According to the Banking on Innovation report by Briter Intelligence and Lateral Frontiers, fintech firms in Egypt, Kenya, and Nigeria collectively raised more than $6.5 billion in the last decade.

This shows a shift from rapid expansion to sustainable, partnership-driven growth.

The report found that Nigeria alone attracted over $3 billion, led by major payment startups such as Paystack, Flutterwave, and Moniepoint, while Kenya’s fintech ecosystem secured around $2 billion, largely in digital credit and asset finance. 

Egypt’s fintech sector, now the country’s most funded, amassed $1.68 billion, driven by players like Fawry, Khazna, Paymob, and MNT-Halan.

What stands out is how collaboration, rather than disruption, is now bolstering Africa’s financial inclusion. In Egypt, Banque Misr’s partnership with valU has expanded Buy Now, Pay Later (BNPL) services to underbanked groups, modernising consumer credit in a country where cash remains dominant. 

In Kenya, Citi’s alliance with Visa and Cellulant created Citi Optimised Pay, tackling a $25 billion SME financing gap by allowing small suppliers to access instant payments. And in Nigeria, Paystack’s integration with leading banks has enhanced merchant transactions, a success so notable that Stripe’s $200 million acquisition of Paystack became a model for fintech-bank synergy across the region.

Across these economies, central banks are taking a more active role. Egypt’s Digital Wallet Interoperability Regulation and the Meeza national payments network, Kenya’s Digital Credit Provider laws, and Nigeria’s Open Banking Framework (2023) reveal a coordinated regulatory initiative to encourage innovation while maintaining consumer protection. 

Samakab Hashi, partner at Lateral Frontiers, noted, “Policymakers are no longer passive observers. They are actively shaping the future, using sandboxes, tiered licensing, and data protection mandates to balance innovation with stability.”

The research stresses that over one-third of all venture funding in Africa since 2014 has gone to fintech, now the continent’s most dynamic technology sector. 

However, the focus is now changing direction. Rather than chasing payment volumes, investors and founders are turning toward credit infrastructure, embedded finance, and insurtech, sectors with deeper, long-term impact.

On challenges, the report warns that issues around data governance, regulatory inconsistency, and compliance costs threaten progress. 

Nigeria’s resolutions on unlicensed digital lenders and Egypt’s limits on data sharing have slowed expansion for some startups. Still, fintechs are adapting through strategic partnerships, early engagement with regulators, and a stronger focus on cybersecurity and user trust.

For founders, the report recommends building before licensing, forming smart alliances, and focusing on infrastructure rather than duplication. In Egypt, the opportunity lies in e-KYC and Banking-as-a-Service; in Kenya, agricultural and SME credit tools; in Nigeria, open banking-based embedded finance.

Even with global venture slowdowns, African fintechs are standing on resilience and reinvention. Egypt’s steady growth, Kenya’s ecosystem maturity, and Nigeria’s scale show that the continent’s financial sector must continually focus on collaboration among banks, telcos, and innovators working together to bridge access and trust.

Disruption and the ability to collaborate, adapt, and build inclusive systems that leave no one behind, are highly indispensable among African fintechs and others.

As investor interest grew, the company’s stock price surged by 9.7%, closing at $5.70, driven by the recovery of Nigeria’s leading telecom operators, MTN and Airtel, from recent challenges.

IHS has seen its stock climb over 51% since the start of the year, outpacing both the S&P 500 and the tech sector. 

From $4.00 per share in January, it hit $5.94 by early May, its highest point since September 2023. Investors are responding to more than market positivity. The business is getting its fundamentals right.

In Q4 2024, IHS exceeded analyst expectations with revenue reaching $437.8 million and earnings per share landing at $0.73. These profits were supported by two key decisions: cost control measures and the renewal of major lease agreements with MTN Nigeria and Airtel Nigeria, its key clients. 

Together, the two telcos contributed 57% of IHS’s total revenue in 2024, with Nigeria alone accounting for 58.3% of the company’s entire earnings.

These numbers matter. They explain why long-term investors are eyeing IHS Towers more seriously. In 2024, the company secured 72% of its revenue under long-term contracts. 

That sort of predictability is rare in emerging markets and makes IHS less exposed to the type of volatility that often derails infrastructure investments.

One big win was the renewal of IHS’s Master Lease Agreements with MTN Group until December 2032. These deals introduced pricing models that account for Nigeria’s currency fluctuations and unpredictable energy costs, two issues that previously damaged profit margins. 

Add to that a similar agreement with Airtel in February 2024, and the picture starts to change: IHS now has a decade of secured earnings from its biggest customers.

Yet, these profits have not come without risk. Power generation alone swallowed 39.2% of IHS’s cost of sales in 2024. To tackle this, the firm has turned to hybrid energy setups, combining diesel, solar, and battery power, to manage costs. It’s a necessary adjustment in a country where grid reliability can’t be guaranteed.

CEO Sam Darwish also played a role in swaying investor sentiment. In the past month, he increased his stake in the company by $7.75 million. His holdings grew from $56.21 million to $64 million by early May, a 13.76% jump in value that directly shows confidence in IHS’s trajectory.

“In Nigeria, the NCC’s tariff increase is a positive development for mobile network operators that is expected to unlock investment in communications infrastructure,” IHS said in a statement. 

That investment is already taking shape, with plans to build 500 new towers in 2025. Many of these will support 5G expansion, especially in underserved regions of Nigeria where connectivity remains patchy.

Still, the risks are not buried. IHS Towers remains vulnerable to sabotage, site vandalism, and unauthorised shutdowns. “As a TowerCo, we continue to face operational challenges, such as those related to site security, sabotage, illegitimate shutdown of sites, and exposure to currency fluctuations, but we are committed to delivering for our customers,” the company stated. 

These threats, combined with current governance issues between IHS and MTN, remind investors that the business environment remains complex.

But the fundamentals are changing in IHS’s favour. Telecom operators are prioritising network efficiency over capital-heavy expansion. 

A tower-sharing agreement between MTN Nigeria and Airtel Africa, signed in March 2025, is expected to deepen IHS’s market role, allowing it to increase utilisation rates without needing massive upfront investment.

Ultimately, what we’re witnessing is not limited to a stock reacting to quarterly numbers, but a company slowly strengthening its place in Africa’s digital growth, one long-term lease, one hybrid-powered tower, and one traded share at a time.

Statistics released by the NCC show internet users dropped from 142.16 million in January to 141.25 million in February, with only a partial rebound to 142.05 million in March.

That dip in users came alongside a plunge in data consumption. Monthly usage fell by 12%, down from January’s all-time high of one exabyte to 893.06 petabytes in February. 

Though it climbed to 995.88 petabytes in March, that recovery didn’t undo the damage. Nigerians were rationing data. Prices had simply gone too high.

Despite that pullback, telecom operators somehow added 3.39 million new telephone lines between January and March. This brought the total number of active lines to 172.71 million and lifted teledensity to 79.67%. So while people may be speaking more, they are browsing less.

At the top of the pile, MTN Nigeria continues to thrive. With 75.62 million internet subscribers and 90.5 million active lines, MTN now commands over half of the mobile market. 

Airtel seconds with 58.3 million lines, Globacom has 20.7 million, and 9mobile has just 2.9 million.

Nowhere is this collapse more apparent than at 9mobile. In just two months, February and March 2025, the operator lost 318,825 subscribers. It now holds just 1.72% of the market. 

This comes as no surprise to those who have watched the company deteriorate. Customers continue to complain about poor signal, slow internet speeds, and frequent network failures. Internal investments have stalled, and retention efforts have fizzled.

Behind closed doors, 9mobile has been counting on a national roaming agreement with MTN to fix its problems. The deal would allow it to tap into MTN’s vast infrastructure, boosting its network reach and improving service quality. 

The partnership has been technically structured and commercially agreed. But it remains stuck at the regulatory level.

The NCC, which must approve the deal, is still conducting reviews. These include assessing the impact on competition, evaluating spectrum-sharing terms, and ensuring alignment with national broadband goals. The review timeline usually spans up to 12 weeks, but every delay eats into 9mobile’s relevance.

According to one industry executive familiar with the matter, “The NCC is delaying because it knows a deal gives the other party (MTN Nigeria) the upper hand. They know what it means for MTN to get its hands on 9mobile’s spectrum.”

This spectrum includes the 900 MHz, 1800 MHz, and 2100 MHz bands—valuable assets in an industry where infrastructure is everything. If MTN absorbs them, it could widen the already gaping divide between itself and every other operator.

Porting data reveals where the trust lies. Between February and March, MTN gained 4,855 new users who migrated from rival networks. In contrast, 9mobile saw 5,809 users leave, and only three joined its network during that period. The bleeding is constant. And without the roaming deal, there’s no bandage in sight.

It wasn’t always like this. When 9mobile operated as Etisalat Nigeria in 2015, it had over 23 million subscribers. Today, it has less than three million. That’s a 90% collapse in less than a decade. And yet, the company still hasn’t hit bottom.

The NCC hasn’t commented publicly on the status of the roaming application. MTN, too, has remained silent. But from inside the industry, the stakes are understood. 

Until the NCC makes a call, 9mobile remains in limbo. Every day without regulatory approval is another day closer to losing customers, with internet users sliding backwards. 

The Nigerian Communications Commission (NCC) recently reported that Nigeria’s internet consumption reached 973,455 terabytes in December 2024, a 36.5% increase from the previous year. 

That’s 998.79 million gigabytes of data used in just one month. Despite this surge in demand, the country’s broadband penetration stood at 44.43%, far below the 70% target set in the National Broadband Plan (2020–2025). 

Even more concerning, Nigeria ended 2024 with 164.9 million active telecom subscribers—down from 224.7 million the year before.

Imagine streaming a movie now costing as much as a meal, and staying online feels like a privilege reserved for the wealthy. 

This sharp decline in active subscribers, even with the growing need for internet services, is leading to talks of Nigerians being unable to afford staying connected.

Inflation and currency devaluation have shot the industry’s costs of operations really high, leading to the Nigerian Communications Commission’s (NCC) recent approval of a 50% increase in telecommunications tariffs—the first such hike in over a decade—to help operators manage the high expenses. 

The Need for Inclusive Resilience in the Telecom Sector

This tariff increase has struck conversations across various bodies. The Nigeria Labour Congress (NLC) has labelled the hike as “insensitive” and “unjustifiable,” especially given the current cost-of-living issue. 

While telecom operators argue that the challenges leave them with no choice, consumers are wondering if affordable connectivity is becoming a thing of the past.

Inflation is wearing out disposable income, forcing consumers to prioritise essentials over data and call plans. Businesses, especially SMEs, rely heavily on telecom services, but higher costs threaten their ability to stay competitive.

The rural-urban gap in connectivity may expand, as rural consumers—who already struggle with access—may be priced out of the market.

In the midst of these challenges, the telecom sector must find ways to remain profitable without sidelining lower-income consumers. The key lies in resilient and inclusive strategies that balance affordability, sustainability, and growth.

Strategy 1: Tiered and Flexible Pricing Models

1. The Power of Segmentation in Telecom

To effectively serve a diverse customer base, telecom operators should segment their users into low-income, middle-income, and high-income categories. This segmentation allows for targeted services that meet the specific needs and financial capabilities of each group.

2. Implementing Flexible Pricing Structures

• Pay-as-you-go options: Ideal for price-sensitive users who prefer to control their spending without committing to fixed plans.
• Subscription models: Offer middle-income consumers affordable packages with predictable billing cycles.
• Premium services: Provide high-income users with enhanced features such as high-speed internet and exclusive customer support.

3. Strategy 2: Infrastructure Cost Optimisation Through Public-Private Partnerships (PPP)

1. The High Cost of Expanding Telecom Network Infrastructure

Building and maintaining telecom infrastructure, such as towers and broadband cables, require huge capital investment. Inflation further increases these costs, making it challenging for operators to expand and upgrade their networks.

2. Leveraging PPP to Reduce Financial Stress

Collaborating with government entities and development banks can help telecom operators share the financial risks associated with infrastructure projects. For example, partnerships can be formed to extend network coverage to underserved rural areas, with shared investment and benefits.

In Kenya, the government and private telecom operators have partnered to expand rural connectivity, resulting in increased access to communication services in previously underserved regions.

Initiatives like the National Optic Fibre Backbone Project and partnerships with telecom providers such as Safaricom, Telkom Kenya, and Airtel have helped boost this.

Strategy 3: Digital Transformation and AI-Driven Efficiency

1. How Digital Transformation Can Lower Costs

Leveraging digital tools and automation can simplify operations, reducing the need for manual intervention and lowering operational expenses. For instance, AI-powered network management systems can optimise bandwidth usage and predict maintenance needs, thereby reducing downtime and associated costs.

2. The Impact on End-Users

Customers benefit from faster and more efficient services, such as AI-driven customer support that can handle inquiries promptly. These efficiencies can lead to cost savings for operators, which can be passed on to consumers in the form of more affordable services.

Strategy 4: Expanding Alternative Revenue Streams

1. Moving Beyond Traditional Revenue Models

Relying solely on voice and data services is becoming more and more unsustainable. Diversifying into areas like financial technology (fintech), cloud services, and the Internet of Things (IoT) can open new revenue streams. This is seen in MTN’s transition to a Techco.

2. Monetising Digital Services

• Mobile money and payment solutions: Offer financial services to unbanked populations, generating transaction fees.
• Entertainment bundles: Partner with streaming services to provide bundled offerings, enhancing value for consumers.

MTN’s MoMo, Airtel Money and Safaricom’s M-Pesa are prime examples of telecom operators successfully launching into mobile financial services, greatly contributing to revenue growth.

Strategy 5: Strengthening Local Supply Chains to Mitigate FX Risks

1. The Problem of Foreign Exchange Dependency

Heavy reliance on imported equipment makes telecom operators vulnerable to currency fluctuations, increasing costs unpredictably.

2. Investing in Local Manufacturing and Partnerships

Developing local production capabilities for items like SIM cards and network components can reduce foreign exchange exposure. Partnering with local tech firms can also promote innovation and cost-effective solutions tailored to the local market.

Strategy 6: Data-Driven Decision Making for Telecom Customer Retention

1. The Cost of Customer Churn in an Economic Downturn

Losing customers can be more expensive than retaining existing ones, especially when inflation reduces consumers’ disposable income. High churn rates force telecom companies to spend more on marketing and customer acquisition, which can negatively impact already tight budgets.

2. Leveraging Big Data and Analytics for Personalised Offers

Telecom operators can use customer data analytics to identify usage patterns, predict churn risk, and design personalised retention strategies.

• Usage-based incentives: Offering discounts or data bonuses to customers who frequently recharge can encourage continued engagement.
• Loyalty rewards: Retaining long-term customers through perks such as discounted family plans or exclusive streaming deals.

MTN and Airtel have successfully used data analytics to provide dynamic pricing models, such as location-based discounts and time-sensitive data plans, reducing churn and boosting customer satisfaction.

Strategy 7: Strengthening Regulatory and Industry Collaboration in Telecom

1. The Impact of Government Policies on Telecom Viability

Government policies on taxation, spectrum licensing, and price regulations are important in determining telecom sector stability. The recent 50% tariff hike approved by the Nigerian Communications Commission (NCC) is an example of how policy decisions directly affect consumers and telecom operators.

2. Advocacy for Fair and Sustainable Policies in the Telecom Sector

Telecom companies must engage policymakers and industry regulators in constructive dialogue to ensure that tariff adjustments, tax structures, and regulatory frameworks balance profitability with affordability for consumers.

3. Encouraging Investment-Friendly Policies in the Telecom Sector

• Reducing multiple taxation: Telecom firms should advocate for streamlined tax policies to prevent excessive levies that inflate operational costs.
• Incentives for rural expansion: Government support, such as tax breaks for rural infrastructure projects, can make connectivity more accessible in underserved areas.

Regulatory frameworks can encourage competitive pricing while ensuring telecom operators remain profitable.

Summary of Key Points

Though there are economic pressures like inflation, telecom operators can thrive and ensure inclusive connectivity by implementing seven key strategies:

1. Tiered and flexible pricing models to serve all income groups.
2. Public-private partnerships (PPP) to reduce infrastructure costs.
3. Digital transformation and AI for cost efficiency.
4. Diversifying revenue streams beyond data and voice services.
5. Strengthening local supply chains to reduce foreign exchange risks.
6. Using data-driven strategies to retain customers.
7. Collaborating with regulators to ensure fair pricing policies.

The Lot of Resilient Connectivity

With smart, adaptive strategies, telecom operators can continue to deliver quality services across all economic segments while mitigating the impact of inflation.

The telecom sector must act assertively by adopting innovative pricing, infrastructure investment, and customer-centric solutions. 

Regulators, industry leaders, and consumers must collaborate to ensure that connectivity remains affordable, sustainable, and inclusive—regardless of economic conditions.

Analysts believe this will prompt telcos to evolve into techcos while partnering with IT service providers to meet modern demands and increase revenue via cross-selling/upselling.

Tinuade: ‘Telcos to TechCos’, Trends to Watch in the Nigerian Telecommunications Sector in 2025

Embracing this transition, telcos can capitalize on strategic partnerships to drive growth, expand their portfolios and cultivate end-to-end solutions that align with the shifting landscape of IT and telco market demands.

Transforming telcos into techcos: the role of channel partners

The telecommunications (telco) services market is undergoing a significant transformation, driven by the need to adopt business models similar to big tech companies.

Commenting on a recent report by Canalys, Devan Adams, a principal analyst at the firm delved into how channel partners can act as catalysts in this transformation, helping telcos enhance their go-to-market strategies, expand sales and deliver comprehensive solutions:

Key insights

Market growth and opportunities

• The total addressable market (TAM) for telco services is projected to reach US$1.49 trillion in 2025, growing at 3.7% year on year. In contrast, IT services revenue is expected to reach $1.75 trillion, with a 10.7% year-on-year growth rate.
• These stark growth differences highlight the urgency for telcos to evolve their business models to include modern IT services, thereby increasing their revenue through cross-sell and upsell opportunities.

Telco to techco transformation

• Leading telcos like China Mobile, NTT, SK Telekom, Telefonica, Vodafone, e& and AT&T are successfully transitioning to techcos by adopting software and platform-based models, focusing on AI, big data, and cloud services.
• This transformation involves offering high-growth services that can be combined with telco connectivity to meet general market demands and address specific vertical needs.

Channel partner contributions

• Technology services distributors (TSDs)/marketplaces: curate and customize telco solutions, provide tools, training and support to tier-2 partners, and offer digital marketplaces to expand reach and access new customer segments.
• Value-added resellers (VARs): bundle telco services with advanced IT hardware and software, creating comprehensive solutions that enhance customer value and drive higher sales.
• Systems Integrators (SIs)/aggregators: enable large-scale digital transformation projects by integrating telco services with enterprise-grade IT solutions, combining wired/wireless networks with applications, IoT or AI capabilities.
• Managed service providers (MSPs): offer fully managed IT and telco service packages, ensuring consistent quality and performance, and enhancing customer satisfaction.
• Independent software vendors (ISVs): develop compatible IT software that adds value to telco platforms, improving user experience and addressing new use cases.
• Hyperscalers/cloud service providers: provide scalable cloud-based solutions and extensive customer bases, co-creating solutions with telcos and enhancing go-to-market strategies through joint marketing efforts.

Blurring lines between IT and telco

• The convergence of IT and telco is evident as partners increasingly offer integrated solution bundles that combine connectivity with high-growth IT solutions like cloud, AI and cybersecurity.
• Partners frequently bundle telco connectivity with IT solutions, with 80% stating they do so regularly. This trend underscores the importance of offering comprehensive, integrated solutions to meet evolving customer needs.

Go-to-market developments

• Telcos must optimize their partnerships with channel partners to drive digital transformation, enhance customer experiences and achieve substantial sales growth.
• By leveraging the strengths of their channel partners, telcos can provide end-to-end solutions, diversify revenue streams and capitalize on the latest market trends.
• Telcos should fully exploit their existing partnerships with hyperscalers and other big tech companies to revitalize their go-to-market strategies and emulate the agility and innovation of big tech companies.

Conclusion

“Channel partners are essential in helping telcos transform into techcos, enabling them to operate more like big tech companies. This report provides valuable insights and strategic recommendations for telcos and their partners to navigate this transformation successfully.

By formulating strategic plans based on their channel partners’ competencies, telcos can empower their partners to act as stimuli in their journey to operate and perform like big tech companies”, Devan Adams, said.

There have been insinuations that telcos – MTN, Glo, Airtel and 9mobile, gift free airtime, data and other services to NASS members consisting of a Senate with 109 members and a House of Representatives with 360 members.

While fielding questions from callers on Nigeria Info 99.3 FM programme on Tuesday, January 28, 2025, monitored by Techeconomy, Engineer Gbenga Adebayo, chairman, Association of Licensed Telecommunication Companies of Nigeria (ALTON), debunked the claims, stressing “We don’t provide pro bono services for any group of people, whether in private or in public (sector)”.

Continuing, the ALTON chairman said, “These are ethical issues and related to (corporate) governance.

“I represent the Association, and I know the principles of (corporate) governance that were placed within our member.

“We can’t come to public radio to make assumption(s) that certain people are getting certain benefits without facts. I’m sorry to say, we are a highly regulated sector”. We are highly disciplined people. We have significant ethics and corporate governance principles that we follow.

When asked for further clarifications on why telcos do not provide pro bono services to NASS members, the ALTON chairman, said: “We do not offer pro bono services to avoid compromising the integrity of the institution(s)”.

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On assumption of office, Dr. Aminu Maida, the executive vice chairman of the Nigerian Communications Commission (NCC), vowed that transparency will form the bedrock of his leadership as Nigeria’s chief telecom regulator as this will enable a solid foundation in building a resilient, accountable and efficient institution.

Maida spoke during a courtesy visit to Dr. Bosun Tijani, the minister of Communications, Innovation, and Digital Economy, in Abuja recently while briefing the minister on his activities, vision, and strategy after his assumption office in October 2023.

“Transparency is key. It is by transparency that we can self-regulate even as regulators. And by so doing, we would be putting ourselves on our toes, which in the long run will drive the Commission forward to achieve our goals of operational excellence,” Maida stated.

According to the directive in a Tuesday public notice signed by Reuben Muoka, NCC’s director of Public Affairs, the affected banks must settle their outstanding obligations by January 27, 2025, or risk losing access to their USSD codes.

These codes, essential for enabling mobile banking services, could be reassigned to other applicants if the debts remain unresolved.

The commission revealed that, as of Tuesday’s close of business, nine out of 18 financial institutions had not complied with regulatory directives.

While other banks have cleared their debts, the total amount initially owed by the financial institutions was reported to exceed N200 billion.

However, the regulator did not disclose the precise debt currently owed by the affected banks.

According to the NCC, some of the unpaid invoices have remained unpaid since 2020, indicating a prolonged financial dispute between the banks and telecom operators.

Part of the notice read,

“By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020.”

The regulator noted that banks’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing requirements for the renewal of the USSD codes assigned to them by the commission.

It added,

“In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”

The affected financial institutions include;

1. Fidelity Bank Plc,
2. First City Monument Bank (FCMB),
3. Jaiz Bank Plc,
4. Polaris Bank Limited,
5. Sterling Bank Limited,
6. United Bank for Africa Plc,
7. Unity Bank Plc,
8. Wema Bank Plc, and
9. Zenith Bank Plc.

The affected USSD codes include 770, 919, and 822, among others.

The NCC emphasised that the financial institutions had been duly notified of the need for immediate compliance and warned that consumers may face service disruptions if the issues remain unresolved.

This development highlights ongoing tensions between telecommunications companies and financial institutions over unpaid USSD-related debts, a challenge that has persisted for years.

Meanwhile, data from the CBN revealed that 252.06 million transactions worth N2.19 trillion were conducted via USSD between January and June 2024.

This represents a significant growth compared to 2023 when 630.6 million transactions valued at N4.84tn were completed using USSD codes.

Originally designed by telecom operators for services like airtime purchases and subscriptions, USSD has become a key tool in the banking sector, offering financial services to users without requiring an Internet connection.

This follows an earlier postponement from the original launch date of October 27, which was delayed to allow for final consultations with stakeholders.

The upcoming tariff plan framework targets the simplification of telecom services for Nigerian consumers, addressing long-standing issues related to the complexity of available services. 

Under the new framework, telecom operators will be restricted to offering no more than seven distinct tariff plans. 

This is designed to reduce confusion, making it easier for consumers to navigate and choose the most suitable plans for their needs. The NCC new tariff initiative aims to create a more transparent, user-friendly environment, enhancing service delivery while promoting affordability across the sector.

In addition to the tariff reforms, the commission has responded to issues over rapid data depletion, a common grievance among telecom users. 

The NCC has clarified that telecom companies are not solely to blame for excessive data usage. Rather, the type of smartphone being used largely influences how quickly data is consumed. 

To address this, the commission has launched an awareness campaign aimed at educating consumers on how to select devices that better match their data needs. The goal is to enable users to make informed choices and optimise their data consumption.

The NCC’s decision to restrict the number of tariff plans also aims to improve consumer protection and ensure fair competition among telecom operators. 

In reducing the number of available plans, the commission hopes to promote transparency and make it easier for consumers to understand the pricing structures of telecom services.

These changes are part of the NCC’s current focus on enhancing the telecommunications sector in Nigeria, with an emphasis on safeguarding consumer interests. 

The public awareness campaigns and educational initiatives surrounding data usage and phone selection are expected to help in achieving these objectives. 

The December 13 launch date will enable telecom users to receive a more straightforward and customer-centric service experience, with clearer choices and better control over their telecom spending.

This recognition underscores Flutterwave’s unwavering commitment to excellence, innovation, and facilitating seamless cross-border payments for all individuals and businesses.

The IPR Awards celebrates the outstanding achievements of the most innovative companies in the global money transfer sector, such as Money Transfer Operators, Banks, Fintechs, and Telcos.

The awards are in alignment with the IPR’s efforts since 2018 to foster collaboration between payments and remittance professionals, exchange best practices, and drive positive change within the industry.

Naming Flutterwave, “Company of the Year”, IPR recognizes the Company’s ongoing commitment to serving enterprise businesses with its Flutterwave for Business suite of products and retail customers through Send App by Flutterwave, its innovative cross-border remittance solution.

This award recognises Flutterwave’s forward-thinking innovations, which have enabled individuals and businesses across Africa and beyond to access simple remittance services providing millions of Africans in the diaspora with seamless cross-border transactions.

Yewande Akomolafe-Kalu, Interim head of Marketing at Flutterwave commented,

“We’re excited to be named IPR’s “Company of the Year.” This award is especially important to us because it recognizes our innovations in the payment ecosystem and the role they play in transforming cross-border transactions. With a strong focus on connecting Africa to the world and the world to Africa with seamless payment solutions, we’ve continued our continental leadership as an ecosystem enabler and an innovation trendsetter.”

Flutterwave was named Fast Company’s Most Innovative Company for Europe, the Middle East, and Africa in 2024.

The Company recently appointed a new Chief Financial Officer, Mitesh Popat, to drive its next phase of growth to create sustainable value for its customers and broader payment ecosystem in Africa.

This move aims, according to a statement signed by Reuben Muoka, director, Public Affairs at NCC, to provide clear, easy-to-understand, and accurate information about the cost of voice, short messaging service (SMS) and data services to subscribers.

“The directive, titled ‘Guidance on the Simplification of Tariffs in the Nigerian Communications Sector,’ was issued on July 29, 2024. It mandates Mobile Network Operators (MNOs) to publish a comprehensive table showing the features of their tariff plans and bundle offers.

“The table should contain all necessary information for subscribers to make informed decisions, including details on add-ons, their prices, how consumers can opt-in or out, terms and conditions for renewal, and rollover policies”, Muoka said.

Techeconomy gathered that NCC’s guideline is the outcome of consultations with industry stakeholders, including MNOs and Consumer Focus Groups, and extensive data analysis on consumer preferences and expectations.

“The objectives of the simplification guidelines are to reduce the complexity of tariff plans and bundles, ensure transparency and fairness of promotional elements of tariff plans, protect consumers’ interests by providing clear and understandable tariff information so that they make informed decisions, and promote fair competition among licensees by standardising tariff structures.

“Service providers are also required to display all relevant information about their tariffs, such as the name of the plan, price, validity period, price-per-second for on or off-network and international calls, expected data speeds, and fair usage policies.

“Operators can maintain existing bonus-led tariff plans till 31st December 2024, within which period operators are expected to educate and migrate all subscribers to the simplified tariff plans,” the directive stated.

The guidelines further mandate that MNOs must communicate tariffs to subscribers in “clear language and a user-friendly format,” with full disclosure of a subscriber’s tariff plan via Unstructured Supplementary Service Data (USSD).

Additionally, “operators must offer stand-alone data bundles at fair prices to avoid tying consumers with products they do not need; bonuses on promotions must be stated in actual value; access fees and asymmetric fee structures must be eliminated,” among other conditions.

The NCC emphasised that while complying with these guidelines, operators must also meet the Key Performance Indicators (KPIs) standards set out in the Quality of Service (QoS) Regulations.