Hello, Can You Hear Me? 🤳🏾
#197: The more we connect and share, the more we enrich each other's lives - Roy T. Bennett
Hello Venturer,
Happy new month! I can’t believe we are in the last month of the first quarter of 2024. It feels like it wasn’t long ago I wished you a prosperous new year. How’s that going so far? Well, mine has been interesting. You see, I live in the bustling city of Lagos, Nigeria. And if you’ve been keeping up with the news, (as I suppose you are, else you wouldn’t be a venturer), you would know that the economy has been volatile. But you see, I maintain that this is the year, I become a billionaire in dollars. Sharing updates and experiences like this is what keeps us connected, even across continents. Imagine, if we lost contact.
This week, over 9 million Nigerians experienced this disconnect when top network provider MTN Nigeria, had a major outage that disrupted its voice and data services for several hours. Yet, MTN's challenge is just one thread in the tangled web of network disruptions in Nigeria. Since January, Airtel and Glo, both major network providers in Nigeria, have experienced significant disruptions for most users across the country. MTN has since restored its network service. Still, I can’t stop thinking about how the concept of a "global village" would cease to exist, if these outages persist. Connectivity is an essential tool for progress on all fronts. Yet, it feels like a blessing we underrate. This week, we look at the cause of these mobile network disruptions and the cost they incur for the Nigerian economy.
Suotunimi Orufa
Writer, Ventures Africa
What’s new?
How much are consistent network outages costing businesses in Nigeria?
Recently, MTN Nigeria experienced a prolonged complete network shutdown that, disrupted its voice and data services for several hours. Yet, MTN’s challenge is just one part of the bigger problem. Read more.
Key takeaways from the CBN’s MPC meeting
The Central Bank of Nigeria (CBN) finally held its first Monetary Policy Committee (MPC) meeting since its new governor resumed office. Here’s what was discussed.
Paramount+ and MultiChoice deal is significant for several reasons
Multichoice announced a new licensing agreement with Paramount Global Content Distribution, known for its distribution of premium content across diverse media platforms. Read more.
These African countries have had the lowest unemployment rate in the last five years
Here is a list of the African countries that have achieved meagre unemployment rates in the last few years despite other economic challenges. Read here.
Egypt’s road to economic recovery may take longer than expected
As of today, Egypt’s economy is saddled with significant challenges that have persisted since 2020. Learn more.
Weekly Economic Index: A fight for the naira, ECOWAS’ reversed sanctions and Zambia’s restructuring
Here are the top three stories you should keep in mind from Africa’s business space. Read here.
Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we leverage new technologies to amplify our cultural influence. Read our latest magazine issue to learn more.
Our Weekly Collectibles
How much would it cost to monetize your happiness? Discover the economics of happiness.
Tech companies can't get enough of Nvidia, the chipmaker powering the AI revolution. Find out why There's No AI Without Nvidia. Meet the CEO Powering the Future.
Influencers from Africa are moving to the largest Latin American country, where the creator economy is booming. Meet the Portuguese-speaking African creators making it big in Brazil.
#VANUGGET
