Telecom
Here Are the Economic and Social Impact of Bayobab’s Sub-sea Cable Landing
In the ever-evolving landscape of global connectivity, the unveiling of the 2Africa subsea cable stands as a testament to the power of collaboration and innovation. Spearheaded by the joint efforts of MTN Nigeria and Bayobab, this project transcends geographical boundaries to create a network of connectivity spanning 33 countries across three continents. With a total length of 45,000 kilometers, the 2Africa cable emerges as the longest underwater cable in the world, promising to revolutionize communication and reshape the digital landscape for millions.
At the heart of the 2Africa project lies a commitment to fostering economic growth and societal development across the African continent. Josephine Sarouk, Managing Director, Bayobab Nigeria, underscores the pivotal role of the cable in driving economic progress. By directly supporting Africa’s burgeoning digital economy, the cable facilitates the expansion of 4G, 5G, and broadband penetration, thereby unlocking new avenues for innovation, entrepreneurship, and job creation.
This infusion of connectivity not only accelerates economic growth but also fosters social inclusion by bridging the digital divide and providing access to essential services and opportunities for millions of individuals and businesses. “Bayobab has invested in a myriad of submarine cables to boost much-needed broadband capacity to the continent; and bolster efforts to leverage technology to connect the unconnected in Africa and beyond” and “The landing of 2Africa in Nigeria will supercharge Nigeria’s digital economy, creating space for a vibrant ecosystem bringing digital services to millions of Nigerians in line with the government’s vision for a thriving digital economy”, she said.
The significance of enhanced connectivity extends beyond economic prosperity. It has the power to transform societies, empower individuals, and bridge the gap between urban centers and rural communities. Through the provision of reliable and high-speed internet services, the 2Africa cable champions the cause of inclusive connectivity, ensuring that no one is left behind in the digital age.
By establishing open-access cable landing stations, Nigerian service providers gain equitable access to capacity, thereby fostering a vibrant ecosystem of digital innovation and entrepreneurship. This democratization of connectivity serves as a catalyst for social change, empowering individuals, and communities to participate fully in the digital economy and access vital services such as healthcare, education, and financial services.
However, the success of the 2Africa project is not solely attributable to technological advancements; it is also a result of strategic collaboration and partnership. With a consortium comprising industry leaders such as Bayobab, MTN Nigeria, Center3, China Mobile International, Meta, Orange, Telecom Egypt, Vodafone Group, and WIOCC, the project embodies the collective resolve to overcome challenges and drive progress on a global scale. By pooling resources, expertise, and knowledge, the consortium members have been able to navigate complex regulatory environments, secure funding, and overcome logistical hurdles to ensure the successful implementation of the project.
The 2Africa cable is more than just a physical infrastructure; it is a symbol of progress, opportunity, and resilience. As it traverses continents and connects communities, it serves as a testament to human ingenuity and the transformative power of technology. In a world where borders are becoming increasingly fluid, the 2Africa cable stands as a beacon of hope and possibility, offering a glimpse into a future where connectivity knows no bounds. As nations and communities embark on this journey towards a more connected future, the 2Africa cable serves as a reminder of the potential of collective action and collaboration in shaping a better world for all.
In a strategic move to deepen its presence in emerging economies, global cryptocurrency exchange MEXC has launched peer-to-peer (P2P) trading support for three new fiat currencies — the Nigerian Naira (NGN), Ethiopian Birr (ETB), and Pakistani Rupee (PKR). This expansion reflects the company’s increasing focus on localising crypto access in high-growth, underbanked regions.
The addition of NGN, ETB, and PKR to MEXC’s P2P platform enables users in Nigeria, Ethiopia, and Pakistan to trade major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) directly with their local currencies.
The trades come with zero transaction fees, in line with MEXC’s strategy to lower entry barriers for users and encourage grassroots participation in the digital asset economy.
The update is more than a technical expansion — it underscores MEXC’s recognition of Africa and South Asia as rising crypto frontiers. Nigeria, often cited as one of the world’s fastest-growing crypto markets, and Ethiopia, where digital finance is beginning to surge amid reforms, represent key territories for crypto adoption. Similarly, Pakistan’s growing youth population and fintech appetite offer strong potential for crypto-enabled financial inclusion.
To support the rollout, MEXC is actively onboarding new merchants to its P2P platform. Merchants benefit from zero transaction fees, dedicated customer support, a special verification badge, and invitations to exclusive community events. The goal is to nurture a local network of verified sellers and buyers who can facilitate seamless and trusted crypto trades.
P2P trading — which allows users to transact directly without third-party intermediaries — is especially relevant in markets where banking infrastructure is either insufficient or heavily regulated. By bypassing traditional systems, P2P provides a lifeline for users seeking stablecoins, alternative stores of value, or more flexible remittance solutions.
This latest expansion signals MEXC’s intent to compete aggressively for market share in underserved territories while enabling more users to access and benefit from Web3 technologies. As global exchanges race to localise their services, MEXC’s early moves into fiat integration may prove pivotal in shaping the next wave of crypto adoption across the Global South.
At the recently concluded NextNow Business Forum in Victoria Island, MTN Nigeria electrified the business community with a live demonstration of its forthcoming Communication Platform as a Service (CPaaS), a solution engineered to redefine how Nigerian enterprises connect with their customers.
Unlike traditional communication systems, MTN’s CPaaS is built for the realities of a mobile-first market. The platform unifies SMS, voice, WhatsApp, email, and more into a single, intuitive interface. This approach is especially significant in Nigeria, with over 107 million internet users, 45.4% of the total population, according to Data Report. This figure underscores the necessity for businesses to meet customers where they are.
During the demo, attendees witnessed how CPaaS enables two-way, real-time conversations between brands and customers. The platform’s support for rich media, instant analytics, and seamless integration with business workflows drew particular attention. These features are designed to empower businesses with data-driven insights and the agility to personalise every interaction, whether it’s a service notification, marketing campaign, or customer support exchange.
Akinbulejo Onabolu, Head of Enterprise Segment at MTN Nigeria, articulated the vision: “CPaaS gives enterprises the flexibility to interact with their customers on their preferred platforms; whether it’s chat, voice, or messaging, in a way that feels personal and immediate. We’re looking forward to the value this will unlock for businesses across industries once it launches.”
The fireside chat added depth to the conversation, with Omowunmi Olatunbosun, Head of SME Segment at MTN Nigeria, and Stephen Agbi of Bayobab, highlighting how digital engagement bridges the gap between businesses and audiences.
They emphasised that today’s consumers demand immediacy, relevance, and ease, qualities that CPaaS is built to deliver.
The stakes for digital transformation in Nigeria are high. In a report by Punch, the country’s enterprise tech market is projected to reach $22 billion by 2027, reflecting a surge in demand for scalable, cloud-based solutions that drive efficiency and customer loyalty.
The CPAAS Acceleration Alliance have estimated that globally, the CPaaS market is expected to grow from $14.7 billion in 2025 to $72.4 billion by 2035, at a compound annual growth rate of 18.4%, a testament to the platform’s transformative potential.
The event’s closing keynote from META’s Korhan Yunak reinforced the strategic value of digital channels like WhatsApp, which are now indispensable for business communication and engagement at scale.
As MTN Nigeria prepares for the Q3 2025 launch, the anticipation is unmistakable. With its promise of flexibility, intelligence, and seamless integration, MTN’s CPaaS platform is set to become the backbone of next-generation business-customer engagement in Nigeria, enabling enterprises to not just communicate but to connect, adapt, and grow in a digital-first era.
MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.
According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.
If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.
Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.
The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.
Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.
MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.
“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.
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