Beya takes over after serving as acting CEO since November 2025, a period during which he oversaw the company’s strategic, operational and commercial activities. 

He joined Liquid DRC in September 2022 as chief financial officer.

His appointment brings more than two decades of experience in the telecommunications industry, including extensive knowledge of the Congolese market. 

Before joining Liquid, Beya held senior positions at Tigo/Millicom and Orange. He also led the Tigo-Orange merger in the DRC and later served as Director of Finance and Administration at Orange Money RDC.

Commenting on the appointment, Sutha Siva, executive vice president and group chief operating officer at Cassava Technologies, said the company sees strong growth opportunities in the country.

“The DRC represents one of the most exciting growth opportunities in our region, and Bernard’s appointment comes at an important moment in our journey. 

“His deep understanding of the local market, combined with his commitment to customer success and operational excellence, will help accelerate our ambitions to expand digital infrastructure and enable greater economic growth across the country.”

During his time in leadership, Beya helped reduce the costs of operations while keeping services running. He also restored positive cash flow by improving working capital management and strengthened the company’s billing systems and internal controls.

Speaking on his new role, Beya said the company will continue to build on the progress already made while expanding access to digital services across the country.

“I am honoured to lead Liquid DRC’s next phase of growth. Our priority is to build on the strong operational and financial foundation we have established to deliver greater value for our customers and partners. 

“As a business of Cassava Technologies, we can expand access to reliable connectivity, cloud, cybersecurity, colocation and compute AI for our customers. We can play a meaningful role in accelerating digital transformation for the country’s enterprises, government, and communities.”

Liquid Intelligent Technologies operates under Cassava Technologies, which has a presence in more than 40 markets across Africa, the Middle East and Latin America. 

The company runs a fibre network spanning more than 116,000 kilometres, supported by satellite connectivity that delivers broadband services across the continent.

In the DRC, Liquid provides connectivity, cloud, cybersecurity, colocation and AI computing services to businesses and public sector organisations.

The appointment comes as the DRC continually invests in broadband infrastructure, digital connectivity and technology skills as part of its national digital transformation plans. 

Demand for enterprise connectivity and cloud services has continued to grow, although challenges such as infrastructure gaps, high connectivity costs and regulatory hurdles remain.

Liquid said it expects Beya’s leadership to strengthen its position in the market as it supports the country’s efforts to expand digital access and drive economic growth.

The post Liquid Intelligent Technologies Appoints Bernard Beya as CEO for DRC Operations appeared first on Tech | Business | Economy.

This is one of the biggest changes in its history as it separates its broadband and technology operations from its media and entertainment assets.

The tax-free spin-off, which is expected to be completed within the next year, will see NBCUniversal and Sky become an independent company, while Comcast continues as a standalone technology and connectivity business. 

Existing Comcast shareholders will own shares in both companies after the separation.

The media company will include Universal’s film and television studios, NBC, Telemundo, streaming platform Peacock, Sky, Bravo and Universal’s theme parks. 

Comcast, meanwhile, will focus on broadband, wireless services, business connectivity and its technology platforms.

The company said the decision reflects changes in the communications and entertainment industries, arguing that each business will be better placed to pursue its own growth plans and respond to changing market conditions.

Brian Roberts, chairman and co-chief executive officer of Comcast, will remain involved in both businesses after the separation. 

Mike Cavanagh will become CEO of the new NBCUniversal, while former Comcast Chief Financial Officer Michael Angelakis will return as Comcast’s CEO after the transaction is completed. He will first rejoin the company as a strategic adviser.

Announcing the decision, Roberts said: “This is a very exciting day for our company. The transaction we are announcing will unlock a more entrepreneurial management approach and open up a multitude of new opportunities for each business. I very much look forward to helping guide our collective growth for this next chapter.”

Speaking about the leadership changes, he added: “Mike Cavanagh will lead the new NBCUniversal media and entertainment company as CEO. Mike is one of the finest executives I’ve ever worked with and a trusted partner. His vision is for a unique, independent, focused company that will be home to some of the industry’s most valuable brands and assets across theme parks, film, television, streaming, sports and news.”

Roberts also welcomed Angelakis back to the company, saying, “I am also incredibly pleased to welcome back Michael Angelakis as Comcast CEO. As our widely admired former CFO, Michael’s deep knowledge of the business and passion for technology – combined with the leadership of Steve Croney, Jason Armstrong and the entire Comcast management team – will serve us well as we continue to take bold actions in today’s competitive environment.”

Cavanagh said both companies would begin operating independently from a position of strength.

“Both companies begin this next chapter from positions of strength. Comcast will continue to build on its leadership in connectivity, while NBCUniversal, together with Sky, will have the scale, brands, content and financial resources to compete as a premier global media and entertainment company,” he said.

He added, “I’m personally thrilled to continue leading NBCUniversal into the future. With our iconic brands and theme parks, leading franchises and incredible creative talent, we are well-positioned for long-term value creation.”

Angelakis said he was looking forward to returning to the company.

“I have had the privilege of working alongside Comcast’s talented leadership team for many years, and am excited to return to partner with Brian, Steve, Jason and the entire organisation. Comcast’s exceptional assets, entrepreneurial roots, deep customer relationships and strong track record of innovation and technological leadership provide a powerful foundation for the future.”

The separation reverses years of consolidation that brought content production and distribution under one company. Comcast first acquired a controlling stake in NBCUniversal from General Electric in 2011 before taking full ownership two years later.

The move also follows growing pressure on traditional media companies as cable television subscriptions continue to decline and streaming services reshape the industry. At the same time, Comcast’s broadband business has faced increasing competition from wireless internet providers and expanding fibre networks.

Industry analysts believe the split could also make NBCUniversal more attractive for future mergers or acquisitions, although no potential deal has been announced.

Comcast said the transaction remains subject to regulatory approvals, board approval, financing arrangements and other customary conditions. The company also plans to retain up to a 19.9% stake in NBCUniversal for up to one year after the spin-off before gradually selling that holding in a tax-efficient manner.

The post Comcast to Split Into Two Public Companies as NBCUniversal Becomes Independent appeared first on Tech | Business | Economy.

Ajayi takes over at a time when MTN is expanding its investments in cloud infrastructure, artificial intelligence, automation and digital services as it seeks to expand its reach across Nigeria’s competitive telecoms market.

Describing enterprise architecture, digital transformation and platform scale as key areas that have shaped her 27-year career in technology, Ajayi previously served as General Manager, Architecture and Engineering at MTN Nigeria.

During that period, she led architecture and engineering strategy across MTN’s digital, enterprise and customer-facing platforms, supporting services used by over 90 million subscribers.

Her responsibilities also included driving technology transformation programmes, overseeing platform resilience and security, and leading engineering teams across the business.

Ajayi joined MTN in 2003 as an Applications Support Engineer for billing systems and steadily rose through the ranks.

Over the years, she held several leadership positions across enterprise delivery, product development, customer experience operations and information systems before becoming General Manager, Architecture and Engineering.

In her new role, she will oversee the company’s technology strategy and infrastructure as MTN scales platform modernisation and the expansion of digital services.

Speaking on the appointment, Roger Shutte, general manager, Infrastructure and Cloud Engineering at MTN Nigeria, described her growth as recognition of years of hands-on leadership within the organisation.

“Bukola has been part of the engine room since the beginning. Not watching from a distance. Not arriving at the end. But deeply involved in the architecture, engineering, governance, resilience and execution that have shaped Technology in MTN Nigeria over the years,” he said.

Bukola Ajayi assumes the CIO position at a critical period for MTN Nigeria, the country’s largest mobile network operator which serves more than 90 million subscribers and accounts for a significant share of MTN Group’s revenue.

The company has been investing heavily in digital platforms, cloud technologies, artificial intelligence and financial services as it looks beyond traditional voice and data services.

With digital services now indispensable to its operations, Ajayi will be responsible for overseeing MTN’s technology strategy, platform development and information systems.

Her promotion further strengthens female representation in senior technology leadership roles within Nigeria’s telecommunications industry, where women are underrepresented in executive technical positions.

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Designed to drive Nigeria’s goal of moving broadcasting from analogue to digital systems, the platform was launched by the Presidency today, June 17, with services now going live.

FreeTV is part of the country’s Digital Switch-Over programme, which aims to expand access to television services and expand digital broadcasting across the country.

The platform provides clearer picture quality, a comprehensive mix of local and international content, without monthly payments that normally come with pay-TV services.

The Director-General of the National Broadcasting Commission, Charles Ebuebu, said the platform is part of Nigeria’s digital broadcasting plan under President Bola Ahmed Tinubu’s vision of Renewed Hope Agenda.

“FreeTV speaks directly to President Bola Ahmed Tinubu’s vision of Renewed Hope towards expanding access, creating opportunity and ensuring that every Nigerian, regardless of location or income, can benefit from the digital economy,” he said.

He added that the platform would support content production and job creation across the broadcast sector.

“With FreeTV, families across Nigeria can enjoy quality digital television without a monthly subscription, while our local content producers, technicians and young creatives gain new platforms and new jobs,” he added.

FreeTV provides access to more than 100 channels spread across national, regional and state broadcasters. The line-up includes news, sports, films, music, children’s content and educational programmes and stations broadcasting in Hausa, Yoruba and Igbo.

The service runs on multiple platforms and is available through satellite transmission, terrestrial broadcasting and a mobile application. That design allows users in cities, smaller towns and rural areas to connect, including communities that earlier digital switch-over trials missed.

Households do not need to replace their television sets. Existing sets can work with DVB-T2 or DVB-S2 decoders. Some users with compatible free-to-air decoders may not need extra equipment at all.

The government also plans to expand production capacity through regional studio production in Lagos, Abuja, Port Harcourt, Enugu, Kano and Benin.

These centres will support content creation and technical production work.

The jobs linked to these hubs include editing, camera work, sound production and studio operations. Young creatives are expected to benefit from entry-level roles as production expands.

FreeTV arrives as Nigeria continues its Digital Switch-Over journey. The programme began in 2016 but was delayed due to funding and infrastructure gaps.

In 2023, the government cleared outstanding debts owed to service providers, which allowed the project to regain pace.

The final analogue switch-off is scheduled for December 31, 2028. Officials say households should begin checking decoder compatibility and preparing for full migration.

The National Broadcasting Commission projects wider economic gains from the transition. It estimates that the shift could unlock Nigeria’s N605.2 billion advertising market, opening new income streams for broadcasters and content creators.

FreeTV also brings new competition into the existing subscription TV market, where operators such as DStv and GOtv currently top the list.

Stakeholders expect stronger competition, especially around pricing and free-to-air offerings.

Despite the progress, Nigerians have noted concerns about operation, stressing the fact that reliable electricity and broadband are uneven across the country and this may affect access in some areas.

Sustaining a free model will also depend on advertising uptake and sustainable government backing.

The post Nigeria Launches ‘FreeTV’: A New National Platform Offering 100+ Channels Without Subscription Fees appeared first on Tech | Business | Economy.

The operators, under the Association of Licensed Telecommunications Operators of Nigeria (ALTON), said much of the money currently funding network expansion and infrastructure development comes from domestic financing, reinvested earnings and other funding channels that are not fully captured by the National Bureau of Statistics’ capital importation framework.

The reaction follows the release of the NBS Capital Importation Report for the first quarter of 2026, which showed that foreign capital inflows into telecommunications dropped from $80.78 million a year earlier to $7.24 million.

According to the report, telecoms accounted for just 0.07% of the $10.37 billion that entered the Nigerian economy during the quarter.

ALTON said the figure presents only part of the investment picture.

“…this metric appears to capture only a portion of the total capital actively deployed within the sector.

“Our industry’s substantial Capital Expenditure (CAPEX) figures suggest that current investment derives from domestic capital sources, reinvested operational earnings – financial mechanisms that may not be fully reflected in conventional foreign capital importation metrics,” the association said.

The group noted that mobile network operators, tower companies and other telecom firms invested about N2.13 trillion in capital projects in 2025. It added that planned capital expenditure for 2026 currently stands at N1.86 trillion.

According to ALTON, the funds are being directed towards network expansion, infrastructure upgrades, technology improvements and measures aimed at strengthening operational resilience.

The association argued that the wide gap between reported foreign inflows and actual spending within the industry points to shortcomings in the current method used to track investments.

To address this, it called for collaboration between the Nigerian Communications Commission (NCC), the National Bureau of Statistics and the Central Bank of Nigeria to develop a comprehensive framework for measuring investment in the telecom sector.

“To ensure Nigeria’s telecommunications sector investment profile is accurately represented, ALTON respectfully proposes a collaborative engagement among the Nigerian Communications Commission, the National Bureau of Statistics, and the Central Bank of Nigeria to develop a more inclusive and comprehensive investment-tracking framework,” the association stated.

Despite pressure from inflation, high costs of operations and foreign exchange challenges, ALTON said operators have always invested heavily to maintain service quality and expand connectivity across the country.

The association also credited the Federal Government’s approval of a 50% tariff increase in 2025 with improving operators’ ability to reinvest in their networks.

“The timely intervention enabled operators to transition from financial distress to a sustainable, growth-focused model characterised by significant capital reinvestment,” it said.

While telecom operators questioned the reported investment figure, the NBS data showed that foreign investors significantly increased their exposure to Nigeria during the quarter.

Total capital importation rose to $10.37 billion in Q1 2026, representing an 83.8% increase from $5.64 billion recorded in the same period last year. Compared with the previous quarter, inflows climbed by nearly 61%.

However, most of the money flowed into short-term financial assets rather than long-term productive investments.

Portfolio investments accounted for $9.86 billion, or about 95% of total inflows, while foreign direct investment stood at just $135 million. Other investments, including loans and trade credits, contributed $374.5 million.

The banking sector attracted the largest share of foreign capital, receiving $7.55 billion, followed by the financing sector with $2.43 billion. Manufacturing drew $152.3 million, while telecommunications received $7.24 million.

The post Telecom Operators Challenge NBS Data Showing 91% Drop in Foreign Investment appeared first on Tech | Business | Economy.

The meeting, held in Wednesday, brought together senior executives from both organisations to discuss the future of Nigeria’s telecommunications industry, infrastructure development, service quality, and emerging opportunities within the country’s rapidly evolving digital economy.

The Executive Management and Staff of ntel include Afolabi Oladunjoye, Ikechi Jim Nnah, George Ifeonyemetalu, Chinedu Anochirionye, Ariyike Akinbobola LL.B, Nasirudeen Babalola, who were received by the hairman of the NCC, in a meeting centered on innovation, industry growth, and the future of connectivity in Nigeria.

Also present were the Executive Commissioner, Technical Services, Engr. Abraham Oshadami; the Board Secretary, GT Mohammed; alongside members of the Commission’s management and staff.

Discussions during the engagement focused on strengthening industry collaboration, expanding broadband access, improving connectivity infrastructure, and driving innovation capable of supporting Nigeria’s digital transformation ambitions.

Speaking during the meeting, Olorunnimbe emphasised the importance of sustained investment, service quality, and innovation in delivering value to Nigerian consumers.

He encouraged ntel to continue positioning itself as a strong Nigerian player within the highly competitive telecommunications sector.

“The opportunity ahead is significant for operators committed to quality, innovation, and long-term value creation,” he said, reiterating the Commission’s commitment to supporting operators while strengthening the broader telecommunications ecosystem.

The NCC chairman also acknowledged ntel’s ongoing investments and new initiatives aimed at expanding broadband connectivity and enhancing digital access across the country.

For ntel, the visit provided an opportunity to deepen engagement with the regulator while reaffirming its commitment to delivering transformative digital infrastructure and innovative connectivity solutions for businesses, institutions, Internet Service Providers (ISPs), and communities across Nigeria.

The company said discussions also highlighted the growing demand for reliable broadband services and the importance of introducing innovative products capable of expanding digital inclusion and supporting economic growth.

The engagement comes shortly after ntel announced the deployment of NOVA (Tarana), its next-generation Fixed Wireless Access (FWA) initiative designed to improve access to high-speed wireless connectivity nationwide.

According to the company, the project is expected to strengthen ntel’s role as a digital infrastructure provider by enabling partner ISPs, enterprises, and organisations to deliver broadband services using its network infrastructure.

Both parties expressed optimism about continued collaboration toward building a more connected and digitally empowered Nigeria.

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New figures released on Monday by the National Bureau of Statistics showed the economy grew faster than the 3.13% recorded in the same period of 2025. 

Still, growth slowed slightly from the 3.99% posted in the fourth quarter of 2025.

The report points to resilience in the non-oil sector, even as crude oil production weakened during the quarter.

Agriculture recorded one of the strongest improvements. The sector grew by 3.15% in real terms, compared with just 0.07% in the first quarter of last year. Crop production was the biggest driver within the sector.

Services were the largest part of the economy, contributing 57.73% to total GDP. The sector expanded by 4.31% during the quarter, although that was slightly below the 4.33% growth recorded a year earlier.

Industry also improved moderately, growing by 3.50% from 3.42% in the corresponding period of 2025.

Nigeria’s non-oil sector continued to carry most of the economy. According to the NBS, the sector grew by 3.94% in real terms and accounted for 96.08% of total GDP in the quarter.

Telecommunications, crop production, trade, cement manufacturing, financial institutions, real estate, construction and road transport were among the sectors that supported growth.

Telecommunications was one of the strongest performers. Information and communication activities grew by 10.98% year-on-year and contributed 11.31% to real GDP, higher than the 10.59% recorded in the same quarter of 2025.

Trade contributed 17.89% to real GDP, while real estate accounted for 13.10%. The finance and insurance sector grew by 8.54%, and construction expanded by 6.38%.

In nominal terms, the country’s GDP stood at N110.79 trillion in the first quarter of 2026. That represents a 17.79% increase from the N94.05 trillion recorded in the same period last year.

Oil production, however, was under stress. Average daily crude oil output fell to 1.55 million barrels per day, lower than the 1.62 million barrels per day recorded in the first quarter of 2025. Production also dropped slightly from the 1.58 million barrels per day posted in the previous quarter.

Even with weaker output, the oil sector still recorded real growth of 2.57%, up from 1.87% a year earlier. Its contribution to total real GDP stood at 3.92%, slightly below the 3.97% recorded in the corresponding quarter of 2025.

The report also showed mixed performances across other sectors. Arts, entertainment and recreation recorded strong growth of 11.25%. On the other hand, electricity, gas, steam and air conditioning supply contracted by 15.30% in real terms.

Education growth slowed to 1.22%, down from 2.47% in the same period last year.

Nigeria is currently dealing with high inflation, expensive living costs and pressure on household spending. Inflation has remained above 15% despite ongoing reforms aimed at stabilising the economy.

Since 2025, the federal government has pushed ahead with policies including fuel subsidy removal, exchange rate unification and fiscal reforms as it tries to strengthen public finances and attract investment.

Compared with some African economies, Nigeria’s latest GDP growth figure placed it ahead of South Africa, where growth slowed to 1.9% in the same period. Ghana recorded 3.5% growth in the first quarter of 2026.

The post Nigeria’s GDP Grows 3.89% in Q1 as Agriculture, Telecoms Lift Non-Oil Sector appeared first on Tech | Business | Economy.

The decision, confirmed by the Nigerian Communications Commission (NCC), puts to rest months of uncertainty over the controversial levy that had threatened to increase call and data costs for over 172 million active subscribers in the country.

“The excise duty has been scrapped. It will not come back. This aligns with President Tinubu’s broader tax reforms and his Renewed Hope Agenda to make Nigeria’s business environment more competitive,” said Dr. Aminu Maida, executive vice-chairman of the NCC.

Background of the Controversial Levy

The excise duty was originally introduced in the 2020 Finance Act, sparking strong pushback from telecom operators and consumer advocacy groups who warned that it would stifle industry growth and worsen affordability for Nigerians already battling rising living costs.

In July 2023, President Tinubu suspended the levy via an Executive Order as part of his fiscal reform agenda.

However, discussions around its reinstatement resurfaced in 2024, creating unease in the industry until this latest announcement confirmed its permanent removal.

Implications for Subscribers and the Industry

The cancellation of the 5% duty is expected to:

• Ease Cost Pressure: Consumers could see more affordable voice and data tariffs.
• Boost Digital Inclusion: Lower costs will accelerate broadband adoption, aligning with the government’s push for a 70% broadband penetration target by 2025.
• Stabilize the Telecom Sector: Operators will have more breathing space to invest in infrastructure, especially as Nigeria pushes toward 5G expansion.

Industry analysts say the move is a major win for the ICT sector, which contributes more than 16% to Nigeria’s GDP, and could serve as a signal of the government’s commitment to creating a pro-investment climate.

What This Means Going Forward

While the removal of the tax is a relief, experts note that affordability gains for subscribers will depend on how operators adjust tariffs in response to reduced levies.

The NCC has assured Nigerians that it will continue to engage stakeholders to ensure consumers enjoy the benefits of the policy change.

The post 5% Telecoms Excise Duty Officially Scrapped – NCC appeared first on Tech | Business | Economy.

PAT aimed at catering to the telecommunication needs ranging from broadband, mobile telephony to other local value-added services in Africa.

A statement signed by its Board Chairman, Adefolarin Ogunsanya, reads:

“We are delighted to announce Osi Echezona Russell as the new Chief Executive Officer of PAT. We are confident in his strategic acumen, and we believe that his vision and commitment to excellence will be instrumental in guiding the Pan African Towers’ next phase of growth and transformation.”

Russell comes with vast experience having served as the Head of Network Deployment at Airtel Nigeria, Operations Director and Chief Technical Information Officer at MIC Tanzania, Chief Technology Officer roles at IPT PowerTech Nigeria, Rhino Niger Networks, and Biswal Nigeria.

He holds a Bachelor’s degree in Electrical/Electronic Engineering and a Postgraduate Diploma in Data Science and Business Analytics.

“He takes over strategic and executive leadership of our company with notable professional accomplishments encompassing network expansion, technology innovation, operational excellence and executive leadership”.

“He will work closely with the Board of Directors and the executive management team to ensure continuity in our business operations and improved customer service delivery”, the TowerCo’s statement reads.

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This is a 198.4% year-on-year increase in losses, primarily driven by the devaluation of the naira and high costs of operations.

Despite the losses, the telecommunications giant recorded a 36% increase in revenue, reaching ₦3.36 trillion, compared to ₦2.47 trillion in 2023.

The revenue surge was driven by increased data and voice subscriptions, but it was not enough to offset the ₦925.36 billion foreign exchange losses, which worsened from ₦740.43 billion in the previous year.

According to the financial statement released on February 27, 2025, MTN Nigeria’s operating profit stood at ₦778.24 billion, showing a marginal 0.6% growth from the previous year’s ₦773.66 billion.

However, the company reported a loss before taxation of ₦550.32 billion, representing a 209.4% decline from ₦177.89 billion in 2023.

Market and Dividend Impact

The losses largely affected the company’s market valuation. MTN Nigeria’s market capitalisation dropped by 24.2%, falling from ₦5.54 trillion in 2023 to ₦4.20 trillion by year-end 2024. Similarly, the market price per share fell to ₦200, a decline from ₦264 per share recorded in the previous year.

Due to the negative financial performance, MTN Nigeria’s board has decided not to declare a final dividend for the year, a departure from the interim ₦5.60 per share dividend paid in 2023.

Key Financial Indicators:

• Net liabilities per share rose from ₦2.17 in 2023 to ₦21.84 in 2024, reflecting a 908.7% increase.

• Total equity attributable to shareholders plummeted to ₦458 billion in losses, a drastic fall from ₦45.40 billion in 2023.

• Basic and diluted loss per share stood at ₦19.05, up from ₦6.38 in the previous year.

MTN Nigeria attributed its financial struggles to currency devaluation, rising operational costs, and significant foreign exchange losses.

The company renegotiated key infrastructure-sharing and lease agreements with IHS Towers in 2024, aiming to reduce the dollar-indexed components of lease payments and shift towards naira-based pricing.

Additionally, the long-standing USSD debt dispute with Nigerian banks saw a partial resolution, with banks settling ₦32 billion out of the ₦74 billion owed to MTN Nigeria as per a directive from the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC).

To ensure a better 2025, MTN Nigeria is investing heavily in network expansion and digital services, including its MoMo Payment Service Bank and broadband services, to drive future growth.

Analysts believe that exchange rate stability and further regulatory interventions will help boost MTN Nigeria’s ability to recover from this financial downturn.

The post MTN Nigeria Reports ₦400.44Bn Loss in 2024 Despite ₦3.36Trillion Revenue appeared first on Tech | Business | Economy.