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Tizeti Launches NeXTGEN Connectivity Solutions to Address Post-Pandemic ‘New Normal’

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Tizeti - Investors King

To enable more Africans to take advantage of digital offerings in a new world defined by the Covid-19 pandemic, West Africa’s pioneer solar-based internet and voice service provider, Tizeti, has launched new connectivity offerings.

The new products encompass the company’s commitment to widening the broadband envelope in Nigeria with more robust internet plans, expanding coverage, especially in Nigeria, Africa’s most populous country, and a focus on accelerating internet availability across the continent with a new venture fund. The products also reiterate the company’s focus on delivering a simpler and more convenient technology offering with a smart customer care operation and integrated Customer Relationship Management systems.

Speaking at the company’s annual conference, Tizeti NeXTGEN, the company’s Chief Executive Officer, Kendall Ananyi said the company reflected on digital interaction and transformation more seamless and intuitive for its stakeholders, especially during the wake of the disrupting global pandemic.

“The global pandemic expedited the need for technology to be more agile, faster, more intuitive, and easier to understand, irrespective of the peculiarities of its users. Many people were unable to quickly adapt to the new normal of working, connecting to family and colleagues remotely, and accessing various educational, occupational, entertainment, and other services virtually. Many firms took an unnecessarily long time to adjust to the constraints the pandemic brought, and this resulted in declined productivity, ineffective transformation, and lost revenue. Technology is only useful when it is creating solutions to problems and we believe that as a leader in the digital space in West Africa, we have a role to build the technology platforms that will allow our user base to be agile and relevant in the coming years. We saw the transition from physical everything to the work-from-home model overnight and knew that we had to help people and businesses change the way they work and play”.

Ananyi continued “This is why we have launched new voice and data service for residential, small, medium, and enterprise organizations within Nigeria. Our brand-new Turbo 100MBps Unlimited Internet Plans in Lagos will guarantee 100Mbps unlimited plans (which is 50 times faster than the existing plans in the market), with a free three months pilot to the first 100 signups in the Lekki area.”

Ananyi also talked up the company’s desire to empower more Nigerians, stimulate economic activities and provide unlimited access to affordable and reliable broadband services by widening the broadband envelope to 10 new cities in Nigeria. “We are expanding our unlimited internet plans, currently available in cities in Lagos, Ogun, Rivers and Edo States, to Abuja, Ibadan, Kaduna, Kano, Warri/Asaba, Eket/Uyo, Onitsha, Aba, Enugu, and Calabar. We are building brand-new, solar-powered, 4G-capable towers in these cities and leveraging expansive fiber-networks built by some of our partners, to enable us to roll out our low-cost broadband service, and bring millions of people online, who can now take advantage of the life-changing socio-economic opportunities that access to the Internet provides.”

The company announced it’s partnership with a $5m venture fund focused on startup ISPs that are expanding internet access across Africa. According to the company’s Chief Operating Officer, Ifeanyi Okonkwo, the company will leverage its proprietary OS technology, global partnerships with equipment vendors, submarine cable companies, payment providers, and Venture firms to provide the resources for these startup ISPs to accelerate the availability of unlimited internet across the continent. Successful startups will participate in a 3-months programme with at Tizeti’s location in Nigeria or Ghana where they are expected to gain the knowledge and expertise to rapidly launch affordable internet services in their respective countries.

Tizeti has also simplified its customer experience with a Smart Interactive Voice Response Service that extends its existing Wi-Fi Voice APIs and authenticates callers into their call centers using their phone numbers. This smart IVR reduces wait times and the need to talk to customer service agents by providing tailored information on account holders while on the phone call. The company also extended this innovation to its Integration to major Customer Relationship Management systems such as Freshdesk, Zoho, and Bitrix 24. This new feature allows businesses to make and receive calls directly from their CRM applications using Wificall.ng at local call rates.

“Tizeti was built to tackle poor internet connectivity not only in Nigeria but on the continent as a whole, by developing a cost-effective solution from inception to delivery, for reliable and uncapped internet access for potentially millions of Africans”, said Ananyi. “Over the past years, we have been able to roll out our superfast broadband services in Lagos, Ogun, Rivers, and Edo state to address the huge demand for reliable unlimited internet service. This move to expand rapidly to 10 other states builds on the successes and allows us to expand quickly to Tier 2 and Tier 3 locations outside the unlimited broadband internet envelope. We also have our eyes on accelerating our expansion in other West African countries, over the next few years”, he said.

Other speakers at Tizeti NeXTGEN include Yinka Adewale, co-founder/Chief Executive Officer, Kudi; Akin Jones, co-founder/Chief Executive Officer, Aella App; Dr. Femi Kuti, Chief Executive Officer, Reliance Health, Eniola Campbell, Country Managing Director, Nokia Nigeria, and Olubunmi Ogun, Deputy General Manager, Nigeria Sales, MainOne.

For many countries in Africa, there is still a huge digital divide. Tizeti is playing a significant role in addressing this digital infrastructure deficit in Africa with innovative technology and capabilities, to improve development outcomes for millions of people, with better outcomes for employment, education, family and social life, and access to information.

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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Telecommunications

MTN Nigeria to Convene Extraordinary General Meeting to Address Capital Loss

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Karl O Toriola - Investorsking.com

MTN Nigeria, one of the country’s leading telecommunications giants, has announced plans to hold an Extraordinary General Meeting (EGM) with its shareholders to deliberate on strategies for managing the significant capital loss it incurred in 2023.

The decision was disclosed in a corporate notice filed with the Nigerian Exchange Limited on Tuesday and the EGM is scheduled to take place later this month in Lagos.

The primary agenda of the meeting will be to discuss and explore possible measures to mitigate the loss of capital suffered by the company during the financial year ended December 2023.

The telecom giant posted a net loss after tax of N137 billion, largely driven by a N740 billion foreign exchange loss.

Consequently, MTN Nigeria’s retained earnings and shareholders’ fund plummeted to negative N208 billion and N40.8 billion, respectively.

In a statement, Karl Toriola, the Chief Executive Officer of MTN Nigeria, acknowledged the daunting operating environment characterized by inflationary pressures, currency devaluation, and foreign exchange shortages.

Toriola explained that the adverse impact of these factors on the company’s financial performance necessitates a comprehensive reassessment of strategies to navigate the complexities ahead.

Toriola further expressed the company’s commitment to sustaining commercial momentum and accelerating service revenue growth, despite the challenging economic landscape.

The decision not to declare a final dividend for 2023 reflects MTN Nigeria’s prudent approach to prioritizing financial stability and long-term resilience amid ongoing uncertainties.

The upcoming EGM signifies a pivotal moment for the company and its shareholders to collaboratively chart a course towards recovery and sustainable growth.

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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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