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Nigerian fintech Grey partners dLocal to drive expansion into emerging markets

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Nigerian fintech, Grey, has struck up a partnership deal with leading cross-border payment platform, dLocal, aimed at driving expansion into new emerging markets.

CEO and co-founder of Grey, Idorenyin Obong, said in a statement on Friday that the fintech which offers an international money transfer service that enables its users to send and receive international payments without restrictions quickly, will explore the possibilities of the partnership to expand into more countries in the continent and globally.

“Through this partnership with dLocal, Grey will provide cross-border payouts to wallets and bank accounts, expanding its services into new markets such as Brazil, Indonesia, Mexico, the Philippines, and South Africa,” Obong said.

“This expansion will offer instant, low-cost transfers and comprehensive payment solutions, contributing to economic growth and broader access to financial services.

“Expanding into one country is tough enough, let alone multiple countries at once.

“dLocal has eased payments integration, simplified regulatory challenges, and ensured a consistent experience across all markets, letting us focus on what we do best: delivering an inclusive and seamless global banking experience to our users

“Its products include foreign bank accounts, instant currency exchange, and international money transfers,” he said.G

Grey a Y Combinator-backed fintech startup, had, in 2022, raised $2 million funding round and has steadily expanded into East Africa with Kenyan as its East African hub while dLocal powers local payments in high-growth markets, connecting global enterprise merchants with billions of consumers across Africa, Asia, and Latin America.

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Again, Starlink raises prices of its services in Nigeria

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Elon Musk’s satellite internet service provider, Starlink, has again jacked up the prices of its services in Nigeria after an earlier increase caused uproar among customers.

The service provider, in a statement released on Friday, informed its Nigerian customers that it would raise its monthly subscription prices, with the new rates set to take effect on January 27, 2025.

Under the new pricing regime, the lowest subscription tier will increase significantly from ₦38,000 to ₦75,000 per month, while mobile global roaming service will now cost ₦717,000 monthly.

The company stated that new subscribers will immediately pay the adjusted prices while existing customers will see the changes reflected in their upcoming bills.

In an email sent to users, Starlink said:

“To continue enhancing the Starlink network and provide reliable, high-quality service across Nigeria, we are adjusting our monthly subscription prices.

“These changes are part of our ongoing commitment to investing in the infrastructure needed to improve your experience with Starlink.”

This is the second time Starlink has attempted a price hike in Nigeria. The Nigerian Communications Commission (NCC) has rejected its previous increase in October on the grounds that the company had not sought the necessary regulatory approval.

However, insiders believe the NCC is set to approve an increase in the first quarter of 2025, which gives credence to insinuations that Starlink may have gotten an approval for the price increments.

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Safaricom Ethiopia launches 4G network in Gambella

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Ethiopia’s second largest telecom provider, Safaricom Telecommunications Ethiopia P.L.C., has announced the official launching of its 4G network services in Gambella and other surrounding areas.

The launching of the 4G network in the region, according to Safaricom Ethiopia CEO, Wim Vanhelleputte, highlighted the significant impact that enhanced telecommunications infrastructure could have on the region’s social and economic progress.

“In line with our commitment to digital education, Safaricom Ethiopia donated 20 laptops and 4 routers, including six months of free internet, to two high schools in Gambella City, supporting digital literacy and educational opportunities for local students,” Vanhelleputte stated.

Vanhelleputte reaffirmed Safaricom Ethiopia’s commitment to expanding its reach and ensuring that more regions gain access to reliable and high-speed internet.

“The introduction of the 4G network in Gambella is designed to deliver significant advantages to the local community,” he said .

“Enhanced connectivity will open doors to better access to information, education, and healthcare services. Additionally, it will create new opportunities for businesses and entrepreneurs, driving economic growth and development within the region.

“Safaricom Ethiopia’s move into Gambella aligns with its broader strategy to extend 4G coverage to more areas, furthering its mission of fostering nationwide connectivity,” the CEO added.

Alemitu Oumud, President of the Gambella Region who also spoke at the event, stated that, enhanced infrastructure is driving positive social and economic growth in our region.

“We commend Safaricom Ethiopia for its contributions to job creation, improving connectivity, and making Gambella a more attractive destination for investment,” Oumud said.

He stressed the potential of the new 4G network to drive business activities, attract investments, and foster entrepreneurship in the region.

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