Telecom
IFC Invests in Liquid Telecom Bond to Support Broadband Connectivity in Africa
IFC, a member of the World Bank Group, invested in Thursday’s bond issued by a subsidiary of Liquid Telecommunications Holdings Ltd., which will allow the telecoms and technology solutions company to expand access to broadband Internet and digital and cloud services across Africa, further facilitating the growth of the continent’s digital economy.
Proceeds from the bond issued by Liquid Telecommunications Financing PLC, a wholly-owned subsidiary of Liquid Telecommunications Holdings Ltd, will enable the company to refinance existing debt and free up funds to expand its digital infrastructure network across Africa, including in markets with low broadband penetration.
By developing digital infrastructure, Liquid Telecommunications, Africa’s largest independent fiber, data center and cloud technology provider, aims to increase digital connectivity and inclusion in Africa and support the region’s growing digital ecosystem.
IFC played an anchor role and subscribed to 16 percent of the bond, equivalent to $100 million, which was listed on Euronext Dublin, Ireland’s main stock exchange, on February 25, 2021. The issuance raised $620 million.
Internet access in Africa relies largely on mobile networks, many of which are enabled by wholesale connectivity providers such as Liquid Telecommunications. Broadband penetration is low across the continent, with a mobile broadband penetration rate of 34 percent and fixed broadband penetration of less than five percent in most countries across sub-Saharan Africa, excluding South Africa.
“We are delighted that IFC has taken a significant anchor position in our new bond. In the countries in which we operate there are great opportunities to address under developed telecommunications and Internet access, as well as to accelerate the adoption of digital and Cloud-based services.
“Our refinance enables us to continue to invest in the African digital eco-system including driving penetration of digital and Cloud-based services to businesses who may not previously have had the resources to benefit from them, helping to bridge the connectivity divide, which is more crucial than ever in our current circumstances,” said Nic Rudnick, Liquid Telecom Group Chief Executive Officer.
“Our best chance at ensuring much-needed internet access for everyone in Africa, from large corporates and small businesses to individuals, is to invest in digital infrastructure. Our investment in the Liquid Telecom bond will help the company free up capital to further expand broadband access across Africa, laying a solid foundation for a faster, more resilient recovery,” said Stephanie von Friedeburg, Interim Managing Director and Executive Vice President, and Chief Operating Officer of IFC.
To support Africa’s digital economy, which could be worth $180 billion by 2025, IFC provides financing to mobile network operators, independent tower operators, data centers and broadband connectivity providers. IFC also provides capital to help entrepreneurs and innovative businesses grow and works with financial institutions and telecommunications companies to speed the adoption of digital payments and lending to expand financial inclusion.
Federal government has unveiled an ambitious plan to deploy 7,000 telecommunications towers across the country, with 80 per cent allocated to Northern Nigeria to address the region’s acute connectivity deficit.
The federal executive council had already approved the 7,000 towers project by March 2025 to support digital transformation and 5G rollout, with formal rollout scheduled to begin in the fourth quarter of 2025.
The project’s first tower will be installed next week in a rural Abuja community of 5,000, where insecurity compounds connectivity challenges.
Unlike conventional masts, these towers will double as digital hubs, providing internet to schools, hospitals, and local government offices.
“Most of these clusters are in the North. That’s the reality. There are a few clusters in the South-West, you know, that are not connected, but the bulk of the clusters are in the North, Bosun Tijani, minister of Communications and Digital Economy, told TVC recently.
He continued, “So, almost 80% of these towers will be going towards filling that gap in the North. The rest will now patch up where we have left off.
“Unlike traditional telecom masts, they will deliver internet to local schools, hospitals, and government offices, maximising their impact. Wherever we put them, we use the same infrastructure to serve the community.”
Tijani highlighted a collaborative model where mobile network operators will connect to the towers’ cables, reducing redundancy and optimising resources.
Nigeria’s digital landscape remains uneven.
As of January 2025, 128.3 million Nigerians, 54.3 per cent of the population, lack internet access, ranking the country fourth globally for unconnected populations.
Broadband penetration stands at 48 per cent, with over 50 per cent of Nigerians living there, facing significant barriers, including unreliable electricity and low digital literacy.
Progress has been made, with the number of people in unserved and underserved areas falling from 36.8 million in 2013 to 23 million in early 2025, yet the connectivity gap remains a formidable challenge.
The 7,000-tower initiative, distinct from the separate Project 774, forms part of a broader strategy that includes satellite technology, such as Starlink, and fibre-optic cables, which Tijani described as the backbone of reliable connectivity in advanced markets.
The government’s focus on the North reflects the region’s disproportionate share of unconnected communities, while the project’s design aims to address both digital and security challenges.
Engr. Ikechukwu Nnamani, CEO of Digital Realty, West Africa’s leading interconnected data center facility, has been recognized for his outstanding contributions to Nigeria’s digital economy and the broader African ICT landscape.
L-R: Mr. Ken Nwogbo, Publisher and Editor-in-Chief of CommunicationsWeek Media, Editor Engr. Ikechukwu Nnamani, CEO of Digital Realty and Dr. Muhammed Rudman, Chief Executive Officer, Internet Exchange Point of Nigeria (IXPN) at the 2025 Africa’s Beacon of ICT (ABoICT) Merit and Leadership Awards, organized by Communications Week media.
At a ceremony in Lagos, Nnamani was named among the Top 50 Most Valuable Personalities in Nigeria’s Digital Economy by KnowHow Media.
According to the organizers, this recognition reflects his unwavering commitment to innovation within Africa’s tech ecosystem.
Segun Oruame, Vice-Chairman of KnowHow Media, emphasized Nnamani’s significant impact on Nigeria’s ICT landscape, highlighting his role in advancing the country’s digital economy.
Adding to his accolades, Nnamani was also honored with the ICT Growth Impact Award in Data Centre Infrastructure at Africa’s Beacon of ICT (ABoICT) Merit and Leadership Awards, hosted by Nigeria Communications Week.
This award acknowledges his instrumental role in developing telecom and ICT infrastructure across multiple African nations, including Ghana, Togo, Liberia, Sierra Leone, Ivory Coast, Senegal, Kenya, Uganda, and Angola.
Expressing gratitude for the recognitions, Nnamani dedicated the awards to his team at Digital Realty, acknowledging their continuous support.
He reaffirmed his commitment to fostering industry growth and driving innovation across Africa.
Telecom
SBTS Group CEO Evelyn Lewis Named Among Nigeria’s Top 50 Digital Economy Leaders for Youth-Focused Tech Initiatives
Evelyn A. Lewis, CEO of SBTS Group, has been named one of Nigeria’s “50 Most Valuable Personalities in the Digital Economy” by IT Edge News.Africa, recognizing his visionary leadership in digital transformation, innovation, and youth empowerment.
Presented during the “Nigeria: State of the Digital Economy 2025” colloquium and awards ceremony in Lagos, the recognition highlights Lewis’s role in shaping Nigeria’s digital future. The high-profile event, organized by Knowhow Media (publishers of IT Edge News.Africa), brought together top policymakers, digital innovators, and ecosystem enablers across public and private sectors.
At the center of Lewis’s recognition is his commitment to building Africa’s digital economy through skills and job creation. Under his leadership, SBTS Group—in collaboration with the Digital Bridge Institute (DBI)—is implementing an ambitious plan to:
- Train 5 million Nigerian youths
- Create 50,000 digital jobs by 2030
This initiative aligns with Nigeria’s National Digital Economy Policy and Strategy (NDEPS) and the Federal Government’s 3 Million Technical Talent (3MTT) program.
SBTS Group’s proprietary Intelligent Capacity Building Model (ICBM), developed under Lewis’s leadership, is at the core of this effort. The model closes the gap between digital training and employment, offering career-focused tracks in:
- Cybersecurity
- Software Development
- Artificial Intelligence (AI)
- Business Process Outsourcing (BPO)
- Digital Entrepreneurship
ICBM is currently being rolled out across DBI campuses nationwide, forming a scalable framework for skills development.
SBTS and DBI will kick off the next phase of their national rollout with new training and BPO centres in Abuja and Enugu, scheduled for launch in June 2025. These centers are expected to create over 5,000 jobs in their first phase, acting as blueprints for replicable, sustainable digital employment hubs nationwide.
Beyond training, SBTS has also built a national unified digital learning and registration platform for DBI. The system integrates national identity tools such as NIN and BVN, supports student sponsorships, facilitates enterprise partnerships, and enables career tracking—laying a foundation for a data-driven, transparent digital skills ecosystem.
“This award reaffirms our commitment to building Africa’s digital economy from within,” said Evelyn Lewis. “At SBTS Group, we believe that human capital is Africa’s greatest asset. By empowering our youth, we’re investing in a future where Africa leads in innovation and competitiveness.”
The 50 Most Valuable Personalities (50MVPs) initiative annually celebrates visionary leaders accelerating Nigeria’s digital transformation. The 2025 edition recognized contributors across tech, governance, and entrepreneurship under the theme:
“Accelerating Nigeria’s Digital Transformation: Insights on Challenges and Emerging Opportunities.”
Other 2025 honourees include:
- Obadare Peter Adewale, CVO, Digital Encode
- Nentawe Yilwatda, Minister of Humanitarian Affairs & Poverty Reduction
- Ayọ̀wándé Àdalémọ, CEO, Wave5Wireless
- Krishnan Ranganath, Regional Executive, West Africa & Morocco – Africa Data Centres (ADC)
- Ike Nnamani, CEO, Digital Realty
- Daser David, President/CEO, Digital Bridge Institute
- Suleiman Isah, Commissioner for Communications Technology & Digital Economy
- Shuaibu Kabir Bello, CEO, KMDC
- Olawole Owoeye, Co-founder, Cedarview Communications
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