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NCC Announces Massive Growth in Telecommunication Industry For 2022

MTN stays top of the list of mobile subscribers with 86.44 million subscriptions, followed by Globacom with 59.95 million subscriptions while Airtel has 59.38 million mobile subscriptions and 9mobile has 12.84 million.

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The Nigerian Communication Commission (NCC) has announced a growth in the number of mobile subscriptions in Nigeria by 23.48 million from January to November 2022.

According to the industry’s latest statistics, this pushes the total number of mobile subscriptions in the country to 218.61 million, a new record high.

Investors King reports that MTN stays top of the list of mobile subscribers with 86.44 million subscriptions, followed by Globacom with 59.95 million subscriptions while Airtel has 59.38 million mobile subscriptions and 9mobile has 12.84 million.

According to telecommunication companies, the reason for sustained growth in mobile subscriptions can be linked to a restriction on outgoing calls on SIMs that have not been linked with their National Identification Number

In April 2022, the Federal Government had directed telecos through a joint statement signed by the Director of Public Affairs of the NCC, Dr Ikechukwu Adinde, and the Head, Corporate Communications at the Nigeria Identity Management Commission, Mr Kayode Adegoke, to enforce compliance with its National Identification Number-Subscriber Identity Module policy and restrict outgoing calls on all unlinked SIMs.

“President Muhammadu Buhari has approved the implementation of the policy with effect from April 4, 2022. Consequently, the Federal Government has directed all telcos to strictly enforce the policy on all SIMs issued (existing and new) in Nigeria.”

GSMA, the global body for telecos had confirmed that Nigeria has the largest mobile population in Africa and is expected to continue to grow while attributing mobile subscription growth to the country’s young population.

It explained that many individuals in the country are under 18 and are crossing into adulthood and subscribing to mobile services noting that 18 million new Nigerians will become unique telecom subscribers by 2025.

“By 2025, mobile’s contribution will grow by $65bn (to almost $155bn), as the countries in the region increasingly benefit from the improvements in productivity and efficiency brought about by the increased take-up of mobile services.”

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

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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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