Hello
Delight here,
Here’s what I have for you today:
- Nigerian art-tech startup expands to the US
- Starlink delays launch in Uganda
- NCC and CBN to settle USSD debt case
Nigerian art-tech, Raknida expands into the US
In October, we talked about the Nigerian art tech company, Raknida which was looking to launch a platform where you would be able to stream art like you do for music.
What's new? The art tech company has just secured a $100,000 grant to expand into the US. It got the grant from Arch Grant, a non-profit that awards $100,000 grants to businesses in St. Louis, USA through a startup competition.
Following this development, the company will move 51% of its business to St Louis, US, expanding its reach and leveraging the flexibility that comes with the grant to build a physical presence there.
Raknida is set to thrive in the US art scene which held 42% of the global market in 2023.
Also in 2023, the US was the country with the highest investment in art tech worldwide with 395 investments.
While art streaming may still be a fresh idea in the Nigerian market, many countries have already tapped into that space with platforms like Twitch, Picarto and Behance.
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However, Raknida is not forgetting its mission of getting recognition for underrepresented artists, but this time that mission is going beyond Africa to all over the world.
Well, what happens to Raknida now? Find out here.
Starlink delays launch in Uganda
Starlink has postponed the launch of its Internet satellite services in Uganda as regulatory approval is still pending.
Earlier scheduled to roll out by the end of 2024, the SpaceX subsidiary will now go live in Uganda by 2025, as shown on the Starlink availability map.
The Ugandan government had already announced plans to reduce Internet rates by one-third, which is almost by half, in January 2025.
While the government had expressed optimism for the adoption of fibre optic and satellite network services in the country, foreign companies like Starlink will still need to set a regulatory framework that would work for both itself and the regulatory bodies.
Although Starlink’s Internet could drive better connectivity, and communication services, and boost sectors like fintech, e-commerce and education, the overall affordability of its service remains a concern.
Pricing details for Uganda have not yet been confirmed, but a comparison with other countries provides insights as to what we could expect.
Starlink has faced licensing issues in several African countries including Zimbabwe, The Republic of Congo, Guinea, Botswana, Cameroon and Sudan. Its large-scale infrastructure presents challenges for governments, particularly regarding tax revenues and regulatory oversight.
NCC and CBN to settle USSD debt case
The Nigerian Communications Commission (NCC) together with the Central Bank of Nigeria (CBN) is looking to resolve a case of Unstructured Supplementary Service Data (USSD) debt between telecom operators and commercial banks.
The ₦250 billion debt had accumulated over time with telcos bearing the brunt as users accessed the USSD service for free.
Here's the backstory: In 2019, telecom operators proposed a ₦4.50 per 20 seconds charge for the USSD service to cover its operational costs. However, banks rejected this proposal claiming that a 450% transaction hike would increase the debt and negatively impact the relationship between the two sectors.
Now, telecoms have stated that banks will likely be cut off from the USSD platform as the debt keeps piling from the continuous use by their customers, after years of operating the service free.
The NCC and CBN are working to establish a smooth resolution to the issue while taking into account that most Nigerians are dependent on the transaction service.
Director of the Consumer Affairs Bureau at NCC, Ikechukeu Adinde, stated that in the coming months, telecom operators will provide detailed information concerning tariff plans, billing rates and the terms and conditions for their services.
In case you missed them
- Benin steps into 5G era with MTN’s commercial launch
- MultiChoice fights Competition Commission ruling over SABC deal
- ariika secures $3 million Series A extension to fuel MENA expansion
What I'm watching and reading
- Van Gogh: Tormented Genius
- Wicked Columbus, Indiana by Paul Hoffman
Opportunities
- Join Opeyemi Olugbemiro at Pitch Friday on December 13, 2024 and discover the art of storytelling that wins customers. Apply here.
- Flutterwave is currently looking to fill several vacancies. Apply here.
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Have a terrific Tuesday!
Sunny Delight for Techpoint Africa.
