Telecom
Reports Link Vodacom, MTN in Race to Acquire Visafone
Different reports at the weekend indicated that Vodacom Group Limited (Vodacom) and MTN Group are quietly competing in the race acquire Visafone, the only surviving Code Division Multiple Access (CDMA) operator in Nigeria.
Some people with knowledge of the matter said that talks are at an advanced stage, and a deal may be imminent but the potential purchase price and other details couldn’t be learned
Nigeria CommunicationsWeek gathered that the renewed interest by Vodacom to play in Nigeria’s telecommunications sector and Visafone is based on the exponential growth in the demand for data in the country.
Vodacom feels that CDMA technology which is suited for data service and coup with the fact that it is part owner of some undersea cable infrastructure that lands in Nigeria which includes SAT-3, WACS among others as well as its strong financial standing, it will be able to face competition especially in the data space of the telecom market.
Mr. Srinivasa Venkatappa, chief executive officer, Visafone told Nigeria CommunicationsWeek through Francis Enyogai his personal assistant that he does not know anything about such discussion and that if it happens, the company will communicate to the public through its communication channel.
Efforts made to reach Guy Clark, managing director Vodacom Business Nigeria, a subsidiary of Vodacom and other principal officers of the Company proof abortive as they travelled to South Africa for the company’s annual convention.
It would be recalled that Vodacom’s interest in Visafone is its second attempt; the first was when it bought into Econet now Airtel Nigeria and later pulled out as a result of what it described as corporate governance issues.
Visafone was born out of the strategic acquisition of 3 CDMA mobile network operators that had been in operation for up to 8 years with 30,000 subscribers and coverage in different parts of Nigeria.
The company, which was incorporated in Nigeria on June 20, 2007 following the acquisition of Cellcom received its Unified Access Service Licence as a telecom operator from the Nigerian Communications Commission (NCC) on August 1, 2007 positioned it to offer mobile, fixed and any other telecommunications service to its subscribers.
On the other hand, from its roots in South Africa, Vodacom has grown its operations to include networks in Tanzania, the Democratic Republic of Congo, Mozambique, and Lesotho and provides business services to customers in over 40 African countries such as Nigeria, Zambia, Angola, Kenya, Ghana, Cote d’Ivoire, and Cameroon.
It was owned on a 50:50 basis by the South African telecommunications group Telkom and the British mobile phone operator Vodafone.
Elsewhere, MTN Group, Africa’s largest telecoms operator was also reportedly in talks to buy Visafone Communications to solidify its grip in the South African firm’s most important market, sources familiar with the discussions said on Friday.
The report by Reuters claimed that wireless-network operator Visafone was set up eight years ago to deliver voice and broadband services through mobile and fixed telecom platforms after business tycoon Jim Ovia, who also founded Zenith Bank, acquired three operators.
“The deal is done. We’re almost putting ink to paper,” a source close to the deal said.
Another source said the talks would conclude “very soon”.
Both sources did not say how much MTN would spend on the purchase and how big a stake in Visafone it would take up.
Visafone grew its subscriber base from 30,000 after the acquisitions in 2007, to 2.2 million at the end of 2014, data from the telecom’s regulator showed.
But fixed wireless operators with CDMA technology platforms most suited for broadband and data services have faced stiff competition from more established rivals such as India’s Bharti Airtel, Dubai-based Etisalat and MTN, hitting the industry’s average revenue per user (ARPU).
ARPU, a key gauge of telecoms firms’ competitiveness as well as of consumer spending trends, has declined over the past three years to $5 from $8 as competition deepens.
MTN had nearly 60 million users in Nigeria in 2014, about 27 percent of its entire subscriber base across 22 countries.
Africa’s most populous country is also the biggest contributor to MTN’s revenue, providing more than a third of overall turnover.
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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