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Ghana Connects to Nigeria’s Internet Exchange Point

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  • Ghana Connects to Nigeria’s Internet Exchange Point

Ghana Internet Exchange Point has connected to Nigerian’s Internet Exchange Point (IXPN) to route traffic locally within the region. While this process is on a vice-versa and partnership basis, checks revealed that the move is expected to enhance the chances of Nigeria becoming the regional hub for Internet content in the region and the continent; it will also serve as an opportunity for both countries to reduce cost and improve latency on the route.

Further analysis showed that the Internet traffic destined for the two countries will now remain local, meaning that instead of the traffic coming from Ghana to Nigeria, which first goes to Europe or the Americas before returning to Africa, will come straight to the region.This way, there will be some cost saving, improvement service delivery, and making services safer.

Besides, should Nigeria become the Internet hub for Africa, it will help the country to create contents, especially local that can serve the international market, and enable it attract foreign investors. The Guardian gathered at the weekend that the IXPN is now the second largest in Africa, and the regional IXP for the West African region, a status allocated to it by the African Union.

An IXP is a physical infrastructure through, which Internet Service Providers (ISPs), Content Delivery Networks (CDNs), and other IP centric organisations exchange Internet traffic between their networks.The primary purpose of an IXP is to allow networks to interconnect with one another directly via the exchange rather than through one or more third-party networks.

The advantages of the direct interconnection are numerous, but the primary reasons are cost savings, reduce foreign exchange transaction, reduced latency, high bandwidth availability, security, improving routing efficiency and providing fault tolerance.

Already, it has been revealed that a leading service provider in Nigeria now saves over N20million by localising its traffic using the exchange point. These cost savings for the service providers will eventually translate to reduction cost of Internet access to Internet subscribers in the country.The Ghana-Nigeria deal is already confirmed in document presented by a former Director-General, National Information Technology Development Agency (NITDA), Prof. Cleopas Angaye, at an interaction programme on, “Improving Socioeconomic Development of a Nation Through Qualitative Telecommunications Services,” organised by the Senate Committee on Communications.

In the document, which was obtained by The Guardian, Angaye said the coming together of these two countries will attract other countries, which would enhance the chances of Nigeria being the regional HUB for Internet content in the region and the continent.

Angaye said during his tenure at NITDA, the agency supported the implementation of various IXPs in Nigeria, specifically in Abuja, Port Harcourt, Enugu, and Kano, to ensure even growth of Internet access across the country.“We need to do more to assist the IXPN especially in other regions of Nigeria so that all the benefits being enjoyed by service providers in Lagos can be extended to them,” he stated.

The Managing Director and Chief Executive Officer, IXPN, Muhammed Rudman, who confirmed the connection with Ghana, told The Guardian that the exchange has connected about 45 top organizations in the country.

He said Ghana and Nigeria are working on collaborative efforts to exchange Internet traffic, saying it will give organisations in both countries easy access to each other’s content, while serving as a link to other parts of the world.Rudman said the move will attract foreign investors and content providers, saying that a major content provider would be coming to leverage the IXPN to expand its reach.

According to him, with traffic becoming local, there would be no need going to Europe first, before coming back to Nigeria, “such a move will help our data centres, business developers, content creators. This will ensure skills development, creation of more jobs, among others. Instead of first going to Google America to access traffic, it can now be done locally.”

He revealed that Nigeria being the largest country in Africa, has become a net importer of Internet content, “because there is more downloads than uploads, but with more exchange points and the country becoming a hub, there will be more uploads. So, other African countries can leverage the platform to expand.”

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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