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GOVERNMENT MOVES TO REVIEW MTN NIGERIA’S TARIFFS FOLLOWING DECLARATION AS DOMINANT OPERATOR FOR MOBILE VOICE TELEPHONY

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NCC says that MTN Nigeria has 44 per cent market share of the mobile voice telephony market while there is also a wide differential of about 300 per cent between on-net and off-net calls "and this is indicative of the likely establishment of a calling club for MTN subscribers."

NCC says that MTN Nigeria has 44 per cent market share of the mobile voice telephony market while there is also a wide differential of about 300 per cent between on-net and off-net calls “and this is indicative of the likely establishment of a calling club for MTN subscribers.”

 

By Technology Times Staff Reporters

NCC says that MTN Nigeria has 44 per cent market share of the mobile voice telephony market while there is also a wide differential of about 300 per cent between on-net and off-net calls "and this is indicative of the likely establishment of a calling club for MTN subscribers."

NCC says that MTN Nigeria has 44 per cent market share of the mobile voice telephony market while there is also a wide differential of about 300 per cent between on-net and off-net calls “and this is indicative of the likely establishment of a calling club for MTN subscribers.”

Lagos. April 28, 2013: The Nigerian government plans a major shakedown of MTN Nigeria operations after a probe revealed that the South African mobile phone company’s control of 44 per cent of mobile voice telephony service undermines competition in the telecoms industry.

MTN Nigeria has been declared dominant operator in the mobile voice telephony voice business by the Nigeria Communications Commission (NCC) and the company will be forced to review its call rates as part of the tougher scrutiny to be imposed on its operations as from May 1, this year by the telecoms regulator.

Eugene Juwah, the Executive Vice Chairman of Nigeria Communications Commission (NCC), who announced the “Determinations of Dominance in Selected Communications Markets in Nigeria” that comes into force from May 1, this year, says that it was the outcome of a study conducted to check abuse of dominant market power by operators and ensure that Nigerian consumers get a better deal.

Juwah says that the implications of the declaration on MTN Nigeria will see its operations coming under stricter regulatory scrutiny to guard against abuse of its market position in the mobile voice telephony.

The regulatory determination is part of a widespread shakeout in the telecoms market where the regulator says that anti-competitive acts by the big players have stifled open competition in the marketplace.

Juwah says that MTN Nigeria has 44 per cent market share of the mobile voice telephony market while there is also a wide differential of about 300 per cent between on-net and off-net calls “and this is indicative of the likely establishment of a calling club for MTN subscribers.”

The implications of designating MTN Nigeria a “Dominant Operator” in the mobile voice segment of the Nigerian telecoms market is that NCC will now impose regulatory sanction under which regulator will now enforce and implement Accounting separation of the South African mobile phone company, the regulator says.

NCC says it will take steps to collapse the on-net and off-net retail tariffs for MTN Nigeria whereby the differences between the two rates will become and remain the same.

MTN”s operations in Nigeria will also come under stricter regulatory scrutiny as the newly-designated dominant operator will be required by NCC, “to submit details on specific aspects of its operations from time to time as the need arises.”

Following the ruling, NCC says that it will also undertake “a determination of pricing principles to address the rates charged for on-net and off-net voice calls for other operators.”

The regulator says that MTN Nigeria and Globacom also stifles competition in the upstream segment of wholesale leased lines and transmission capacity where they have been jointly declared dominant operators.

According to the NCC, the duo “jointly control about 62% of the public terrestrial transmission infrastructure which is a bottleneck resource in the provision of voice and data services. There are concerns that operators playing in the wholesale and retail sub‐segments of these markets have the leverage to “squeeze” the margins of their competitors who are also their customers.”

Following this, the segment will be subjected to a price cap for wholesale services and floor caps for retail to be determined soon by NCC.

NCC says it is also implementing an accounting separation for the joint dominant operators and will also require them to submit details of their operations for regulatory scrutiny

source:http://www.technologytimesng.com/government-moves-to-review-mtn-nigerias-tariffs-following-declaration-as-dominant-operator-for-mobile-voice-telephony/

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Industry

THE FINTECH REVOLUTION IN INSURANCE

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Advancing technology has collided with longstanding customer issues to create a series of deep, lasting, systemic challenges for insurance. How will these trends impact insurers’ businesses and the industry overall?

The rise of fintech, changing consumer behavior, and advanced technologies are disrupting the insurance industry. Additionally, Insurtechs and technology startups continue to redefine customer experience through innovations such as risk-free underwriting, on-the-spot purchasing, activation, and claims processing.

The report from Deloitte Global examines forces that are disrupting the insurance industry and presents four possible scenarios for the future. We explore:

  • Changing the channel: Partnerships with product makers and distributors, and embedding insurance into other products and services may enable customers to select products that best fit their lifestyle.
  • Underwriting by machine: Technology advancements including AI innovations and algorithms will likely individualize risk selection and pricing, and customers can select products based on a wider range of price points.
  • Rise of the flexible product: Time-flexible, event-driven, modular and adjustable coverage may evolve to accommodate life stage, lifestyle, and wellness changes among consumers.
  • E-Z life insurance: Given the growth and shopping patterns in emerging markets, insurers who introduce flexible term products, and master digital distribution without compromising underwriting are likely to win in the marketplace.

Read the report to understand what the future holds for the insurance industry.

Key Contact

Neal Baumann

Neal Baumann

Global Insurance Leader

Neal leads Deloitte’s Global Insurance practice and is the US insurance consulting leader. He has 20 years of experience advising financial services and insurance company clients on corporate and comp… More

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Business

EUROPEAN INVESTMENT BANK RUNS BLOCKCHAIN HACKATHON

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A team from EY triumphed in a 48-hour European Investment Bank (EIB) hackathon designed to find ways to use blockchain technologies to redesign the transaction processing of commercial paper.

The EIB brought together 56 coders from 15 countries in 12 teams for the hackathon, run alongside the bank’s annual forum dedicated to treasury issues.

While the conference was running, the coders were locked in an adjacent room, trying to prove that blockchain tech can improve the transaction process of commercial paper – a short-term financing instrument that is used worldwide in treasury operations and still relies on an ‘archaic’ and complex process.

In the pitching session, the EY team won the contest with an effort that taps a combination of blockchain, robotics and business AI tools to optimise the issuance process and reduce the number of exchanges between the EIB and its counterparties while maintaining each one’s role within the ecosystem.

The EY team won a EUR5000 cash prize and a contract with the EIB to further develop its solution into a proof of concept.

Alexander Stubb, vice president, EIB, say: “There will be major gains from the use of new technologies such as blockchain, generated from the simplification and streamlining of existing financial processes. The new perspectives opened up by digitalisation and Distributed Ledger Technology must be assessed and we must all be ready to make use of them and embark on this new venture.

“As the EU’s financial arm, we decided to be on the active side, learn by experience and make things happen, to be a facilitator and join with our banking partners to pave the way for tomorrow’s financial industry.”

Separately, Barclays is planning a hackathon that will see coders use blockchain technology for post-trade processing of derivatives contracts. The event will take place over two days in September in London and New York, according to Coindesk.

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Industry

GOOGLE NEVER REALLY LEFT CHINA: A LOOK AT THE CHINESE WEBSITE GOOGLE’S BEEN QUIETLY RUNNING

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More information is leaking out about just how Google is planning to re-enter the Chinese market with a mobile search engine application that complies to the country’s censorship laws.

The Intercept first broke this story when a whistleblower provided them documentation detailing the secret censored search project (codenamed Dragonfly). According to them, an overlooked Google acquisition from 2008 — 265.com — has been quietly laying down the foundation for the endeavor.

In order to run a business in China, tech companies are required to obtain a Internet Content Provider license from the Chinese government. As it’s difficult for foreign businesses to obtain this license, Google has long partnered with Chinese IT company Ganji.com. Back in the early years of Google.cn, Google actually operated directly off of Ganji.com’s license, even claiming the Chinese company was temporarily running its search engine. Facing intense scrutiny from the Chinese government and the media over this license arrangement, in 2007 Google formed a legitimate joint venture company with Ganji.com — the Beijing Guxiang Information and Technology Co.

Because of the necessity of that license, Google has maintained that joint venture and has been operating in China under the name Beijing Guxiang Information and Technology Co. ever since. Even after the shut down of Google.cn, Google’s Chinese advertising enterprise has been operating under the joint venture company as well as, low and behold, 265.com. A whois search of the 265.com domain name, which provides a record of the current domain registrant information, pulls up Beijing Guxiang Information and Technology Co. as the registrant organization.

A significant number of Google employees are reportedly none too happy about Google’s project complying with Chinese censorship laws. This most recent news, that the company has long been collecting data for a moment just like this, surely won’t make morale among these workers any better.

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