General News
For TECNO, It’s Customers First- Qin
Nicholas Qin is the chief operating officer, Tecno Mobile Limited and he believes that it is not good to try to stop knowledge from going forward.
He spoke to Samson enato.
Overview of TECNO and Nigerian Footprint
In the year 2008, TECNO decided to focus on Africa as its key market and accordingly launched TECNO brand strategy.
Through three years of efforts, TECNO has achieved initial success with its outstanding and unique marketing strategy, and has now become one of the most popular mobile phone brands in many countries in Africa.
As a global mobile phone brand, TECNO has offices in countries and regions like China, Hongkong, South Asia, UAE and most African countries while we majorly focus on Africa, like Nigeria, Ghana and Kenya.
TECNO has been well accepted by Nigerian consumers and people are purchasing TECNO for its good quality, general features, professional services and innovative technologies.
Analysis shows that TECNO is now ranking number two in terms of market share in Nigeria and number one in dual SIM category in entire Africa.
The good thing is that in these countries where we have strong presence, we have established partnerships with the strong networks; which drives our spread.
One thing is that if you buy TECNO, there will be no complain.
Our phones are user friendly and affordable.
Our batteries last longer too. And when one visits our customer service centres, we do not hesitate to attend to them.
There are little things other companies over look, which we take very serious. Our customers are kings.
Assessment of the Nigerian Mobile Phone Market
Nigeria is the most populated country in Africa.
Currently, it has the largest market demand for mobile devices with a total estimated market size of 40 million handsets.
Thus, undoubtedly, Nigeria is considered by all major players, one of the most important markets globally.
Well, Nigeria is an energetic, passionate and youthful promising country. Its people have a very keen sense of fashion, internationalization as well as the world’s latest technology.
People are having the same standard towards fashion, technology and trend as those in USA and European countries.
Nigerian people are very brand-oriented and fashionable. Their high level of standard and pursuit leads the industry to a very promising future.
TECNO Loaded App Versus Others
TECNO has a good number of general applications embedded in most of its phones.
While we have specially, official co-operations with companies like Opera mini, Facebook etc. to make sure that we are providing genuine and original applications to consumers.
Besides those internationally popular applications, TECNO also dedicates to many localized applications like Draught which is developed by TECNO itself. Also, to provide consumers with best music experience, TECNO is cooperating with SPINLET that brings the latest music to our people.
And very soon, we are going to include Nigerian applications or contents. Nigerians have technology ideas, and from our side we want to get closer to local apps developers to get those contents.
TECNO Smart phones
TECNO always believes that we should supply what market needs rather than what we have.
As I stated earlier, Nigerian people are fashionable, trendy, passionate about new technologies, like Smart phones, surfing the internet and App demands.
By the demand and trend of the marketplace, we will launch our smart series shortly by aggressive functions and user experience.
Price of TECNO Smart Phones
With our R&D office in the centre of the world’s mobile phone industry, we can instantly introduce the latest technology and new ideas into African market.
TECNO aims to bring a more joyful and convenient life to all of us.
Having good cooperation with those big chipset suppliers and integrated industry advantages, TECNO has gained full supports from upstream and downstream partners that make TECNO phones more competitive in price and raw material quality.
With all the advantages and strengths, TECNO is to launch a series of smart phones with different screen sizes as 3.5″, 4.0″ and 5.0″; with Dual-Core and Qual-Core.
To reveal a secret, we are about to launch one new Smart Phone, TECNO N3; which will be a huge surprise to the Nigeria market.
Fast Selling Phones and CSR
‘Focus on Africa and Root in Africa’ being our motto, we have always behaved as a responsible brand in this continent.
We pay great attention to the future of the country, the youths.
We have sponsored some middle-school sports events, football teams in Lagos Polytechnics, CEEY comedy show in University of Lagos and some school graduation ceremonies.
Also, to stand against fake products and the show our determination in fighting the counterfeits, we have sponsored the quality control movement by the Standard Organisation of Nigeria (SON) and jointly put the efforts to provide Nigerian people with genuine products.
Meanwhile, TECNO is participating in people’s lives in many ways; we sponsored the country’s pride, Nollywood Awarding Ceremony, which is liked by most Nigerian people.
To carry out the responsibility of a global company, TECNO also supported some community security plans that ensure people live and work in a harmonious environment. In the future, TECNO will continue its social responsibility and contribute more to the society and the country.
TECNO Preferred Mobile Phone in Nigeria
First of all, TECNO has always insisted on its motto: ‘Quality Always’ which has gained the public’s general recognition.
Secondly, TECNO has been recognized as the first brand that introduced Dual-SIM phones into Africa and this movement has greatly changed peoples’ lives by bringing more convenience in communications and saving more cost of calling and SMS among different operators.
Also, TECNO currently has its service centres in 9 major cities and collection points in all the major cities in Nigeria with more to come. We are providing consumers with convenience and professional care.
By the way, TECNO is the first brand that announced 12+1 months warranty in Nigeria and Africa which shows our full confidence in our product quality.
TECNO Partnership with MTN and Etisalat
The sole aim of the partnerships is to bring good products to the door-steps of the customers.
Nigerians also appreciate good phones. So, imagine that the most popular products go with the most trustable network service.
And as we work together we offer the end-user the best result; I must tell you that people will not hesitate to follow.
TECNO aims to provide sound quality hardware and user-oriented software with beneficial packages like mobile internet bundle, app pre-load and download from the biggest operators.
This kind of cooperation can bring people more benefits in user experience, budget planning and all other app experiences.
A few weeks ago, TECNO launched its Opera Mini phones T638 and T608 which are very much favoured by Nigerian customers.
To bring people more benefits, T638 is now promoted jointly by TECNO and MTN with surprisingly beneficial data bundles while T608 is on the go with ETISALAT.
Meanwhile, we at TECNO are open and ready to build long term relationship with operators, hence it will enhance the acceptability and penetration of the products, and the customers will appreciate it more.
Manufacturing Plant in Nigeria
Well, initially when we entered the Nigerian market, we had such plan; however, currently we are focusing on offering Nigerians quality products and services.
Perhaps, we should not forget in a hurry that most of the IT providers in Nigeria are from China, so, we rate Nigeria high.
And currently, we employed Nigeria engineers in discharging our projects, because Nigerians know Nigeria.
And it is our part of local empowerment. Now, we are intensifying a fight against low quality products.
How do I mean? To fight low quality products, you have to push high quality and affordable ones in to the market.
Central Bank of Nigeria (CBN) has yet to publish its annual financial statements beyond the 2022 financial year, despite legal provisions requiring the apex bank to release its audited accounts annually.
An annual report is a comprehensive report on a company’s activities throughout the preceding year.
Annual reports are intended to give shareholders and other interested people information about the company’s activities and financial performance.
The most recent annual report and financial statements of the CBN available to the public remain those for the 2022 financial year.
Under Section 50 of the Central Bank of Nigeria (CBN) Act, the bank is required to prepare, submit and publish its audited annual financial statements.
Section 50(1) stipulates that the CBN must transmit its annual accounts, certified by an external auditor, to the President and the National Assembly within two months after the end of each financial year.
Section 50(2) further provides that the annual report submitted to the President and the National Assembly should be published in a manner determined by the CBN Governor, while Section 50(3) mandates the CBN Board to ensure the accounts are published in the Federal Government Gazette as soon as possible.
Despite these statutory requirements, the apex bank has not made public any annual financial statements after the 2022 reporting year.
The development comes after the CBN, on August 11, 2023, released its consolidated financial statements covering seven years the first such publication since 2015.
President Bola Tinubu appointed Olayemi Cardoso as Governor of the CBN on September 15, 2023, following the removal of former Governor Godwin Emefiele in June of the same year.
Emefiele is currently facing trial over alleged corruption-related offences.
Last week, the Supreme Court ordered the final forfeiture of several of Emefiele’s properties, along with $2.045 million in cash.
Dangote Petroleum Refinery and Petrochemicals has successfully completed a landmark US$2.5 billion private equity placement, in what is believed to be Africa’s largest publicly disclosed primary equity private placement by value.
This marks a major milestone in the company’s long-term expansion strategy.
In a statement issued on Thursday, the company said the offering was 3.7 times oversubscribed relative to its initial offer size, reflecting strong investor confidence in the refinery’s growth prospects and resulting in the issuance and allotment of approximately US$2.5 billion in new equity.
The fundraising follows the recent equity capital raise in which existing investors expanded their holdings alongside new institutional investors, strengthening the refinery’s capital base to support its next phase of growth.
According to the company, proceeds from the private placement will finance the continued expansion of its refining and petrochemical operations, reinforce its capital structure and enhance financial flexibility for future investments.
The transaction attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions and long-term strategic partners.
Among the key investors were the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank). The offering also drew participation from a diverse mix of institutional and individual investors, underscoring strong market confidence in the refinery’s long-term strategy.
Chairman of Dangote Petroleum Refinery and Petrochemicals, Aliko Dangote, described the successful capital raise as a strategic move to deepen and institutionalise the company’s shareholder base while complementing internal cash flows and external financing.
“This further demonstrates our profound commitment to developing domestic refining and petrochemical capacity, reducing Africa’s reliance on imported refined products and strengthening the continent’s energy security,” Dangote said.
Managing Director and Chief Executive Officer of the refinery, David Bird, attributed the strong investor response to the company’s operational performance and leadership.
“The exceptional demand we saw is a testament to our operational excellence, execution capacity, and investor confidence in DPRP’s leadership,” he said.
Following the completion of the transaction, the company said it is well positioned to continue executing its long-term growth strategy by expanding world-class refining and petrochemical capacity while strengthening Africa’s energy security.
Once again, The Gathering on 100 Pitchathon has rewarded some of Nigeria’s most promising young entrepreneurs, with three startups sharing ₦5 million in funding.
Pitchathon
The pitchathon took place at the Abuja edition of the Gathering on 100 held between July 18 and 19, at This Day Dome, Central Business District, Abuja.
The competition brought together founders from different sectors to pitch their businesses before a panel of judges.
The Pitchathon remains one of the most sought after experiences at The Gathering on 100, an MTN Nigeria initiative that connects young Nigerians with opportunities for entrepreneurship, innovation and personal development.
Omolola Rebecca, founder of Agrovest, emerged overall winner, receiving ₦2.5 million for her agritech solution, which provides funding for farmers to improve access to capital and boost agricultural productivity.
Reacting to her victory, Rebecca said the recognition would give her business greater visibility and open doors to more investors. “Winning this competition means more people will notice what we’re building.
“It puts Agrovest in front of potential investors and partners, and gives us the opportunity to grow our impact by supporting even more farmers,” she said.
The second prize of ₦1.5 million went to Agbo Obinnaya, founder of Case Radar, a legal technology platform that uses generative artificial intelligence to simplify access to legal services in Nigeria.
The platform enables users to obtain legal guidance, understand legal documents and connect with legal professionals through a single digital platform.
Abdulmuiz Adam secured third place and ₦1 million with WaveBudget, a fintech platform that combines savings and responsible financing.
The platform allows users to save towards financial goals, access buy now, pay later services through partner merchants with a 50 per cent down payment, and manage their savings in one place.
Presenting the prizes to the winners, Lanre Coker, Manager, Customer Acquisition and Compliance, North-West, MTN Nigeria, said the initiative reflects MTN’s commitment to supporting young Nigerians with the resources they need to grow their ideas into sustainable businesses.
“The Gathering on 100 is about helping young Nigerians achieve the height of their endeavours, whatever they may be.
“We know there are brilliant ideas across the country, and through initiatives like the Gathering on 100, we are creating opportunities for innovators to access funding and the confidence to keep building,” he said.
The Abuja edition builds on the success of previous Pitchathons held during The Gathering on 100 across the country.
In Lagos, eight startups received a combined ₦45 million in funding, while three startups shared ₦5 million at the Aba, Enugu, and Kano editions. With the Abuja winners now joining the growing list of recipients, the Pitchathon continues to position itself as a platform for discovering and supporting the next generation of Nigerian entrepreneurs.
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