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MTN Nigeria Reports Strong Performance after Listing

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MTN Nigeria Communications Plc on Friday released its unaudited result for the six months ended June 30 and announced an interim dividend of N2.95 per share to its shareholders.

The company’s unaudited result released by the Nigerian Stock Exchange (NSE) showed that the N2.95 interim dividend would be for eligible shareholders on Aug.16.

The dividend is payable to shareholders whose names appear on the company’s register at the close of business on Aug. 8, while the register closes from Aug. 9 to Aug.13.

The company, during the period under review, posted a revenue of N566.95 billion against N505.67 billion achieved in the comparative period of 2018, an increase of 12.12 per cent.

Its operating profit rose by 39.49 per cent to N190.40 billion in contrast to N130. 50 billion recorded in 2018.

Profit before tax stood at N149. 79 billion compared with N108.35 billion in 2018, representing a growth of 38.25 per cent.

Also, the profit after tax appreciated by 34.80 per cent to N98.93 billion against N73.39 billion recorded in the corresponding period of 2018.

MTN Nigeria Communications on May 16 achieved a milestone with the listing of 20.35 billion shares at N90 per share at the nation’s bourse.

MTN Nigeria chief executive officer, Ferdi Moolman, says: “In the first half of 2019, we sustained a solid performance, delivering double-digit growth in service revenue, underpinned by growth in voice and data revenue.

“We made significant network investments to improve network quality and expand our 4G coverage. Our recent work to revamp our data prices and accelerate our 4G network has put us in a strong competitive position to offer more value to our customers, supporting data and voice revenue growth which will ultimately strengthen our business.”

Moolman mentions the significance of the company’s listing in May on the Nigerian Stock Exchange (NSE).

Moolman added that the company had secured a super-agent licence from the Central Bank of Nigeria “which will enable us to build an agent network and accelerate the growth of our fintech business.”

Fintech revenue increased by 21.2%, according to the results.

“Our fintech business continued to gain momentum with 21.2% growth in revenue year-on-year. The super-agent licence will allow us to leverage our established distribution channels to offer a wide range of mobile financial services. We will continue to work towards obtaining a payment service banking licence that we applied for in late 2018. Digital revenue continued to be impacted by the optimisation of value-added services.

“However, our focus is to build a sustainable base of active digital users in order to boost revenue growth. Our enterprise business also delivered satisfactory results, with revenue increasing by 31.3%, to contribute 11.9% to service revenue,” the company says


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9Mobile Blames Network Outage on Data Center Fire in Lagos

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9Mobile, mobile network operator, has blamed a network outage this week on a fire incident at its main data center in Lagos.

9Mobile Blames Network Outage on Data Center Fire in Lagos

The fire is said to have happened on Tuesday night (December 17), leading to network issues for 9Mobile’s customers until Thursday.

9Mobile said it had experienced multiple fiber cuts which had led to some of the disruption.

Its customers have taken to social media to complain about a lack of voice and data services.

9Mobile is estimated to have more than 11 million mobile subscribers.

The latest outage follows a six-day outage that impacted the carrier in July.

“9Mobile sincerely apologizes for the recent service outages experienced by our valued customers which have affected our ability to provide voice, data, and internet services. We understand the frustration these disruptions have caused and deeply regret the inconvenience,” said 9Mobile in a statement.

“Our technical team has identified the root causes of the outages including a fire incident at our main data center in Lagos last night which severely impacted services, especially in the Lagos and South-West.  We are grateful for the swift intervention of the Lagos State Fire Service, which helped prevent further damage.”

The cause of the fire was not revealed by the carrier.

Acknowledging the fiber cuts, 9Mobile explained that prior to the fire, a fiber cut on the backbone links in Lagos led to a total data outage across the country. Other vandalism incidents in Lagos and Abuja led to a total service outage in the southwest and a data service outage in the north of the country.


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Sytemap Announces 50% Discount on Verified Lands for Women, March 8–14, 2025

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Sytemap, a trusted leader in land acquisition and technology solutions, is thrilled to announce a groundbreaking initiative designed to empower women through affordable and secure land ownership.

From March 8 to March 14, 2025, women—including professionals in Africa and the diaspora—will enjoy an exclusive 50% discount on plots from verified estate developers through the Sytemap platform.

This initiative, themed “Her Land, Her Future,” underscores Sytemap’s commitment to breaking cultural and economic barriers that have historically sidelined women from property ownership. Partnering with over 30 reputable estate developers, Sytemap is creating unprecedented opportunities for women to invest in land with confidence.

For decades, women in Nigeria and across Africa have faced significant hurdles in land acquisition, including high costs, fear of fraud, and societal biases. In fact, studies show that 65% of victims of land scams in Nigeria are women.

Sytemap’s CEO, Nnamdi Uba, stated, “Women have long been marginalized in land ownership, a critical path to building wealth and security. Our mission is not only to make land ownership accessible but to eliminate the fears and uncertainties that hold women back.”

With this initiative, Sytemap leverages its reputation for transparency and cutting-edge technology to offer a simple, scam-free, and empowering process for land purchase.

The campaign is designed to resonate with young professionals, particularly women with good-paying jobs who are ready to invest in their future. For women in the diaspora, the initiative offers tailored support, including seamless international payment options and an innovative plot-monitoring app that allows buyers to manage their investments from anywhere in the world.

Key Features Include:

50% Discount: Available only during the trade fair window (March 8–14, 2025).

Verified Estates: Secure locations vetted by Sytemap and trusted developers.

Flexible Payment Plans: Options to spread payments over several months to ease financial stress.

Digital Monitoring: A dedicated app to track land purchases and allocation progress.

Guaranteed Transparency: Every outright payment comes with instant, verifiable certificate allocation, with land documents delivered within three weeks.

This initiative will launch during the “Sytemap Land Trade Fair 1.0,” an event bringing together key stakeholders, women’s organizations, and influencers to celebrate this transformative moment. Women in the diaspora are encouraged to participate and take advantage of this life-changing opportunity.

Imagine a future where women are equal stakeholders in property ownership, shaping communities and securing generational wealth.

Sytemap invites women across Africa and the diaspora to claim their space and rewrite the narrative of land ownership.

For more details and to reserve your plot, visit https://sytemap.com/women.


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Konga to Launch Africa’s First AI-Powered Hit Music & Commerce Radio Station

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Konga, a leading composite e-commerce group, is poised to transform the Nigerian media and commerce landscape with the upcoming launch of its AI-powered FM radio station in Lagos.

The groundbreaking initiative, set to debut in January 2025, will mark Africa’s first Hit Music & Commerce Station, blending Technology, Entertainment, Commerce and more to drive impactful connections across the continent and the world.

A reliable source reveals that the station – KongaFM will be a pioneering platform to empower brands, distributors, and original equipment manufacturers (OEMs) to connect with untapped markets, revolutionizing commerce in real time. While offering businesses a new avenue for product visibility and market penetration, the station promises to deliver non-stop hit music, ensuring listeners enjoy a unique mix of entertainment and commercial opportunities. It will be a completely new experience for Nigerians.

Equipped with state-of-the-art broadcasting technology and staffed by a dynamic new blend of seasoned professionals and youthful talent, the station will begin test transmissions in the second week of January 2025.

Konga’s latest media venture comes as part of its broader strategy to disrupt conventional marketing communications and amplify consumer engagement across sectors, including FMCG, electronics, and digital solutions.

The move is expected to send ripples across Nigeria’s FX market, potentially influencing the pricing and availability of key goods and commodities. This aligns with Konga’s history of innovation in the e-commerce sector.

This initiative will also complement Konga’s existing TV arm and other media services, positioning the brand as a dominant force in Marketing Communications. Together, these platforms will create synergies that set new benchmarks for how entertainment and commerce converge in Africa while streaming globally.

When asked for further details, Prince Nnamdi Ekeh, CEO of Konga Group, remained tight-lipped, stating that “full details and official announcements will be made in January 2025.”

The anticipation around this launch continues to grow as industry experts and media enthusiasts eagerly await what is already being hailed as the next major evolution in Africa’s media and commerce space.


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