Telecom
Moove Partners Lori Systems to Deliver Affordable Vehicle Financing Across Africa
Moove, an African mobility fintech, has signed an exclusive partnership with Lori Systems, the e-logistics company in Africa.
The partnership marks Moove’s first foray into the logistics industry, building on rapid growth over the last 15 months in car financing, as it leverages its revenue-based financing model to bridge the financing gap across one of the continent’s most highly fragmented sectors.
Moove and Lori Systems’ partnership will focus on delivering access to affordable vehicle financing within Africa’s trucking and logistics industry where penetration for truck financing is lower than one percent. By combining Moove’s unique revenue-based financing model and credit-scoring technology with Lori Systems’ data-driven logistics marketplace, both companies aim to increase the capacity of transporters to match demand across East and West Africa.
The launch in Kenya will be followed by a rollout in Nigeria using the same revenue-based financing and credit decision model that Moove has developed as Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa.
Loans will be allocated to a pool of highly rated and vetted transporters on Lori Systems’ platform, allowing them to expand their fleet, as well as through a drive-to-own program for all truck drivers. With up to 100% of the purchase price underwritten by Moove, customers will be able to pay back the loans over 48 or 60 months using a percentage of their weekly revenue.
Commenting on the exclusive partnership Ladi Delano, co-Founder and CEO of Moove said: “We knew from the get-go that our mission to democratise vehicle ownership would take us beyond cars.
“We’re thrilled to be partnering with Lori Systems to empower truck drivers in Africa, and are excited about the positive impact our revenue-based financing solutions will have on their lives.
“Lori’s efforts to leverage data-driven and tech-enabled solutions have recorded significant progress in driving further efficiency in the African logistics industry; this has been impressive and very much aligns with our mission.”
Launched in 2017, Lori Systems has been at the forefront of digitizing logistics on the continent and has successfully driven efficiency across the fragmented East and West African markets by digitizing discovery and providing end-to-end visibility for customers and transporters, achieving savings of up to 20%. Lori Systems has built a network of thousands of vetted transporters to move cargo in over 12 countries.
“Lori’s mission is to drive down the cost of goods in frontier markets. We’ve grown a marketplace that brings transparency and data to the forefront of the continent’s critical haulage industry.
“The partnership with Moove enables us to design innovative and flexible financing options, using data we have captured over the years, to allow transporters fund new trucks and increasingly grow their fleet and businesses,” said Uche Ogboi, CEO of Lori Systems.
“The logistics industry in Africa has for so long been underserved by financial providers. By partnering with Moove to unlock access to financing, we can provide an even more efficient service, match the growing customer demand in the market, whilst lowering the costs for goods. It’s as simple as that.”
Co-founded in 2019 by serial entrepreneurs, Ladi Delano and Jide Odunsi, Moove recently reached the milestone of 1 million Uber trips in Moove-financed vehicles with over 16 million kilometres travelled in Lagos, Accra, Johannesburg and Cape Town.
Backed by leading VCs including Speedinvest and Left Lane Capital as well as global institutions such as the International Finance Corporation, Moove has raised a total of $68.2 million in funding to date. Through this partnership with Lori, Moove is focused on driving efficiency within the industry and empowering truck drivers across the continent through customer-centric products designed to transform African transportation and logistics.
Moove is an African mobility fintech that is democratizing vehicle ownership by providing revenue-based vehicle financing to mobility entrepreneurs across Africa, where limited access to vehicle financing has resulted in the lowest per capita car ownership in the world. The company is Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa.
Lori is a tech-driven logistics company that seamlessly coordinates haulage across frontier markets with a mission to drive down the costs of goods. Lori’s marketplace efficiently connects transporters to shippers and has moved billions of dollars worth of cargo on the platform to date.
The platform has significantly improved logistics transparency, flexibility, reliability and costs. Lori operates in over 12 countries across East and West Africa and will expand across Southern Africa through a landmark partnership, growing its presence to nearly 20 countries.
Telecom
Gwandu Urges African Countries to Unite for 600MHz Spectrum Allocations
Dr. Bashir Gwandu, former Acting Executive Vice Chairman and CEO, Nigerian Communications Commission (NCC) and former EVC/CEO, National Agency for Science and Engineering Infrastructure (NASENI), has urged African countries to unite and work together to secure 600megahertz (MHz) band spectrum allocations.
The independent telecom expert stated this at the just concluded 9th Sub-Sahara Spectrum Management Conference 2024, held in Nairobi, Kenya on 6-7 November, organised by Forum Global on the third theme: “From WRC-23 to WRC-27- Emerging Landscapes & Technologies and the Path Ahead.”
Dr. Gwandu who held various chairmanship positions at the both the ITU and Commonwealth including the ITU Radiocommunications Advisory Group (the RAG), The Joint Task Group, and Commonwealth ITU Group (CIG), made the call during his opening remarks on the 600MHz spectrum discussions.
While making a presentation on the session: “The shape of Post-WRC spectrum ecosystems”, he called for cooperation among African countries at the forthcoming World Radiocommunications Conference 2027 (WRC-27) to enter Footnote 5.307A, which are radio regulations used to make spectrum allocation for a country or some countries.
Dr. Gwandu who played a key role in founding the ATU (African Telecommunications Union) WRC coordination meetings had expressed disappointment that the continent’s focus on collaborative efforts was waning.
At the core of the discussions was the 600MHz (3GGP n71) band, a key frequency range that many countries worldwide are increasingly allocating for IMT to support 4G and 5G networks. While several nations in Regions 2 and 3, as well as some in ITU Region 1, have designated this band for mobile, some African countries are not yet ready to make the switch to co-primary allocation.
Eleven African countries had sought request at the WRC-23 for primary mobile allocation of spectrum and IMT identification in the 614-694MHz band, but only Egypt was granted while countries like Rwanda, Guinea, Benin Republic, and Cameroon, blocked requests from 10 other African nations with similar aspirations.
The 10 countries that were blocked include Nigeria, Senegal, Mauritania, Libya, Chad, Gambia, Sudan, Namibia, Somalia, and Tanzania. Dr Gwandu posited that fighting for status quo to remain or ‘No Change’ in this case is akin to refusing an available front seat and fighting for a back seat.
“Therefore, colleagues, something clearly went wrong at WRC23, and we as Africans need to address it. We must work together, have positive dialogue on challenges, and optimize the use of opportunities.
“Reasonable countries have always found solutions to accommodate needs of their neighbours instead of blocking them,” he said, urging African Telecommunication Union (ATU) to remain effective by following its rules.
He said the 600MHz band issue is clear: the world is moving towards IMT in this band, with some countries ready now and others later. “Eventually, most of us will adopt it. Many region 2 and Region 3 countries have taken primary allocation to mobile in the band, and even in region 1, a number of countries have already changed the use status of this band to include either primary or secondary mobile,” he said.
Dr. Gwandu urged that those not ready not to obstruct others that are prepared to move forward. Countries develop at different rates, and the ITU Resolution 26 that requires consent before amending footnotes is intended to promote harmonization, not to delay a clear direction, or block progress, he said, adding that there is need to provide regulatory certainty to different industries.
According to him, if many countries in other regions and Africa have not taken the steps to upgrade the mobile service in the band, “then yes, we can try to convince colleagues in Africa to hold, but, this is not the case. The direction is now clear – 600MHz band will be allocated on primary basis to mobile. It is almost black and white,” he added.
“When we meet as a family, we must be honest with ourselves. Some of us who helped to initiate the ATU WRC coordination meetings are disheartened by how we, as Africans, continue to fight each other in order to win the occupancy of the back seat, whilst neglecting each other’s interests.
“When making decisions, we must consider the unique circumstances of each country, such as geographical size, population and data demand, the capital expenditure required for coverage, the dispersed nature of our rural settlements, the 50 per cent urban to rural connectivity-divide in Africa and the energy costs to power the high throughput systems in rural areas,” he added.
The telecom guru said these factors differ for each country, and thus the frequency allocation solution for a smaller country like Rwanda or Benin cannot be the same for larger nations like Nigeria or Namibia.
Telecom
MTN Foundation Shines Bright at 8th Tech Innovation Awards with Multiple Wins
MTN Foundation has affirmed its leadership in innovation through CSR initiatives, receiving the “Transformational Solutions in Education & Skills Acquisition Award” at the eighth edition of the Tech Innovation Awards, which held on November 2, 2024 at Oriental Hotel, Lagos.
Executive Director of the MTN Foundation, Odunayo Sanya was recognized as the “Corporate Social Investment Personality of the Year”, while the MTN Foundation team was named “Foundation Team of the Year”.
The Tech Innovation Awards saw the coming together of executives, leaders and employees of various organizations in the ICT sector to celebrate businesses and personalities who have contributed to the transformation of Nigeria’s digital ecosystem.
In his opening remarks, convener and Chief Executive Officer of Instinct Wave, Akin Naphtal regarded the event as an avenue to celebrate achievements within Nigeria’s ICT industry and recognize the excellence and grit of people and institutions driving digital transformation.
“We’re not just here to celebrate the innovations and growth in our ICT sector, but also to acknowledge the tremendous resilience that keeps this industry at the forefront of transformation.
“We celebrate excellence, tenacity and audacious dreamers shaping our digital space and pushing the boundaries of what we never thought was possible”.
Commenting on the awards, Executive Director, MTN Foundation, Odunayo Sanya appreciated the organizers of the Tech Innovation Awards, while also affirming the foundation’s commitment to impactful causes.
“I’d like to appreciate Instinct Wave for these awards and for choosing to constantly recognize those who are notably driving innovation in the country.
“Interestingly, this is coming right ahead of MTN Foundation’s 20th anniversary. We strongly believe that everyone deserves to have a great quality of life and access to transformative opportunities.
“This belief has driven us for the past 20 years and will continue to drive our vision of transforming lives and inspiring impact where it matters”.
For two decades, MTN Foundation has brightened lives and improved communities through its diverse CSR initiatives covering areas such as education, arts and culture, music and entrepreneurship.
Through its scholarship awards for undergraduates pursuing science and ICT related courses, the foundation has equipped recipients with relevant skills to aid their success in today’s digital world.
The awards received by the MTN Foundation are a testament to its reach and impact of its CSR initiatives over the past 20 years.
Other notable recognitions at the Tech Innovation Awards were “Telecom Infrastructure Provider of the Year” and “Telecom Infrastructure Team of the Year” received by IHS Towers, as well as the award for “Technology Person of the Year” presented to Chief Executive Officer of Open Access Data Centres, Ayotunde Coker.
Telecom
Dr. Aminu Maida Advocates for Smarter Data Usage at Telecoms Consumer Parliament
Dr. Aminu Maida, the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), has addressed consumer concerns on data depletion, emphasizing that the commission’s findings revealed most depletions are due to advancements in technology.
Dr. Maida delivered this message during a keynote speech at the 93rd Telecoms Consumer Parliament (TCP) held at the Communications and Digital Economy Complex Auditorium. The event, themed “Optimizing Data Experience: Empowering Consumers through Awareness and Transparency in a Consumer-Centric Telecom Industry,” underscored the critical need for data transparency and consumer empowerment in Nigeria’s telecommunications sector.
He highlighted the remarkable transformation of Nigeria’s telecommunications landscape over the past two decades, evolving from basic voice services to high-speed data connectivity.
He emphasized the significant impact of 3G, 4G, and now 5G networks on the adoption of digital services such as social media, e-commerce, and online banking. With the increasing demand for data, Dr. Maida addressed pressing consumer concerns over data depletion and billing transparency.
“Despite the advancements in technology, many consumers feel their data depletes faster than expected,” Dr. Maida stated. “Our analysis revealed that data depletion and billing issues are top concerns for consumers.
“In response, we directed Mobile Network Operators and ISPs to conduct audits of their billing systems, which reported no major issues.
“However, perceptions persist due to the impact of high-resolution devices and the complexity of operator tariffs.”
Dr. Maida explained that with the advent of 4G and 5G networks, as well as devices with ultra-high-definition screens, data consumption has naturally increased. For instance, viewing a photo on Instagram that might have required only 100 kilobytes of data five years ago can now consume between two to four megabytes due to advanced camera resolutions. Streaming platforms like YouTube can consume about 3.5 to 5.4 gigabytes per hour, further contributing to data depletion concerns.
To tackle these challenges, the NCC launched a Joint Industry Campaign on Consumer Awareness on Smarter Data Usage, aimed at educating consumers on effective data management.
The campaign spans various media platforms, including radio, television, newspapers, and SMS, offering practical tips for managing data usage.
Dr. Maida also highlighted the NCC’s efforts to simplify tariffs and provide clear, accessible information on data plans and pricing. “Transparency will empower consumers to make better-informed decisions about their data usage and billing,” he asserted.
In addition to these initiatives, the NCC is finalizing Major Incident Reporting Guidelines, which will require operators to inform consumers of major incidents impacting their networks.
The Commission is also working on coverage maps detailing operators’ network strength across the country, allowing consumers to make more informed choices when selecting an operator.
Dr. Maida concluded his speech by reaffirming the NCC’s commitment to transparency and accountability within the sector. “Our goal is to create a truly consumer-centric telecom industry, where consumers feel valued, informed, empowered, and satisfied with the services they receive,” he said.
The 93rd Telecoms Consumer Parliament provided a platform for open and honest dialogue, with stakeholders discussing ways to optimize the data experience for telecom consumers in Nigeria.
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