Tech

MediaTek teams up with Airtel to boost G-5 mobile connectivity in Nigeria

Published

1 year ago

October 18, 2023

Global semiconductor giant, MediaTek, has signed a strategic partnership with Airtel Nigeria aimed at enhancing G-5 mobile connectivity across the West African country.

MediaTek, a fabless semiconductor giant responsible for powering connected devices, says the collaboration will “drive technological advancements and enhance mobile connectivity nationwide and will see the integration of hundreds of millions of individuals into the digital economy, consequently advancing mobile connectivity throughout Nigeria.”

Rami Osman, Director of Corporate Sales and Marketing for MediaTek Middle East and Africa, who made the announcement in a virtual media briefing, said the partnership highlighted MediaTek’s T750-powered Customer Premises Equipment (CPE), a groundbreaking technology that enhances internet connectivity.

“This advancement allows users to access high-speed 5G networks from the comfort of their homes, opening doors to remote work, gaming, online education, and entertainment streaming like never before,” Osman said.

“The primary objective of this partnership is to drive technological advancement and elevate mobile connectivity nationwide, bringing hundreds of millions of individuals into the digital economy,” he said.

“The pivotal focus of this alliance is MediaTek’s T750-powered Customer Premises Equipment (CPE), a pioneering technology designed to optimise internet connectivity.

“The T750 empowers users to access high-speed 5G networks from the comfort of their homes, enabling seamless remote work, gaming, online education, and entertainment streaming. With out-of-the-box 5G speeds that can reach an impressive 4.7Gbps, the T750 competes with or even surpasses the performance of traditional fixed-line services.

“Our collaboration with Airtel Nigeria focuses on enhancing high-speed internet access through advanced chipsets, offering a wider range of premium and flagship devices while supporting the transition from feature phones to smartphones, and exploring innovative AI-IoT solutions”, he added.

Also speaking at the virtual meeting, Ismail Adeshina, Director of Marketing at Airtel Nigeria, emphasised the significance of the collaboration with MediaTek in delivering affordable connectivity to Nigerians.

“Airtel’s commitment to innovation is evidenced by its early adoption of 5G technology, an initiative aimed at improving connectivity, addressing coverage and cost challenges, and making 5G devices more accessible throughout Nigeria,” he said.

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Tech

MTN Nigeria set to acquire two more licences for its fintech

Published

15 hours ago

November 7, 2024

Isaac Dachen

Nigeria’s largest telecommunications company, MTN Nigeria, is on the verge of obtaining two licences that will enable it expand its fintech subsidiary, MoMo PSB, signaling an increased focus on digital payments within Nigeria.

The company, in a statement on Wednesday, said it has applied for Payment Service Solutions Provider (PSSP) and Payment Terminal Service Provider (PTSP) licenses for Momo in a bid to upscale it to a full fledge payments platform.

“The PSSP license will enable MoMo PSB to offer payment processing gateways, create financial solutions, and provide merchant aggregation and collection services,” the statement said.

“With this license, MTN can process its payments in-house, reducing its reliance on external PSSPs and minimizing associated costs.

“In addition to addressing MTN’s internal payment needs, MoMo PSB will also be equipped to handle payment processing requirements for merchants and partners.

“The PTSP license, meanwhile, will allow MoMo PSB to deploy and service POS terminals, develop POS applications, and provide training and support to over 302,000 merchants, agents, and 5.3 million users on the MoMo PSB,” it added.

Tech

Kenyan fintech Chumz expands into Rwanda after hitting 200k users

Published

2 days ago

November 6, 2024

Isaac Dachen

Kenya’s fintech startup, Chumz, has announced its imminent expansion into Rwanda after hitting 200,000 registered users in its home market.

Chumz, which helps users set and achieve saving and investment goals through behaviour-based prompts and mobile money deposits, said the expansion drive was part of testing its solution by going live in Rwanda.

Co-founder and CEO of Chumz, Samuel Njuguna, who spoke on the move, said the fintech had built a goal-based mobile app that helped users save and invest money from their mobile money accounts, with as little as $0.05 and wanted to take its offering out of Kenya.

He stated that one of the unique features of Chumz that stands it out is that it encourages users to save based on their behaviour.

“For instance, if a user spends money at a pub, the app suggests investing some of that money instead of spending it all,” he said.

“Similarly, if a user receives mobile money, the app prompts them to save some of the money. Our app offers an easy, convenient and accessible way for users to save and invest, helping them to reach their financial goals.

“Our next big leap is to hit one million users in Kenya by 2026 and be operational in Uganda, Tanzania and Botswana by then as well,” said Njuguna, who is also behind Kenyan mobile money startup Chura.

Founded in 2019, Chumz worked on a prototype in 2020, reaching out to the regulator for a license in late-2020 and receiving one a year later.

According to several reviews, the platform works by channeling funds collected from a user’s mobile money account to a licensed fund manager, who then offers a return to the fund. Earned interest is then redistributed to individual clients.

The startup has also launched a new feature, the Superfan Challenge, where users save and invest based on their favourite football team’s performance.

“For example, if your team wins, the app prompts you to save a set amount. We have seen segments such as parents using the app to educate their kids about financial literacy and at the same time create goals for them on the app. A majority of the savers and investors are women,” Njuguna said.