Connect with us

Telecom

Nigeria’s Telecom Sector Records Zero Foreign Direct Investment

Published

on

Kindly share this post

Nigeria recorded zero capital importation or Foreign Direct Investment (FDI) in the telecoms sector, last year, which was 2021, according to the Nigerian Communications Commission (NCC).

Nigeria’s Telecom Sector Records Zero Foreign Direct Investment

In a report in The Nation, according to NCC, in 2020  FDI was $417,481,615.30 against $942, 863,833.96 recorded in the previous year.

This translates to a decline of 55.7 per cent in capital importation yearly.

The decline was largely attributed by the operators to the outbreak of the COVID-19 pandemic that distorted global businesses and impacted businesses negatively.

This showed that the industry recorded zero FDI during the whole of last year. While the telecom operators blamed the decline in 2019 on the outbreak of COVID-19 pandemic, no reason was given for the zero record of FDI for the whole of last year.

Similarly, capital expenditure (CAPEX) or domestic investment stood at N408, 151,627,158.62 in 2020 based on submissions from responsive licensees.

The report said CAPEX investment declined by 18.62 per cent due to probable challenges of the global pandemic in 2020.

Operating cost (OPEX) reported was N1,720,547,371,856.01 as at last December while  CAPEX stood at N1, 124,116,990,000 as at the end of last year based on submissions from licencees.

 

 

 

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Telecom

Sytemap Announces 50% Discount on Verified Lands for Women, March 8–14, 2025

Published

on

Kindly share this post

Sytemap, a trusted leader in land acquisition and technology solutions, is thrilled to announce a groundbreaking initiative designed to empower women through affordable and secure land ownership.

From March 8 to March 14, 2025, women—including professionals in Africa and the diaspora—will enjoy an exclusive 50% discount on plots from verified estate developers through the Sytemap platform.

This initiative, themed “Her Land, Her Future,” underscores Sytemap’s commitment to breaking cultural and economic barriers that have historically sidelined women from property ownership. Partnering with over 30 reputable estate developers, Sytemap is creating unprecedented opportunities for women to invest in land with confidence.

For decades, women in Nigeria and across Africa have faced significant hurdles in land acquisition, including high costs, fear of fraud, and societal biases. In fact, studies show that 65% of victims of land scams in Nigeria are women.

Sytemap’s CEO, Nnamdi Uba, stated, “Women have long been marginalized in land ownership, a critical path to building wealth and security. Our mission is not only to make land ownership accessible but to eliminate the fears and uncertainties that hold women back.”

With this initiative, Sytemap leverages its reputation for transparency and cutting-edge technology to offer a simple, scam-free, and empowering process for land purchase.

The campaign is designed to resonate with young professionals, particularly women with good-paying jobs who are ready to invest in their future. For women in the diaspora, the initiative offers tailored support, including seamless international payment options and an innovative plot-monitoring app that allows buyers to manage their investments from anywhere in the world.

Key Features Include:

50% Discount: Available only during the trade fair window (March 8–14, 2025).

Verified Estates: Secure locations vetted by Sytemap and trusted developers.

Flexible Payment Plans: Options to spread payments over several months to ease financial stress.

Digital Monitoring: A dedicated app to track land purchases and allocation progress.

Guaranteed Transparency: Every outright payment comes with instant, verifiable certificate allocation, with land documents delivered within three weeks.

This initiative will launch during the “Sytemap Land Trade Fair 1.0,” an event bringing together key stakeholders, women’s organizations, and influencers to celebrate this transformative moment. Women in the diaspora are encouraged to participate and take advantage of this life-changing opportunity.

Imagine a future where women are equal stakeholders in property ownership, shaping communities and securing generational wealth. Sytemap invites women across Africa and the diaspora to claim their space and rewrite the narrative of land ownership.


Kindly share this post
Continue Reading

Telecom

Konga to Launch Africa’s First AI-Powered Hit Music & Commerce Radio Station

Published

on

Kindly share this post

Konga, a leading composite e-commerce group, is poised to transform the Nigerian media and commerce landscape with the upcoming launch of its AI-powered FM radio station in Lagos.

The groundbreaking initiative, set to debut in January 2025, will mark Africa’s first Hit Music & Commerce Station, blending Technology, Entertainment, Commerce and more to drive impactful connections across the continent and the world.

A reliable source reveals that the station – KongaFM will be a pioneering platform to empower brands, distributors, and original equipment manufacturers (OEMs) to connect with untapped markets, revolutionizing commerce in real time. While offering businesses a new avenue for product visibility and market penetration, the station promises to deliver non-stop hit music, ensuring listeners enjoy a unique mix of entertainment and commercial opportunities. It will be a completely new experience for Nigerians.

Equipped with state-of-the-art broadcasting technology and staffed by a dynamic new blend of seasoned professionals and youthful talent, the station will begin test transmissions in the second week of January 2025.

Konga’s latest media venture comes as part of its broader strategy to disrupt conventional marketing communications and amplify consumer engagement across sectors, including FMCG, electronics, and digital solutions.

The move is expected to send ripples across Nigeria’s FX market, potentially influencing the pricing and availability of key goods and commodities. This aligns with Konga’s history of innovation in the e-commerce sector.

This initiative will also complement Konga’s existing TV arm and other media services, positioning the brand as a dominant force in Marketing Communications. Together, these platforms will create synergies that set new benchmarks for how entertainment and commerce converge in Africa while streaming globally.

When asked for further details, Prince Nnamdi Ekeh, CEO of Konga Group, remained tight-lipped, stating that “full details and official announcements will be made in January 2025.”

The anticipation around this launch continues to grow as industry experts and media enthusiasts eagerly await what is already being hailed as the next major evolution in Africa’s media and commerce space.


Kindly share this post
Continue Reading

Telecom

Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin

Published

on

Kindly share this post

Galaxy Backbone (GBB), the information technology and shared services provider of the Federal Government of Nigeria, has announced the successful expansion of its state-of-the-art fibre optic network to Lagos, Ibadan, the capital of Oyo State in southwestern Nigeria, and Ilorin, capital of Kwara State in the north-central region.

Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin

What is described as a remarkable milestone is part of Phase II of the country’s National Information and Communication Technology Infrastructure Backbone (NICTIB) project.

With a robust cross-country optical fibre backbone now extending over 5,000 kilometres and across 27 state capitals, GBB says it has solidified its role as the digital backbone of Nigeria. This development seamlessly integrates the nation’s six geopolitical zones.

The newly completed Abuja-to-Lagos route, traversing key cities such as Minna, Bida, Mokwa, ilorin, Ogbomoso, Oyo, Ibadan and Lagos, is a strategic enhancement designed to strengthen network reliability. By establishing a closed network ring linking Lagos – the nation’s economic hub – to Abuja, the capital city, GBB says it ensures service redundancy and minimises potential downtime.

Professor Ibrahim A Adeyanju, managing director/CEO of Galaxy Backbone, says: “The expansion of our fibre optic network to Lagos, Ibadan and Ilorin is a significant step forward in our mission to bridge the digital divide and position Nigeria as a leader in the global digital economy. This advanced infrastructure empowers us to deliver innovative, customer-centric solutions that serve the needs of both the public and private sectors.”

He adds: “This expansion not only supports the government’s digital economy agenda but also sets the stage for meaningful collaboration with private sector organisations seeking to leverage our infrastructure.”

 


Kindly share this post
Continue Reading

Trending