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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

Airtel Africa Announces Interim Dividend Amidst Robust Half-Year Performance

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Airtel Financial Results - 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.

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MTN Evaluates Exit from Three African Markets Amid Regional Challenges

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MTN Nigeria - 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.

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

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Telecommunications - 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.

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