Telecoms group asks NCC to stop MTN from acquiring 9Mobile 

November 27, 2023
6 min read
MTN's office

Below is a delayed version of our flagship newsletter, Techpoint Digest

Every weekday, 30,000 subscribers get a fun 5-minute roundup of happenings in African and global tech, directly in their inbox, hours before everyone else.


November 25 marks the start of a 16-day campaign of violence against women and girls.

Violence against women is any act of gender-based violence (GBV), whether committed in public or private, that causes, or is likely to cause, physical, sexual, or psychological harm or suffering to women. This includes threats of such acts, coercion, or arbitrarily depriving women of their freedom.

Why does it matter? One in three women worldwide, or about 736 million, have experienced intimate partner violence, non-partner sexual violence, or both at some point in their lives.

I’ll like you to join this campaign to end violence against women and girls at work, home, school, online, or any other setting. What must you do? Lend a voice. Like this year’s theme, invest in preventive measures. How do you do that? You could use your platform to sensitise people on why GBV is a big deal and how women and girls can protect themselves.

On preventive measures, there is a Nigerian startup that works to prevent sexual and gender-based violence, such as sexual assaults and rape. The platform also offers tools for victims and survivors to recover. If you want to know more about the company, look out for my article today by 9 a.m. WAT. 😊

Here's what I've got for you today:

  • Police nabs politician linked to Patricia's security breach
  • Telecoms group asks NCC to stop MTN from acquiring 9Mobile
  • Saviu Ventures closes an initial €12 million for its second fund

 Police nabs politician linked to Patricia's security breach  

Four people arrested for involving in Patricia's hack

Remember when Patricia announced a security breach on its platform?

The latest update on this matter reveals the Nigerian Police have arrested Wilfred Bonse and his henchmen linked to the $2 million hack.

Be the smartest in the room

Join 30,000 subscribers who receive Techpoint Digest, a fun week-daily 5-minute roundup of happenings in African and global tech, directly in your inbox, hours before everyone else.
Digest Subscription

Give it a try, you can unsubscribe anytime. Privacy Policy.

Patricia said the hackers used politicians to launder stolen funds from the company.

Bonse, a Governorship aspirant in the 2023 gubernatorial elections in Cross River State, reportedly stole ₦607 million ($750,000) from Patricia.

Muyiwa Adejobi, the police PRO, stated that the Nigeria Police Cybercrime Centre was responsible for the arrest.

Per Adejobi, "The Centre has made progress in the investigation of the complex financial fraud reported by Patricia Technologies Limited. The case involves criminal conspiracy, unauthorised modification of computer systems, network, data, and the unlawful diversion of funds."

The PRO also noted that Bonse "registered his involvement" in laundering ₦50 million ($61,800)" originating from the fraudulent diversion of ₦607 million from Patricia's account to his bank account through a cryptocurrency wallet."

Patricia CEO Hanu Fejiro said, "This is not all the monies lost, but recovery from this would go a long way to soothe Patricia users."

Zoom out: This news comes four days after the company promised to pay the first batch of back customers. While several customers reported not getting any payment, the company insists it started payouts on November 20.

Telecoms group asks NCC to stop MTN from acquiring 9Mobile

MTN's office

Remember this? MTN to reportedly acquire 9Mobile's spectrum

What's new? The National Association of Telecoms Subscribers (NATCOMS) has called on the Nigerian Communications Commission (NCC) to stop MTN from acquiring Emerging Markets Telecommunications Service Limited (9Mobile).

Why? NATCOM said the move could create an oligopoly if allowed.

NATCOMS President, Deolu Ogunbanjo, stated that since MTN already controls nearly 50% of Nigeria's telecom market, there is no reason to support the telco's proposed acquisition of 9mobile.

Interestingly, reports indicate MTN Nigeria's strategic acquisition of 9Mobile is at an advanced stage.

But why’d 9Mobile offer to sell its spectrum? In 2017, following the departure of its primary technical partner and investors, Mubadala of the United Arab Emirates (UAE), 9mobile faced financial difficulties, deciding to sell its spectrum.

For context, 9Mobile reportedly defaulted on a loan repayment scheme of $1.2 billion. It cited an economic downturn and a drop in naira valuation as the reasons for its inability to pay back.

Well, this isn’t the first time MTN attempted to acquire 9Mobile. In 2017, MTN tried doing so.So, what’s going to happen next? Will the telecoms regulator grant the association's request and halt the acquisition, or will the deal go through? Let’s wait and see how things unfold.

Saviu Ventures closes an initial €12m for its second fund

Saviu Ventures

After five years of launching its first €10 million ($10.94m) fund, Saviu Ventures has closed an initial investment of €12 million ($13.12m) for its second fund from multiple investors, including family offices in Kenya and France.

The venture capital firm intends to close its second fund at €30 million ($32.84m) and €50 million ($54.74m), which will invest primarily in Francophone African startups.

Benoit Delestre and Samuel Touboul founded Saviu Ventures, which has been active in the Francophone Africa startup scene since 2018.

The VC is sector-agnostic and invests in seed-stage startups. However, with its current fund, it is particularly interested in fintech, healthtech, and climate tech companies, and it is letting up on eCommerce, mobility, and logistics.

Saviu intends to stick to the same approach as its first fund, allocating most of its capital to Francophone startups. However, it will still consider investing in startups from East, Southern, and North Africa eager to expand into Francophone Africa.

The firm, which looks for "sustainable companies" and provides financial investment and business development support, plans to invest between €500,000 ($547K) and €3 million ($3.28m) in 15 to 20 post-revenue startups with its second fund.

The second fund has already invested in three companies: Workpay, a HR payroll service; Rubyx, a Senegalese digital lending SaaS provider; and Waspito, a Cameroonian health tech.

Saviu's first fund invested in 12 startups, 82% from the Francophone region, ranging from €250,000 ($273K) to €500,000 ($547K). Anka (Afrikrea), an eCommerce platform; Julaya, an Ivorian neobank; Zanifu, a Kenyan digital lender; Lapaire, an eye-wear retailer with operations in Ivory Coast, Mali, Burkina Faso, Benin, and Togo; and Paps, a Senegalese e-logistics startup, are among its portfolio companies.

Last week on Techpoint Africa

What I'm reading and watching


  • Lawyers Hub has opened applications for its 2023 Startup Law Accelerator program. Apply here.
  • If you are a female between the ages of 18 and 28 who lives in Africa and is interested in pursuing a career in cybersecurity, apply for the CyberGirls Fellowship by December 11, 2023 here.
  • Apply for the Women Who Code fellowship by November 25, 2023 here.
  • Do you live in Nigeria and work with a local or foreign company? Whether it's remotely, on-site, hybrid, full-time, part-time or as a freelancer, @TheIntelpoint is trying to understand the Nigerian workspace: how you work, and toxicity in the workspace among others. Please, fill out the questionnaire here.
  • If you are a software engineer, creative designer, product manager, design researcher, or a techie looking for an internship role, please, check out this website.

Have a productive week!

Victoria Fakiya for Techpoint Africa.

She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.
She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.
She's autistic and interested in mental health and how technology can help Africans with mental disorders. Find her on Twitter @latoria_ria.

Other Stories

43b, Emina Cres, Allen, Ikeja.

 Techpremier Media Limited. All rights reserved