Gambia’s Minister of communications and Digital economy Ousman Bah has commended the Nigerian Communications Commission (NCC) for its remarkable achievement so far in the telecoms industry and is, therefore seeking a partnership.
He disclosed this at Abuja during the weekend when he paid a visit to the NCC with a team of Gambian delegation.
The Minister stated that the Nigerian telecoms industry has become a reference point and is therefore seeking to partner with the NCC to replicate the same success in Gambia.
He further stated that the current telecommunications statistics are proof that Nigeria is achieving its digitalization plans.
Director of Legal and Regulatory Services at NCC Josephine Amuwa, who received the minister on behalf of Prof. Umar Danbatta, the Executive Vice Chairman of NCC, highlighted the impact of the Nigerian Communications Act (NCA) 2003.
She said the NCA Act of 2003 empowers the Commission to effectively carry out its regulatory mandate, one of which is to create an enabling environment for competition among operators in the industry as well as provision of qualitative and efficient telecommunications services throughout the country.
She, therefore, urged the Gambian delegation to check out the NCC’s website, and carefully study the regulatory guidelines on all necessary matters.
Mrs. Josephine Amuwa explained that the guidelines give full effect to the provisions and administration of the NCA 2003.
Investors King understands that in 2021, Nigeria’s telecoms industry recorded N3.246 trillion in revenue with a total operating cost of N1.7 trillion despite operating in an unfriendly environment.
In 2022, the industry continued on its growth trajectory with a significant contribution to Nigeria’s GDP. The industry grew by 3.11 percent in the first quarter of 2022, the highest quarterly growth recorded in 7 years. In Q2 of 2022, the sector attracted a total of $153.5 million in capital.
According to the NCC boss Prof. Umar Danbatta, Nigeria’s Telecoms industry has contributed over $70 billion to the nation’s economy, creating thousands of jobs in the public and private sectors.
Airtel Africa Announces Interim Dividend Amidst Robust Half-Year Performance
MTN Evaluates Exit from Three African Markets Amid Regional Challenges
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.
Nigeria’s Ministry of Communications Secures N1 Billion for Three Million Technical Talent Program
Nigerian Exchange Rebounds with N166bn Gain, Led by Key Banking and Tech Stocks
Nigeria’s Commercial Papers Surge to Over N1 Trillion
Nigeria’s FX Reserves Dwindle by $1.6 Billion Amid Unification Efforts, Straining Naira
Business3 weeks ago
Nigeria’s Logistics Sector Holds Untapped N3tn Potential, Says Courier and Logistics Management Institute
Black Market Rate3 weeks ago
Black Market Exchange Rate Today 14th November 2023
News3 weeks ago
Millionaire Powerplay Limited Unveils Unprecedented Odds in American Lotto’s Instant Cashless Payout
News4 weeks ago
N-Power Batch C1 Programme Successfully Concluded, Investigation Ensures Eligible Beneficiaries Receive Payments
Black Market Rate4 weeks ago
Black Market Exchange Rate Today 9th November 2023
Forex3 weeks ago
Black Market Exchange Rate Today 16th November 2023
Forex4 weeks ago
Black Market Exchange Rate Today 10th November 2023
Forex4 weeks ago
Black Market Exchange Rate Today 8th November 2023