Telecom
Africa’s Smartphone Market Suffers Sharp Fall in Q3 2022
Newly released data from IDC’s Worldwide Quarterly Mobile Phone Tracker shows that Africa’s overall mobile phone market suffered a year-on-year (YoY) decline of 19.9% in Q3 2022 to total 42.2 million units. The feature phone market was down 20.1% YoY to 24.4 million units, while smartphone shipments declined 19.8% to 17.8 million units, which represents a very low quarterly smartphone volume for the continent.
All of Africa’s smartphone markets experienced YoY declines in Q3 2022, with the two major markets of South Africa and Nigeria falling 16.2% and 21.1%, respectively.
“The declines seen across the continent were caused by an overall slow economy, high inflation rates, higher dollar exchange rates, and the increasing cost of living,” says Taher Abdel-Hameed, a senior research analyst at IDC. “All of these factors contributed to a slowdown in demand, which in turn forced most of vendors to cut their shipments into African markets.”
Egypt’s smartphone market declined 73.4% YoY due to the introduction of government regulations around imports. “The Egyptian government has introduced several restrictions on mobile phone imports,” says Abdel-Hameed.
“These restrictions — which include requirements for all import payments to be conducted via letters of credit (LCs) and for all LCs to be approved by the central bank, with limited approvals granted so far — have caused a huge dip in the market.”
Transsion brands (Tecno, Infinix, and Itel) continued to lead Africa’s smartphone market in Q3 2022, with a combined unit share of 47.4%, followed by Samsung and Xiaomi with respective shares of 25.9% and 6.4%. Transsion brands also dominated the feature phone market, with a combined unit share of 79.1%, followed by Nokia (6.1%).
The low-end price bands (less than $200) continued to dominate Africa’s smartphone market in Q3 2022, accounting for 83.6% share of shipments. The major increase versus Q3 2021 was seen within the $100 to $200 price range. The midrange price band ($200 to $400) maintained its position in the rankings, suffering a slight decline in share from 12.8% in Q3 2021 to 11.6% in Q3 2022.
Looking ahead, IDC expects the African smartphone market to grow 8.8% YoY in unit terms in 2023. “While 2022 has been a year of downturn in the African smartphone market, especially with Egypt undergoing a challenging period, a return to growth is expected in 2023,” says Ramazan Yavuz, a senior research manager at IDC.
“This growth will be spurred by a recovery in the Egyptian market and an influx of more affordable models to offset declining consumer disposable income in most countries across the region.”
Telecom
MoMo PSB, LSSBI Advisory Partner for Seamless Tax Payments
MoMo PSB has announced a partnership with Leadership Strategy Sustainability Business Innovation (LSSBI) Advisory to enhance financial inclusion and streamline tax payments in Ekiti, Nasarawa, and Rivers states.
This collaboration introduces MoMo as the official payment platform for taxpayers, enabling easy and convenient payments via the USSD code *5229#.
Nigeria CommunicationsWeek report that the partnership aims to boost compliance, drive revenue development, and promote financial autonomy for marginalised communities. Key stakeholders highlighted the significance of this collaboration in closing the financial gap and promoting economic growth.
Read Also: MTN Nigeria takes full control of MoMo bank for $4.6m
With this initiative, MoMo PSB reaffirms its commitment to providing accessible and user-friendly financial services to all Nigerians, particularly the unbanked and underbanked populations.
The launch of the USSD code *5229# demonstrates MoMo PSB’s dedication to expanding financial inclusion and promoting digital payments.
Ekiti State officials lauded the partnership, commenting on the convenience of using the MoMo payment platform, while emphasising its potential to increase tax compliance and benefit local communities.
The collaboration is part of a broader initiative to empower citizens with financial autonomy, encourage saving, and promote responsible money management.
As the rollout begins in Ekiti, Rivers, and Nasarawa, MoMo PSB and LSSBI Advisory aim to expand the initiative nationwide, encouraging other states and private sector partners to explore similar collaborations, leveraging technology to improve access to financial services. This partnership marks a new era in tax payment solutions, prioritising efficiency, inclusivity, and financial empowerment for all Nigerians.
MoMo PSB, established in May 2022 as the fintech division of MTN, continues to focus on delivering user-friendly, accessible, and affordable financial services to both new and existing customers across Nigeria.
Telecom
Glo Introduces Instalment Payment Scheme for Purchase of Smartphones
Globacom has unveiled a new device acquisition scheme to enable Nigerians own smartphones and pay conveniently over several months. The scheme is dubbed: “Buy Now, Pay Small Small” and is available in Gloworld shops across the country.
The scheme aims to bridge the digital divide by enabling individuals and businesses have access to the latest smartphones and devices more conveniently. This, Globacom claims, will make customers more connected and more productive.
A press statement released by Globacom explained that it is offering flexible payment options to its customers so they can acquire devices of their choice and spread the cost of these new devices over several months through instalment payments that is manageable for them.
The scheme has a wide range of smartphones and other smart devices from top brands that customers can chose from.
This device financing is available to all new and existing Glo customers who can avail the benefits of the programme when purchasing new devices from Gloworld stores across Nigeria.
Moreover, customers can choose from various payment plans to suit their budget, with tenures of up to six months and special interest rates on all flagship devices.
Globacom said customers who purchase devices under the programme will also be given a data bonus of 18GB for six months, adding that it is focused on customer satisfaction, through ensuring a convenient system of smartphone acquisition for Nigerians.
Telecom
Here’s Your Last Chance to Secure Discounted Starlink Kits @ Konga
Starlink Week at Konga, an exceptional opportunity to acquire reliable satellite internet at a significantly discounted price, ends tomorrow, Saturday, August 31, 2024.
Nigeria CommunicationsWeek gathered that customers now have chance to secure a Starlink kit at an exceptional price and experience the transformative power of high-speed internet.
Throughout the week, Konga has been dedicated to making Starlink’s cutting-edge technology more accessible to Nigerians.
Read Also: Konga Announces Starlink Week: An Opportunity To Own High Speed Internet Kit
The e-commerce giant offered Starlink kits and accessories at reduced prices, along with perks that have made this offer hard to resist.
In addition to the unmatched prices, Konga included free nationwide delivery to ensure that customers from every corner of Nigeria benefited from this offer.
Konga also provided free same-day delivery in major cities like Lagos, Abuja, and Port Harcourt, ensuring that customers can start enjoying their Starlink experience almost immediately.
As Starlink Week draws to a close, this is the final call for those who still need to take advantage of this limited-time offer.
The discounted prices, combined with the exceptional delivery options, represent a rare opportunity to invest in a technology that has revolutionized internet accessibility across the globe.
Konga’s Starlink Week has been more than just a promotional event; it has been a gateway to connectivity, offering Nigerians a reliable solution to their internet needs.
Starlink provides the service you need to stay connected wherever you are in Nigeria.
Take advantage of this exclusive opportunity. Visit Konga.com today or walk into any of Konga’s retail stores to secure your Starlink kit before the campaign ends.
- Telecom2 days ago
Glo Introduces Instalment Payment Scheme for Purchase of Smartphones
- E-Financial2 days ago
FintechNGR, Africa Fintech Network Call for Enhanced Collaboration and Innovation on Cross-Border Payments and Remittances
- Uncategorized1 day ago
FG Unveils Committee to Advance Risk Management in Nigeria
- E-Financial2 days ago
Fidelity Bank Trains 1,276 Women in Digital and AI Skills
- Telecom2 days ago
Here’s Your Last Chance to Secure Discounted Starlink Kits @ Konga
- Telecom2 days ago
QNET Reaffirms Commitment to Adhere to Ethical Practices, Local Laws & Regulations
- Telecom2 days ago
NDPC Boss Inaugurates Local Organising Committee for 2025 NADPA-RADPA Conference
- News1 day ago
NERC says World Bank will Crash Solar Tariff in Nigeria