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Bharti Airtel Inks Long-term Strategic Investment with QFE

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Bharti Airtel, a leading global telecommunications services provider has entered into a binding agreement with Qatar Foundation Endowment (“QFE”), under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5% in the Company, post issuance of the new shares.

As per the agreement, QFE will subscribe to 199,870,006 new shares of Bharti at a price of INR 340 per share amounting to a total consideration of USD 1.26 billion (INR 6796 crores). The investment will further strengthen the capital structure and provide further flexibility for the Company to deliver on its growth strategy.

Mr. Sunil Bharti Mittal, chairman, Bharti commented thus, “I am delighted to welcome another high quality long-term institutional investor to our shareholder base. This strategic partnership with QFE demonstrates the confidence they have in the Company and our strategy for growth. In addition, this agreement exemplifies further strengthening of the already deep economic and cultural relations between Qatar and India. We look forward to a long and fruitful partnership with QFE”.

Speaking on the agreement, Rashid Al-Naimi, acting chief executive officer, QFE, said, “We are excited to be making a significant investment in one of the leading telecommunications companies in the world. As a long-term global investor, our shareholding gives us exposure to a high growth sector in key emerging markets. QFE looks forward to supporting Bharti in realising the full potential of this world class business.”

Goldman Sachs acted as sole financial advisor to QFE on this investment.


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Aliyu Aboki Appointed to Global Submarine Cable Resilience Advisory Body

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West Africa Telecommunications Regulators Assembly (WATRA) has announced that Mr. Aliyu Aboki, its executive secretary, has been appointed as a member of the International Advisory Body for Submarine Cable Resilience.

This body, established by the International Telecommunication Union (ITU) in collaboration with the International Cable Protection Committee (ICPC), aims to bolster the resilience of submarine telecommunication cables that form the backbone of global digital connectivity.

Submarine cables, which carry the majority of the world’s Internet traffic, enable essential global services, including commerce, financial transactions, government operations, digital health, and education. Enhancing their resilience is critical for ensuring continuity in a digitally connected world.

Mr. Aliyu Aboki’s inclusion in the high-level International Advisory Body for Submarine Cable Resilience comes at a critical time when disruptions to digital connectivity in West Africa have highlighted the urgent need to safeguard vital telecommunications infrastructure.

As the Executive Secretary of WATRA, Mr. Aboki brings a wealth of experience and a distinctive regional perspective to the Advisory Body’s mission.

His appointment provides an opportunity for the region to contribute meaningfully to shaping global best practices for the deployment, maintenance, and protection of submarine cables, ensuring a stable and resilient digital ecosystem for millions across the continent.

Speaking on his appointment, Mr. Aboki stated: “The recent disruptions to telecommunications services across West Africa, caused by damage to vital submarine cables, underscore the fragility of our digital infrastructure.

“These incidents, which affected countries such as Côte d’Ivoire, Ghana, Nigeria, and Liberia, resulted in significant connectivity issues and highlighted the urgent need for enhanced resilience in our submarine cable systems.

As Executive Secretary of WATRA, I have witnessed firsthand the critical role that secure and reliable digital connectivity plays in driving economic development, supporting government operations, and enabling access to essential services across the region.

This appointment to the International Advisory Body on Submarine Cable Resilience presents an opportunity to strengthen global collaboration and bring the perspectives of West Africa to the forefront of discussions on protecting these crucial infrastructures.

It is vital that we work together with other experts and stakeholders to develop strategies that ensure submarine cables are more resilient to disruptions, safeguarding the continuity of services that are fundamental to the global digital economy.”

The Advisory Body brings together 40 global leaders, including Ministers, Heads of Regulatory Authorities, industry executives, and experts.

Co-chaired by Dr. Bosun Tijani, Nigeria’s Minister of Communications, Innovation, and Digital Economy, and Prof. Sandra Maximiano, Chair of the Board of Directors of the National Communications Authority of Portugal (ANACOM), the group will work to develop strategies that enhance the security and resilience of submarine cable infrastructure worldwide.

WATRA’s participation in this global effort reaffirms its leadership role in driving policies that prioritize digital connectivity, economic growth, and sustainable development.

By representing the region’s interests, Mr. Aboki will ensure that West Africa continues to play a vital role in shaping the future of telecommunications.


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Netflix Exits Nigerian Movie Market After Eight Years

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Netflix, the international movie streaming giant, has reportedly exited the Nigerian movie market after eight years of operation.

The development was disclosed by renowned Nigerian filmmaker Kunle Afolayan during his speech at the 2024 Zuma Film Festival.

Although Netflix has yet to release an official statement, Afolayan, who has collaborated with the platform on several projects, confirmed the withdrawal, emphasizing that it was intentionally kept away from the public.

Netflix, which launched in Nigeria in 2016, has been a significant player in the local film industry, providing financial support for producing Nigerian content. However, according to Nollywood Wire, the platform officially exited the market in November 2024.

The report states that Netflix informed its frequent collaborators about its decision to scale back on acquiring Nigerian content. The reason for this withdrawal remains unclear, as Netflix has not provided any explanation or statement regarding the move.

The platform’s departure marks a significant shift in the Nigerian film industry, which has relied heavily on streaming services like Netflix for global visibility and funding.


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Crypto Boom: Bitcoin Reaches $100,000 After Trump Announces Pro-Crypto Policies

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Bitcoin hit $100,000 for the first time on Wednesday, surging to a new record after US President-elect Donald Trump unveiled administration picks believed to usher in crypto-friendly policies when he takes office in January.

Among the picks by Trump is Paul Atkins, whom Trump intends to nominate to lead the Securities and Exchange Commission (SEC), which regulates cryptocurrency.

Atkins, a crypto advocate and former SEC commissioner, is expected to regulate cryptocurrency with a lighter touch than Gary Gensler, who leads the commission under the Biden administration. Gensler, who aggressively fought the industry’s expansion in the US, is set to resign on Inauguration Day.

Bitcoin hit $100,000 just hours after Atkins was announced as Trump’s choice for SEC chair.

The new milestone builds on the shocking crypto rise since Trump was projected to win the presidency on November 6, which fueled a $6,000 one-day spike in bitcoin that brought it to a new record above $74,000. A week later, it hit $90,000.

Bitcoin is up 130% for the year so far, with the post-election rally accounting for a significant portion of its gains. Its performance far outpaces the S&P 500, which is up 28% over the same period.

Trump, once a crypto skeptic, had called it “not money,” labeling it “highly volatile and based on thin air.”

But he took a rapid switch in the months leading up to his reelection as he sought to attract younger male voters, who tend to own more crypto compared to other demographic groups.

In July, Trump headlined the largest crypto convention in Nashville, where he vowed to create a “strategic national bitcoin stockpile” and to hold on to bitcoin the government seizes from criminals rather than auctioning it off, which is the current practice.

“If crypto is going to define the future, I want it to be mined, minted and made in the USA,” Trump said.

Then in September, Trump launched his own cryptocurrency business called World Liberty Financial.

That month, he also purchased burgers from a Manhattan bar frequented by crypto enthusiasts using bitcoin. “History in the making,” he declared.

Additionally, Trump’s media company, which owns Truth Social, is reportedly in talks to buy crypto trading forum Bakkt, according to the Financial Times.

“If you like bitcoin at $100,000, you’re going to love it at $1 million,” Anthony Pompliano, a well-known crypto supporter and founder and CEO of Professional Capital Management, an investment firm, said in a post on X Wednesday night.

The cryptocurrency industry threw its weight behind Trump and the Republican Party during this election cycle, with leading super PACs donating around $131 million to elect pro-crypto candidates in congressional races.

The Trump campaign, which began accepting crypto donations in May, raised millions from the move.

In addition to Atkins, Trump nominated Cantor Fitzgerald CEO Howard Lutnick, a prominent cheerleader for Tether, the company behind one of the world’s biggest crypto assets.

Additionally, Trump is considering creating the first-ever White House role solely dedicated to crypto policy, Bloomberg reported


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