📱MTN, Airtel grow as Nigeria’s mobile subscriptions hit 157.3M

Today’s Menu ☕️

📱MTN, Airtel grow as Nigeria’s mobile subscriptions hit 157.3M in October 2024
💵 Payaza Secures ₦50 Billion Approval for Commercial Paper Program from FMDQ Exchange
📱Meta’s Threads app reaches 300 million users, with over 100 million daily active users
🦹🏻‍♀️ Cyberattack Targets Nigeria’s National Bureau of Statistics Website; Data Integrity at Risk
📱Don’t Expect an iPhone Subscription Anytime Soon: Apple Shelves Project
💰 South African fintech and alternative funding provider, Sourcefin, has successfully secured ZAR150 million (approximately US$8.2 million) in funding

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📱MOBILE TELECOMS

MTN, Airtel grow as Nigeria’s mobile subscriptions hit 157.3M in October 2024

After months of decline, Nigeria’s mobile subscription base has rebounded, reaching 157.3 million active lines in October 2024, up from 154.6 million in September. This recovery marks a significant milestone for the telecommunications sector, which has faced challenges stemming from regulatory audits and the implementation of the NIN-SIM linkage policy.

Two major operators, MTN and Airtel, spearheaded the recovery, recording notable increases in their subscriber base:

• MTN Nigeria, the largest telecom operator by market share, added 2.2 million new subscriptions, bringing its total active lines to 80.3 million. This growth solidified its dominance, capturing 51.09% of the mobile market.

• Airtel Nigeria followed with an increase of 697,430 subscriptions, raising its total to 54.4 million. Airtel now commands 31.61% of the market share.

While MTN and Airtel showed impressive growth, other operators faced continued challenges:

• Globacom, which had been heavily affected by the NIN-SIM linkage exercise and the NCC’s audit, saw its subscriber base decline by 44,635 in October, leaving it with 19.1 million active subscriptions and a 12.15% market share.

• 9mobile experienced a further loss of 245,263 subscriptions, reducing its active lines to 3.3 million, representing just 2.15% of the market......……continue reading

💵 CAPITAL

Payaza Secures ₦50 Billion Approval for Commercial Paper Program from FMDQ Exchange

Payaza, a rising player in the African fintech space, said it has obtained approval for a ₦50 billion Commercial Paper issuance program from FMDQ (Financial Markets Dealers Quotation) Exchange. This move is part of the fintech startup’s commitment to revolutionising digital payments and financial solutions across the continent.

Payaza announced that the funds would enhance its liquidity, enabling the company to scale operations, diversify its offerings, and solidify its market leadership in Africa. The company’s vision is to become the continent’s premier payment gateway, delivering secure and innovative solutions tailored to meet Africa’s unique financial needs.

The approval of this commercial paper program comes at a pivotal time for Payaza as it works to deepen its presence in underserved markets. The funding will empower the company to address critical service gaps and support small and medium-sized enterprises (SMEs) with accessible financial tools.....……continue reading

📱SOCIAL MEDIA

Meta’s Threads app reaches 300 million users, with over 100 million daily active users

Meta’s Threads app has achieved a significant milestone, now boasting 300 million users, with more than 100 million people using the service daily. Mark Zuckerberg announced this achievement in a post on Threads, stating, “Threads’ strong momentum continues.”

Zuckerberg has frequently expressed optimism that Threads has a “good chance” of becoming Meta’s next billion-user app. Although the app is still far from reaching that goal, its growth trajectory appears to be accelerating. Threads reached 100 million users last fall and climbed to 275 million by early November.

Additionally, Apple revealed that Threads was the second-most downloaded app in 2024, trailing only the shopping app Temu, which topped Apple’s rankings. The coming weeks could bring significant changes for Threads as Meta aims to leverage this growth. According to a recent report in The Information, the company plans to start experimenting with the first ads for Threads in early 2025....……continue reading

🦹🏻‍♀️ CYBER ATTACK

Cyberattack Targets Nigeria’s National Bureau of Statistics Website; Data Integrity at Risk

The National Bureau of Statistics (NBS) of Nigeria reported that its official website was compromised by hackers. The breach was announced via the bureau’s X (formerly Twitter) handle on December 18, 2024, with a message stating: “This is to inform the public that the NBS Website has been hacked and we are working to recover it. Please disregard any message or report posted until the website is fully restored. Thank you.”

The NBS, as Nigeria’s principal agency for collecting, analysing, and disseminating statistical data, plays a crucial role in informing policy decisions and providing insights into the nation’s socio-economic landscape. The website serves as a repository for vital statistics on various sectors, including the economy, health, education, and more. A breach of this nature not only disrupts the bureau’s operations but also raises concerns about the integrity and security of sensitive national data...……continue reading

📱 MOBILE PHONES

Don’t Expect an iPhone Subscription Anytime Soon: Apple Shelves Project

Apple has ceased development of its anticipated iPhone hardware subscription service, which aimed to transform iPhone ownership into a model akin to app subscriptions. The initiative intended to allow consumers to pay a monthly fee and receive a new iPhone each year. However, after encountering delays attributed to software issues and regulatory concerns, Apple has officially terminated the project.

The concept of an iPhone hardware subscription service first emerged in 2022, generating significant interest among consumers and industry analysts. The service was envisioned to simplify the process of acquiring the latest iPhone models, thereby fostering customer loyalty and ensuring a steady revenue stream for Apple. Despite these potential advantages, the project faced multiple setbacks, leading to its eventual cancellation..……continue reading

OTHER STORIES

• MTN is set to broaden its service offerings in South Africa by entering the banking sector. The company plans to leverage its extensive customer base to provide accessible banking services, particularly targeting underserved communities...……read more

• Kenyan fintech startup Leja has achieved a significant milestone by processing US$2 billion in B2B payments since launching its B2B payments service earlier this year……..read more

• South African fintech and alternative funding provider, Sourcefin, has successfully secured ZAR150 million (approximately US$8.2 million) in funding from Futuregrowth Asset Management. This significant investment will bolster Sourcefin’s mission to provide essential financial access and specialized supply chain support to small and medium-sized enterprises (SMMEs)……read more

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