Connect with us

Telecommunications

Kenyan Mobile Network Operator Company Safaricom Launches Network in Ethiopia

Kenya’s mobile network operator Safaricom has officially launched its network in Ethiopia, which makes it the first private operator in one of Africa’s largest telecom markets.

Published

on

safaricom kenya

Kenya’s mobile network operator Safaricom has officially launched its network in Ethiopia, which makes it the first private operator in one of Africa’s largest telecom markets.

This is Safaricom’s first expansion outside Kenya, where it holds a virtual monopoly in the telecoms and mobile money sectors. Its expansion into Ethiopia will see it compete with the Ethiopian telecommunication company Ethio telecom, previously known as the Ethiopian Telecommunications Corporation.

The state-owned Ethio Telecom has for a long time operated as a monopoly telecoms company, with 54 million subscribers in Ethiopia.

Following Safaricom’s launch in Ethiopia, the network operator intends to roll out its services in 14 cities between now and April 2023 to cover 25 cities, so as to enable it to meet the 25% population coverage obligation in its license.

Speaking on its launch in Ethiopia, the CEO of the company Peter Ndegwa said, “Today I am delighted for the opportunity for Safaricom Ethiopia to start serving the people of Ethiopia with high-quality telecommunications services.

“We look forward to sharing our vision of Transforming Lives with Ethiopians, working together to uplift communities, and creating opportunities through the transformative power of the mobile phone.

“We are optimistic about how the technology and connectivity we are providing will contribute to a digital future and eventually transform people’s lives through digital solutions.”

“We have deepened digital and financial inclusion in Kenya by connecting people to people, people to opportunities, and people to information.

“With these lessons and experiences, we look forward to positively impacting the people of Ethiopia with a sustainable and quality mobile network that will be a vital launch pad for nationwide digital telecommunications services to over 118 million Ethiopians.”

Experts have disclosed that Safaricom’s expansion of its network into Ethiopia can be a potential win for the company, if it can replicate its successes in Ethiopia outside Kenya where it has strong dominance in the Kenyan market, both in the Telecommunications Industry and in mobile money,  Investor King understands.

The Safaricom network will offer 4G data, voice, and SMS services between Safaricom Ethiopia and Ethio Telecom customers.

Continue Reading
Comments

Telecommunications

MTN to Bid For Second 5G Spectrum; Other Telcos Protest

MTN to bid for a second 5g spectrum on December 16, 2022

Published

on

MTN Nigeria - Investors King

Nigerian mobile telecommunications company, MTN has showcased a potential interest to bid for a second 5G spectrum in the forthcoming auction which is scheduled for December 19, 2022.

The potential bidding however has been opposed by other telecommunication companies which claimed the move is against the spirit of competition. 

Investors King could recall that MTN and Mafab Communications won the first 3.5GHz spectrum license for a 5G network which was auctioned in December 2021 by the Nigerian Communication Commission (NCC).

The highly competitive auction which took place at the Transcorp Hilton Hotel in Abuja also witnessed the participation of Airtel

Subsequently, in September 2022, MTN finally launched the 5G network to boost internet speed in Lagos, Abuja, Port Harcourt, Ibadan, Kano, Owerri, and Maiduguri.

However, to access the 5G network, users will need to have compatible devices which is a bit expensive for average Nigerians.

To this end, MTN thereafter partnered with a phone financing company, Intelligra to bridge the cost of 5G-enabled smartphones. 

According to MTN Chief Marketing Officer, Adia Sowho, the partnership with Intelligra is aimed to drive 5G adoption in Nigeria. 

Meanwhile, barely two months after MTN launched its 5G network, the leading telecommunication company in Nigeria has showcased a potential bid for the second spectrum which is scheduled to hold on Friday. 

At a stakeholders engagement meeting organised in Lagos, MTN’s General Manager, Regulatory Affairs, Ikenna Ikeme, said the company had entered the last auction in 2021 with the expectation that it was an open market and it would be allowed to participate in other auctions should the need arise.

This, however, did not go down well with other telecommunication companies which claimed that should MTN be allowed to participate in the second auction and eventually win, it will make them dormant players which could affect the overall growth of the industry. 

The Executive Vice Chairman of NCC, Umar Garba Danbatta who presided over the engagement session noted that all contending issues will be given due consideration before the auction on Friday. 

Continue Reading

Telecommunications

Access Bank, Zenith Bank, Others Activity Level Jump Despite Stock Market Negative Close

Investors transacted 187,094,282 shares worth N2.535 billion in 3,326 transactions with Access Bank accounting for 87,923,339 shares valued at N704,474,274.95

Published

on

Stock - Investors King

Despite the Nigerian Exchange Limited (NGX) opening in the red on Monday, activity on Access Bank continued to increase while Zenith Bank and others followed closely.

Investors transacted 187,094,282 shares worth N2.535 billion in 3,326 transactions with Access Bank accounting for 87,923,339 shares valued at N704,474,274.95. This may not be unconnected to Herbert Wigwe’s recent acquisition. The Chairman, Access Holdings Plc has dumped almost a billion on Access Bank stocks in the last one month.

The banking index appreciated by 26 basis points (bps) on 3.48% and 1.42% gain in the value of Union Bank of Nigeria and Sterling Bank.

The consumer goods index and industrial index were unchanged on Monday. The oil and gas shed 38 basis points on 2.56% decline in Oando.

The market vaue of all listed equities stood at N23.867 trillion, a decline of N82 billion from N23.949 trillion it closed on Friday. The NGX All-share index shed 0.34% from 43,968.75 index points it settled last week to 43,818.12 index points.

The Exchange Yea-to-date return declined to 2.58% as only 13 stocks closed in the green against another 13 that lost points. See other details below.

Top Five Gainers

Symbols Last Close Current Change %Change
FTNCOCOA N 0.31 N 0.34 0.03 9.68 %
CHIPLC N 0.58 N 0.62 0.04 6.90 %
MANSARD N 1.53 N 1.62 0.09 5.88 %
CHAMS N 0.24 N 0.25 0.01 4.17 %
UBN N 5.75 N 5.95 0.20 3.48 %

Top Five Losers 

Symbols Last Close Current Change %Change
JOHNHOLT N 0.81 N 0.73 -0.08 -9.88 %
SCOA N 1.75 N 1.58 -0.17 -9.71 %
PRESTIGE N 0.39 N 0.36 -0.03 -7.69 %
UNITYBNK N 0.57 N 0.54 -0.03 -5.26 %
AFRIPRUD N 5.35 N 5.10 -0.25 -4.67 %

Top Five Trades

Symbols Volume Value
ACCESSCORP 87923339.00 704474274.95
ZENITHBANK 19323689.00 385788915.25
TRANSCORP 10679983.00 11613144.33
UNITYBNK 10175240.00 5339887.59
NGXGROUP 5255594.00 112846073.20

Continue Reading

Telecommunications

About 9.7 Million Phone Numbers Barred From Making Calls

Around 9.7 million phone numbers were barred by the two largest telecommunications companies in Africa.

Published

on

MTN

Two leading mobile telecommunications networks in Nigeria, MTN and Airtel have barred about 9.7 million phone numbers from making calls due to issues related to National Identification Numbers. Earnings reports filed to the Securities and Exchange Commission (SEC) show. 

Investors King gathered that in April 2022, more than 72 million phone numbers were barred from making calls. The directive to barn phone numbers that were not linked to their National Identification Number came from the Federal Government through the Nigeria Commission Commission (NCC). 

A joint statement released by the spokespersons of NCC, Ikechukwu Adinde, and National Identity Management Commission (NIMC), Kayode Adegoke partly read: 

“Outgoing calls will subsequently be barred for telephone lines that have not complied with the NIN-SIM linkage Policy from the 4th of April, 2022. Subscribers of such lines are hereby advised to link their SIMs to their NINs before the Telcos can lift the restriction on their lines,”. 

The statement added that the president has approved the implementation of the policy after the deadline has been extended on several occasions. 

The federal government had earlier stated that the policy will help the government to fight insecurity, particularly bandits and terrorists. 

Meanwhile, both MTN and Airtel have revealed that the policy has eaten deep into their profit as almost 10 million phone subscribers could not make outgoing calls. 

A look at the two telecoms eating reports shows that while 16. 2 million subscribers who had their lines barred have submitted their NINs for verification only 6.5 million had been verified as of September 30, 2022

Leaving about 9.7 million phone subscribers in the cold despite submitting their NIN for linkage. A responsibility that is expected of the National Identity Management Commission

Revenue growth for the first half of the year was impacted by the effect of barring outgoing voice calls in Nigeria for those customers who had not submitted their NINs, Airtel noted in its report. 

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending