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NCC Report: 35,154 Subscribers Migrate Across Networks in Pursuit of Better Service



Telecommunications - Investors King

The latest report from the Nigerian Communications Commission (NCC) reveals that 35,154 subscribers have embarked on a migration journey across networks in pursuit of enhanced service quality within the past year.

The comprehensive statistics, encompassing major players such as MTN, Globacom, Airtel, and 9mobile, span the period from August 2022 to August 2023.

This significant movement reflects consumers’ relentless pursuit of superior network experiences, prompting them to exercise the option of number portability – a mechanism allowing users to switch telecom providers while retaining their existing phone numbers.

At the forefront of this transformative shift is MTN, the telecom giant boasting a substantial market share of 38.58% and a robust subscriber base of 85,005,917 as of August 2023.

The company has emerged as the preferred destination for users seeking a change, recording the highest number of inward porting – a phenomenon where subscribers migrate to a specific network.

The statistical journey commenced in August 2022, witnessing 2,389 subscribers opting for number portability.

This trend persisted through the subsequent months, with September 2022 recording 2,934 migrations, followed by 2,790 in October, 2,299 in November, and 2,826 in December of the same year.

The trend continued into 2023, with January seeing 2,581 migrations, February with 2,021, and March with 2,253.

As the months progressed, the numbers fluctuated to 4,077 in July 2023 and concluded the analyzed period with 2,592 migrations in August 2023.

The appeal of number portability lies in its facilitation of improved service quality, a factor considered crucial by Nigerian subscribers.

The ability to seamlessly transition from one network to another without losing the familiarity of their phone numbers has proven to be a game-changer, particularly in a market with approximately 40 million small businesses.

The report underscores the industry-wide significance of contactless payment solutions, signaling a transformation in Nigeria’s payment landscape.

The emergence of these solutions, including ‘tap on phone,’ ‘QR Pay by link,’ and ‘Payment link’ on smartphones, is poised to empower businesses, especially Small and Medium Enterprises (SMEs), to effortlessly accept card payments at a reduced cost.

The experts participating in the panel session emphasized the potential of Mastercard’s contactless payment solution to drive a low-cost revolution in SMEs’ adoption of digital payments.

With nearly 40 million small businesses in Nigeria, the cost-effective contactless options are expected to facilitate growth by making payment acceptance devices financially feasible for SMEs.

Kari Tukur, Vice-President of Customer Solutions, East and West Africa at Mastercard, expressed the company’s commitment to fostering financial inclusion and economic growth in Nigeria.

As the payments landscape evolves, Mastercard aims to support and accelerate the adoption of innovative payment methods, ultimately creating a digitally inclusive future for all.

In the fast-evolving realm of telecommunications and digital payments, these developments signal a transformative period, underscoring the dynamic preferences and demands of Nigerian consumers and businesses alike.

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MTN Nigeria to Convene Extraordinary General Meeting to Address Capital Loss



Karl O Toriola -

MTN Nigeria, one of the country’s leading telecommunications giants, has announced plans to hold an Extraordinary General Meeting (EGM) with its shareholders to deliberate on strategies for managing the significant capital loss it incurred in 2023.

The decision was disclosed in a corporate notice filed with the Nigerian Exchange Limited on Tuesday and the EGM is scheduled to take place later this month in Lagos.

The primary agenda of the meeting will be to discuss and explore possible measures to mitigate the loss of capital suffered by the company during the financial year ended December 2023.

The telecom giant posted a net loss after tax of N137 billion, largely driven by a N740 billion foreign exchange loss.

Consequently, MTN Nigeria’s retained earnings and shareholders’ fund plummeted to negative N208 billion and N40.8 billion, respectively.

In a statement, Karl Toriola, the Chief Executive Officer of MTN Nigeria, acknowledged the daunting operating environment characterized by inflationary pressures, currency devaluation, and foreign exchange shortages.

Toriola explained that the adverse impact of these factors on the company’s financial performance necessitates a comprehensive reassessment of strategies to navigate the complexities ahead.

Toriola further expressed the company’s commitment to sustaining commercial momentum and accelerating service revenue growth, despite the challenging economic landscape.

The decision not to declare a final dividend for 2023 reflects MTN Nigeria’s prudent approach to prioritizing financial stability and long-term resilience amid ongoing uncertainties.

The upcoming EGM signifies a pivotal moment for the company and its shareholders to collaboratively chart a course towards recovery and sustainable growth.

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NCC Files Copyright Infringement Charges Against MTN Nigeria and Others



Karl O Toriola -

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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MTN’s MoMo Sees 32.2% Surge in Transaction Volumes



MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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