Nigerian Telcos Set to Fully Disable Unlinked SIMs by February 28, 2024

TODAY’S MENU

• Nigerian Telcos, Including MTN and Airtel, Set to Fully Disable Unlinked SIMs by February 28, 2024

• MTN to partner with Starlink and others to increase network coverage

• INTERPOL takes down Cyber Fraud: $300 Million seized, 3,500 arrested in coordinated operation spanning Nigeria, Ghana, and 32 nations

• Opportunities

TELECOMS

Nigerian Telcos, Including MTN and Airtel, Set to Fully Disable Unlinked SIMs by February 28, 2024

The Nigerian Communications Commission (NCC) has instructed major telecommunications operators in Nigeria, such as MTN, Airtel, and Globacom, to implement comprehensive network barring for all phone lines without linked National Identification Numbers (NINs) by February 28, 2024.

Additionally, subscribers who have submitted their NINs but remain unverified will also face complete barring. MTN Nigeria, in a notice to the Nigeria Stock Exchange, revealed the NCC’s directive.

For NINs that have been submitted but not verified, lines connected to unverified NINs will be barred on or before March 29, 2024, if five or more lines are linked. Similarly, for less than five lines associated with an unverified NIN, barring will occur on or before April 15, 2024.......….read more

MTN to partner with Starlink and others to increase network coverage

MTN is in talks with providers like Starlink, Elon Musk’s satellite company, as it pursues a plan to expand its network to reach 95% of the population in the countries where it operates.

Although significant strides have been made in the last ten years, internet access in remote locations and outside of major cities still lags behind. The financial burden of constructing network infrastructure in these neglected areas is high. According to GSMA, a global organization for telecoms, the shortfall in network coverage across sub-Saharan Africa has reduced from 50% in 2014 to 17% in 2022.

In recent times, satellites that orbit at a low earth’s altitude (LEO) have become popular as a solution to these coverage deficits.…….read more

Starlink now available in Eswatini

SpaceX’s Starlink satellite internet service, operational since 2018, recently expanded its reach to Eswatini, a small southern African country. Starlink’s expansion into Eswatini marks its emergence in the 8th country and 10th overall market in Africa where the service is now available.

The aim of Starlink is to provide high-speed internet service to regions where the traditional internet infrastructure is deficient or absent.

Eswatini, formerly Swaziland, has a population of slightly over 1 million. The country’s internet access was limited in the past, with only 8.4% of the populace connected to the internet in 2019. This lack of connectivity has negatively impacted economic growth and hindered access to vital information and services for residents…..read more

CYBERCRIME

INTERPOL takes down Cyber Fraud: $300 Million seized, 3,500 arrested in coordinated operation spanning Nigeria, Ghana, and 32 nations

INTERPOL has successfully concluded a six-month transcontinental operation, HAECHI IV, targeting online financial crimes across 34 countries. This extensive operation resulted in nearly 3,500 arrests and the seizure of assets totaling $300 million.

The focus of Operation HAECHI IV encompassed various cyber-enabled scams, including voice phishing, romance scams, online sextortion, investment fraud, money laundering related to illegal online gambling, business email compromise fraud, and e-commerce fraud.

The participating countries in this multinational effort included Argentina, Australia, Brunei, Cambodia, Cayman Islands, Ghana, Hong Kong (China), India, Indonesia, Ireland, Japan, Kyrgyzstan, Laos, Liechtenstein, Malaysia, Maldives, Mauritius, Nigeria, Pakistan, Philippines, Poland, Korea, Romania, Seychelles, Singapore, Slovenia, South Africa, Spain, Sweden, Thailand, United Arab Emirates, United Kingdom, United States, and Viet Nam.

The concerted efforts of investigators led to the identification of online fraud, arrests, and the blocking of 82,112 suspicious bank accounts. The seized assets comprised $199 million in hard currency and $101 million in virtual assets.…..read more

OTHER STORIES

Startupbootcamp AfriTech introduces mentor-led angel community and investment syndicate

The pan-African startup accelerator, Startupbootcamp AfriTech, has introduced a mentor-led angel community and investment syndicate aimed at linking startups with mentors who can provide operational assistance and capital.

Established in 2017, Startupbootcamp AfriTech is the first multi-corporate-backed pan-African startup accelerator. In March 2021, it introduced the Africa Startup Initiative Programme (ASIP) to assist the upcoming generation of early-stage African tech startups disrupting a wide range of industries. The accelerator recently admitted 10 startups into its fourth cohort.

Now, Startupbootcamp AfriTech has launched OnAfrica, a community and investment syndicate. Led by Henry Ojuor, director of programs and founder-in-residence of ASIP, OnAfrica seeks to highlight some of Africa’s most promising startups and provide them with essential support, such as funding, access to partnerships, and resources..……read more

Airbnb will pay $621 million to settle its tax dispute with Italy

Airbnb has agreed to settle an ongoing tax dispute in Italy by paying 576 million euros ($621 million). Italian prosecutors had claimed that the vacation rental company owed up to €779 million ($840 million) in short-term rental taxes that were not paid on behalf of hosts using the platform between 2017 and 2021. There were threats from Italian tax authorities to seize these funds..…..read more

Chinese Tesla rival Nio receives $2.2 billion funding from CYVN

Nio, a Chinese electric vehicle (EV) manufacturer, has obtained a $2.2 billion investment from CYVN Holdings in Abu Dhabi. This investment extends the financial standing of the firm, often seen as a competitor to Tesla, as it aims to establish itself in a highly competitive market.

This deal follows a previous investment by CYVN of $1 billion in July. As a result, the firm based in the Emirates will gain a 20% stake in Nio, as mentioned in Nio’s statement on Monday. Additionally, CYVN will also have the power to nominate two directors to the board of Nio…..read more

OPPORTUNITIES

• African social entrepreneurs are invited to apply for the FINCA Ventures Prize, which offers grants up to US$70,000 for solutions aiming to alleviate global poverty. Applications are open here.

• The Anzisha Prize has opened applications for its latest edition, focusing this year on green entrepreneurs who combine innovation and sustainability. The Anzisha Prize aims to significantly increase the number of entrepreneurs in Africa that create job opportunities. Interested entrepreneurs can apply until December 30.

• The GSMA has announced a new initiative, the GSMA Humanitarian Innovation Fund, in collaboration with the UK Foreign, Commonwealth and Development Office (FCDO). The fund aims to address humanitarian challenges in low and middle-income countries. Interested parties can apply until February 12, 2024.

• Applications are open for the African Agri-tech Scale-Up Programme, which aims to help agri-focused and agri-adjacent ventures scale across the continent more quickly. Applications are open here until December 30.