Telecom
AfriOne Boosts ‘Made In Nigeria’ Mantra, Unveils Phone Manufacturing Plant
AfriOne Ltd., a technology-driven enterprise, on Friday unveiled its manufacturing and assembly plant for ‘Made in Nigeria’ phones and other technological devices, and declared readiness for create jobs and other social economic benefits.
Speaking at the inauguration ceremony at the plant located at Ilupeju Industrial Scheme, Lagos State, Mr Sahir Berry, chief executive officer of AfriOne, said that the plant was a technological breakthrough and precedent for the company and for Nigeria.
Berry said that with the inauguration of the plant served as a pioneer in the manufacture and assembly of high-end communication technology in the African space.
He said that the company’s state of the art facility was spread out over 20,000 square feet including Research and Development (R&D) and testing laboratories.
According to him, the facility will be able to produce 300,000 products in a month on its four production lines.
He said that the company’s brands of Smartphone would soon be unveiled into the Nigerian market.
“AfriOne champions corporate socio-economic development, while wholly supporting the ”Made in Nigeria” mantra.
“The company models products that utilise cutting-edge technology reflect a modern, sleek design and integrate the latest and arguably necessary financial technology such as mobile health, mobile education and mobile banking.
“This is all with the goal of facilitating connectivity among Nigerians and the rest of the world,” Berry said.
On his part, Mr Hemang Kapur, co-founder of AfriOne, said that the products of the company were proudly and smartly crafted in Nigeria by Nigerians.
Kapur said that AfriOne served Africa’s largest socioeconomic power player with integrity.
He said that the company was hosting cutting-edge technology, stylish design, affordable price points and particularly, an inherent commitment to financial integration.
According to him, the financial integration was through the automatically installed mobile banking and financial technology, through the NowNow application.
“AfriOne aims to democratise technology by offering affordable innovations through our product offerings and removing barriers for large scale adoption of advanced technologies in Nigeria, hence our motto AfriOne – one for everyone.
“We offer a wide range of feature-rich and technologically loaded product lines from dual SIM mobile phones to educational tablet PCs and even android smart watches,” Kapur said.
The Chief Operating Officer of AfriOne, Mr Sandeep Natu, said that the company presently employed approximately 500 staff, who worked at its state-of-the-art product and testing facilities.
Nayu said that the organisation had an installed capacity of 300,000 products per month via its world-class production facility located in Lagos.
Nodding in a agreement, Mr Roheen Berry, managing director of Contec Global, said that in addition to the production of contemporary ICT devices and accessories, AfriOne was dedicated to Corporate Social Responsibility (CSR).
Berry said that the corporation facilitated education and training programmes and encouraged entrepreneurship in Nigeria and across Africa, recognising it as a means of contributing to economic growth.
“In adherence to the AfriOne and Contec Global in-house Agenda, young men and women have the opportunity to be involved in product development and strategic management training programmes.
“We are tangibly investing in Nigeria’s future through AfriOne, while providing a valuable skill set to its workforce that will facilitate continued innovation in Nigeria’s emerging, dynamic and robust market,” he said.
The assembly plant was inaugurated by Governor of Lagos State, Akinwunmi Ambode.
Ambode, represented by the Commissioner for Science and Technology, Mr Olufemi Olubiyi, commended the company for choosing Lagos State as its starting point in Nigeria.
Ambode said that his government would do all within its power to support AfriOne.
The need for Nigeria to think outside the box in its need to drive towards global relevance with innovations and scientific developments will be on the front burner at the NITRA Innovative & Scientific Conference scheduled to hold on Thursday July 23, 2026 in Ikeja, Lagos.
NITRA
The Nigerian Communications Commission (NCC) will lead other delegates to discuss and take far-reaching decisions at the event, which has its theme as “Bridging Nigeria’s Digital Divide With Scientific Innovation”.
Other companies that have indicated interest in partnering with NITRA include mobile communications company, Tecno; Africa’s premier end-to-end AI solutions company, Hyperspace; and telecommunications data infrastructure company, Digital Realty.
Speaking on the proposed event, the Chairman, Nigeria Information Technology Reporters Association (NITRA), Chike Onwuegbuchi noted that the event will seek to create a platform for government and private organisations to deliberate on policies around scientific innovations in Nigeria, challenges, place of indigenous and foreign collaboration, roles of each stakeholder, and grassroots development in that regard, among others.
According to him: “The Federal government, with series of programmes and partnerships, has established the urgent need to create an ecosystem that thrives on scientific innovation, breeding institutions and individuals with a target of placing the country at the fore-front of Next-Gen development.
It is a known fact that digital and scientific innovations are crucial, not only to the survivability of a nation, but also to the sustainability of its growth and development, with significant effect on economic strength, global image, defense and security, government capabilities to function, and public health and safety, communication and digital footprint, among others.
The federal government is actively driving scientific innovation to foster economic diversification and build a $1 trillion economy by 2030. Efforts are heavily focused on commercializing research, establishing massive research funds, and funding strategic infrastructure, particularly in technology, biotechnology, and healthcare. Core government initiatives and policies include the newly instituted National Research and Innovation Development Fund (NRIDF), which aims to mobilize about $500 million annually to support research and the commercialization of scientific outputs; and the Nigeria Genomic City, a multi-ministerial initiative aimed at transforming Nigeria into a leading hub for genomics, precision medicine, and biotechnology. It is designed to protect indigenous data, stimulate artificial intelligence in health, and develop a highly skilled scientific workforce.
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, the forum will also be a vehicle to propagating the views of decision makers to the public, thereby furthering the cause of public awareness and information dissemination on the topic.
The focus, he said will be on how Nigeria can sustain digital innovative growth and scientific development in Nigeria
The board of global payments company, PayPal, says a 53 billion dollars takeover offer from financial technology firm, Stripe, and private equity company, Advent International, does not adequately reflect the company’s long-term value.
PayPal
According to reports, the proposed acquisition, valued at 60.50 dollars per share, remains under consideration, with the board yet to formally respond to the offer.
The directors are said to be evaluating not only the financial value of the proposal but also the structure of the financing, the timeline for completing the transaction and the likelihood of obtaining regulatory approvals.
They are also considering the possibility of competing bids emerging.
Although the offer represents a premium of about 28 per cent above PayPal’s recent share price, the board believes the company could deliver greater value to shareholders if its ongoing turnaround strategy succeeds.
Following reports of the bid, PayPal shares gained about two per cent to close at 56.73 dollars.
Sources familiar with the discussions said Stripe and Advent have secured approximately 50 billion dollars in debt financing from JPMorgan and Morgan Stanley, while both firms would jointly contribute 17 billion dollars in equity.
Under the proposal, the two companies would jointly own PayPal instead of dividing its operations.
PayPal, Stripe, Advent International, JPMorgan and Morgan Stanley have all declined to comment on the proposed transaction.
The discussions come as PayPal seeks to strengthen its business after years of increasing competition from rivals including Apple Pay, Google Pay and emerging financial technology firms.
The company, which was valued at about 360 billion dollars in 2021, now has a market capitalisation of approximately 36 billion dollars.
Since assuming office as Chief Executive Officer in March 2026, Enrique Lores has embarked on a restructuring programme aimed at improving operational efficiency and restoring growth.
The restructuring includes the creation of three business divisions comprising Checkout, Venmo and Consumer Financial Services, and Payments and Crypto.
The company is also targeting 1.5 billion dollars in cost savings through the deployment of artificial intelligence technologies.
PayPal’s latest financial results indicated signs of recovery, with first-quarter revenue rising seven per cent year-on-year to 8.35 billion dollars, while total payment volume increased by eight per cent to 464 billion dollars.
If approved, the transaction would combine two of the world’s largest digital payments companies.
The combined business would process an estimated 3.7 trillion dollars in annual payment volume, significantly strengthening its position in the global online payments market.
However, analysts expect the proposed acquisition to face intense regulatory scrutiny because of the companies’ combined market share in merchant payment services.
To address possible antitrust concerns, the bidders have reportedly considered options, including separating PayPal’s Braintree business or other assets if required by regulators.
Sources said Stripe and Advent remain interested in pursuing the acquisition despite the board’s reservations, although negotiations are expected to continue.
Market observers are also awaiting PayPal’s earnings report scheduled for July 28 for further indications of the company’s financial recovery and future growth prospects.
Concerns over network reliability and its impact on Nigeria’s growing creator economy took centre stage at MTN Nigeria’s Data on Trial event, where content creator and streamer, Jarvis, challenged telecommunications operators to improve connectivity for digital creators.
Speaking during the event, Jarvis asked whether there were locations in Nigeria where uninterrupted internet connectivity could support real-life (IRL) streaming without network disruptions.
“Are there places where there is no breakage when streaming IRL?” she asked.
Her question highlighted the challenges faced by content creators who depend on stable internet services for live streaming, content uploads and real-time engagement with audiences.
Responding, MTN Nigeria’s Chief Technical Officer, Mr Yahaya Ibrahim, said network performance depends on several factors, including location, network coverage, device capability and the number of users connected to a particular base station.
He noted that operators continue to invest in expanding network capacity to meet the growing demand for data services.
Earlier, MTN’s General Manager, Network Performance and Quality Assurance, Mr Michael Ndukwe, explained the evolution of mobile network technology in Nigeria, from first-generation (1G) services to the current fifth-generation (5G) technology.
According to him, each phase of technological advancement has significantly increased network capacity and enabled new digital services.
Ndukwe cited Nigerian Communications Commission (NCC) data showing that Nigerians consumed about 13.2 million terabytes of data in 2025.
He added that data usage reached approximately 4.06 million terabytes in the first quarter of 2026, reflecting the country’s increasing reliance on digital platforms and online services.
According to him, the growth is being driven by wider adoption of 4G and 5G networks, increased smartphone penetration, the proliferation of smart devices and expanding use of social media platforms.
Participants at the event noted that as more Nigerians build businesses and careers around digital content, access to reliable and high-speed internet has become critical to sustaining the country’s digital economy and creator ecosystem.
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