broadband access by 2030, according to the Broadband Commission on Sustainable Development.

To achieve universal broadband access, it says, the continent needs at least 250 000km of new fibre.

IFC’s latest investment in Liquid follows its investment in the company in February through Liquid’s bond placement on Euronext Dublin, Ireland’s main stock exchange. The issuance raised $620 million.


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QNET Named ‘Direct Selling Company of the Year’ at AfriTECH 4.0 Awards

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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.


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Martin Ekpeke Honored with Digital Reporting Excellence Award @ATAEx

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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.


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NCC Calls on Judiciary to Champion Nigeria’s Digital Transformation

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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.


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