- YouTube, MTN Partner To Support Indigenous Content
In an attempt to support the growth of YouTube Creators in Nigeria, the Video sharing platform has unveiled two initiatives.
The initiatives, as disclosed by YouTube include YouTube-driven promotional campaign and a partnership with MTN.
The YouTube-driven promotional campaign will feature upcoming content from top local YouTube channels and creators; it will showcase a broad collection of verticals and local content from genres like entertainment, food, beauty, comedy and sports.
Also, the MTN partnership would enable the creators to have access to free data for three months.
The telecommunication company also introduced new offerings for consumers to take up so they can watch more of their favourite channels.
This was made known an event graced by top Nigerian YouTube creators, entertainers, movie industry experts, influencers as well as media, in Lagos.
The creators, during the event, got the MiFi devices and free internet access for the next three months to help them share more content, more conveniently.
“Helping more creators to get discovered and succeed, and making it easier for more people to be able to access the platform through affordable data plans is essential to us,” Google’s Country Marketing Manager in Nigeria, Olumide Balogun said.
“We are committed to supporting creators to develop locally relevant content.
“In addition to YouTube Week in June and the Mr Eazi emPawa Africa partnership announced in July, we have also awarded play buttons to creators as they hit subscriber milestones this year.”
Bank of America, Coinbase Ventures Invested in Paxos’ $300M Funding Round
Paxos – a provider of blockchain infrastructure – said Bank of America, crypto exchange FTX, Founders Fund and Coinbase Ventures were among a heavyweight list of investors in its $300 million Series D funding round, the firm disclosed on Thursday.
Oak HC/FT led the funding round, which the nine-year-old company announced in late April at a valuation of $2.4 billion. The round also included PayPal Ventures and Mithril Capital, among others. The firm has raised more than $540 million over multiple funding rounds.
The company noted that Bank of America joined the Paxos Settlement Service earlier this year. The platform uses blockchain technology to achieve the same-day settlement of stock trades.
“We’re defining this space and are excited to grow our enterprise solutions besides these market leaders,” Paxos CEO and co-founder Charles Cascarilla said in a press release.
Paxos started providing infrastructure for PayPal’s crypto service last year, which has extended to PayPal’s Venmo payments app. Credit Suisse, fintech Revolut and Societe Generale are among other customers.
In an April interview with CoinDesk, Cascarilla called the latest funding round “confidence capital” that would give customers certainty that Paxos would “be around for the next five to 10 years.”
In a statement, Founders Fund partner Napoleon Ta called Paxos “a trusted operator in blockchain-based financial market infrastructure,” highlighting “its commitment to regulation, reliability and security for enterprises entering digital asset markets.”
NCC Sets Fresh Operational Fees, Spectrum Prices For Telecommunications Operators
The Nigerian Communications Commission (NCC) has set up an annual operating regulatory levy to ensure that all licenses were properly and equitably assessed to meet statutory and regulatory expectations.
This was disclosed by the Executive Vice-Chairman of the NCC, Professor Umar Danbatta, during the Public Inquiry on two regulatory instruments draft held on Thursday, in Abuja.
Danbatta explained that the two key regulatory instruments were tailored to meet the challenges and to further strengthen the market structure of the industry.
The instruments include the Annual Operating Regulations and the Frequency Spectrum Regulations, which fees and pricing fall under.
He said “The first instrument will bring the regulations in line with current realities and sustain the enviable contributions of the communications sector to the country’s Gross Domestic Product (GDP)
“The second instrument is a vehicle that enables the commission to meet its role and exclusive mandate in Section 121 of the Nigerian Communications Act 2003 by assigning this scarce national resource in an equitable manner. The regulations also ensure that frequency spectrum are assigned and managed in a way that ensures fair pricing and efficient deployment of attendant services. The public inquiry is precursor to the commission’s current drive to ensure efficiency in spectrum management and unveiling of next-generation services through varied enablers.”
The NCC Boss informed that the Commission had commenced the process of deploying Fifth Generation (5G) technology in Nigeria, which largely depended on the appropriate frequency spectrum.
With the explosion in technologies, Danbatta said there was also an attendant secondary reliance on different approaches to maximize frequency spectrum.
He noted that this led to the need for designation of several bands of frequency spectrum for communications services and a key illustration was the recent identification of some Spectrum frequencies for 5G deployment.
Professor Danbatta assured that the Commission was conscious of the expectations and the need to ensure that the required regulatory frameworks were in place to meet these challenges.
He noted that this had made the reviews, which the Commission was conducting an important milestone as the public inquiry is pushing the country to the front queue of this global efforts.
“We must be prepared on both ends of the industry to push the country forward for these remarkable changes; while the licensees continue to invest in deployment. The Commission will sustain its drive-by ensuring regulatory efficiency and excellence,” the NCC Boss restated
He expressed optimism that the review would ensure effective and efficient utilization of frequency spectrum and also ensure a fair approach to the management of finance in the industry in the near future.
Danbatta urged participants to make their contributions freely and raise issues that would assist the Commission in developing and issuing regulatory instruments that would continually contribute to the development of the industry and sustain its positive contributions to the nation’s economy.
Earlier, in her address, the Director, Legal and Regulatory Services of the Commission, Ms. Josephine Amuwa, said the objective of the public inquiry was to secure the buy-in of all stakeholders and ensure the efficiency of the regulatory instruments when implemented.
She explained that the Commission decided to review the Annual Operating Regulations 2014 and the Frequency Pricing Regulations 2004 to ensure that the regulatory instruments issued were abreast with developments in the industry.
According to Amuwa, the Annual Operating Levy Regulations review will look at the current licensing structure and ensure that all the spectra of licensees will be properly covered.
“Another key part of the review is to clarify and clearly outline the benchmarks for assessment. This will not only ensure regulatory certainty but further entrench transparency in the process. On the other hand, the review of the second regulation, the Frequency Spectrum (Fees and Pricing) Regulations is expected to provide more guidelines on the parameter for determination of proper fees and pricing of spectrum. This will also make adequate provisions for different spectrum licensing processes and their assessment parameters,” she explained.
Present at the event were the Executive Commissioner, Technical Standards, Engineer Ubale Maska, the Executive Commissioner Stakeholder Management, Mr. Adeleke Adewolu, Directors, Deputy and Assistant Directors as well as External Stakeholders.
Airtel Africa Customer Base Rises by 8.4 Percent to 120.8 Million in Q1, 2022
Airtel Africa Plc, a leading telecommunications company in Africa, grew its customer base by 8.4 percent to 120.8 million in the first quarter (Q1) of 2022.
The telecoms giant recorded strong revenue in Nigeria, up by 38.2 percent and posted 32.8 percent in East Africa while it achieved 24.9 percent in Francophone Africa.
Airtel Africa’s first quarter begins from April to June of the current year and the year ended in the first quarter of the following year. Hence, why it is quoted Q1 2022.
Airtel Africa Q1 Highlights
Q1’22 Reported revenue grew by 30.7% to $1,112m, with constant currency growth of 33.1%. Revenue growth partially benefitted from a weakened quarter in the prior year during the peak of Covid-19 restrictions across the region. Even after adjusting for these effects, revenue growth rates for the Group, service segments and reporting regions were all ahead of Q4’21 trends.
Strong revenue growth was recorded across all regions: Nigeria up 38.2%, East Africa up 32.8% and Francophone Africa up 24.9%; and across key services, with revenues for voice up 26.0%, data up 37.4% and mobile money up 53.7%.
Underlying EBITDA grew by 42.4% to $534m in reported currency, while constant currency growth was 46.2%.
Underlying EBITDA margin was 48.0%, an increase of 396 basis points(increase of 428 basis points in constant currency) led by both revenue growth and improved operational efficiencies.
Operating profit was $352m, up 67.6% in reported currency and 73.9% in constant currency.
Profit after tax more than doubled to $142m, up 148.7%, largely due to the higher operating profits along with stable net finance costs which more than offset the increase in tax charges due to increased profits.
Basic EPS was 3.3 cents, an increase of 200%, as a result of higher profit and stable finance costs and foreign exchange. EPS before exceptional items was 3.2 cents.
Operating free cash flow (underlying EBITDA less capex) was $428m, up 38.7%.
Customer base grew by 8.4% to 120.8 million, with increased penetration across mobile data (customer base up 14.8%) and mobile money services (customer base up 24.6%). The slowdown in customer base growth was due to new SIM registration regulationsin Nigeria; excluding Nigeria the customer base grew by 15.9%.
Commenting on the company’s performance, Raghunath Mandava, chief executive officer, said “Our Q1’22 results have been very strong, with reported growth of 30.7% in revenue and 42.4% in underlying EBITDA, with constant currency growth of 33.1% and 46.2% respectively. Q1 of last year was impacted by the start of Covid, but even after adjusting for these effects, our Q1’22 revenue growth rates for the Group, service segments and reporting regions were all ahead of Q4’21 trends.
We have posted strong double-digit growth across voice (26.0%), data (37.4%) and mobile money (53.7%), and across all our regions. Sub-Saharan Africa is now experiencing a third wave of the pandemic. Governments are implementing balanced measures of lockdowns and restrictions. But vaccinations levelsremain very low. In these challenging times our business model has so far proven resilient, but we continue to monitor the situation closely for the potential impact on local economies and consumers.
Our total customer base has returned to growth with acceleration in our East Africa and Francophone regions and despite continuing negative net additions in Nigeria. With the easing of these restrictions in late April we have since been able to gradually increase locations for activations in line with regulatory compliance across Nigeria, and we have begun adding new customers.
Our continued focus on modernisation and rollout of our network, along with simplifying our products and improving our distribution, have all helped us to make handsome gains on our ARPUs across voice, data and mobile money. Our robust operating model and solid execution should enable us to continue our profitable growth.
We continue to see huge potential across voice, data and mobile money due to the low penetration levels in Africa, as we continue to partner the nations in bridging the digital divide and enhancing financial inclusion. We remain committed to continue to efficiently and effectively deliver services that help to improve the lives, communities and economies we serve.”
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