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IFC Invests $100m in Liquid Telecom Bond for Broadband Connectivity in Africa

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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.   

 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.

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.
 

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.  
 

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IT and Telecomms

Africa’s Smartphone Market Surpasses Feature Phones for the First Time in Q1 2024

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Africa’s smartphone market showed remarkable resilience in the face of macroeconomic challenges and forex issues in Q1 2024, with shipments increasing 17.9% year on year (YoY) to reach 20.2 million units.

That’s according to the latest insights from International Data Corporation (IDC), with the firm’s newly released Quarterly Global Mobile Phone Tracker showing that feature phone shipments declined 15.9% over the same period to total 18.8 million units. This marks the first quarter where smartphone shipments have surpassed feature phone shipments in Africa, highlighting a clear transition toward smartphones across the region.

“South Africa experienced healthy YoY growth in Q1 2024, driven by the rising popularity and availability of competitively priced Chinese brands with advanced features,” says Arnold Ponela, a senior research analyst at IDC. “Meanwhile, Nigeria saw robust growth fueled by the success of Transsion brands and Xiaomi, particularly in the entry-level segment, which significantly boosted shipments. Kenya further strengthened its position as the third-largest smartphone market in Africa in Q1 2024, with innovative financing models like Mkopa driving sales growth.”

In Q1 2024, Transsion brands (Tecno, Itel, Infinix) maintained their leading position in terms of smartphone market share, driven by their compelling entry-level device portfolio tailored to the African market. However, Samsung and Xiaomi gained market share on the previous quarter, driven by mid-range ($200<$400) models. Overall, shipments of smartphones in this price range increased in Q1 2024, while shipments of <$100 devices declined, indicating a growing consumer preference for feature-rich models.

Looking at 2024 as a whole, IDC expects Africa’s smartphone market to see shipments increase 5.7% YoY, with a sustained upward trajectory for the next five years. “Africa remains a market with a high share of feature phones, although they are expected to gradually decline as the transition to smartphones gains momentum,” says Akash Balachandran, a research manager at IDC. “This shift, coupled with rising demand, will be the key driver of overall growth in the smartphone market. Persistent inflationary pressures and escalating macroeconomic uncertainties may cause short-term fluctuations but will not impede the long-term transition.”

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Innovations

How Tech Enthusiasts Can Garner In-Demand Skills in 2024

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In almost every circle, you will find a tech-bro, tech-sis, or tech enthusiast diligently refining their skills, aspiring to secure dream tech jobs that promise financial success and elevated social status.

What was once considered a niche has now evolved into a revered profession, capturing the interest of today’s youth.

The growing interest in the tech industry has prompted enthusiasts to look for the best methods and resources to acquire the skills needed to succeed in this dynamic field. Are you among those eager to acquire these sought-after tech skills? Here are four ways to do it.

Join networks and communities: Tech enthusiasts are encouraged to join communities, attend meetups, or participate in hackathons. These activities provide valuable networking opportunities with other tech enthusiasts and industry experts. You can gain insights, guidance, and support to advance your tech skills by engaging in these events. Additionally, networking can open doors to job opportunities and collaborative projects.

Engage in Hands-On Projects: Creating projects is an excellent way to strengthen your tech skills. You can build a website, develop a mobile app, or work on a data analysis project, leveraging open-source projects. The more you practice, the more your knowledge expands, allowing you to gain expertise even with initial setbacks or roadblocks.

Get an Industry Mentor: Another way to garner tech skills is to learn directly from an expert. A mentor can offer personalised advice, share industry insights, and provide support as you navigate your career path. Look for mentors who align with your career goals and values, and actively engage with them to maximise the benefits of mentorship.

Enroll in Tech Academy Programs: Whether physical or virtual, institutions and reputable platforms offer In-demand tech courses one of which is the Zarttalent Academy. The Zarttalent Academy provides diverse tech courses in Frontend Engineering, Backend Engineering, Project Management, and Product Design. In addition to a comprehensive learning experience, the academy awards students who complete the programs with globally recognised certificates. Graduates enjoy additional benefits such as international internship opportunities, access to global mentors, international job opportunities, and dedicated career support services.

Technology has become an essential part of our daily lives and no one can do without it. Acquiring in-demand tech skills can help you stay ahead of the curve and give you a competitive edge in the job market.

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Training and e-Learning

Airtel Boosts NIPR Public Relations Week with Onsite Data Connection

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Airtel Nigeria has collaborated with the Nigeria Institute of Public Relations (NIPR) to provide with unlimited internet access at the institute’s inaugural edition of the Nigeria Public Relations Week.

The trailblazing event themed ‘Leveraging Public Relations as a Critical Asset for Nigeria’s Economic and Reputation Renaissance’ is set to run from Monday, April 22nd to Friday, April 26th, 2024, and will welcome thousands of delegates across Nigeria to the prestigious June 12 Cultural Centre, nestled in the heart of Abeokuta, the Ogun State capital.

Speaking on the strategic collaboration, Director, Corporate Communications and CSR, Airtel Nigeria, Femi Adeniran, expressed enthusiasm about the partnership, stating, “Airtel is proud to support the Nigeria Institute of Public Relations in its endeavor to advance the field of public relations. The relevance of public relations practice in Nigeria cannot be overstated, as it plays a vital role in shaping perceptions, managing reputations, and influencing public opinion. Hence, our support is a demonstration of our commitment to empowering individuals and organizations with innovative solutions that drive progress and create an enabling society.”

According to NIPR, through the PRWeek Organizing \Committee Chairman, Mr Yomi Badejo Okusanya, the NPRW will gather over 2,000 experts in the fields of economics, PR, and nation-building to discuss strategies for effectively communicating government policies and initiatives to the public. Other activities at the NPRW will include conferences, the annual general meeting, workshops, induction of new members, breakout sessions with students as well as traditional rulers and a tour of some legacy projects in Ogun state.

With Airtel’s provision of onsite unlimited data connection, attendees and participants can enjoy unparalleled access to online resources, real-time updates, and interactive engagements throughout the duration of the event. This will significantly support the exchange of ideas, foster networking opportunities, and elevate the overall experience for all stakeholders involved.

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