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MTN Executive to Resign Amid Issues with Nigerian Govt

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By Dipo Olowookere

There are strong indications that some executives of MTN Group will exit the telecom firm in the next few months as the company battles to resolve its issues with the Nigerian government over the reparation and payment of tax claims worth $10.1 billion.

Bloomberg said quoted people familiar with the matter as saying the Chief Innovation Officer of MTN, Mr Herman Singh, is expected to resign to establish his own tech venture.

If this eventually happens, the exit of Mr Singh will come as Chief Technology Officer Babak Fouladi prepares to join Dutch telecommunications firm, KPN NV, in a similar role next week.

MTN confirmed Fouladi’s departure, which was announced by Rotterdam-based KPN earlier this month. Singh declined to comment.

The executives are leaving after a three-year period of considerable turmoil at MTN. A shock $5.2 billion fine in Nigeria in 2015 embroiled MTN in 10 months of negotiations and prompted a management overhaul. Then earlier this year, authorities in the West African nation announced another round of multi-billion-dollar demands.

The stock has halved over the period, valuing the carrier at 169 billion rand ($12.2 billion). That’s even as demand for data services in Africa booms and MTN expands in fast-growing services such as mobile money. The company agreed to a partnership with Orange SA last week to ease payments across the continent.

The shares declined a further 2 percent on Tuesday to 88 rand as of 1.13 p.m. in Johannesburg, the steepest fall in a week.

MTN Chief Executive Officer Rob Shuter was hired from Vodafone Group Plc two years ago in the wake of the first Nigeria penalty, which was eventually settled for about $1 billion. Fouladi was lured from the same company later that year. Singh, formerly with MTN’s crosstown rival Vodacom Group Ltd., was appointed in 2015.

Another high-ranking executive, Stephen Van Coller, left MTN at the end of August to take the helm of technology firm EOH Holdings Ltd. Originally hired as head of mergers and acquisitions, the former investment banker was moved to run digital services before quitting less than two years into his tenure.

MTN’s latest dispute with Nigerian authorities is over an allegation the company illegally transferred $8.1 billion out of the country and owes $2 billion in back taxes. While the transaction matter looks close to being wrapped up, with Central Bank Governor Godwin Emefiele saying he’s on “the verge” of announcing an amicable resolution, the taxation claim is still outstanding.

Other headaches for MTN include problems extracting cash from Iran, its third-biggest market, after U.S. President Donald Trump reinstated sanctions against the country. The carrier has also come under pressure to list country units on local stock exchanges, with Uganda the latest to link a share sale to license renewals.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NVIDIA Invests in Cassava Technologies for Expansion

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cassava technologies

By Modupe Gbadeyanka

A leading Artificial Intelligence (AI) computing firm, NVIDIA, has made an undisclosed investment in Cassava Technologies.

NVIDIA joins Cassava’s impressive roster of investors comprising Econet Group, British International Investment, DFC, Finnfund, Fund for Export Development in Africa (Afreximbank/FEDA), Gateway Capital, Google LLC, International Finance Corporation (IFC), Public Investment Corporation and Royal Bafokeng Holdings.

Cassava operates across Africa, the Middle East and Latin America through a strong portfolio of business units comprising Liquid Intelligent Technologies, Africa Data Centres, Liquid C2, Cassava.ai, and Sasai Fintech, all of which are leaders in their respective sectors.

The organisation will continue collaborating with its partners and customers on the continent and beyond, establishing it as a leading technology company of African heritage.

“Cassava is Africa’s leading technology company, driving the continent’s digital transformation with digital infrastructure and digital services.

“Securing this investment is an important milestone that we expect to unlock additional value from and catalyze the further expansion of our digital infrastructure and services to bridge the digital divide on the continent,” the chief executive of Cassava, Mr Hardy Pemhiwa, stated.

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Airtel Africa Foundation Boosts Digital Skills Development in Rwanda

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Digital Skills Development in Rwanda

By Aduragbemi Omiyale

To deepen access to smartphones and digital services for underserved communities, Airtel Africa Foundation has joined forces with others to train some persons in Rwanda.

This aligns with Rwanda’s ambition to become a knowledge-based economy and complements national programmes such as Connect Rwanda.

The organisation is collaborating with the International Telecommunication Union (ITU), Rwanda Information Society Authority (RISA) and Cisco on capacity and digital skills development under the Digital Transformation Centres (DTC) Initiative.

The parties will bridge the digital divide and promote digital inclusion by providing free Internet connectivity and digital skills training to underserved communities in the country, in connection with the advancement of the 2030 Agenda for Sustainable Development.

ITU will provide digital skills training content to the DTCs under the Initiative along with other ITU regional capacity development activities. In addition, ITU will facilitate networking opportunities related to promoting digital literacy and inclusion, which will enable access to expertise and best practices.

It was disclosed that Airtel Africa Foundation, through Airtel Rwanda, would equip DTC locations with routers, Wi-Fi and data packages at no cost, ensuring the effective rollout of training and access to digital educational platforms.

According to the chief executive of Airtel Rwanda, Mr Sujay Chakrabarti, the collaboration marks a significant step forward in bridging the digital divide and empowering Rwandan youth with digital skills.

He described the partnership as “a powerful example of what happens when government, private sector, and international organizations come together to empower communities.”

“This partnership reflects our commitment to supporting national development goals and closing the digital divide through meaningful collaboration,” said the Head of Programs at Airtel Africa Foundation, Ms Esi Asare Prah, said on behalf of the chairman of the foundation, Mr Segun Ogunsaya.

“We are honoured to partner with ITU to bring this vision to life and contribute to Rwanda’s journey toward becoming a digitally empowered society,” he added.

Also, the Regional Director for International Telecommunication Union (ITU), Mr Emmanuel Mannaseh, said, “Our partnership with Airtel Africa Foundation begins in Rwanda, where we are joining forces to strengthen digital skills in underserved communities to advance connectivity. This initiative lays the groundwork for broader regional collaboration, as we aim to expand this work to other Digital Transformation Centres across Africa.”

On his part, the chief executive of Rwanda Information Society Authority (RISA), Mr Antoine Sebera, said, “What we are seeing here today is partnership in action. Statistics show that 900 million people in Africa remain unconnected, extra effort needs to be made to make sure that no one is left behind.

“This positions Rwanda a step ahead by being intentional to involve the youth. These centres are going to play a transformative role in educating the youth to leverage AI. Digital Transformation is driving the world and Africa or Rwanda cannot be left behind.”

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OpenAI Launches Browser to Compete with Google, Others

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openai browser ChatGPT Atlas

By Faridat Yusuf

OpenAI, the creators of ChatGPT, has launched a new web browser called ChatGPT Atlas, powered by artificial intelligence (AI) and is said to be a big competition to Google Chrome and other browsers.

The new browser, which was announced on Tuesday, aims to change the way people search and browse online. Instead of typing keywords like on Google, users can just talk to ChatGPT inside the browser, and it will summarise information or even do tasks for them.

According to Reuters, OpenAI already has about 800 million weekly users on ChatGPT,  and with Atlas, the company is now trying to bring AI into people’s daily internet use.

Atlas allows users to open a ChatGPT sidebar in any browser window to summarise web pages, compare products or even analyse data from websites.

Business Post gathered that there is also an “agent mode” for people who pay for the premium version of the service. This feature lets ChatGPT perform online tasks, to make “improvements that make it faster and more useful by working with your browsing context.”

During the demo, OpenAI developers showed how ChatGPT used Atlas to go on the Instacart website and add items to the cart all by itself.

For now, the browser is available globally on Apple computers (macOS), but OpenAI says it will soon release versions for Windows, iPhones, and Android phones.

Experts say Atlas could become a serious challenge to Google Chrome, which currently controls about 71.9 per cent of the global browser market. Google’s parent company, Alphabet, saw its shares drop by 1.8 per cent after the announcement.

Google, which has majority of the online search market share, has also been trying to improve its browser using its Gemini AI model, which is now part of Chrome for US users.

Analysts believe OpenAI’s new browser might later start showing ads, which could make it compete directly with Google’s advertising business.

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