Airtel Africa Plc has announced the commencement of the second tranche of its $100 million share buy-back programme. This latest tranche, valued at up to $50 million, follows the completion of the first tranche and is expected to conclude on or before 19 December 2024.

The Group Company Secretary, Simon O’Hara in a notice filed on the Nigerian Exchange Limited (NGX) on Monday, explained that it had partnered with Citigroup Global Markets Limited (“Citi”) to execute the buy-back, with Citi acting as a riskless principal and making independent decisions regarding the purchase of shares.

He explained that the sole purpose of the buy-back programme was to reduce the capital of the Company. “As such, all shares purchased under the buy-back programme will be cancelled.”

The statement further read, “Any purchases of ordinary shares under the buy-back programme by Citi will be carried out in accordance with certain pre-set parameters set out in the agreement with Citi and Company purchases will be in accordance with (and subject to the limits prescribed by) the Company’s general authority to repurchase ordinary shares on the London Stock Exchange granted by its shareholders from time to time (at the annual general meeting on 3 July 2024, shareholders gave the Company authority to purchase a maximum of 374,141,187 ordinary shares).

“Chapter 9.6 of the Financial Conduct Authority’s UK Listing Rules and the provisions of the Market Abuse Regulation (EU) No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended).

“Purchases may continue during any closed periods of the Company during the engagement period.”

Telecom subscribers, under the aegis of Association of Telephones, Cable TV and Internet Subscribers of Nigeria (ATCIS), recently kicked against the push by Nigeria mobile network operators (MNOs)  to increase end user tariff on calls, data and others.

They say it is akin to putting the cart before the horse, insisting that customer experience on the network should precede any tariff hike.

The MNOs had, through the Association of Licensed Companies of Nigeria (ALTON), warned about likely service disruptions in the country should they be restricted to charging a tariff that does not cover their cost of operation, citing micro and macro economic headwinds in the country.

But ATCIS at a press conference in Lagos at the weekend, vehemently opposed the proposed tariff hike arguing that acceding to such a demand by the Nigerian Communications Commission (NCC) will inevitably increase the burden of economic reform in the country.

Sina Bilesanmi, president, ATCIS, described the timing of the proposed tariff increase as “most insensitive” given the prevailing economic challenges faced by Nigerians.

“We are concerned that this strident call for a tariff hike is most unwelcome. It will impoverish telecom subscribers further, considering the realities on ground.

“We see it as most insensitive as it will impoverish our members the more in view of the realities on ground.

“The telcos have blamed the rising cost of diesel for powering their base transceiver stations (BTS) as one of the major reasons for the current clamour for tariff hike. We say no to any hike at this time with declining service quality.

“We say no to any hike without the consultation of consumer advocacy bodies such as ours. We reject any tariff hike without improved service quality. We align with the position of the NCC on this. The telcos shouldn’t resort to subtle threats and blackmail to get the approval of the NCC to hike tariffs,” he said.

He highlighted the significant contribution of the telecom sector to the nation’s gross domestic product (GDP) but emphasized that this does not justify burdening consumers with increased costs.

“While we understand the industry faces challenges, we believe any tariff increase will place an undue burden on consumers, many of whom are already struggling with the current economic situation,” ATCIS president added.

ATCIS urged the NCC to intervene, saying: “We urge the telecom companies to show restraint in implementing these increases and to explore ways to minimize the impact on vulnerable consumers, most of whom are our members, the many voiceless Nigerians.”

ATCIS also demanded transparency from telecom companies, stating: “We call for full transparency on the justification for this increase and the expected benefits to consumers.

“We demand that telecom companies improve service quality in line with the increased tariffs which the experiences of our members on the network have shown.”

Also speaking at the event, Mr. Sam Oladipupo, welfare manager at ATCIS, underscored the need for fair billing practices and open stakeholder consultations before any tariff hike.

“Subscribers are tired of arbitrary charges and unexplained deductions. There should be transparency in billing and customers should be fully informed about any changes to their plans. The N4 we pay for SMS should not even be in the first place,” he said.

Oladipupo also called on telecom operators to reward loyal customers and show empathy to subscribers facing economic hardship. “It is important for telecom companies to recognize the value of their long-standing customers and support those struggling financially, especially at this time that most homes are struggling to make ends meet,” he added.

ATCIS vowed to continue advocating for fair pricing, quality service, and the protection of consumer interests in Nigeria’s telecom sector just as it also emphasized its commitment to working with the telecom industry and the regulator to find solutions that protect consumers while ensuring the sustainability of the sector.

Sophos, a global leader of innovative security solutions for defeating cyberattacks, is expanding its commitment to customers and channel partners with the launch of Sophos Customer Success. The new program features a team of experts who support customers throughout their post-sales experience with ongoing security resources and alerts, webinars and other educational information about cyberattacks, such as ransomware and data breaches.

Sophos Customer Success also provides guidance on how organizations can maximize their current investment and expand their strategic defenses with other layers of Sophos’ portfolio solutions, including Managed Detection and Response (MDR) services, and endpoint, network, email, and cloud security.

Sophos Customer Success experts work hand-in-hand with Sophos’ channel partners and Managed Service Providers (MSPs), augmenting support services already available to customers.

Specifically, Sophos Customer Success provides a Sophos trusted advisor to help customers with everything from onboarding to scaling investments for each organization’s unique and growing ecosystem to best defend against ever-changing cyberattacks.

This dedicated support ensures customers have a unified point of contact who can quickly address questions and share relevant and contextual threat intelligence for a cohesive and consistent experience that fosters best cybersecurity practices.

“Following the successful launch of Sophos’ Partner Care earlier this year, we saw an industry-leading opportunity to deliver a similar level of ‘white glove’ service directly to our customers,” said Angela Bucher, vice president of Customer Success, Sophos.

“By creating a single point of contact for customers, we’re able to work more seamlessly to improve customer satisfaction on many levels. This ‘close touch’ availability also helps partners and MSPs better protect and service their customers.

“We will work closely together to help customers tap into the full breadth of security capabilities in their existing investment, as well as add-on and integrate other solutions in Sophos’ portfolio.”

The Sophos Customer Success team features two levels of service – a high-touch approach and a tech-touch approach. The high-touch approach involves personalized, hands-on engagement with customers, typically suited for organizations with complex requirements. The tech-touch engagement is more automated and scalable to support partners and MSPs with a larger volume of customers with standardized processes.

“This team empowers partners to better understand customers’ knowledge about their products and services in deployment and delivers the insights partners need to pinpoint opportunities for scaling with customers,” said Sam Heard, president at Data Integrity Services, a Sophos channel partner.

“Sophos Customer Success has been an excellent extension of our partnership with the company – strengthening our customers’ security postures and elevating client satisfaction to new heights.”

More information about Sophos Customer Success is available at Sophos.com.