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Nigeria’s telecom industry now contributes 16% to GDP

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The Nigerian government says the country’s telecommunications industry ’s contribution to the nation’s Gross Domestic Product (GDP) risen to 16 per cent, citing second quarter 2023 data.

According to data released by the Nigerian Communications Commission (NCC), based on computation by the Nigeria Bureau of Statistics (NBS), the contribution made by the sector increased from 14.13 per cent in the first quarter of 2023, up from 15 per cent, which was an all-time-high record in the second quarter of 2022, to 16 per cent in second quarter 2023, which is now a new record.

The Executive Vice Chairman of NCC, Prof. Umar Danbatta, who disclosed this in a keynote address delivered at the annual Telecom Executives and Regulators Forum (TERF) hosted by the Association of Telecom Companies of Nigeria (ATCON) in Lagos, said the sector was looking forward to increasing its contribution to Nigeria’s GDP before the end of the last quarter of the year.

“Through sustained regulatory excellence and operational efficiency by the Commission, the industry has grown in leaps and bounds over the past two decades and this has impacted on all other sectors of the economy,” Danbatta told the audience made up of executives of telecom companies and other industry stakeholders.

“The effective regulatory regime emplaced by the NCC and with the support from all stakeholders has been our major success factor as an industry,” he said.

According to the Executive Vice Chairman, from about 8 per cent contribution to GDP in 2015, when he came on board, the sector’s contribution has increased significantly to reach its current threshold of 16 per cent and that this has continued to positively impact all aspects of the economy.

He added that while there were barriers to broadband deployment in the country, ranging from the issue of right of way (RoW), fibre cuts, high capital requirement for deployment, multiple taxations and regulations, among other challenges, the NCC was navigating regulatory complexities, digital divide and literacy, security concerns with firmness, and increased collaborations with necessary stakeholders such as ATCON to create measures towards tackling the challenges.

Nigeria’s telecom industry now contributes 16% to GDP

The Nigerian government says the country’s telecommunications industry ’s contribution to the nation’s Gross Domestic Product (GDP) risen to 16 per cent, citing second quarter 2023 data.

According to data released by the Nigerian Communications Commission (NCC), based on computation by the Nigeria Bureau of Statistics (NBS), the contribution made by the sector increased from 14.13 per cent in the first quarter of 2023, up from 15 per cent, which was an all-time-high record in the second quarter of 2022, to 16 per cent in second quarter 2023, which is now a new record.

The Executive Vice Chairman of NCC, Prof. Umar Danbatta, who disclosed this in a keynote address delivered at the annual Telecom Executives and Regulators Forum (TERF) hosted by the Association of Telecom Companies of Nigeria (ATCON) in Lagos, said the sector was looking forward to increasing its contribution to Nigeria’s GDP before the end of the last quarter of the year.

“Through sustained regulatory excellence and operational efficiency by the Commission, the industry has grown in leaps and bounds over the past two decades and this has impacted on all other sectors of the economy,” Danbatta told the audience made up of executives of telecom companies and other industry stakeholders.

“The effective regulatory regime emplaced by the NCC and with the support from all stakeholders has been our major success factor as an industry,” he said.

According to the Executive Vice Chairman, from about 8 per cent contribution to GDP in 2015, when he came on board, the sector’s contribution has increased significantly to reach its current threshold of 16 per cent and that this has continued to positively impact all aspects of the economy.

He added that while there were barriers to broadband deployment in the country, ranging from the issue of right of way (RoW), fibre cuts, high capital requirement for deployment, multiple taxations and regulations, among other challenges, the NCC was navigating regulatory complexities, digital divide and literacy, security concerns with firmness, and increased collaborations with necessary stakeholders such as ATCON to create measures towards tackling the challenges.

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ADB launches mapping project for African women entrepreneurs

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The African Development Bank (ADB) has launched a mapping project targeting 160 women entrepreneurs’ associations in 16 African countries.

The mapping project which is supported by the Bank Group’s Affirmative Finance Action for Women in Africa (AFAWA) initiative and Gender Equality Trust Fund (GETF) will strengthen the associations’ visibility, improve their institutional capacities, and facilitate access to financing, according to ADB’s Vice-President for Agriculture, Human and Social Development, Beth Dunford.

In a statement issued by the Bank, the initiative is an important step in its commitment to supporting African women entrepreneurs, promoting women’s economic empowerment and boosting inclusive growth in Africa.

Dunford who officially launched the project at a ceremony in Abidjan which was attended by several associations, umbrella organizations and coalitions of women entrepreneurs, alongside about two hundred others who joined virtually, said it was the ADB’s plan to promote collaboration and networking with women entrepreneurs in the continent.

“The African Development Bank’s Action Plan for Engaging with Civil Society 2024-2028 illustrates our commitment to inclusivity, transparency and accountability,” stated Dunford.

Also speaking at the launching, Zeneb Touré, head of the Civil Society and Community Engagement Division at the Bank, said:

“Associations of women entrepreneurs are catalysts for reforms and innovations that support female entrepreneurship and facilitate women’s access to the economic resources they need to realize their full potential.”

Ms. Dagou Yvonne Nivine Gadji, representing the SEPHIS Foundation which facilitates access to Bank funding for women-led SMEs in sub-Saharan Africa, emphasized that the associations identified for the mapping project would be “catalysts for reforms, a boost to women’s empowerment and a crucible for building the capacity of several other networks of women entrepreneurs.”

“We are truly concerned about the issue of access to funding. However, it’s very difficult in Africa, because most women don’t have a guarantee for raising the funds they need.

“There are microfinance organizations that support women, but their interest rates are very high. We think that the AFAWA programme, through the Gender Equality Trust Fund (GETF), can help us,” she said.

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Bolt Kenya launches new campaign to celebrate its drivers

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Bolt Kenya has announced the launch of a new reward campaign dubbed, “Drive for a Prize”, aimed at celebrating its top-performing drivers in the country.

The campaign is part of an innovative Driver Reward Scheme designed to enhance driver engagement and empower the driver community by recognising and celebrating their outstanding contributions.

Bolt Kenya Country Manager,
Linda Ndungu, who made the announcement, said the reward campaign came following the success of a similar campaign last year, adding that the company is committed to making this year’s event even more memorable by “partnering with esteemed brands such as Oraimo, Total Energies, Naivas Supermarket, and Samsung Kenya to offer great benefits and rewards to the drivers.”

“Oraimo will offer top drivers premium phone accessories; Total Energies will provide fuel vouchers; Samsung will give them access to phones and Naivas will provide shopping vouchers for all the winners of the campaign,” she said.

“We are excited to launch the second edition of the “Drive for a Prize” campaign. Drivers are the heart of our operations, and it’s vital that we recognise and reward their dedication and hard work,” Ndungu said.

”We believe that initiatives like this will motivate our drivers to work harder, thus enhancing the quality of service for riders. This creates a win-win situation for both the drivers and the business as a whole.”

According to Ndungu, the campaign, which kicked off at the end of June, is set to run for eight weeks until the 23rd of August, during which drivers will have the opportunity to earn points based on their performance.

“The top performers will be feted at an award ceremony, where they will receive their well-deserved prizes and recognition,” she added.

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