Telecommunications

Nigeria’s Internet Subscription Rises to 208.6 Million In July 2022

Nigeria’s Internet subscriptions remarkably rose by 2.7% in the first quarter of 2022

Published

1 year ago

September 5, 2022

Investors King

As more Nigerians continue to surf the Internet, there has been a surge in the number of internet subscriptions.

Nigeria’s Internet subscriptions remarkably rose by 2.7% in the first quarter of 2022, as Nigerian Communications Commission (NCC) reveals that active subscriptions for telecommunications services across the mobile networks of MTN, Airtel, Glo, and 9mobile rose to 208.6 million in July.

Globacom network which recorded the highest gain of 2.1 million subscriptions in the month is said to have driven the increase.

The NCC reveals that telecom operators in the country, recorded a total of 1 million new subscriptions to achieve this new height.

Telecoms giants Airtel, MTN, Globacom, and 9mobile maintained their dominance of the internet market recording a combined 2.5 million increase of the total subscriptions.

The growth recorded by the operators, the country’s teledensity, which measures the number of active telephone connections per 100 inhabitants living within an area, also jumped from 108.15 percent in June to 109.47 percent in July 2022.

VoIP operators, Smile Communications and Ntel accounted for 366, 271 subscriptions while 14,716 were on fixed wired networks of 21st Century and iPNX. Other internet service providers (ISPs) in the country accounted for 210,597 active subscriptions.

Meanwhile, broadband subscriptions, i.e high-speed internet service, also rose to 84.9 million in July from 84.6 million recorded in June this year. This brought the country’s broadband penetration to 44.49%.

MTN Nigeria which is the largest operator by subscriber number maintained its leadership position as it gained 392,440 subscriptions in July, which brought its database to 79.4 million from the 79 million it recorded in June.

Airtel added 90,955 new subscriptions in the month under review but slipped from the second position to become the third-largest operator in the country. The telco’s active customer database rose to 58.2 million at the end of July from 58.1 million in June.

The NCC data showed that the increase in subscriptions for the month of July, was driven majorly by Globacom.

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Telecommunications

Airtel Africa Announces Interim Dividend Amidst Robust Half-Year Performance

Published

3 weeks ago

November 15, 2023

Investors King

Airtel Africa Plc has declared its intention to pay an interim dividend for the half-year period ending September 2023.

The telecommunication giant, listed on both the NGX and the London Stock Exchange, shared this development in a corporate notice titled ‘Announcement of Interim Dividend Currency Exchange Rates’ filed with the Nigerian Exchange Limited on Tuesday.

Airtel Africa disclosed that the interim dividend, amounting to 2.38 US cents per ordinary share, would be disbursed on December 15, 2023, to qualified shareholders.

Notably, shareholders have the option to receive the dividend in US dollars, GB pounds, or Nigerian naira, based on their preference.

The adopted exchange rates for currency conversion were set at 1 USD = 858.24 Nigerian naira and 1 USD = 0.8190 GB pounds.

Airtel Africa emphasized that these rates were determined by the exchange rates applicable to the US dollar as of Friday.

Despite recording a loss after tax of $13 million, primarily attributed to a foreign exchange loss of $471 million in finance costs, Airtel Africa showcased robust performance in its half-year report.

The company reported a 19.7% growth in revenue currency to $2.62 billion, with double-digit revenue growth across all segments.

Mobile services revenue increased by 18.3%, driven by growth in voice and data revenue, while mobile money revenue saw a significant surge of 30.9%.

The company’s EBITDA also exhibited a commendable increase of 21.2%, reflecting a 70 basis points margin improvement over the prior period.

Airtel Africa remains resilient in the face of inflationary cost pressures and foreign exchange headwinds, showcasing a promising outlook for investors.

Telecommunications

MTN Evaluates Exit from Three African Markets Amid Regional Challenges

Published

3 weeks ago

November 13, 2023

Investors King

African telecommunications giant MTN is reportedly contemplating an “orderly exit” from its operations in Guinea-Bissau, Guinea-Conakry, and Liberia, according to a report by Business Insider Africa.

The company, which currently operates in 19 countries across Africa and the Middle East, aims to streamline its portfolio and address challenges in the West and Central Africa (Weca) region.

While the exact reasons for the potential exit remain undisclosed, MTN’s financial reports indicate broader challenges in the Weca segment.

CEO Ralph Mupita highlighted concerns over inflation and currency devaluation in multiple markets.

The company’s 2022 financials revealed a 1.7% decline in EBITDA margin due to pricing pressures, fintech channel subsidies, and macroeconomic hurdles.

Although Guinea-Bissau, Guinea-Conakry, and Liberia contribute only 1.6% to MTN’s total revenue, the move aligns with the company’s strategic focus on optimizing its market presence.

MTN holds a significant market share, approximately 30%, in Guinea-Bissau and Guinea-Conakry, while Lonestar MTN is the second-largest telecom operator in Liberia.

The potential exit reflects MTN’s commitment to adapting its business strategy to navigate the evolving economic landscape and optimize its portfolio for sustained growth.

Telecommunications

Nigeria’s Ministry of Communications Secures N1 Billion for Three Million Technical Talent Program

Published

4 weeks ago

November 8, 2023

Investors King

Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, has announced the acquisition of N1 billion in funding for the implementation of the Three Million Technical Talent program.

During a council meeting with directors of the Information Communication and Technology department in all Ministries, Departments, and Agencies (MDAs) in Abuja, Dr. Tijani emphasized the ministry’s commitment to building Nigeria’s technical talent base, strengthening the nation’s digital economy.

The minister highlighted the critical role of technology in the country’s economic growth and development.

He emphasized that effective collaboration, the creation of an enabling environment, and a workforce of public servants prepared to embrace change are essential to achieving the best results.

Dr. Tijani stated, “The best way to address societal problems is to bring people together to discuss and find solutions. Our meeting must be critical and effective in resolving issues to produce tangible outcomes. This will attract stakeholders and private investors who will provide the necessary resources.”

He emphasized the ministry’s commitment to its mission of training three million individuals, even in the absence of a dedicated budget.

The support of various organizations and companies has made it possible to secure N1 billion for the project, demonstrating the increasing interest and investment in Nigeria’s digital talent and technology initiatives.

Dr. Tijani urged the council to play its part in realizing the administration’s digitization objectives.

He called for the transformation of the civil service to maximize the utilization of limited resources, eliminating outdated practices, such as paper-based documentation, to usher in a new era of efficiency and digital innovation.