MTN Group Appoints Integrated Global Agency

MTN has appointed Omnicom Group as its integrated global agency. This follows a rigorous evaluation process, which began in March 2016, when six major global agency networks were invited to tender.

Three agencies proceeded to the second round late last year, with Omnicom selected based on having met the functional and commercial requirements. 

These requirements were scope of work and specialisation, industry and geographic track record, proposed resources (footprint, team and transformation agenda), and specified risk and financial parameters.

The appointment of Omnicom Group spans the areas of brand, media, digital, public relations, internal communication and sponsorships, across MTN’s functional areas of Marketing, Consumer, Enterprise Business, Digital Services, Corporate Affairs, Human Resources and Investor Relations at a Group level, as well as the company’s operations in 22 markets.

Customer Laments Infinix Zero 3 Battery Menace

REPORTS indicate that Infinix is gradually emerging as one of the leading producers of Android Smartphones that offers something big for a small price. Yes, the firm has quickly carved a niche in the delivery of high quality mobile phones at affordable prices in half a decade.

Beyond producing affordable smartphones, Infinix is unique in the sheer wide range of its products, the sleek designs, the OS and the generous memory space.

A big challenge with Infinix smartphones however has always been battery life. The Infinix Zero 3, the latest addition to “Zero” series has plenty of issues in this regards.

This phone might have potential, but the battery problem is its number one undoing. The battery doesn’t only drain fast, the phones also heats up when charging and during heavy usage.

Oh, and there is the little fact that you can’t open it up anywhere. It is a brick i.e. the battery is non-removable.

So you have a situation where the device is cleek, and great to use but the battery is un-detachable from the device. So there is no way to change or replace it when you need to.

….except maybe you visit the Infinix service centre.

This is my problem, I have visited the service centre in Ikeja and they claim to have fixed the issue – the phone stopped charging. Never mind that it took over 4 weeks and I was made to cough out N4, 150.

Less than a month later, the exact same issue came up again. The phone stopped charging. This time the Infinix repair centre have all sort of reasons for refusing to accept it for repair.

I am flabbergasted. Are these guys for real?

I have the receipt showing the last transaction but now they insist on the receipt of purchase. I don’t have this. The pack, with all the accompanying cards, was sufficient the first time, so what has changed?

I suspect they know the problem is recurrent and are trying to dodge responsibility.

Is this the way of a responsible company? Is Infinix now a ‘brief-case’ phone retailer? Where is after sales support if a phone can’t be fixed by the manufacturer’s service centre?

Mind you, I’m not against paying to achieve this.

So is Infinix Zero 3 a fraud?

AFC Issues $150m Maiden Sukuk

AFRICA Finance Corporation (AFC), a pan-African multilateral development finance institution and project developer, has issued its maiden Sukuk, the highest-rated ever Sukuk issuance from an African institution.

 

Following high levels of investor interest, the initial target of $100 million was more than twice oversubscribed, resulting in the transaction being upsized to $150 million and a final order book of approximately $230 millionIn addition to being the first Sukuk transaction of 2017, it is also the first Sukuk to be issued by an African supranational entity.

The Sukuk is AFC's second foray into Islamic finance; the corporation accepted a $50 million 15 year line of financing from the Islamic Development Bank (IDB) in 2015 to finance Islamic Finance-compliant projects located across the numerous African IDB member countries.

The privately placed 100% Murabaha Sukuk, which has been awarded an A3 senior unsecured rating by Moody's Investors Service, has a three year tenor and will mature on 24 January 2020. 

 President and CEO of AFC, Andrew Alli, commented on the announcement: "The core values of Islamic finance, the need to invest ethically in assets that have a tangible positive social impact, made a Sukuk issuance a natural choice for us. We offer global investors the chance to be involved in high-impact infrastructure projects that not only promote social and economic development across Africa but also generate economic returns for our investors.
 

"This Sukuk represents a milestone in our financing activities, a milestone that will enable us to further diversify our funding sources, to build new relationships with key investors in international markets and help us diversify our portfolio of projects to continue delivering real impact across the continent."

CEO of Emirates NBD Capital, Ahmed Al Qassim, added: "Emirates NBD Capital is delighted to have supported the inaugural $150 million 3 year Sukuk issuance. The successful completion of the transaction is a testament to AFC's standing with the international investor community and AFC's commitment to develop new sources of funding.

"As the Sole Global Coordinator for the Sukuk, Emirates NBD Capital continues to lead the development of international Sukuk as a product and providing our clients with unique solutions to meet their funding requirements."

AFC has a diverse funding base, with a range of funding from sources across different markets. Last year the corporation issued its debut Swiss Franc denominated long three-year bond, raising CHF 100 million, and accepted a $150 million 15 year loan facility from KfW Development Bank. In 2015 AFC's inaugural 144A/Reg S, $750 million 5-year international bond was more than six times oversubscribed at over $4.7 billion, attracting institutional investors from across Asia, Europe, Middle East and the United States.

The Corporation will celebrate its 10th anniversary in 2017 at the AFC Live Summit, which will bring together many of the top international players in African infrastructure investment for high level discussions on the industry's many challenges, and potential solutions.

Minister Warns Against MTN Exit From Nigeria

THE Minister of Communications, Mr. Adebayo Shittu has warned against actions that are capable of making MTN Nigeria, the largest telecommunications company in the country and the network with the widest coverage to exit the country, particularly the investigations into the alleged illegal money transfers by the National Assemble.

 

The minister, who expressed over possible implications of the exit on the economy considering it’s over $1 billion, said that "Nobody will say that MTN is not important to Nigeria-we must encourage them, we must not scare them away from Nigeria." 

Shittu told Reuters in an interview, that "The presumption is that they are innocent and we pray they remain innocent. They must stay."

 According to reports by Bloomberg MTN illegally moved $14 billion out of Nigeria quoting statements by  lawmakers who also accused MTN of moving money out of Nigeria since 2006 to avoid paying tax.

 

Lawmaker Dino Melaye brought the matter to the senate on Sept. 27, according to Bloomberg. Melaye alleged that four banks helped MTN move the money: Citigroup, Standard Chartered, and Nigerian lenders Stanbic IBTC Holdings and Diamond Bank. The senate confirmed in a tweet that it would be investigating the matter.

But MTN Nigeria CEO Ferdi Moolman said in a statement on September. 28, 2016 that “The allegations made against MTN are completely unfounded and without any merit.” 

MTN said that it complied with Nigerian fund transfer rules and did not send money out of the country until it obtained regulatory approvals, denying allegations that it illegally repatriated $14 billion.

MTN requested "certificates of capital importation (CCI)" for capital brought into Nigeria and dividends were repatriated based on those investments, Ferdi Moolman, chief executive of MTN Nigeria, said in a statement.

"MTN Nigeria only requested for CCIs for foreign capital that was imported into Nigeria, and dividends were externalised on CCIs," he said.

The allegations come months after MTN settled a $1.7 billion fine with Nigerian communications regulators over unregistered SIM cards. In August, parent company the MTN Group reported disappointing interim results, posting a loss of 271 cents a share.

FG Tasks New NCC Board On Quality Of Service

WORRIED by the downward slide in oil revenue in the international market, attention has been shifted to non-oil revenue to sustain the National economy, the Communications Minister, Barrister Adebayo Shittu has charged the newly constituted board of the Nigerian Communications Commission to focus on giving Nigerians quality service.

He said at the inauguration of the nine-man board of the Commission that  “Attention must shift to other critical sectors that can re-galvanize our economy. Consequently, leveraging on telecommunications and information technology is now obligatory.”

He explained that the many years of telecoms revolution in Nigeria have been quite rewarding although more still needs to be done by the stakeholders, “in order to continue the auspicious march toward fully transforming Nigeria into a truly digital and knowledge-based economy”.

According to him, a National ICT Roadmap has been put in place with a commitment to refocus the Telecoms sector as an enabler for sustainable development.

This he said, will enable the country optimise opportunities for wealth and job creation as well as increase revenue generation for government.

The world is increasingly being technology-driven and ICT remains a key driver of the economy of all progressive nations, Shittu said.

The Minister told the board members led by Senator Olabiyi Durojaiye that during this national assignment, you should selflessly contribute your rich experiences to shape the development of the industry.

Riding on the crest of the NCC Act 2003, the Minister listed some of the board’s responsibilities to include but not limited to formulating several policies for the regulation and development of the Communications industry.

Responding on behalf of the board, Durojaiye thanked the President “for giving us the opportunity to serve our nation. We want to assure the President and members of the public that by the grace of God we will not disappoint the nation”.

Durojaiye added that the board members will try our best to ensure a level playing ground for operators in the industry and ensure they play the game according to the rules”.

Other members of the board include Prof. Umar Danbatta, the Executive Vice Chairman/Chief Executive, Engr. Ubale Maska, Executive Commissioner (Technical Services), Mr. Sunday Dare (Executive Commissioner, Stakeholder Management). The non-executive Commissioners include Mr. Clement Omeiza Baiye and Senator Ifeanyi Ararume.