Telecom
GTCO Acquires Asset Management and Pension Fund Businesses

Guaranty Trust Holding Company Plc, GTCO Plc, a diversified financial services provider, today notified the Nigerian Exchange Group (NGX) and the investing public that GTCO Plc has concluded the acquisition of the 100% equity stake in Investment One Pension Managers Limited (IOPM) and Investment One Funds Management Limited (IOFM) (together, the Companies) held by Investment One Financial Services Limited (IOFS or the Seller).

IOPM is licensed by the Nigerian Pensions Commission (PenCom) to operate as a Pension Fund Administrator in Nigeria. On the other hand, IOFM is licensed by the Securities and Exchange Commission (SEC) to undertake fund management and investment services on behalf of clients and manage collective investments schemes as a corporate investment adviser. The Seller is regulated by the SEC and offers a wide range of services including Investment Management, Trust Services, Financial Advisory Services, Security Brokerage and Pension Funds Management. Forthwith, the Companies cease to be subsidiaries of the Seller and have become wholly owned subsidiaries of GTCO Plc.
In line with GTCO Plc’s aspirations to operate across the financial services sector value chain in Africa, these acquisitions would expand the product and service offerings of the Group into the Assets and Funds management segments whilst positioning GTCO Plc as a dominant player for all critical financial services.
Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.
He further stated that, “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continue to drive our financial success. As a Proudly African and Truly International brand, we will continue to live by these values — of excellence, hard work and integrity, even as we create faster, cheaper, safer and products for people and businesses through every stage of life.”
The acquisitions were facilitated by Exotix Advisory Limited and Vetiva Capital Management Limited as Financial Advisers, Aluko & Oyebode as Legal Adviser and Deloitte & Touche (Nigeria) as Financial Due Diligence Adviser.
Distributed by APO Group on behalf of Guaranty Trust Holding Company Plc.
About Guaranty Trust Holding Company Plc (GTCO Plc):
GTCO Plc is a diversified financial services company with N5.144trillion in assets, providing commercial banking services and non-banking financial services across eleven countries, including the United Kingdom. The Group offers a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom.
The Group is rated B- by S&P, a reflection of the Group’s stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.
This Press Release has been issued by APO. The content is not monitored by the editorial team of African Business and not of the content has been checked or validated by our editorial teams, proof readers or fact checkers. The issuer is solely responsible for the content of this announcement.
Telecom
Elon Musk Launches XChat with Video Calling to Take on WhatsApp, Messenger

Elon Musk’s X (formerly Twitter) has launched a new stand-alone messaging app on iOS devices, called XChat.

Elon Musk
This app will help users connect their existing X contacts for calling, chatting, and sharing files. This move shows how Musk’s previous idea of creating a single ‘everything app’ seems to shift to a different strategy now.
This newly launched app comes with features such as audio and video calling, text messaging, group chats, and file sharing.
Moreover, it features privacy-focused tools like disappearing messages, the option to delete and edit messages for everyone, and a feature that blocks screenshots.
Looking at these features, the XChat seems to take on WhatsApp and Messenger.
However, the tech firm said that the app has no tracking or ads.
In terms of privacy, X claimed that the instant messaging app is end-to-end encrypted and comes with a PIN.
This app is currently available to iOS users only, and more updates are expected in the near future, as teased by Benji Taylor, the X’s lead designer. The launch of this app reflects a shift in Musk’s strategy about turning X into an ‘everything’ app that will include payments, shopping, messaging, and more combined in one place.
However, the focus of xAI seems to be different now as the company seems to be developing several different apps instead of combining everything into one.
This approach may help X to reach users through their various services rather than a single platform.
While XChat focused on messaging currently, the tech firm is also reportedly testing a separate payments system, which is not available to the public so far.
More features and updates to the instant messaging app are likely to be arriving in the coming months as X continues to grow its ecosystem with more apps.
Telecom
Globacom Unveils Two New TVCs Showcasing the Future of Connectivity

Technology Company, Globacom has unveiled two vibrant television commercials, “Road Trip” and “Department of Imagination,” reinforcing the telecommunications giant’s dedication to providing seamless, reliable connectivity for every lifestyle.

These engaging campaigns illustrate how Glo remains an essential partner in both our daily routines and our boldest future aspirations.
“Road Trip” captures a relatable family adventure filled with laughter and authentic moments. The story follows Toyin Abraham Ajeyemi as she experiences the frustration of poor signal—only to find that switching to Glo transforms the experience instantly. Whether it’s navigation, downloading content, or staying entertained, the difference is clear with Glo, which ensures you stay connected no matter where the road takes you.
Starring alongside Toyin Abraham Ajeyemi, the commercial featured Bolaji Ogunmola and others and their combination brought the best out of the TVC.
Users can easily access data plans by dialling *312#, ensuring smooth, uninterrupted service on the go.
Department, on the other hand transports viewers to a futuristic landscape where technology bridges the gap between creativity and reality.
Guided by the renowned Richard Mofe-Damijo (The Professor), the story explores how powerful ideas turn into extraordinary experiences. It showcases a smarter, more dynamic world—from real-time gaming to advanced culinary processes demonstrated by Hilda Baci and creative tech integration by Bamike Adenibuyan (Bam-Bam).
The unique feature of the story is each scene serving as a testament to how Glo is actively shaping a future where technological possibilities are infinite.
The Glo’s latest commercials carry a unified, powerful message: The future is here, and it is powered by Glo.
Telecom
MTN-Backed Pitchathon Awards ₦45m to Startups @‘Gathering on 100’ in Lagos

Young innovators and entrepreneurs from across Nigeria converged at the “Gathering on 100,” a 100-hour non-stop youth-focused experience powered by MTN, to showcase ideas, build networks, and compete for funding in a major startup pitch competition.

Pitchathon
The event, described by organisers as a convergence of creators, founders, and culture shapers, featured a Pitchathon segment that awarded a total of ₦45 million to eight outstanding startups selected from 30 participants spanning sectors such as Artificial Intelligence, FinTech, HealthTech, EdTech, Internet of Things (IoT), AgriTech, DefenceTech, and CreativeTech.
The competition underscored what participants called a “Gen Z approach to business,” combining innovation, speed, and community-driven growth models.
At the end of the contest, Hurpham Africa, led by Sesan Kareem, emerged overall winner, securing ₦15 million alongside enterprise partnership and co-development access from MTN.
Coconoto Ltd, founded by Jacob Oluwayannife, clinched the second runner-up position with a prize of ₦10 million, while Rava Send, represented by Emmanuel Isaka, emerged third runner-up, receiving ₦5 million.
Five other startups — URI Social, Dulces Jams, Kindly Book, Africa Medical Marketplace, and MyFund — each received ₦3 million in recognition of their innovative solutions and growth potential.
Organisers said the initiative was designed not only to reward innovation but also to equip young founders with critical business skills through mentorship and real-time engagement with industry leaders.
The Pitchathon formed part of a broader industry showcase where emerging technology startups presented solutions aimed at deepening financial inclusion and accelerating e-commerce growth across Africa.
Among the presenters was a fintech platform led by Charles Dairo, which is focused on simplifying cross-border transactions. According to Dairo, the platform has recorded more than 10,000 user registrations, with about 30 per cent actively transacting.
He said the company is deploying a localized incentive system to drive user engagement and convert inactive users, noting that a referral programme already contributes roughly 15 per cent of organic growth.
The platform operates a 0.5 per cent transaction fee model and leverages strategic banking partnerships to ensure liquidity. It also integrates stablecoins such as USD Coin to enhance cross-border payment efficiency and expand interoperability across mobile money ecosystems.
Stakeholders noted that such innovations could help address long-standing challenges in Africa’s payments landscape, including high transaction costs and limited system integration.
In the e-commerce space, startups like Jakuta demonstrated the use of artificial intelligence to simplify purchasing decisions and improve operational efficiency.
The platform combines voice technology with mobile messaging tools such as WhatsApp to guide users through transactions, while also enabling device trade-ins through automated video analysis.
Developers said the system currently supports operations in about 20 countries and is capable of handling high volumes of daily interactions, including automated customer engagement processes.
They added that the solution automates routine merchant tasks such as inventory management and customer follow-ups, even in low-connectivity environments, thereby expanding access for small and medium-sized enterprises.
Founders also disclosed ongoing efforts to partner with telecommunications providers to reduce communication costs and scale adoption of their platforms.
Industry analysts at the event observed that many startups are increasingly prioritising customer lifetime value, reinvesting revenues into marketing, user acquisition, and product optimisation to build resilient and scalable business models.
They noted that such strategies are essential for navigating challenges including exchange rate volatility, infrastructure gaps, and regulatory complexities across African markets.
The “Gathering on 100” highlighted the growing influence of youth-led innovation in shaping Nigeria’s digital economy, with stakeholders expressing optimism that sustained collaboration between startups, financial institutions, and telecom operators would accelerate digital inclusion and unlock new economic opportunities.
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