Connect with us

Technology

Innovation is Vital to Drive Internet Connectivity in Africa

Published

on

communication-satellite

Greater innovation from telecoms and technology companies is vital to drive the expansion of internet connectivity in Africa,  new research for blockchain-based mobile network operator World Mobile shows.

Its study with African business leaders found nearly two out of three (65%) worry that a lack of infrastructure is stopping traditional telecom companies from delivering the internet connectivity the continent needs.

But they are optimistic that innovation from new entrants will achieve dramatic improvements. Nearly three-quarters (71%) say new approaches are expanding internet connectivity to hard-to-reach areas more affordably.

The study with African business leaders from companies with combined annual revenues of more than $6.75 billion found that executives believe the expansion of the African middle class coupled with Government support is driving demand for innovation.

Two-thirds (66%) believe connectivity will improve over the next five years with a quarter (24%) expecting dramatic improvements, the research among senior executives at companies based in Tanzania, Angola, Botswana, Cameroon, Ethiopia, Ghana, Nigeria, and South Africa shows.

African business leaders believe the biggest benefits of expanding connectivity will be growing internal trade on the continent which was highlighted by 78%. Around 75% pointed to growth in international trade, while 55% however say better education and healthcare.

Micky Watkins, CEO of World Mobile said: “There is growing confidence that Africa is on the verge of a revolution in internet connectivity with innovators such as World Mobile responding to the huge growth opportunities across the continent and Government support.

“However, the research with business leaders detects some scepticism with more than a quarter of senior executives saying they expect no change in connectivity over the next five years and pointing to potential roadblocks such as bureaucracy and a lack of innovation.”

“Improving internet connectivity is vital to delivering the potential of Africa, which is not just good for global economic growth but also for improving living standards across the continent and we are focused on playing our part in supporting innovation.”

World Mobile is helping to revolutionise internet connectivity in sub-Saharan Africa and is already working with the government in Zanzibar where it is launching a unique hybrid mobile network delivering connectivity supported by low altitude platform balloons.

The blockchain-based network vastly reduces capital expenditure and cuts prices compared to traditional telecom operators and World Mobile is in  discussions to expand in Tanzania and Kenya, as well as other territories underserviced by traditional mobile operators.

Its balloons will be the first to officially launch in Africa for commercial use, offering a more cost-effective way to provide digital connection to people and is the first step in its mission to help bring nearly four billion people online before 2030 in line with the UN and World Bank’s SDGs.

The World Mobile approach is more sustainable, in environmental, social and governance terms. Environmental impacts are mitigated using solar-powered nodes, second-life batteries, and energy-efficient technology. World Mobile creates a positive societal impact through the application of its circular economy model – a “sharing economy” where locals share in the ownership and rewards of the network.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Technology

Nigeria Approves Microsoft Agreement, Others to Accelerate 5G Deployment

In a move to accelerate the deployment of 5G services, the Federal Government has approved Enterprise Licensing Agreement for Microsoft products and clearing up of the C-band spectrum.

Published

on

microsoft - Investorsking

In a move to accelerate the deployment of 5G services, the Federal Government has approved Enterprise Licensing Agreement for Microsoft products and clearing up of the C-band spectrum.

The approval was after Isa Pantami, the Minister of Communications and Digital Economy presented three memos to the Federal Executive Council (FEC) on June 29, 2022.

Femi Adeluyi, the Technical Assistant (Research and Development) to the Minister of Communications and Digital Economy, disclosed in a statement issued after the approval.

The Government-wide Enterprise Licensing Agreement for Microsoft products will help reduce the cost of information technology projects, while the C-band migration is expected to aid the deployment of the 5G network.

Explaining the benefits of the agreements, Adeluyi said “The Agreement will give the government access to discounted prices and other cost benefits, as well as reduce project duplication across Federal Public Institutions (FPIs).

“It will also guarantee proper technical support for Microsoft products and services, thereby ensuring protection against cybersecurity threats, which will guarantee availability and reliability of government IT services.

“The Enterprise Licensing Agreement will provide a projected savings of a minimum of 35% of Governments current investment in Microsoft Products and Services.

“This will not only substantially reduce the cost of license procurement for FPIs, it will reduce and simplify licensing complexity, facilitate accounting and cash flow predictability and monitor utilisation and impact of Government investment.”

The statement added that the Federal Executive Council has directed all Federal Public Institutions to start taking advantage of the agreement by using Microsoft licenses and services.

Continue Reading

Telecommunications

Nigeria’s Data Consumption Jumps 413.79%

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

Published

on

Broadband Penetration - Investors King

Data consumption in Africa’s largest economy Nigeria rose by 413.79% in the last four years, according to the latest data from the Nigerian Communications Commission (NCC).

In the last four years, Nigeria’s internet population grew by 41.38 million while Nigeria’s internet data usage increased to 350,165.39 terabytes in 2021, up from 68,154.12 terabytes in 2018.

During the period under review, broadband penetration rose to 40.88% or 38.12 million users in 2021 from 19.97% or 78.04 million users in January 2018.

NCC data showed GSM internet subscribers grew by 41.39 million from 100.23 million in 2018 to 141.62 million in 2021.

This, experts attributed to growing smartphone penetration and more access to data in Africa’s largest economy.

“Smartphone penetration was up by one percentage point to 33 per cent and our data customer base grew by 14.5 per cent, now representing 34.3 per cent of our total customer base,” Airtel stated in a report.

“Data usage per customer reached 2.6 GB per customer (from 1.8 GB per customer) led by an increase in smartphone penetration and expansion of our home broadband and enterprise customers.

“This helped us grow data revenue 31.2 per cent in constant currency. Growing penetration and usage of 3G and 4G data customers helped us grow data ARPU 8.2 per cent. Fourth Generation data usage more than doubled in the year, contributing 62.2 per cent of total data usage on the network in Q4’21.”

The telecommunication giant further added that “Our improved 4G network contributed to an increase in smartphone penetration, in data customers and in up-take of large data volumes, resulting in greater data consumption per customer.”

Continue Reading

Fund Raising

Nigerian Mobility Startup, Moove Secures $20M Financing From BII to Scale Operations in Nigeria

Published

on

Moove

Moove, a mobility fintech democratising access to vehicle ownership in Africa has secured US $20 million in a 4-year structured credit investment from British International Investment (BII), the UK government’s Development Finance Institution (DFI), formerly known as CDC Group.

Moove is democratising access to vehicle ownership by providing revenue-based vehicle financing and financial services to mobility entrepreneurs. The mobility fintech is creating sustainable employment opportunities to empower those otherwise excluded from financial services by embedding its alternative credit scoring technology onto ride-hailing, e-logistics and instant delivery platforms, and using proprietary performance and revenue analytics to underwrite vehicle loans.

Since its launch in 2020, Moove has rapidly expanded its operations within Nigeria and has entered into new African markets including Ghana, Kenya, Uganda and South Africa, as well as Europe, Middle East and Asia markets.

According to the mobility company, the collaboration between Moove and BII reflects BII’s focus on mobilising capital to build self-sufficiency and market resilience in Nigeria and improve access to inclusive economic opportunities while helping to catalyse the country’s boundless entrepreneurial ambition.

Investors King gathered that Moove was the first business to qualify for BII’s BOLD (Black Ownership and Leadership Development).

Speaking on the new funding, Ladi Delano, co-founder/ co-CEO at Moove, said, “we’re incredibly proud to welcome onboard a world-class partner such as BII, whose strategic support will play a key role in our mission to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs.

“With our new funding, we’re now in an even stronger position to use our technology and productivity data in creating a more inclusive financing ecosystem, whilst also tackling the unemployment problem affecting over a third of Nigerians by generating the opportunity for more seamless and sustainable employment.”

The CEO of BII, Nick O’Donohoe commented on how BII’s new five-year strategy is driving its investment in the world’s first mobility fintech.

“Investing in the prosperity of Nigeria’s growing population requires innovative new partnerships that can leverage the country’s abundant capabilities and expertise. In Moove, BII has a partner that aligns with our commitment to back dynamic tech-enabled businesses that can help accelerate impact in Nigeria by strengthening the country’s informal transport industry,” he said.

“I am delighted that not only will BII’s investment help to create jobs and provide entrepreneurial self-starters with the means to own their vehicles, but Moove’s clear focus on gender diversity will foster inclusive economic opportunities for women, both within the company’s workforce and among its drivers,” he added.

Nigeria is the BII’s biggest investment market in Africa, with a portfolio of nearly US $570 million, through more than 100 businesses and 43 funds, which collectively support almost 45,000 jobs across the country in 2020.

Continue Reading




Advertisement
Advertisement
Advertisement

Trending