Why Uber and Bolt Drivers in Lagos Embarked on Strike

Uber

Drivers of two of the leading ride-hailing platforms in Lagos  Uber and Bolt, have commenced a strike action to demand for better remunerations and working conditions. The drivers, under the umbrella of the Professional E-hailing Drivers and Partners Association (PEDPA), downed tools today to force the two biggest players in Nigeria’s ride-hailing industry that have competed since their entrance into the Nigerian market in 2014 and 2016 respectively to redress the working conditions.

Uber
Uber

One of the ways they have competed is with pricing, with each operator giving promos and lowering fares to try to win over new customers. Yet, over the years, there have been claims that the pricing wars came at the expense of drivers.

Read also:Bolt Launches ‘Women Only’ Ride Hailing Service

Now Uber and Bolt drivers in Nigeria want the pricing to be reviewed because the prices are no longer reflective of the costs they put in. They also want both companies to reduce the commission charged on rides from 25% to 10%. PEDPA says that it has written letters to Uber and Bolt about their concerns but has received no response. To press home their demands, the drivers will begin a one-week warning strike today with hopes that both companies will come to the table.

According to Idris Shonuga, the National President of PEDPA, an association that was formed in 2019 and affiliated with the Trade Union Congress (TUC) of Nigeria, “what they (Uber and Bolt) do is deploy an app which facilitates links with riders and they charge a commission. We bear the running costs of fuelling the car and take all the associated risk of managing and running our vehicles.”

“Unfortunately, they fail to give us a say, they keep fixing the price ridiculously low and we’re selling below the cost price.” 

Read also:Mastercard Expands Cashless Payment Functionality for Uber MEA

Shonuga argues that it has become almost impossible for e-hailing drivers to make a living driving for Bolt or Uber because while inflation is driving prices upward, the cost of the service has remained static.

“You’re seeing several accidents on Lagos roads because drivers are overworking themselves to make very little money; this is systemic slavery of Nigerian youth, many of who are driving because of unemployment.”

According to Shonuga’s analogy, for Uber and Bolt drivers to make ₦15,000 ($36) in revenue daily, they have to spend a minimum of 10 hours on Lagos roads. Shonuga also estimates that ₦4,950 ($12) will be used to fuel their cars and then Uber or Bolt will charge ₦3,750 ($9.10) in fees. After 10-15 hours of work, drivers may be left with around ₦6,300 ($15.29), which at the lowest end is ₦630 ($1.53) for every hour they work.

But it gets worse when you consider that many of the drivers on these platforms get the cars they use through hire-purchase agreements that require them to pay ₦20,000 – ₦30,000 ($48.55 – $72.82) per week.

The drivers say these conditions are unfavourable and want ride-hailing companies to give them a seat at the table in making decisions on pricing. They also want these companies to reduce the commission on rides to 10%.

Read also:Appzone to Expand Banking Technology Across Africa With New Funding

Responding to the claims, the Country Manager for Bolt, Femi Akin-Laguda said that Bolt is constantly evaluating our operations to ensure we continue to provide the best earnings for drivers on the platform even as we still remain the most preferred platform for passengers.

Therefore, our commitment remains to treat drivers on the platform with respect, keeping an open-door policy for feedback to be provided. Also, we have various communication and support channels that are always available for drivers on the platform to reach us at any time, any day, and for any issue that may affect their operations.” 

Uber on the other hand noted that they are “aware of a protest taking place today by a small group of e-hailing drivers, resulting in slightly longer waiting times for riders. We respect driver-partners as valuable partners with a voice and a choice and we want them to know that we are always open to their feedback.”

“It’s however important to note that diver-partners are diverse in how they use the Uber app and it would be difficult for an individual or group to holistically represent every driver on the app.”

Read also:Ghana-based VC Again Leads A $200k Seed Round In Fintech Startup BezoMoney

Away from fees, another important demand PEDPA has is for drivers who have been blocked by both platforms to be unblocked.

“You’re expected to provide 5-star service on every trip and even if you have over 1000 trips with 5-star ratings, if you get reported for anything at all, you get blocked from the platform.”

Shonuga believes that this approach is unfair and that while bad actors should be punished, the companies should take a nuanced approach in dealing with these issues.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

How to Stop Your Smartphone From Spying on You

Smartphone Spying

Recently, there has been a spike in the number of complaints by many people on how products they discussed offline or off-phones with friends start appearing on their timelines. Or how products they searched on Google search engine starts flooding advertorials of the product or similar products through their phones or other devices. This is the new level in mega spying by secret apps installed in devices by manufacturers of software and those of the devices.

Spying
Spying

Security experts have warned users to be careful what they discuss around their smartphones because the virtual assistant is likely listening. According to a study by NordVPN, there was a five percent increase in the number of monitoring apps installed on user’s devices last year. However, some users still suspect that their smartphones are spying on them even if they don’t have any monitoring apps installed on their devices.

Read also:Three Cybersecurity Challenges Triggered by COVID-19 Lockdown

This is actually true as virtual assistants such as Siri, Google Assistant and Alexa listen to smartphone users all the time. This is because they need to constantly listen in order to be able to hear voice commands and assist users.

However, some of the things people say around their smartphones are being recorded for a company’s own benefit such as improving the quality of their services or for marketing purposes.

Digital privacy expert at NordVPN, Daniel Markuson explained how virtual assistants function in a similar way to search engines in a press release, saying:

“When you ask Google Assistant or Siri to find something, this information is used for online advertising. It’s no different from typing something into Google Search. If you’re looking for car dealerships in your city, related ads will start chasing you across the internet. In a way, a virtual assistant is just another search engine.”

How to test if your smartphone is spying on you

According to NordVPN, the best way to test to see if your smartphone is helping marketers target you online is by setting a trap.

To do so, you’ll need to select a topic that can’t be associated with your personality and involves something you would never normally discuss. From here you’ll need to keep this topic in your head and avoid using your phone or other devices to search for information on it. Next you’ll have to come up with a list of keywords that could trigger search engines and talk out loud about the topic by yourself or with friends.

Read also:South African Government Encourages Businesses to Market to Africa’s Population

Now that the trap has been set, you will soon be able to see if any new ads have started targeting you on social media or on the sites you frequently visit online.

To avoid unwanted tracking by your smartphone and virtual assistants, users need to review their app permissions and turn off their device’s audio recording and video recording features and that of installed apps. As a final step, you can install a VPN on your smartphone to further protect your online privacy.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

How Hackers Are Selling Data Of Over 500 million LinkedIn Users Using Bitcoin

Cybersecurity

Social network giant LinkedIn is the next victim of a major personal data breach, after Facebook. According to information released by Cybernews, more than 500 million LinkedIn users are the latest victims of this massive leak. The data is being sold by hackers for $7,000 worth of bitcoin, says the same source, which updated the report on Friday to clarify it found a new list of databases created by another user on the same hacker forum.

Cybersecurity
Cybersecurity

“The new author claims to be in possession of both the original 500-million database, as well as six additional archives that allegedly include 327 million scraped LinkedIn profiles,” the report noted. 

“If true, this would put the overall number of scraped profiles at 827 million, exceeding LinkedIn’s actual user base of 740+ million by more than 10%. This means that some, if not most, of the new data sold by the threat actor might be either duplicate or outdated,” it added.

Here Is What You Need To Know

  • According to the source, personal information, such as email addresses, phone numbers, job details, full names, gender, account IDs, and connections to users’ other social media sites, was included in the leaked data, in addition to publicly viewable member profiles.
  • LinkedIn, the professional online social network created in 2002 and now owned by tech giant Microsoft, however denied that it was a hack. Instead, the company said the purported hacking activity related to an “aggregation of data from a number of websites and companies”.
  • In fact, according to the social network, it is “profile data made publicly visible which has been extracted”. 

“Data was not therefore stolen from users’ private accounts,” LinkedIn said. “No LinkedIn private member account data was included in what we were able to review.”

Auctioned For Bitcoin

The hackers responsible for this major leak, which represents a blow to the social network, also auctioned the database, starting from $1000 for no less than 500 million profiles. 

Read also:South African Government Encourages Businesses to Market to Africa’s Population

This database, which has been auctioned, may bring in a four-figure amount, depending on the expectations of hackers who want a settlement in bitcoin. The database consists of a cross-referencing of names, email addresses, telephone numbers, professional backgrounds and other information.

Read also: Proposed Internet Security Regulation In Botswana To Shut Down Websites For Non-compliance

What Makes This So Concerning?

With the alleged hacking activity, LinkedIn users are now potentially at risk of targeted phishing attacks, spamming of 500 million emails and phone numbers, and brute-forcing of profile and email passwords. Harassment and the development of false identities using users’ personal details are examples of other events that may follow. 

Professional hackers can also mix the stolen information with other leaks to create a perfect false profile of their targeted victim.

Nevertheless, “the leaked files appear to only contain LinkedIn profile information — we did not find any deeply sensitive data like credit card details or legal documents in the sample posted by the threat actor,” CyberNews said in a statement.

“With that said, even an email address can be enough for a competent cybercriminal to cause real damage,” it added.

What Actionable Steps May Be Taken To Reduce The Chances Of Being A Victim? 

According to Tunisia’s National Computer Security Agency (ANSI) in a publication on its official page in response to the recent Facebook data breach:

“It is important to remember that the leak does not concern passwords or messaging. However, the leaked data can be used for phishing (phishing) or smishing (SMS spamming) attacks without forgetting the fact that this information can be sold and exploited for marketing companies.”

The agency also went ahead to advise on actionable steps to take in case of data breach.

“Today, it is impossible to delete the data that was leaked during this attack, but we can mitigate its impact and take preventive measures to improve the protection of personal data communicated to social networks,” it said.  

Therefore, ANSI recommends:

“Strengthening account security by opting for strong passwords consisting of 8 to 12 characters including numbers, letters and symbols. 

In addition, you should never let a third party or an application create your access settings.

Enable strong or two-factor authentication to deny access to the account even if the access settings have been compromised.

Read also:Egypt’s Paymob Raises $18.5m Series A, Highest Ever For A Fintech Startup

Configure the information communicated to social networks and limit yourself to basic information.

Optimize the protection of mobile devices and computers by installing an antivirus and keeping it up to date.”

Additionally, affected users should:

  • Not click on any links that seem to be dubious.
  • Not respond to suspicious emails or messages
  • Not answer a call from an unknown phone number or return the call.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

how hackers LinkedIn data how hackers LinkedIn data how hackers LinkedIn data

5G Rollout in Kenya Escalates as Airtel Upgrades 600 Sites

With the rollout of the 5G technology in Kenya a month ago, major telecoms companies are rushing to upgrade their equipment and sites to meet up with demands. To this end, Airtel Kenya has upgraded over 600 sites in Nairobi, Mombasa and Malindi to ensure that they are 5G ready – this comes shortly after rival telco, Safaricom, launched the first 5G commercial services in East Africa.

Prasanta Das Sarma, MD of Airtel Kenya
Prasanta Das Sarma, MD of Airtel Kenya

“These 600 sites are now 5G-ready. We don’t have to make any further modifications to the network. We will just get the spectrum and decide when to switch on,” says Prasanta Das Sarma, MD of Airtel Kenya.

Read also:Egypt’s Paymob Raises $18.5m Series A, Highest Ever For A Fintech Startup

According to Business Daily, the new 5G network will “give consumers Internet speeds of 700 megabits per second, more than three times faster than the current 4G network, allowing operators to offer an alternative service for homes and offices in areas which are not currently covered by its fibre network”.

Sarma also revealed that subscribers can hope to switch to the 5G network within one to two years, around the same time that the telco believes 5G devices will become more affordable.

“The 5G handsets right now are obviously very costly and see few buys. We feel that a reasonable price will start coming in one and a half to two years,” says Sarma. “That is the time we feel we will be able to switch on our 5G network. But if things happen faster, we are ready for it.”

Read also:What could 5G mean for South Africa?

Airtel Kenya began work on its 5G network last year. Since then, the deployment of future-proofed network infrastructure has been expected to cover hundreds of sites and include upgrading existing 2G, 3G and 4G radio access network (RAN) coverage in urban, semi-urban, highways, tourist spots and central business districts in Nairobi and the rest of Kenya.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

M-Pesa Africa Appoints New Managing Director

The world’s largest mobile money platform, Safaricom’s M-Pesa Africa has appointed Sitoyo Lopokoiyit as its new Managing Director. He is a “mobile financial services expert who has directly managed mobile money in two of the largest markets in the world – Kenya and Tanzania,” reveals MyBroadBand. Lopokoiyit joined Safaricom in 2011 as head of M-Pesa strategy and business development. He then went on to Vodacom Tanzania in 2016 where he worked as the director of m-commerce, before re-joining Safaricom in 2018.

Sitoyo Lopokoiyit
Sitoyo Lopokoiyit

It could be recalled that Kenyan Senators have been working towards breaking up Safaricom so M-PESA can be a separate entity to prevent what they call undue monopoly. They believe that Safaricom should split into two firms – Mobile Services and M-PESA. According to The Star, a split would see the mobile telephony service regulated by the Communication Authority of Kenya (CAK) and the M-Pesa division regulated by the Central Bank of Kenya (CBK).

Read also:A Month After Investing In TymeBank, Apis Partners Quits African Payments Company Tutuka Holdings

A recent report by TechWeez revealed that senators believe there should be a level playing ground for the likes of Telkom and Airtel Kenya who operate at the mercy of Safaricom as they owe it billions of shillings.

“The market is not competitive any more. The other operators should be allowed to operate, by giving the dominant operator its right, but also allowing the others to operate, and allow innovation in the country,” says Senator Petronilla Were of the ICT committee.

Senator Irungu Kang’ata echoed this sentiment, saying “in Kenya, you have a situation where one single player dictates how much you are going to pay for data bundles, for calls and Short Message Service because it controls almost 90 per cent of the market”.

Read also How Egypt’s Fintech Raised $18.5m in One Fell Swoop

“In such a situation, I do not foresee any other entity growing. We are not going to create more jobs and innovation in that industry because of the dominance of one entity.”

Senator Enock Wambua urged Safaricom to confirm whether it is a communication company or a banking institution. “I would suggest that Safaricom is split into two. Safaricom the communication company, regulated by the Communication Authority of Kenya (CAK), and the M-Pesa division regulated by the Central Bank of Kenya.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Ecobank Appoints Tomisin Fashina as Group Executive, Operations & Technology

Tomisin Fashina, new Group Executive for Operations & Technology at Ecobank

Tomisin Fashina has been tapped for the position of Group Executive for Operations & Technology at Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, a position he will now hold in addition to his existing role of Managing Director of eProcess International.

Speaking on the appointment, Ade Ayeyemi, CEO Ecobank Group said that “The rapidly accelerating digital adoption by Africa’s citizenry and businesses, together with the explosion in ecommerce across the continent, is driving transformation throughout the banking and payment sectors. Winning across operations and technology is essential for the Ecobank Group’s short, medium and long-term success, and is an integral requirement of our ongoing determination to continue to meet the evolving expectations of our customers. Tomisin is well experienced to ensure this, and his new role provides him with an overarching view of our operations and technology functions.”

Tomisin Fashina, new Group Executive for Operations & Technology at Ecobank
Tomisin Fashina, new Group Executive for Operations & Technology at Ecobank

Read also:The Finalists for Ecobank’s 2020 Fintech Challenge Announced

Tomisin who has over 30 years of experience, predominantly in technology management and financial services was the Chairman of the Board of Directors of Steward Bank Harare Zimbabwe before joining Ecobank Group. He has also been Chief Executive Officer for Yookos, a social media company, and has held several positions at Barclays Bank, including General Manager & Head, Transactional Banking Products, and Channels Management and Director, Cash Management & Payments. Prior to this, at Citigroup South Africa, he held leadership roles in its Global Transaction Services as Division Head & Director, Client Delivery, sub-Saharan Africa; and Division Head, Electronic Banking & Implementation, sub-Saharan Africa.

Read also:Egypt’s Paymob Raises $18.5m Series A, Highest Ever For A Fintech Startup

Tomisin has a BSc degree in Computer Engineering from Obafemi Awolowo University, a Master of Business Administration in Marketing from the University of Lagos and a PhD in Business Management in Leadership from Capella University, Minnesota, USA. Dr.  Fashina succeeds Eddy Ogbogu as Group Executive, Operations & Technology, following Eddy’s recent retirement after serving the Group for 11 years.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Sparkle Business Launches Mobile App to Support SMEs in Nigeria

Uzoma Dozie, Founder and CEO of Sparkle

Nigeria’s leading mobile financial firm Sparkle, a mobile-first digital ecosystem providing financial, lifestyle and business support services to Nigerians across the globe, has launched Sparkle Business. This new app is an addition to the existing Sparkle mobile application, to help small businesses and SMEs access the much-needed products and services to grow their enterprises digitally.

The new Sparkle Business features include an Inventory and Invoice Management with aim to help businesses maintain control over their payment requests and overall operations.

Uzoma Dozie, Founder and CEO of Sparkle
Uzoma Dozie, Founder and CEO of Sparkle

Also included in the app is a Payment Gateway Service to manage single and bulk payments more seamlessly, a Tax Advisory/Calculations to help evaluate business turnover and calculate tax filings, and a Payroll/Employee Management to manage employee payments and benefits effectively without error or human interventions, and much more.

Read also:Kenya Joins The Canada-Africa Chamber of Business

The platform has been designed with mobile-first, digital native entrepreneurs and companies in mind, who need to run all aspects of their enterprises, at the touch of a button.

Since its launch in 2020, Sparkle has grown a community built on trust and transparency, helping thousands to experience a new, easy, stress-free approach to organizing their finances.

In Nigeria, SMEs contribute 48% of national GDP, account for 96% of businesses and 84% of employment, however they often face challenges with making strategic decisions due to lack of data for key insights into important issues that affect their business.

Built by the Sparkle team to support Nigeria’s millions of SMEs as they scale, Sparkle Business will bring all essential business transactions onto one safe and simple to use platform.

Read also:Local Investors Lead $2m Investment In Nigerian Fintech Bankly

Commenting on the launch, Uzoma Dozie, Founder and CEO of Sparkle, said, “SMEs are the largest employer of labour in Nigeria but are lacking access to basic services that will help their businesses.

We have introduced Sparkle Business as a one stop shop, to help individuals to launch their businesses digitally, while meeting existing SMEs’ pain points, and allowing them to pivot to the next level of success. We have been afforded this opportunity due to our extensive research and access to data, which allows us to know what exactly SMEs are looking for.

We are truly excited about the initial results from the beta test and are looking forward to impactful results for small businesses in the near future.”

Sparkle Business is live now and can be accessed by current Sparkle users who have registered businesses in Nigeria. To register, individuals will need to have a personal Sparkle account, Tax Identification Number [TIN], and an email address connected to their TIN.

Read also:WemTech Spring 2021 Program for African Women in Technology and Engineering Calls for Applications

Uzoma, having worked in retail banking for over 20 years, has unrivalled experience when it comes to building banking products for businesses. He adds, “Sparkle was built to allow individuals to be free; Sparkle Business is an extension of this, so that business owners can reduce friction when it comes to important administrative transactions.

“We’re excited to roll out our new products and services and to continue to grow an increasingly busy and entrepreneurial group of business owners who don’t want to accept that banking halls and physical paper trails are the only means of conducting business in Nigeria”.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Decline in Passenger Traffic as ‘War’ with Emirates, Etihad Continues

Nigeria has continued to witness a decline in passenger traffic at a time of optimism of a recovery due to the opening up of airports and flight activities globally. This sudden drop in projection is not unconnected with the ongoing squabble between the Nigerian aviation authorities and that of the United Arab Emirates (UAE) which led to the suspension of Emirates and Etihad from the Nigerian airspace. A recent report puts the decline in international passenger traffic at 20 percent as a result of the ongoing spat.

Emirates Airlines
Emirates Airlines

It could be recalled that the spat which has lasted longer than expected leading to the stoppage of flights from the UAE to Nigeria as a result of disagreement over the appropriate Covid-19 protocols. Dubai Airport authorities subjected travelers from Nigeria to more strenuous checks following cases of fake COVID-19 PCR test results coming from Nigeria. The Nigerian government preferred the Polymerase Chain Reaction (PCR) tests over the rapid antigen tests which Emirates and other airlines seem to favour. Nigeria’s insistence on PCR led Emirates Airlines to deny many passengers from Nigeria boarding, a decision the Nigerian government fought against. This is even as the International Air Transport Association (IATA) urged governments to accept best-in-class rapid antigen tests following the publication of new research findings.

OXERA-Edge Health report, commissioned by IATA found rapid antigen tests to be most effective because the best antigen tests provide broadly comparable results to PCR tests in accurately identifying infected travellers. The BinaxNOW antigen test, for example, misses just one positive case in 1000 travellers (based on an infection rate of one per cent among travellers). And it has similarly comparable performance to PCR tests in levels of false negatives. In terms of convenience, processing times for antigen tests are 100 times faster than for PCR testing. Cost-efficient: antigen tests are, on average, 60 per cent cheaper than PCR tests.

Read also:Africa’s Business Heroes Prize Competition Calls for 2021 Applications

According to IATA’s Director General and CEO, Alexandre de Juniac, international aviation would energise the economic recovery from COVID-19, adding that along with vaccines, testing will play a critical role in giving governments the confidence to re-open their borders to travellers. For governments, the top priority is accuracy. But travellers will also need tests to be convenient and affordable. The OXERA-Edge Health report tells us that the best-in-class antigen tests can tick all these boxes. It’s important for governments to consider these findings as they make plans for a re-start,” de Juniac said.

Read also:Savings, Wealth Management and Insurance Provides Biggest Opportunities for Fintech in Africa.

He added that testing requirements are currently fragmented, which is confusing to travellers. Moreover, many governments do not allow rapid testing. If the only options available for travellers are PCR tests, these come with significant costs disadvantages and inconvenience. And in some parts of the world, PCR testing capacity is limited, with priority correctly given to clinical use.

“Travellers need options. Including antigen testing among acceptable tests will certainly give strength to the recovery. And the EU’s specification of acceptable antigen tests offers a good baseline for wider international harmonisation of acceptable standards. We now need to see governments implement these recommendations. The goal is to have a clear set of testing options that are medically effective, financially accessible, and practically available to all prospective travelers,” de Juniac said.

This ongoing disagreement according to the Airline Passenger Joint Committee (APJC) has had a negative impact on international passenger traffic as the withdrawal of the UAE airlines has led a two weeks slump from projected 45 percent to a dismal 15 percent.This is not good for the Nigerian economy and the aviation sector in particular, says APJC.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Smile Telecoms Restructures Debt, Gets $51m Fund for Expansion

Smile Telecoms Holdings Ltd

Smile Telecoms Holdings Ltd. a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania, and the Democratic Republic of the Congo has announced that its RP (Restructuring Plan) has been approved and agreed with the lenders.

Smile Telecoms Holdings Ltd
Smile CommSmile Telecoms Holdings Ltd

This debt restructuring plan sees an injection in fresh money funding from Smile’s majority shareholder, the Al Nahla, and rescheduling on debt repayment until post-March 2022.

The fresh injection of $51m in funding for Operations will further enhance Smile’s position in its respective markets and energize Smile’s operations and support efforts towards achieving better performance.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Liquid Embarks on Major Regional Expansion Across South Africa

Deon Geyser, CEO of Liquid Intelligent Technologies South Africa

Recently rebranded Liquid Intelligent Technologies (Liquid) has announced the successful completion of two key digital corridors – NLD5 and NLD6 connecting Durban to Cape Town via the inland route. The completion of this fibre network is expected to support the surging demand for high-speed internet as an increasing number of local businesses continue their digital transformation journeys.

Deon Geyser, CEO of Liquid Intelligent Technologies South Africa
Deon Geyser, CEO of Liquid Intelligent Technologies South Africa

“The completion of these two digital corridors is yet another milestone achieved as part of our on-going investment into the South African economy. Liquid has been instrumental in the fruition of routes 1 through to 8, providing a digital backbone that connects metropolitan cities like Cape Town, Johannesburg and Durban to more remote areas like Nelspruit Bloemfontein, Lady Smith, Mthatha,” says Deon Geyser, CEO of Liquid Intelligent Technologies South Africa.

Read also:Africa’s Business Heroes Prize Competition Calls for 2021 Applications

“This is also part of our Group’s continued focus on bringing world-class digital services like Cloud, Unified Communications, Internet of Things (IoT), and Artificial Intelligence (AI) to local businesses in the public and private sectors.”

Spanning over 1700 km, the near-unlimited capacity and redundancy offered on these digital corridors is expected to positively impact numerous industries, especially educators and healthcare practitioners, as they increase their reach to the remotest parts of the country. Access to improved digital services will also impact the education system in the country as the government gears to empower more youth with digital skills as newer vocations develop through the 4IR.

Liquid Telecom Unveils New Identity and Pan-African Strategy

Liquid Telecom has unveiled its new identity as Liquid Intelligent Technologies. The pan-African technology group also revealed its plan to go from being a telecommunications and digital services provider to a full one-stop-shop technology group through a group-wide rebrand.

Read also:Local Investors Lead $2m Investment In Nigerian Fintech Bankly

Over the last two decades, Liquid has firmly established itself as the leading pan-African digital infrastructure provider with an extensive network spanning over 73,000 KM. This rebrand to Liquid Intelligent Technologies highlights the organisation’s expansion of its Cloud business, Cyber Security services, and other technologies added to its existing telecoms and connectivity capability.

This furthers the Group’s aim of accelerating growth by providing tailor-made digital solutions to businesses in the public and private sectors across the continent. This strategic rebrand reflects Liquid’s new digital-first product offerings, enabling employees and customers to interact with each other digitally irrespective of the time or location. By aggressively expanding into new countries, including Nigeria and the Democratic Republic of Congo, Liquid Intelligent Technologies expects to bring its award-winning high-performance network connectivity closer to more people and accelerate the development of the digital workplace.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry