MTN Nigeria raises N42.20 billion through successful Series 15 and 16 Commercial Paper Issuance, supporting short-term working capital needs.
MTN Nigeria Communications PLC (MTN Nigeria or the ‘Company’) hereby notifies Nigerian Exchange Limited and the investing public of the successful completion of its Series 15 and 16 Commercial Paper issuance under the Company’s N250 billion Commercial Paper Issuance Programme (the ‘CP Issuance’) where the Company raised N42.20 billion.
The 180-day and 270-day CP were issued at yields of 27.50% and 29.00%, respectively, with an issue date of Monday, 23 December 2024. This follows the successful completion of two prior CP issuances in the last two months. The proceeds will be applied towards the Company’s short-term working capital requirements. MTN Nigeria’s Chief Executive Officer, Karl Toriola, said, “We are grateful for the success of this transaction which underscores investor confidence in MTN Nigeria’s business model and management team.
The CP Issuance is part of our established funding strategy and would not have been possible without the unwavering support of the investor community, as well as our advisers.” Stanbic IBTC Capital Limited acted as the Arranger and Dealer while CardinalStone Partners Limited, Chapel Hill Denham Advisory Limited, Cordros Capital Limited, Coronation Merchant Bank Limited, FCMB Capital Markets Limited, Meristem Capital Limited, Quantum Zenith Capital & Investments Limited, and Vetiva Advisory Services Limited served as Joint Dealers on the transaction.
The US Federal Trade Commission (FTC) raised antitrust concerns over Microsoft’s $13 billion investment in OpenAI, warning the tie-up could provide the tech giant with an unfair advantage in the AI market.
In a wide-ranging report looking into the relationship between cloud providers and AI developers, the regulator also took aim at deals struck by Amazon and Google with AI companies such as Anthropic.
The FTC claimed such deals could lead to big tech companies gaining undue control over AI start-ups, even fully acquiring them in the future. It criticised their “circular spending” practices, where companies like Microsoft require AI start-ups to reinvest funding into their cloud services and products, skewing market power. Microsoft’s funding of OpenAI was largely delivered as credits for its Azure cloud platform.
In the report, it was also revealed that at least one unnamed tech giant received confidential financial information from an AI start-up, including weekly revenue reports and customer updates. Another deal allowed a company to access AI-generated outputs, or “synthetic data,” used to train the tech company’s own AI models.
Concerns were also raised over the potential for such partnerships to result in the monopolisation of AI talent and resources. Additionally, exclusivity rights included in some agreements might discourage AI companies from partnering with multiple cloud providers, further disrupting competition.
In a statement, FTC chair Lina Khan claimed the report uncovers “how partnerships by big tech firms can create lock-in, deprive start-ups of key AI inputs, and reveal sensitive information that can undermine fair competition”.
The European Commission also took a look at the Microsoft OpenAI partnership in 2024. However, it opted not to launch a formal investigation because it found the AI company was not under Microsoft’s direct control.
The introduction of eSIM technology is a significant development underscored by its potential impact on technology adoption, economic growth, and social inclusion in Africa. The technology simplifies user onboarding, potentially increasing the customer base and revenues for operators.
MTN South Sudan has officially launched eSIM technology to the market. The event occurred during the group’s visit to the National Communications Authority (NCA) on January 10, 2025. It marks a step in South Sudan’s telecommunications sector, with a joint press conference featuring MTN South Sudan CEO Monzer Ali and NCA Director General Napoleon Adok.
“Today marks another milestone in South Sudan’s telecommunications journey,” said Monzer Ali. “As MTN, we are proud to be the first operator in the country to launch eSIM technology. This is not just about innovation; it’s about simplifying connectivity and delivering convenience to our customers.”
An eSIM (embedded SIM) is a SIM card built into a device as a software, permanently attached to the smartphone’s motherboard. Unlike traditional SIM cards, it is programmable, enabling users to activate, deactivate, or switch networks digitally. Ideal for travelers, it allows seamless carrier switching or activation of local plans without a physical card while enhancing security and reducing the risk of damage or loss.
With eSIMs embedded directly into devices, the production and distribution of physical SIM cards become unnecessary. This eliminates the need for shipping, allowing telecom operators to reduce logistics and distribution costs.
This aligns directly with MTN’s Ambition 2025, which emphasizes operational efficiency, cost reduction, and sustainability. By adopting eSIM technology, MTN reduces expenses tied to the production, logistics, and distribution of physical SIM cards, streamlining its operations. Additionally, the move supports MTN’s environmental sustainability goals by minimizing waste and reducing the carbon footprint associated with physical SIM card manufacturing and transportation. This dual focus on efficiency and sustainability reinforces MTN’s strategy of delivering value while contributing to a greener planet.
Ghana has emerged as the leading country in the world when it comes to countries with regulatory frameworks that enable widespread mobile money adoption.
This was contained in the 2024 Mobile Money Regulatory Index (MMRI) by the GSMA, which is a global organisation unifying the mobile ecosystem. Ghana beat 89 other countries including the likes of Brazil, Mexico, Rwanda, and Qatar to claim the top spot with a leading Index Score of “95.06” points. The other countries that rounded up the top were Rwanda (95 points), Qatar (94.21 points), Malawi (93.88 points)and El Salvador (93.75 points).
(The top 10 countries. Source: GSMA)
The breakdown
The Mobile Money Regulatory Index (MMRI) which has 6 broad dimensions, is further broken down into 40 indicators which are scored according to relevant criteria assessment. While Ghana scored a perfect 100 points in 3 of the 6 dimensions, including “Transparency and Disclosure Requirements”, “Authorisation” and “Consumer Protection”, it recorded a low figure of 83.75 points under the “PolicyEnablement” dimension due to its poor performance under the “Taxation (0 points)” indicator.
(Source: GSMA)
Impact of the E-Levy
A further interrogation of the data showed that the presence of discriminatory taxation (mobile-specific taxes) imposed on mobile money services in Ghana impacted the score recorded under the “Taxation (0 points)” indicator. The absence of the E-Levy and any other discriminatory taxes on mobile money would have led to Ghana being awarded 100 points which would have seen the country’s world-leading score of 95.06 points rise further.
The Index
According to the GSMA, the Mobile Money Regulatory Index was first developed in 2018 to provide a non-binary and objective assessment of the extent to which regulatory frameworks enable mobile money services to thrive. Until 2021, the index was comprised of 28 indicators clustered in six dimensions, with each indicator scored based on both qualitative and quantitative scoring metrics.
The key regulation issues forecast to be top of mind in 2025 include artificial intelligence, data protection, the digital economy, digital public infrastructure, and competition.
(Source: https://www.menosfios.com/)
As the new year gets underway, technology and its related business environment will be characterized by numerous policy and regulatory discussions around the need to address ongoing and emerging issues, either through revisions to existing frameworks or the formulation of new measures and approaches to market regulation.
With the ongoing evolution of technology and the changing complexion of the marketplace, there is a need to provide an enabling environment in which innovation, consumer and business interests are protected, while at the same time appreciating that such deliberations and resulting actions can never really define any end games for a sector that is constantly in flux.
Some of the key issues that will occupy discussions among policy makers, regulators, civil society and the business community include artificial intelligence (AI), the digital economy, digital public infrastructure (DPI), data protection, and competition.
To a lesser but equally crucial extent, ongoing discussions on improving data protection, social media and cybersecurity frameworks can be expected to continue.
Artificial intelligence
AI regulation was one of the areas of key focus across the continent in 2024.
Two main sides emerged – one was against regulation, reasoning that regulating AI would stifle innovation and slow adoption. The other side looked beyond innovation and adoption and viewing AI through a consumer protection lens, looking at the possible harmful and ethical issues relating to AI.
While there have been huge advances and greater adoption of AI across different sectors – with some already demonstrating tangible benefits – AI has also brought with it unsavory application areas. These include using AI as a tool to enable cybercrime (for financial fraud, phishing and social engineering) as well as in the social and political space with misuse intended to spread falsehoods and misinformation via AI altered text, images or videos.
AI regulation will still be a key focus across the continent in 2025. (Source: Image by DC Studio on Freepik)
Existing laws relating to data protection and privacy, cybersecurity, and misuse of computers and intellectual property, have been useful in the interim as a framework to address some of these areas, but in most cases they are not explicit enough to tackle these problems squarely and with any degree of finality.
At a continental level, AI has been discussed at the Africa Union (AU), where a draft policy was published in 2024, with several countries already making individual pronouncements in the form of sector guidelines.
Looking ahead, the way forward will very likely be paved with soft regulations that take the form of guiding principles to which all stakeholders must adhere, while at the same time continuing to draw on or amend existing regulations.
The steady march by business and consumers into the digital sphere, as well as the need to address the requirements of tech-savvy consumers who require new channels to transact, is bringing about the gradual realization of digital economies, with more and more organizations undergoing digital transformation.
One natural consequence of the shift into virtual spaces is the need to ensure tax collection is not affected; authorities are continuing to explore modalities that allow them visibility over the amount of business that happens online.
This has necessitated different measures to gain visibility over business that happens online. Current measures include the onerous task of conducting audits of business and individuals using different social media platforms like Facebook, Instagram, and TikTok, as well as e-commerce platforms, as well as compelling providers (including telcos, streaming services and platform providers) to add levies to their subscription fees, in order to reduce the administrative load on revenue authorities.
In some cases, sizing up the digital space has involved working with payment gateway operators who have good visibility over such transactions between businesses and consumers.
Broadly speaking, the legal framework on which digital economies can be enabled includes laws, polices and guidelines that touch on taxation, data protection and privacy, intellectual property and social media use.
During 2024, several African countries adopted different approaches to handing the digital economy, and it can be expected that, during 2025, these measures and existing laws will undergo further streamlining, amendment and harmonization.
Digital public infrastructure (DPI)
While DPI is still largely nascent, the push by governments and multilateral development agencies (whose ambitions relate to closing the digital divide and supporting transparency, among other areas) is something that will merit a review of existing laws.
Many have bearing on how DPI can be enabled since DPI inherently raises concerns about data protection, fraud, freedom of information, mobile payment regulation, digital identities and infrastructure sharing.
Thus, it can be expected that discussions on implementing DPI will pick up pace as different stakeholders explore modalities on how this can be leveraged to deliver services to citizens.
Competition
The move by satellite providers in different countries into the connectivity space is being met with some degree of consternation by some local Internet service providers and mobile operators, who mostly claim it makes the playing field uneven for them, with some indicating that such players are not subjected to the same regulatory oversight as local players.
In some cases, local players are the ones who have taken the initiative to strike deals with satellite operators who offer direct to mobile connectivity arrangements that allow them to plug voice and data coverage gaps and reduce their infrastructure spending.
Between 2023 and 2024, players like Starlink gradually increased their footprint across Africa, though it has not been easy sailing in some markets where regulations either require local ownership or the requirement to work with channel partners through whom authorities can gain visibility on operations for the sake of taxation and consumer protection issues.
It should be noted that, at the outset, satellite players were indulged on the premise that they could help address rural coverage.
However, as has been noted in many countries, urban areas have been the focus for the simple reason that affordability is an issue in most rural areas.
As such, most new subscribers are in urban areas, which has unseated that premise about closing the rural digital divide.
Between 2023 and 2024, Starlink gradually increased its footprint across Africa but also faced challenges. (Source: Starlink)
In 2025, it can be expected that regulators will move to respond to concerns by local players, by introducing new licenses as well as ensuring such players are compliant with pricing guidelines set out.
It can also be expected that discussions by the International Telecommunications Union (ITU) on spectrum, rural connectivity, etc. may have some bearing on how these players operate.
Data protection
In 2024, only 36 out of 54 African countries had enacted data protection laws.
At a continental level, despite the Malabo Convention (on cybersecurity and data protection) being adopted more than a decade ago, when it came into force on June 8, 2023, only 15 AU countries had ratified it, limiting its continental credibility. This itself hampers efforts at harmonizing data protection laws as well as limiting collaboration on cybersecurity.
Data protection concerns keep morphing and will remain on the horizon for quite a while.
Ongoing digital transformation, including by government entities, coupled with new business channels, mobile applications, and know-your-customer (KYC) principles by financial institutions are among other areas that will keep data protection in focus.
It can be expected that this convention will be reprised at the AU during 2025 as individual countries continue to address data protection.
Spectrum costs
It should be expected that spectrum costs will be among the areas up for discussions, in some cases based on lessons learned from 5G spectrum auctions for which many operators have yet to realize returns on investments.
Therefore, pricing at auctions may require a review based on market realities and the potential exploitation of spectrum for different applications.
The spectrum gravy train may not have dried up yet, but it has certainly slowed down.
Cybersecurity
Just like data protection, cybersecurity is a constant feature in the ICT landscape in Africa.
With more and more cyberattacks registered in 2024, a good part of discussions on policy and regulation will invariably feature cybersecurity in 2025 because the risks are not bound by borders and threat actors can be either in African countries or outside of them.
The need to enable collaboration across the continent and globally will underpin discussions on cybersecurity in 2025.
Apple reportedly stopped notifications of summaries from news and entertainment apps offered as part of its iOS 18.3 developer beta release after some instances of mischaracterisation.
9to5Mac reported the Apple Intelligence-powered news and entertainment notifications would be resumed once the vendor updates its software.
Apple is reportedly also making it clear the notifications are a beta and could contain errors.
9to5Mac noted Apple would allow users to disable notification summaries from the Lock Screen or notification centre in iOS 18.3.
Apple also intends to italicise the summaries to differentiate them from standard notifications.
The Guardian reported BBC News filed a formal complaint with Apple in December 2024 after the notification feature inaccurately summarised various of its stories.
Operator 3 UK agreed a deal with Ericsson for the vendor to deliver a next-generation cloud-native packet core network which it believes will be the largest in Europe, as it bids to respond to huge recent increases in data usage.
The UK telecoms company stated the core network would be powered by Ericsson’s dual-mode 5G product and run on its cloud native infrastructure.
It will sit on 3’s nationwide distributed data centre offering, which “brings its core network closer to customers”.
The operator is embroiled in a process to merge with local rival Vodafone UK, with the deal expected to complete at some point in the first half of this year.
Tsunami 3 stated data usage “exploded” in recent years, surpassing 2Tb/s in December 2024 due to streaming of Premier League football and gaming updates.
Interestingly, it revealed the feat comes around two years after its network hit 1Tb/s for the first time, a milestone which took two decades to reach.
Aside from coping with data demand, Ericsson said its core network capabilities will help 3 scale capacity growth to support future needs; enhance stability with less downtime; offer greater network insights; provide in-service software upgrades; and enhance environmental performance.
The infrastructure and core network are already installed in 3 UK’s data centres and will be partially operational by the end of the year, with careful migration of all traffic over the next few years.
Iain Milligan, chief network officer at 3, said the last few years had seen a tsunami of data growth, with traffic at peak times doubling in a little over two years.
“Our new core network with Ericsson ensures we are able to support our customers’ data usage over the medium and long-term.”
Gartner forecast mobile app usage would decline by 25 per cent by 2027 due to increased use of AI-powered assistants.
The research company stated smartphone users will increasingly turn to AI assistants provided by Apple, OpenAI, Google, Meta Platforms and others.
Gartner explained apps would “be consolidated across separate brands and companies, creating mobile app partnerships or consortiums to reach more users per app at scale and defray the cost of creation and maintenance”.
Emily Weiss, senior principal for Gartner, stated marketers need to start planning for the impact of decreased mobile app usage.
She explained “the loss of app users will also result in the loss of first-party data collection and the ability to reach fewer users via mobile push notifications”.
By 2026, Gartner estimates more than 33 per cent of web content will be created for the purposes of generative AI-powered searches.
In Gartner’s 2024 CMO Spend Survey showed a typical executive allocates almost 25 per cent of their digital marketing budget to search.
Gartner noted search currently drives more traffic to an average commercial enterprise website than any other referral source.
“Given this, a loss of search-driven traffic due to algorithmic shifts by major search engines would result in tangible, negative commercial impact to any organisation”.
Weiss said companies must seek staff “with a strong understanding of how genAI and broader AI influences impacts the performance of their content in search algorithms”.
Apple reportedly stopped notifications of summaries from news and entertainment apps offered as part of its iOS 18.3 developer beta release after some instances of mischaracterization.
9to5Mac reported the Apple Intelligence-powered news and entertainment notifications would be resumed once the vendor updates its software.
Apple is reportedly also making it clear the notifications are a beta and could contain errors.
9to5Mac noted Apple would allow users to disable notification summaries from the Lock Screen or notification centre in iOS 18.3.
Apple also intends to italicize the summaries to differentiate them from standard notifications.
The Guardian reported BBC News filed a formal complaint with Apple in December 2024 after the notification feature inaccurately summarized various of its stories.
Samuel Hanson Hagan, product/programs manager and member of the Institute of ICT Professionals Ghana (IIPGH), has highlighted the transformative potential of private wireless networks (PWNs) in Ghana.
In a detailed statement, he outlined how PWNs offer organisations secure, reliable, and high-performance connectivity compared to public networks and the opportunities they present for Mobile Network Operators (MNOs) to diversify services and generate new revenue streams.
With the recent introduction of 5G technology and a new government keen on digital transformation, Hagan sees an opportune moment for policymakers and regulators, particularly the National Communications Authority (NCA), to drive the adoption of PWNs and foster innovation in the telecommunications sector.
The deployment of 5G networks in Ghana marks a milestone in the country’s digital journey. With ultra-low latency, high data transfer rates, and the capacity to connect massive numbers of devices simultaneously, 5G is perfectly suited for powering PWNs.
Hagan pointed out that the coexistence of 5G and Long Term Evolution (LTE) networks offers flexibility. While LTE can handle less data-intensive applications, 5G can drive critical operations that require high-speed and low-latency connectivity, opening doors to advanced solutions for enterprises across industries.
Though Wi-Fi remains popular, PWNs provide unmatched advantages:
Enhanced Security: PWNs utilize SIM-based authentication and licensed spectrum, reducing vulnerabilities linked to Wi-Fi’s shared, unlicensed spectrum.
Superior Performance: Dedicated bandwidth ensures consistent connectivity even in dense environments. Wide Coverage: PWNs require fewer access points for expansive facilities like airports, ports, and industrial complexes. Scalability: PWNs can adapt to growing organisational demands without compromising performance. These benefits make PWNs an attractive option for businesses aiming for operational efficiency and robust data security.
Hagan emphasised the critical role of spectrum allocation in deploying PWNs. In Ghana, a collaborative approach between MNOs and the NCA could enable spectrum leasing or shared models to facilitate efficient private network deployment. Smaller Internet Service Providers (ISPs) can also partner with MNOs to develop cost-effective and scalable PWN solutions for niche enterprise markets.
PWNs have broad applications across various sectors:
Aviation: Real-time baggage and cargo tracking at airports like Kotoka International Airport. Healthcare: Secure connectivity for telemedicine, patient monitoring, and advanced diagnostics. Manufacturing: IoT-enabled production lines and autonomous robotics for optimised productivity. Agriculture: Precision farming powered by IoT sensors for soil health, irrigation, and crop monitoring. Logistics: Real-time shipment tracking and efficient fleet management. Government and Public Safety: Disaster response, smart city infrastructure, and national security networks. For organisations hesitant about managing PWNs internally, managed services offer a solution. MNOs or specialised providers can handle network design, deployment, monitoring, and upgrades.
This approach reduces operational complexity and costs while ensuring optimal performance.
Managed services also create job opportunities in Ghana, particularly in network engineering and technical support, contributing to economic growth.
Global technology vendors are already paving the way for PWN adoption:
Nokia: Offers the Nokia Digital Automation Cloud for industrial-grade connectivity. Ericsson: Provides the Ericsson Private 5G solution for manufacturing and automation. Hewlett Packard Enterprise (HPE): Deploys the HPE Aruba AirSlice for seamless enterprise IT integration. Cisco: Supplies ultra-reliable wireless backhaul and private 5G solutions for critical operations. For MNOs, PWNs open lucrative revenue streams. Beyond leasing spectrum, MNOs can sell private SIM cards, devices, and tailored solutions to enterprise clients. Partnerships with smaller ISPs further expand market reach, while value-added services like analytics and maintenance strengthen client relationships.
Adopting PWNs also supports Ghana’s broader digital agenda, driving economic growth through enhanced connectivity, improved governance, and increased competitiveness across sectors.
Samuel Hanson Hagan’s vision for PWNs underscores their potential to revolutionise industries and position Ghana as a leader in digital transformation. With collaborative policies, innovative spectrum allocation, and strategic partnerships, the adoption of PWNs can unlock new opportunities for MNOs, enterprises, and the nation as a whole.
As demand for tailored connectivity solutions grows, now is the time for Ghana’s telecommunications sector to embrace the future of PWNs and accelerate the country’s journey toward a digitally empowered economy.
