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Starlink’s Expansion to Propel SpaceX Revenue to $15Bn by 2024

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SpaceX is poised to report $9 billion in revenue for this year and is projected to hit $15 billion in sales in 2024, according to undisclosed sources.

Starlink’s Expansion to Propel SpaceX Revenue to $15Bn by 2024

The figures offer a rare glimpse into the financial health of the company led by entrepreneur Elon Musk, according to Investorsking.

SpaceX generates revenue through two core businesses: launching payloads into space aboard its reusable rockets and providing internet services through its Starlink constellation.

Starlink, the internet service venture, is expected to outpace the revenue from the launch business next year as its services expand to additional regions across the globe.

This shift will result in Starlink accounting for the majority of SpaceX’s revenue.

The specifics of SpaceX’s earnings have been closely guarded, but it is recognized that the company’s valuation recently reached approximately $150 billion in a tender offer earlier this year.

While the company did not respond to requests for comments, it is noteworthy that SpaceX is projected to register earnings exceeding $3 billion, excluding certain items.

Musk has been optimistic about the prospects of Starlink, suggesting it might be spun off in a public listing as the service’s cash flows become more predictable.

SpaceX has committed substantial investments to expand its satellite constellation and deliver high-speed internet services.

For 2023, Starlink’s revenues are anticipated to exceed $10 billion, as Musk envisions the service achieving annual revenues of $30 billion.

Earlier this year, Gwynne Shotwell, president, SpaceX,  announced that the company had already achieved a cash flow-positive quarter and was on track to become profitable.

Last week, Musk indicated on a social media platform that Starlink had reached cash flow breakeven.

 

 

 


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Airtel Partners Google to Elevate Home Entertainment

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Telecommunications service provider Airtel Nigeria has announced an innovative partnership with Google to transform home entertainment across Nigeria.

The partnership, which was unveiled at an agreement signing ceremony at the telecom giant’s Lagos headquarters, integrates YouTube, the world’s largest video platform, into the ground-breaking Airtel Smart Router to deliver seamless internet connection and entertainment experiences for subscribers across the country.

As part of this innovative update, the Airtel Smart Router further fulfils its promise as a 2-in-1 device, acting as an internet router while also converting analogue television sets into smart TVs to enable YouTube viewing on any type of TV.

Now with a YouTube app, a dedicated button on the remote control, and an operating system optimised for a seamless YouTube experience, the Smart Router is equipped to bring world-class quality entertainment closer to more Nigerians.

Speaking on the new partnership, Chief Commercial Officer, Airtel Nigeria, Femi Oshinlaja, highlighted its significance towards transforming digital entertainment in Nigerian homes.

“At Airtel, our goal to bridge the digital gap includes the provision of affordable entertainment content. Through this partnership with Google, we continue to revolutionise the entertainment space as the Airtel Smart Router offers a complete experience, delivering internet services and easy access to world-class entertainment through YouTube,” he said.

Also providing more insight about the collaboration, Director, Corporate Communications & CSR, Femi Adeniran, stated, “The integration of YouTube on the Airtel Smart Router offers an unmatched simplification of the customer experience, transforming how our customers consume digital content at home. This partnership reflects our commitment to creating affordable and innovative solutions that enhance the digital lifestyle of our customers.”

The ground-breaking Airtel Smart Router, which retails for N25,000 and arrives with unlimited data for 30 days, simplifies the streaming of movies, football matches, cartoons, music, and other forms of audio-visual entertainment for the entire family.

Olumide Balogun, West Africa Director, Google, added: “YouTube has always been about connecting people with the content they love, whether it’s exploring new hobbies, staying informed, or discovering creative inspiration.

“With this partnership, we’re making it easier for more Nigerians to access their favorite videos right from their TVs, enabling even more homes to benefit from the wealth of knowledge and entertainment that YouTube offers. It’s an exciting step toward our mission of creating a digitally inclusive Africa.”

Reiterating Balogun’s assertion, Director, EMEA Product Partnerships, YouTube, Mahesh Bhalerao said, “YouTube is the stage where culture comes to life and where everyone, from creators to viewers, can find their voice and connect with what matters most to them.

“This collaboration with Airtel underscores our commitment to bringing high-quality, on-demand content to more homes, while empowering Nigerian audiences to explore, learn, and enjoy the diversity of experiences YouTube offers.”

Airtel is committed to redefining the data access for Nigerian households via affordable and portable connection devices such as routers and MiFis.

 


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Qualcomm Celebrates Successful Completion of the Second Year of the Make in Africa Startup Mentorship Program

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Qualcomm Incorporated has announced the successful completion of the second year of its Make in Africa Startup Mentorship Program, culminating in the Make in Africa Finale 2024.

This platform continues to showcase the energy and innovation emerging from the African technology scene, demonstrating Qualcomm’s commitment to supporting startups as part of the broader Qualcomm Africa Innovation Platform.

Now in its second year, this program has successfully guided early-stage technology startups by providing mentorship, business coaching, engineering consultation, and IP protection advice.

This year’s Make in Africa finalists, from six African nations, are tackling real-world challenges across healthcare, agriculture, cutting-edge AI and industrial sectors.

The 2024 cohort includes the following startups (listed in alphabetical order):

  • Aurora Health Systems from Kenya provides AI-based cardiovascular healthcare tools
  • CropScan from Kenya uses solar-powered smart farming IoT devices
  • Cure Bionics from Tunisia makes smart 3D printed prosthetic devices
  • DevisionX from Egypt provides AI-based low-code computer vision tools
  • Kalio from Cameroon is building AI tools for Agricultural IoT
  • Kitovu from Nigeria provides tools and software for smart agricultural warehouse management
  • NextAI Studios from Kenya builds AI-based emotion detection into toys for children’s mental healthcare
  • RIM Nextgen from Kenya, uses smart tools for monitoring propane consumption
  • Sparcx from South Africa uses AI for enhancing radar signal processing
  • ViZmerald from Tunisia, is working on AI-based textile industry inspection

Wireless Reach Social Impact Fund Winner

Aurora Health Systems from Kenya was announced the winner of the 2024 Wireless Reach Social Impact Fund. This fund, provided by Qualcomm through its Qualcomm® Wireless Reach™ Initiative, aims to support startups in scaling their societal and market impact.

Aurora Health Systems was selected for their innovative wireless, portable ECG device with LTE connectivity. This device assists patients with cardiovascular disease by enabling remote data transmission of ECG data to healthcare providers, even in rural areas.

They are the first in East Africa to train ECG AI models on locally sourced data, resulting in more accurate algorithms and improved AI-powered diagnostics. Additionally, all finalists will receive stipends to further fuel their growth and help protect their intellectual property.

Highlighting the L2Pro Africa IP E-Learning Platform

In an effort to harness Africa’s vast potential for innovation and creativity, the L2Pro Africa IP e-learning Platform provides further support to startups across Africa. This free online training program, developed in collaboration with Adams and Adams, Africa’s leading IP law firm, is designed to empower startups, SMEs, and researchers across the continent.

The platform provides essential knowledge and tools to protect and maximize innovations, addressing the pressing challenge of limited patent activity in Africa. By equipping innovators with the skills needed to safeguard and commercialize their inventions, L2Pro Africa aims to unlock new economic opportunities and foster a thriving ecosystem of innovation.

Launch of Qualcomm Make in Africa Startup Mentorship Program 2025

Building on the success of previous years, Qualcomm is excited to launch the Make in Africa 2025 program. Applications are now open. Details can be found here: https://www.qualcomm.com/company/locations/africa/qualcomm-make-in-africa

 

“The Make in Africa startups are disrupting traditional industries and tackling socio-economic challenges, crafting innovative solutions with global market reach by using AI, advanced connectivity, and IoT,” said Wassim Chourbaji, SVP & President, Qualcomm MEA & SVP, Government Affairs EMEA,.

“This startup mentorship program reflects Qualcomm’s commitment to support promising early-stage deep tech startups, empowering local talents, creating jobs and driving economic growth.”

Highlights: The Qualcomm Make in Africa 2024 program supported ten startups from six African nations, addressing challenges in healthcare, agriculture, AI, and industrial sectors.

  • Nigerian startup, Kitovu, was among this year’s finalists. Founded by Nwachinemera Emeka, Kitovu is revolutionizing agriculture with its WareGuard smart warehouse management solution, designed to reduce post-harvest losses and enhance food security for millions of farmers.
  • Aurora Health Systems of Kenya was announced as the winner of the 2024 Wireless Reach Social Impact Fund.
  • Applications for Qualcomm Make in Africa 2025 are now open.

 


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S Mobile Enhances Data and Airtime Access for Students in Nigeria

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In alignment with MTN Nigeria’s vision for digital transformation and inclusion, S Mobile is making significant strides to support technological advancement and improve access to digital services in Nigeria.

By partnering with tertiary institutions and empowering young minds across Southeast Nigeria, S Mobile is playing a pivotal role in MTN’s Ambition 2025 – a corporate initiative centered on creating a human-centric, tech-driven future for Nigeria.

Speaking on the development, Gabriel Onu, Chief Digital Strategist at S Mobile group, said they have partnered with students in tertiary institutions across Southeast Nigeria to provide easy access to affordable data solutions.

“Recognizing the role of data in modern education, this partnership is aimed at enhancing students’ connectivity, enabling them to access educational resources, communicate effectively, and thrive in an increasingly digital academic environment.

“In addition, S Mobile has introduced MTN MOMO, a financial technology solution, to these institutions. MOMO offers students a seamless and secure way to handle financial transactions, reducing the reliance on cash and improving financial inclusion among Nigeria’s youth”, Onu said.

He said that, as part of its support for MTN’s technology vision, S Mobile established the S Mobile Tech Hub, a dynamic space dedicated to equipping young Nigerians with critical skills for the future.

“To date, the hub has trained and empowered hundreds of youths, fostering innovation, entrepreneurship, and technical expertise.

“The impact of the Tech Hub extends beyond education; it serves as a tool for societal transformation. By empowering youths with skills that enable them to achieve their potential, S Mobile is contributing to reducing crime and inspiring a new generation of tech-savvy leaders.

“This festive season, S Mobile is thanking its loyal customers with a Christmas Promo, offering affordable data packages as a token of appreciation.

“This initiative acknowledges the unwavering support of MTN’s subscribers and emphasizes S Mobile’s commitment to making digital services accessible to all.

“Through these initiatives, S Mobile is aligning with MTN’s Ambition 2025, a strategic goal focused on creating a better, more connected Nigeria. S Mobile’s contributions, from affordable data solutions to youth empowerment programs, highlight its commitment to MTN’s human-centered corporate objectives.

“Together, the partnership is not just about technological advancements but also about building a future where innovation drives progress and inclusion.

“S Mobile remains a committed partner in driving MTN’s mission for digital inclusion and national development. By empowering youths, fostering digital access, and enhancing financial inclusion, S Mobile is not just supporting MTN’s vision—it is actively contributing to a brighter and more connected future for Nigeria.

“As the year ends, S Mobile renews its pledge to support MTN’s vision, ensuring that its customers and the communities it serves continue to benefit from the transformative power of technology”, Onu said.


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