Africa By Region
Realising Abundant Connectivity through Open Access Fibre
The concept of open access (OA) business model is here to stay. It provides the most effective way of driving competition between internet service providers (ISPs) while giving customers the freedom of choice at affordable rates. Under an open access model, the fibre network operator (FNO) provides an infrastructure that can be used by any number of licensed ISPs. This creates a clear distinction between the responsibilities of both parties. The roll-out and maintenance of the physical infrastructure, for example, the fibre cables, are the domain of the FNO. The ISPs, in turn, are responsible for the value-added services offered on top of that, i.e. the internet access sold to the customer. It is also why many operators in smaller towns are still clinging to a traditional approach that see...
Stripe to Acquire Nigeria’s Paystack
Sourced from Redbubble and iStock. Stripe has revealed that it has entered into an agreement to acquire Paystack, a payments collection company based in Lagos, Nigeria. According to an official statement, Paystack works with more than 60,000 businesses in Nigeria and Ghana to securely collect online and offline payments. It also processes more than half of all online transactions in Nigeria and has plans to expand across the continent, having recently started a pilot with businesses in South Africa. Stripe and Paystack have been working closely together for some time. In 2018, Stripe led Paystack’s Series A financing round and has provided ongoing guidance as the company rapidly scaled. “In just five years, Paystack has done what many companies could not achieve in decades. Their tech-firs...
MTN Named ‘Most Valuable African Brand’
MTN Group has been named the ‘Most Valuable African Brand’ by Brand Finance Africa. The ranking ascribes a brand value of $3,3 billion to MTN. Brand value is said to be the net economic benefit that a brand owner would achieve by licensing the brand in the open market. In its survey, Brand Finance said that “over the last year, Africa’s largest mobile operator has celebrated solid profits and impressive subscriber growth.” The survey assessed the impact of COVID-19 on the enterprise value of all brands in its survey, compared to their values on 1 January 2020. It categorised the telecoms sector as ‘limited impact’, which it said meant “minimal brand value loss or potential brand value growth”. This was due to the increasingly important role that mobile operators have played in keeping peop...
Africa Tech Festival 2020 Speakers Announced
AfricaCom and AfricaTech are anchor events of the new Africa Tech Festival, which will take place – online – from 10-12 November this year. Acknowledged as the world’s largest Africa-focused digital infrastructure and emerging tech event, the Africa Tech Festival has always attracted a stellar line-up of critical thinkers, analysts, futurists, keynote and inspirational speakers. 2020 will more than deliver on that reputation, with a stimulating array of visionary industry presenters, raconteurs and even some sporting greats. The Africa Tech Festival kicks off with an opening keynote address by Abe Wakama, founder and CEO of African Innovator Group, who will chair the keynote sessions on Tuesday 10th November. Below are just some of the more than 200 speakers who will be joining...
The State of Cybersecurity in Africa
Sourced from IDG Connect Modern technologies require a certain level of skills when it comes to accessing information. While most countries have strict laws about internet security, countries all across Africa are falling behind the rest of the world. The digital era has brought many new forms of communication. Sadly, some use technology to steal information and compromise entire state governments. Africa is currently one of the fastest developing areas globally, and it’s estimated that over 1 billion Africans will have internet access by the end of 2022. That puts many people in danger as cybersecurity laws are still waiting for confirmation across the continent. Let’s take a look at the current state of things in Africa. Trends in Cybercrime Many countries in Africa face enormous challen...
Only 19% of Women Use Internet in Uganda, Study Shows
Women in Uganda use the Internet far less than men according to a new survey from the World Wide Web Foundation which found that 27% of men in the country are online, compared with just 19% of women. Uganda had by far the largest gender gap in internet access among four countries included in the survey of women’s online experiences. In Ghana, which also featured in the study, men were just 6% more likely to be online than women, compared with 43% in Uganda. Total internet use in Uganda remains low at 23% of the population, while Ghana has reached 30%. The exclusion of women from the digital society is a huge threat to progress on gender equality and denies women opportunities to improve their lives, the report warns: “The internet is one of the most empowering technologies the world has ev...
Important Considerations when Selecting a Payroll Service Provider in Africa
In my years of experience in the African payroll market, I have come across various companies and individuals who consider themselves to be payroll experts. However, when questioned deeper, and based on the complexities associated with servicing payroll across multiple African countries (each with their own legal, customary and operational nuances), it has become apparent that many have misconstrued their knowledge or are in fact primarily relying on their payroll service providers to deliver compliant solutions. In 2019, Deloitte conducted a payroll benchmarking survey which collated responses from 750 different organisations operating across 55 countries. 73% of the companies who participated already outsource some components of their payroll and a key finding of the survey was that sour...
The Future of Micro-finance in Emerging Markets
The pandemic has emphasised, beyond a point of reasonable doubt, the importance of technology to our modern world. Just as video calling and messaging have allowed us to work, study and socialise, fintech has played a similarly critical role in ensuring that people can still access the banking system. However, entirely too many people still lack access to financial services, leaving them without recourse in these unprecedented times. Financial inclusion is vital if we are to ignite economic growth, yet major obstacles remain. Reports suggest that as many as 40% of Nigerians are excluded from the banking system. To bring basic banking to everybody, we must still contend with limited access to technology, insufficient infrastructure, isolated areas, jealous hoarding of data by traditional in...
MTN Joins Forces with the Telecom Infra Project
MTN Group has teamed up with the Telecom Infra Project (TIP) to support the evolution of its communication transport infrastructure – something the telco hopes will become a platform for ‘future revenue growth and profitability’. “Our partnership with TIP will drive the specific requirements of our network to meet our subscriber demands, setting us apart on our network scalability and adaptability,” says Charles Molapisi, MTN Group CIO. Through the partnership, communication transport capacity will be deployed to support traffic growth over the next three years. In addition, it aims to provide support for new services as part of the evolution of 5G and new enterprise services. It will also reduce the time to market through more focused agile service provisioning. “Through the use of open p...
Jumia Unveils New Mobile Gaming Service
Jumia and Mondia have joined forces to launch a mobile gaming service – accessible from the JumiaPay App. In its first phase, the gaming portal is available in five African countries including Egypt, Nigeria, Morocco, Kenya and Ghana with plans to expand the service to Jumia customers in Tunisia and Côte d’Ivoire over the next few months. “The gaming industry is expected to grow at a CGAR of 12% until 2025 and with more than 200 million Africans who are below the age of 35, the continent has tremendous potential in the mobile gaming segment,” says Amadeo Rahmann, CEO of Mondia. Sami Louali, EVP Financial Services at Jumia Group, says, “We have always been at the forefront of providing our consumers with the latest and best products and services. With the launch of this new category on Jumi...
Mukuru Adds Sign-Up Feature to WhatsApp
Mukuru has upgraded its app and added a new self sign-up feature to its WhatsApp offering. The new app – available on Android and IOS – will allow users to send money to 12 countries including Botswana, Bangladesh, DR Congo, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Pakistan, Uganda, Zimbabwe and Zambia. Both channels are expected to enable customers to sign-up and conduct important transactions from home. “Our customers have been asking for a Mukuru App, and we have made sure to develop and present a solution that empowers our customers to send money back home to their families in an even safer and more convenient way. Mukuru has always given its customers the ability to transact when and wherever they need to through our existing USSD and WhatsApp offerings – the Mukuru App adds a ri...
Canal+ Acquires 6.5% Stake in MultiChoice
Image sourced from The Vanguard Nigeria MultiChoice has revealed that Groupe Canal+ SA – a French media company – has acquired 6.5% of Group’s ordinary shares. The African entertainment company emphasised that Canal+ would have to accept reduced voting rights of shares as it’s a foreign entity. “Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including MultiChoice shares deposited in terms of the American Depositary Share (“ADS”) facility) so that the aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the tota...
