Telecom
Konga to Launch Africa’s First AI-Powered Hit Music & Commerce Radio Station
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.
Telecom
FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
Telecom
NCC Launches Initiative to Combat Fraud, Spam Messaging
Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.
The telecom regulator made this announcement in a statement.
The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.
The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.
The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.
However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.
“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.
The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.
“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”
The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.
Telecom
Airtel Africa to Return $100m to Shareholders via Share Buyback
Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.
The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.
Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.
According to the company, the programme will be executed in accordance with applicable securities laws and regulations.
The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.
The first tranche will amount to a maximum of $50m.
The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.
Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.
The sole purpose of the buy-back programme is to reduce the capital of the Company.
It noted that as such, all shares purchased under the buy-back programme will be cancelled.
In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.
This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.
The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.
Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.
Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.
The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.
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