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Prof. Arzac, Others Join Starcomms Board

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In the wake of its listing as a public quoted company on the floor of the Nigerian Stock Exchange, two eminent Professors and Economists have joined the Board of Directors of Starcomms Plc as the country’s 4th largest telecommunications operator builds on the momentum generated by a new competitive era and dynamic management.

Professors Enrique R. Arzac and Partha S. Mohanram join the board as non-executive directors, and come into the organization with a mission to provide considerable practical support and to uphold the highest levels of corporate governance.

The now predominantly Nigerian-owned operator’s shares were listed by way of introduction on the Nigerian Stock Exchange (NSE) on Monday, 14 July 2008, thus becoming the first listed Nigerian telecoms company on the Exchange

Starcomms was founded by the Lababidi family in 1995. Under the chairmanship of Chief Maan Lababidi (OON), and through the efforts of its world-class management team, led by Maher Qubain, Starcomms has over the years grown to become the 4th largest telecoms company in Nigeria. Since Actis and ECP, two leading private equity firms, invested in the company in 2005, the operator has increased its customer base from 100,000 to over 1.5 million and currently has a presence in 17 cities

Enrique R. Arzac, Professor of Finance and Economics, obtained Ph.D., M.A. and M.B.A. from Columbia University, C.P.N., and University of Buenos Aires. He has served as the senior vice dean of the school and as chairman of the Finance Division. He is presently co- director of the Mergers & Acquisitions Executive Program, jointly offered by Columbia and London Business Schools. He was a Ford Foundation Fellow and a W.R. Grace Research Fellow and recipient of Institute for Quantitative Research in Finance Grants.

Before joining Columbia he taught at the University of Buenos Aires, and held various positions, including: Associate Consultant, Ernst & Ernst; Chief Economist, Latin American Economic Research Foundation; and Director of Systems Analysis, Economic Development Council, Argentine Government. He has served as a financial consultant to the State of New Jersey, the United Nations Conference on Trade Development and several U.S. and foreign firms, including: Nathan Associates, Aerojet, Belding Hemingway, Alfa Group, Dynamic Corporation of America, BHD Corp. and the Equitable Life Assurance Company.

Prof Mohanram, who holds Ph.D. in Business Economics (1999), Harvard University, has since July 2006 been Associate Professor of Business, Columbia University, after promotion from Assistant Professor, Graduate School of Business, Columbia University. He was also Assistant Professor, Stern School of Business, New York University between 1998 and 2003, and Research Associate; Harvard Business School. He obtained his M.B.A (1992) from Indian Institute of Management, Ahmedabad, majoring in Finance and Operations, and B.Tech (1990) from Indian Institute of Technology, Madras, majoring in Computer Science and Engineering.

Mr. Maher Qubain, CEO of Starcomms, said, "The addition of both Prof Arzac and Prof Mohanram will add significant experience in Finance, Corporate Governance and Accounting".


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FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions

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Nigeria will criminalize the destruction of broadband fiber cables following repeated complaints by MTN Nigeria Communications Plc and other telecommunications companies that they are losing billions of naira, according to people familiar with the matter.

FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions

Federal ministry of works, which supervises federal road constructors, is finalizing the regulation that will be signed as an executive order by President Bola Tinubu, said the people, asking not to be identified as they weren’t authorized to comment.

While there are presently laws against vandalism, the authorities are aiming to regulate construction firms more closely.

The order will enforce stiff penalties on offenders, said the people, declining to provide more details or say when it will be signed.

“Telecom assets are critical backbone that supports the economy across sectors,” said Temitope Ajayi, a senior presidential aide, who noted that the Association of Telecommunications Companies (ATCON) has been demanding the classification for years.

New rules will provide “further assurance that the Nigerian government will protect their investments against vandals and criminal elements.”

The Nigerian Communications Commission (NCC) estimates that the sector will make up more than a fifth of the country’s gross domestic product by the end of 2027, up from 13.5% in the third quarter of last year.

The move will help alleviate pressure on the telecoms sector, which is facing increased operating costs and sales pressures from a sharp depreciation in the currency and a threefold increase in energy prices.

Repairs and revenue losses from damaged cables is estimated to have cost the sector almost 27 billion naira ($23 million) last year alone, documents seen by Bloomberg show.

MTN Nigeria, the biggest wireless operator in Africa’s most-populous nation, and Airtel Africa Plc bore the brunt of the costs, the documents show.

MTN suffered more than 6,000 cuts on its fiber cable last year, the documents show. On Feb. 28, a cut on its network in three different locations by a road construction firm, an oil serving company and someone burning rubbish in a manhole meant customers faced more than five hours of data and voice outages.

The operator relocated 2,500 kilometers (1,553 miles) of vulnerable fiber cables between 2022 and 2023, at a cost of more than 11 billion naira – enough to build 870 kilometers of new fiber lines to areas without coverage.

A presidential order on the matter would be welcomed, said Tony Izuagbe Emoekpere, president, Association of Telecommunications Companies of Nigeria.

“When it comes to communication infrastructure, they are destroyed at will, so we are eagerly awaiting the president’s order,” he said. “It would be a great boost to the industry, and it will also encourage investment.”

 

 


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Telegram Eyes 1Bn Users amidst Political Pressures

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Telegram, the messaging giant founded by Pavel Durov and headquartered in Dubai, anticipates hitting a remarkable milestone of one billion active monthly users within the next year.

Durov’s departure from Russia in 2014, prompted by governmental pressures to stifle opposition communities on his VK social media platform, underscores Telegram’s commitment to neutrality despite geopolitical challenges.

With 900 million active users currently, Telegram stands as a beacon of free speech in the digital realm, particularly influential in former Soviet Union republics and pivotal during conflicts like the Russia-Ukraine standoff.

Durov’s staunch advocacy for freedom of expression and opposition to censorship by tech giants like Apple and Google reinforces Telegram’s status as a neutral platform.

Opting for the UAE as its base, Durov cites its neutrality and openness as conducive to Telegram’s ethos, serving both opposition groups and governments alike while maintaining impartiality.

In Durov’s vision, the pursuit of freedom eclipses material gain, shaping Telegram’s trajectory as a bastion of digital liberation.

 

 


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NITDA, NIMC Announce Collaboration To Strengthen Digital Economy

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To further strengthen Nigeria’s digital economy in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the National Information Technology Development Agency (NITDA) and National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance and create synergy between digital identity, payment ecosystem, and secure & seemless data exchange capabilities for Nigeria.

During the meeting between the Director-General of NITDA, Kashifu Inuwa Abdullahi, and Director General of NIMC, Engr. Bisoye Coker-Odusote, with some management staff of both organisations, they discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.

This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of Public Key Infrastructure (PKI) to drive digital transformation in Nigeria.

To ensure a smooth implementation, a 12-man committee was set up. This committee will play a crucial role in kickstarting and harmonising the initiatives. It is expected to deliver a comprehensive implementation report within the next 4 weeks


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