Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Telecom

Tizeti Secures $3 Million Series A Fund to Expand Unlimited Internet Service into Ghana

Published

on

Tizeti Co-Founders (l-r) Ifeanyi Okonkwo (COO) and Kendall Ananyi (CEO)
Kindly share this post

Nigerian ISP start-up Tizeti and its consumer facing brand, Wifi.com.ng has closed a Series A round of $3M, led by 4DX Ventures with participation from existing investors Y Combinator Continuity, Lynett Capital, Social Capital, Western Technology Investment, Friále and Golden Palm Investments.

This follows on from the company’s Seed investment of $2.1M in 2017.

Tizeti will use this investment to expand operations outside of Nigeria, and will launch a new consumer-facing brand Wifi. Africa later this year, starting with neighbouring West African country, Ghana.

The company will also make additional investments in operations, product development and overall customer experience, with a view toward growing profitability exponentially.

The company which operates widely as a “Comcast for Africa”, builds and operates solar-powered towers in Nigeria, while also providing residences, businesses, events and conferences with unlimited high speed broadband internet access, covering over 70% of Lagos.

Since graduating from Y Combinator’s Winter 2017 batch, Tizeti has installed over 7,000 public Wifi hotspots within Nigeria with 150,000 users and in November 2017, announced a partnership with Facebook to offer Express Wi-Fi in the country, to roll out hundreds of internet hotspots across Nigeria’s capital.

Kendall Ananyi, CEO and Co-Founder of Tizeti says, “Tizeti was built to tackle poor internet connectivity not only in Nigeria, but on the continent as a whole, by developing a cost-effective solution from inception to delivery, for reliable and uncapped internet access for potentially millions of Africans.

We have grown rapidly in the Nigerian market in the last 12 months and expect to continue on this trajectory, as millions more Africans come online.

This Series A investment allows us to continue providing a peerless service in Nigeria, building out our customer base there, as well as scale across Africa, starting with Ghana”.

Through it’s innovative use of solar-powered base stations, Tizeti is able to significantly reduce operating costs which allow the company to be hyper-competitive when it comes to subscription packages; a Wifi.com.ng unlimited plan in Nigeria currently costs $30/mth [NGN9, 500].

This, alongside the company’s extensive coverage reach, has given Tizeti a competitive edge in the ISP sector, establishing the young company as an ICT and tech infrastructure leader.

As part of this financing round, Walter Baddoo Co-Founder & Managing Partner of 4DX Ventures joins Tizeti’s Board of Directors.

Baddoo says “Reducing the cost of data in Africa is a critical step in accelerating the pace of internet adoption across the continent.

Tizeti, driven by a stellar company culture, has built a world-class network that delivers data to users at a fraction of the current cost. Tizeti makes it easier and cheaper to connect Africa to the global digital economy and we are excited to partner with Kendall and his team on this mission.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Telecom

Telcos Generated N5.3 Trillion Revenue in 2023 – NCC

Published

on

Kindly share this post

Telecommunications operators in Nigeria generated N5.3 trillion in revenue from their services in 2023, according to the Nigerian Communications Commission (NCC).

Telcos Generated N5.3 Trillion Revenue in 2023 - NCC

This was disclosed in the NCC’s 2023 year-end performance report titled “2023 Subscriber/Network Performance Report,” released early this week.

The report detailed revenue contributions, with GSM operators earning N4 trillion; fixed wired operators generating N273.01 million; Internet Service Providers (ISPs) earning N89.81 billion; Value Added Service Providers (VAS) contributing N14.56 billion; collocation and infrastructure sharing players bringing in N1.14 trillion; and other operators generating N41.84 billion.

The NCC highlighted a rise in active subscriptions, which grew from 222.57 million in 2022 to 224.71 million by December 2023, while data consumption exceeded 713 terabytes.

The telecom sector’s contribution to Nigeria’s GDP increased from 13.55% in 2022 to 14% in 2023.

Capital expenditure (CAPEX) in the sector reached N990.55 billion, reflecting robust domestic investments.

Meanwhile, operating costs among telecom operators amounted to N3.16 trillion.

However, the report noted a decline in foreign direct investment (FDI) into the sector, which stood at $134.75 million in 2023, compared to $399.91 million in 2022, according to data from the Central Bank of Nigeria.

Year-on-year, active voice subscriptions grew by 0.96%, with an increase of 2.14 million new subscriptions recorded in 2023.

The NCC emphasized the continued growth and financial performance across all segments of the telecommunications market during the year under review.


Kindly share this post
Continue Reading

Telecom

FG Blames Telecoms Tariff Hike on Global Inflation, Operational Cost

Published

on

Kindly share this post

Bosun Tijani, minister of Communications, Innovations, and Digital Economy has attributed the recent increase in tariffs by mobile network operators (MNOs) to the global inflation and rising cost of operation.

FG Blames Telecoms Tariff Hike on Global Inflation, Operational Cost

Bosun Tijani, minister of Communications, Innovations, and Digital Economy

Tijani said this while briefing journalists after a closed-door budget defence session with the National Assembly’s Joint Committee on Information, Communication and Technology on Tuesday in Abuja.

He noted that telcos have struggled with high operation cost for several years in addition to global inflationary pressures.

The minister stated that the government was committed to ensuring the sustainability of telecommunication sector and protection of Nigerians’ interest.

“The hike in price is based on inflation globally. This is a sector that has not increased prices for a long time, what the government has been doing is managing the situation. They have been crying out for a long time that they are struggling with the cost of diesel. This is not a problem that is unique to Nigerians.

“We will ensure that MNOs can continue to deliver the best quality services to the people,” adding that “the Nigerian Communications Commission (NCC) is doing a lot of tracking now to ensure that the quality of the services that people will get is of good quality.”

 

 

 

 

 

 

 


Kindly share this post
Continue Reading

Telecom

MTN Nigeria Says 50 Percent Tariff Wike will Services

Published

on

Karl Toriola, the chief executive officer (CEO) of MTN Nigeria
Kindly share this post

MTN Nigeria has said that the approval of a 50 percent tariff adjustment for telecommunications companies (telcos) will go a long way to improving the country’s critical infrastructure and services.

MTN Nigeria Says 50 Percent Tariff Wike will Services

Karl Toriola, the chief executive officer (CEO) of MTN Nigeria

In a statement on Tuesday signed by Uto Ukpanah, company secretary, and published on the Nigerian Exchange Limited (NGX), MTN Nigeria said the adjustment will empower millions of people and businesses and contribute to the country’s overall economic development.

On December 30, 2024, the Association of Licensed Telecommunications Operators of Nigeria (ALTON) warned that its members might begin shedding services if urgent action is not taken to review tariffs, as the Nigerian telecommunications industry is facing critical challenges.

Also, on January 1, the Association of Telecommunications Companies of Nigeria (ATCON) asked the Nigerian Communications Commission (NCC) to review call tariffs upwards by the first quarter of 2025.

Two days later, Karl Toriola, the chief executive officer (CEO) of MTN Nigeria, said telcos wanted a 100 percent increase in tariffs.

However, on January 20, the NCC approved a 50 percent tariff increase — the first hike in 12 years.

Addressing the adjustment, MTN Nigeria said it is a “significant milestone in ensuring the long-term sustainability of the telecoms industry, supporting the country’s critical infrastructure and services”.

On his part, Toriola said the tariff increase represents an important step towards addressing the impacts of the prevailing economic challenges on the business and industry.

“We deeply appreciate the Federal Government of Nigeria, the Honourable Minister of Communications, Innovation and Digital Economy, the NCC and our industry bodies for their continued support in ensuring the telecoms sector remains sustainable,” he said.

“This tariff adjustment represents an important step towards addressing the impacts of the prevailing economic challenges on our business and industry.

“It will enable us to maintain the critical investments required to deliver reliable, high-quality services to Nigerians.”

Toriola said the company remains committed to supporting Nigeria’s digital transformation agenda and driving inclusive growth for all stakeholders.

 


Kindly share this post
Continue Reading

Trending