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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.

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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. 

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Telecommunications

MTN Nigeria Grapples with Network Disruptions from Overseas Cable Damage

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MTN Nigeria - Investors King

MTN Nigeria is currently contending with network disruptions stemming from damage to an overseas undersea cable, causing widespread inconvenience for its customers.

The telecommunication giant confirmed the issue in a statement, acknowledging the connectivity disruptions experienced by its subscribers.

Reports indicate that the glitch has affected both voice and data services, resulting in communication disruptions for millions of subscribers across the country.

Subscribers have expressed frustration on social media platforms over the prolonged network outage, with complaints ranging from failed call attempts to concerns about the failure to receive bank alerts.

MTN Nigeria assured its customers that it is actively working to resolve the issue and restore services as quickly as possible.

The telecom operator emphasized the critical importance of consistent internet and communication services, pledging to swiftly address the disruptions.

Efforts are underway to reroute traffic through alternative network paths and expedite the repair process for the damaged cables in collaboration with consortium partners.

Despite the challenges, MTN Nigeria remains committed to minimizing service interruptions and maintaining connectivity for its customers.

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Telecommunications

Airtel Africa Mulls IPO for Mobile Money Unit, Eyeing $4 Billion Valuation

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Airtel Financial Results - Investors King

Airtel Africa Plc, led by billionaire Sunil Mittal, is contemplating an initial public offering (IPO) for its mobile money unit, Airtel Money, in a move that could potentially value the division at over $4 billion.

Sources familiar with the matter revealed that discussions have been held with potential advisers regarding the IPO, with considerations for a listing as early as this year.

While Airtel Africa has not made a final decision on the listing venue, executives are reportedly exploring options across bourses in the United Arab Emirates, London, and Europe.

However, it is cautioned that the firm might ultimately choose not to proceed with the offering, and details regarding the timing and valuation of the IPO remain preliminary.

Airtel Money stands as the telecom operator’s fastest-growing division, experiencing significant traction in Nigeria, its largest market.

The expansion of its mobile money services in Nigeria aligns with the government’s efforts to promote cashless transactions, driving the division’s growth trajectory.

The potential IPO comes on the heels of previous investments in Airtel Money, with TPG injecting $200 million at a valuation of $2.65 billion in 2021, alongside a $100 million investment from MasterCard Inc.

The wireless carrier had previously hinted at a possible listing for the business within four years.

Africa’s burgeoning fintech landscape, coupled with a young population increasingly adopting digital banking solutions, presents a fertile ground for Airtel Money’s expansion.

As of the first half of 2024, Airtel Money recorded a transaction value of $56 billion across its operations in 14 markets, reflecting its significant market presence and potential for further growth.

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Telecommunications

Interswitch Ventures into Telecoms Sector with $1.08 Million MVNO License Acquisition

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interswitch limited

Interswitch, the leading Nigerian payments giant, has made a strategic move into the telecommunications sector by acquiring a Tier 5 Mobile Virtual Network Operators (MVNO) license for ₦500 million ($1.08 million) from the Nigeria Communications Commission (NCC) in May 2023.

This bold step marks Interswitch’s foray beyond its traditional payments domain into providing telecommunications services, leveraging its extensive infrastructure and customer base.

The company’s financial report revealed plans to explore a capital-efficient virtual telecoms model using the acquired license, blending payments and telecoms services for both business-to-business (B2B) customers and consumers.

With the highest tier MVNO license in Nigeria, Interswitch is empowered to negotiate with established telcos in the country and offer asset-light telecom services, particularly in underserved regions.

Interswitch aims to utilize its telco partner’s infrastructure to introduce value-added services to consumer segments traditionally overlooked by mainstream telcos.

This strategic move aligns with Nigeria’s broader objective of increasing mobile connectivity, particularly in rural areas where access remains limited.

The Nigerian telecommunications sector experienced a slowdown in growth recently due to reduced foreign investment, prompting the NCC to issue 25 MVNO licenses in 2023 to foster competition.

Interswitch’s entry into the telco space could inject fresh competition and innovation, leveraging its vast customer base, including over 50 million Verve debit cardholders.

However, to effectively compete in Nigeria’s dynamic telco market, Interswitch will need to offer compelling telecommunications services and forge strategic partnerships with established telcos.

The company’s success in this endeavor will hinge on its ability to introduce innovative communication solutions and value-added services tailored to meet the diverse needs of Nigerian consumers.

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