Telecom
Etisalat Promises More Local Innovation in Telecoms Industry
Etisalat Nigeria, the fourth entrant into the GSM market in Nigeria has promised to increase its involvement in local innovation that will further drive the telecoms sector.
Chineze Amanfo, public relations manager at Etisalat Nigeria, made the promise in Lagos at the quarterly seminar organised by the Nigeria Information and Communications Technology Reporters’ Association (NITRA).
The seminar, which was sponsored by Etisalat Nigeria, had its theme: “Engendering Local Innovation in the Telecoms Sector.”
According to Amanfo, Etisalat has been at the forefront, promoting local innovation in the telecoms industry, and promised that the company would do more in engendering participation in local innovation in the telecoms industry, especially now that the subscriber number across all networks is increasing daily, with its current figure put at 142 million active subscribers.
She emphasised the need to further grow the telecoms sector through capacity building and local innovation solutions.
She said that Etisalat is partnering with Ahmadu Bello University (ABU), Zaria in the training telecommunication engineers, which she said, would enhance local capacity building in the sector.
Mr. Emma Okonji, president of NITRA, said Nigeria is today recognised as the largest economy in Africa with a Gross Domestic Product (GDP) of over $500 billion, a figure arrived after the rebasing exercise that took place last year.
He explained that the activities of telecommunications, no doubt, contributed immensely in helping Nigeria to achieve this feat.
Considering the growth in telecommunications in Nigeria, with over 190 million connected lines on all networks and over 142 million of these lines active, and with a teledensity that has surpassed 101 per cent, Okonji challenged telecoms operators to develop local capacity and engender local innovations in the sector.
“In order to build upon the current achievements in telecoms, NITRA has taken it as a point of duty to the industry to use its quarterly seminar series, as veritable platform, to advance discussions on the need to promote local innovations in the telecoms industry. We therefore consider the topic for this seminar apt and timely as it gives us the lee-way to discuss issues around the use of local content and local innovations in creating relevant ICT devices and solutions that will drive further development in the telecoms sector,” Okonji said.
Dr. Eugene Juwah, executive vice chairman, Nigerian Communications Commission (NCC), represented by Dr. Mike Onyia, an NCC commissioner, said: “From a regulatory point of view, innovation is key to the telecom industry. After the initial discoveries and development in the telecom sector, it is innovation that has catapulted growth in the sector to the height that it is achieved today. Innovation in the industry is also an attribute that is not exclusive to nations or states. The ready examples of uncountable number of apps developed in different parts of the world, riding on all available networks or platforms, shows that innovation is driving the industry.”
According to Juwah, the Commission has adopted technology neutrality in its licensing process. The reason for this is to provide opportunity for creativity and innovation in the provision of services. Restriction of service to specific technologies may not allow for innovation.
Provision of choice with the entry of multiple providers, and encouraging competition using regulatory tools is also designed to encourage local innovation in the provision of services. It is well known that innovation provides mutual benefit to bother the service provider and consumer of the service, Juwah said.
He promised that NCC would continue to encourage innovations in all aspects of the industry, as it is appropriate to predict that when broadband services become very much available in Nigeria as planned, it will also come with inevitable push for more innovations in the ways services are delivered today.
Airtel Africa Foundation, the philanthropic arm of Airtel Africa plc, yesterday unveiled its plans to directly improve the lives of 10 million people across the continent by 2030. The strategy will be delivered through targeted initiatives under four core pillars namely Financial Empowerment, Education, Environmental Protection and Digital Inclusion (FEED).
Outlining the ambitious target, Dr. Segun Ogunsanya, Chairman of the Airtel Africa Foundation, stated, “Our 2030 vision is a transformed Africa where over 10 million lives are directly improved through our interventions. We are not just donating resources, we are building a pipeline of talent and fostering innovation to ensure the global digital revolution leaves no African behind. This is a strategic, measurable commitment to unlocking the continent’s demographic dividend.”
The Foundation’s mission will be executed by creating a cycle of empowerment through targeted programmes. These include ‘Connecting Schools’, which provides free connectivity and devices, and the ‘Airtel Africa Fellowship’, offering full undergraduate scholarships in tech and STEM fields, complemented by mentorship and internships.
A key early success underscoring the Foundation’s impact is its ongoing partnership with UNICEF. This collaboration has already connected more than 1,800 schools, benefitted over one million students, and trained more than 17,000 teachers in digital education across the Foundation’s 14 markets of operation.
In addition, the Foundation will leverage its dedicated Employee Volunteer Programme, channelling the skills and passion of its people directly into community initiatives. For the 2025/26 financial year, the Foundation has set specific expansion targets, with programmes now active across all its operating countries, from Nigeria to Zambia, Malawi, Rwanda, and the Democratic Republic of the Congo.
Commenting on the company’s support for the Foundation, Airtel Africa’s Chief Executive Officer, Sunil Taldar, said, “We cannot thrive in a place that is not thriving. This understanding is the very reason the Airtel Africa Foundation was born. It is our vehicle to catalyse transformation, by systematically investing in the pillars that underpin a resilient and dynamic society.
“We have remained dedicated to transforming lives both as a business imperative as well as our overarching philosophy. For us, helping to connect the unconnected, banking the unbanked and enabling businesses and economies to thrive are the three most significant objectives of our business.”
FXTM, a leading global online trading firm, has launched FXTM Edge, a mobile-first trading platform designed to make forex and commodity trading more accessible to Nigerian traders.
The platform, unveiled at a media roundtable in Lagos, aims to simplify trading by addressing common barriers such as high entry costs, technical complexity and lack of structured learning support.
Adaeze Uzochukwu, Specialist, Education and Media at FXTM, said FXTM Edge was developed with the Nigerian market in mind, combining affordability, accessibility and education in one package.
“Many Nigerians are interested in trading but are held back by complexity, high costs or lack of experience,” she said. “FXTM Edge was built to remove those barriers and give everyone a chance to participate in global markets confidently.”
With a minimum deposit requirement of $50, compared to the previous $200, the platform lowers the entry threshold for Nigerians looking to trade. It also allows micro-lot trading, enabling users to start small and manage risk effectively
Uzochukwu said the platform offers a user-friendly interface, built-in educational resources and trade inspiration to help beginners build confidence step by step.
For experienced traders, FXTM Edge delivers competitive spreads starting from 1.2, a reward system that covers both lots and units traded, and the option to test strategies at lower cost.
She added that the mobile-first design reflects the growing reliance on smartphones for financial activities in Nigeria, offering speed, convenience and flexibility to traders on the move.
“Trading should not be intimidating. With Edge, beginners can start small, learn with the right support and gradually grow at their own pace,” she said.
Backed by FXTM’s global reputation for reliability and expertise, the new platform is expected to encourage broader participation of Nigerians in global financial markets
Airtel Africa has extended its $100 million share buyback programme, first launched in December 2024, in partnership with Barclays Capital Securities Limited. The scheme, aimed at improving shareholder returns, has so far returned $34.7 million through the repurchase of 14.2 million shares, with $20.3 million still to be acquired.
The initiative, now running until March 2026, follows the completion of an initial $50 million phase in April 2025 and currently includes a $55 million tranche.
The telecommunications group, listed on the Nigerian Exchange (NGX), is operating within regulations that restrict share buybacks to 15 percent of issued shares over two years. All repurchased shares will be cancelled, reducing the company’s share capital and potentially increasing earnings per share (EPS).
The buyback follows a strong performance in the first quarter of 2025, when Airtel Africa reported a 16-fold increase in EPS to 3.4 cents, supported by higher operating profits and lower foreign exchange losses. The company also raised capital expenditure by 27 percent, investing $737 million in 2024 to expand infrastructure and secure spectrum across its markets.
The extension of the scheme, according to Airtel Africa, also reflects its intention to provide consistent shareholder value while maintaining investment in its network. The partnership with Barclays ensures compliance with regulations during closed trading periods and seeks to limit market disruption.
Airtel Africa has in recent years considered a separate listing of its mobile money business but postponed the initial public offering in 2025, choosing instead to direct capital into shareholder-focused measures such as the buyback.
Industry observers point out that buybacks may improve financial ratios by reducing outstanding shares, but they can also indicate fewer reinvestment options. Airtel Africa has argued that its programme complements long-term growth priorities, pointing to a 29.5 percent increase in mobile money revenue and a 24 percent rise in its customer base.
The company continues to weigh shareholder rewards alongside reinvestment, citing foreign exchange volatility and other economic pressures in its largest market, Nigeria.
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