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Telcos, OTT Urged to Collaborate

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Telecoms
  • Telcos, OTT Urged to Collaborate

Stakeholders who gathered at the 2019 Telecom Executives and Regulator Forum (TERF), which held recently in Lagos, have stressed the need for a collaboration between telecoms operators and Over the Top Technology (OTT) players, as a means to further grow the Nigerian economy.

Organised by the Association of Telecoms Companies of Nigeria (ATCON), the forum sought to address grey areas of OTT operations in Nigeria, as they contribute to the revenue loss of telecoms operations, which was reportedly put at $386 million between 2012 to 2016.

The speakers said there was need for collaboration between telecoms operators and OTT players instead of regulating the operations of OTT players.

Some stakeholders had suggested the need for OTT regulation as they felt that free services like WhatsApp calls, Skype calls, and WhatsApp messaging, offered by OTT players to their customers while riding on the network of telecoms operators, were eating deep into the revenue streams of telecoms operators, and have been causing them loss of revenue.

The Chief Executive Officer, Medallion Communications, Mr. Ikechukwu Nnamani, who featured as one of the panelists, said: “It is true that OTT operations are cutting deep into the revenue generation of telecoms operators, who spent so much money to build the network on which OTT players are riding upon to provide free services to customers, but I am happy that telecoms operators also see the need for OTT players to operate in the ecosystem because they are contributing in driving increased broadband penetration in the country.”

The Executive Chairman, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, in his keynote speech at the forum, highlighted the key trends shaping the telecoms industry to include high demand, disruptive competition growth like the OTT/Telecoms competition, data dominance, and connecting things.

Danbatta who was represented by the Director, Policy Competition and Economic Analysis at the NCC, Mr. Mohammed Babajika, said the trend necessitated conceptualising innovative ideas within the telecommunications ecosystem as a central requirement for the industry sustainability and investment drive.

Speaking on the topic: Formulation of Policy and Regulation for OTT–Challenges and Prospects, Danbatta said OTTs were content delivered over the internet, and that their prospects were numerous such as increasingly supporting future service model that are rapidly expanding across multiple communications and digital service domain; growth of smart phones that are affordable, which pushes the demand for broadband; and increased mobility that brought convenience. He, however, pointed out the challenges of OTTs to include data protection and privacy issues among others. He, therefore, said there was need to compare notes with other jurisdictions as regards to the market dynamics, policy and regulatory challenges of OTT services among others.

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.

Fintech

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

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Robinhood

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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