Telecom
Bharti Airtel Inks Long-term Strategic Investment with QFE
Bharti Airtel, a leading global telecommunications services provider has entered into a binding agreement with Qatar Foundation Endowment (“QFE”), under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5% in the Company, post issuance of the new shares.
As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of INR 340 per share amounting to a total consideration of USD 1.26 billion (INR 6796 crores). The investment will further strengthen the capital structure and provide further flexibility for the Company to deliver on its growth strategy.
Mr. Sunil Bharti Mittal, chairman, Bharti commented thus, “I am delighted to welcome another high quality long-term institutional investor to our shareholder base. This strategic partnership with QFE demonstrates the confidence they have in the Company and our strategy for growth. In addition, this agreement exemplifies further strengthening of the already deep economic and cultural relations between Qatar and India. We look forward to a long and fruitful partnership with QFE”.
Speaking on the agreement, Rashid Al-Naimi, acting chief executive officer, QFE, said, “We are excited to be making a significant investment in one of the leading telecommunications companies in the world. As a long-term global investor, our shareholding gives us exposure to a high growth sector in key emerging markets. QFE looks forward to supporting Bharti in realising the full potential of this world class business.”
Goldman Sachs acted as sole financial advisor to QFE on this investment.
Telecom
Multiple Taxes, RoW Challenges Hurting Telecom Sector – ATCON
Association of Telecommunications Companies of Nigeria (ATCON) has raised alarm over persistent challenges threatening the telecom industry’s growth and sustainability.
The association highlighted multiple taxation, Right of Way (RoW) bottlenecks, and infrastructure vandalism as major impediments to the sector’s progress.
Mr. Tony Emoekpere, president of the association, speaking during ATCON’s 31st-anniversary celebration in Lagos at the weekend, called for urgent action to address these issues, emphasizing their critical impact on Nigeria’s digital transformation efforts.
Mr. Emoekpere outlined the following obstacles: The telecom sector is burdened with excessive and overlapping taxes levied by federal, state, and local governments, creating a hostile business environment that discourages investment and innovation.
Lengthy and costly processes for obtaining RoW permissions delay infrastructure expansion, hindering broadband rollout and network upgrades.
Frequent attacks on critical assets like fiber cables and base stations cause financial losses, disrupt services, and negatively impact both operators and consumers.
To overcome these challenges, Emoekpere advocated for collaborative efforts between government agencies, policymakers, and industry stakeholders. He proposed:
Harmonized Taxation Policies: To reduce redundancies and attract more investments.
Streamlined Right-of-Way Approvals: To accelerate the deployment of infrastructure.
Enhanced Security Measures: To safeguard telecom infrastructure from vandalism.
“These challenges require immediate attention and collective action. Only through unified efforts can we create an enabling environment for telecommunications to thrive and contribute significantly to Nigeria’s economy,” Emoekpere stated.
He also emphasized the immense potential of emerging technologies like 5G and the Internet of Things (IoT), which present unprecedented opportunities for the sector. However, he warned that foundational issues must be resolved to fully harness their benefits.
“The Nigerian telecom industry is at a critical crossroads. We must address these systemic challenges to unlock the full potential of telecommunications and transform Nigeria into a leading digital economy in Africa,” Emoekpere concluded.
The continued development of the telecom sector, he added, is vital not only to the industry but also to the broader goal of positioning Nigeria as a digital leader on the continent.
Telecom
Nigeria Risks Missing out on $1.2 Trillion AI Opportunity- NigComSat
Nigerian Communications Satellite Limited (NigComSat), the country’s satellite operator, has warned that Nigeria may lose a $1.2 trillion share of the global Artificial Intelligence (AI) economy by 2030.
Nkechi Egerton-Idehen, managing director, NigComSat made this known in a statement issued at the weekend.
Egerton-Idehen’s comment followed her participation in the 12th Regular Meeting of the National Council for Communications, Innovation, and Digital Economy, held in Makurdi, Benue State.
She also emphasized the urgent need for policy action to harness the potential of artificial intelligence.
The meeting was organised by the Federal Ministry of Communications and Digital Economy with the theme “Accelerating the Adoption of Artificial Intelligence through Policy and Innovation for Sustainable Development in Nigeria.”
According to Egerton-Idehen, AI is transforming industries, economies, and societies worldwide, with projections indicating it will contribute up to $15.7 trillion to the global economy by 2030.
Africa is expected to gain $1.2 trillion of this, but only if the right policies and innovations are put in place.
Egerton-Idehen highlighted AI’s transformative potential in agriculture, particularly in Benue State, Nigeria’s “food basket.”
She noted that machine learning tools could revolutionize agricultural practices by improving pest detection and optimizing planting schedules using satellite imagery.
“AI offers us the chance to not only flourish economically but also to achieve food security. However, we must ask ourselves if we are prepared to manage this technology responsibly,” she added.
However, Egerton-Idehen also pointed out that internet access remains a significant barrier to AI adoption in Nigeria. As of early 2024, only 45.5% of Nigerians had access to the internet.
She stressed the need for a coordinated effort to expand access to digital infrastructure while enforcing relevant policies.
“For AI tools to be effective, basic digital infrastructure is essential. Addressing this gap must be a priority,” she said, stressing the need for a coordinated effort to expand access to digital infrastructure while enforcing relevant policies.
Reflecting on the discussions at the meeting, Egerton-Idehen expressed both optimism and urgency, noting the rapid pace of AI advancements globally.
“AI is happening. We have the opportunity to manage this technology revolution responsibly, both in Africa and globally, through innovation and governance,” she said.
The Federal Ministry of Communications, Innovation, and Digital Economy has released a draft National Artificial Intelligence Strategy, aiming to position Nigeria as a global leader in AI.
The draft strategy outlines strategic pillars for responsible AI development and seeks to foster a robust ecosystem for innovation.
This initiative builds on earlier efforts, including the establishment of the National Centre for Artificial Intelligence and Robotics in 2020 and various funding programs for AI research and startups.
While the NAIS is still in draft form, it reflects Nigeria’s commitment to leveraging AI as a transformative tool for economic and social development.
Telecom
Digital Literacy Initiative: NITDA and Ministry of Education Join Forces
As part of its mandate to foster digital literacy, cultivate talents and empower Nigerians with the knowledge and skills needed, the National Information Technology Development Agency (NITDA), has initiated a partnership with the Ministry of Education to revolutionise Nigeria’s educational system.
This visionary effort to integrate digital literacy comprehensively into Nigeria’s educational framework came to light during a courtesy visit to the Honorable Minister of Education, Dr. Maruf Tunji Alausa, by DG NITDA, Kashifu Inuwa and his management team on Friday.
The partnership forms a cornerstone of President Bola Ahmed Tinubu’s Renewed Hope Agenda, an ambitious vision to equip young Nigerians with the critical skills required to thrive in the rapidly evolving digital economy.
This initiative seeks to embed digital literacy across all levels of education in Nigeria, starting from the foundational stages in kindergarten through to secondary schools and tertiary institutions, in order to achieve short-term target of 70% and long-term target of 95% digital literacy by the year 2030
During the meeting, Inuwa underscored the urgency of fostering a digitally literate population, highlighting the potential of digital skills to transform lives and economies.
“The future is digital, and the world is evolving faster than ever. If we are to prepare our youth for tomorrow’s challenges, we must begin with today’s education.
“This collaboration with the Ministry of Education is a bold step toward ensuring that no Nigerian child is left behind in this journey toward global competitiveness and innovation,” he remarked.
According to Inuwa, the initiative aims to bridge the digital divide and ensure that every child in Nigeria is adequately prepared to participate in a global economy increasingly defined by digital transformation.
In his response, Dr. Maruf Tunji Alausa praised NITDA’s forward-thinking approach and affirmed the Ministry’s unwavering support for the initiative. “Education remains the foundation upon which national development is built.
“We are ready partner with relevant stakeholders to embed digital literacy into our educational framework, empower our children with the tools and skills they need to not only adapt to change but to drive it,” he said.
With CISCO, National Board for Technical Education (NBTE), National Universities Commission (NUC), National Teachers’ Institute (NTI), National Mathematical Centre (NMC), Universal Basic Education Board (UBEC), and other stakeholders involved, there is already shared commitment to creating an inclusive and technology-driven educational ecosystem.
This ecosystem will empower young Nigerians to not only consume technology but to innovate, lead, and compete on the global stage as the nation progresses into the Fourth Industrial Revolution.
The collaborative effort is set to tackle various dimensions of digital literacy, ranging from curriculum development to teacher training and capacity building.
It will also involve the deployment of state-of-the-art digital tools and infrastructure across educational institutions.
This holistic approach is designed to provide students with hands-on exposure to technology, encouraging critical thinking, creativity, and problem-solving skills from an early age.
Furthermore, the partnership aims to create a ripple effect that goes beyond the classroom, it sets to empower educators with the requisite skills to teach digital literacy effectively and transform the entire teaching and learning process in Nigeria.
It will also focus on addressing regional disparities by ensuring equal access to digital resources in underserved and rural communities, leaving no child or teacher behind.
The involvement of key stakeholders like CISCO, NBTE, NUC, NTI, NMC, and UBEC further strengthens the initiative.
Their combined expertise and resources will provide a robust framework for implementing the partnership’s goals. From introducing cutting-edge technology in schools to fostering a culture of innovation, the collaboration is poised to redefine what education means in Nigeria.
This initiative aligns with Nigeria’s broader goal of positioning itself as a continental leader in digital transformation and innovation. With technology increasingly shaping the global economy, Nigeria’s youth stand at the forefront of this revolution, ready to harness the opportunities presented by a digital-first world.
The partnership further indicates federal government’s commitment to achieving inclusive and sustainable development through digital literacy, and reshaping the very fabric of Nigerian education, ensuring it aligns with the demands of the modern era.
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