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Business

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ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

NGX Regulation Limited (NGX RegCo), the independent regulatory arm...

Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

Stanbic IBTC Nominees Limited marked a significant milestone on...

NGX GMD, Temi Popoola, Seeks Collaborative Alignment to Drive Sustainable Capital at IFC Confab

Temi Popoola, Group Managing Director and Chief Executive Officer...

AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

 KEYNOTE SPEECH BY THE CHAIRMAN OF THE NIGERIA EXCHANGE...

Insurance

NAICOM: 20 Insurance Firms Seek Capital Verification Ahead July 31 Recapitalisation Deadline

The National Insurance Commission (NAICOM) says 20 operators in...

emPLE Partners Lagos State, Bastion Health for International Women’s Day “emPOWERHer” Health Drive

emPLE, one of Nigeria’s rapidly growing insurance companies, has...

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

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AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

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Sovereign Trust Insurance Spreads Love with Fire Safety Drive

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Business

‘Winning with Strategic Communications’ Launch, Targets Real-World Impact

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Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

Chowdeck, Africa’s leading on-demand delivery platform, has partnered with...

Tinubu Hails Nigeria-UAE Partnership as BUA Signs MoU with Abu Dhabi Ports, Mair Group

President Bola Ahmed Tinubu has commended the signing of...

Tinubu Hails BOI on N636bn Loan Disbursement to Businesses in 2025

President Bola Ahmed Tinubu has commended the Bank of...

Reputation Economy: How Nigerian Brands Won, Lost Public Trust in 2025

P + Measurement Services, Nigeria’s leading independent media intelligence...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

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Stanbic IBTC Nominees Celebrates 30 Years of Trust with Landmark Gala Event

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AI: Powerful Tool for Economic Growth in Africa-NGX Chair, Umaru Kwairanga

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Insurance

NAICOM: 20 Insurance Firms Seek Capital Verification Ahead July 31 Recapitalisation Deadline

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emPLE Partners Lagos State, Bastion Health for International Women’s Day “emPOWERHer” Health Drive

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Africa to Record 238m Smartphones by 2020

Annual smartphone sales in Africa and the Middle East are forecast to grow by a CAGR of 15% to reach 238 million units by 2020.

According to Pyramid Research, this will surpass the 204 million unit sales in North America and 201 million unit sales in Latin America.

Following significant network investments by African operators to capitalize on the rising demand for data services, operators are increasingly becoming concerned with increasing the number of smartphone users on their networks.

Device financing – a direct approach to boosting smartphone usage.
Operators providing device financing schemes is one of the four direct strategies detailed in the report. In a region characterised by low income levels, smartphone prices can be prohibitively expensive.

To overcome this, African operators have partnered with banks to address this barrier to purchasing smartphones, such as Tigo Ghana’s partnership with Stanbic Bank to provide financing schemes for the Samsung Galaxy range of devices.

“However, a key limitation is the large unbanked population in Africa. To overcome this, operators need to consider financing schemes using mobile money,” says Mak Rahnama, Senior Analyst at Pyramid Research.

It is not just about just selling more devices.
Indirect strategies, which focus on increasing mobile data usage to drive smartphone adoption, are also found to be essential given the majority of consumers in African markets purchase their devices from various retail channels (e.g. informal sector, independent retailers) rather than directly from operators.

Rahnama states that “by providing OTT localised content, operators can incentivise consumers to purchase smartphones, and in-turn increase smartphone penetration on their networks.”

The report provides an in-depth analysis of three indirect strategies that operators can deploy to boost smartphone usage on their networks.

Huawei Probed by US for Sanctions Busting
China’s Huawei has been served with a subpoena by the US Commerce Department investigating allegations that it may have broken US sanctions on Cuba, Iran, North Korea, Sudan and Syria.

The subpoena calls for Huawei to turn over information related to shipments to those countries over the past five years.

Huawei has not yet been accused of wrongdoing. In a statement, it said that it was committed to complying with laws and regulations where it operated.

“In particular, Huawei has a strict code of conduct, rigorous training, and detailed policies relating to export control compliance and actively cooperates with the relevant government agencies, including the Department of Commerce, regarding Huawei’s compliance with export control laws,” a company spokesperson said in an email.

The investigation appears to be similar to one which ensnared ZTE, which sold equipment to the embargoed countries based on components supplied by US suppliers.

The investigation into ZTE highlighted an unnamed rival company which ZTE executives were said to be copying in their efforts to sell to the embargoed countries.

The semi-official China Daily newspaper cited an official as claiming this was a sign of US protectionism against Chinese rival companies.

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Topics

SEC Blacklists 6 Unregistered Online Trading Platforms

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Fidelity Bank CEO Assures Investors of Better Returns in 2018

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‘PR Could Grow Insurance Sector Sustainably’

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NSE Renews Onyema’s Contract for a 2nd Five-year Term

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Diamond Bank Gasping for Breath as Key Indices Slide

These are difficult and challenging times for Diamond Bank Plc as major operational indices slide as at the end of 2014 financial year and first quarter of 2015. The downward looking indices include Capital Adequacy Ratio (CAR), Net Interest Margin (NIM), Profitability, Gross Earnings and Net Margin, while the bank harvested hikes in Cost to Income Ratio (CIR), Cost of Funds (CoF), Operating Expenses and Impairment Charges.
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