Telecom
MTN Faces R4.6Bn Repatriation Problem

MTN faces the risk of not being able to repatriate about R4.6billion from Iran if US President Donald Trump persuades his allies in Europe to reimpose sanctions on the Middle Eastern nation, according to Business Day SA
MTN has been in discussions with Iran’s central bank to repatriate the remaining €300m in legacy cash that is stuck in that country, though those efforts could be scuppered if the US, UK and Europe pull out of the 2015 Iran nuclear deal. A decision is due to be announced on May 12.
If the US withdraws but does not convince the EU to do the same, MTN will still be able to repatriate Iranian funds by exchanging them for euros and then rands.
But a “worst-case scenario” would be for MTN’s Iranian business to be shut off from both European and US financial institutions as this would lock in MTN’s funding, MTN chief financial officer Ralph Mupita told investors on Thursday.
“But we think there will be something less than that negotiated in and around the twelfth [May 12],” Mupita said.
In April the Iranian government announced a single currency rate of 42,000 rials to the US dollar, an effective 11.4% decline in the central bank rate.
“Any transaction we do now would be at the 42,000 [rials] level and we did move some money last week at 42,000 [rials],” Mupita said. MTN Irancell moved €30m back to the group in the first quarter.
Mergence Investment Managers portfolio manager Peter Takaendesa said concern about Iran, which had already dented MTN’s share price, had been partly tempered by the fact that MTN would receive funds from the listings of its businesses in Ghana and Nigeria.
Sanctions on Iran would lift the oil price, which would be a boon for MTN’s largest business, its Nigerian operation, Takaendesa said.
Excelsia Capital analyst Mark Narramore said Iran “is probably the biggest foreign exchange risk across the group”.
If Irancell’s dividends were trapped in that country that could weigh on MTN’s dividends at a group level, though the dividend would be partly protected by a recovery in Nigeria, Narramore said.
It appeared as though “the worst is over in Nigeria”, where the local currency had stabilised with the oil price, he added.
Partly because of that, Narramore said: “MTN’s earnings growth profile is probably looking better than most of its emerging market telco peers”.
MTN said on Thursday its service revenue in Nigeria grew faster than inflation in the three months to March — the first time in a number of reporting periods. MTN Nigeria’s service revenues rose 14.4% compared with that of a year before, and margins also rose.
Group service revenue increased 9.1%.
MTN CEO Rob Shuter said the group had largely resolved a dispute with Benin.
MTN had agreed to pay frequency fees for 2016 and 2017 of $126m and extended its licence by five years. Further, a fibre-in-the-loop agreement had been added to MTN’s licence conditions. “I think that it is a decent resolution to a difficult situation,” Shuter said. (Business Day SA)
Telecom
Why Nigeria Must Embrace .ng Now – NiRA Reveals Five Critical Steps

Nigeria Internet Registration Association (NiRA) has outlined five strategic pathways to accelerate the adoption of the .ng domain and position it as a critical driver of Nigeria’s digital economy.

NiRA
Oluwaseyi Onasanya, Chief Operating Officer of NiRA, presented the framework at a Media Advocacy and Capacity Building Workshop held on April 16.
Onasanya described the .ng domain as a key component of Nigeria’s digital sovereignty, noting that the country has about 65 per cent internet penetration and over 35.6 million Micro, Small and Medium Enterprises (MSMEs) contributing nearly 48 per cent to the Gross Domestic Product (GDP).
She said the first pathway involves mandating the use of .ng domains across all Ministries, Departments and Agencies (MDAs), as well as subnational entities, government vendors and tax remitters.
According to her, this would ensure that all official digital communications with government institutions are conducted through .ng platforms, while also linking domain usage to Corporate Affairs Commission (CAC) registration and procurement processes.
The second strategy focuses on a nationwide awareness campaign tagged “Own Your .ng, Own Your Future,” aimed at promoting the domain as a symbol of national identity, trust and economic value.
Onasanya said the third pathway calls for leadership from the private sector, urging banks, telecommunications companies, startups and SMEs to adopt .ng domains and integrate them into onboarding processes.
She added that the fourth strategy seeks to position .ng as a secure and regulated alternative to foreign domains, enhancing consumer confidence, improving local search visibility and strengthening jurisdictional control.
The fifth pathway centres on expanding the digital ecosystem by strengthening registrar networks, simplifying user experience and integrating .ng domains into internet service providers, digital platforms and national performance metrics.
Onasanya warned that Nigeria’s domain adoption rate remains low compared to global peers, noting that the country has approximately one domain per 855 citizens, far behind countries like Germany, the United Kingdom and China.
She cautioned that low adoption could lead to capital flight, as businesses continue to rely on foreign domain platforms in an increasingly digital global economy.
She also called on the media to drive awareness, shape public perception and promote adoption by highlighting the economic value of .ng domains across sectors.
“Without media, .ng stays technical. With media, it becomes economic,” he said.
NiRA said that over 240,000 .ng domains have been registered so far, with projections indicating continued growth as Nigeria targets a $1 trillion economy by 2030.
Telecom
Tech Shake-Up: Snap Cuts Hundreds as AI Drives Efficiency Push

Snap Inc., the parent company of Snapchat, has announced the layoff of about 1,000 employees as part of efforts to improve efficiency through artificial intelligence.

Evan Spiegel, chief executive officer, disclosed this in a memo on Wednesday, noting that the cuts represent about 16 per cent of the company’s full-time workforce and include the elimination of more than 300 unfilled roles.
Spiegel said advancements in artificial intelligence were enabling teams to reduce repetitive tasks, increase productivity and accelerate project execution.
“We believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity and better support our community, partners and advertisers,” he said.
He added that smaller teams using AI tools had already delivered meaningful progress across key initiatives.
The California-based firm said the restructuring would help cut over $500 million in annual costs by the second half of the year, providing a clearer path to profitability.
Spiegel described the decision as difficult, expressing regret over the impact on affected employees.
“This is an incredibly difficult decision, and I am deeply sorry to the colleagues who will be leaving us,” he said.
Snap joins a growing number of technology companies downsizing their workforce while citing productivity gains from artificial intelligence.
The company has undergone multiple rounds of layoffs in recent years amid stiff competition from rivals such as Instagram, TikTok and YouTube.
Meanwhile, activist investor Irenic Capital Management recently disclosed a 2.5 per cent stake in Snap, calling for cost-cutting measures, including a review of its Spectacles smart glasses unit.
Shares of Snap rose by more than 7.5 per cent following the announcement, although the stock remains down compared to earlier in the year.
Data from Layoffs.fyi shows that more than 72,000 employees have been laid off by nearly 90 tech companies globally so far in 2026.
Telecom
NBC Warns Broadcasters Against Bullying Guests, Passing Opinions as Facts

National Broadcasting Commission (NBC) has cautioned broadcast presenters against bullying guests during live interviews or presenting personal opinions as facts, warning that such actions will attract sanctions.

NBC
In a statement issued on Friday, the commission said it had observed a rise in violations of the sixth edition of the Nigeria Broadcasting Code across news, current affairs and political programmes.
“Broadcast platforms are increasingly being deployed in ways that depart from their core obligation to inform the public with accuracy, balance and professionalism,” the NBC said.
The commission noted that some anchors and presenters were deviating from professional standards by denying fair hearing to opposing views and compromising neutrality during broadcasts.
It stressed that such conduct violates provisions of the broadcasting code, which require impartiality and fair representation of all sides on issues of public interest.
“Henceforth, any anchor or presenter found to have expressed personal opinion as fact, bullied or intimidated a guest, denied fair hearing to opposing views, or otherwise compromised neutrality, shall be deemed to have committed a Class B breach,” the statement added.
The NBC also raised concerns over the growing use of broadcast platforms by political actors to promote divisive, inflammatory and unverified content.
It emphasised that broadcasters bear full editorial responsibility for all material aired, including live programmes, and cannot transfer that responsibility to guests.
The commission reiterated its commitment to enforcing strict compliance with the broadcasting code, warning that violations involving hate speech, incitement and imbalance would attract appropriate sanctions.
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