Connect with us

Technology

Broadband Penetration Now More than 20%

Published

on

Nigeria Internet Users
  • Broadband Penetration Now More than 20%

With 30 per cent broadband penetration target by 2018, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has revealed that Nigeria has achieved more than 20 per cent penetration as recently disclosed by the International Telecommunications Union (ITU).

While underscoring the resilience of the telecom sector, Danbatta said the active total subscribers in the network has surpassed 152 million, with Internet penetration of more than 97 million.

Speaking at the 2016 Abuja International Trade Fair, Danbatta, said the penetration level signifies that the country is getting nearer its target of 30 per cent by 2018 as set by the National Broadband Strategy Report.

The EVC who was represented by the Head, Public Affairs, Mr. Reuben Muoka, averred that NCC’s robust broadband deployment programme through the open access model of fibre infrastructure provision licensing and auctioning of broadband spectrum licenses are yielding results.

The EVC said: “These are to show that the telecom industry will continue to add value to our lives and economy. A lot of solutions are available with the availability of telecom services. Internet banking and online bookings are prevalent.

“The Nigerian social media is alive and thriving. We have a full dose of social media interactions going on across the length and breath of the country.”

Danbatta urged telecom consumers to take advantage of the Do-Not-Disturb Code: 2442, to combat the menace of unsolicited text messages, adding that NCC has now empowered the consumers to determine which text messages to receive.

He said service providers have been mandated to ensure that they do not only provide this solution to the consumers, but should create awareness so that consumers will be able to take advantage of it.

According to him, pre-registered SIM cards are constituting concern to the commission, adding that directives have been sent to service providers to ensure that their agents are not used to perpetrate this fraud. He advised consumers to desist from buying or using pre-registered SIM cards.

The EVC said, use of substandard and counterfeits devices worsen the quality of service, adding that the devices fall short of international standard and therefore pose risk to users.

Danbatta called on Nigerians to help in preventing vandalisation of telecom infrastructure and denial of right of way to service providers, adding: “The commission is requesting partnership with the public to prevail on some communities and individuals who bar service providers from maintaining their sites.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Technology

5G Nationwide Deployment is 97 Percent Ready – NCC

Published

on

5G - Investors King

The Nigerian Communications Commission (NCC) has said that the commission is 97 percent ready for the deployment and implementation of 5G in the country.

NCC Executive Vice Chairman, Professor Umar Danbatta confirmed the commission’s readiness on Thursday, October 14, at the annual African Tech Alliance Forum (AFRITECH) 2021, held in Lagos with the theme: “Embracing Changes and Digital Transformation in the New Normal.”

Revealing that the NCC is working with operators to implement a number of initiatives to ensure network expansion, he also noted that this paradigm shift in communication has led to a significant increase in network connectivity requirements as a result of an unprecedented upsurge in internet traffic, occasioned by the use of a plethora of web applications.

Danbatta further announced that there is also a plan to auction spectrum in 3.5 gigahertz (Ghz) band to operators for the deployment of 5G network in Nigeria.

He said; “Already, we are set for the auction of some spectrum slots in 3.5GHz band. The other day I was at the National assembly, I informed the senate that we were 95 percent ready for 5G. Today as we speak, I am delighted to tell you that we are already at 97 percent completion.

“Consistent with our mandate as enshrined in the Nigerian Communications Act 2003 (NCA-2003) and other guiding legislations, we have been working to ensure the penetration of broadband services in line with Federal Government’s targets, as contained in Nigerian National Broadband Plan (NNBP), 2020 to 2025.

“The Committee set up to auction the Spectrum has already developed an Information Memorandum (IM) which is already published for inputs and comments from all industry stakeholders. Prior to this, a 5G deployment plan was developed and we have since secured Federal Government’s approval.”

He stated that the trend has made remote work, virtual meetings, virtual studios, and virtual healthcare delivery, among others, the new normal.

The NCC boss was represented at the event by the Director, Spectrum Administration at the commission, Engineer Oluwatoyin Asaju and the commission’s Director of Public Affairs, Dr. Ikechukwu Adinde.

Continue Reading

Fund Raising

Flutterwave Eyes $3 Billion Valuation Ahead of Another Fundraising

Published

on

Flutterwave - Investors King

Flutterwave, one of Nigeria’s tech unicorns, is presently in talks to raise an additional fund at a valuation of $3 billion or even more, according to a Bloomberg post.

The figure would triple Flutterwave’s last valuation of $1 billion.

Operating from both Lagos, Nigeria and San Francisco, US, Flutterwave held discussions with potential investors recently, the people familiar with the ongoing discussions stated. They explained that terms of funding are yet to be finalised and that it is likely to change.

The talks were led by the company Chief Executive Officer Olugbenga Agboola. In March, the company announced it has hits unicorn status after raising $170 million in a round led by Avenir Growth Capital and Tiger Global Management LLC. Other investors were DST Global, Greycroft, Insight Partners and Salesforce Ventures.

In the same March, the company announced a partnership with Paypal Inc. to enable its global customers to pay African merchants using Flutterwave’s platform.

Founded in 2016, Flutterwave facilitates cross-border transactions across Africa for companies including Facebook Inc., Uber Technologies Inc. and Booking.com. As of March, the startup said it had processed more than 140 million transactions worth over $9 billion in aggregate and that its revenue had risen at a compound annual growth rate of 225 percent between 2018 and 2020.

Continue Reading

Fund Raising

Nigeria’s Neobank Sparkle Raises $3.1 Million

Published

on

Sparkle - Investors King

One of Nigeria’s leading digital banks, Sparkle has raised $3.1 million in a seed round led by Leadway Assurance, Trium Network and other high net worth individuals to scale operations, according to the startup’s CEO, Uzoma Dozie.

The new fundraising was after the CEO raised $2 million in a pre-seed round from friends and family within the past year. Sparkle has now raised a combined $5 million.

Speaking on the startup, the CEO said Sparkle is different in the sense that it combines financial services with lifestyle to evolve with Nigeria’s need digital lifestyle.

He said “We’re quite different in a way because instead of separating financial services from lifestyle, we’ve tried to bring them together, especially as we’ve seen that more people are beginning to lead more digitally-led lives,” CEO Uzoma Dozie stated in an interview with Techcrunch.

It means that we don’t see our customers from accounts, payments, deposits or credit perspectives, but from how can we help them do what they want to do at any particular time.”

Unlike other digital banks operating in Nigeria, Sparkle is serving both individuals and businesses on its platform. While digital banks like Kuda, VBank, Carbon, etc are offering tailored services to only individuals, Brass and Prospa are the other two serving businesses and individuals like Sparkle.

As a small business, I’m not carrying my bank account on my mobile. I’m carrying my business. So we are bringing everything about your business into one place so that you can do business wherever you are,” Dozie said.

For individuals, we’re bringing everything into one place so that you can do what you want to do quite easily wherever you are. But the bottom line is that we’re providing you with the information that you need to take spontaneous decisions.

With its microfinance bank license, the digital bank has partnered with Visa to ensure customers can make in-person and online payments. Other partnerships are with companies like Network International and PwC Nigeria.

Since launching in 2020, Sparkle has opened accounts for over 40,000 individual users and 2,000 businesses. The digital bank is however charging individual customers small fees to keep their accounts operational and plan to charge businesses for most features except taxation services.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending