The Nigerians Communications Commission (NCC) has granted licences to 25 companies to offer telecom services under the Mobile Virtual Network Operators (MVNO) framework.
What is an MVNO? A Mobile Virtual Network Operator is a company that provides wireless communication services without owning the underlying network infrastructure used to serve its customers.
The newly licensed companies will offer services similar to other telecommunications providers like MTN, 9mobile, Airtel, and Globacom, despite not having their own infrastructure. Instead, they will use the existing infrastructure of Mobile Network Operators (MNOs) in the country.
So far, seven companies have been licensed under tier 2 and 3, three companies under tier 4, and eight companies under tier 5. See the names of all companies here.
Cost of each licence: The MNVO licence, which is a 5-tier classification, has different services required of players in each tier. Per The Guardian Nigeria, all 25 companies acquired licences in tier 2 to 5, and none obtained a tier 1 licence. The tier 5 licence costs ₦500 million ($1.1 million), tier 4 costs ₦200 million ($432,900). Both the tier 3 and tier 4 licences cost ₦130 million ($ 281,385) and ₦60 million ($131,063) respectively, while the tier 1 licence cost ₦35 million($75,757).
The NCC has collected licensing fees totalling around ₦5.9 billion ($12.7 million) by granting MVNO licences to these 25 companies.
MONIEPOINT RANKED 2ND FASTEST-GROWING AFRICAN COMPANY
Moniepoint is Africa’s second-fastest growing company, as shown in FTs latest report. We also processed 1 billion transactions worth $43 billion in Q1 alone. Read all about it here.
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NIGERIAN BANKS TO PAY LESS FOR TRANSFERS
Nigerian banks asked and they have received.
Upon the request of commercial banks, Nigeria’s Inter-Bank Settlement System (NIBSS) has reduced the cost of transactions from ₦5 ($0.011) to ₦3.75 ($0.0081). The new prices will take effect on July 1, 2023, but insiders and experts say that this doesn’t mean that banks will be charging their customers less transaction fees.
Why won’t they? Every single kobo matters and banks know it all too well. Fees and commissions play a major role in their non-interest income, making them one of the biggest contributors. Just take a look at the numbers from 2022: Access Bank raked in ₦145.7 billion ($315.5 million), Zenith Bank secured ₦132.8 billion ($287 million), Ecobank pocketed ₦200.9 billion ($434.8 million), and UBA snagged ₦128.2 billion ($277.4 million), all from those charges and commissions.
Let’s face it, these banks won’t give up a single kobo unless someone really means business. And by that, we mean the big boss: the Central Bank of Nigeria (CBN).
Has that happened before? Yes. In December 2019, the CBN made banks reduce their fees to increase access to banking services to more Nigerians. The banks that hesitated were fined. If the CBN makes the same move again they may have to comply.
SAFARICOM INTRODUCES SMART WATER SYSTEM IN CAMPUSES
Kenyan telecom Safaricom and the Kenya Water Institute (KEWI) are partnering to introduce a smart water system that could make a real splash at the Nairobi and Kitui campuses.
Side bar: Smart water management uses real-time data to detect loss & leakage, ensure accurate billing, enhance revenue collection, improve operational efficiency, and as a result save costs.
It isn’t just about the H2O; Per TechtrendsKe, the smart water system will be used to facilitate, create, and run a practical smart water management curriculum for students at the institutions. Through this partnership, Safaricom seeks to paddle Kenya towards a future where clean water and sustainable management flow freely. This aligns perfectly with Sustainable Development Goal 6, which seeks to ensure the availability and sustainable management of clean water and sanitation for all.
SAMSUNG LAUNCHES E-WASTE PROGRAMME IN NAIROBI
Samsung Electronics East Africa has partnered with home appliances store, Housewife’s Paradise, to collect e-waste for recycling in Kenya.
As part of a joint effort on environmental conservation, the e-waste collection will commence in Nairobi, and then expand nationwide by the end of the year.
The process: Housewife’s Paradise will collect Samsung brand-only e-waste from customers at their desired time and date. Subsequently, the collected waste will be transported to the Waste Electrical and Electronic Equipment Centre (WEEE), Kenya’s official Samsung recycling partner, and disposed of according to established global standards.
According to the head of division at Samsung, Ronald Mitei, Samsung has been actively committed to a responsible e-waste management system and they aim to expand and enhance their efforts to reduce any adverse environmental effects caused by their products.
“We have been dedicated to responsible e-waste management for the last few years and we now want to scale it up to ensure that we minimise any negative environmental impact of our products. This includes taking responsibility for the end-of-life phase of our products to prevent environmental harm. Our e-waste programme and recycling programme are an important part of this commitment,” he said.
This programme comes as the world celebrates United Nations World Environment Day, and it aims to raise awareness and encourage action to protect the environment by collecting e-waste.
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THE WORLD WIDE WEB3
Name of the coin
Price of the coin
24-hour percentage change
* Data as of 06:00 AM WAT, June 8, 2023.
US lawmakers are urging the Internal Revenue Service (IRS) to hurry up with crypto tax laws. Per CoinDesk, several lawmakers believe that the country’s crypto industry is a major source of tax evasion that must be brought into full compliance.
North Korean hackers are the primary suspects in a $35 million crypto heist. CNN reports that the hackers drained the cryptocurrency accounts of certain customers of Atomic Wallet, an Estonia-based company with 5 million users. US officials now worry that the funds could be used to fund the North Korean regime’s nuclear and ballistic weapons programmes.
EVENT: THE MOONSHOT CONFERENCE
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Moonshot is a conference that will bring together Africa’s tech ecosystem to network, collaborate, share insights and celebrate innovation on the continent.
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The SaaS Accelerator Programme: Africa 2023 has opened applications for its accelerator programme to enable early startups in Africa to receive funding. Selected startups will receive up to $70,000 in funding. Apply by September 7.
Wise Guys SaaS Accelerator Program is looking to help SaaS startups level up through tailored guidance and support from world-class mentors and experts. Apply before September 7.
The AAAS Kavli Science Journalism Awards 2023 ($5,000 prize) is now open to applications from reporters doing work for independent news organisations around the world, with articles readily accessible to the public by subscription, newsstand sales or online access, with the submitted work available in English, are eligible to Apply by August 1.
Applications are open for the US $100,000 Africa Food Prize. Applicants must contribute to reducing poverty and hunger or improving food and nutrition security in measurable terms. They must also make a contribution to providing a vital source of income or employment in measurable terms. Apply by June 17.
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