Telecom
Nigeria Telecom Market Ripe, But Not For Consumer Services
The Nigerian and South African telecommunications markets will maintain tempo of their developments, regrettably, not for consumer services, according to experts findings.
Historically, Nigeria and South Africa have been identified as two of the most lucrative markets by companies looking for a launch pad into Africa, the report by the International Data Corporation (IDC) observed.
Also, Nigeria has been favored for its high growth potential, while South Africa has been considered to possess a sound and effective business environment.
However, Nigeria is plagued by numerous challenges, including poor infrastructure (which often results in very high operating costs), and ineffective private and public business systems that generally create a challenging operating environment.
Presenting its outlook for the African telecommunications market in 2014, International Data Corporation (IDC) predicted a wave of growth in digital and media content over the coming 12 months as smartphone ownership explodes and African telecom users become more sophisticated in their use of mobile applications.
The global research and market advisory firm also indentified the ongoing, rapid deployment of 3G networks across the continent and the fledgling expansion of LTE services as key drivers of this growth in content.
“African telecom service providers are intensifying their efforts to develop their own application stores and generate local content, with smartphone shipments up more than 40% year on year in 2013,” said Spiwe Chireka, program manager for telecommunications and media at IDC Africa.
“These developments, coupled with the growth in mobile data consumption through smart devices, are setting the scene for the spread and use of smartphones and mobile applications in 2014. Last year marked a turning point for LTE networks in Africa, with the number of commercial deployments in the region increasing to 20, up from 4 in 2012. As a result of this accelerated growth, services such as enterprise mobility are set to become more and more commonplace in the year ahead.”
But the report contained that the cost of doing business continues to escalate, and with ongoing political instability and an aggressive regulator demanding lower termination costs and improved customer service without releasing the required spectrum, market complexities continue to escalate in the country.
IDC said: “Indeed, operators that have braved the market, such as MTN and Airtel, are starting to feel the negative effects of doing business in such a constrained environment. South Africa, on the other hand, is generally more of an unregulated oligopoly.
“Operators that entered the market post-2005 have struggled and, in IDC’s opinion, will continue to struggle to gain a notable foothold in the market for the foreseeable future. There is also no indication that the status quo will noticeably change in the short term. However, when evaluating the enterprise segment in South Africa and Nigeria, the above challenges appear minimized. Global multinational corporations (MNCs) still maintain a presence in these countries, and in terms of the local enterprise segments, these countries hold significant revenue potential for established MNCs.
In other predictions by IDC noted that, although, enterprise mobility holds promise, but Strong growth is yet to materialize.
Thus, despite the publicity surrounding enterprise mobility, IDC does not expect the uptake of such services to take off significantly during 2014, at least where mobile service providers in the African market are concerned.
Current IDC research indicates that the key issues affecting enterprise mobility adoption in the region relate to the cost of deploying these services and the quality of local connectivity.
Despite the growth in 3G deployments and commercial LTE services in the region, the coverage of these networks is relatively limited, and the quality of networks is not up to the standards required for enterprise-grade connectivity.
Furthermore, mobile data costs in Africa remain relatively high, which has created legitimate concerns around the cost of implementing enterprise mobility solutions within end-user organizations.
The London Internet Exchange (LINX) announced today that it will extend its partnership with Digital Realty to West Africa, welcoming the data centre provider to its new interconnection fabric, LINX Accra.
Digital Realty is nearing completion of its new facility in Accra, ACR2. A modern data centre strategically positioned near multiple submarine landing cable stations in Accra’s downtown area.
Ghana is one of Africa’s most internationally connected countries, thanks to the presence of these six undersea cable systems. As a result, the country’s digital landscape has grown dramatically in recent years.
LINX Accra was announced in late 2024 and is anticipated to launch in the coming weeks.
LINX stated that a new internet exchange point (IXP) for Ghana will provide future-proof and scalable solutions to propel the digital ecosystem forward.
The new IXP will be LINX’s third facility in Africa since the opening of LINX Nairobi in 2023, marking an important milestone in the company’s overall strategy in Africa.
Nurani Nimpuno, head of global engagement for LINX commented: “We are excited to be embarking on this new journey with Digital Realty in Ghana. We have strong relations with our partners across our LINX hubs in the UK, US and Kenya so I’m confident this extension of the relationship will be a success.”
Digital Realty has been a key access point for LINX’s interconnection solutions in London and also in North Virginia, US for several years.
More recently, LINX launched their first steps into Africa with LINX Nairobi in November 2023 and LINX Mombasa in February of this year, both working closely with iColo: A Digital Realty Company.
Joseph Koranteng, managing director of Digital Realty in Ghana, commented: “We’re pleased to be welcoming LINX to our new data centre in Ghana, a key milestone as we continue to strengthen interconnection across Africa.
“As demand for low-latency connectivity grows, this collaboration will play a critical role in helping to shape the region’s digital future by enabling greater access, resilience, and integration with the global internet fabric.”
Telecom
Moniepoint Clinches Two IBSi Awards for Leadership in Corporate Banking and Digital Wallet Services
Moniepoint Inc, Africa’s leading fintech platform, has been named a Category Winner in two prestigious categories — Corporate Banking and Digital Wallets — at the IBS Intelligence (IBSi) Digital Banking Awards 2025.
The accolades recognize Moniepoint’s significant impact in advancing financial inclusion and operational efficiency through its innovative digital banking initiatives across the continent.
Moniepoint earned dual recognition with the Corporate Banking award for its end-to-end digital platform empowering SMEs across emerging markets through simplified working capital access and streamlined payment processes, while also being honored in the Digital Wallets category for its scalable wallet infrastructure that enables millions to seamlessly transact, save, and manage finances—both innovations supporting broader financial inclusion and economic empowerment goals.
The IBSi Awards jury highlighted Moniepoint’s achievement in delivering measurable business impact, its ability to scale efficiently, and its pioneering approach to integrating local market needs with cutting-edge financial technology.
The IBSi Digital Banking Awards recognize technology implementations and innovation across digital banking units worldwide. This year, more than 110 submissions from over 30 countries were evaluated.
The IBSi Digital Banking Awards celebrate the most innovative and impactful technology implementation projects in the global banking sector.
This year’s competition recognised outstanding achievements among digital-only banks, neo-challenger banks, and the technology partners driving digital transformation worldwide.
“We are thrilled to be recognised in two highly competitive categories,” said Tosin Eniolorunda, CEO of Moniepoint. “These awards validate our mission to power the dreams of African businesses and individuals by building technology that works for everyday realities.
“Whether it’s helping SMEs grow or enabling simple, fast, and secure transactions for millions, we remain committed to delivering impactful solutions.”
“These recognitions from IBS Intelligence reflect the hard work of our teams and partners, and the deep trust our users place in Moniepoint,” Eniolorunda added.
“We look forward to continuing to innovate and scale inclusive digital financial services that shape the future of banking across Africa.”
Nikhil Gokhale, Director of Research and Digital Properties at IBS intelligence, said, “Over the years, we’ve witnessed a remarkable transformation in the digital banking space — from the rise of nimble neobanks to the digital reinvention of traditional institutions.
“The IBSi Digital Banking Awards honour this evolution by recognising technology-led excellence across the global banking landscape.
“Now in its fifth edition, the awards continue to recognise banks that are redefining the digital banking landscape through bold strategy, customer-centric thinking, driving innovation, inclusion and meaningful impact.”
This award complements and validates Moniepoint market leadership having been listed for three years in a row in the CB Insights annual Fintech 100, a list of the 100 most promising private fintech companies in the world and described as high-momentum companies shaping the future of financial services as well as being ranked by the Financial Times as one of Africa’s fastest-growing companies for two consecutive years.
Moniepoint Inc. powers over 10 million businesses and individuals with access to seamless payments, banking, credit, and business management tools since 2019. As Nigeria’s largest merchant acquirer, it powers most of the country’s Point of Sale (POS) transactions while operating profitably.
Processing over 1 billion transactions monthly, with total payments volume exceeding $22 billion, Moniepoint enables businesses to digitize their operations and thrive in Africa’s rapidly evolving economy.
UK-headquartered IBS Intelligence (IBSi) is the world’s only pure-play Financial Technology (traditional and new-age) research, advisory, and media firm, with a global coverage, and a 360° portfolio of intelligence offerings.
For over 30 years, IBSi’s expert teams have delivered independent, in-depth, actionable insights, with a laser focus on everything Financial Technology, to the global banking, consulting, technology, and institutional investor world.
Dr. Aminu Maida, executive vice chairman and chief executive officer of the Nigerian Communications Commission (NCC), has declared the presentation of the Regulatory Impact Assessment (RIA) Report on eight key subsidiary legislations a turning point in the Commission’s regulatory framework.
Speaking at a high-level Stakeholder Engagement Forum in Abuja, Dr. Maida noted that the comprehensive RIA, conducted in 2024, embodies the NCC’s renewed commitment to transparent, participatory, and consumer-focused rulemaking.
“This innovation in our legislative process not only enhances accountability but also recalibrates our focus areas—consumers, licensees, and government policy alignment,” Dr. Maida stated.
The NCC boss emphasized that the RIA’s three-pronged focus aimed to assess regulatory performance across:
* Consumer impact, especially with regard to quality of experience (QoE)
* Market adaptability, with respect to competition, resource utilization, and market entry
* Policy alignment, ensuring legislations support overarching governmental objectives
He urged stakeholders to rigorously engage with the RIA findings to enhance regulatory outcomes and ensure market sustainability.
In her opening remarks, Head of Legal & Regulatory Services at the NCC, Mrs. Chizua Whyte, described the RIA as “an evolutionary step in our rulemaking journey,” adding that the extensive stakeholder contributions had strengthened the report’s validity.
“With emerging technologies and policy priorities, we needed to reassess our legal instruments. This RIA was both introspective and outward-looking,” Mrs. Whyte said.
Key areas assessed include licensing, SIM registration, subscriber management, enforcement procedures, spectrum trading, and infrastructure sharing.
Mrs. Whyte revealed that feedback from industry players was instrumental in identifying regulatory redundancies, clarifying legal obligations, and shaping future reforms.
The Legal Department, she noted, is already aligning next-phase reforms with the RIA’s recommendations to strengthen investor confidence and foster innovation across Nigeria’s telecom landscape.
The forum concluded with a call for continued stakeholder participation in shaping the Commission’s evolving legislative environment.
For the NCC, the RIA initiative signals a new era of smarter regulation—balancing flexibility, compliance, and consumer trust.
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