Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Broadcasting

Vintage Confluence Assures on Lightning-speed Transactions, Advocates Technology Innovations

Published

on

Kindly share this post

Vintage Confluence LLC, leading global Bitcoin trading company, has assured its existing and prospective clients of lightning-speed transactions that would ease their burdens and eradicate the delays that pose a threat to their bitcoin business transactions.

Precious Aire, Chief Executive Officer of Vintage Confluence LLC, gave the assurance while delivering his speech at the 2021 edition of the NITRA Technology Forum, organized by the Nigeria Information Technology Reporters Association (NITRA).

Aire, who was represented by the company’s media consultant, Patrick Aigbokhan, also emphasized on the need for enhanced technology innovations that will boost initiatives in the ICT industry.

He said: “Vintage Confluence as a company has been able to explore the required technology innovations to solve the bitcoin trading problems that formed the bane of smooth trading for investors over the years.

“We offer lightning-speed transactions taking just 10-30 minutes every 24 hours of the week in regular circumstances. We even could do better if we find a more efficient web hosting system.

This is the reason we embrace this forum because it tends to address an innovation that calls for the achievement of speedy online trades.”

While expressing his view over the possibility of Nigeria’s ICT industry achieving 30% growth in local Cloud hosting by 2024, the Vintage Confluence CEO said: “What makes the global village? It is nothing other than technology innovations. And for the intentions of the global village to thrive, there is a dire need for re-iterating and addressing the adoption of Cloud hosting, which now happens to become sacrosanct in the daily movement of data usage in the present global business world.”

He went further to explain the relevance of the Cloud: “Cloud hosting is a type of web hosting which uses multiple different servers to balance the load and maximize uptime. Instead of using a single server, your website can tap into a “cluster” that uses resources from a centralized pool. This means that even if one server fails, another kicks in to keep everything running.”

Responding to the theme of the event, ‘Achieving 30% Growth in Local Cloud Hosting By 2024’, Aire said: “So, I am strongly optimistic that 30% growth in local cloud hosting by 2024 is achievable in Nigeria. And when this happens, what do we expect of a company like Vintage Confluence whose dedicated service depends on the quality of network efficiency for speedy response communication to the need of our clients?

For us at Vintage Confluence LLC, we are a leading global organization that offers solutions to Bitcoin Holders who need to sell their Bitcoins in exchange for instant cash in Nigeria and South Africa.”

He further explained that the company’s mission is to provide traders with the most comprehensive web-based trading platform available with no hassle or verification. “We are recognized as the most reliable, fastest and cheap e-currency exchanger with collective experience dating back to the origin of Bitcoin.

No other platform offers a mix of security with convenient transparency, trust, honesty, and customer service like Vintage Confluence does.”

“As a company that only buys and not sells Bitcoins, we have been an active leader and certified vendor in the cryptocurrency industry since 2019, and our company has been able to provide amazing exchange rates and quick execution of payment from small orders to large orders. This platform provides a seamless interface between the trader and Vintage Confluence as its Vendor,” he further elucidated.

Aire also noted that Vintage Confluence has been devoted to the constant revolution of the company by listening to its users and enhancing its product mix to satisfy their requirements.

Vintage Confluence is committed to providing an exceptional customer experience in building a long-term relationship with both existing and prospective clients.

“Every day, thousands of users around the world use Vintage Confluence LLC, and they have become our best advertisers. With our minimum trade acceptance of $1000 USD worth of Bitcoin, customers receive immediate payment into their bank accounts on transactions, which makes trading with our company an experience to always remember.

“If you need to know further about us and our services, please visit our website www.vintageconfluence.com or follow us on Instagram @vintage.llc, and LinkedIn: Vintage Confluence LLC.

At Vintage Confluence LLC, we are the grandmasters of trading Bitcoins,” he added.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

MultiChoice Reportedly Testing Weekly Subscriptions amid Use Decline

Published

on

Kindly share this post

MultiChoice is reportedly testing weekly subscription plans in Uganda, aiming to ease financial pressure on customers struggling with monthly payments.

MultiChoice Reportedly Testing Weekly Subscriptions amid Use Decline

If successful, the pay-TV giant may expand the model to other African markets as it fights to retain subscribers amid economic challenges, according to the Sunday Times.

The company, which operates in 16 African countries, has seen its subscriber base shrink by 1.2 million in the past year, dropping to 14.5 million.

Half of those losses came from South Africa, where high unemployment and rising living costs have forced households to cut discretionary spending, including DStv subscriptions.

Calvo Mawela, group CEO, MultiChoice, confirmed the weekly subscription trial has been running for seven weeks.

“Within three to six months, we’ll have a good idea if it’s working,” he told the Sunday Times.

“If successful, we’ll expand it to other markets. We believe this approach can help customers in the same way prepaid mobile services revolutionized telecoms.”

MultiChoice faces financial strain from currency depreciation in key markets like Nigeria, Angola, and Ghana, alongside rising inflation.

In South Africa, economic stagnation has further squeezed consumer budgets.

Despite a recent 31% price hike in Nigeria, Mawela remains optimistic, noting that the naira has stabilized and subscriber recovery may follow.

While the new payment option could improve affordability, Mawela dismissed the idea of letting users customize channel bundles, stating, “We still don’t think it works.”

However, MultiChoice is researching tiered packages, including separate sports and entertainment offerings, to boost revenue.

The company is also streamlining costs, targeting R2 billion in savings by 2026 through reduced satellite expenses, better content deals, and fewer decoder subsidies.

As broadband penetration grows, MultiChoice reports a 38% surge in DStv Stream users.

However, its standalone streaming platform, Showmax, has underperformed initial expectations despite a 44% increase in paying subscribers. Mawela admitted the venture’s high costs are unsustainable, prompting talks with partner Comcast NBCUniversal to adjust funding.

“Streaming is the future, but data prices must improve for it to thrive in Africa,” MultiChoice stated.

For now, the company hopes flexible subscriptions and cost controls will stabilize its business as it navigates a tough economic climate.

 

 

 

 

 


Kindly share this post
Continue Reading

Broadcasting

Multichoice Nigeria Faces Revenue Decline Amid Economic Challenges

Published

on

Kindly share this post

MultiChoice Nigeria’s subscription revenue declined by 44 per cent to $197.74m in the financial year ended March 2025, down from $355.93m recorded in the same period a year earlier, as rising inflation and a worsening economic climate triggered a mass exit of subscribers.

The sharp revenue drop was driven by “sizeable customer losses in Nigeria as high inflation adds more pressure on consumers,” the company said in its latest financial report. Inflation stood at 23.71 per cent in April 2025, according to the National Bureau of Statistics.

The pay-TV provider has lost 1.4 million subscribers in Nigeria since its financial year ended in March 2023.

Nigeria alone accounted for 77 per cent of the 1.8 million subscribers lost across MultiChoice’s Rest of Africa segment, which includes markets such as Kenya, Zambia, and Angola.

Between April and September 2024, the company lost 243,000 subscribers in Nigeria, as macroeconomic and consumer conditions deteriorated further.

At the close of its 2025 fiscal year, MultiChoice reported 14.5 million total subscribers, with 7.5 million of them in RoA. The group attributed part of the overall decline in performance to foreign exchange losses resulting from a 44 per cent depreciation of the naira against the US dollar.

MultiChoice said it incurred foreign exchange losses of $158.19m and managed to remit only $133m from Nigeria at an average exchange rate of N1,589 per dollar, compared to $184m at N1,044 per dollar in the previous year.

“Nigeria’s economic challenges had a significant impact on our Rest of Africa operations, contributing to a 23 per cent drop in RoA subscription revenue to $779.66m,” said Chief Executive Officer, MultiChoice Group, Calvo Mawela.

Total subscription revenue, including South Africa, declined by 11 per cent year-on-year to $2.27bn. Overall group revenue fell nine per cent to $2.87bn, while operating profit declined by 34 per cent to $263.50m. Trading profit dropped by nearly half to $228.14m.

“Our performance reflects both the challenges we’ve faced and the resilience of our teams,” said Mawela. “While macroeconomic pressures and currency volatility have weighed on our results, our disciplined execution, cost management, and investment in new long-term growth opportunities position us well for the future.”

In spite of its declining linear subscriber base, down 2.8 million across two financial years, MultiChoice reported notable growth in its digital and streaming businesses.

DStv Internet revenue rose 85 per cent, KingMakers grew by 76 per cent in constant currency, DStv Stream increased 48 per cent, and Showmax saw a 44 per cent year-on-year rise in active paying customers.

“Our strategy is shaped by developments in our industry, such as changes in technology which are driving shifts in consumer behaviour, as well as the impact of a rise in piracy, streaming services, and social media,” Mawela said.


Kindly share this post
Continue Reading

Broadcasting

LASERC Takes Full Control of Electricity Regulation in Lagos

Published

on

Kindly share this post

Lagos State Electricity Regulatory Commission (LASERC) has issued a new directive establishing a formal regulatory framework for electricity market operations within Lagos.

With the release of Order No. LASERC ORDER/001/2025, the commission finalizes the shift of oversight from the Nigerian Electricity Regulatory Commission (NERC) to LASERC, aligning with the Electricity Act 2023 and Lagos State Electricity Law 2024.

Under the new regulations, individuals or entities involved in electricity-related activities in Lagos must obtain a license or permit from LASERC. Licenses issued by other regulatory bodies will no longer be recognized. Unlicensed operators must immediately halt operations and apply for proper authorization to avoid penalties, which include a fine of ₦20 million and additional daily fines of ₦20,000 for continued violations.

LASERC has encouraged entities unsure of their regulatory status to seek clarification to prevent sanctions. Despite the transition, existing national guidelines, including tariff structures, grid codes, and safety regulations, will remain in effect unless amended.

Dr. Fouad Animashaun, CEO and Executive Commissioner of LASERC, emphasized that the order is designed to ensure a secure, efficient, and reliable electricity market in Lagos.

He reiterated the commission’s commitment to global standards and safeguarding the interests of electricity consumers and investors.

This policy marks a significant shift in the state’s power sector and aims to enhance regulatory compliance while ensuring a more structured and effective electricity market.


Kindly share this post
Continue Reading

Trending