Connect with us


5G to Overtake 4G in 2029 to Become The Dominant Mobile Technology



5G - Investors King

A recent report by GSMA has revealed that 5G will overtake 4G in 2029 to become the dominant mobile technology.

The report reveals that the rollout and adoption of 5G technology have been faster than that of previous mobile network generations.

As of January 2023, there were 229 commercial 5G networks around the world, and over 700 5G smartphone models have been launched, including more than 200 in 2022.

The technology has continued to see a growing adoption across countries in the world, due to the deployment of new networks and cheaper devices. Throughout 2023, some 30 new markets will launch 5G mobile services, importantly, many of these will be developing markets across Africa and Asia, making 5G a truly global technology and taking the total number of connections to 1.5 billion by the end of the year.

As 5G adoption continues to scale, the monetization imperative will grow. Awareness of the technology is high, but a significant share of consumers still do not see a reason to pay a premium to upgrade from previous generations. GSMA Intelligence survey

evidence states that around 50% of people see 5G as predominantly a speed upgrade rather than something genuinely new compared to 4G.

This has led to increasing competition and price pressure, which can be seen in the form of retail prices for 5G tariffs that are often on a par with those for 4G (or at a small premium).

However, the number of connections on legacy networks such as 2G and 3G has been predicted to continuously decline in the coming years as users migrate to 4G and 5G resulting in more network shutdowns.

To date, operators have announced plans to shut down 96 2G networks and 107 3G networks around the world. In the coming years, operators will shift their focus to driving 5G adoption, following significant capital outlays. The technology has already become mainstream in several markets, notably South Korea and the US, where 5G now accounts for more than 40% of total connections.

Meanwhile, Investors King understands that while the rest of the world races to deploy the next-generation 5G technology, Africa still lags behind the rest of the world in the adoption of the 5G technology.

In sub-Saharan Africa, the rollout is expected to follow a phased approach, differing from the rapid population coverage seen in more advanced markets. The implementation of the fifth-generation network in the region will likely take time, allowing for infrastructure development and gradual adoption.

Some of the reasons for this delay include the unavailability of the 5G spectrum, uncertainty over auction dates, and high investment for 3G/4G networks.

Also, some of the continent’s biggest telecoms companies such as MTN and Safaricom are creating space for the growth and expansion of 5G infrastructure, but the low penetration of 5G devices, which is unaffordable to many, has hampered the spread of mass adoption.


Nigerian Autotech Startup, Fixit45, Secures $1.9 Million for East Africa Expansion




Nigerian autotech startup Fixit45 has successfully secured $1.9 million in equity and working capital to fuel its ambitious expansion plans into East Africa.

The funding round, spearheaded by Launch Africa Ventures, witnessed significant participation from notable investors, including Soumobroto Ganguly and Dave Delucia, alongside a diverse group of angel investors.

In a press release issued on Wednesday, Fixit45 underscored the significance of this capital infusion as a substantial stride towards broadening its footprint and influence within Africa’s thriving automotive aftermarket industry.

The company revealed that these funds have been earmarked to fuel its strategic expansion initiatives, with a particular emphasis on fortifying its automotive repair business.

Fixit45 also shared its unwavering commitment to enhancing its spare parts distribution capabilities through its online-to-offline platform, With a keen eye on the East African market, Fixit45 has set its sights on Kenya and Uganda.

Co-founded by visionaries Chioma Ahueze-Okochukwu, Goodluck Ikporo, and Pankaj Bohhra, Fixit45 offers a unique platform that empowers car owners to seamlessly connect and engage with a vast network of aftermarket stakeholders.

This extensive network encompasses automobile service providers, specialized technical teams, spare parts suppliers, and end-consumers.

Pankaj Bohhra, one of the co-founders of Fixit45, expressed his enthusiasm, stating, “This funding represents a pivotal moment for Fixit45. We are profoundly grateful to our investors for their faith in our vision and our unwavering commitment to revolutionizing the African automotive aftermarket sector. With this capital infusion, we are well-positioned to advance towards our expansion objectives.”

Fixit45’s strategic move into East Africa holds the promise of ushering in transformative developments in the automotive industry across the region.

As the company intensifies its efforts, the future of automotive repair and spare parts distribution in East Africa appears poised for a remarkable evolution. Stay tuned for more exciting updates as Fixit45 continues to make waves in the autotech sector.

Continue Reading


Payday’s $3 Million Seed Round: From Hope to Headaches



PAYDAY-Africa-Investors King

Six months after securing $3 million in a seed round led by Moniepoint, Nigerian fintech startup Payday finds itself embroiled in controversy and uncertain about its future.

Founder and CEO, Favour Ori, confirmed that the company is actively engaged in discussions with potential buyers.

In March, reports surfaced that Moniepoint was in talks to acquire Payday, with an expected deal closure within three months. However, the deal fell through, reportedly due to Moniepoint’s board’s lack of enthusiasm. Despite this setback, negotiations to sell the company continue.

Payday faced a wave of negative publicity in August after suspending access to customer accounts following fraudulent activities that resulted in customer losses. The company was accused of misappropriating customer funds before acknowledging the account restrictions.

Internal issues further marred the company’s reputation, especially after Payday implemented contentious salary reductions for some Nigerian staff in July and failed to issue promised stock options to affected employees.

This led to dissatisfaction and several employee departures.

Payday’s COO, Ogechi Obike, also departed, citing goal misalignment and clashes with Favour Ori.

Accusations arose that Favour marginalized Obike in crucial meetings and decision-making processes.

Favour Ori’s management style came under scrutiny, with allegations of impulsiveness and a lack of transparency.

Employees claimed that he hired top talent but stifled their input, resulting in customer disruptions, including difficulties creating virtual cards and accessing accounts.

Amid these controversies, Favour Ori has reduced his involvement in the company, focusing on external work with GitHub while the co-founder, Elijah Kingson, is employed at Revolut.

Payday’s future remains uncertain, with the potential sale of the company and the need to regain customer trust and employee satisfaction hanging in the balance.

The company faces the challenge of restoring its reputation and stability while navigating a tumultuous period in its young history.

Continue Reading

Social Media

Meta Announces Upcoming Business Verification and Innovative Features for WhatsApp




Meta, the parent company of Facebook, on Tuesday announced plans to commence verification of businesses on WhatsApp.

Nikila Srinivasan, Meta’s Vice President of Business Messaging, shared the exciting news.

Meta’s aim is to bolster user trust through platform-granted verifications, signify the legitimacy of businesses and assure users of their authenticity.

To attain this coveted Meta verification, businesses must substantiate their credibility to Meta, reaping rewards such as a verified badge, enhanced account support, and safeguarding against impersonation.

Srinivasan further elaborated on the forthcoming features, stating, “For businesses interested in signing up, Meta Verified will offer additional premium features. These include the ability to create a customized WhatsApp page that can be easily discovered through web searches, as well as multi-device support, enabling multiple employees to efficiently respond to customer inquiries. We plan to initiate testing of Meta Verified with small businesses using the WhatsApp Business app before extending it to businesses on the WhatsApp Business Platform in the near future.”

In addition to the verification system, Meta also unveiled another exciting feature called “Flows.” This innovation will empower businesses to provide a comprehensive range of services without requiring users to leave the chat.

Srinivasan explained, “With Flows, businesses will have the capability to offer rich menus and customizable forms to cater to diverse user needs. We aim to make Flows available to businesses worldwide through the WhatsApp Business Platform in the coming weeks.”

This strategic move by Meta not only bolsters the credibility of businesses on WhatsApp but also introduces user-friendly features that are expected to enhance the overall user experience.

As Meta continues to invest in evolving its platforms, business owners and users alike can look forward to an increasingly innovative and secure WhatsApp environment.

Continue Reading