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Airtel Money IPO Returns as Fintech Business Targets $10 Billion London Listing

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Airtel Money IPO Returns as Fintech Business Targets $10 Billion London Listing

Airtel Money IPO Returns as Fintech Business Targets $10 Billion London Listing

Airtel Money IPO plans are back on track, with Airtel Africa preparing to list its fast-growing mobile money business on the London Stock Exchange. Reports suggest the fintech unit could be valued at around $10 billion, while the initial public offering (IPO) is expected to raise approximately $1.5 billion if it goes ahead.

The renewed listing plans come after months of delays and reflect the rapid growth of Airtel Money, which has become one of Africa’s largest digital financial services platforms.

Airtel Money IPO Shifts Focus to London

Airtel Africa had originally planned to list Airtel Money by 2025, but later postponed the IPO to 2026, citing difficult market conditions.

New reports indicate that geopolitical tensions in the Middle East also influenced the timing of the offering and the decision to favour London over other potential stock exchanges.

Investment bank Citigroup is leading the syndicate for the proposed listing, while Airtel Africa has reportedly appointed additional investment banks as preparations continue.

If completed at the expected valuation, the Airtel Money IPO would become one of London’s largest public listings in recent years and one of the biggest fintech listings ever to emerge from Africa.

Why London Was Chosen

London remains one of the world’s leading financial centres, offering access to a large pool of international institutional investors and deeper capital markets than many other exchanges.

For Airtel Africa, whose operations span 14 African countries, listing in London could provide greater access to global investment while allowing Airtel Money to be valued independently from the company’s telecommunications business.

The move is also expected to give investors a clearer picture of the fintech business’s performance and long-term growth potential.

Airtel Money Has Become a Major Growth Business

The Airtel Money IPO reflects the remarkable growth of the company’s financial services business over the past few years.

Originally launched as a value-added mobile service, Airtel Money has grown into one of Airtel Africa’s strongest revenue generators.

The platform now serves more than 54 million customers across Africa and generated approximately $1.35 billion in revenue during the company’s latest financial year.

Earlier financial results also showed annualised transaction values exceeding $210 billion, highlighting the scale of payments processed through the platform.

Unlike traditional telecom services, which depend heavily on network infrastructure investments, Airtel Money earns revenue from digital payments, money transfers, merchant services, and other financial products, making fintech one of Airtel Africa’s fastest-growing business segments.

Strong Telecom Network Supports Fintech Growth

Airtel Africa currently serves nearly 180 million mobile subscribers across its markets, giving Airtel Money direct access to one of the continent’s largest mobile customer bases.

This extensive customer network continues to support the expansion of its digital financial services.

In Kenya, Airtel continues to grow both its mobile subscriber base and Airtel Money customers, although Safaricomremains the country’s leading mobile network and mobile money provider.

Even so, Kenya remains strategically important because it is one of Africa’s most advanced digital payments markets, providing Airtel with an opportunity to test and introduce new financial products.

IPO Signals Confidence in Africa’s Fintech Industry

Beyond raising fresh capital, the Airtel Money IPO highlights the growing importance of mobile money as a standalone business.

It also reflects increasing investor confidence in Africa’s digital payments industry, where fintech platforms are becoming valuable businesses in their own right rather than simply supporting telecommunications operations.

The proposed listing would further strengthen Airtel Money’s position as one of Africa’s leading fintech companies while providing additional funding to support future expansion across the continent.

Google Academic Research Awards 2026 Opens Applications for Quantum Computing Research

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Google Academic Research Awards 2026 Opens Applications for Quantum Computing Research

Google Academic Research Awards 2026 Opens Applications for Quantum Computing Research

Google Academic Research Awards 2026 is now accepting applications from university researchers working in technology and computing. This year’s funding programme focuses on quantum computing, with Google inviting proposals that support both foundational and applied research in the field. Applications will remain open until August 7, 2026.

The programme is part of Google’s global effort to support innovative academic research that can advance technology and address complex scientific challenges.

Research Areas for Google Academic Research Awards 2026

For the 2026 funding cycle, Google is seeking research proposals in two key areas:

  • Early Fault-Tolerant Quantum Algorithms and Applications
  • Quantum Computing Security

The company is looking for projects that can contribute to the future of quantum computing while supporting responsible innovation and scientific advancement.

Who Can Apply?

The Google Academic Research Awards 2026 is open to:

  • Professors at degree-granting academic institutions, including assistant, associate, and full professors.
  • Academic researchers who supervise students and actively conduct research in technology or computing.
  • Faculty members engaged in research that aligns with Google’s areas of interest.

Applicants must currently be advising students while carrying out research in computing or related technology fields.

How Applications Will Be Evaluated

Google will only assess complete applications that meet all eligibility and submission requirements.

Eligible proposals must:

  • Be submitted by qualified academic researchers.
  • Focus on one or more approved computing or technology research areas.
  • Follow Google’s required formatting guidelines.

Applications will be evaluated based on several factors, including:

  • Faculty merit: The applicant’s research achievements, community involvement, and contributions to open-source projects.
  • Research merit: The originality of the proposed research, its alignment with Google Research priorities, and its potential impact.
  • Proposal quality: A well-structured, clear, and practical research plan that demonstrates the team’s ability to deliver meaningful results.
  • Alignment with Google’s AI Principles: Research should reflect responsible and ethical innovation.

Application Timeline

Applicants should take note of the following dates:

  • Application Deadline: August 7, 2026
  • Notification of Results: October 30, 2026

How to Apply

Interested researchers can submit their proposals through the official Google Academic Research Awards application portal. Applicants are encouraged to carefully review the eligibility requirements, proposal guidelines, and submission instructions before applying.

Jumia Digital Trade Africa: CEO Calls for Payment Harmonisation and Stronger Policies

Habeeb Ajala
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Jumia Digital Trade Africa: CEO Calls for Payment Harmonisation and Stronger Policies

Jumia Digital Trade Africa: CEO Calls for Payment Harmonisation and Stronger Policies

Jumia digital trade Africa took centre stage at the AfCFTA Digital Trade Forum 2026, where Jumia Nigeria called for harmonised payment systems, stronger consumer protection, and supportive government policies to unlock the full potential of digital commerce across the continent.

Speaking during a panel session, Jumia Nigeria Chief Executive Officer Temidayo Ojo said the company’s experience has shown that building consumer trust is the most important factor in expanding e-commerce adoption and strengthening Africa’s digital economy.

Jumia Says Consumer Trust Drives E-Commerce Growth

Ojo explained that Jumia’s growth in Nigeria reflects the increasing acceptance of online shopping, supported by continuous investment in technology, logistics, and customer experience.

According to him, millions of Nigerians now shop online, but there is still significant room to attract more consumers by improving trust in digital commerce.

He noted that many first-time online shoppers remain cautious because they cannot physically inspect products before buying them. To address this challenge, Jumia has invested in reliable delivery services, transparent order tracking, quality assurance, and responsive customer support to build long-term confidence among shoppers.

“Trust is the currency of digital commerce,” Ojo said, adding that stronger consumer protection laws across Africa would encourage more people to embrace online shopping by providing greater confidence when dealing with payment disputes, delayed deliveries, or product quality issues.

Jumia Digital Trade Africa Needs Better Payment Systems

Ojo identified fragmented payment systems as one of the biggest barriers to cross-border digital trade in Africa.

Although the continent has experienced rapid fintech innovation, different regulations and limited payment interoperability continue to make transactions between African countries more difficult than necessary.

He called for greater harmonisation of payment frameworks across the continent, saying seamless digital payments would allow businesses to expand into new African markets more easily while enabling consumers to make cross-border purchases without unnecessary obstacles.

According to Ojo, improving payment interoperability is essential to achieving the goals of the African Continental Free Trade Area (AfCFTA) and creating a truly integrated digital marketplace.

Public and Private Sectors Must Work Together

Beyond payment systems, Ojo stressed the need for closer collaboration between governments and private businesses to create a stronger environment for digital commerce.

He said consistent policies, regulatory certainty, and supportive business frameworks would encourage investment, promote innovation, and strengthen confidence in Africa’s growing digital economy.

As one of the continent’s largest e-commerce platforms, Jumia believes regional integration presents significant opportunities for businesses of all sizes.

The company currently connects tens of thousands of merchants with customers across multiple African countries and believes improved cross-border trade policies would allow many more local businesses to reach new markets beyond their home countries.

Regional Integration Could Unlock New Growth

Ojo said greater regional cooperation could open access to a consumer market of more than 500 million people, creating new opportunities for African businesses to trade with customers across the continent.

He also observed that many first-time customers initially choose cash-on-delivery because they have concerns about online payments. However, after experiencing reliable deliveries, quality products, and good customer service, many gradually become more comfortable using digital payment methods.

According to Ojo, Jumia’s journey reflects the broader development of Nigeria’s e-commerce sector, driven by sustained investments in technology, logistics, customer trust, and local partnerships.

He concluded that with stronger consumer protection, harmonised payment regulations, and deeper collaboration between governments and the private sector, Africa is well positioned to accelerate the next phase of digital commerce growth.

PayPal Stripe Takeover Bid Tops $53 Billion as Africa Expansion Faces New Chapter

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PayPal Stripe Takeover Bid Tops $53 Billion as Africa Expansion Faces New Chapter

PayPal Stripe Takeover Bid Tops $53 Billion as Africa Expansion Faces New Chapter

PayPal Stripe takeover bid has become one of the biggest stories in the global fintech industry after payments company Stripe and private equity firm Advent International reportedly offered more than $53 billion to acquire PayPal. The proposed deal comes only months after PayPal announced a $100 million investment strategy to expand its presence across Africa and the Middle East.

According to Reuters, the offer values PayPal at $60.50 per share, representing a 28% premium over the company’s previous closing price. News of the proposal pushed PayPal’s shares up by about 18%.

PayPal Stripe Takeover Bid Backed by $50 Billion in Financing

Reuters reported that Stripe and Advent International have secured around $50 billion in committed bank financing to support the acquisition.

The report said the latest proposal follows an initial approach made in April, although discussions remain private. Stripe, Advent International, and PayPal have all declined to comment on the reported negotiations.

If completed, the PayPal Stripe takeover bid would rank among the largest fintech acquisitions in history and could significantly reshape the global digital payments industry.

Africa Expansion Could Come Under Stripe’s Control

The reported takeover comes at a time when PayPal has been increasing its investment across Africa.

Earlier this year, the company partnered with Nigerian fintech Paga to allow eligible users to receive international payments, hold U.S. dollar balances, and withdraw funds in naira. The partnership forms part of PayPal World, an initiative designed to connect PayPal’s global payments network with local digital wallets.

The move also builds on PayPal’s broader $100 million Middle East and Africa strategy, announced in September 2025. The investment programme supports minority investments, acquisitions, technology deployments, PayPal Ventures funding, and strategic partnerships across the region.

If the acquisition goes ahead, these expansion plans would become part of Stripe’s growing African business.

Why the Deal Matters for Africa

Africa has become an increasingly important market for global payment companies.

Stripe strengthened its position on the continent through its 2020 acquisition of Nigerian fintech Paystack, one of Africa’s biggest startup exits. Since then, the company has expanded its payment services across Nigeria, South Africa, Kenya, Ghana, and Côte d’Ivoire.

A successful merger would combine Stripe’s merchant payment infrastructure with PayPal’s global consumer payment network. Industry observers believe this could improve cross-border payment services for African businesses selling goods and services to customers around the world.

The transaction would also unite two companies that have recently increased their investments in Africa—Stripe through payment infrastructure and PayPal through digital wallet partnerships and local fintech collaborations.

Regulatory Approval Still Required

Although the reported bid has generated significant attention, the deal is far from complete.

Reuters noted that negotiations are still ongoing, and there is no guarantee that PayPal’s board will accept the offer. Any agreement would also require approval from regulators before it can be finalised.

If approved, however, the PayPal Stripe takeover bid could reshape not only the global payments industry but also the future of PayPal’s Africa expansion strategy, which was announced only months before the company became the target of one of the largest takeover bids in fintech history.

Rwanda eKash Retail Payments: Country Completes National Payment Migration

Habeeb Ajala
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Rwanda eKash Retail Payments: Country Completes National Payment Migration

Rwanda eKash Retail Payments: Country Completes National Payment Migration

Rwanda eKash retail payments have entered a new phase after the country completed the migration of all domestic interoperable retail payment transactions to eKash, Rwanda’s national digital payment platform. The move is expected to improve interoperability between banks and mobile money providers while supporting the country’s push toward a more connected digital economy.

The migration, completed on 14 July, means that transfers between banks and electronic money issuers are now processed through a single national payment system operated by RSwitch.

Rwanda eKash Retail Payments Now Run on One National Platform

According to RSwitch, all interoperable retail payment transactions are now routed through the eKash platform.

These transactions include:

Account-to-account transfers

Account-to-wallet transfers

Wallet-to-account transfers

Wallet-to-wallet transfers

The migration follows a directive issued by the National Bank of Rwanda in January 2026, requiring domestic interoperable retail payments to be processed through one national platform.

The central bank believes the initiative will strengthen payment interoperability and improve the efficiency of digital financial services across the country.

Migration Supports Rwanda’s Digital Payments Strategy

Rwanda has invested significantly in modernising its national payments infrastructure as part of efforts to expand digital financial services, promote financial inclusion, and reduce the use of cash.

The National Bank of Rwanda has identified interoperable payment systems as a key driver of a more integrated and inclusive digital economy.

With the migration complete, customers using banks or electronic money issuers can transfer funds seamlessly between bank accounts and mobile wallets through the same payment infrastructure.

Transaction Limits and Charges

RSwitch said financial institutions will charge a maximum fee of RWF20 (about US$0.014) for each transaction processed through eKash.

The platform supports transactions of up to RWF10 million (about US$6,782) per transfer.

However, participating banks and electronic money providers may set lower transaction or daily limits based on their own internal policies.

Customers can continue using their existing digital channels, including:

Mobile banking applications

Internet banking platforms

Mobile money services provided by participating institutions

RSwitch Reaffirms Commitment to Secure Payments

RSwitch said it remains committed to providing a secure, reliable, and interoperable payment infrastructure that allows users to send, receive, and make payments confidently across different financial institutions.

Established in 2003, RSwitch serves as Rwanda’s national electronic payments switch and is responsible for enabling interoperability and electronic payment settlement throughout the country’s financial sector.

The successful rollout of Rwanda eKash retail payments marks another important milestone in the country’s digital transformation, creating a more efficient payment ecosystem for consumers, businesses, and financial institutions.

GETESA Huawei Partnership to Upgrade Equatorial Guinea’s Telecom Network

Habeeb Ajala
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GETESA Huawei Partnership to Upgrade Equatorial Guinea’s Telecom Network

GETESA Huawei Partnership to Upgrade Equatorial Guinea’s Telecom Network

GETESA Huawei partnership is set to strengthen Equatorial Guinea’s telecommunications sector after the state-owned telecom operator signed a new agreement with Huawei to modernise the country’s network infrastructure. The partnership aims to improve connectivity, deliver better voice and data services, and support Equatorial Guinea’s digital transformation agenda.

The agreement was signed on July 9 during a ceremony at the State Headquarters in Malabo, led by Vice President Teodoro Nguema Obiang Mangue. Senior government officials, including the Administrative Coordination Officer, also attended the event.

GETESA Huawei Partnership Marks a New Phase for the Telecom Operator

According to the Equatorial Guinea government, the GETESA Huawei partnership marks the beginning of a new chapter for the country’s state-owned telecommunications company.

Over the next six months, GETESA and Huawei will work together on a comprehensive programme to optimise the national telecommunications network. The project is expected to improve the quality, speed, and reliability of voice and data services for individuals, businesses, and public institutions.

Government officials described the agreement as a strategic alliance that will help strengthen the country’s digital infrastructure and meet growing demand for reliable connectivity.

Network Upgrade to Improve Voice and Data Services

The first phase of the project will focus on upgrading existing telecommunications infrastructure across the country.

Key areas of improvement include:

Expanding network capacity

Increasing data transmission speeds

Improving communication stability

Enhancing voice and data service quality

Modernising existing telecom infrastructure

These upgrades are expected to provide more reliable telecommunications services nationwide.

Project Aims to Expand Reliable Connectivity

The government said the upgraded network will benefit families, students, businesses, and public institutions by providing faster and more stable communications regardless of location.

Improved connectivity is also expected to support education, business operations, public services, and digital access across both urban and rural communities.

Digital Transformation Supports Economic Growth

Government officials described digital transformation as an important part of Equatorial Guinea’s economic diversification strategy.

They noted that stronger telecommunications infrastructure can help create jobs, encourage business growth, attract investment, and promote innovation across different sectors of the economy.

The GETESA Huawei partnership is expected to contribute to these goals by building a modern, secure, and intelligent telecom network capable of supporting the country’s long-term digital development.

As demand for digital services continues to grow, the partnership is positioned to strengthen Equatorial Guinea’s connectivity while laying the foundation for future technological and economic progress.

Ethio Telecom Huawei Partnership to Drive Digital Transformation for Businesses

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Ethio Telecom Huawei Partnership to Drive Digital Transformation for Businesses

Ethio Telecom Huawei Partnership to Drive Digital Transformation for Businesses

Ethio Telecom Huawei partnership is set to accelerate digital transformation in Ethiopia after the two companies announced plans to strengthen their long-standing collaboration. The partnership will focus on helping enterprises and small and medium-sized enterprises (SMEs) adopt advanced digital technologies that improve business operations, productivity, and competitiveness.

The commitment was reaffirmed during high-level talks between Ethio Telecom Chief Executive Officer Frehiwot Tamru, Huawei Northern Africa President Li Shen, and senior executives from both organisations.

Ethio Telecom Huawei Partnership Targets Enterprise and SME Growth

During the meeting, the two companies discussed expanding digital solutions tailored to businesses across different sectors of Ethiopia’s economy.

The planned solutions will make use of technologies such as:

Artificial intelligence (AI), Cloud computing, Cybersecurity, Internet of Things (IoT), Advanced connectivity, Data centre services, Digital platforms

These technologies are expected to help businesses improve efficiency, strengthen operations, and support long-term digital transformation.

Telebirr to Support Digital Business Services

A key part of the Ethio Telecom Huawei partnership is the expansion of digital services through telebirr, Ethio Telecom’s mobile financial platform.

The companies plan to integrate more business solutions into the platform, giving enterprise and SME customers access to:

Digital payment services

Financial solutions

E-commerce tools

Business management applications

Other value-added digital services

The initiative aims to make it easier for businesses to manage operations while improving access to digital financial services.

Focus on Local Innovation and Technical Expertise

Ethio Telecom and Huawei also agreed to strengthen Ethiopia’s local technology ecosystem.

Their collaboration will include greater investment in:

Software development, Solution customisation, System integration, Technical support, Engineering skills development, Research and development (R&D)

Both companies said these investments will help create digital solutions that address Ethiopia’s specific business and economic needs.

Improving Access to Smartphones and Digital Devices

The discussions also covered ways to make smartphones and other digital devices more affordable.

The companies plan to explore innovative financing options and broader market initiatives that can increase access to digital technologies for businesses and individuals across Ethiopia.

Greater access to devices is expected to support wider adoption of digital services and accelerate the country’s digital economy.

Partnership Supports Ethiopia’s Digital Future

Beyond enterprise services, the Ethio Telecom Huawei partnership will also promote digital inclusion through initiatives focused on:

Digital literacy, Rural connectivity, Digital education, Community empowerment, Sustainable digital infrastructure

Huawei reaffirmed its commitment to supporting Ethio Telecom’s transformation into a technology-driven digital services company.

The company said it will continue working with Ethio Telecom to expand enterprise innovation, empower SMEs, strengthen Ethiopia’s digital ecosystem, and develop solutions that support both national digital growth and future regional expansion.

Flutterwave Xoom Transfers Nigeria: Partnership Speeds Up International Remittances

Habeeb Ajala
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Flutterwave Xoom Transfers Nigeria: Partnership Speeds Up International Remittances

Flutterwave Xoom Transfers Nigeria: Partnership Speeds Up International Remittances

Flutterwave Xoom transfers Nigeria are set to make receiving money from abroad faster and easier following a new partnership between Flutterwave and Xoom, PayPal’s international digital money transfer service. The collaboration allows people around the world to send money directly to Nigerian bank accounts, with funds settled locally in naira.

The partnership combines Xoom’s global money transfer network with Flutterwave’s local payment infrastructure, helping to simplify cross-border remittances into one of Africa’s largest payments markets.

Flutterwave Xoom Transfers Nigeria Improve Cross-Border Payments

Under the new arrangement, Xoom customers can send money from nearly 160 markets worldwide to recipients in Nigeria.

Flutterwave processes the incoming transfers, converts the funds into naira where required, and settles them directly into local bank accounts.

Recipients can receive money through major Nigerian banks, including:

  • Access Bank
  • United Bank for Africa (UBA)
  • Zenith Bank
  • First Bank of Nigeria
  • Guaranty Trust Bank (GTBank)
  • Other participating financial institutions

The integration is designed to provide quicker, more reliable access to international funds while reducing settlement delays.

Partnership Targets Nigeria’s Large Remittance Market

Nigeria remains one of the largest recipients of remittances in Sub-Saharan Africa.

According to Flutterwave, the country received more than $20 billion in personal remittances during 2024. These inflows play an important role in supporting households, small businesses, freelancers, and the wider economy.

However, cross-border payments have often faced challenges such as foreign exchange constraints and lengthy settlement processes.

Flutterwave said the partnership aims to overcome these issues by combining Xoom’s international reach with its own local banking relationships and compliance capabilities.

Supporting Families, Freelancers, and Businesses

Commenting on the partnership, Olugbenga Agboola, Founder and Chief Executive Officer of Flutterwave, said millions of Nigerians depend on money sent from overseas.

He noted that the service will support families receiving financial assistance, freelancers earning income from international clients, and individuals participating in the global digital economy.

According to Agboola, the partnership will make receiving money from abroad more reliable while helping Nigerians stay connected to opportunities beyond the country’s borders.

Flutterwave Expands Its Cross-Border Payment Network

The agreement strengthens Flutterwave’s position in Africa’s cross-border payments market.

By integrating with Xoom, which operates as part of PayPal’s global payments ecosystem, Flutterwave is expanding access to international money transfers while improving payment options for users in Nigeria.

The partnership also reflects growing demand for faster, secure, and more efficient remittance services as digital payments continue to reshape financial services across Africa.

Telecom Rally Adds N5.67tn to MTN, Airtel on Earnings Optimism

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Telecom Rally Adds N5.67tn to MTN, Airtel on Earnings Optimism

Telecom Rally Adds N5.67tn to MTN, Airtel on Earnings Optimism

Telecom rally adds N5.67tn to the combined market value of MTN Nigeria Plc and Airtel Africa Plc within the first 10 trading days of the second half of 2026. The strong performance came despite a broader market sell-off on the Nigerian Exchange (NGX), reflecting growing investor confidence in the telecommunications sector.

Investors are betting on stronger earnings after the Nigerian Communications Commission (NCC) approved a 50% tariff adjustment earlier this year. Strong first-quarter financial results from both telecom operators also helped fuel the rally.

Telecom Rally Adds N5.67tn Despite Broader Market Weakness

According to an analysis by THE WHISTLER, the combined market capitalisation of MTN Nigeria and Airtel Africa increased from ₦34.04 trillion on July 1 to ₦39.71 trillion on July 10.

The gain of ₦5.67 trillion, representing about 16.7%, came as investors sold shares in several banking, consumer goods, and industrial companies following months of strong market gains.

Airtel Africa Leads the Market Rally

Airtel Africa recorded the biggest increase during the period.

Its share price climbed from ₦4,794 to ₦5,801.40, pushing its market capitalisation from ₦18.02 trillion to ₦21.80 trillion.

The increase added approximately ₦3.78 trillion, representing a 21% gain in just 10 trading sessions.

MTN Nigeria Extends Strong Recovery

MTN Nigeria also delivered impressive growth.

Its share price rose from ₦720 to ₦810, increasing the company’s market value from ₦15.12 trillion to ₦17.01 trillion.

This added ₦1.89 trillion, representing a 12.5% increase over the same period.

NCC Tariff Increase Boosts Investor Confidence

Market analysts believe the rally reflects renewed optimism following the NCC’s approval of a 50% tariff adjustment, the first major telecom pricing review in several years.

The regulator approved the increase to help operators manage rising operating costs, improve service quality, and support continued investment in network infrastructure.

Investors also expect the higher tariffs to improve profit margins over the coming quarters after years of pressure from foreign exchange losses, inflation, and regulated pricing.

MTN Nigeria Reports Strong Earnings Growth

MTN Nigeria posted one of its strongest quarterly performances in recent years.

The company reported a profit after tax of ₦355.5 billion for the first quarter of 2026, more than double the ₦133.7 billion recorded during the same period in 2025.

Service revenue increased 41.8% year-on-year to ₦1.49 trillion, while total revenue reached ₦1.50 trillion.

Data and Fintech Drive MTN’s Growth

Data services remained MTN’s biggest growth driver.

Data revenue jumped 56.2% to ₦827.2 billion, accounting for more than half of total service revenue.

The company ended the quarter with 55 million active data subscribers, while average monthly data usage increased to 14.3GB per customer. Smartphone penetration also rose to 66.2%.

Voice revenue grew 22.5% to ₦499.1 billion, helping MTN expand its total subscriber base to 89.5 million after adding 2.3 million new customers.

Its fintech business also performed strongly.

Revenue from digital financial services increased 77.9% to ₦64.2 billion, although regulatory changes temporarily affected its Xtratime lending service.

To strengthen the business, MTN Group Fintech Holdings B.V. plans to inject ₦152.1 billion into MTN’s fintech operations. Under the proposed restructuring, the parent company will own 60% of MoMo Payment Service Bank and Y’ello Digital Financial Services, while MTN Nigeria will retain a 40% stake.

The company also reported EBITDA of ₦828.3 billion, up 68.1%, with its EBITDA margin improving to 55.3%.

Meanwhile, free cash flow increased 55.6% to ₦326.5 billion, despite capital expenditure nearly doubling to ₦390.3 billion as MTN expanded its network infrastructure.

Chief Executive Officer Karl Toriola said the company maintained strong commercial momentum through disciplined cost management and continued investment in network capacity.

Airtel Africa Posts Record Financial Performance

Airtel Africa also reported record earnings for the financial year ended March 31, 2026.

The telecom group generated $6.42 billion in revenue, representing 29.5% growth in reported currency and 24% growth in constant currency.

Nigeria remained the company’s fastest-growing market, with revenue increasing 47.5% in constant currency.

Data Services Become Airtel’s Largest Business

Data services overtook voice revenue as Airtel Africa’s biggest source of income.

Data revenue grew 35.2%, supported by rising smartphone adoption and increased internet usage.

The company’s subscriber base expanded 10.5% to 183.5 million, while data customers rose 14.8% to 84.2 million.

Smartphone penetration increased to 49.5%, and average monthly data consumption reached 8.9GB per customer.

Chief Executive Officer Sunil Taldar said the company’s strong performance reflects growing demand for digital services and continued investment in network infrastructure.

Telecom Stocks Regain Investor Attention

The telecom rally adds N5.67tn to the value of Nigeria’s two largest listed telecom companies and signals renewed investor confidence in the sector.

With stronger earnings, rising data consumption, expanding fintech services, and improved pricing following the NCC’s tariff adjustment, analysts expect telecom stocks to remain among the best-performing sectors on the Nigerian Exchange in the coming months.

Gabon Tier III Data Center Strengthens Digital Sovereignty

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Gabon Tier III Data Center Strengthens Digital Sovereignty

Gabon Tier III Data Center Strengthens Digital Sovereignty

Gabon Tier III data center has officially opened, marking a major milestone in the country’s digital transformation efforts. The new facility is Gabon’s first international-standard Tier III data center and is expected to strengthen data sovereignty by allowing government institutions and businesses to store critical information within the country instead of relying on foreign infrastructure.

The facility was developed by ST Digital Gabon and is designed to deliver high levels of reliability, security, and availability for data hosting.

Gabon Tier III Data Center Boosts Local Data Hosting

According to ST Digital Gabon, the inauguration of the new data center reflects the country’s ambition to build a stronger and more resilient digital economy.

Speaking on the achievement, Laïka Mba, Director General of ST Digital Gabon, described the project as a historic milestone for both Gabon and Africa’s growing digital sector.

“This project is proof that no ambition is too big for Gabonese land. We are proud to have contributed to this historic milestone for our country and for the future of digital in Africa,” Mba said.

The new Gabon Tier III data center will enable government agencies, financial institutions, and private businesses to host sensitive information domestically. This is expected to improve cybersecurity, strengthen operational resilience, and reduce dependence on overseas data centers.

Tier III Facilities Improve Reliability and Security

Tier III certification is an internationally recognized standard for data centers. Facilities built to this standard are designed with redundant systems that allow maintenance without disrupting operations.

This level of reliability makes Tier III data centers suitable for organizations that require continuous access to digital services, including government agencies, banks, healthcare providers, and large enterprises.

By investing in this infrastructure, Gabon aims to improve the security of critical national data while supporting the country’s long-term digital development.

African Countries Accelerate Data Center Investments

The opening of the Gabon Tier III data center follows a growing trend across Africa as governments invest in digital infrastructure to strengthen data sovereignty and support the expanding digital economy.

Several African countries have launched similar projects during the first half of 2026.

In June 2026, Togo’s Société d’Infrastructures Numériques (SIN) partnered with ST Digital to introduce private cloud services at the Lomé Data Centre (LDC).

Earlier, in May 2026, the Africa Congo Internet Exchange opened a second data center in the Democratic Republic of Congo, becoming the country’s first internet exchange distributor.

In April 2026, cybersecurity company Trend Micro, through its enterprise business TrendAI, expanded its African data center services portfolio.

Meanwhile, Mali inaugurated a new Tier III data center in February 2026 as part of efforts to strengthen national digital sovereignty.

In January 2026, Burkina Faso also commissioned two mini data centers with a combined storage capacity of approximately 3,000 terabytes, increasing the country’s storage capability by nearly ten times.

Digital Infrastructure Becomes a Strategic Priority

Across Africa, governments are increasingly investing in data centers to support digital transformation, cloud computing, cybersecurity, and public service delivery.

By keeping critical information within national borders, countries can improve data protection, reduce reliance on foreign infrastructure, and create stronger foundations for digital innovation.

The launch of Gabon’s first Tier III data center represents another important step in Africa’s broader push to build secure, modern, and locally managed digital infrastructure.

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