Shalom,
Victoria from Techpoint here,
- Nigerians did not lose ₦1.3 trillion to CBEX
- Ghana’s 5G launch must happen by June, Minister warns NGIC
- Starlink gets approval to operate in Guinea-Bissau
Ghana’s 5G launch must happen by June, Minister warns NGIC
Ghana’s Minister of Communication, Digital Technology and Innovations, Sam George, says he’s not joking around. Next Generation Infrastructure Company (NGIC) must deliver on its promise to roll out 5G by June 2025.
If you’re wondering, NGIC is the only company allowed to build and run a nationwide 4G and 5G network in Ghana for the next 10 years. They got the exclusive licence in 2024, which means no other provider can roll out a 5G network in the country without going through NGIC, at least until 2034.
Speaking on The Point of View with Bernard Avle on Channel 1 TV, the minister revealed that NGIC initially gave him a May deadline during the Mobile World Congress in Barcelona earlier this year. But after a few shifts, they finally settled on June. And that’s the deadline he’s sticking to.
NGIC officially launched in November 2024 and claimed it was ready to work with telcos and ISPs to get 5G up and running. But rollout deadlines have been shifting — from December 2024 to January 2025, and now June 2025 is the new D-day.
According to reports, NGIC has at least 16 5G-ready cell sites already set up, with its core networks, network operations centre (NOC), and data centres cleared by the National Communications Authority (NCA). The company also promised the minister it would have at least 350 cell sites operational by June, 200—250 in Accra and 100 to 150 in Kumasi. Of those, at least 50 are expected to be live 5G sites.
But what if they miss the mark again? “I am not a fan of terminating contracts because of the [financial] implications it has for the state, but if June comes and the story is the same we are going to have a different conversion with all options on the table. I will be open to renegotiation and restructuring of the licensing conditions,” the minister said.
He added that the NCA has the legal right to amend NGIC’s licence if needed. “They can’t hold Ghanaians to ransom forever.”
Nigerians did not lose ₦1.3 trillion to CBEX
What is CBEX? I didn’t know what that was until Monday or so? CBEX, full name CryptoBridge Exchange, claimed to be a US-registered crypto exchange offering juicy returns and all the crypto buzzwords people love. It even had a FinCEN registration document (that thing from the US Department of Treasury) to prove its legitimacy.
But here’s the catch: being on that FinCEN list doesn’t mean you’re legit. FinCEN themselves said people can just submit their details and boom, they appear on the site. No background checks or deep validation. Scammers have caught on and are using that to fool people.
CBEX went all out. Apart from the FinCEN certificate, they paraded other documents, including one supposedly signed by the Colorado Secretary of State. Fancy, right?
But now that the whole thing has crashed, it’s safe to assume those papers were most likely fake. Just vibes and fonts. What they did well, though, was marketing. They sold Nigerians a sweet dream: 100% return on investment in 30 days. Add AI-powered trading and referral bonuses to the mix, and it’s not surprising that people jumped in.
But like most things that sound too good to be true, it didn’t last. In early April, CBEX started restricting withdrawals, blaming a “security breach” and promising everything would be fine by April 15. That promise didn’t age well. Instead of a fix, users logged in to see zero balances and ghosted customer support. Panic set in, and reports started flying that angry investors even stormed the company’s office in Ibadan. This wasn’t just a small glitch; it was a full-blown rug pull.
Lately, there’s been a lot of noise online, claims that Nigerians lost ₦1.3 trillion (over $800 million) to CBEX. Wild, right? But how true is it? How much did Nigerians actually lose to the now-crashed crypto scheme? Bolu digs into it. Read the full story here.
Starlink gets approval to operate in Guinea-Bissau, Lesotho
Guinea-Bissau has officially approved Starlink to operate in the country. The announcement came from Bamba Kote, head of the country’s telecoms regulator, during a WATRA meeting in Bissau on April 10, 2025. Starlink had already received a provisional licence in December, but this makes it official. They’re now wrapping up the final paperwork before fully launching.
For context, 67.5% of Guinea-Bissau’s population lacks Internet access. The Western African country has mostly relied on two providers: Orange and Telecel, which recently bought MTN’s local ops. Both run fibre links through neighbouring Senegal and Guinea-Conakry, plus wireless beams, but outages are super common.
So, large chunks of the country are stuck with unreliable or no Internet at all. That’s where Starlink could change the game. Since it uses satellite Internet, it doesn’t rely on the same kind of infrastructure as traditional networks. It’s especially for reaching remote or rural areas that current providers simply can’t serve properly.
Now let’s head south. Lesotho has just granted Starlink a 10-year licence to operate across the country. The Lesotho Communications Authority announced that on April 14, saying the move supports the country’s digital transformation goals. With 83% of rural areas lacking Internet access, this is a major step toward bridging that digital gap.
Lesotho went all out to make this happen. The regulator did a full review of its rules to accommodate Starlink’s low-earth orbit (LEO) satellite tech, including public consultations and chats with stakeholders. That proactive approach made the licensing process way smoother and helped fast-track Starlink’s entry.
This comes in stark contrast to neighbouring South Africa, where Starlink still doesn’t operate. The reason? Local laws require telecom companies to have at least 30% South African ownership. Starlink hasn’t even applied for a licence there because of it.
Meanwhile, it’s moving full steam ahead in places like Nigeria, Kenya, Zimbabwe, and now Lesotho, clearly gunning to be a major Internet player on the continent.
In case you missed them
- Moniepoint investor takes over Egypt’s $105M Nclude with new venture fund
- Who’s building what in Enugu’s startup ecosystem?
What I’m watching
- God Said WHAT?! Top AIs Debate Bible’s Darkest Verses
- Veritasium: What Everyone Gets Wrong About AI and Learning – Derek Muller Explains
Opportunities
- Want to exhibit or attend the Lagos Startup Expo in June? Visit this website here.
- Uber has opened applications for its 2025 Account Management internships. Apply here.
- Carry1st is looking for a Community Program Manager, North Africa. Apply here.
- Want to connect with professionals in tech sales and partnerships to exchange ideas and explore how revenue growth can scale Africa’s tech ecosystem? Join Tech Sales Connect 2025 on April 19th at Gomycode, Lagos. Register here.
- Jumia is hiring a Logistics Operations Manager. Apply here.
- Airtel Africa is looking for a Home BroadBand Manager. Apply here.
- Coca Cola is hiring a Senior Director, Human Insights Africa. Apply here.
- Kuda is hiring IS-Administrator. Apply here.
- OPEC is recruiting a Production Manager in Abuja. Apply here.
Want to connect with professionals in tech sales and partnerships to exchange ideas and explore how revenue growth can scale Africa’s tech ecosystem? Join Tech Sales Connect 2025 on April 19th at Gomycode, Lagos. Register here.
- Building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
- Help us make Techpoint better for you! Your feedback shapes what comes next (your responses may potentially save my job. A bit dramatic, but still). It will only take 30 seconds to tell us what works and what doesn’t. Fill it here.
- To pitch your startup or product to a live audience, check out this link.
- Have any fresh products you’d like us to start selling? Check out this link here.
- Flutterwave is hiring to fill in several positions. Apply here.
- Paystack is hiring for several roles. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Follow Techpoint Africa’s WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a wonderful Wednesday!
Victoria Fakiya for Techpoint Africa.
