Telecom
Moody Predicts more M&A Activity in Africa’s Telecoms Sector

Africa’s telecoms sector will undergo more mergers and acquisition (M&A) activity as its markets continue to consolidate as they mature, Moody’s Investors Service says in a report published.
Moody’s expects more consolidation within markets as existing operators – particularly smaller third or fourth tier companies – look for ways to cut costs and expand their market share.
The African telecoms market is comprised of a mix of local, regional and international operators, some of whom have developed competitive regional footprints.
Those African countries with four or more operators or with telecom companies that have a market share of less than 15% are likely to see more consolidation. The average number of operators in each African country is three, with some countries, such as Uganda, Côte d’Ivoire and Tanzania, with six operators.
“Not all countries are able to support a large number of operators, and smaller wireless operators are finding it increasingly difficult to compete and increase their market share profitably,” says Dion Bate, Vice President — Senior Analyst and a co-author of the report.
“Companies considering potential mergers or acquisitions will be hoping for cost savings through improved economies of scale and the opportunity to apply uniform and improved branding, service and product offerings.”
Some operators will need funding to pursue M&A opportunities. With many of the larger international operators already facing revenue pressures and capital expenditure demands in their core domestic markets and thus less likely to pursue M&A opportunities in Africa, we may see some revisiting their African footprints as others seek to strengthen their regional positions.
This refocusing on domestic markets may also result in some European operators leaving African markets where they have smaller shares, the report says.
Some smaller regional players may face weaker access to capital as a result of concentrated exposures to mostly sub investment-grade countries in south, east and west Africa where capital markets are less developed.
Cross-market consolidation will be less challenging for the larger regional operators to pursue where greater geographic diversification and sizable market shares can be achieved, the report adds.
From a regulatory standpoint, operators with the third or fourth largest market share are more likely to be subject to M&A activity to which regulators are less likely to object where it results in economies of scale and increased profitability while not being a detriment to the competitive environment. We expect regulators to also favour transactions that support market stability and further capital investment and the expansion of service offerings. In-market M&A consolidation transactions which result in the largest operators further strengthening their market positions are more likely to face regulatory scrutiny.
Africa’s telecoms regulators are expected to increasingly promote market competition and improved network quality, in line with a trend seen in more developed markets.
Operators will also try to contain cost pressures through strategies such as network sharing, tower sales and outsourcing to specialised third parties.
Telecom
New Investment Fund Targets Acceleration of Emerging Technology in Nigeria

The International Rescue Committee (IRC) has announced the formation of Airbel Ventures, a new humanitarian impact investing fund aimed at accelerating the introduction and scaling of breakthrough technologies in crisis-affected communities.

The fund will invest in companies whose ideas have the potential to change humanitarian response, including digital infrastructure for frontline health systems and climate-resilient agriculture.
The launch of Airbel Ventures follows a period of rapid innovation at the IRC, despite the humanitarian sector facing record funding cuts.
In the past year, the IRC’s Airbel Impact Lab has advanced more than twenty Artificial Intelligence (AI) and technology initiatives—from anticipatory action tools powered by climate and vulnerability data, to frontline service delivery using safe, orchestrated AI systems, to breakthrough diagnostic tools for emerging diseases.
Airbel Ventures’ first impact investment is in Signalytic, a company delivering solar-powered computing devices that ensure reliable electricity and connectivity for remote health facilities.
Following the investment, the IRC will pilot Signalytic’s technology with its Nigeria Health team, demonstrating the viability of next-generation digital infrastructure in humanitarian settings.
“We know breakthrough solutions already exist—what’s missing is the path to scale in humanitarian contexts,” said Dr. Jeannie Annan, Senior Vice President for Research & Innovation at the IRC and head of the Airbel Impact Lab.
Telecom
MTN Nigeria Suffers 9,218 Fibre Cuts in 2025 as Vandalism, Theft Cripple Network

MTN Nigeria, the country’s largest telecommunications operator, recorded a historic surge in network disruptions in 2025, suffering 9,218 fibre cuts as of December 31, alongside 211 base station sites affected by theft and vandalism, incidents that disrupted mobile and data services relied upon daily by millions of Nigerians.

The data was revealed by Dr Karl Toriola, chief executive officer/managing director, MTN Nigeria via a social media post titled ‘MTN Nigeria 2025 Wrapped’.
The scale of the damage highlights the growing vulnerability of Nigeria’s telecommunications infrastructure, which has come under increasing pressure from road construction activities, cable theft and deliberate acts of vandalism.
MTN said 5,478 fibre cuts occurred within just the first seven months of 2025, with 760 incidents recorded in July alone, underscoring the intensity of the challenge.
Some of the incidents had wide-ranging consequences, knocking out connectivity across multiple states simultaneously and affecting voice calls, data services, digital payments and enterprise operations.
The company described the situation as a national infrastructure problem, rather than an isolated corporate issue, given the economy’s deep dependence on mobile networks.
“These gaps were shaped by real operational challenges such as fibre cuts, theft, and vandalism. Their impact is felt directly by customers and reflected in what they tell us,” Toriola,
The disruptions were reflected in customer feedback volumes, as MTN handled an unprecedented number of complaints during the year. The operator said it resolved 1,624,263 customer complaints in 2025, spanning call centres, social media platforms, emails and physical service centres nationwide.
Despite the setbacks, MTN pointed to signs of operational resilience. The company retained its ranking as Nigeria’s best network by Ookla, returned to profitability after a challenging period, declared an interim dividend, and expanded its subscriber base to over 85 million users by September 2025.
The figures show that while Nigeria’s telecom operators continue to invest heavily in network expansion and customer service, infrastructure sabotage remains a major drag on service quality and operating costs.
MTN acknowledged that performance improvements remain a work in progress. “We are not where we want to be yet. We see you. We hear you. We exist because of you. And we will get better,” Toriola said.
As the company enters its 25th year of operations in Nigeria, Toriola said MTN is doubling down on customer-centricity, treating every piece of feedback as a guide for improvement, while also stepping up engagement with government agencies.
The CEO renewed calls for stronger regulatory and legal protections for telecommunications infrastructure, urging policymakers to classify fibre cables, base stations and other critical assets as national infrastructure and criminalise vandalism to deter repeat attacks.
Telecom
NCC Licences Six New ISPs to Challenge Telcos, Satellite Giants

Nigerian Communications Commission (NCC) has granted operating licences to six new Internet Service Providers (ISPs), effective January 1, 2026, raising the total number of authorised ISPs in the country to 231 from 225 recorded in December 2025.

NCC
The newly licensed firms are Intellvision Technologies Limited, Granet Technologies Limited, Fiber Sonic Limited, Dasol Solution Services Ltd, Boost ISP Limited, and Amazon Kuiper Nigeria Limited.
Five of these companies are headquartered in Lagos, while Granet Technologies Limited operates from Owerri in Imo State, highlighting the persistent concentration of broadband infrastructure in major commercial hubs like Lagos, Abuja, and Port Harcourt.
This development intensifies competition in Nigeria’s broadband market, which faces pressure from dominant mobile network operators such as MTN and Airtel, alongside rapid expansion by satellite providers like Starlink.
Traditional ISPs continue to grapple with shrinking customer bases, aggressive data pricing from telcos, and satellite disruptions, even as NCC data from Q2 2025 showed Spectranet, Starlink, and FibreOne controlling about 65 per cent of the 313,713 active ISP subscribers.
The inclusion of Amazon Kuiper Nigeria Limited marks a significant entry of global satellite broadband competition, building on Nigeria’s recent approvals for other low Earth orbit providers to enhance connectivity in underserved areas.
Industry analysts view the licences as a strategic push to improve internet quality amid rising demand for digital services, though geographic clustering underscores ongoing infrastructure challenges outside urban centres.
NCC’s move aligns with broader efforts to foster a competitive telecoms sector critical to Nigeria’s digital economy ambitions.
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