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Tuesday, 12 November 2024
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Good Morning!
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His remarks came during the 9th Sub-Sahara Spectrum Management Conference in Nairobi, where he voiced concern about the continent's diminishing focus on collaborative spectrum efforts.
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With the upcoming WRC-27 on the horizon, Gwandu stressed the need for a united front, hoping to revive a cooperative spirit that once defined Africa’s telecommunications progress.
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Highlights
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German police are investigating leads on the fugitive OneCoin cofounder, Ruja Ignatova, in South Africa. Meanwhile, the Bank of Ghana has suspended Taptap Send for violating foreign exchange and remittance regulations.
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In the financial sector, Ecobank has launched real-time cross-border payments across 35 African markets in partnership with Nium, while the UK has introduced a $5.2 million fund aimed at boosting SME financing in Kenya.
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Vodafone Egypt has secured a $150 million 5G license and extended its spectrum until 2039, while 9mobile faces a subscriber exodus as competitors continue to gain market share in September.
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Major News Stories
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Kenya's Communications Authority seeks temporary Telegram suspension during national exams: Kenya’s Communications Authority (CA) has requested a temporary suspension of Telegram on weekdays from 7:00–10:00 AM and 1:00–4:00 PM during the Kenya Certificate of Secondary Examination period. CA’s directive to telecom providers like Safaricom and Airtel aims to curb cheating, following reports of exam supervisors smuggling unauthorised materials. Analytics from NetBlocks confirm restricted Telegram access, aligning with previous exam security measures. - ITWeb
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German Police pursue leads on fugitive OneCoin cofounder Ruja Ignatova in South Africa: German police suspect that Ruja Ignatova, the cofounder of the $4 billion OneCoin Ponzi scheme, may still be alive and are exploring leads in South Africa. Known as the "Cryptoqueen," Ignatova disappeared in 2017 after being indicted on federal fraud charges in the US. Authorities have increased the reward for information on her whereabouts to $5 million. Ignatova's brother, Konstantin Ignatov, cooperated with authorities and served as a witness in related cases, leading to prison sentences for several other key players in the scheme. - MyBroadband
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9mobile sees subscriber exodus as competitors gain ground in September: In September, 9mobile faced a significant customer decline, with 7,127 subscribers switching to other networks, making up 90% of all network porting, according to Nigerian Communications Commission (NCC) data. Despite a recent management change following its acquisition by LH Telecommunications, 9mobile retained just 3.6 million active subscriptions by month’s end. Meanwhile, MTN attracted most incoming customers with 4,987 new ported subscribers, followed by Airtel with 2,205 and Globacom with 664, underscoring 9mobile's ongoing challenge to retain its customer base amidst stiff competition. - Nairametrics
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Safaricom warns tax move could affect M-Pesa adoption: Safaricom has raised concerns over government plans to convert mobile money paybills and till numbers into electronic tax registers (ETRs), cautioning that this could impact M-Pesa usage and slow digital payment adoption. The Kenya Revenue Authority (KRA) aims to expand the tax base by integrating its systems with mobile platforms, targeting firms with sales over Sh5 million annually. CEO Peter Ndegwa stressed the need for balanced tax collection that considers small business needs as Safaricom, Kenya’s largest taxpayer, engages with authorities. Despite these concerns, M-Pesa saw a 10.7% rise in transactions to Sh20.9 trillion by September. - FINTAK
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Bank of Ghana suspends Taptap Send for regulatory violations: The Bank of Ghana has suspended Taptap Send, a global remittance service, from working with local financial institutions for one month starting November 8, 2024, due to breaches of foreign exchange laws. Taptap Send allegedly operated a “cedi remittance wallet” without the required license under the Foreign Exchange Act, 2006. Also, violations included issues with remittance settlement timing, payment processing, and anti-money laundering compliance. - FINTAK
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Market and Business Moves
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Ecobank launches real-time cross-border payments across 35 African markets with Nium partnership: Ecobank has introduced real-time cross-border payment services across 35 African markets, including Nigeria, in partnership with Singaporean fintech Nium. The new service, accessible to over 32 million customers, aims to transform Africa's payment landscape by offering quicker, more efficient international transactions. Ecobank CEO Jeremy Awori highlighted the partnership’s role in advancing financial inclusion and supporting businesses in Africa's global integration. - Technext
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TSTV founder Bright Echefu launches new pay TV platform, LUFT TV: Bright Echefu, founder of Telecom Satellites Limited (TSTV), has introduced LUFT TV, a new pay TV service aimed at delivering affordable, high-quality entertainment across Nigeria and West Africa. During the launch in Abuja, Echefu emphasized LUFT TV's advanced HD technology, flexible multi-device viewing, and budget-friendly subscription plans. He assured that LUFT TV is designed for user comfort and accessibility, with satellite coverage extending across the region. - Technext
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Vodafone Egypt secures $150M 5G licence, extends spectrum to 2039: Vodafone Egypt has obtained a 5G license for $150 million and extended its spectrum licences by five years to 2039 for an additional $17 million, with both payments due in the second half of the fiscal year. Awarded by Egypt’s National Telecommunications Regulatory Authority on October 7, 2024, the license further strengthens Egypt’s growing role in Vodacom Group’s regional portfolio. - ITWeb
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MDaaS expands into Cameroon, first Francophone market to diversify revenue: Nigerian healthcare startup MDaaS has launched its first diagnostic clinic in Cameroon, extending its footprint into Francophone Africa to counter Naira volatility and increase revenue. With 16 clinics across Nigeria, MDaaS recorded over 16,000 patient visits last month and partners with 20 affiliate clinics via its proprietary tech platform. "Our tech and full-service model allow us to coordinate at scale," said CEO Oluwasoga Oni. - Cameroon Online
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Meta partners with U.S. and U.K. universities to boost VR in education: Meta has launched the Meta for Education beta program, collaborating with 13 universities across the U.S. and U.K. to gather feedback on new VR tools to make immersive learning mainstream. The program offers early access to VR and XR prototypes in subjects like science, history, and medicine, with participants including Arizona State University, Imperial College London, and the University of Michigan. Also, Meta's “digital twin” metaversity program is expanding to Europe, with immersive classes already underway at the University of Leeds in the U.K., and similar programs set to launch in Spain and Germany by next year. - TechCrunch
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UK launches $5.2M fund to boost SME financing in Kenya: The British High Commission in Nairobi has introduced a $5.2 million fund through FSD Africa to support Kenyan SMEs, aiming to mobilise up to $300 million in sustainable financing. This initiative will offer affordable credit to at least 10,000 MSMEs, improving basic services for over 200,000 people. With SMEs making up 98% of Kenyan businesses, the fund seeks to unlock new asset classes for domestic and foreign investors, especially targeting Kenya's pension funds to close the SME financing gap. - FINTAK
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Mastercard and Emirates NBD unveil virtual B2B payment solution for travel agencies: Emirates NBD and Mastercard have introduced the Emirates NBD Wholesale Travel Solution, a virtual card-based B2B payment tool tailored for travel agencies across MENAT. This solution streamlines secure, efficient transactions between agencies and suppliers, offering extended credit, payment guarantees, and fraud protection. Launched amid a global air travel surge, this product meets the growing demand for modernised B2B payments in the EEMEA region. - FINTAK
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Nokia and Fibertime expand broadband access across South Africa’s underserved communities: Nokia announced that Fibertime will deploy its fibre solution to rapidly expand broadband access to underserved regions of South Africa. Fibertime will quickly connect the next 1.5 million customers leveraging Nokia’s Lightspan FX Optical Line Terminals (OLTs) and Wi-Fi 6 enabled Optical Network Terminals (ONTs). Nokia’s technologies are key to enabling Fibertime’s flagship product: R5 a day for uncapped, unthrottled internet. - GlobeNewswire
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Other stories
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Elon Musk poised to reshape U.S. Government under new advisory role: Elon Musk’s influence on Donald Trump’s presidency extends beyond the election, with a promise of sweeping authority as head of the new Department of Government Efficiency. Tasked with cutting $2 trillion from the federal budget and reducing regulations, Musk plans to install trusted deputies across government agencies, all while maintaining control over Tesla, SpaceX, Neuralink, and other ventures. - Financial Times
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Vatican unveils AI-powered virtual access to St. Peter’s Basilica ahead of 2025 Jubilee: The Vatican has launched an AI-enabled platform for St. Peter’s Basilica, allowing global visitors virtual access to its Renaissance treasures in preparation for the 2025 Jubilee celebrations. Collaborating with Microsoft and heritage digitalisation company Iconem, the Vatican introduced a digital replica of the basilica, an interactive website, and two AI-enhanced exhibits, enhancing accessibility to the ancient church, which sees 40,000-50,000 visitors daily. - Technext
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FTX sues Binance and Changpeng Zhao over alleged $1.8 billion fraudulent transfer: Collapsed crypto firm FTX has filed a lawsuit against Binance and its former CEO, Changpeng Zhao, claiming $1.8 billion was "fraudulently transferred" to Binance and its leaders. The dispute centers on Binance’s 2021 sale of its FTX shares, funded by Alameda Research, which FTX alleges was insolvent and unable to cover the transaction at the time. - Reuters
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