Privet,
Victoria from Techpoint here,
Dear Reader,
Can you believe it? It’s the very last day of 2024, and this is my final email to you this year! Honestly, it’s been an incredible ride, and I’m so glad you’ve been part of it. Whether you opened Techpoint Digest everyday, skimmed through it on your busiest days, clicked a link, answered a quiz, replied to an email, or even gave us a shoutout on X, WhatsApp, or LinkedIn — you’ve made this journey so worth it.
Thank you! You’re the reason Techpoint Digest has thrived this year, and I couldn’t be more grateful for your love and support.
Now, let’s talk about this time of the year — the “New Year, New Me” season. Did you know that over 60% of people set resolutions, but only about 8% actually stick to them? Here’s another fun fact: most New Year’s resolutions don’t survive past February.
And honestly, I get it. Setting goals is great, but what really matters is knowing where you are right now and where you want to go. Success means different things to different people, and that’s okay. It could be about crushing it in your career, spending more time with family, or simply finding peace. Whatever it is, understanding your version of success is the key to moving forward.
Once you’ve figured that out, consistency is the game-changer. Little steps, showing up daily, and doing the work — that’s how you hit your goals, not just some January promises that fade away by March. So, as we step into 2025, don’t stress too much about resolutions — they are great, by the way. Just focus on showing up and doing your best, day by day.
Speaking of showing up, thank you again for showing up for Techpoint Digest this year. Your engagement, feedback, and support mean the world to me, and I couldn’t ask for a better reader. If you’ve got suggestions on how I can make this newsletter even better in 2025, hit that reply button — I’m all ears. I value your feedback. I know you know that already.
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But really, nothing’s changing tomorrow. It’s just another day. So let’s keep showing up, staying consistent, and making each moment count.
Here’s to a brighter, smarter, and even better 2025! Happy holidays, and write to you next year.
Here's what I've got for you today:
- Meta’s day in court: $220M fine on the line
- Africa’s tech year in review?
Meta’s day in court: $220M fine on the line
Meta’s drama in Nigeria is heating up. The company, along with WhatsApp, is fighting a massive $220 million fine slapped on it by Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC).
This all started in July 2024, with accusations of unfair practices and data privacy violations. Initially, the fine was a jaw-dropping $6.18 billion but was later reduced to focus more on resolving the issues instead of punishing Meta.
Now, Meta is calling the fine excessive and claims it’s not even backed by Nigerian law, but the FCCPC isn’t backing down. They’re saying this is about protecting consumers and showing that Nigeria means business when it comes to enforcing digital laws. The final decision will be made in court on January 28, 2025, so this is one to watch — it’s setting the tone for how Nigeria handles big tech.
Meanwhile, Nigeria’s telecom operators are sounding the alarm and it’s a bit scary. Per Nairametrics, they’re saying they might shut down services in certain areas in 2025 if they don’t get approval to raise tariffs. These operators, under the Association of Licensed Telecommunications Operators of Nigeria (ALTON), are struggling to keep up with rising costs, crazy inflation, high energy prices, and unstable exchange rates.
They’ve been asking for a tariff review since last year, arguing that every other industry has adjusted their rates except them. But here’s the catch: the Nigerian Communications Commission (NCC) has to approve any price hike, and they’ve been dragging their feet, doing a study to see if it’s justified.
ALTON is warning that without action, the telecom sector could crumble, and that would be disastrous for critical services like healthcare, security, and education. It’s a tough spot, and it really shows how much pressure these companies are under.
Over in Congo, some big moves are happening in the telecom scene. Congo Telecom has officially entered the mobile network game, a major step for the country’s digital growth. The announcement came on December 23 from Minister Léon Juste Ibombo, and they’ve already tested calls with MTN and Airtel Congo — successfully, too.
This is a big pivot for Congo Telecom, which has mostly focused on fixed lines and fibre optics until now. Their goal? To become the top digital operator in the country by 2030.
It’s all part of their “Transform” strategy, aimed at shaking up the sector, improving services, and competing with giants like MTN, which currently holds 60% of the market. More competition could mean better options for consumers, so this is exciting news for Congo.
Africa’s tech year in review?
2024’s been a wild ride for African tech, full of drama and big moments that kept me hooked. Let me share a few stories to jog your memory on what went down this year.
First up, the Canal+ and MultiChoice saga had me on edge all year long. It all started on January 31 when Canal+, a French media company, announced plans to buy MultiChoice, the South African pay-TV provider, for R31.7 billion ($1.6 billion). They offered R105 per share, which was 40% more than its value at the time.
Canal+ already owned a big stake (31.7%) in MultiChoice and had been gradually buying more. However, the company turned down the offer. By March, they upped the bid to R125 per share ($2.9 billion). Fast forward to May, they owned 45.2%, with regulators now reviewing the deal. If all goes well, the buyout could be finalised by 2025.
In February, Nigeria's Economic and Financial Crimes Commission (EFCC) detained two Binance executives: Tigran Gambaryan, the head of financial crime compliance, and Nadeem Anjarwalla, the regional manager for Africa.
They faced allegations of laundering over $35 million and manipulating the naira. Anjarwalla managed to escape custody in March, while Gambaryan remained detained, with his health deteriorating during his eight-month imprisonment. In October, Nigerian authorities dropped the charges against Gambaryan on medical and diplomatic grounds, allowing him to return to the U.S. for treatment.
Starlink, on the other hand, has been expanding across Africa in 2024, adding several new countries to its list. Before this year, it was already available in places like Nigeria, Mozambique, and Zambia. In August, Starlink got the green light to operate in Chad, aiming to boost Internet access there. By December, it officially launched in Cape Verde, making it the latest country to adopt the service.
However, the expansion hasn’t been without hiccups. In November, Namibia ordered Starlink to stop operating because it didn’t have the right licences. Mali temporarily lifted its Starlink ban for 6 months to give time for a new regulatory framework. Meanwhile, Starlink's arrival in Zimbabwe caused local ISPs to cut prices, as the satellite provider's terminals sold out fast, sparking more competition in the country's Internet market. In Kenya, Safaricom pushed for satellite providers like Starlink to team up with local mobile networks, raising concerns about independent licences.
Let’s dwell a bit in Kenya. In the Eastern African country, the controversial Finance Bill 2024 sparked nationwide protests. The bill aimed to raise KSh 346 billion in taxes for debt repayment and development. After public outcry, the government dropped some hot-button provisions like the 16% tax on bread. Still, Kenyans weren’t buying it. Later in the year, the government made moves to tax content creators, though details are still emerging.
Ghana faced its own tax battles. In April, the government announced plans to tax Ghanaians’ foreign incomes to fill a revenue gap after ditching VAT on electricity. The initial VAT sparked a public uproar, leading to its cancellation and a GHC 1.8 billion ($134 million) deficit.
In Nigeria, Microsoft made headlines. Reports that Microsoft shut up shop were misleading. While its Africa Development Center (ADC) in Lagos, focused on innovation, closed down, Microsoft Nigeria’s sales and support teams remain fully operational. However, the company scaled back, reducing office space in Lagos, with hints they might exit Kings Tower entirely by 2025.
Egypt had a busy telecom year. In January, Telecom Egypt secured the country’s first 5G licence for $150 million. By October, Vodafone, Orange, and e& Egypt joined the 5G party with phase-two licences. Besides, November saw telcos mulling price hikes in the country for the second time in the country this year.
Meanwhile, in Nigeria, after considering raising data, call, and SMS rates without regulator approval, telcos looked into a load-shedding strategy to manage services due to financial pressures, all while pushing for the tariff hikes. But just yesterday, I mentioned that the word on the street is we might see a 40% tariff increase starting in January 2025. But the telecom watchdog quickly shut it down, calling it just a rumor and saying they haven’t approved any hike yet. Guess we’ll just have to wait and see.
In August, MTN Group reported a significant financial downturn, marking its first loss since 2016, with a loss of R7.39 billion ($414.7 million) for the six months ending in June 2024.
On the eCommerce front, South African-born Naspers reported a trading loss of R252 million ($14 million) for its subsidiary, Takealot Group. Mr D, its food delivery and logistics company, achieved profitability for the first time. Jumia, on the other hand, closed shop in South Africa and Tunisia, while Temu launched in Nigeria.
Talking infrastructure, Africa’s Horizon Fibre project made headlines as Ethio Telecom, Djibouti Telecom, and Sudatel joined forces to build a multi-terabit terrestrial fibre optic link connecting Africa to Europe and Asia. The project promises faster internet and is expected to go live in 2025.
While Ghana announced plans to become the first blockchain-powered government in Africa, Nigerian President Bola Tinubu approved the launch of four new satellites, a move that's supposed to boost Nigeria’s space technology capabilities.
What’s more, Nigeria’s CBN began collecting a cybersecurity levy on electronic transactions in May. By June, it lifted its ban on new account openings for fintechs like OPay and Moniepoint, initially imposed to combat fraud. And in November, Moniepoint joined the unicorn club after raising $110 million in funding led by DPI, Google, and others.
Recently, South African neobank Tyme Group secured a $150 million investment from Brazilian fintech Nubank, elevating Tyme's valuation to $1.5 billion and granting it unicorn status.
But I can't end this without this: Africa's Internet faced major setbacks this year with subsea cable disruptions. In March, damage to the WACS and ACE cables caused outages across West and Central Africa, hitting countries like Nigeria and Ghana. By May, East Africa was also affected when SEACOM and EASSy cables got damaged near South Africa and Mozambique.
Interestingly, Google announced Umoja, a new subsea cable linking Africa directly to Australia. It’ll connect countries like Kenya, Rwanda, and South Africa to Western Australia, aiming for smoother, more reliable Internet.
On acquisitions, the journey to the Wasoko and MaxAB merger began in December 2023 with preliminary terms to create a retail giant serving 65 million consumers across eight African countries. By January 2024, both companies planned to downsize by 10% to prepare for the deal. Things hit a snag in June due to restructuring and economic challenges, delaying the process. Fast forward eight months, and the deal finally came through, marking Africa's largest tech merger.
As 2024 wraps up, it’s obvious that the African tech scene isn’t slowing down anytime soon with stories like these! So, what are you expecting from 2025? More drama, big moves, or something completely unexpected? Hit the reply button, let me know!
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Opportunities
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Enjoy every second!
