Telecom
IFC Invests in AXIAN Telecom Bond to Support Digital Connectivity in Africa

To scale up access to quality mobile connectivity for millions of individuals and businesses across Africa and to further support the continent’s digital economy, IFC has invested in a maiden bond issuance by AXIAN Telecom.
The bond, the first issued by AXIAN Telecom, will refinance the company’s existing debt and support its digital infrastructure network expansion, primarily in Tanzania and Togo.
By scaling up its digital infrastructure, AXIAN Telecom will continue to promote Africa’s growing digital economy and digital finance by bringing accessible, reliable and secure digital services in markets where access to affordable, quality mobile connectivity remains challenging.
IFC subscribed to 12 percent of the bond (equivalent to $50 million) as an anchor investor in a total issuance of $420 million.
“IFC’s anchor investment will help us fulfill our ambition to be an end-to-end partner in Africans’ digital transformation journey and to secure their affordable access to digital infrastructure and services,” said Hassanein Hiridjee, AXIAN Telecom’s Founder and Chairman of the board.
“With internet access in Africa largely relying on mobile networks, providing affordable and reliable mobile connectivity is an important way to bridge the digital divide,” said Makhtar Diop, IFC’s managing director. “IFC’s investment in AXIAN Telecom’s bond is consistent with the World Bank Group’s efforts to establish a more competitive and reliable telecommunications sector as part of the Digital Economy Initiative for Africa (DE4A), which aims to support the African Union (AU) digital transformation strategy for Africa.”
African countries, on average, spend about 1.1 percent of GDP annually on investments in digital transformation, including digital infrastructure, compared to 3.2 percent for developed countries.
Capital markets are critical for filling the infrastructure investment gap in emerging and developing markets. Since 2019, IFC has supported digital infrastructure and other infrastructure companies with public bond issuances totaling over US$3 billion with more than US$500 million of IFC’s own funds and by mobilizing an additional US$2 billion in capital.
AXIAN Telecom represents IFC’s second recent bond investment in Africa’s digital economy. This investment follows IFC’s participation in a bond issued by Liquid Intelligent Technologies, Africa’s largest independent fiber, data center and cloud technology provider.
IFC is also an active investor globally in green and sustainability-linked bonds including Continuum Green Energy’s first green bond and IFC’s first sustainability-linked bond investment with Sembcorp.
Surging demand for digital connectivity during the COVID-19 pandemic led IFC’s commitments to the telecoms, media and technology sector in emerging markets to exceed US$1 billion in the fiscal year ending June 2021. Almost three-quarters of the commitments were made in Africa.
Telecom
Equinix Expands Digital Footprint in Nigeria with Launch of LG2.3 Data Center

Equinix, Inc. the world’s digital infrastructure company™, has officially opened its latest data center expansion in Lagos. Called LG2.3, the facility will support Nigeria’s growing digital transformation efforts, providing state-of-the-art colocation and secure interconnection solutions which will empower businesses across the region.
It also signifies Equinix’s unwavering dedication to advancing Nigeria’s position in the global digital economy, reinforcing the company’s commitment to the region.
As part of the inauguration, Bruce Owen, President of EMEA at Equinix, along with other Equinix executives, led the ribbon-cutting ceremony at the newly expanded site. In addition to an official visit to the Governor of Lagos State, Equinix hosted an exclusive customer engagement event, bringing together key customers and partners from Nigeria’s business and technology sectors.
Attendees discussed shared successes and Equinix’s role in facilitating digital transformation, while also connecting directly with Bruce Owen for insights into how Equinix’s solutions drive innovation and business agility in the region.
Equinix executives also took part in a tree-planting ceremony, symbolising Equinix’s continued investment in sustainable initiatives across the globe and highlighting the company’s broader goal of reducing its carbon footprint while supporting greener practices across its operations worldwide.
Speaking about the expansion, Bruce Owen, President of EMEA at Equinix said “Nigeria is a crucial market for Equinix. Today’s opening is a clear demonstration of our continued commitments to invest and grow digital infrastructure that will benefit the many thousands of businesses in Nigeria and on the continent as a whole.
“I am deeply encouraged by the enthusiastic partnerships and innovations emerging from this dynamic region, which continue to inspire our commitment to Nigeria’s digital and sustainable future.”
Adding to this, Wole Abu, Managing Director of Equinix West Africa, highlighted the critical role of data centers in driving economic growth stating “Data centers continue to play a pivotal role in driving economic development in Nigeria, serving as critical infrastructure that supports digital transformation and economic growth.
“As governments and enterprises increasingly acknowledge their significance, global demand for data center capacity is poised to rise. While Africa’s demand for data solutions is still evolving compared to more mature markets, the continent is demonstrating strong potential for digital adoption and innovation.
“To meet this growing need, Equinix is actively advancing three major data center projects in Nigeria, with future expansion plans for Ghana, Côte d’Ivoire, and South Africa.”
Equinix remains steadfast in its mission to enable secure, scalable, and sustainable digital growth for economies across the world.
Telecom
African Women Hit Hardest as Mobile Internet Gender Gap Persists

African women remain among the most digitally excluded globally, with smartphone affordability and digital literacy among the key barriers. New data from the 2025 GSMA Mobile Gender Gap Report, launched recently, reveals a persistent global gender gap in mobile internet use across low- and middle-income countries (LMICs).
It further notes that literacy, digital skills, safety, and affordability of data also remain critical barriers. The report highlights that 885 million women across these regions still do not use mobile internet, with nearly 60% of them living in Sub-Saharan Africa and South Asia.
While mobile internet is the primary way women in LMICs access the internet, offering critical lifelines to health, education, and financial services, the pace of female adoption has stalled, leaving 235 million fewer women than men connected.
Claire Sibthorpe, head of digital inclusion at GSMA, highlighted that the gender gap had narrowed significantly between 2017 and 2020, but progress flatlined in recent years.
Although 2023 brought a slight improvement, restoring the gap to 15%, 2024 saw minimal change, with the gap settling at 14%.
The disparity is most severe in Sub-Saharan Africa, where women are 29% less likely than men to use mobile internet.
“It’s disheartening that progress in reducing the mobile internet gender gap has stalled. The digital divide is driven by deep-rooted socio-economic and cultural factors that disproportionately impact women,” said Sibthorpe.
GSMA projects that closing the gender gap by 2030 could add $1.3 trillion to GDP across LMICs and deliver $230 billion in revenue to the mobile industry.
The report, funded by the UK FCDO, Sida, and the Gates Foundation, stresses the urgent need for targeted investment and policy action to bridge the digital divide and ensure that no woman is left offline.
“The mobile internet gender gap is not going to close on its own. It is driven by deep-rooted social, economic, and cultural factors that disproportionately impact women,” said Sibthorpe.
Telecom
₦800 Billion Infrastructure Plan Set to Boost MTN’s Network Quality Nationwide

In a recent interview, MTN Nigeria reaffirmed that its ongoing infrastructure investment is a strategic step to improve network quality, speed, and nationwide coverage.
Speaking on Beyond the Headlines with Nifemi Oguntoye, Ugonwa Nwoye, Chief Customer and Experience Officer at MTN Nigeria, explained that although public concern is valid, the company undertook several internal cost-efficiency measures before making structural adjustments.
She emphasised that improved investment is critical to fast-tracking improvements across MTN’s network.
Nwoye explained that MTN undertook extensive internal reforms before embarking on structural changes needed to support this scale of investment.
The company completed its phased roll-out of the increase between February and March, ensuring that every existing data plan was below the 50% increase, and most remained below 25%.
She also noted that customers were proactively informed about all changes, particularly when certain legacy plans were retired and replaced with new ones. “We gave customers six to eight weeks’ notice,” she explained.
“This is why it has taken us some time to complete this process, where we let customers know that at a certain date, this particular tariff is not going to exist.”
Nwoye stressed that MTN had exhausted other internal measures before turning to broader structural updates. Now, with the new pricing structure in place, the company is accelerating its investment in infrastructure, spending over ₦200 billion in the first quarter of 2025 alone, a 159% increase from the same period last year. A total capital expenditure of ₦800 billion is planned for the year.
She noted that this investment is a direct outcome of long-term operational restructuring aimed at improving service quality.
She added, “We are investing over ₦800 billion this year alone in our infrastructure. This will translate into better customer experience, reduced congestion, faster internet speeds, and wider network reach.”
This investment will support the upgrade of over 1,000 cell sites and the expansion of more than 2,000 transmission links nationwide.
Nwoye stressed that these upgrades are designed to deliver faster data speeds, fewer dropped calls, and broader network reach, especially in underserved areas.
She acknowledged the public’s expectations for immediate service improvements but emphasised that large-scale infrastructure takes time to deploy.
Nonetheless, MTN expects customers to begin experiencing visible improvements in network performance by the second half of the year.
In a sector where service quality and customer satisfaction are closely watched, MTN maintains that its ongoing investments are not merely capital commitments but vital enablers of improved digital experiences across Nigeria.
- Telecom3 days ago
₦800 Billion Infrastructure Plan Set to Boost MTN’s Network Quality Nationwide
- News3 days ago
Creative Economy Ministry Secures $300M Investments Commitment
- E-Business3 days ago
NITDA, CISCO Empower Youth with Digital Skills
- E-Financial3 days ago
Fidelity Bank reclaims trillion-naira market cap as stock rises to ₦21
- Telecom3 days ago
African Women Hit Hardest as Mobile Internet Gender Gap Persists
- General News3 days ago
NITDA DG says its Community IT Centres Should be a Catalyst of Change
- Telecom3 days ago
Remita’s Bold Leap: Nigeria’s Fintech Giant Expands Across Africa
- E-Financial3 days ago
Kuda Co-founder Urges Young Developers to Build Tech with Purpose @NACOSS 2025