Airtel Africa Limited, a subsidiary of India’s Bharti Airtel Limited, has announced that it had raised $1.25 billion from six global investors. Among the new investors are SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Limited.
The $1.25 billion fund, which was sourced through a primary equity issuance, now values the telco at $4.4 billion and will be used to reduce existing debt of about $5 billion and grow its Nigeria and other Africa operations.
Chief Executive of Bharti Airtel’s Africa Unit, Raghunath Mandava, noted that the transaction will help Airtel to further deleverage its balance sheet and boost capacity to upgrade networks, expand coverage in different markets and achieve rapid growth of Airtel Money across operations.
The race for market share
Recently the telecom-giant announced that it has partnered with three of the leading phone brands in Nigeria – Infinix, Itel, and Tecno – to offer increased value delivery to customers. The strategic partnership is some sort of sales promotion which works in such a way that Airtel customers get to enjoy a special data package “Double Data Offer’ every time they buy any of the phone brands.
By implication, every time an Airtel customer buys either an Infinix, Itel or Tecno phone, they will enjoy double the value of every data plan they buy henceforth. The double data value package would then last until six months after the initial phone purchase, allowing customers to enjoy increased internet connectivity.
In a monthly report for September by NCC, Airtel has the second largest market share with 26% of the market share, while MTN is tops with 39.68% of market share.
Airtel Nigeria is one of the top four telecoms service providers in Nigeria. It is a subsidiary of Bharti Airtel Limited which is headquartered in New Delhi, India.
Jumia sees competition from startups in growing African e-commerce market
Investors have experienced a couple of twists and turn since the stock debuted in New York.
One of Africa’s leading e-commerce firms, Jumia Technologies AG, is facing a new set of competition from startups in the Africa e-commerce and logistics market, after the coronavirus pandemic increased the demand for online deliveries.
The Co-Chief Executive Officer of Jumia, Sacha Poignonnec revealed that the restrictions and lockdown, which were implemented by various countries as part of measures to contain the spread of the coronavirus, have attracted more entrepreneurs into the e-commerce business. He, however, demonstrated good sportsmanship, saying:
“Greater competition is to be welcomed, given there are still so few people in the region that transact online. I would rather grow the market than just try to take everything.’’
Nairametrics had reported that Jumia reported a loss after tax of 37.6 million euros (N17 billion) in the second quarter of 2020. E-commerce firms were expected to be one of the major beneficiaries of the coronavirus pandemic as consumers, during the lockdown, moved towards online transactions to meet their essential needs.
However, the losses were an improvement on the 66.7 million euros that was reported for the corresponding period in 2019. Apparently, the firm is trying to dig itself out of a massive loss hole.
The Lagos-based online market place, which is listed on the New York Stock Exchange, was one of the pioneers of internet trading in sub-Saharan Africa. Unfortunately, the company’s performance falls behind that of its peers around the world due to various challenges ranging from poor internet connection to now competition.
Jumia investors have experienced a couple of twists and turns since the stock debuted in New York last year. Allegations of corruption, persistent losses in the Nigerian business and a damning short-seller report contributed to an initial share-price slump. But the coronavirus outbreak has helped to greatly increase market value this year.
It was reported earlier that one of the early investors in Jumia, MTN Group Ltd, was considering selling its stake in the business. Reacting to this, Poignonnec disclosed that Jumia may offer MTN’s shares as part of a potential new equity offer within the next 3 years if the Johannesburg-based firm decides to sell.
He also revealed that expanding into food delivery business has helped to increase Jumia’s sales and footprint in its African markets, which are led by Nigeria. This includes grocery and pharmacy orders as well as restaurants takeaways.
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The logistics business unit of Jumai is another revenue stream as it is also now open to third parties who wish to use the firm’s network of drivers to deliver packages.
Ride-hailing: Lagos reduces operational license fee by 20%, as operators meet with Governor
In the meeting with the Governor, all parties agreed to newer resolutions.
The Lagos State Government has reduced the operational license fee placed on ride-hailing companies operating in the state by 20%.
The decision was taken during a stakeholders’ meeting with the State Governor, Babajide Sanwo-Olu on Friday.
Governor Sanwo-Olu’s media aide, Jubril Gawat, who disclosed the outcome of the meeting, also noted that it was attended by operators like Uber, Bolt, and BMP among others.
UPDATE: Today, The Lagos State Govt had a meeting with the E-Hailing Ride Stakeholders which was chaired by the Governor of Lagos State, Mr @jidesanwoolu at the Lagos House, Marina .. The Following resolutions were made which was agreed by ALL Parties: @Boltapp_ng @UberNigeria pic.twitter.com/WNrayVzpMG
— Gawat Jubril A. (@Mr_JAGss) August 14, 2020
The Backstory: Earlier this week, the Lagos State Government had announced new guidelines designed for ride-hailing operations in the state. According to the new regulatory framework by the state which will take effect from August 20, 2020, ride-hailing companies were required to pay the Lagos State Government a 10% service tax on each transaction.
The new guidelines required operators to pay a provisional license fee of N10,000,000.00 for every 1000 cars in their unit and N25,000,000.00 for every unit above 1000 cars. Annual renewal of the license would cost N5,000,000.00 for every unit of 1000 cars and N10,000,000.00 for units with over a thousand cars in operations.
The guidelines also required that the vehicles must be brand new or within the first three (3) years of its manufacture as specified by the manufacturer.
Now, during the meeting with the Governor, all parties agreed to newer resolutions which are:
- There must be comprehensive insurance cover which will cover drivers and passengers.
- A reduction of 20% on the operational licensing fees.
- A flat fee of N20 to be known as Road Improvement Fund which will be levied on each ride/trip.
- A 90-day compliance with documentation for the drivers – There will be a one-stop shop for all the documentation (especially LASSRA Card- Lagos State Resident Registration Agency.
- E- Hailing companies to work with various bodies in the business for a good relationship.
- There MUST be due diligence and background checks on all drivers.
- Riders should desist from offline trips and transactions.
- E-Hailing Firms must make necessary data available to the Govt.
Mr. Gawat also noted that media reports about operators being required to only use cars that are not more than 3 years are incorrect. Instead, the rule only applies to Corporate Cabs.
“This has nothing to do with the E Hailing business,” Gawat said.
On the requirements for sharing data, the Lagos state government said that data shared would be encrypted, and the personal information of ride sharers would not be disclosed.
“This will help Government clear up issues around congestion & also calculation for the charge paid to Government,” he added.
Uber had earlier told Nairametrics, after the guidelines were released, that it was willing to engage the government on regulations to ensure “our operations align with best practices locally and internationally.
“We have always been willing to engage with governments on regulations to ensure our operations align with best practices locally and internationally, as we believe regulations need to support innovative technology ideas that fit 21st-century businesses.
“The current proposed regulations are inconsistent and unclear. We are working to better understand how they will impact the future of our business and network of driver-partners. We will give an update in due course,” Uber said.
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The meeting with the governor was needed, as clarifications were required on the execution of the guidelines.
COVID-19 Update in Nigeria
On the 14th of August 2020, 329 new confirmed cases and 7 deaths were recorded in Nigeria.
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 48,445 confirmed cases.
On the 14th of August 2020, 329 new confirmed cases and 7 deaths were recorded in Nigeria, having carried out a total daily test of 2,976 samples across the country.
To date, 48,445 cases have been confirmed, 35,998 cases have been discharged and 973 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 344,397 tests have been carried out as of August 14th, 2020 compared to 341,421 tests a day earlier.
COVID-19 Case Updates- 14th August 2020,
- Total Number of Cases – 48,445
- Total Number Discharged – 34,998
- Total Deaths – 973
- Total Tests Carried out – 344,397
According to the NCDC, the 329 new cases were reported from 21 states- Lagos (113), Kaduna (49), FCT (33), Plateau (24), Kano (16), Edo (15), Ogun (14), Delta (13), Osun (10), Oyo (8), Ekiti (6) Bayelsa (6), Akwa Ibom (5), Borno (4), Enugu (4), Ebonyi (3), Rivers (2), Bauchi (1), Nasarawa (1), Gombe (1) and Niger (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 16,369, followed by Abuja (4,665), Oyo (2,943), Edo (2,414), Rivers (1,993), Kaduna (1,755),Plateau (1,689), Kano (1,677), Delta (1,639), Ogun (1,535), Ondo (1,373), Enugu (980), Ebonyi (911), Kwara (888), Katsina (746), Osun (729), Borno (702), Abia (677), Gombe (648), and Bauchi (581).
Imo State has recorded 494 cases, Benue (430), Nasarawa (373), Bayelsa (352), Jigawa (322), Akwa Ibom (246), Niger (229), Ekiti (200), Adamawa (185), Anambra (156), Sokoto (154), Kebbi (90), Taraba (78), Zamfara (77), Cross River (73), Yobe (67), while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
|Date||Confirmed case||New cases||Total deaths||New deaths||Total recovery||Active cases||Critical cases|
|August 14, 2020||48445||329||973||7||35998||11474||7|
|August 13, 2020||48116||373||966||10||34309||12841||7|
|August 12, 2020||47743||453||956||0||33943||12844||7|
|August 11, 2020||47290||423||956||6||33609||12725||7|
|August 10, 2020||46867||290||950||5||33346||12571||7|
|August 9, 2020||46577||437||945||3||33186||12446||7|
|August 8, 2020||46140||453||942||6||33044||12154||7|
|August 7, 2020||45687||443||936||6||32637||12114||7|
|August 6, 2020||45244||354||930||3||32430||11884||7|
|August 5, 2020||44890||457||927||17||32165||11798||7|
|August 4, 2020||44433||304||910||14||31851||11672||7|
|August 3, 2020||44129||288||896||8||20663||22570||7|
|August 2, 2020||43841||304||888||5||20308||22645||7|
|August 1, 2020||43537||386||883||4||20287||22567||7|
|July 31, 2020||43151||462||879||1||19565||22707||7|
|July 30, 2020||42689||481||878||5||19270||22541||7|
|July 29, 2020||42208||404||873||5||19004||22331||7|
|July 28, 2020||41804||624||868||8||18764||22172||7|
|July 27, 2020||41180||648||860||2||18203||22117||7|
|July 26, 2020||40532||555||858||2||17374||22300||7|
|July 25, 2020||39977||438||856||11||16948||22173||7|
|July 24, 2020||39539||591||845||12||16559||22135||7|
|July 23, 2020||38948||604||833||20||16061||22054||7|
|July 22, 2020||38344||543||813||8||15815||21716||7|
|July 21, 2020||37801||576||805||4||15677||21319||7|
|July 20, 2020||37225||562||801||12||15333||21091||7|
|July 19, 2020||36663||556||789||11||15105||20769||7|
|July 18, 2020||36107||653||778||6||14938||20391||7|
|July 17, 2020||35454||600||772||3||14633||20049||7|
|July 16, 2020||34854||595||769||9||14292||19793||7|
|July 15, 2020||34259||643||760||6||13999||19500||7|
|July 14, 2020||33616||463||754||10||13792||19070||7|
|July 13, 2020||33153||595||744||4||13671||18738||7|
|July 12, 2020||32558||571||740||16||13447||18371||7|
|July 11, 2020||31987||664||724||15||13103||18160||7|
|July 10, 2020||31323||575||709||20||12795||17819||7|
|July 9, 2020||30748||499||689||5||12546||17513||7|
|July 8, 2020||30249||460||684||15||12373||17192||7|
|July 7, 2020||29789||503||669||15||12108||17012||7|
|July 6, 2020||29286||575||654||9||11828||16804||7|
|July 5, 2020||28711||544||645||11||11665||16401||7|
|July 4, 2020||28167||603||634||6||11462||16071||7|
|July 3, 2020||27564||454||628||12||11069||15867||7|
|July 2, 2020||27110||626||616||13||10801||15693||7|
|July 1, 2020||26484||790||603||13||10152||15729||7|
|June 30, 2020||25694||561||590||17||9746||15358||7|
|June 29, 2020||25133||566||573||8||9402||15158||7|
|June 28, 2020||24867||490||565||7||9007||14995||7|
|June 27, 2020||24077||779||558||4||8625||14894||7|
|June 26, 2020||23298||684||554||5||8253||14491||7|
|June 25, 2020||22614||594||549||7||7822||14243||7|
|June 24, 2020||22020||649||542||9||7613||13865||7|
|June 23, 2020||21371||452||533||8||7338||13500||7|
|June 22, 2020||20919||675||525||7||7109||13285||7|
|June 21, 2020||20242||436||518||12||6879||12847||7|
|June 20, 2020||19808||661||506||19||6718||12584||7|
|June 19, 2020||19147||667||487||12||6581||12079||7|
|June 18, 2020||18480||745||475||6||6307||11698||7|
|June 17, 2020||17735||587||469||14||5967||11299||7|
|June 16, 2020||17148||490||455||31||5623||11070||7|
|June 15, 2020||16658||573||424||4||5349||10885||7|
|June 14, 2020||16085||403||420||13||5220||10445||7|
|June 13, 2020||15682||501||407||8||5101||10174||7|
|June 12, 2020||15181||627||399||12||4891||9891||7|
|June 11, 2020||14554||681||387||5||4494||9673||7|
|June 10, 2020||13873||409||382||17||4351||9140||7|
|June 9, 2020||13464||663||365||4||4206||8893||7|
|June 8, 2020||12801||315||361||7||4040||8400||7|
|June 7, 2020||12486||260||354||12||3959||8173||7|
|June 6, 2020||12233||389||342||9||3826||8065||7|
|June 5, 2020||11844||328||333||10||3696||7815||7|
|June 4, 2020||11516||350||323||8||3535||7646||7|
|June 3, 2020||11166||348||315||1||3329||7522||7|
|June 2, 2020||10819||241||314||15||3239||7266||7|
|June 1, 2020||10578||416||299||12||3122||7157||9|
|May 31, 2020||10162||307||287||14||3007||6868||7|
|May 30, 2020||9855||553||273||12||2856||6726||7|
|May 29, 2020||9302||387||261||2||2697||6344||7|
|May 28, 2020||8915||182||259||5||2592||6064||7|
|May 27, 2020||8733||389||254||5||2501||5978||7|
|May 26, 2020||8344||276||249||16||2385||5710||7|
|May 25, 2020||8068||229||233||7||2311||5524||7|
|May 24, 2020||7839||313||226||5||2263||5360||7|
|May 23, 2020||7526||265||221||0||2174||5131||7|
|May 22, 2020||7261||245||221||10||2007||5033||7|
|May 21, 2020||7016||339||211||11||1907||4898||7|
|May 20, 2020||6677||284||200||8||1840||4637||7|
|May 19, 2020||6401||226||192||1||1734||4475||7|
|May 18, 2020||6175||216||191||9||1644||4340||7|
|May 17, 2020||5959||388||182||6||1594||4183||7|
|May 16, 2020||5621||176||176||5||1472||3973||7|
|May 15, 2020||5445||288||171||3||1320||3954||4|
|May 14, 2020||5162||193||168||3||1180||3815||4|
|May 13, 2020||4971||184||164||6||1070||3737||4|
|May 12, 2020||4787||146||158||6||959||3670||4|
|May 11, 2020||4641||242||152||10||902||3589||4|
|May 10, 2020||4399||248||142||17||778||3479||4|
|May 9, 2020||4151||239||127||11||745||3278||4|
|May 8, 2020||3912||386||118||10||679||3115||4|
|May 7, 2020||3526||381||108||4||601||2818||4|
|May 6, 2020||3145||195||104||5||534||2507||1|
|May 5, 2020||2950||148||99||5||481||2370||4|
|May 4, 2020||2802||245||94||6||417||2291||2|
|May 3, 2020||2558||170||88||2||400||2070||2|
|May 2, 2020||2388||220||86||17||351||1952||2|
|May 1, 2020||2170||238||69||10||351||1751||2|
|April 30, 2020||1932||204||59||7||317||1556||2|
|April 29, 2020||1728||196||52||7||307||1369||2|
|April 28, 2020||1532||195||45||4||255||1232||2|
|April 27, 2020||1337||64||41||0||255||994||2|
|April 26, 2020||1273||91||41||5||239||994||2|
|April 25, 2020||1182||87||36||3||222||925||2|
|April 24, 2020||1095||114||33||1||208||855||2|
|April 23, 2020||981||108||32||3||197||753||2|
|April 22, 2020||873||91||29||3||197||648||2|
|April 21, 2020||782||117||26||3||197||560||2|
|April 20, 2020||665||38||23||1||188||466||2|
|April 19, 2020||627||86||22||2||170||436||2|
|April 18, 2020||541||48||20||2||166||356||2|
|April 17, 2020||493||51||18||4||159||317||2|
|April 16, 2020||442||35||13||1||152||277||2|
|April 15, 2020||407||34||12||1||128||267||2|
|April 14, 2020||373||30||11||1||99||263||2|
|April 13, 2020||343||20||10||0||91||242||2|
|April 12, 2020||323||5||10||0||85||228||2|
|April 11, 2020||318||13||10||3||70||238||2|
|April 10, 2020||305||17||7||0||58||240||2|
|April 9, 2020||288||14||7||1||51||230||2|
|April 8, 2020||274||22||6||0||44||226||2|
|April 7, 2020||254||16||6||1||44||204||2|
|April 6, 2020||238||6||5||0||35||198||2|
|April 5, 2020||232||18||5||1||33||194||2|
|April 4, 2020||214||5||4||0||25||185||0|
|April 3, 2020||209||25||4||2||25||180||0|
|April 2, 2020||184||10||2||0||20||162||0|
|April 1, 2020||174||35||2||0||9||163||0|
|March 31, 2020||139||8||2||0||9||128||0|
|March 30, 2020||131||20||2||1||8||121||0|
|March 29, 2020||111||22||1||0||3||107||0|
|March 28, 2020||89||19||1||0||3||85||0|
|March 27, 2020||70||5||1||0||3||66||0|
|March 26, 2020||65||14||1||0||2||62||0|
|March 25, 2020||51||7||1||0||2||48||0|
|March 24, 2020||44||4||1||0||2||41||0|
|March 23, 2020||40||10||1||1||2||37||0|
|March 22, 2020||30||8||0||0||2||28||0|
|March 21, 2020||22||10||0||0||1||21||0|
|March 20, 2020||12||4||0||0||1||11||0|
|March 19, 2020||8||0||0||0||1||7||0|
|March 18, 2020||8||5||0||0||1||7||0|
|March 17, 2020||3||1||0||0||0||3||0|
|March 16, 2020||2||0||0||0||0||2||0|
|March 15, 2020||2||0||0||0||0||2||0|
|March 14, 2020||2||0||0||0||0||2||0|
|March 13, 2020||2||0||0||0||0||2||0|
|March 12, 2020||2||0||0||0||0||2||0|
|March 11, 2020||2||0||0||0||0||2||0|
|March 10, 2020||2||0||0||0||0||2||0|
|March 9, 2020||2||1||0||0||0||2||0|
|March 8, 2020||1||0||0||0||0||1||0|
|March 7, 2020||1||0||0||0||0||1||0|
|March 6, 2020||1||0||0||0||0||1||0|
|March 5, 2020||1||0||0||0||0||1||0|
|March 4, 2020||1||0||0||0||0||1||0|
|March 3, 2020||1||0||0||0||0||1||0|
|March 2, 2020||1||0||0||0||0||1||0|
|March 1, 2020||1||0||0||0||0||1||0|
|February 29, 2020||1||0||0||0||0||1||0|
|February 28, 2020||1||1||0||0||0||1||0|