Broadcasting
True financial inclusion calls for smaller markets to receive equal attention to larger ones
By John Ngari, Director, Africa MNOs at Onafriq
The potential for mobile money and digital payments to drive financial inclusion is immense. We can see this potential being unlocked on the African continent as it accounts for 70% of the world’s $1 trillion mobile money value and registered a 12% growth in mobile money accounts to 1.75 billion in 2023.
John Ngari,
This is opening a number of new opportunities for economic growth and development as more robust and connected payment networks are breaking down geographical barriers, opening up access to new markets and enabling anyone to send and receive payments quickly and easily from and to anywhere in the world.
However, these significant benefits are largely being realised and felt in Africa’s larger, and key, markets such as Nigeria, South Africa, and of course Kenya- where mobile money was first launched and popularised on the continent. While these markets have reached greater levels of digital payments maturity, smaller and more underdeveloped markets are often passed over, leaving many still excluded from economic participation and financial freedom.
And yet, the truly transformative power of mobile money and digital payments can be most realised in these overlooked economies where the reliance on cash, a lack of traditional bank accounts due to limited infrastructure and access, and the substantial penetration of smartphones and increasing internet connectivity has created the ideal confluence of circumstances that will pave the way for a more inclusive and resilient financial future.
Realising the enabling power of digital payments
The biggest drivers of mobile money adoption in Africa is its accessibility and ease of use. Unlike traditional financial services, there’s largely no need for extensive paperwork, a credit and financial history, or a physical presence within a brick-and-mortar branch in order to gain access to these services.
This low barrier to entry, along with mobile money’s ability to enable economies beyond just transactions and empower both individuals and enterprises, makes it particularly impactful for underserved markets. Within these regions, mobile money and the digital payments ecosystem has the power to serve as catalysts for economic growth, poverty reduction, and enable marginalised communities with the financial freedom to manage their day-to-day lives, start or expand their businesses, and invest in their futures.
A concerted effort towards a single goal
It’s important that all levels of an economy work towards achieving the crucial objective of financial inclusion. Collaboration is a key component in creating and maintaining an environment that creates more opportunities for inclusive growth and ensures economic resilience.
Not only do governments play a pivotal role in developing and implementing the policies and regulations that foster a supportive framework for financial services, but investment from both the public and private sectors are essential to building the necessary digital payments infrastructure that will underpin financial inclusion on the continent. Meanwhile, fintech firms can continue to drive innovation in this space that will achieve the desired convenience, speed and accessibility within the payments space.
We can see this value already starting to be realised across smaller markets like Eswatini where the Central Bank established a FinTech unit to spearhead the development of digital payments in the country in 2018, in South Sudan where the introduction of mobile money in 2017 has enabled development organisations to distribute cash assistance securely, and Somalia which recently enabled digital payments to be made between the country’s banks, making payments easier.
And, in Ethiopia, non-banks were enabled to provide mobile money services in 2020 as mobile money services could lift 700 000 people out of poverty, add $5.3 billion to the country’s economy, increase tax revenue by $300 million, and essentially position the country to adapt to economic downturns according to the GSMA’s 2023 Mobile Money in Ethiopia report. Recognising this period as a key moment in the country’s transformation into a financially inclusive economic powerhouse, Onafriq has also strengthened its presence in Ethiopia through a number of partnerships with financial institutions, mobile network operators, and other key decision makers. This includes partnerships with Ethio telecom and M-PESA Safaricom to enhance and streamline remittance flows and address the shortage of forex while providing customers with much-needed funds.
It’s clear then that when all these elements work in harmony, they can break down barriers to financial access, enabling people and businesses to participate more fully in the economy, thus driving sustainable development and economic growth in these underserved regions. And, investing in these smaller, underserved markets – which represent a significant portion of the continent’s population – is simply integral to realising true financial inclusion across Africa.
When everyone is able to access financial services we can foster inclusive growth, stimulate local economies and open up access to new markets and opportunities, connecting the continent through sustainable economic development.
Broadcasting
NBC Files Fresh Appeal against Judgment Barring it from Imposing Fines on Broadcast Stations
National Broadcasting Commission (NBC) has filed an application seeking the permission of the court of appeal to file a fresh appeal against the judgement of the federal high court in Abuja barring it from imposing fines on erring broadcast stations.
In the application filed at the court of appeal in Abuja by Dapo Akinosun, counsel to the NBC, the commission argued sanity in Nigeria’s broadcasting sector is under threat and that the public interest would be better served if the court grants the application.
On January 17, 2024, Rita Ofili-Ajumogobia, a judge at the federal high court in Abuja, restrained the NBC from imposing a N5 million fine on broadcast stations sanctioned in 2022 over allegations of “undermining Nigeria’s national security by broadcasting documentaries on banditry in Nigeria”.
The affected broadcast stations were Multichoice Nigeria Limited, owners of DSTV; TelCom Satellite Limited (TSTV); Trust-TV Network Limited; and NTA StarTimes Limited.
The suit was filed by Media Rights Agenda (MRA).
Dissatisfied with the ruling, the NBC appealed the judgement filed an appeal at the court of appeal in Abuja.
In June, the court of appeal dismissed the commission’s appeal, holding that it was “fundamentally defective” and incompetent.
Jane Inyang, lead judge of the panel, held that the parties before the lower court were identified as “Incorporated Trustees of Media Rights Agenda (as applicant) and National Broadcasting Commission (as respondent)” but in the notice of appeal the purported appellant was described as the “Nigerian Broadcasting Commission”,
The judge held that the discrepancy was significant and that the court lacked jurisdiction to entertain the commission’s appeal.
In the application, the NBC urged the court to grant it leave to raise and argue a fresh issue on appeal relating to the legal capacity of MRA to institute and maintain the original suit before the lower court.
The commission argued that the defect in the earlier notice of appeal, which resulted in the dismissal of its appeal, arose “solely from an inadvertent misdescription” of its name by its lawyer.
The NBC told the court that the subsisting judgement raises questions on the commission’s statutory powers to regulate broadcasting and enforce compliance with broadcasting standards in Nigeria.
The commission argued that the subsisting judgment is capable of creating uncertainty regarding its regulatory powers if it is allowed to stand.
The NBC also argued that without the pronouncement by the appellate court on the issues raised in the appeal, its regulatory framework would be weakened.
“A weakened regulatory framework may embolden non-compliance with established broadcasting standards, thereby increasing the dissemination of false, misleading and unverified information capable of causing unnecessary public anxiety, panic and social unrest,” the NBC said.
“Absence of effective regulatory oversight may further encourage irresponsible broadcasting practices and the misuse of broadcast and digital media platforms by persons who deliberately publish sensational, inaccurate or inflammatory content to intimidate, harass or unduly influence individuals, institutions and public discourse.”
David Adedeji Adeleke, known professionally as Davido, has shared his past suicidal thoughts as he dropped Oriadé, his sixth studio album yesterday.
Davido
Davido said he chose the date on purpose as it marks exactly 15 years since he began his professional music career.
Oriadé is a Yoruba word combining “Ori,” meaning destiny, and “Adé,” meaning crown.
It translates to “the crowned head.” The album has 13 tracks and features Black Sherif, Aya Nakamura, Leon Thomas, Mayorkun, and Llona.
It follows his 2025 project, 5ive, which reached number two on the Billboard World Albums chart.
Davido also announced an international tour to support the new record.
In the days leading up to the release, Davido gave interviews that revealed personal details about his past and his current life.
Speaking to Vibe Magazine on Thursday, he described a 2014 incident in Ghana that left him feeling suicidal.
He said he invited a woman back to his hotel room after a show, and she later posted a photo of him sleeping online.
He said the fallout overwhelmed him.
“My daddy was calling me. My sisters were calling me. If I saw the balcony that day, I would have jumped,” he said.
He said he was young at the time and did not fully understand the consequences of his actions.
He described the experience as a turning point that changed how he thinks about privacy and fame.
In the same interview, he explained why he often dresses down in public despite his wealth.
He recalled a trip to the South of France where he went out in shorts and slippers without his watch.
“I’ve been on jets, I’ve been flying, I’ve been in all these places since I was a baby. I’ve been seeing money since I was a baby. So all these things don’t really excite me,” he said.
He added that he sometimes prefers to drive a Toyota to the supermarket in Atlanta instead of one of his luxury cars.
In a separate livestream with Davrel, Davido spoke about how his life has changed since marrying his wife, Chioma, and becoming a father.
He said his home no longer holds the large crowds it once did.
“I can no longer have 100 people in my house like before,” he said.
He said he speaks to Chioma every day regardless of his schedule.
He also disclosed that he spends between $200,000 and $300,000 a month on himself, not including costs for his wife, children, jewelry and cars.
He said the amount is lower when he is in the United States, where he described his lifestyle as quieter.
Africa Prudential Plc has reaffirmed its commitment to digital transformation, revenue diversification and sustainable growth after reporting a strong financial performance for the first half of 2026.
Dr Catherine Nwosu
The company made this known during its H1 2026 Investor Call, which brought together institutional investors, shareholders, investment analysts, regulators and other stakeholders to review its financial performance and strategic outlook.
Dr Catherine Nwosu, managing director and Chief Executive Officer of Africa Prudential, said the company’s performance reflected the resilience of its business model and the effectiveness of its long-term growth strategy despite prevailing macroeconomic challenges.
According to the company’s financial results, gross earnings rose by 27 per cent year-on-year to N4.28 billion, from N3.34 billion recorded in the corresponding period of 2025.
Profit before tax increased by 22 per cent to N2.41 billion, while profit after tax grew by 18 per cent to N1.59 billion.
The company also reported a 27 per cent rise in net operating income to N4.21 billion, while total assets increased by 13 per cent to N46.53 billion.
Shareholders’ funds equally rose by 13 per cent to N12.52 billion, reflecting continued financial strength.
Management attributed the performance to sustained growth in its core registrar business, increased corporate action activities in the Nigerian capital market, improved treasury earnings and rising adoption of its technology-driven solutions.
The company said it was steadily transforming from a traditional share registrar into a broader technology and business solutions provider serving Nigeria’s capital market ecosystem.
During the interactive session, investors sought clarification on the sustainability of earnings, particularly as interest rates are expected to moderate.
Responding, Nwosu said the company was deliberately expanding its recurring fee-based revenue streams to reduce dependence on treasury income.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams.
“Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, Annual General Meeting (AGM) technology, probate services and the SabiVest mobile app.
“Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
Nwosu noted that increasing capital market activities had created stronger demand for seamless digital investor experiences, improved operational efficiency and enhanced compliance solutions.
She said the company would continue investing in technology-enabled products capable of delivering long-term value to shareholders while strengthening its competitive position.
According to her, Africa Prudential has identified five strategic priorities for the second half of 2026.
The priorities include driving sustainable growth across its core registrar and emerging business lines, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and deepening corporate governance.
She said the investor engagement demonstrated the company’s commitment to transparency, accountability and regular engagement with shareholders and the investment community.
Africa Prudential reaffirmed its commitment to leveraging innovation, operational excellence and sound financial management to sustain growth and strengthen its leadership position in Nigeria’s capital market.
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