Telecom
NGO Unveils Website to Fund MSMEs
MSME Crowd Funding Foundation, a non-profit making organisation on Thursday unveiled a new donation based website built specifically to raise funds and grants to support start-up, micro, small and medium sized enterprises.
Mr Magnus Nmonwu, a Trustee of the foundation, said the website was owned and operated by the Micro, Small and Medium Enterprises (MSME) Crowd Funding Foundation.
Nmonwu said at the official launch in Lagos that crowd funding was the practice of raising funds, capital or money for a project, business in small amounts from a large number of people, especially through the internet.
He said that it was also an alternative means of raising funds without going to the bank or financial institution.
“In Nigeria, the potential for crowd funding are untapped, inexhaustible and yet to be fully embraced, in spite of its successes as funding alternative in other countries.
“We, however, believe that with huge investment in education and stronger regulations in crowd funding activities, Nigeria would be on the path to crowd funding revolution, like in other notable fields of the economy.
“It is a known fact that MSMEs are the drivers or backbones of world economies.
“There are about 50 million SMEs, 100 million internet users and 120 million mobile phone users in Nigeria.
“MSMEs employ about 60 million people as at January 2014 which contributed to about 48 per cent or N38 trillion of Nigerians GDP and seven per cent of export earnings,’’ Nmonwu said.
He said that with all the natural resources that abound in Nigeria, it has yet to meet the basic needs of the citizens.
Nmonwu said that with the recent ratings of Nigeria as one of the poorest countries in the world, it was high time to start supporting one another in the little way to eradicate poverty.
He said that the platform would not only provide funds for start-ups, small and growing business, but also change the way Nigerians and the world support business operations.
“We plan to build the biggest network of entrepreneurial hub and act as the voice needed to change the landscape (policies and regulation) and challenge the status quo in favour of MSMEs.
“Our mission through www.fundanenterprise.org is to lighten the burden of doing business in Nigeria and help build, as many as possible, thriving enterprises or businesses in and beyond.
“By doing this, we believe we will support jobs creation and help improve the standard of living of Nigerians and the economy by extension.
“MSMEs in Nigeria are confronted with a number of issues, which include funding or access to funds to start or scale.
“www.fundanenterprise.org is a bridge to this gap and is here to serve as an alternative funding source for start-up, micro, small and medium enterprises,’’ Nmonwu said.
He urged the MSMEs and initiators of creative ideas to look at the alternative sources of funding and consequently, tap into the internet to solicit donations to sustain and expand their ideas.
Mrs. Chukwunonso Onny-Ezeh, Founder and CEO, Assist 2 Sell Properties Limited, speaking at the launch call on Nigerians to propagate the platform so that the visions of the trustees are achieved.
She urged Nigerians who invested in the collapsed MMM pyramid scheme to embrace this Small and Medium Enterprises (MSME) Crowd Funding project, noting that this will help to build the biggest network of entrepreneurs in the country.
She added that beneficiaries should be properly mentored in order to ensure that the grants given to them are used for the purpose for which it was intended.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
Netflix has announced plans to invest more than €1 billion in Spanish film and television productions over the next four years, reinforcing its commitment to Spain as a key creative hub in Europe.
The announcement was made by co-chief executive Ted Sarandos at an event held at Netflix’s production studios near Madrid, celebrating the company’s 10-year presence in the country.
Sarandos emphasized that the investment would contribute significantly to Spain’s economy, create jobs, and enable the streaming platform to produce more local content. He was joined by Spanish Prime Minister Pedro Sánchez in unveiling the initiative.
Netflix first established its international production studios in Madrid in 2019, following the success of the Spanish-language hit series Money Heist.
Since then, its 22,000-square-meter facility has become one of Netflix’s major production centers within the European Union.
The company currently supports over 20,000 jobs in Spain, highlighting the nation’s growing influence in global entertainment.
The investment reflects Netflix’s ongoing strategy to expand its presence in European markets through original content and local talent.
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