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ATCON Launches Book on 100 Leading Telecom, ICT Personalities

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  • ATCON Launches Book on 100 Leading Telecom, ICT Personalities

The Association of Telecommunication Companies of Nigeria has launched a book celebrating some of the players associated with the innovation and creativity in the Nigerian telecommunication and ICT industry.

Speaking during the unveiling of the book profiling 100 leading personalities in the industry, the President of ATCON, Mr. Olusola Teniola, said that the book chronicled those whose creativity had attracted both local and international attention to the country’s telecom and ICT industry.

He said, “We are happy as an association that the entire ecosystem of telecom and the ICT in Nigeria has grown over the years. ATCON has been in the forefront, protecting exiting investments in the telecom and the ICT sector and attracting further investment into the sector while also advocating an enabling environment in the Nigerian telecom and the ICT ecosystem.”

Teniola explained that the historic book was meant to put on record those who had contributed to the development of telecom and the ICT in Nigeria.

He said, “The objective of this revolutionary book is to chronicle the development that has taken place in the liberalisation of the sector; to give the incoming generation the opportunity to learn from veterans in the telecoms industry as well as to determine the future of the ICT in Nigeria and the barriers to creativities and innovations in Nigeria.”

The first elected President of ATCON and former Executive Vice Chairman of the Nigerian Communications Commission, NCC, Dr Ernest Ndukwe, lauded the project, stressing that it showed visionary leadership that ATCON was known for.

Ndukwe, while congratulating those profiled in the book, urged emerging entrepreneurs in the industry to remain resilient and continue to innovate in the industry.

In his review, Elvis Eromosele, said that the personalities featured were unanimous while highlighting issues in the industry such as call for the ICT bank, harmonisation of taxes in the industry, capacity building and inclusion of fibre optic ducts in the design of roads across the country.

He said that the book which gave insights into the Nigerian telecom and the ICT industry was a repository of knowledge as expressed by the 100 personalities.

Eromosele recommended the book to embassies, universities, federal and state government agencies, public and private libraries, telecom and ICT international events such as International Telecommunications Union and Gitex.

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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EU Raises Tariff on Chinese Electric Vehicles by 35%

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In an effort to slow down Chinese infiltration of the European market with more affordable options, the European Union has hiked tariffs on electric vehicles from China by 35% to 45% from the usual 10%.

According to people familiar with the situation, ten member states voted in support of the new tariff while Germany and four others voted against it. The remaining 12 states reportedly abstained.

Last month, the former European Central Bank President Mario Draghi warned that Chinese state-sponsored competition was a threat to the European Union and could leave the region vulnerable to coercion.

The bloc had claimed that China unfairly subsidized its industry to have an edge over EU businesses, a claim Beijing denies and has threatened retaliatory action on European dairy, brandy, pork and automobile sectors.

However, given the size of trade between the bloc and China, €739 billion or $815 billion in last year, it’s believed the two parties will continue negotiations to find an alternative to the tariffs.

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OpenAI’s Valuation Soars to $157 Billion After $6.6 Billion Funding Round

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OpenAI, the company that owns Chatgpt, has raised $6.6 billion in a new funding round to boost the company’s valuation to $157 billion as it looks to strengthen its lead in generative AI technology.

Thrive Capital led the funding round with $1.3 billion, while Microsoft invested an additional $750 million, bringing its total investment in OpenAI to $13.75 billion.

According to a source familiar with the matter, Khosla Ventures, Fidelity Management & Research Co., and Nvidia Corp., the chipmaker whose powerful processors are driving the AI boom—were also among the investors.

Apart from Elon Musk’s SpaceX and TikTok owner ByteDance Ltd, this deal ranks as one of the largest-ever private investments.

The ability of OpenAI to raise such a substantial amount despite heightened global risks demonstrates the industry’s confidence in the power of AI.

Other investors included Tiger Global Management, which contributed $350 million, and Altimeter Capital, which invested at least $250 million.

SoftBank Group Corp. and the new Abu Dhabi-based tech investment firm MGX also participated, with SoftBank’s investment totaling $500 million, according to one source who requested anonymity. Venture firm Coatue was another participant.

In a statement, the company said it plans to use the funds to advance AI research and expand its computing capacity. “AI is already personalizing learning, accelerating healthcare breakthroughs, and driving productivity,” said OpenAI Chief Financial Officer Sarah Friar. “And this is just the start.”

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Kazang Pay Launches Card Acquiring Service in Zambia

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Kazang, the prepaid value-added services (VAS) and card acquiring business within JSE-listed fintech Lesaka Technologies, has launched its Kazang Pay card acceptance solution for merchants in Zambia. Kazang Pay makes it affordable for merchants to accept card payments on the same Kazang terminal they use to sell prepaid products and services.

The Kazang Pay enabled terminal in Zambia accepts VISA debit and credit cards as well as mobile wallet payments. Payments are settled to the merchant’s Kazang wallet on the same day. It’s as easy as letting the customer tap or insert their bank card and enter their PIN on the secure scramble PIN pad.

Kazang operates around 12,000 VAS terminals in Zambia. The goal is to enable the majority to accept card payments over the next six months. Benefits to merchants include low transaction fees and no monthly terminal rental fee for those that meet a modest monthly transaction threshold as well as the opportunity to grow their business through card acceptance.

Kazang is Zambia’s largest VAS point-of-sale terminal provider, enabling mobile money payments, bank and mobile money cash in and out, bill payments, airtime, Zesco, and many other prepaid services on one platform. The addition of card acceptance makes the platform even more comprehensive for merchants and consumers alike.

The launch of Kazang Pay in Zambia follows the introduction of the solution in South Africa, where around 60,000 small and micro merchants use Kazang Pay to accept card payments.  In Zambia, there are around 3.8 million debit, credit and ATM cards in issue and 41,000 point of sale (POS) terminals in place. The value of POS transactions has grown to K 111.4 billion by 2022 from less than K 20 billion in 2018, according to the Bank of Zambia.

Says Leon de Wit, managing director at Kazang Zambia: “Zambia has made enormous strides in terms of financial inclusion, with card usage and penetration growing at a rapid pace. With Kazang Pay, merchants can now easily accept card payments on the same all-in-one terminal they already use for vending of VAS products.

“Card transactions help merchants to grow basket sizes and potentially attract more customers, and at the same time, reduce the risks and costs of handling cash. Moving towards digitalised payments will also enable merchants to track sales, manage cash flow,  and create a footprint that could make it easier for them to access loans.”

Ashley Naidoo, director of Kazang Pay in South Africa says: “Our Zambian merchants have eagerly embraced our card acquiring service as a valuable part of our one-stop solution. Following the launch of Kazang Pay in Zambia, we have seen higher VAS sales across our merchant base and much-improved merchant retention and with our card acquiring solution we now appeal to a broader merchant base.”

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