Telecom
AfricaNXT: Participants Acknowledge Policy, Regulatory Impact on Digital Connectivity
The first Panel discussants at the weeklong 2022 edition of AfricaNXT have acknowledged the positive impact of Federal Government’s policy and regulatory efforts, through the Nigerian Communications Commission (NCC), in fostering increased connectivity.
There was a groundswell of opinion that improved connectivity has enhanced individual and corporate activities that are bolstering socio-economic development in Nigeria.
The discussants particularly identified the critical role which digital connectivity is playing and will continue to play in shaping the future of work and the development of commercial activities in the country.
At a panel discussion, titled: “Bridging the African Digital Economy Gap,” discussants examined, in great depth and perspectives, how digital economy gap can be addressed in Nigeria and across Africa towards supporting business owners to sustainably grow global brands emerging from the African continent.
Also, at a panel discussion on “Future of Work: Exploring Pathways to Careers in the Digital Age”, panelists emphasised the transformational role digital connectivity is playing in bringing about efficient work environment, virtual collaboration at the work place, mobile work as well as remote work, thus replacing the hitherto brick and mortar business model, especially in the wake of the COVID-19 pandemic.
Formerly known as Social Media Week Lagos, now rebranded AfricaNXT, the conference and festival is
one of the largest technology events in Africa, with a gathering of business owners, innovators, technology enthusiasts and regulators, to discuss and network on how Africa can take its befitting place in the emerging global digital economy.
Already, the NCC delegation has arrived the venue of the event in high spirit ready to participate in the various panel sessions ahead of the main NCC panel session on Fifth Generation Deployment scheduled to take place on Thursday, March 3, 2022.
The panel session to be constituted by senior staff of NCC, on various regulatory aspects of 5G being driven by the NCC to deepen digital connectivity, will be a forum to educate hundreds of participants expected at the NCC panel session.
There are indications of enthusiasm about the NCC discourse and participants seem ready to use the opportunity to deepen their understanding of the new technology.
Over the years, NCC has put in place an effective regulatory regime that has continued to make the country witness increase in its Internet penetration and usage of digital media.
As at December 2021, active mobile Internet subscriptions reached over 141 million; active mobile (voice) subscriptions stood at 195.4 million, broadband penetration has reached 40.88 per cent while digital economy access gaps identified by the Commission are being drastically reduced to ensure saturated Internet connectivity across the country.
Besides, the Commission has facilitated deployment of emerging technologies from the a First Generation (1G), to 2G, 3G and 4G-LTE, and is vigorously driving deployment of 5G network in the country with the recent auction of 3.5 gigahertz (Ghz) spectrum licences to operators that will deploy 5G technology in the country.
Also, NCC is driving effective implementation of the National Digital Economy Policy & Strategy (NDEPS), 2020-2030, and the Nigerian National Broadband Plan (NNBP) 2020-2025 to actualize the laudable targets of deepening broadband penetration, reducing cost of broadband services, and improving digital literacy and skills.
These, participants reckoned, have transformed businesses with multiplier effect on Nigeria’s GDP in which the telecom sector contributes more than 12 percent.
Earlier, at the first business session hosted by The Guardian newspaper, held after the opening plenary, discussants and participants visualised how African stories will be told in the next 10 years.
There is a convergence of opinions that great developments in Africa could propel emergence of great brands that can shape the nature of content as well as their narrations to the benefit of Africa.
Furthermore, the extant NDEPS, the NNBP and the New Policy on 5G networks for Digital Nigeria, are expected to combine to shape the nature of and significance of content generation, processing and dissemination in Africa.
In a strategic move to deepen its presence in emerging economies, global cryptocurrency exchange MEXC has launched peer-to-peer (P2P) trading support for three new fiat currencies — the Nigerian Naira (NGN), Ethiopian Birr (ETB), and Pakistani Rupee (PKR). This expansion reflects the company’s increasing focus on localising crypto access in high-growth, underbanked regions.
The addition of NGN, ETB, and PKR to MEXC’s P2P platform enables users in Nigeria, Ethiopia, and Pakistan to trade major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) directly with their local currencies.
The trades come with zero transaction fees, in line with MEXC’s strategy to lower entry barriers for users and encourage grassroots participation in the digital asset economy.
The update is more than a technical expansion — it underscores MEXC’s recognition of Africa and South Asia as rising crypto frontiers. Nigeria, often cited as one of the world’s fastest-growing crypto markets, and Ethiopia, where digital finance is beginning to surge amid reforms, represent key territories for crypto adoption. Similarly, Pakistan’s growing youth population and fintech appetite offer strong potential for crypto-enabled financial inclusion.
To support the rollout, MEXC is actively onboarding new merchants to its P2P platform. Merchants benefit from zero transaction fees, dedicated customer support, a special verification badge, and invitations to exclusive community events. The goal is to nurture a local network of verified sellers and buyers who can facilitate seamless and trusted crypto trades.
P2P trading — which allows users to transact directly without third-party intermediaries — is especially relevant in markets where banking infrastructure is either insufficient or heavily regulated. By bypassing traditional systems, P2P provides a lifeline for users seeking stablecoins, alternative stores of value, or more flexible remittance solutions.
This latest expansion signals MEXC’s intent to compete aggressively for market share in underserved territories while enabling more users to access and benefit from Web3 technologies. As global exchanges race to localise their services, MEXC’s early moves into fiat integration may prove pivotal in shaping the next wave of crypto adoption across the Global South.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
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