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Global Mobile Internet Userbase to Reach Two Billion

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Mobile internet in Nigeria

More than two billion people globally will use mobile devices to connect to the Internet in 2016, with countries like India, China and Indonesia leading the way, research firm India Data Corporation said.

According to www.economictimes.indiatimes.com, overall, an estimated 3.2 billion people representing 44 per cent of the world’s population will have access to the Internet in 2016.

“Growth in Internet access is taking place around the world, but some countries are seeing particularly rapid growth. China, India and Indonesia lead the way and will account for almost half of the gains in access globally over the course of the next five years,” the portal quoted IDC as saying in a statement.

The combination of lower-cost devices and inexpensive wireless networks are making accessibility easier in countries with populations that could not previously afford them, it said.

According to Internet and Mobile Association of India, India was expected to reach 402 million by December 2015, registering a growth of 49 per cent over 2014. About 306 million of these are expected to access Internet from their mobile devices.

IDC said the global mobile Internet userbase is forecast to grow at two per cent annually through 2020 unless significant new methods of Internet access are introduced.

Efforts by Google, SpaceX, and Facebook among others to make the Internet available to the remaining four billion people via high altitude planes, balloons, and satellites are underway.

However, it remains unclear how successful these endeavours will be and when they will be operational at scale, IDC said.

“Over the next five years, global growth in the number of people accessing the Internet exclusively through mobile devices will grow by more than 25 per cent per year while the amount of time we spend on them continues to grow. This change in the way we access the Internet is fueling explosive growth in mobile commerce and mobile advertising,” Program Director of Strategic Advisory Service, Scott Strawn said.

More than two billion use email and read news online and more people than ever before are making purchases online, the statement added.

Internet start-ups in India are joining the front line against Facebook Inc. founder Mark Zuckerberg and his plan to roll out free Internet to the country’s masses.

The government has ordered Facebook’s Free Basics plan on hold while it decides what to do.

The program, launched in more than 35 developing countries around the world, offers pared-down web services on mobile phones, along with access to the company’s social network and messaging services, without charge.

But critics say the program, launched 10 months ago in collaboration with Reliance Communications, violates principles of net neutrality, the concept that all websites on the internet are treated equally. It would put small content providers and start-ups that don’t participate in it at a disadvantage, they say.

“India is a test case for a company like Facebook and what happens here will affect the roll out of this service in other smaller countries where perhaps there is not so much awareness at present,” said Mishi Choudhary, a New York-based lawyer who works on technology and Internet advocacy issues.

Also at stake is Facebook’s ambition to expand in its largest market outside the United States. Only 252 million out of India’s 1.3 billion people have Internet access, making it a growth marke ..

In a letter seen by Reuters, the heads of nine start-up including Paytm, backed by China’s Alibaba Group, and dining app Zomato, have written to the watchdog Telecom Regulatory Authority of India urging it to ensure Internet access was allowed without differential pricing.

The executives said in the letter, dated Tuesday, that differential pricing for Internet access would lead to a “few players like Facebook with its Free Basics platform acting as gate-keepers”.

“There is no reason to create a digital divide by offering a walled garden of limited services in the name of providing access to the poor,” they wrote.

According to Facebook CEO, Mark Zuckerberg “We know that for every 10 people connected to the Internet, roughly one is lifted out of poverty,” he wrote in The Times of India newspaper this week. “We know that for India to make progress, more than 1 billion people need to be connected to the Internet.

“What reason is there for denying people free access to vital services for communication, education, healthcare, employment, farming and women’s rights?”

A company spokesman said the aim of Facebook’s Free Basics initiative was to give people a taste of what the internet can offer. And Facebook has issued a series of full-page newspaper advertisements and set up billboard banners in an unusual and aggressive campaign to counter the protests.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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E-commerce

Nigerians To Enjoy 85% Discount On Groceries, Phones, Home Appliances, Others As Konga Begins Yakata Black Friday Sale

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Consumers in Nigeria now have opportunity to get 85 percent discount on products of their choice in this year’s yuletide as Konga, Nigeria’s leading e-commerce group, has officially commenced its highly anticipated annual Konga Yakata Black Friday sale.

The offer that was launched on Friday, November 1st, will run through November 30th, 2024.

The Konga Yakata Black Friday campaign is a unique opportunity for Nigerian consumers to access premium products at unbeatable prices, while also benefiting from Konga’s trusted logistics and payment solutions. Shoppers are encouraged to visit Konga.com to take advantage of these exceptional offers throughout November.

According to the management of the firm, this year’s Yakata sale brings unbeatable offers across all Konga subsidiaries, including Konga Online, Konga Retail, KongaPay, Konga Travel and Tours, Konga Health, and Konga Logistics.

Touted as the “Biggest Sale of the Year,” Konga Yakata Black Friday offers consumers the opportunity to enjoy up to 85% discount on a wide range of products across categories, including groceries, phones and accessories, home appliances, fashion, and beauty.

It is believed that the sale campaign will usher significant relief to shoppers as Konga moves to cushion the effect of the nation’s harsh economic realities.

As a trusted and authorized retailer of leading Original Equipment Manufacturers (OEMs), Konga provides shoppers with unmatched access to genuine products from renowned brands such as Starlink, L’Oreal, Apple, Samsung, Philips, Zinox, Nokia, Hisense, Oppo, Infinix, Lenovo, and HP.

It further asked consumers to expect not only the convenience of authentic goods but also a distinct pricing advantage on these premium brands.

The Yakata campaign also supports Nigerian small and medium-scale enterprises (SMEs) by driving consumer demand through nationwide awareness and promoting e-commerce adoption.

It indicated that Konga has invested significantly in creating awareness for Yakata, enabling more Nigerians to leverage online shopping for their essential needs and lifestyle desires.

For this year’s offer, the deals do not end on Konga.com alone as Konga, through its subsidiaries, provides exclusive deals to customers during the Yakata period:

Konga Travel and Tours affiliates and top clients were asked to watch out for perks including free weekend hotel accommodations, and a zero-service charge for corporate clients who book travel during the Yakata campaign.

Konga Health is offering exciting discounts on renowned brands like CeraVe and on your favourite beauty and health products. Customers can also use your favourite Konga Health influencer’s voucher code to unlock even more exclusive deals and freebies! Stay tuned to Konga Health’s social media pages for the latest updates and announcements.

KongaPay is offering shoppers who use KongaPay for purchases on Konga.com will receive a 10% discount, with additional benefits like 10% off on bill payments including electricity, cable TV, and data.

It added that users who maintain a savings balance of at least NGN50,000 are eligible for a 15% annual interest rate. As part of a special promotion, shoppers who use KongaPay also stand a chance to win cash prizes in a 100k giveaway. To qualify, customers simply need to download the KongaPay app and create an account in minutes.

Assuring customers of a seamless delivery system, Konga Logistics noted that it offers delivery at competitive, discounted rates. Konga Logistics assured that a seamless shopping experience with reliable and affordable delivery options for all purchases made during the Yakata season.

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MTN Nigeria Strengthens Working Capital By Raising N50bn In New Commercial Paper

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MTN Nigeria Communications PLC (MTN Nigeria) has disclosed plans to raise N50 billion through its latest issuance of commercial paper (CP) to boost its working capital.

The plan is under N250 billion Commercial Paper Issuance Programme.

Not only that this Series 11 and 12 CP issuance is expected to strengthen MTN Nigeria’s short-term working capital, it will also diversify its financing base.

A notification to the Nigerian Exchange Limited and the investing public further revealed that this proposed issuance is part of MTN Nigeria’s ongoing strategy to tap the debt market as a flexible funding source to meet immediate financial needs.

It builds upon the company’s series of CP issuances in the past year as it pursues a robust approach to balance its capital structure.

The funds are expected to support the company’s operational and growth requirements as it seeks to expand its infrastructure, improve service delivery, and cater to the increasing demand for telecommunications and digital services across Nigeria.

MTN’s financial statement as of September 2024 suggests it has negative working capital of about N1.49 trillion

The cash flow is necessary in order to enable the company meet cash flow demands and service short-term debt without over-relying on long-term financing

This approach provides financial flexibility, allowing MTN Nigeria to manage interest costs and adjust its debt profile in line with operational cash flow, which is critical for a company with significant external loans.

The issuance also serves the broader purpose of diversifying MTN Nigeria’s financing sources, reducing reliance on bank loans, and maintaining a balance between short- and long-term debt.

This financial strategy not only enhances MTN’s liquidity but also positions it to better withstand the economic challenges in Nigeria’s volatile business environment.

While the company has yet to disclose specific terms of the Series 11 and 12 notes, further details are expected to be shared in the coming weeks.

 

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Jumia Nigeria Launches Black Friday Offers, Extends Services To Smaller Towns, Villages

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Jumia Nigeria has launched its Black Friday deals and offers as consumers in smaller towns and villages nationwide now have access to its shopping experiences.

The company disclosed that it is expanding e-commerce access bearing in mind that the prevalent economic downturn in the country is having its tolls on many Nigerians, especially those in rural communities.

It disclosed that the campaign will run from November 1st to November 30th, 2024 with the theme ‘No Too Calculate’.

Reiterating its commitment to creating a simpler, stress-free shopping experience for Nigerians amid economic challenges, Jumia promised to allow consumers to enjoy great savings without budgetary worries.

Disclosing that this year’s Black Friday campaign is supported by Xiaomi as the platinum partner, alongside renowned brands such as Oraimo, Nivea, Infinix, Tecno, Itel, Haier Thermocool, Binatone, Pernod Ricard, Diageo, Bacardi, Hikers, Ecoflow, Skyrun, Glamstar, Ledrop, Unilever, Macallan, LG, and others, the CEO, Jumia Nigeria, Sunil Natraj stressed that the campaign is about making e-commerce more accessible to consumers in Nigeria.

Recognising the current economic situation in the country , Natraj said Jumia has worked closely with its brand partners to offer the best possible deals to consumers during this period.

According to him, Jumia expanded its network of Pickup Stations to ensure that even more consumers, regardless of their location, can benefit from the convenience of online shopping.

Harping on the company’s priority of creating real value for both its consumers and sellers through its extensive ecosystem, the CEO said those in rural areas would easily participate in the online shopping and get their delivery seamlessly.

For the Country Manager, Xiaomi Nigeria, Xingyu Yang, everyone deserves access to the latest cutting-edge technology, noting that Jumia Black Friday is the perfect opportunity for consumers to experience Xiaomi’s nnovative products at unbeatable prices.

He said since Jumia introduced Black Friday to Nigeria in 2014, the company has continued to unlock new opportunities for both consumers and businesses, expressing confidence that Nigeria will play a pivotal role in projection that online shopping in Africa will reach $75 billion by 2025.

He added that the Black Friday campaign serves as a powerful platform for international and local brands as well as SMEs to expand their reach and boost sales.

To make the online shopping and delivery easier, Yang stated that Jumia has extended its logistics network and has partnered with hundreds of local logistics service providers that will ensure easy delivery to all corners of Nigeria, including smaller towns and rural areas.

Listed on the New York Stock Exchange (NYSE) in 2019, Jumia is the leading e-commerce company in Africa, operating in 11 countries. The Jumia platform consists of a marketplace, which connects sellers with consumers, a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, JumiaPay, which offers a safe and easy solution to facilitate online payment transactions.

The company offers goods across a broad range of categories, such as phones and electronics, home appliances, fast-moving consumer goods, fashion and beauty.

 

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