Broadcasting
How Access to Finance Changes Lives
By Carol-Jean Harward, Investment Director, Norsad Capital
Africa has undoubtedly made immense gains in lifting people out of poverty. But it’s also clear that there’s still a long way to go, with the rest of the world having made up much more ground in eradicating extreme poverty. If the continent is to meet the United Nations’ Sustainable Development Goal (SDG) of ending poverty in all forms by 2030, then it’s clear that efforts must be redoubled with a focus on innovative solutions that make a tangible difference in people’s lives.
On that front, access to finance is critical. It allows people to take out the loans they need to become homeowners or to study, for example. But it also allows entrepreneurs to access the funding they need to grow their businesses. The formalisation that comes from that access, meanwhile, can make it easier for businesses to take advantage of tax incentives and subsidies, further bolstering their growth.
Fortunately, there are a number of organisations across the continent that have found innovative and exciting ways of providing Africans with access to finance. In doing so, they’re not simply replicating what has worked elsewhere. Instead, they’re taking an approach that recognises the on-the-ground realities of finance in Africa and makes extensive use of the tools that ordinary Africans use most.
A massive need
Before taking a deeper look at the approach some of those organisations are taking, it’s worth exploring how big of an issue access to finance currently is across Africa.
According to World Bank data, just 35% of people over the age of 14 in 28 sub-Saharan African countries had formal bank accounts in 2021. Of course, that average isn’t evenly distributed. Countries with mature formal financial sectors such as Mauritius (nearly 90%) and South Africa (now at 85%) have much higher rates of account holders than the likes of Sierra Leone and Guinea (both under 14%).
Even when you take mobile money – Africa’s biggest financial inclusion success story – into account, 57% of Africans do not hold any kind of bank account, according to Africa Tech. Finding ways of shifting those numbers is absolutely crucial to alleviating poverty and changing lives.
In addition to the examples I’ve already mentioned (of people taking out loans for themselves and businesses) there are a number of ways that access to finance can be transformative. Take savings for example. With easy access to financial products, people can save more easily and securely. That, in turn, makes it easier for them to ride out emergencies, invest in their own and their children’s future, and even eat healthier.
But it also allows people to access government assistance without having to stand in long queues, easily accept remittances from family members working abroad or in another part of the country, and access other financial services such as insurance.
Meeting the need with mobile
Unsurprisingly, one of the most powerful tools in addressing this need for financial inclusion is the mobile phone. In countries with high mobile penetration rates such as South Africa, Kenya, and Nigeria, it’s common for people who might not even have access to electricity at home to have a mobile phone.
As a consequence, mobile money has been a vital enabler for millions of poor people in Africa who do not have access to formal financial services like banks. With mobile financial account ownership and usage continuously rising, it’s becoming the preferred account compared to traditional bank accounts in some places.
Innovative financial solutions like mobile money play a significant role in improving the lives of many people in urban and rural areas. In the past, that was simply down to the fact that it enabled people to send and receive money. But it’s evolved beyond that, giving people access to subscription services and even to sell goods and services across international borders.
MFS Africa has played a particularly important role in driving that evolution. MFS Africa is the largest digital payments hub on the continent. It works closely with mobile network operators, money transfer organisations and financial institutions to bring simple and relevant financial services to unbanked and underbanked clients.
Since its founding, it has connected more than 400 million mobile money accounts and 200 million bank accounts. Additionally, it has helped empower more than 200 000 mobile money agents in Nigeria along with more than 260 000 clients and businesses across the continent. And by the fact that it operates across more than 600 payment corridors, it’s made it much easier for people to send and receive money no matter where it comes from or where it’s going.
Building a brighter financial future
With mobile penetration and rates of connectivity in Africa growing all the time, the role of mobile-first financial services will only grow more important. Indeed, there is no doubt that they will be vital if the continent is to reap the full benefits of financial inclusion. We’ve seen first-hand, through MFS Africa and other portfolio companies, how important innovation is to building that inclusion. It’s something that we’ve long believed in and which forms part of our mandate as a financing provider but it’s also something we’ll keep driving long into the future.
A Federal High Court in Lagos has restrained the National Broadcasting Commission (NBC) from sanctioning or punishing broadcast stations and presenters over the expression of personal opinions, alleged bullying of guests, or failure to maintain neutrality on air.
NBC
Justice Daniel Osiagor granted the interim injunction following an ex parte application filed by the Socio-Economic Rights and Accountability Project (SERAP) and the Nigerian Guild of Editors (NGE).
The court specifically restrained the NBC, its officers, agents and affiliated persons from enforcing its recently issued “Formal Notice” or imposing sanctions, fines or penalties on broadcasters based on provisions of the 6th Edition of the Nigeria Broadcasting Code, pending the hearing and determination of the substantive suit.
SERAP and NGE had approached the court to challenge what they described as an arbitrary and unlawful move by the commission to punish broadcasters for allegedly expressing personal opinions as facts, bullying or intimidating guests, or failing to maintain neutrality during programmes.
The groups also asked the court to determine whether the provisions of the Nigeria Broadcasting Code relied upon by NBC were inconsistent with the 1999 Constitution, as amended, and Nigeria’s international human rights obligations.
The suit followed an April statement by the NBC in which it raised concerns over what it described as increasing violations of the broadcasting code across news, current affairs and political programmes.
The commission had warned that presenters who expressed personal opinions as facts or bullied guests during live broadcasts would be sanctioned.
However, Justice Osiagor, in his ruling, held that pending the hearing of the substantive matter, the commission must refrain from using the formal notice to threaten, sanction or punish broadcast organisations and on-air personalities under the contested code provisions.
The matter was adjourned until June 1, 2026, for hearing of the motion on notice.
Economic and Financial Crimes Commission (EFCC) has arraigned Metro Digital Limited before a Federal High Court in Port Harcourt over alleged cybercrime and unlawful interception and rebroadcast of content belonging to Multichoice Nigeria.
Metro Digital
The company was arraigned before Justice A.T. Mohammed on an amended four-count charge bordering on cybercrime-related offences and alleged illegal rebroadcast of protected broadcast content.
According to a statement issued on Wednesday by EFCC’s Head of Media and Publicity, Dele Oyewale, the prosecution counsel, Steve E. Odiase, informed the court that the matter was scheduled for arraignment.
However, defence counsel, S.A. Somairi (SAN), reportedly attempted to halt the proceedings by drawing the court’s attention to a pending preliminary objection.
The judge, however, declined the request and ordered that the plea be taken in line with Section 478 of the Administration of Criminal Justice Act (ACJA), 2015, which allows a corporation to enter a plea in writing through its representative.
One of the charges alleged that Metro Digital Limited, alongside its Managing Director, Ifeanyi John Nwafor, and a staff member, Ikenna Kanu, both said to be at large, conspired between 2015 and 2019 to unlawfully intercept and rebroadcast protected broadcast signals in Port Harcourt, Rivers.
Another charge alleged that the defendants intentionally and without authorisation intercepted and rebroadcast broadcast signals and devices, including tiger boxes and dongles, over which Multichoice Nigeria holds exclusive rights in Sub-Saharan Africa.
The anti-graft agency said investigations into the matter began in 2019 after Multichoice petitioned the commission, alleging that the illegal rebroadcast of its content caused significant financial losses.
Metro Digital Limited, through its representative, pleaded not guilty to all four charges.
Following the plea, prosecution counsel prayed the court to fix a date for trial.
Justice Mohammed subsequently adjourned the case until June 29 and June 30, 2026, for continuation of trial.
ipNX, one of Nigeria’s telecommunications and connectivity providers, successfully powered the Queen Esther Musical, presented by the Society for the Performing Arts in Nigeria (SPAN), reinforcing its role as a key enabler of innovation across industries through reliable, high-speed connectivity.
Held at Guiding Light Assembly, Parkview, Ikoyi recently, the Queen Esther Musical delivered a captivating blend of music, drama, and visual storytelling to a packed audience. Behind the scenes, ipNX’s advanced fiber-optic infrastructure played a critical role in ensuring seamless execution, supporting the production’s extensive technical requirements, from synchronized audiovisual systems to real-time digital enhancements that enriched the overall experience for the audience within the auditorium and on digital platforms.
As sophisticated technology integrates into live performances, the demand for stable, high-capacity bandwidth to deliver this experience to online audiences has become essential. ipNX provided technical support, delivering uninterrupted connectivity that enabled production teams to coordinate effectively and execute a technically complex show without disruption. The event served as a powerful demonstration of how telecommunications infrastructure can elevate creative expression and redefine audience engagement.
“Our involvement in the Queen Esther Musical reflects our commitment to powering experiences that matter,” said Akintunde Taiwo, Head of Sales, ipNX Retail. “This production broadcast required precision, speed, and reliability, all of which our network is designed to deliver. Beyond telecoms, we see ourselves as partners in progress across sectors, and this collaboration with SPAN highlights how our solutions can seamlessly support the creative industry just as effectively as we do small enterprises and critical services.”
For SPAN, the partnership translated into a production that fully leveraged technology to enhance storytelling and audience immersion.
“We were proud to collaborate with ipNX on the Queen Esther Musical,” said Sarah Boulous, Founder of SPAN. “The scale and ambition of this production required a technology partner we could rely on completely as we wanted audience to enjoy seamless streaming on the Zaia app. ipNX delivered exceptional bandwidth and stability, allowing us to integrate digital elements seamlessly and create a truly memorable experience. Their support played a significant role in bringing our creative vision to life.”
The Queen Esther Musical not only entertained but also illustrated the growing intersection between technology and the arts in Nigeria. ipNX’s role in powering the event highlights its broader mission to connect people, ideas, and industries and ensure that innovation is supported by infrastructure capable of meeting modern demands.
By bridging connectivity and creativity, ipNX continues to demonstrate that its impact extends far beyond traditional telecommunications, positioning the company as a trusted partner in shaping experiences across Nigeria’s evolving economic and cultural landscape.
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