General
AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views
By Adedapo Adesanya
Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed.
According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent.
Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers in Cameroon and Cote D’Ivoire which saw 300 per cent and 400 per cent increases in viewers and revenue respectively between December 2023 and February 2024.
In total, the company streamed more than 4 million pieces of content per month to football fans via its AFCON-related channels, amassing 500,000 subscribers for content specifically related to the tournament.
“Whilst one of the main conversations of this year’s AFCON has been the commercial growth of African sport, these statistics reinforce the revolution in another one of the continent’s fastest-growing sectors – the content space.
“Based on the data, there’s undoubtedly a huge demand for quality, hyper-localized content from African creators but if we want to effectively unlock the full potential of this market opportunity, it’s vital we empower both sides of the marketplace,” the chief executive and founder of StarNews Mobile, Mr Guy Kamgaing, said.
“With this in mind, it’s simply not enough to just provide a platform for African creators to express themselves. We need to invest in their success by equipping them with the financial stability, independence, and freedom to create so they can fully leverage the massive value the continent and its diaspora’s 1.2 billion consumers hold,” he added.
Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.
With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.
To date, StarNews Mobile has secured over $8 million in funding with its most recent raise – a $3 million pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé, and Mike Maignan.
The global creator economy stands at an estimated worth of $20 billion and with the world’s youngest population, there is an emerging class of African content creators ready to capitalise on the sector’s potential. However, despite this, differences in international payment methods, cellular data limits, and even certain cultural differences establish major barriers for African creators and influencers to monetize their content with traditional platforms.
However, through its partnerships with local mobile providers, StarNews Mobile can bill subscribers directly to their phone and leverages SMS technology to eliminate the roadblocks surrounding payments and data limits respectively. Creators can also charge their followers a small daily or weekly fee, limiting their reliance on ads and elevating the content of the quality provided as they focus on engaging and retaining their followers.
Leveraging its partnership with Orange – one of the main sponsors of AFCON 2023 – StarNews Mobile launched a series of initiatives to boost fan engagement with this year’s tournament including creating physical fan zones across its markets, data subscription bundles and virtual channels on its platform dedicated to the tournament.
According to sports analytics platform, Opta, the 2023 AFCON has been one of the most exciting in the tournament’s history with this year’s group stage alone recording an average goals-per-game rate of 2.47, making this AFCON’s highest-scoring tournament in 15 years.
With the Confederation of African Football(CAF), the organisers of AFCON 2023, securing a 100 per cent increase in applications for media accreditations to cover the event alongside extensive global broadcasting deals, the tournament has broken into a new threshold of worldwide popularity.
By Modupe Gbadeyanka
Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.
It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.
Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.
It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.
This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.
By Adedapo Adesanya
President Bola Tinubu on Thursday urged the Chinese government to increase the $2 billion currency swap between Nigeria and the Asian nation to enhance trade between the two countries.
He also called for an upward review of the $50 billion aid package for Africa, which China’s President Xi Jinping announced last year.
Recall that China and Nigeria recently renewed their currency swap agreement, valued at 15 billion Yuan (approximately $2 billion), to enhance trade and investment.
According to a statement signed by his media aide, Mr Bayo Onanuga, the President made this appeal and more while receiving the Minister of Foreign Affairs of China, Mr Wang Yi, at the State House Abuja on Thursday.
The President said increasing the level of currency swaps will speed up the infrastructural development in Nigeria and deepen the strategic bilateral relations.
“We still demand more in the area of currency swap. The level you have approved as a government for Nigeria is inadequate considering our programme. If you can increase that, it will be well appreciated. Our bond should grow stronger and become unbreakable,” the President was quoted to have said in a statement
President Tinubu noted that the continent’s infrastructural needs would require more commitment, urging a review of the amount to reflect the continent’s reality.
“I am happy you are part of China’s highest decision-making body. We will want you to use your position to influence improved project funding. First, I say yes to the 50 billion dollar support, and thank you for contributing to African growth.
“The infrastructural needs of Africa are greater than that, and we want to move as rapidly as our other counterparts. All share your vision of rapid development. Africa values the relationship with China, and we seek deeper collaboration for infrastructural development,” he stated.
President Tinubu also called on China to support Nigeria’s bid for a permanent United Nations Security Council seat.
“You are a member of the UN Security Council. We want you to use your influence to ensure Nigeria secures the seat,” the President said.
The Nigerian leader thanked President Xi Jinping for his warm reception during his visit to China last year.
He said Africa, particularly Nigeria, was prepared to meet developmental goals and contribute counterpart project funding
“We are ready to move and reach the various developmental goals. Due to our deliberation, we signed many MOUs and planned many action programmes.
“My visit during FOCAC was a good experience. We signed several comprehensive MOUs during the visit. We planned several programmes of action. As a result of that deliberation, I made sure that immediately after I returned, I appointed one of the best brains available to coordinate Nigeria-China relations, Mr Joseph Tegbe. He will work to actualise various MOUs and promote a greater understanding of developmental programmes.
“It is good that you came at such a critical time. My visit to China was a good experience. Once again, accept my sympathy for the earthquake in Tibet. It was a natural disaster that nobody expected. We commend your government for the rapid reaction to protect lives.
On his part, Mr Yi said Chinese investments in the country would focus on employment generation and infrastructural development. He said the Chinese National Development Bank had started funding some development projects.
He said the Chinese Government would support including an African country in the UN Security Council, adding that “it was a historical injustice by the world that should be corrected”.
“We stand with Africa, and we will not support a country that invades another country,” he stated.
The foreign minister said China would welcome Nigeria’s membership in the BRICS and participation in the global development mechanism.
He said China fully supported Mrs Ngozi Okonjo-Iweala, the Director General of the World Trade Organisation (WTO), for a second term in office.
The minister also lauded President Tinubu for his visionary leadership and consistency in projecting Africa’s needs, which require China’s support.
By Adedapo Adesanya
Nigeria has received $52.88 million recovered Galactica assets linked to a former Minister of Petroleum, Mrs Diezani Alison-Madueke, from the United States Government.
The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN) disclosed this at the formal signing ceremony of the asset agreement between Nigeria and the US in Abuja on Friday.
Delivering his remarks, Mr Fagbemi explained that $50 million of the recovered assets will be deployed through the World Bank to the development of the rural electrification project and the remaining $2 million will be deployed to the International Institute of Justice to expand the Justice system and also counter corruption.
Mr Fagbemi noted that the asset return marks a milestone in the ongoing collaboration between Nigeria and the US in combating corruption and upholding the rule of law
He said the event is also a significant effort by President Bola Tinubu to address the issue of corruption.
Meanwhile, in his remarks, the United States Ambassador to Nigeria, Mr Richard Mills called for the monitoring and effectively utilizing the recovered assets by the Ministry of Justice to benefit Nigerians.
Mrs Diezani Alison-Madueke has been accused of abusing her power when she was petroleum minister under the administration of former President Goodluck Jonathan in Nigeria, including accepting financial rewards for awarding multi-million-pound contracts.
In 2023, the United Kingdom National Crime Agency (NCA) alleged that Mrs Alison-Madueke benefited from at least £100,000 ($127,000) in cash, chauffeur-driven cars, flights on private jets, luxury holidays for her family, and the use of multiple London properties.
Other charges against her also detail financial rewards, including furniture, renovation work and staff for the properties, payment of private school fees, and gifts from high-end designer shops such as Cartier jewellery and Louis Vuitton goods, the NCA said.
Since she left office, she has been dogged by corruption allegations but denies the charges.
The 63-year-old woman has been on bail since first being arrested in London in October 2015.
The US Department of Justice has recovered assets totalling $53.1 million linked to Mrs Alison-Madueke’s alleged corruption.
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