Connect with us

Broadcasting

Again, Financial Times Recognises BHM as one of Africa’s Fastest Growing Companies

Published

on

Kindly share this post

In a remarkable achievement, Nigerian company BHM has earned a coveted spot in the Financial Times ranking of Africa’s fastest-growing companies for the second consecutive year.

The prestigious FT ranking, rapidly becoming one of the critical barometers of business success across the African continent, recognises BHM’s stellar performance and solidifies its position as one of the nation’s corporate frontrunners.

The list ranks independent African companies by their organic, internally stimulated compound annual growth rate (CAGR) in revenue for the period under review.

“The incredible support from our clients and partners across the world has been instrumental in our growth,” said Ayeni Adekunle, Founder and CEO of BHM.

“This recognition is further validation of our strategic vision, and our ambition to build the first truly global communications services company with African roots.”

BHM’s inclusion in the FT ranking is another milestone, as the company continues to lead the industry with its innovative approach to communications.

The company’s impressive financial performance, spearheaded by robust revenue growth and strategic market expansion, has captured the attention of industry analysts and investors alike.

Despite the economic challenges in Africa within the period Abebe Selassie, Head of the IMF’s Africa department pointed out that many businesses still managed to survive: “Much of the private sector, particularly the private sector that’s not directly reliant on government business, has shown incredible resilience.”

The ranking was created by the FT and Statista to showcase the continent’s private growth champions. “The FT-Statista ranking reveals the type of companies that, even in hard times, have managed to grow, often by disrupting markets,” the article stated.

BHM’s ability to capitalise on emerging opportunities while navigating the complexities of the African business landscape has solidified its reputation as a force to be reckoned with. With research-led innovations such as the continent’s first PR & Communications Report (APCR), and the UK’s Cost of Living Survey, among others, the company has continuously exhibited its breadth for data-led solutions. World PR Day (WPRD) which is celebrated every July 16, is also one of the company’s interventions in the global communications landscape.

Femi Falodun, Executive Director, BHM Holdings said: this is a testament to the hard work of our people and the incredible support we’ve enjoyed from partners and clients,

BHM’s story demonstrates the immense potential that exists within the country’s vibrant communications sector. The company’s ambitious plans for further expansion across Africa and beyond point towards an even brighter future.


Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

Here’s Why We’re Investing In Building Nigeria’s Future Olympians – MTN

Published

on

Kindly share this post

MTN Nigeria has reaffirmed its commitment to nurturing Nigeria’s future Olympians through the MTN Champs athletics competition, which kicked off its third season today in Benin City, Edo State.

The telecommunications giant aims to revolutionise grassroots sports development in the country, providing a platform for young athletes to showcase their talents and potentially represent Nigeria on the global stage.

Osaze Ebueku, Senior Manager, Go-to-Market at MTN Nigeria, emphasised the company’s long-term vision for the initiative. “Our message from day one has been clear. We’re building future Olympians for Nigeria,” Ebueku stated. He highlighted that MTN Champs is not just about competition, but about changing lives and providing opportunities that many young athletes wouldn’t have had otherwise.

The impact of the program is already evident, with five standout athletes from MTN Champs representing Nigeria at the Paris 2024 Olympics. This achievement, coming just two years after the program’s inception in 2023, demonstrates the initiative’s effectiveness in fast-tracking talent from grassroots to global competitions.

Season 3 of MTN Champs has attracted 2,056 registered athletes to participate in Benin City alone, according to Bambo Akani, founder and CEO of Making of Champions, MTN’s partner in executing the championship. The competition will span three cities – Benin (March 13-15), Lagos (April 9-12), and Uyo for the Grand Final (April 30-May 3) – with a total of 7,000 athletes expected to participate across all locations.

Osaze Ebueku, Senior Manager, Go To Market at MTN, likened their approach to spotting “rough diamonds” and refining them into world champions. “We are on this journey for the long haul, working with our partners to elevate the standard of athletics in the country,” Ebueku explained.

The initiative has garnered support from state governments, with Edo State Governor Senator Monday Okpebholo approving the use of the Samuel Ogbemudia Stadium and providing logistical support for the event. This collaboration underscores the growing recognition of MTN Champs’ potential to transform Nigeria’s athletic landscape.

As the competition unfolds, all eyes will be on the tracks of Benin, Lagos, and Uyo to witness the emergence of Nigeria’s next generation of athletic stars. MTN Champs continues to provide not just a competition, but a comprehensive platform for talent discovery, development, and the realisation of Olympic dreams for young Nigerian athletes.


Kindly share this post
Continue Reading

Broadcasting

MTN Board: Between sentiment and the law

Published

on

MTN
Kindly share this post

By Ray Umukoro

A pro-democracy activist and lawyer, Osa Director, has sued MTN Nigeria Plc. In suit No. FHC/L/CS/1413/24 filed at the Federal High Court, Ikoyi, Lagos, the activist vide an originating summons is asking the court to dissolve the board of MTN.

Without prejudice to the outcome of the case now before Justice Deinde Dipeolu, it is important to interrogate the context and motive of the suit, its propriety and relevance. But, first, it must be established that the plaintiff reserves the right to seek and pursue judicial intervention on a matter he deems fit.In this instance, he is accusing the telecommunications giant of industry capture, undue dominance and influence peddling with the calibre of persons it has filled its Board with. In his submission, the MTN Board is populated with men and women with regulatory agency experience and clout. “The board of MTN being occupied by individuals who have a history of regulatory oversight, taxation authority and pensions will undermine the integrity of our various institutions and create room for influence peddling and regulatory capture,” the plaintiff asserts.

For example, he argued that Dr. Ernest Ndukwe, an engineer of repute, who is the current chairman of MTN board was a former Executive Vice Chairman of the Nigerian Communications Commission, NCC, which was a licensor and chief regulator of MTN.

Also, Mrs. Ifueko Omogui Okauro, another director on the board of MTN was the pioneer Chief Executive of the Federal Inland Revenue between 2004 -2012. Another Board member spotlighted was a former minister of Communication Technology, Mrs. Omobola Johnson, an engineer. The ministry she presided is charged with performing oversight function over MTN. Also, the pioneer Director General and Chief Executive of National Pension Commission, Pencom, Alhaji Mohammad K. Ahmad is on the board of MTN. His argument is that such constituted board gives undue dominance and advantage to MTN. To him, it amounts to influence peddling and industry capture.Among the reliefs sought by the plaintiff are, a declaration that the appointments of the affected officers to the board of MTN contravenes universally acceptable corporate governance practices. He is asking the court to grant an order nullifying their appointments, and a perpetual injunction restraining the affected persons, their servants, agents and or privies from either further appointing or accepting any such appointment.

The plaintiff is also requesting the court to mandate the affected persons to refund benefits, monetary or otherwise already received by them by virtue of their appointments. A cost of N50 million is demanded to be awarded against the defendants. While it is appropriate to leave the court to determine the fate of the afore-listed prayers, it is equally imperative to state the liberties and privileges available to MTN to make appointments into its Board.

First, it must be stressed that MTN Nigeria which is duly listed on the Nigerian Exchange (NGX) has been a market leader since 2001 when the early bird mobile network operators (MNOs) rolled out services. This was many years before the appointment of the ex-regulators as claimed by the plaintiff. Therefore, their appointment cannot equate to ‘market capture’ in a market in which MTN was a clear leader ab initio.

The plaintiff portrays MTN as an unpatriotic entity with a tendency for undercutting competition. This is an unkind cut even as it is an uncharitable assertion to make on a company that showed unwavering confidence in the Nigerian market more than the competition. Nigerians are witnesses to the heavy investments made by MTN from 2001 which also gave it a head-start in the marketplace, amassing more subscribers and acquiring the status of a telco with more national spread.

Needless restating here that as part of its culture of global best practice, MTN has always recruited masterminds, unassailable professionals and technocrats with a pedigree of sterling performance. The cast of Board members listed by the plaintiff fall within the class of professional outliers with a track record of excellence. MTN has not offended any Nigerian law by appointing the best of the lot. It is in tandem with its culture of placing merit above mediocre.

Besides, these men and women have left their past duty posts as regulators and are not known to sit actively on the board of other corporates that are in competition with MTN. It is unfair to criminalise an entity that places premium on excellence.When has it become a sin to hold public office in Nigeria and to hold further offices afterwards? It’s hard to point at any law in Nigeria’s legal jurisprudence that MTN and the defendants violated. There appears here a conflict between law and sentiment. We leave that for the court to adjudicate on.

In the case of Ndukwe, the NCC guidelines for EVCs and Commissioners prescribe three years cooling off period after service before taking up another assignment. Ndukwe exited NCC in February 2010 and did not take up any employment or board appointment until 2018, a good eight years after leaving office.

The same applies to all the other directors listed in the affidavit. They were appointed into public offices after successful careers in the private sector and they returned to their respective private sector endeavors after the few years spent in government assignments. It should be stated that the four person’s stint in government represented less than 20% of their total work experience. So, where is the offence?Anybody with access to the plaintiff’s submissions in his originating summons would think that MTN is a recalcitrant corporate which does not play by the rules. Yet, this is MTN Nigeria that has paid out billions in taxes to Nigeria; the same MTN that has awarded 13, 717 scholarships to 4,949 Nigerian students within 13 years through its Foundation. The same MTN Nigeria that spent about N29 billion in 2024 to deliver primary healthcare at the grassroots across the country, partnering with the Private Sector Health Alliance of Nigeria to deliver 52 Primary Healthcare Centres (PHCs) across the country; and with a promise for additional 40 qualitative and affordable PHCs.

MTN is one of the highest tax-paying companies in Nigeria. In July 2024, MTN paid over N549 billion in taxes and levies to the Federal Government. It ranks as top VAT-payer in Nigeria contributing over N200 billion in VAT per month to the national purse.

This MTN has executed 1,023 projects across Nigeria alongside 50 unique projects, reaching over 31 million people.Since it stepped into Nigeria, MTN has been doing good. Everywhere you go, MTN’s imprints of common good for the good people of Nigeria stares you in the face. From education, healthcare, human capital development and infrastructure, MTN has become a recurring factor in Nigeria’s development. The company that is spending over N200 billion for the completion of the 110km Enugu -Onitsha dual carriageway under the Tax Credit Scheme of the Federal Government cannot suddenly be branded an outlaw. MTN Nigeria is a responsible corporate citizen and it cannot be otherwise branded.

*Umukoro, public policy analyst, writes from Lagos.


Kindly share this post
Continue Reading

Broadcasting

Spotify Earnings for Nigerian Artists Exceed ₦58 Billion in 2024

Published

on

Kindly share this post

Nigerian artists achieved a historic financial milestone in 2024, generating over ₦58 billion in royalties on Spotify alone, according to the 2024 Spotify Loud & Clear report released Thursday.

The figure, which represents more than double the earnings of 2023 and five times that of 2022, underscores the rapid commercial growth of Nigerian music on a global scale.

Jocelyne Muhutu-Remy, Spotify’s Managing Director for Sub-Saharan Africa, attributed this growth to the exceptional talent and creativity within Nigeria’s music industry.

“We remain committed to empowering Nigerian artists to earn from their art whilst maintaining transparency with artists and stakeholders,” she said.

The report also highlighted a dramatic increase in the number of Nigerian artists generating over ₦10 million in royalties, with figures more than doubling year-over-year.

Key Report Highlights

  • Nigerian artists were discovered over 1 billion times by first-time listeners in 2024.
  • Over 1,900 Nigerian artists were added to Spotify editorial playlists, a 33% increase from 2023.
  • A significant portion of the ₦58 billion in royalties originated from international audiences.

Global Impact of Nigerian Music

The report detailed the rising global influence of Nigerian music:

  • Listeners worldwide streamed Nigerian artists for an average of 1.1 million hours.
  • Users created approximately 250 million playlists featuring Nigerian artists.
  • The export growth of Nigerian artists increased by 49% over the past three years.

Local consumption of Nigerian content also surged, with a 206% year-over-year increase in 2024 and an extraordinary 782% growth since 2022.

Spotify’s report highlights the dynamic evolution of Nigeria’s music scene and reaffirms its commitment to supporting creative talent across the region.


Kindly share this post
Continue Reading

Trending