Telecom
MainOne, 4 Banks Sign $100m Facility Agreement
MainOne, one of West Africa’s leading telecommunications services companies, has signed a $100 million financing facility agreement with Standard Chartered Bank, FirstBank, Skye and FCMB Bank.
The ceremony which took place in Lagos at the Federal Palace Hotel, Victoria Island, was in furtherance of MainOne’s effort to expand its services.
Speaking on the transaction, Babatunde Dada, chief financial officer (CFO), MainOne, thanked the deal team for the laudable work done to bring the transaction to a close. He stated: “the successful signing of this facility agreement clearly shows the trust which the financial institutions have in MainOne, as well as our expansion plans in Nigeria and our other West African markets’.
According to Bisi Onasanya, First Bank’S group managing director (GMD), “this initiative signposts FirstBank’s continuous support to responsible and value-adding companies like MainOne.”
He said FirstBank confidently signed on to this facility further to the excellent performance of MainOne on the initial project financing the bank actively supported as a leading investor in 2009.
Also speaking on the transaction, Kehinde Durosimi-Etti, group managing director (GMD) of Skye Bank, posited that: “We are pleased with this arrangement and are providing further financing support given the performance of MainOne. It is our hope that through this financing, MainOne would add impetus to its drive to extend its services to customers irrespective of their location.”a
Ladi Balogun, group managing director (GMD), First City Monument Bank, said the bank was happy to arrange the loan facility. According to him, “FCMB is a bank that is synonymous with excellence and growth. Today, we have demonstrated once again our support for the growth of indigenous companies through this agreement with MainOne.”
It will be recalled that since commencing operations in 2010 as the first open access private Submarine cable in West Africa with the largest internet network platform in Sub-Sahara Africa, MainOne has led groundbreaking innovations in telecommunications services in Nigeria and across West Africa.
MainOne has developed a reputation for highly reliable services and has become the preferred provider of wholesale Internet services to major telecom operators, ISPs, government agencies, large enterprise, and educational institutions in the region.
Telecom
Google, Meta Criticize Australia’s Rush to Pass Social Media Ban for Under-16s
Tech giants Google and Meta have called on the Australian government to delay a proposed bill that would ban children under 16 from accessing most social media platforms.
The companies argue that more time is needed to assess the bill’s impact and await results from an age-verification trial.
Prime Minister Anthony Albanese’s government aims to pass the legislation—one of the strictest globally on children’s social media use—by Thursday, the final day of the parliamentary year. Introduced last week, the bill was open for public submissions for just one day, drawing criticism for its expedited timeline.
The proposed law would require social media companies, rather than parents or children, to enforce age-verification measures, potentially using biometrics or government-issued identification. Companies found in breach could face fines of up to A$49.5 million ($32 million).
Meta criticised the bill as “inconsistent and ineffective” without clear results from the age-verification trial. Google echoed the sentiment, urging for a measured approach to ensure Australians understand the implications of the legislation.
TikTok raised “significant concerns” over the lack of consultation with experts, social media platforms, mental health organisations, and young people. “Novel policies must be drafted thoroughly to ensure their success,” the company stated.
Elon Musk’s X also opposed the bill, arguing it could infringe on children’s human rights, including their freedom of expression and access to information. Musk, a vocal advocate for free speech, accused the government of using the bill as a backdoor to control internet access.
The opposition Liberal Party has signalled support for the bill, while some independent lawmakers have criticised the government for rushing its passage. A Senate committee report on the bill is expected on Tuesday.
If passed, the bill will place Australia at the forefront of regulating children’s online activity, but its swift progression and potential implications have sparked a heated debate over privacy, freedom, and the role of government in digital spaces.
Telecom
Unforgettable Moments and Big Wins at the TECNO SPARK 30 City Tour
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
Telecom
Sophos Report Highlights Cyber Risks During Holiday Shopping Season
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
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