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New Starcomms is a Public Trust with Better RoI-Eleso

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Professor David O. Adewumi, NCS President
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Demola Eleso, CEO designate, Starcomms Plc is a seasoned telecoms professional of more than 20 years.
Eleso was formally chief executive officer of Multi-Links Telecommunications Limited and has also held same position at MTS First Wireless.
His life revolves around telecommunications because he was also chairman of Contact Solutions ,  the premiere contact & call centre services provider in Nigeria and chief technical officer , MTN Nigeria, where he was responsible for designing, planning, implementation and the operation of a nationwide GSM network in Nigeria.
He believes that a new Starcomms Plc with the right mix of technology, fund and expertise will give better returns on investment and deliver world class services.

Our Venture into Starcomms
We believe that this is a compelling requirement and we are going to be successful with it. We are trying to satisfy a demand that is already there. We are not trying to create demand.
 Nigerians, of course want to be connected to the worldwide networks of various transactions, information databases and e-commerce sites.
 And today, our networks are charged towards making that delivery. What we have is an opportunity to put together the technical ingredients that create a data connectivity network that can satisfy the urgent demand.
And we believe that once we put that together, a large share of customers will join, enjoy and stay on the boosted network.
That’s the reason why we think that this deal and amalgamation will yield result.
 
Dwindling Fortunes of CDMAs and Strategies to Grow the New Deal
It will be somewhat risky to divide the market into non-CDMA successful and successful ones.
The CDMA operators that failed, as we identify them, they failed for many reasons.
Most of which has to do with their business modules and not really technology.  I think we need to be careful, because the label that we place on the networks in Nigeria is like giving the dog a bad name.
There is actually nothing wrong with the CDMA technology. The technologies are well proven and have been used extensively around the world. They satisfy many communities in a profitable manner.
So the failure or lack of success with the CDMAs sector has more to do with the modules than the actual technology.
Now, what we want to do is that we are simply getting the valuable resources from the operators, extracting the value which is principally the spectrum and putting that on new technology to satisfy our customers.
And we are doing so and learning from the failure of the past and the advantage of the strong management that will be put in place so that we have a sound company that will take advantages of the opportunities that are out there.
 So, I believe those are the ingredients that will make us viable and successful.
 
Efforts towards Voice Services
We will continue to support all the existing products, voice services inclusive.
So, in terms of where we have customers making use of those services we will continue to maintain the products and we will even inject some parts of our funds to make sure that those services get better over time.
 It is true that our main business focus is on mobile broadband data services, because that is where the huge demand is.
Also, in the telecomm sector, the big GSM operators are dominate in the voice segment.  Thus, looking at areas we have to achieve success, we don’t have to put ourselves like David, engaging in fight with the Goliath, every week.
We can do that once or twice, but we have to focus our energies where we have unique advantage.
 
Foreseen Technological Challenges
If you examine the aggregation of spectrum that we have put on the NCC spectrum line, you will observe that either of luck or hard work, we are actually putting together spectrum that is contiguous.
 It is in a straight line, we are not crossing various bands of spectrum. The companies we are putting together happen to be next to each other.
So, it is a very simply technology integration for us to harmonise the spectrum and create one company, one service through a seamless technology provision.
In other words, we are blessed in that regards, certainly on the 1900 band.

Unified Licences and Business Opportunities   
We are listening to experts of national and international proportions. Apparently, there is an evolution in the sector.
And due to the evolution we have moved from one 1G services to 2G services, which is about GSM and we have now moved to 4G services.
So, Starcomms and the new deal will embrace new technology platform and it is following evolution on which we are going to deliver services that meet demand.
 I don’t see us back tracking towards a GSM service; just like I said the dominant GSM service providers already occupy that space.
 
Using Mobility as Competing Edge           
Yes, we are going to use every opportunity in our licence regime to enhance the services we deliver same so that voice customers who have mobility today will have extended mobility in the future.
Both our existing and future technology will enable us to do that.

Will Starcomms  still be Quoted on the Stock Exchange?
Starcomms is listed on the stock market and we are going to be listed. We have a play that within three years the minimum requirement in terms of quantum of shares is listed to have enough turn over.
Therefore, we are still in the market. In fact, part of the attractiveness of this whole transaction into Starcomms as a vehicle was the fact that it is the only listed telecommunication stock on the Nigerian Stock Exchange.
 That shows the level of transparency and opportunities in our national and international businesses. The valuation is clear, there is no dispute.
 And we believe the shareholders recognized these facts and expressed optimism that somewhat a 50kobo dormant can actually appreciate.
Even the right issues being planned for the existing shareholders will be tradable on the Nigeria Stock market.
 
Rumours of Retrenchment and Closure of Business Units
First and foremost, Starcomms did not sack any staff. That does not preclude that if a staff cannot be sacked for one reason or the other, or even disciplined.
Probably, it was a misinformation, because in the last 14 months we have not sacked any staff.
On the closing down of some of our shops, our plan is to migrate the existing subscribers of MultiLinks into Starcomms platform.
So nobody loses out. We planned that in the next five years, we will have minimum of 2 million subscribers on data.
We hope to get to a level where anybody who talks to us does that free. That is talk on-net free once you are using our service, which is even different from Skype.
Once we migrate to the new platform we should be able to have the apparatus.
 
Challenging Business Environment
Definitely, the major factor for the declining fortunes of the CDMAs was due to distress. We all know how many CDMAs have left now.
The two that we all recognized to full deliver they are not full running. They suffered distress.
Secondly, business environment has been a limitation. With the advent of GSM operators and with protection they  had for five years, before other CDMAs started scrambling for a national licence, everybody had a phone and it is the same subscriber that the CDMA operator hoped on to come on board.
Now, for you to bring a CDMA operator to come to your network you must part with a phone or you configure that phone.
So, it put additional pressure on working capital requirement of CDMA operators.   And consequently, the kind of competition they can pose for GSM operators who only put SIM card.
Also, in some quarters, the CDMAs are being tagged the alternate networks.
 Be that as it may, what we intend to do is to grow the network, optimize it in such a way that wherever you are you can have access or get connected.
We know how bad GSM operators are doing, if we provide better service to the public, even though it is an alternative platform, it will become a network of preference over time.
We may not cover the entire nation, but wherever we are people will enjoy the network in terms of voice.
 
Arrangement for Shareholders
Currently, Starcomms carries 6.9 billion shares, if you want to issue 90 per cent of that to Capcom, then you we to consider the number of share we have to issue; so we are trying to do is to reorganize the shares in the ration of 100:1. That is for every hundred shares you have you get one.
 Thus, the real value of each share is 50 kobo. And with that, it collapses the number of shares that will be calculated and we can issue new 90per cent percent of whatever we want to give to Capcom.
The key thing is that they are not losing value. We have heard discussion with the shareholders and have also gotten support from them.
 And we are positive that once everybody is enlightened, no doubt we will get the best result. That flows from knowing what is being done.
They have been engaged from the time of AGM and several shareholder meetings. The institutional investors were also engaged.
 
 Expected Dividends from the New Business
Our business calls for a better positive outcome in about three years depending on the market dynamics.
And we hope to return over $100 million into the business by 2017.
All is in reaction to the subscribers.
 Before now, the drumming have been top get to them, now we have gotten to a level where we want to hear from them what they want and that we will deliver.
That might change, it’s is something we have worked on in the last one year.
 
Tackling Labour Issues
Well, I am glad that our workforces are glad to have a job. They know that sacrifices in forms of rendering required services to vendors and subscribers will keep us going.
 They know that Capcom is coming to give us all a new future, so, a body of employees that are very vast as to what is going on and know what is in stake will be very supportive.
They are keen for this transaction to get concluded so that we can get into business. We have seen a tremendous support from the workforce.
 
Technical Changes?
We will start by undergoing technical repairs to the existing Starcomms business.
 Our launch of new network will be by next year.
The new board emergence will debate on keeping Starcomms as the Business Name or a new brand that reflects a new style.   
 

       

 


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Payaza Secures Dual Credit Rating Upgrades, Expands Footprints in Africa

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Payaza Africa, a payments infrastructure company in Africa, has strengthened its market position with two major rating milestones.

While rating firm, DataPro upgraded Payaza from A to AA-, Intelligent Africa upgraded the fintech firm to an A- investment-grade credit rating.

A statement by the company said the recognition, which marks its fourth credit rating, further validates Payaza’s financial strength, operational discipline, governance standards, and long-term strategic direction.

“The latest ratings build on Payaza’s growing track record of institutional credibility, reinforcing confidence in its business model, performance, and resilience. Together, they position the company as a stable, future-ready player within Africa’s financial services ecosystem and a brand with increasing relevance in the global fintech space,” the firm said.

Commenting on the feat, Seyi Ebenezer, chief executive officer of Payaza Africa, said: “This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving our latest rating sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability.

“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.

“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments but as a maturing financial institution with the operational depth to compete globally.

“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” he said.

Beyond the ratings, Payaza is also expanding its innovation footprint with the introduction of “Chat and Pay by Payaza,” a new payment feature that enables merchants accept payments and generate receipts for their customers directly from WhatsApp.

The company is also rolling out a new storefront solution for business owners, called Shopaza. The platform enables business owners and merchants to sell products and collect payments with greater ease. These additions reflect Payaza’s continued focus on building practical, accessible tools that simplify commerce for businesses and consumers alike.

With its latest ratings and new customer-focused solutions, Payaza is reinforcing its role as one of the brands helping shape the next chapter of trusted financial infrastructure in Africa and beyond.

Payaza is a leading payment infrastructure company providing seamless solutions for collections, payout, and embedded financial services. The company is focused on building reliable, scalable, and trusted payment systems that support businesses and drive financial access globally.


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EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

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Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over "419"

Halimat Adenike Tejuosho,

A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.

The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.

The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.

The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.

Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.

According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.

 


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Afreximbank to Fund 3 New Refineries in Nigeria

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African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

 Afreximbank to Fund 3 New Refineries in Nigeria

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.

“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.

The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.

Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.

According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.

He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”

The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.

Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.

Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.

He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.

“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.

Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.

The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.

 


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