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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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Airtel Nigeria Reinforces Commitment to Youth Empowerment Hosts UNICEF GenU 9JA Steering Committee Meeting

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Airtel Nigeria hosted the 2024 UNICEF Generation Unlimited (GenU) Steering Committee meeting at the Airtel Nigeria headquarters in Banana Island, Lagos, yesterday.

The breakfast meeting served as a collaborative forum, bringing together stakeholders from government, the private sector, and civil society to review GenU 9JA’s progress in providing Nigerian youth with digital learning, upskilling, and pathways to meaningful employment.

In his opening remarks, Chief Executive Officer at Airtel Nigeria, Carl Cruz expressed Airtel’s dedication to supporting the youth. “It is a privilege for Airtel to host this significant meeting and reaffirm our commitment to an initiative that holds the power to transform the lives of millions of young Nigerians.

“By equipping our youth with essential skills and resources, we not only support their individual success but also contribute to Nigeria’s social and economic growth,” he said.

Mr. Cruz further highlighted Airtel’s leadership in providing connectivity for digital learning, noting, “With the support of our UNICEF partners, we have connected 1,260 schools across Nigeria to digital learning, enabling 600 children to access educational platforms like the Nigeria Learning Passport and Yoma Africa.

“This connectivity is not just about internet access; it is about creating an equal playing field for young people, giving them access to quality education and skills essential for their future.”

The event saw participation from a host of other GenU 9JA partners, including IHS Towers, ATC, Unilever, Jobberman, Microsoft, Tony Elumelu Foundation, the Federal Ministry of Education, the Ministry of Youth and Sports Development, GIZ, World Bank, ILO, UNDP, UNFPA, the EU Delegation, and the Government of the Netherlands.

While delivering a report on GenU 9JA digital learning, Director of Corporate Communications and CSR at Airtel Nigeria, Femi Adeniran, reiterated Airtel’s dedication to driving digital inclusion and youth empowerment in support of Nigeria’s socio-economic development.

“For us at Airtel, we are actively involved in connecting schools and advancing digital learning for young Nigerians. Looking back at the debut of our partnership with UNICEF in 2023, we have exceeded our initial expectations in school connectivity, which highlighted the significant gaps in Nigeria’s educational system.

This year, we have made even greater strides and our involvement in initiatives like the Nigeria Learning Passport reflects our commitment to bridging this gap by expanding digital access, fostering learning, and building essential skills nationwide to support young Nigerians,” he said.

“Also, it would interest everyone to know that Airtel Nigeria’s new Home Broadband thematic campaign, ‘Live Limitless’, resonates strongly with the GenU 9JA ‘We No Get Limit’ motto, which underscores our dedication to empowering young Nigerians to unlock their full potential without barriers.

This commitment drives us to continue creating and promoting opportunities that equip the youth for a brighter future” he added. The GenU Steering Committee meeting served as a valuable platform for Airtel and other partners to deepen their commitment to the GenU 9JA mission.

By fostering collaboration and driving impactful initiatives, Airtel demonstrates its corporate social responsibility by actively contributing to programs that uplift Nigerian youth and promote sustainable development across the nation.

 


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Zarttalent Foundation’s Summit Prepares Nigerian Youth for Global Tech Careers

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Zarttalent, a foundation dedicated to advancing digital literacy and tech education in Nigeria, hosted the How to Win With Tech Summit on October 17, 2024.

The event brought together students, educators, tech enthusiasts, and influential leaders for a day focused on the power of technology in shaping the future.

Notable guests included Sonia Onovughakpo Fajusigbe, Policy Advisor Entrepreneurship Youth Employment & Healthcare, Consulate General of the Netherlands in Lagos, and Elizabeth Owei-Oladepo, Youth Advisor at the Consulate General of the Netherlands in Lagos.

Their presence, along with teachers, principals, media representatives, and Zarttalent partners, highlighted the importance of collaborative efforts in driving tech innovation and education.

Opening the summit, Nelson Ajulo, Chief Executive Officer of Zarttalent, delivered a keynote address titled “The Power of Technology in Today’s World.”

He highlighted the role of technology in generating employment opportunities and creating global pathways for Nigerian talent. In addressing Nigeria’s high youth unemployment rate, Nelson emphasized Zarttalent Foundation’s commitment to equipping young people with in-demand tech skills that align with global industry needs.

“The goal of education is to prepare students with skills for a meaningful livelihood. Yet, the challenge in Nigeria is a misalignment between university training and the skills required by today’s economy, contributing to the high unemployment rate.

By introducing relevant, in-demand tech skills, Zarttalent empowers young Nigerians to go beyond the standard curriculum and gain expertise that sets them apart in a rapidly digitizing world,” he stated.

Sonia Onovughakpo Fajusigbe, Policy Advisor Entrepreneurship Youth Employment & Healthcare, Consulate General of the Netherlands in Lagos, delivered a compelling address titled “Leveraging Technology for Youth Empowerment and Entrepreneurship.”

She outlined the potential of tech-based skills to empower Nigerian youth to not only secure employment but also become problem-solvers in their communities. Fajusigbe encouraged the attendees to look beyond traditional jobs and consider digital entrepreneurship as a means to tackle local challenges and boost economic growth.

Fajusigbe’s keynote on technology as a tool for youth empowerment and entrepreneurship offered practical strategies for harnessing technology to create meaningful change. Her session encouraged students to see themselves as future innovators who can leverage tech to build a better society.

This landmark event is part of the foundation’s ongoing effort to empower the Nigerian youth and address its high youth unemployment rate by creating access to digital skills and mentorship.

The foundation aims to empower over 5,000 students over the next five years, equipping them with competitive tech skills that will translate into job opportunities, entrepreneurship, and solutions to real-life issues.

With Nigeria’s youth unemployment rate at record levels, the event focused on building sustainable career pathways and preparing a generation ready to thrive in a tech-driven economy, where digital skills are increasingly essential.


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SiBAN President Urges Nigeria to Embrace Bitcoin Strategy Amidst Global Crypto Surge

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Obinna Iwuno, President of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has urged the Nigerian government to consider a national Bitcoin strategy in light of the recent global surge in cryptocurrency adoption, particularly following the election of Donald Trump, a pro-crypto US President.

Iwuno believes that the new US administration’s stance on cryptocurrencies, coupled with global economic trends, presents a unique opportunity for Nigeria. He argues that a strategic approach to Bitcoin can lead to significant economic benefits for the country

Such benefits, according to him include increased wealth where Nigerian traders could profit from the expected rise in cryptocurrency prices, potentially hedging against domestic inflation.

Other benefits are economic growth, which will present a thriving domestic crypto ecosystem that could generate jobs and stimulate economic activity and financial inclusion, where cryptocurrencies, particularly stablecoins pegged to the Naira, could provide financial services to underserved populations.

Meanwhile, to capitalize on this opportunity, Iwuno proposes several steps:

  • Regulatory Clarity: The Nigerian government should provide clear and supportive regulations for the cryptocurrency industry.
  • National Bitcoin Strategy: A comprehensive national strategy should be developed to guide policymaking and industry development.
  • Bitcoin ETF: The Nigerian capital market could explore the possibility of launching a Bitcoin exchange-traded fund (ETF).
  • Stablecoin Development: The government should encourage the development of stablecoins backed by the Naira.

Iwuno’s call to action comes as the global cryptocurrency market continues to experience significant growth. With major economies embracing digital assets, Nigeria stands to benefit from early adoption and strategic planning.


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