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MTN Partners With Ajua To Launch SMEs Engagement Platform

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MTN Nigeria and Kenya’s Ajua have partnered in a new project that will see the companies attempt to address issues currently faced by more than 40 million SME businesses in Nigeria.

The partnership is preceded by the launch of EnGauge, an online eCommerce customer engagement management platform. EnGauge was developed by the two organizations.

According to Ajua, the platform is set to transform how SMEs conduct business in the country. The platform is set to solve 4 of the UNDPs social development goals for Nigeria while also enabling business owners to oversee the smooth administration of transactions and operations of their companies.

The SME market in the West African state is valued at $220 billion annually. Projections have also revealed that businesses with Customer Relationship Management (CRM) have bolstered their productivity by 40 percent.

Thus, the product by Ajua and MTN Nigeria is expected to see notable SME empowerment, besides conducting businesses more efficiently.

MTN EnGauge is available in Android’s Play Store. Ajua says that the the app “offers innovative customer management solutions which include digital payments, CRM tools, customer feedback channels, customer debt management and tracking as well as business and product promotions through mobile and social media channels.”

Once a business has registered its account on MTN EnGauge, it is automatically provided with a unique business code (USSD), which allows their customers to interact, transact and communicate with them in real-time. The solution only available on the MTN network at the moment is accessible with an affordable monthly subscription of N500 and a yearly subscription of N5,500.

The app does not use an internet connection once a business has set it up.

Chief Enterprise Business Officer, MTN Nigeria, Lynda Saint-Nwafor, added that is was the ideal platform for business owners and entrepreneurs to thrive in the ‘new normal’.

“Entrepreneurs have had to re-organise their core business models through backward and forward integration to maintain relevance. The EnGauge mobile application helps make this possible and seamless,” she said.

Founder and Chief Executive Officer of Ajua, Kenfield Griffith, said the app would help solve challenges SMEs experience, from digitally engaging their customers to cash management.

“With MTN as a partner and their reach across the continent, we believe MTN EnGauge will have a positive and impactful trajectory, driving transformational business growth for SMEs,” he added.

The telco added that the solution was downloadable on the Google Play store and only available on the MTN network.

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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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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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Telecom Operators Grapple with Rising Diesel Costs, Spending Hits N50.28 Billion

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Telecommunications - Investors King

As diesel prices continue to soar, Nigeria’s telecom operators are facing mounting challenges with expenditure on fuel hitting N50.28 billion in February.

This represents a 50.20 percent increase from the N33.48 billion spent in the same period last year, reflecting the growing financial burden imposed by escalating fuel costs on the sector.

Diesel serves as a critical component in powering telecom infrastructure, including base stations, which heavily rely on generators due to the country’s unreliable grid electricity.

Industry estimates suggest that operators consume an average of 40 million liters of diesel per month to sustain telecom sites, with prices reaching N1,257.06 per liter in February 2024.

The reliance on diesel for powering essential infrastructure has become increasingly unsustainable, threatening the sector’s operational viability.

Gbenga Adebayo, president of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), emphasized the adverse impact of diesel costs on the industry’s sustainability, noting that infrastructure companies bear the brunt of these expenses.

Adebayo highlighted the urgent need for new pricing regimes to address the widening gap between production costs and current telecom service prices.

While investments in alternative energy sources such as solar power present opportunities for mitigating diesel reliance, challenges such as intermittent supply and vulnerability to theft underscore the complexity of the situation.

The escalating diesel costs have prompted telecom operators to advocate for adjustments in service pricing to ensure the sector’s long-term viability.

As the industry grapples with these challenges, stakeholders are calling for collaborative efforts to address the root causes of the rising fuel expenses and safeguard Nigeria’s telecom infrastructure.

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