Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

General News

Convergence Partners Accelerates ICT Development via Infrastructure Fund

Published

on

Andile Ngcaba, chairman of Convergence Partners
Kindly share this post

Convergence Partners – an investment management firm focused on the telecommunications, media and technology sector in Africa yesterday announced the launch of the Convergence Partners Communications Infrastructure Fund (CPCIF), the only infrastructure fund that is dedicated solely to the information and communications technology (ICT) sector in Africa.

With a first close of $145 million, it is one of the largest African based infrastructure funds, notwithstanding its single sector focus.

CPCIF, which has a targeted final close of $250 million, aims to invest in communications infrastructure and related services and technologies across sub-Saharan Africa, with a clear focus on future investments and development in West Africa.

Convergence Partners further plans to set up a West African office within the next year. The Fund expects to generate significant returns for investors, while also enabling ICT-driven socio-economic development.

CPCIF reached its first close with capital commitments from the following investors: Convergence Partners (as sponsors), the International Finance Corporation (IFC), the European Investment Bank (EIB), the Dutch Development Bank (FMO), the Development Bank of Southern Africa (DBSA) and the CDC Group (CDC).

“As specialist ICT investors and innovators, Convergence Partners is dedicated to accelerating investment capital, digital access and ICT infrastructure development on the continent,” said Andile Ngcaba, chairman of Convergence Partners.

“As a result, we focus strongly on initiatives that increase the availability of communications, broadband services and new technology offerings to African people. The launch of this Fund will enable us to achieve these objectives on a greater scale.”

The African ICT sector has seen significant growth and is a catalyst for economic development.

According to a recent McKinsey report, increased use of the Internet in Africa could result in a contribution of $300 billion a year to the continent’s gross domestic product (GDP) by 2025.

However, the infrastructure to deliver these services remains significantly underdeveloped. The upgrading, management and ownership of existing and new infrastructure by specialist owners with private capital provides the investment opportunity for CPCIF to achieve its financial and developmental goals.

Convergence Partners’ founders are seasoned pan-African private equity players, experienced in developing value-add investments that deliver shareholder returns whilst underpinning continental transformation.

Convergence Partners has invested in various landmark African transactions, which have brought cost effective broadband services to underserved African markets.

The Fund is committed to facilitating regional ICT infrastructure and integration, ultimately fostering the advancement of a sustainable and more prosperous Africa.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

General News

MTN Nigeria Takes Go MAD Campaign to The Entrepreneurial Hub of Aba

Published

on

Kindly share this post

MTN Nigeria is set to bring its Go Make A Difference (Go M.A.D) campaign to Aba, Nigeria’s renowned enterprise hub, on Sunday, March 23, at Sugarland, Luxury City Hotel.

This initiative continues MTN’s mission to inspire Nigerians to take deliberate steps toward community development and digital empowerment.

Speaking with the press at the campaign launch, Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria, shared the inspiration behind the Go M.A.D initiative. “At MTN, we believe in driving progress, giving our customers the power to rise above challenges and create something extraordinary. The Go M.A.D campaign is rooted in the belief that MTN data gives you the power to take on the world, to achieve the extraordinary, and to make a meaningful difference, in your community, your family, and your workplace. It’s our way of saying: we see you, we support you, and we’re here to make your journey better.”

Following exciting stops in Abuja, Enugu, Calabar, Ibadan, and most recently Benin, the campaign now heads to Aba with a promise to spotlight the city’s rich entrepreneurial spirit and creative talent.

In Aba, attendees can expect a thrilling fusion of technology, entertainment, and culture, with augmented and virtual reality zones, a flash mob, interactive games, special guests and inspiring real-life stories. The event will also feature Kahoot trivia games, a Go MAD puzzle, a pledge wall, and giveaways of MTN-branded merchandise and digital devices.

A highlight of this event will be the Talent Showcase, dedicated to spotlighting Aba’s emerging creatives and innovators. This platform provides local talents the opportunity to share their creative skills and connect with a broader audience.

Set against the backdrop of Aba’s reputation as a powerhouse of local industry and innovation, the event will celebrate individuals, known as Go MAD Icons, who are making a difference through MTN Data by driving social impact, growing businesses, or sharing knowledge digitally. These icons will serve as powerful reminders of what’s possible when creativity meets connectivity.

As with the previous activations in Abuja, Enugu, Ibadan, Calabar and Benin, cultural expression will remain central to the experience, with performances and installations that pay homage to the Igbo culture while encouraging young people to take positive action in their communities.

MTN’s Go MAD campaign is not just a series of events; it’s a national call to action. By merging storytelling, digital experiences, and grassroots inspiration, the campaign continues to engage Nigeria’s youth and highlight how technology can be a force for change.


Kindly share this post
Continue Reading

General News

Dolphin Estate Goes Pro as FXTM Hosts Lagos Monthly Crit

Published

on

Kindly share this post

Cyclists, have the opportunity to gear up for an unforgettable racing experience! On Saturday, April 19th, FXTM proudly sponsors the Lagos State Monthly Crit at Dolphin Estate, Ikoyi – an event that promises speed, endurance, and the thrill of competition.

The day kicks off at 6:30 AM sharp with registration, setting the stage for an adrenaline-fueled main race starting at 7:30 AM. Over the course of four intense hours, cyclists will go head-to-head across three exhilarating categories: Professional, Junior, and Veteran. And for the champions? A cash prize starting at ₦800,000 awaits – a true reward for those who dare to push their limits.

It’s not just about the race – it’s about the experience. Expect a vibrant atmosphere with refreshments, music, and the perfect opportunity to mingle with like-minded cycling enthusiasts. Whether you’re a racer or a spectator, there’s something for everyone to enjoy.

Kelechi Ehibudu, Country Representative for FXTM, said said: “At FXTM we believe in unlocking potential and empowering individuals with ‘the freedom to succeed.’ Cycling, as a sport, perfectly captures this value – the freedom to ride, to push boundaries, and to achieve greatness. This event is part of FXTM’s global commitment to promoting fitness, well-being, and community engagement.

“We’re thrilled to bring this spirited race to Lagos. Cycling is not just a sport – it’s a celebration of determination, endurance, and the unyielding drive to succeed. It perfectly resonates with our mission to empower people to achieve their goals, both in trading and in life.”

The Lagos Monthly Crit is more than just a race – it’s a celebration of freedom, fitness, and community unity. Whether you’re competing for the prize or simply soaking in the energy of the event, this is an experience you won’t want to miss.


Kindly share this post
Continue Reading

General News

QNET Denies Fraud Claims, Pledges Cooperation with EFCC Investigation

Published

on

QNET
Kindly share this post

QNET, a globally recognized lifestyle and wellness direct-selling company, strongly refutes allegations linking it to fraudulent activities following a recent operation by the Economic and Financial Crimes Commission (EFCC) Kaduna Zonal Directorate in Minna, Niger State.

The EFCC arrested 28 individuals allegedly involved in Ponzi schemes, claiming they operated from a three-bedroom apartment in Al-Bishiri Estate and were linked to QNET.

We categorically deny any association with these individuals or their illicit activities.

While the EFCC reported recovering QNET application forms and documents during the operation, we assert that these materials are likely forged or fraudulent, as QNET’s business operates exclusively on an e-commerce platform and does not utilize physical application forms.

These items were clearly misused by unauthorized parties exploiting our brand. QNET operates a legitimate and ethical direct-selling business model, empowering independent representatives to promote high-quality wellness and lifestyle products.

As a global leader in the direct-selling industry since 1998, QNET adheres strictly to local and international regulations, maintaining the highest standards of compliance and integrity.

Statement from QNET Leadership

Biram Fall, Regional General Manager for Sub-Saharan Africa, addressed the allegations: “We are deeply concerned by the rising trend of scams falsely linked to QNET, including fake investment schemes and fraudulent job offers.

“These malicious acts not only damage our reputation but also harm unsuspecting individuals by eroding their trust and finances.

“QNET condemns all fraudulent activities and is fully committed to working with authorities to ensure justice is served.

“We urge the public to remain vigilant and verify all QNET-related opportunities through official channels to avoid falling victim to such deceptive practices.”

QNET’s Ongoing Commitment to Anti-Fraud Advocacy

Since entering Nigeria in 2022 through our local partner Transblue Nigeria Limited, QNET has prioritized financial literacy and consumer protection.

In November 2023, we launched the Say NO! campaign to educate the public about scams and Ponzi schemes, collaborating with key stakeholders such as the Lagos State Consumer Protection Agency (LASCOPA) and the Federal Ministry of Labour and Employment.

This initiative has reached thousands across Nigeria and neighboring countries like Senegal and Burkina Faso through multilingual billboards, radio campaigns, educational pamphlets, and social media outreach.

These efforts underscore our dedication to empowering communities with the knowledge to distinguish legitimate QNET services from fraudulent schemes.

Full Cooperation with Law Enforcement

QNET is committed to supporting the EFCC’s investigation into this matter. We are actively cooperating with authorities to clarify the misuse of our brand and ensure that those responsible for these fraudulent activities are brought to justice. We encourage anyone with information about this case to come forward and assist in the investigation.

Public Advisory: How to Stay Safe

To protect yourself from scams misusing QNET’s name, we advise the following:
● Verify all information about QNET through our official website: www.qnet.net.
● Report suspicious activities to our dedicated team at network.integrity@qnet.net or via our WhatsApp hotline at +233256630005.
● Learn more about identifying and avoiding scams at www.saynocampaign.org

QNET remains steadfast in upholding the highest ethical standards in direct selling.

We call on the media and the public to verify facts before associating QNET with unverified claims, as such misinformation can unfairly damage our reputation and the trust of our stakeholders.

For further details about QNET’s business, products, and anti-fraud initiatives, please visit www.qnet.net.


Kindly share this post
Continue Reading

Trending