Connect with us

Technology

Paga, Others to Fast-track Remittances Between Europe, Nigeria

Published

on

paga
  • Paga, Others to Fast-track Remittances Between Europe, Nigeria

Paga, a payment and financial services company, yesterday announced that it recently went into partnership with MoneyTrans, a leading Money Transfer company and TerraPay to launch cross-border remittances from Spain to mobile wallets in Nigeria.

Paga in a statement said Nigerians in Spain can now send money to any mobile phone number in Nigeria through its platform, by visiting the nearest MoneyTrans store.

“The recipient can withdraw money from more than 11,000 Paga agents across Nigeria or make card-less withdrawal from ATMs. The recipient can also use the money to pay bills, buy airtime or send the money to any other phone number or bank account in Nigeria, among other services, “it stated.

The company added that the mobile based cross-border remittance service has been launched in Spain and will be followed by successive launches in Belgium, France and Italy in the coming weeks.

Commenting, the Chief Operating Officer of MoneyTrans, Mr. Jeremy De Smet said, “We are glad to take another huge step in enabling mobile money services in Africa. TerraPay is well positioned to offer a strong solution building upon and leveraging a major technical infrastructure that has been in place for many years in Africa.”

Speaking on the partnership Co-founder Paga, Jay Alabraba, said, “We are happy to collaborate with TerraPay and MoneyTrans in enabling secure transfers between Spain and Nigeria, the first of several important remittance corridors we will be launching together. By combining Paga’s extensive reach with the proven capabilities of TerraPay and MoneyTrans in the international remittance space, we are bringing to market a seamless and easy-to-use facility for Nigerians at home and in the diaspora.”

On his part, Founder and CEO of TerraPay, Ambar Sur said, “Nigeria presents a wide array of opportunities for companies like TerraPay, as it is the biggest remittances receiver in Africa. This partnership with MoneyTrans and Paga will play a pivotal role in cross border remittances in Nigeria, helping to reduce fees, improve speed and provide convenience for users. Nigeria is ranked sixth among the top remittance-receiving countries in the world. In 2015, the World Bank pegged remittances received in Nigeria at $21 billion.”

MoneyTrans started its business operations in 1991 by offering retail foreign exchange services in Spain. Activities grew over the years and were expanded to international money transfer services in 2002.Today MoneyTrans is established in eight European countries as well as in Africa, with a wider international network encompassing over 145,000 locations in more than 90 countries.

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.

Continue Reading
Comments

Technology

Starlink Pulls Plug on Ghana, South Africa, and Others

Published

on

starlink

Starlink, the satellite internet service operated by SpaceX, has announced the cessation of services in countries including Ghana and South Africa.

This decision comes as a significant blow to users who have come to rely on Starlink for their internet connectivity needs.

The decision, set to take effect by the end of April 2024, will disconnect all individuals and businesses in unauthorized locations across Africa, including Ghana, South Africa, Botswana, and Zimbabwe.

While subscribers in authorized countries such as Nigeria, Mozambique, Mauritius, and others can continue to use their kits without interruption, those in affected regions face imminent loss of access.

One of the reasons cited by Starlink for the discontinuation is the violation of its terms and conditions.

The company explained that its regional and global roaming plans were intended for temporary use by travelers and those in transit, not for permanent use in unauthorized areas. Users found in breach of these conditions face the termination of their service.

Furthermore, Starlink’s recent email to subscribers outlined stringent measures to enforce compliance.

Subscribers who use the roaming plan for more than two months outside authorized locations must either return home or update their account country to the current one. Failure to do so will result in limited service access.

The decision to discontinue services in certain countries raises questions about the future of internet connectivity in these regions.

Also, concerns have been raised about Starlink’s ability to enforce the new rules effectively. Reports indicate that the company has previously failed to enforce similar conditions for over a year, raising doubts about the efficacy of the current measures.

Starlink’s decision to pull the plug on Ghana, South Africa, and other nations underscores the complexities of providing satellite internet services in diverse regulatory environments.

Continue Reading

Technology

Nigeria’s Broadband Penetration Stalls at 42.53% Amid Connectivity Challenges

Published

on

broadband

Nigeria’s broadband penetration has stalled at 42.53% as of January, according to the latest report.

Subscriptions currently stand at 92.19 million, indicating a significant gap in connectivity, particularly in rural areas.

The Nigerian National Broadband Plan 2020-2025 aims to increase broadband penetration to 70% by 2025, with the ultimate goal of achieving 96% mobile broadband coverage by 2030.

However, this ambitious target requires substantial investment—approximately $461 million, according to a recent report by the Global System for Mobile Communications Association (GSMA).

While the country’s major telecommunications companies, such as MTN Nigeria and Airtel Africa, have invested heavily in expanding their network infrastructure, much of this development has been concentrated in urban areas. Rural and underserved regions face a significant coverage gap, exacerbating the digital divide.

Despite these challenges, Nigeria has made progress in improving its broadband infrastructure. Since 2012, the mobile broadband coverage gap across Africa has decreased from 56% to 13% in 2022, due to significant investments in network capacity and new technologies.

Nonetheless, millions of Nigerians, particularly those in rural regions, remain without access to essential telecom services.

To address this issue, Nigeria’s government established the Universal Service Provision Fund (USPF) in 2006, aimed at bridging the connectivity gap and expanding broadband access to unserved and underserved areas.

The fund provides resources for deploying telecommunications infrastructure in economically unviable regions.

The success of these initiatives, along with increased investments in broadband infrastructure and policies to incentivize internet expansion in remote areas, will be crucial in closing the connectivity gap and improving digital access for all Nigerians.

Continue Reading

Technology

iPhone Shipments Drop Amid Resurgence of Android Rivals

Published

on

Apple iPhone 14

Apple Inc. reported a significant drop in iPhone shipments during the March quarter, reflecting a downturn in sales across China amid the resurgence of competition from Android-powered rivals.

According to market tracker IDC, the tech giant shipped 50.1 million iPhones in the first three months of the year, a 9.6% year-on-year decline that fell short of the average analyst estimate of 51.7 million.

The steep decrease in iPhone sales marks Apple’s most significant quarterly dip since 2022, when Covid-19 lockdowns disrupted supply chains.

This time, the Cupertino-based company faces challenges from resurgent competitors such as Huawei Technologies Co. and Xiaomi Corp.

These firms have rebounded strongly in recent quarters, and their innovative product lines have begun to reclaim market share from Apple in China.

Samsung Electronics Co. regained its position as the top smartphone supplier globally, while Apple ranked second. Xiaomi closed the gap on Apple, shipping 40.8 million units, an impressive 33.8% increase year-on-year.

Transsion Holdings, another key player in the budget smartphone segment, nearly doubled its shipments, showcasing the competitive environment Apple faces.

Nabila Popal, research director at IDC, highlighted the broader shift in the smartphone market, which has recovered from the supply chain disruptions and challenges of recent years.

“While Apple has demonstrated resilience and growth in recent years, maintaining its pace and share in the market may prove challenging as Android manufacturers make strides,” Popal commented.

Apple has a strong brand and loyal customer base, yet its market position may be tested further by the aggressive pricing and innovative products offered by Chinese rivals.

The company’s efforts to sustain its premium pricing strategy may also be challenged as more customers consider switching to Android alternatives.

As the tech industry looks ahead to the rest of the year, Apple’s upcoming earnings report and strategic moves to address this competitive pressure will be closely watched by investors and industry observers alike.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending