Telecom
MTN Investment in Nigeria Hits N2trn

MTN Nigeria Communications Plc has invested more than N2 trillion in its business operations over the past 18 years.
The market value of MTN Nigeria closed at the weekend at N2.585 trillion.
MTN Nigeria, in a regulatory filing at the Nigerian Stock Exchange (NSE) at the weekend, indicated that it has invested more than N2 trillion since incorporation in 2001.
MTN Nigeria reiterated its commitments to the Nigerian economy, noting that it had paid more than N1.7 trillion in taxes, levies and other regulatory fees in its nearly two decades of existence.
The market value of MTN Nigeria dropped by 1.59 per cent to close weekend at N2.585 trillion.
The share price decline came on the heels of what the telecommunications company described as “technical disagreement” with the Federal Inland Revenue Service (FIRS) over the tax treatment of the N330 billion fine imposed on the company for failing to deactivate more than five million unregistered SIM cards. MTN Nigeria had completed the payment of the N330 billion fine in May 2019 but the tax treatment remains a subject of judicial review at the Tax Tribunal.
MTN Nigeria believes the N330b fine should be treated as part of operating cost and not subjected to any other tax but FIRS holds that the fine should be subjected to tax.
MTN Nigeria has remained Nigeria’s second largest quoted company since listing on the NSE in May 2019. MTN Nigeria last month earmarked N60 billion as interim cash dividend to shareholders as it released its first earnings report as a quoted company.
The board of the telco indicated shareholders will receive a dividend per share of N2.95 for the first half ended June 30, 2019. This however represented a drop of 17.83 per cent from N3.59 per share paid for the first half of 2018.
Key extracts of the six-month report for the period ended June 30, 2019 showed that MTN Nigeria’s profit before tax rose by 30.9 per cent to N141.8 billion in first half 2019 as against N108.35 billion recorded in comparable period of 2018. Profit after tax grew by 34.8 per cent from N73.4 billion to N98.93 billion.
Total turnover grew by 12.12 per cent to N566.95 billion as against N505.67 billion. Operating profit had risen by 39.49 per cent from N136.50 billion to N190.4 billion. Earnings per share rose by 34.8 per cent to N4.86 compared with N3.61.
The report showed that the telco’s mobile subscribers increased by 3.3 million within the first six months of this year to 61.5 million while service revenue increased by 12.2 per cent. Voice revenue increased by 11.4 per cent, data revenue rose by 31.7 per cent while fintech revenue increased by 21.2 per cent.
However, digital revenue dropped by 64.5 per cent. The company’s earnings before interest, tax depreciation and amortization (EBITDA) rose by 40 per cent to N304.9 billion while EBITDA margin improved by 10.7 percentage points to 53.8 per cent.
Nigeria is MTN’s largest market, accounting for one-third of the South African Group’s business. The telco last week announced that the Central Bank of Nigeria (CBN) has granted its subsidiary, Yello Digital Financial Services Limited (YDFS), full Super Agent Licence. The licence will enable MTN Nigeria to convert its existing airtime agents and recruit other small businesses to distribute financial services.
The telco stated that the Super Agent Licence will enable it to pursue its fintech strategy, as part of efforts to deepen financial inclusion in Nigeria.
Ferdi Moolman, chief executive officer, MTN Nigeria Communications Plc, described the first half performance as a solid performance as the company continued to invest to improve network quality and expand 4G coverage.
He noted that recent work on revamping data prices and accelerating 4G network has put the company in a strong competitive position to offer more value to customers and provide new impetus for overall corporate growth.
He said the listing of the company on the Nigerian Stock Exchange (NSE) in May 2019 demonstrated the company’s commitment to the Nigerian market while providing opportunity to domestic investors to participate in and benefit from the company’s growth.
“Our overriding priority for the rest of the year is to focus on our BRIGHT strategy to build a sustainable business and create value for customers. We will continue to progress in the second half of the year making improvements to our network experience, subscriber growth and enhance operational efficiency. We expect lower data pricing and our acceleration of the 4G network expansion to bolster the acquisition of customers and data traffic volumes in the second half,” Moolman said.
Telecom
TikTok, Instagram Blamed in US Youth Suicide Lawsuit

Major social media giants Meta Platforms, TikTok and Alphabet’s YouTube will face a landmark jury trial this week in Los Angeles County Superior Court over allegations that their addictive designs have fuelled a youth mental health crisis, marking the first such case to reach this stage.

Social Media
The pivotal personal injury lawsuit centres on a 19-year-old Californian woman identified as K.G.M., who claims her childhood immersion in Instagram, Facebook, YouTube and TikTok—engineered with endless scrolls, autoplay videos, notifications and algorithms—sparked severe anxiety, depression and suicidal thoughts.
Dozens of similar suits have surged since 2022 from families, schools and states, accusing the firms of burying internal research on teen harms while prioritising ad revenue through youth-targeted engagement hooks, despite Section 230 protections for user content.
Plaintiffs seek damages and design overhauls, arguing platforms bypassed parents and preyed on vulnerable kids; defendants counter there’s no clinical “social media addiction” diagnosis, no proven causation—kids with issues often use less—and they’ve added safeguards like parental controls and time limits.
Echoing Australia’s under-16 bans, the trial will scrutinise thousands of internal documents, expert testimonies and K.G.M.’s story, potentially expanding tech liability amid debates where studies show complex links, not direct causation, between screen time and disorders like eating issues or self-harm.
A win could mandate warning labels, age gates or algorithm tweaks, reshaping global platforms as U.S. Surgeon General advisories and global scrutiny intensify pressure on Big Tech to prioritise child safety over profits.
Telecom
Meta Tests Paid Subscriptions Across Instagram, Facebook, WhatsApp

Meta is gearing up to trial paid subscription services on Instagram, Facebook, and WhatsApp, aiming to diversify revenue streams beyond advertising while maintaining free core access for all users.

Meta
The subscriptions will offer enhanced tools tailored for everyday users, creators, and businesses, including advanced content creation, sharing, and workflow features distinct from the existing Meta Verified verification program. Unlike a uniform rollout, Meta plans varied testing formats per app to match diverse audiences, experimenting with feature bundles based on user feedback to refine the model.
A key element involves integrating Manus, the autonomous agent firm Meta acquired for $2 billion in December, into these apps alongside its enterprise sales. Manus enables complex task automation with minimal input, with early signs like Instagram shortcuts already spotted by reverse engineer Alessandro Paluzzi.
Video tools feature prominently: Meta’s Vibes short-form video generator in the Meta AI app shifts to freemium, where paid tiers unlock higher monthly creation limits beyond the free baseline. On Instagram, subscriptions could enable unlimited audience lists, non-follower tracking, and anonymous Story views, though specifics for Facebook and WhatsApp remain under wraps.
Drawing from Meta Verified’s 2023 launch—which provides badges, support, and protection mainly for creators—these broader plans target wider appeal amid industry shifts. Ad growth slows against TikTok competition, while Snapchat+ boasts 16 million subscribers at $3.99 monthly, proving demand for value-driven paid perks despite subscription fatigue risks from streaming and storage fees.
Meta will phase tests gradually, prioritizing feedback to shape long-term viability without alienating free users.
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.
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