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Local Content: NCC Awards Four Start-Ups with N20m Grant to Help Stimulate Sustainable Economic Growth

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In furtherance of its commitment to encourage development of new indigenous technologies and contents, the Nigerian Communications Commission (NCC) has awarded N20 million grant to four deserving Nigerian tech startups that are oriented in cutting-edge research to stimulate sustainable economic growth.

The four tech startups are: Clearflow System Hub, Aelaus Engineering Teams/Hyech Electronics Solutions, Kalibotics, and CyberNorth Tech.

They emerged winners of Virtual NCC Internet of Things (IoT) Code Camp and Hackathon 2021, and they received N5 million each on their innovative technology solutions aimed at making life better for Nigerians.

While the first two startups, Clearflow System Hub; and Aelaus Engineering Teams/Hyech Electronics Solutions, emerged winners on IoT category on kidnapping and banditry, Kalibotics and CyberNorth Tech, emerged winners on assistive robotics for effective e-waste management solutions.

The grant was for the novel digital solutions of four startups, aimed at finding innovative digital solutions in addressing the challenges of insecurity and to stem the growth in national e-waste rates, while advancing the frontier of Internet of Things (IoT) in Nigeria.

Speaking at the prize-giving ceremony held at the Commission’s headquarters, in Abuja recently, Director, New Media and Information Security, NCC, Dr. Haru Al-Hassan, who delivered a speech at the event, on behalf of Prof. Umar Danbatta, executive vice chairman of NCC, said the Commission, as a frontline driver of innovation in Information and Communications Technology (ICT) industry, organized the second edition of the NCC Hackathon with a view to drive the creation of problem-solving tech innovations.

Danbatta said that the initiative was in line with the objectives of the Nigerian Economic Sustainability Plan (NESP) 2020, NCC’s Strategic Vision Plan (SVP) 2021-2025, Executive Order 5 of 2017, and Section 1 (f) of the Nigerian Communications Act (NCA), 2003 which focuses on promotion of Nigerian content in contracts, science, engineering and technology.

The EVC added that the occasion also symbolises the NCC’s commitment to deliver objectives of pillars 4, 7 and 8 of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030, and the aspirations of the Commission’s SVP 2021-2025 in promoting innovative services and maintaining effective partnership and collaborations with relevant stakeholders.

Earlier, Ubale Maska, executive commissioner, Technical Services, who was represented by Head, Research and Development, Kelechi Nwankwo, noted that the event demonstrated the critical role that the telecommunications sector plays in addressing Nigeria’s social and environmental problems with innovative solutions.

He reiterated the Commission’s commitment towards continuously supporting innovations for nation building.

Underscoring the determination of the Commission towards harnessing the potentials of Nigerian youth in addressing emerging challenges through ICT, Maska said the event boldly demonstrates Commission’s resolve to champion the efforts of government to leverage telecommunications-based solutions to address societal issues that need urgent attention.

Representatives of agencies in the security governance sector, telecommunications operators, National Financial Intelligence Unit (NFIU) and Ministries, Departments and Agencies (MDAs) that attended the event lauded the NCC for the meaningful initiative.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Telcos Scale Down on Network Investments to Reduce Forex Losses

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MTN Nigeria Communications Plc and Airtel Africa Plc have reduced investments in network infrastructure to focus on minimising foreign exchange (FX) exposure and managing rising operational costs.

Telcos Scale Down on Network Investments to Reduce Forex Losses

According to businessday.ng, this was detailed in their financial statements for the nine months ending September 2024.

Their strategy aligns with earlier forecasts of decreased capital expenditure (capex) due to foreign exchange (FX)-induced losses in 2023 and 2024.

In recent weeks, Nigeria’s network quality has declined, a situation that Gbenga Adebayo,  chairman of the Association of Licensed Telcom Operators of Nigeria (ALTON), attributed to reduced investments in the sector.

GSMA, the global telecom body, has warned that lower capex could lead to a shrinking telecom sector, resulting in poorer service quality and slower coverage expansion.

“The overall financial performance of the industry in recent years has not been sufficient to support the capital-intensive nature of the business,” it said.

Karl Toriola, chief executive officer of MTN Nigeria, recently noted that investments would not flow into a sector that cannot promise returns. “We are in a big crisis,” he said.

MTNN’s core capex spending fell by 27.79 percent to N217.64 billion from N301.38 billion year-on-year (y-o-y).

“Excluding leases, our core capex declined by 27.8 percent, resulting in a capex intensity of 9.8 percent on this basis. The optimisation of core capex enabled us to accelerate the reduction of forex exposure arising from our LC-backed obligations and its impact on the business,” MTNN said.

Airtel Nigeria’s capex fell 36.59 percent to $149 million in the first nine months of 2024 from $235 million in the corresponding period of 2023.

“Operating free cash flow was $163 million, up by 73.7 percent in constant currency, largely due to the constant currency EBITDA growth and lower capex while in reported currency,” Airtel said.

This slowdown coincides with reduced revenue earnings for Airtel and reported losses for MTNN. A Central Bank of Nigeria (CBN) unification of the foreign exchange market in June 2023 triggered a sharp devaluation of the naira, which plummeted from N471/$ before the move to N1043.09/$ by December 28, 2023, and N1676.90/$ by November 4, 2024.

Airtel Nigeria’s revenue fell 46.9 percent to $755 million, while MTNN’s losses increased from N14.99 billion to N514.93 billion, despite service revenue growing by 33.7 percent to N2.37 trillion.

Over the last two years, MTN has spent N1.08 trillion on capex, with Airtel Nigeria spending $545 million in the same period. Both declared FX losses of $1.56 billion in 2023.

Beyond FX losses, surging energy costs have also strained the operating budgets of telcos.

“Average diesel prices in Nigeria increased by approximately 90 percent compared to the prior period,” Airtel stated.

MTNN’s operating expense increased by 95.87 percent to N1.13 trillion from N575.46 billion.

 


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AfriTECH 4.0 Holds in Lagos Today

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The highly anticipated Africa Tech Alliance Forum [AfriTECH 4.0: https://africatechallianceforum.africa/] is scheduled to hold today Thursday, November 07, 2024 at Oriental Hotel, Lekki Road, Lagos-Nigeria.

The forum will bring together industry leaders, policymakers, innovators, and entrepreneurs to explore the theme “Leapfrogging Digital Transformation for Future of Africa’s Economy.”

AfriTECH 4.0 is poised to address critical conversations around the digital evolution of Africa, with a focus on key topics such as emerging technologies, sustainability, policy frameworks, and innovation in the tech ecosystem.

The forum will highlight the importance of building sustainable and inclusive digital infrastructures that can drive economic growth and social development across the continent.

Event Highlights Include: Keynote Presentations, Panel discussions, Networking Opportunities.

Also, the prestigious Africa Tech Alliance Excellence (ATAEx) Awards will recognize individuals, businesses and institutions leading digital transformation in Africa.

Special Guests:

Dr. Aminu Maida, a distinguished leader in telecommunications and digital transformation; Kashifu Inuwa Abdullahi, CCIE, a transformative leader in Nigeria’s technology landscape, currently serving as the Director General of the National Information Technology Development Agency (NITDA); Professor Ibrahim Adepoju Adeyanju, the CEO of Galaxy Backbone, a key government-owned technology and digital infrastructure company; Biram Fall, the Regional Managing Director, QNET, a leading e-commerce-based direct selling company; Ebehijie Momoh, the CEO of AfrigoPay Financial Services Limited, where she leads the company’s mission to provide innovative payment solutions across Africa.

Others are; Dr. Muhammed Sirajo Aliyu, President of the Nigeria Computer Society (NCS); Dr. Temitope Alakija, Senior Lecturer in the Department of Statistics at Yaba College of Technology [Yabatech] Lagos; Adesola Akinsanya – President, Nigeria Internet Registration Association (NiRA); Engr. Gbenga Adebayo, Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON); Tony Izuagbe Emoekpere – President, Association of Telecommunications Companies of Nigeria (ATCON).

Also speaking are; Engineer Ikechukwu Nnamani – CEO, Digital Realty (Nigeria); Dr. Obadare Peter Adewale, Chief Visionary Officer, Digital Encode Limited; Mr. Emmanuel Amos, Founder – Programos Foundation/InnovationBed Africa; Chukwuebuka Ume-Ezeoke, Chief Technology Officer at CED Technologies; Dr. Oluseyi Akindeinde, Founder, Hyperspace Technologies; Happiness Obioha, Managing Director, Tecom Concepts Limited; Chukwuemeka Mbaebie, Convener, Lagos Blockchain Week; Akeem Ajisafe, Managing Director, Transblue Limited; Chika Nwosu, Managing Director, PalmPay; Jude Ozinegbe, Founder/Convener at Cyberchain; Mohammed Rudman, CEO, Internet Exchange Point of Nigeria [IXPN]; Dr. Ayotunde Coker, CEO Open Access Data Centres (OADC); Kehinde Ogundare, country manager, ZOHO [Nigeria]; Ayodeji Ogunmola, Director, Products Management at Northsnow Ltd; Oluwakayode Durodola, founder, Otuntech Limited; Lovelyn Okafor, Country Head, Nigeria at Newmark; Olaniyi Ibraheem, Business Development Manager (Africa) at UBankConnect; Adedamola Bowale, Co-founder & Technical Lead at Avancee Pinnacle, and Moniade Adeniyi, Product Innovation & Business Growth Strategist, Northsnow Ltd.

Meanwhile, innovationbed Africa is set to host “Startup Showcase” at AfriTECH, a session dedicated to startup finalists for this year’s United Nations World Summit Awards. Discussants include – David-Bobola Ojoawo, the Producer for Compas.AI; Stephen Adeyemo of Expertplug; Siro Collins, CEO of Advanced Engineering Center (AEC), WSA Winner 2023; Elijah Moses, Producer for VerionX; Rasheed Aliu Producer for LOOPBOX; Musami Umar Musam, founder of RollMal; David Ezeonyekwere, the founder of CheapMarketDeal, and Sule Wisdom David, the founder of CyclexAfrica.

QNET is the gold sponsor of AfriTECH 40. Silver Sponsors – Galaxy Backbone, Digital Realty, Digital Encode Ltd. Bronze Sponsors – CED Technologies, AfriGoPay, Tecom, Northsnow UK, Hyperspace Technologies, Palmpay, OADC.

Ecosystem Partners: NCC, NITDA,, InnovationBed Africa, ALTON, ATCON, NCS, IXPN, NiRA, Lagos Blockchain Week, Newmark Group, all are supporting AfriTECH 4.0.

Media Partners include; Techeconomy, NigeriaCommunicationsWeek, ITPulse, Ravenews, TechTrends.Africa, TechBuild.Africa, GrassRoots, DigiVation Network, TechLifewithUgo, BusinessMetrics, BusinessRemarks, SwiftReporters, TechTV, Africa Hyperscalers Media, CyberEra, ITRealms, DigitalTimes, TechnologyMirror, TechandBizNews, ITNewsNigeria.

“AfriTECH 4.0 will also feature interactive panel discussions, workshops, and exhibitions that will explore other critical topics such as artificial intelligence (AI), blockchain, fintech, smart cities, and sustainable innovation”, said Chike Onwuegbuchi, co-convener of AfriTECH. “We are grateful to the sponsors and partners”.

“Attendees will have the opportunity to engage directly with the speakers, as well as network with other industry leaders, innovators, and investors”, he added.

Participation

Online participants can join using the Zoom link here: https://shorturl.at/ETAPq.


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MTN Foundation Celebrates 20 Years of Impact in Nigeria

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MTN Foundation celebrated its 20th anniversary with a stakeholder conference in Abuja, highlighting two decades of significant contributions to communities across Nigeria.

This event provided a platform to reflect on the Foundation’s accomplishments, unveil a new logo, vision, and mission statement, and launch its Y’ello Impact Report, reinforcing its commitment to sustainable development.

The conference brought together prominent figures from both the private and public sectors, all gathered to honour the extensive impact of the MTN Foundation’s Corporate Social Investment (CSI) over the last 20 years.

A keynote address was delivered virtually by Amina J. Mohammed, Deputy Secretary-General of the United Nations, who commended the Foundation as a leading example of CSI in Nigeria.

“MTN Foundation embodies the transformative power of public-private partnerships. Its investment in education, healthcare, digital literacy and youth empowerment has touched the lives of countless individuals.

“By providing scholarships, supporting maternal and child health and helping young people develop skills for the future, the initiatives build resilience in our communities and create pathways for sustainable growth”

Guests at the event witnessed the unveiling of MTN Foundation’s new vision and mission statements along with its logo, heralding a new era of impactful initiatives where they are most needed.

“During this unveiling, the Executive Director of the MTN Foundation, Odunayo Sanya, emphasised the Foundation’s unwavering commitment to fostering sustainable growth within Nigerian communities and expanding its outreach across the nation.

“We have evolved over the years, but one constant remains: our desire to do more. We believe that so much more can be accomplished,” Sanya stated.

Sanya articulated the new vision of the MTN Foundation, which aspires to enhance the quality of life for all Nigerians and transform communities nationwide. “At MTN Foundation, we envision a Nigeria where no community is left behind.”

Sanya further outlined the Foundation’s mission moving forward, which encapsulates its commitment to holistic socio-economic development: “Our mission is to consistently enhance the well-being of our communities by fostering investments through collaborations and partnerships in capacity building, health, and economic empowerment.”

Panel discussions featuring recipients from various MTN Foundation initiatives highlighted its significant impact on women’s empowerment, education, music, economic growth, and community development.

Beyond celebrating two decades of achievements, this stakeholder conference served as a rallying call for private sector organisations to leverage their resources in partnership with government efforts to improve the welfare of Nigerian communities and promote sustainable development across the country.

 


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