Telecom
Mastercard Invests $200m to Acquire Minority Stake in MTN’s Fintech Business

Mastercard, financial services firm has concluded the acquisition of a minority stake in mobile operator MTN Group’s fintech business.
In a statement, MTN says it has signed definitive agreements with Mastercard for a minority investment of up to $200 million into MTN Group Fintech at a valuation of $5.2 billion on a cash and debt-free basis.
The mobile operator says the transaction, which is non-categorised in terms of the JSE listings requirements, was originally announced on 14 August 2023 and is subject to customary closing conditions.
MTN Group president and CEO Ralph Mupita recently indicated that the company was looking to sell about a 30% stake in the fintech business.
MTN’s fintech structure includes mobile money platform MoMo, insurance offerings, airtime lending and e-commerce, as well as its network services.
In its interim financial results for the six-month period that ended in June, MTN, Africa’s biggest mobile operator, revealed that its fintech business has been flourishing, with revenue growing by 21.7% year-over-year, primarily due to growth in the wallet (+20.7%), payment and e-commerce (+54.9%) and remittance (+78.9%) industries.
The Mastercard transaction comes as MTN Group is expanding its fintech business, putting the telecoms company on a solid footing, as it prepares to separate its financial services division.
According to the firm, these agreements complement the larger commercial relationship between the telephony
group and Mastercard to support the continued development and growth of technology and infrastructure to drive financial inclusion across the African continent.
“This commercial relationship is a key enabler for the acceleration of our fintech business’ payments and remittance services,” the company says.
“MTN will continue to explore opportunities for other value enhancing partnerships and investments, subject to market conditions, with strategic partners and long-term investors.”
Telecom
Nigeria Mulls Trust Fund to Preserve Telecom Infrastructure

Nigeria’s telecom providers intend to establish the Telecom Infrastructure Protection Trust Fund to pay for equipment protection as the industry faces an alarming increase in infrastructure sabotage.
The sector attended a meeting co-hosted by the Nigeria Information Technology Reporters Association (NITRA) and the Association of Licensed Telecommunications Operators of Nigeria (ALTON), where they discussed ways for safeguarding critical ICT assets in the country.
During the conference the Nigerian Communications Commission (NCC) warned that major mobile operators now suffer more than 1,100 fibre-optic cuts every week.
Speaking at the conference in Lagos, Dr. Aminu Maida, executive vice chairman, NCC, represented by Edoyemi Ogoh, director of technical standards and network integrity, said the damage is crippling service reliability and undermining national security.
To curb the damage, the NCC is enforcing stricter infrastructure standards for fibre deployment and tower construction, launching nationwide awareness campaigns, and working closely with the Office of the National Security Adviser to align with broader security frameworks.
“When vandalism occurs, it’s not just operators that lose, ordinary Nigerians feel the impact when banking, healthcare, and emergency systems fail,” Maida stressed.
Gbenga Adebayo, chairman, ALTON, reiterated the worries, criticising operators for failing to implement basic security measures such as perimeter fencing or CCTV.
He denounced the booming black market for stolen telecom components, which is frequently supported by insider cooperation.
“We need tougher prosecutions so those caught face the full weight of the law,” he urged.
In the case of NITRA, Chike Onwuegbuchi, chairman, proposed establishing a Telecom Infrastructure Protection Trust Fund to pay for preventative measures.
He also stated that educating communities about the costs of vandalism is critical to maintaining connectivity and protecting critical services.
Telecom
MTN’s mPulse Spelling Bee Returns with Regional Competitions and ₦40M in Prizes

MTN Nigeria has announced the commencement of the seventh edition of its mPulse Spelling Bee, a national competition that has grown into one of the most impactful youth literacy initiatives in the country. With a new structure that emphasises nationwide inclusion and physical regional competitions, this year’s edition will engage thousands of students and amplify the brilliance of young Nigerians across all six geopolitical zones.
Kicking off with a practice stage on July 28, 2025, the competition is open to Nigerian students aged 9 to 15 in primary and secondary schools. For the first time, regional competitions will be held physically in three cities: Ibadan for participants in the South-West, Enugu for participants in the South-East and South-South, and Abuja for participants in the North-Central, North-East, and North-West. This new structure reflects MTN’s commitment to giving every child, regardless of region, the opportunity to learn, compete, and shine.
The Spelling Bee competition unfolds in five progressive stages: Practice Stage, Round1 (Entry Phase), Round 2 (Regional Qualification), Round 3 (Physical Regional Competitions), and the Grand Finale. From the first round, the top 3,000students (500 per zone) will qualify for regional rounds, and the best 20spellers from across Nigeria will proceed to the Grand Finale in Lagos. Seven top finalists, each from the regional competitions in Ibadan and Enugu, and six top finalists from the competition in Abuja, will make up the Top 20 finalists for the Grand Finale in Lagos.
The total prize pool for this year’s edition is over ₦40 million, with rewards spread across students, schools, and teachers. The overall winner will be crowned MTN CEO for a Day, receive a ₦5million educational grant, and be named mPulse Face of the Year. The winner will also receive a brand-new laptop and smartphone. Their teacher will receive₦500,000, while the winner’s school will be awarded 10 laptops, 10 MTN 5G routers, and a ₦10 million flagship project.
“The MTN mPulse Spelling Bee isn’t just a competition; it’s a platform for young Nigerians to access recognition, leadership opportunities, and academic support. We are proud to be empowering the next generation of innovators and leaders,” said Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria.
Last year’s winner, Ikenna Ikechukwu, described his journey to the top as one that required determination and sacrifice. “Preparing for the competition meant sleepless nights. There were so many words to learn, and while it’s impossible to know them all,I aimed to master at least 60 to 70%. This platform doesn’t just reward winners; it gives you the confidence to aim higher and believe in your abilities. A special thanks to MTN for this amazing initiative that helps students learn, play, and shine,” he shared.
Now in its seventh year, the mPulse Spelling Bee continues to serve as a bridge between education and opportunity, empowering young minds to grow beyond the classroom. With thousands of students set to participate, this edition hopes to spark conversations, spotlight regional talent, and showcase the power of words in shaping Nigeria’s future.
Hosted on the mPulse website (https://mpulse.mtn.ng), the mPulse Spelling Bee is designed to promote literacy, strengthen comprehension and build confidence through digital learning and healthy competition.
Telecom
MTN Nigeria Launches Cloud Accelerator to Power Africa’s Startup Future

MTN Nigeria has announced the launch of the MTN Cloud Accelerator, a 12-week programme designed to propel African growth-stage startups into their next phase of expansion by providing access to funding, mentorship, and MTN’s robust cloud infrastructure.

Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria
Applications opened on July 7, 2025, and will close on August 15, 2025, with the first cohort of selected startups set to be announced on September 1, 2025. The programme will run from September 6 to December 6, 2025, offering founders a powerful platform to scale their businesses faster, smarter, and more sustainably.
“This initiative reflects MTN’s belief in Africa’s innovators and their ability to transform communities and economies,” said Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria. “Through the MTN Cloud Accelerator, we are giving founders the tools, networks and resources they need to compete not just locally but globally.”
Targeting startups with MVPs or live products, the MTN Cloud Accelerator is designed for innovators operating in high-impact sectors, including fintech, health tech, agritech, edtech, AI and data infrastructure, cybersecurity, and retail/e-commerce.
Participants will gain access to funding opportunities, mentorship from industry experts, API integrations into MTN’s ecosystem, and go-to-market and sales support to accelerate customer acquisition and scale faster.
The MTN Cloud Accelerator builds on MTN’s ongoing investment in Africa’s technology infrastructure. This forms part of MTN’s commitment to accelerating Africa’s digital economy and positioning the continent’s startups for global competitiveness.
Applications are now open, and startups meeting the criteria are encouraged to apply by visiting www.mtnaccelerate.com before the deadline on August 15, 2025.
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