Telecom
Winners Emerged in TECNO #LightUpYourDream2018 Promo
Tecno Mobile’s 2018 light up your dream campaign came to a remarkable end as four budding fans and entrepreneurs each went home 1million Naira richer to help achieve their dreams.
After thousands of entries and weeks of tedious work, 20 participants were selected to make a live pitch before fans, staff, executives, guests and judges, Actress Bisola Aiyeola of Big Brother fame and Celebrity blogger Noble Igwe at a glamorous event which took place at the TECNO headquarters in Lagos, where the grand prize winners Jeremiah Okoh and Henry Emeka Nnamani went home smiling with 1 million Naira and a brand new TECNO SPARK 2 each.
The contestants who came 3rd – 10th went home with brand new TECNO SPARK 2 smartphones, while those in 11th to 20thposition went home with brand new rechargeable fans.
It was an emotional moment for one of the grand prize winners; Jeremiah Okoh, a ginger Agropreneur from Kaduna, when he spoke on how grateful he is to God and TECNO as tears of joy trickled down his eyes “standing here and holding this cheque is a dream on its own. I cannot believe this.’ Speaking on how he participated he said “my friend drew my attention to this activity, I decided to give it a shot and see me today, I really cannot believe this is me holding a 1 million Naira cheque in my hands”
Also speaking at the event, PR and strategic partnership manager TECNO Nigeria, Mr. Jesse Oguntimehin said
You already know that at TECNO, giving is part of our DNA. Nigeria is filled with a lot of talented people that do not have the opportunity to bring that dream to the fore due to several reasons which of course includes finance.
So, we are doing our bit by providing the finance to make things easier for them and we are very glad to get these young dreamers closer to their dream”
The search for the millionaires began on the 13th of June 2018, after the launch of TECNO’s latest smartphone from the Spark stable – TECNO SPARK 2, a device built to capture impressive bright and clear pictures, gave an opportunity to everyone with a dream to win the sum of 1 million naira by just creatively showcasing their special talent or life goals.
Interested participants were simply asked to upload a video, image or text of their dream, and demonstrate how they will celebrate if they eventually win the 1 million Naira. After they make the submissions on their social media platforms with the hashtag #LightUpYourDream2018 and tag TECNO Mobile with its different social media handles, they get their friends to like and share to support them.
And, interested participants who were probably too shy to do something creative, were also given the opportunity to win by simply walking into any designated TECNO retail store to purchase the new TECNO Spark 2 as a raffle ticket will be given to them- that raffle automatically gave them the opportunity to win the money also.
The Light Up Your Dream competition was started last year after the launch of the first TECNO Spark edition, and is seemingly becoming an annual event. So, fans and customers should probably keep their fingers crossed and brush up on their creative juice for next year’s edition.
Telecom
FG Gives Banks, Telcos Six-Month Deadline to Resolve N250Bn USSD Debt
Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have ordered Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute before January 2, 2025.
The CBN and NCC also directed banks to pay the pre-Application Programming Interfaces (API) debt before July 2, 2025.
They also ordered that post-API debts be settled before December 31, 2024.
The directive was issued in a joint cirular titled, “2nd Joint Circular of the Central Bank of Nigeria and the Nigerian Communications Commission on the Resolution of the USSD Debt Issue Between Deposit Money Banks and Mobile Network Operators.”
The circular dated December 20, 2024, was signed by Oladimeji Taiwo, acting director of the Payments System Management Department, CBN, and Chizua Whyte, head of Legal and Regulatory Services, NCC.
The regulators said, “In view of the foregoing, the CBN and the NCC hereby direct DMBs and MNOs as follows: 1. That 60 per cent of all pre-API invoices must be paid as full and final settlement.
“Payment plans (lump sum or installments) must be agreed upon between a concerned DMB and MNO by January 2, 2025. Installments must be based on equal monthly payments, with full payment due by July 2, 2025.
“DMBs must pay 85 per cent of all outstanding invoices issued after the implementation of APIs (i.e., February 2022) by December 31, 2024.
“Similarly, 85 per cent of future invoices must be liquidated within one month of service.”
According to the regulators, the transition to end-user billing will be activated only for DMBs and MNOs that comply with the payment conditions cobtained in the circular.
CBN and the NCC said they would provide further guidance on public enlightenment initiatives related to the transition.
The regulators also directed MNOs to implement the “10-seconds rule” for USSD invoicing.
This implies that any session lasting less than ten seconds will not be billable.
The regulators added, “Failure to comply with the terms outlined in this directive will attract necessary sanctions, ensuring that both DMBs and MNOs uphold their obligations.”
Telecom
NCC Launches Initiative to Combat Fraud, Spam Messaging
Nigerian Communications Commission (NCC) has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the Application-to-Person messaging sector.
The telecom regulator made this announcement in a statement.
The proposed framework, which was introduced during a virtual Stakeholders’ Forum, is said to be a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.
The draft framework, presented by Aminu Maida, executive vice chairman, NCC, who was represented by Chizua Whyte, NCC’s acting head of legal and regulatory services, seeks to regulate the A2P messaging space.
The A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.
However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.
“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.
The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.
“This forum marks a pivotal step towards addressing these challenges. We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”
The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.
Telecom
Airtel Africa to Return $100m to Shareholders via Share Buyback
Airtel Africa, a provider of telecommunications and mobile money services, has announced the commencement of a second share buyback programme that will return up to $100m to shareholders.
The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.
Furthermore, the buyback remains in line with the Company’s existing capital allocation policy.
According to the company, the programme will be executed in accordance with applicable securities laws and regulations.
The share buy-back programme is expected to be phased over two tranches, with the first tranche commencing today and anticipated to end on or before 24 April 2025.
The first tranche will amount to a maximum of $50m.
The Company has entered into an agreement with Barclays Capital Securities Limited (Barclays) to conduct the first tranche of the buy-back and carry out on-market purchases of its ordinary shares with the Company subsequently purchasing its ordinary shares from Barclays.
Under this agreement, Barclays will act as riskless principal and will make decisions independently of the Company.
The sole purpose of the buy-back programme is to reduce the capital of the Company.
It noted that as such, all shares purchased under the buy-back programme will be cancelled.
In a statement signed by Simon O’Hara, group company secretary, the company noted that the share repurchase process will adhere to pre-set parameters agreed upon with Barclays Capital Securities Limited (Barclays), the executing partner for the first tranche of the buyback programme.
This partnership ensures that purchases are conducted transparently and in compliance with all regulatory requirements.
The buyback will be executed under the authority granted by shareholders during the Annual General Meeting held on July 3, 2024, which permits the repurchase of up to 374,141,187 ordinary shares.
Following the completion of a prior buyback programme, the remaining authority allows for the acquisition of up to 328,842,995 shares.
Additionally, Airtel Africa confirmed its commitment to adhering to the Financial Conduct Authority’s UK Listing Rules 9.6 and the provisions of the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK domestic law.
The company also clarified that share purchases may occur during closed periods, consistent with these regulations and the agreed parameters.
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