Broadcasting
Beyond doing good: Why ESG makes great business sense for African fintechs

By Funmi Dele-Giwa, General Counsel & Head, GRC at MFS Africa
If you’re reading this, there’s a very good chance you’re already familiar with the acronym ESG. Standing for “environmental”, “social”, and “governance”, it’s a constantly evolving standard that emphasises the importance of doing business in a way that positively impacts the environment, society and stakeholders.

Funmi Dele-Giwa
In essence, it’s the idea that companies can grow and profit while doing good and it encourages businesses to be more transparent about how they add to or create value for their society, community and/or stakeholders.
While ESG has its critics (on both sides of the aisle), its philosophy has gained near-universal acceptance in investor circles. In fact, a 2022 study by asset management firm Capital Group found that 89% of investors consider ESG issues in their investment approaches. Additionally, there are around US$2.5 trillion in ESG assets under fund management. And with rising interest rates putting a dampener on investment (including in Africa), scoring well on those metrics may become more important than ever.
But for African fintechs the case for ESG goes beyond becoming investable. Implemented properly, the principles behind ESG make a great deal of business sense. As an illustration of how much of a boost it can be to a business, a study by accounting firm Moore Global found that companies with strong ESG principles saw their profits grow 9.1% in the three years between 2019 and 2022. In other words, the fintechs that get ESG right won’t just have an easier time attracting investment, they’ll also be better poised for growth, sustainability and profitability.
Why ESG works
Before looking into how African fintechs can put together the kind of ESG frameworks that encourage growth and investment, it’s worth taking a deeper look at why it makes good business sense (outside of the already strong investment case) to invest in ESG.
One of the most powerful is the African environmental context. According to the Africa Development Bank, for example, Africa is the continent most vulnerable to climate change. Any fintech that understands this and works to ensure that its operations are sustainable isn’t just helping mitigate the effects of climate change on the planet, it’s also helping ensure a future environment in which it’s more likely to survive and thrive.
Of course, ESG isn’t just about the environment. Its second social pillar has an equally important role to play. For fintechs this can look like ensuring that they hire diversely, support MSMEs, and contribute positively to employment in areas where it’s needed most. But perhaps even more importantly, it also includes financial inclusion.
Choosing to hire diversely has obvious societal benefits: for example it means that previously marginalised groups are able to participate in the economy at much higher levels. But it also comes with significant business benefits. And the higher up the organisation those hires climb, the greater the accrued benefits are. According to the Boston Consulting Group, companies with above average diversity in their management team report 19% higher innovation revenues than those with lower diversity.
Supporting micro, small, and medium-sized businesses also benefits fintechs. For starters, they make up a large customer base (particularly for B2B-focused fintechs) on the continent. In sub-Saharan Africa, there are approximately 44 million SMEs. These enterprises not only serve as the engine of many economies across the African continent, but they also represent a segment historically ignored and under-served by the more traditional financial services players. By providing products and services which speak directly to the pain points of micro and small enterprises, fintechs can not only tap into a fast growing and profitable segment, but can have a positive impact on the overall economic development and prosperity in the country in which they operate.
Growing financial inclusion in the region, meanwhile, is absolutely critical. At present, just 43% of people in sub-Saharan Africa have a formal bank account. That makes it difficult to access things like vehicle, home, and business loans that can be used to grow income. It also means that any savings the unbanked have can’t be used for wealth generating investments. Across the region, fintechs are helping people overcome those barriers by expanding financial services such as digital banking, microfinancing, and digital payments to people who wouldn’t previously have access to them.
The final pillar within the ESG framework, focuses on governance and this is often an overlooked and misunderstood pillar. I am an avid advocate and loud champion of strong corporate governance workings, but I am often asked how strong governance arrangements actually help an organisation thrive and grow.
Many people equate good governance with rigid structures and bureaucratic processes, but I respectfully disagree with these assertions. The truth is that a solid corporate governance foundation, coupled with the right corporate culture, has exactly the opposite effect. It frees an organisation from confusion and unnecessary work. It allows for decisions to be made more freely by people who have been empowered to take decisions. It ensures that key decisions are placed with and taken by the most appropriate individuals within an organisation. And it allows for a dynamic, organised, and agile organisation.
Examples of good governance practices every fintech should have in place include transparent decision-making processes, ethical behaviour, and accountability to stakeholders. This, in turn, helps build trust with customers, investors, and (increasingly stringent) regulators; fostering long-term sustainability and growth.
Building the right frameworks
Of course, claiming to be ESG compliant and having an effective ESG framework are two different things. While there are a variety of approaches that can be taken in doing so, at MFS Africa we take a three-pillared approach that focuses on “setting”, “measuring”, and “reporting” the impact we have in local communities and across the Africa continent.
During the “setting” phase, we outline the parameters which will guide the organisation in its ambition to build a strong impact-driven organisation with a clear ESG approach. Having done that, we measure against those parameters and then report transparently on those measurements.
While each organisation should tailor its ESG framework according to its individual needs and context, we’ve found this model to be the one best suited to us. It’s helped us grow to be the kind of organisation that can connect more than 500 million mobile money wallets across 40 African countries, supporting over 300,000 agents and providing access to financial services for millions of Africans.
A policy worth getting right
Ultimately, despite dire predictions from the extremes of the political landscape, it’s unlikely that ESG will go away soon. Even if the label disappears, it’s now so entrenched in the way that investors do business, that it’ll remain an important consideration. And that’s because the companies that do ESG well share many of the hallmarks of good, investable companies. As the African fintech sector continues to grow, its participants should ensure they’re taking a proactive and positive approach to ESG. This will transform the sector beyond “doing” good to “being” good – good for the economy, good for society and good for stakeholders.
Broadcasting
FG to Gift Nigerians over 100 Free TV Channels from May 15

National Broadcasting Commission (NBC) is set to launch so-called FreeTV, with over 100 channels for news, sports, education, entertainment and children’s programming in multiple Nigerian languages.

The launch is scheduled for May 15.
Charles Ebuebu, director-general, NBC, who disclosed this, said the new platform will offer free-to-air access with no carriage fees, leveraging hybrid satellite and internet delivery via NigComSat-1R.
The new plan is not an upgrade, the NBC stressed. This is a rebuild, according to Ebuebu .
FreeTV will be true free-to-air – no encryption, no set-top box barrier.
Any DVB-T2/S2 television will work. A mobile app will extend reach to phones and tablets.
The platform will launch with over 100 national, regional and state channels across sports, news, children’s programming, education, entertainment and cultural content in Hausa, Yoruba, Igbo, Tiv, Ijaw, Edo, Fulfulde, Ibibio, Efik and Nupe – all in HD.
Crucially, the NBC has partnered with a Bulgarian firm, GARB (operating since 2006 and recognised by the European Broadcast Union), to deliver a 94 per cent-accurate audience measurement system using return-path data, app analytics, demographic panels, and Artificial Intelligence (AI).
To qualify broadcasters, must commit their channels, produce a minimum of 60 per cent local content, and promote FreeTV until January 2029.
After that, a regulated tiered rate card takes effect.
According to NBC, the strategic rationale is simple: build viewers first, monetise later.
The document further revealed that six regional production hubs in Lagos, Abuja, Port Harcourt, Enugu, Kano and Benin would function as local content factories, expected to generate 500 to 1,000 jobs per zone within two years.
Broadcasting
What Adekunle Gold’s Support Means for ‘The Gathering on 100

Popular Nigerian artist Adekunle Gold has lent his support to the growing youth-driven movement behind The Gathering on 100, further amplifying conversations around what is fast becoming one of the most talked-about upcoming experiences among young Nigerians.

Adekunle Gold
Known for his music and his strong connection with youth culture and evolving creative expression, Adekunle Gold’s involvement signals a deeper alignment between the event and the kind of audience it is attracting, a generation that is bold, expressive, and constantly redefining what community looks like.
While details of his involvement remain understated, his visible support adds a new layer of support and cultural relevance to the movement. In a landscape where attention is currency, endorsements from artists of his stature often act as a signal, drawing more eyes, more curiosity, and ultimately, more participation, but beyond visibility, the significance lies in what it represents.
The new father has, over the years, built a reputation for embracing creativity in its many forms, from music to visual storytelling, fashion, and digital engagement. His brand has consistently resonated with young Nigerians navigating similar spaces of self-expression and identity.
From interactive experiences like live music sessions and open performance moments to fashion runways and content creation spaces, the event is designed to blur the lines between audience and participant. It invites attendees to move beyond observation and become part of the moment.
This is a concept that closely mirrors the kind of cultural shift Adekunle Gold has been part of, one where boundaries between creator and consumer continue to dissolve.
His support also reflects a broader trend within Nigeria’s entertainment industry, where artists are increasingly engaging with youth-led initiatives that go beyond traditional performances. Rather than simply appearing on stage, they are aligning with movements that foster community, creativity, and shared experience.
For fans and attendees, this adds another dimension to what The Gathering on 100 represents.
As registrations increase and conversations expand across social platforms, the movement is gradually taking shape through the collective interest of those drawn to it.
Head to gathering.com to register.
Broadcasting
INEC Warns Broadcasters against Misinformation ahead of 2027 Polls

Prof. Joash Amupitan, chairman, Independent National Electoral Commission (INEC), has urged broadcast organisations in Nigeria to exercise greater responsibility in the dissemination of information as the country prepares for the 2027 general elections.

Amupitan made the call on Wednesday, while addressing participants at the 81st General Assembly of the Broadcasting Organisations of Nigeria (BON), where he highlighted the growing influence of the media in shaping electoral processes.
He noted that the information environment has become increasingly significant in modern elections, warning that the spread of false or misleading information through broadcast channels could undermine public confidence in the electoral system.
According to the INEC chairman, media organisations must ensure strict compliance with the provisions of the Electoral Act 2026, particularly those relating to political broadcasting. Politics
He explained that the law requires equitable access to broadcast platforms for all registered political parties, stressing that fairness in media coverage is essential to maintaining a level playing field during elections.
“With 22 registered political parties, fairness in airtime allocation and coverage is a legal obligation,” Amupitan said.
The INEC chairman also cautioned broadcasters against airing content that contains abusive, inflammatory, or divisive language capable of inciting ethnic, religious, or sectional tensions.
Such broadcasts, he said, could threaten national unity and disrupt the electoral process if not properly managed.
Amupitan further reminded media organisations about the 24-hour cooling-off period mandated by law before election day, during which all political campaigns and advertisements must cease.
He explained that the measure is intended to provide voters with time to reflect on their choices without being influenced by last-minute campaign messaging.
While acknowledging the constitutional guarantee of freedom of expression, Amupitan emphasised that the right must be exercised within the limits of the law.
He noted that the airwaves are a public resource and must therefore be used responsibly to ensure fairness, balance, and equal access for all political actors.
The INEC chairman also pointed to the collaborative roles of INEC and the National Broadcasting Commission (NBC) in regulating political broadcasting, although he acknowledged that certain challenges persist.
These challenges, he said, include regulatory overlaps, gaps in enforcement, and the increasing convergence of traditional broadcast media with digital platforms, which has made monitoring political communication more complex.
Amupitan also expressed concern over perceived incumbency advantages in state-owned broadcast stations and the growing commercialisation of political airtime, warning that these practices could disadvantage smaller political parties. Politics
To address these concerns, he called for stronger collaboration between regulatory agencies, clearer guidelines on equal access to media platforms, and improved systems for fact-checking and verification.
He also advocated increased transparency in political advertising, including the disclosure of sponsorship and pricing structures.
Amupitan urged broadcasters to prioritise accuracy and professionalism in their operations, encouraging them to verify information before dissemination and play an active role in combating fake news.
He also called on the media to contribute to voter education and civic mobilisation, noting that public participation is vital to strengthening Nigeria’s democratic process.
Reaffirming the commission’s commitment to transparency, the INEC chairman advised media organisations to rely on official INEC communication channels for verified electoral information.
He added that the credibility of the 2027 general elections would depend not only on electoral logistics and technology but also on the integrity of the country’s information environment.
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