Telecom
MTN’s Profit up 47 Per Cent
MTN reported a 47 per cent increase in profit for the six months to end of June, with subscribers increasing by almost 6% from a year ago to almost 282 million.
It warned of moderate price increases in some markets, subject to regulatory approvals.
This was despite a clampdown in Nigeria on unverified mobile users, which disconnected millions of users.
The company’s service revenue grew 13%, while data revenue rose 33% despite MTN lowering the blended cost of data across its markets by 22,5% from a year before.
However, it warned of moderate price increases in some markets, subject to regulatory approvals.
“Some level of price increment will be needed to ensure the long-term sustainability of the business, including to support the level of capital investment required to maintain the capacity and quality of our networks,” the company said in its results announcement. Over the past year, its capital investment increased by almost 48% to more than R17 billion.
“The company accelerated” capital expenditure in Ghana and Nigeria.
In April, MTN Nigeria was forced to restrict the outgoing calls of some 19 million subscribers because their SIM cards were not linked to ID numbers.
By end of June, 10,2 million had submitted their details, and 2,6 million subscribers had been reactivated. This, along with increased usage from its existing users, supported an “acceleration” in the recovery of its service revenue growth from April to June.
MTN’s fintech revenue grew by almost 10%, with its active Mobile Money customers increasing by 24% to 60,7 million.
The value of these transactions was up 1% (in US dollar), but 12% higher in constant currencies, reaching almost R2 trillion.
Despite rising capital investment and increased costs due to load shedding in South Africa and supply chain disruptions due to the invasion of Ukraine and China’s continuing COVID-19 lockdowns, MTN increased its profit margin by 0,5% points to 45,3%.
Reported headline earnings per share were up 47% at 567c per share, but no half-year dividend was declared the same as in 2021.
The board expects to pay a minimum final dividend for the year of 330c per share.
Telecom
Google, Meta Criticize Australia’s Rush to Pass Social Media Ban for Under-16s
Tech giants Google and Meta have called on the Australian government to delay a proposed bill that would ban children under 16 from accessing most social media platforms.
The companies argue that more time is needed to assess the bill’s impact and await results from an age-verification trial.
Prime Minister Anthony Albanese’s government aims to pass the legislation—one of the strictest globally on children’s social media use—by Thursday, the final day of the parliamentary year. Introduced last week, the bill was open for public submissions for just one day, drawing criticism for its expedited timeline.
The proposed law would require social media companies, rather than parents or children, to enforce age-verification measures, potentially using biometrics or government-issued identification. Companies found in breach could face fines of up to A$49.5 million ($32 million).
Meta criticised the bill as “inconsistent and ineffective” without clear results from the age-verification trial. Google echoed the sentiment, urging for a measured approach to ensure Australians understand the implications of the legislation.
TikTok raised “significant concerns” over the lack of consultation with experts, social media platforms, mental health organisations, and young people. “Novel policies must be drafted thoroughly to ensure their success,” the company stated.
Elon Musk’s X also opposed the bill, arguing it could infringe on children’s human rights, including their freedom of expression and access to information. Musk, a vocal advocate for free speech, accused the government of using the bill as a backdoor to control internet access.
The opposition Liberal Party has signalled support for the bill, while some independent lawmakers have criticised the government for rushing its passage. A Senate committee report on the bill is expected on Tuesday.
If passed, the bill will place Australia at the forefront of regulating children’s online activity, but its swift progression and potential implications have sparked a heated debate over privacy, freedom, and the role of government in digital spaces.
Telecom
Unforgettable Moments and Big Wins at the TECNO SPARK 30 City Tour
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
Telecom
Sophos Report Highlights Cyber Risks During Holiday Shopping Season
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
- E-Business2 days ago
NITDA Alerts Nigerians on Cybersecurity Risks Linked to Spotify
- News3 days ago
Court Orders Arrest of Echefu, Businessman over Alleged $651,280 Fraud
- Uncategorized3 days ago
Nigerians to Use NIN Cards for Payments, Cash Withdrawals — NIMC
- Telecom3 days ago
GSMA Report Reveals How Cybersecurity and Revenue Growth are Driving Enterprise Digital Transformation
- Telecom2 days ago
FG Plans Four New Satellites as Part of Tinubu’s Renewed Hope Agenda
- Telecom2 days ago
MTN Nigeria Shops for N50Bn Commercial Paper to Boost Working Capital
- News3 days ago
NACCIMA Warns Against Arbitrary Taxation on Businesses
- News2 days ago
Asein, DG NCC Seeks IP Policy for Every University