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Ericsson Invents Solutions to Bridge Digital Divide

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  • Ericsson Invents Solutions to Bridge Digital Divide

Ericsson has invented another set of solutions, which will help bring mobile broadband coverage to the remaining three billion people who are either underserved or without mobile broadband access.

The new solutions, which include software and hardware additions to Ericsson Radio System, provide the capabilities needed to reduce the total cost of ownership by up to 40 per cent.

This, Ericsson said, would make investment in low Average Revenue Per User markets viable.

To complement the deployment of the solutions are new mobile broadband tools, which allow operators to identify which sites in a GSM/EDGE coverage area have the highest number of users who already have Internet-ready devices.

According to Ericsson, operators can then determine where it makes more sense to convert those sites first to the HSPA or 4G/LTE, “so that the greatest number of people will enjoy the benefits of mobile broadband.”

The Broadband Commission for Sustainable Development, co-chaired by the International Telecommunications Union and the United Nations Educational, Scientific and Cultural Organisation, had championed the vital role played by the Information and Communications Technology in laying the foundation for achieving the United Nations Sustainable Development Goals.

The Broadband Commission’s new report highlighted that the digital divide was shifting from basic telephony to Internet, and it estimated that it would cost $450bn to bring the next 1.5 billion people online.

The Head of Business Unit Network Products, Ericsson, ArunBansal, said, “These are among the most important additions to our product portfolio for mobile broadband coverage growth ever. Ericsson supports the International Telecommunication Union’s Connect 2020 target of ensuring that more than 50 per cent of people in the developing world are using the Internet by 2020.”

He also said, “In order to reach this goal, together, we will need to connect roughly 500,000 new users to the Internet each day. Ericsson continues innovating so that operators can create viable business even in rural or off-grid settings, and to make the most difference with every investment.”

The Principal Analyst, Intelligent Networks, Ovum, Daryl Schoolar, said, “These innovations address investment pain points while also considering the current situation and environment of many of these builds. Ericsson is unique in their multifaceted approach and focus on spurring mobile broadband adoption in these developing markets.”

The new solutions address the significant divide in Internet adoption between developed and developing countries – only four out of 10 people in developing countries are connected to the Internet.

About 15 per cent of the world’s population do not have access to electricity. And the innovations followed a trio of solutions for developing areas unveiled in February this year: Flow of Users, Zero Touch and Mobile Broadband Expander.

The Head of Region, sub-Saharan Africa, Jean-Claude Geha, said, “As of 2015, GSM/EDGE still accounted for close to 70 per cent of the total mobile subscriptions in sub-Saharan Africa.

“As a technology leader, we continuously seek to develop sustainable ways to provide quality mobile broadband coverage — even in the unconnected areas.”

He also said, “These energy-efficient solutions will enable operators to seamlessly identify underserved communities in the region, making it faster to introduce or improve the mobile broadband experience of their subscribers.

“This will open new opportunities in far flung areas in the region, creating access to new services such as mobile money, e-health, e-education and e-government, thereby transforming the way people play, learn and do business forever.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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