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Ericsson Declares Revival Complete, Raises Target

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Ericsson CEO Borje Ekholm announced the successful completion of the vendor’s turnaround plan, as he raised 2022 targets for its networks division but severely cut expectations for its digital services business.

In the hours before the company’s capital markets day (10 November), the vendor said following the completion of its recovery, it was now in a strong position to accelerate growth and up investment in 5G enterprise applications.

Ericsson upgraded its 2022 financial targets for managed services and networks, though slashed its digital services goal. The numbers are expected to roughly offset each other leaving its group-wide profitability target unchanged.

The vendor attributed the rise in expected earnings from its networks division to gains in the global market, with improvements in managed services margin the result of R&D investments in AI and automation.

Within digital services, the company had previously predicted an EBIT margin, excluding restructuring, of between 10 and 12 per cent. This has now been cut to 4 to 7 per cent. In the segment, Ericsson noted the priority was “restoring profitability” adding it was being hit with a combination of increased R&D spend and a decline in legacy sales.

Although declaring its turnaround complete, the company is still providing financial targets which exclude restructuring charges.

In addition to revising its expected performance for 2022, it provided outlines of long-term aims. Ericsson expects to achieve a 15 to 18 per cent EBITDA margin in the years beyond 2022 through various “improvement activities” including upped software sales. Its 2022 group target is 12 to 14 per cent.

“The execution on our focused strategy has delivered a turnaround which creates a robust base for the future and delivered global leadership in 5G today,” Ekholm said. “Our future value is inextricably linked to wider economic growth and we are well-positioned to play a lead role in the ecosystem of operators, businesses, and decision-makers on whose combined shoulders 5G’s full success rests.”

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MTN Foundation Launches Skills Academy to Train 3 Million Nigerians

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The MTN Foundation has officially launched its Skills Academy, a transformative digital learning platform designed to empower millions of Nigerians with access to digital and financial skills essential for the 21st-century economy. The launch event, held at the Transcorp Hilton in Abuja, brought together top government officials, education stakeholders, and technology experts, reinforcing the importance of public-private collaboration in building a digitally inclusive Nigeria.

The platform, available at skillsacademy.mtn.com, is open to individuals aged 13 and above, whether in school, recently graduated, self-employed, or unemployed. It also features a career guidance tool to help secondary school students and other users explore pathways aligned with their strengths and market demand.

With youth unemployment over 6% and more than 18.3 million children out of school, according to the latest data from the National Bureau of Statistics (NBS) and the United Nations Children’s Fund (UNICEF), Nigeria faces a pressing need to close the digital skills gap. The Skills Academy directly responds to this challenge by offering free, self-paced courses and certifications in high-demand areas such as data analysis, software engineering, digital marketing, and project management.

In her welcome address, Dr. Mosun Belo-Olusoga, Chairman of the MTN Foundation (represented by Simon Aranonu, Director of the MTN Foundation), stated, “We believe digital skills are a truly powerful asset. No Nigerian youth or child should be left behind because of their socioeconomic background. This platform is designed to provide world-class learning experiences, helping Nigerian youth thrive and become future leaders.” To date, the platform has over 7,000 people learning and over 3,000 courses completed, setting a strong foundation for nationwide scalability.

The Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, in his keynote, described the platform as “unique and critical.” “Nigeria is a country that is extremely blessed. With an average age of just 16.9, we are one of the youngest populations in the world. This program is not just about training; it’s about equipping a generation that will drive innovation, deepen our economy, and position Nigeria as a net exporter of tech talent,” the Minister commented.

Odunayo Sanya, Executive Director of the MTN Foundation, added, “We are focused on building Africa’s largest digital talent pipeline. Through relevant and practical courses across various disciplines, offered in collaboration with the global e-learning platform Coursera, this web-based training system will be instrumental in promoting a digitally skilled workforce.”

This initiative is part of the MTN Foundation’s broader Digital Skills for Digital Jobs programme, which aligns with the Nigerian Government’s National Digital Economy Policy and Strategy (NDEPS) and Sustainable Development Goal 4: Quality Education.

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How Mobile Money Topped Two Billion Account Holders

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This is according to the ‘State of the Industry Report on Mobile Money 2025’ prepared by the GSMA Mobile Money programme which works to advance the mobile money ecosystem for communities worldwide that lack access to more traditional banking services. 

Its latest report finds that transaction volumes and values for mobile money accounts experienced robust double-digit growth in 2024. Approximately 108 billion transactions, totalling over $1.68 trillion, were processed through mobile money accounts in 2024. Year-on-year, transaction volumes increased by 20%, while transaction values grew by 16%, up from a 13% increase in 2023. 

In Sub-Saharan Africa alone, year-on-year, mobile money added around $190 billion to GDP in 2023, demonstrating its sustained economic influence. Sub-Saharan Africa remains the world’s most active mobile money region, driven by new registered accounts and rising monthly activity in East and West Africa. East Africa was the leading driver of monthly active account growth in 2024, followed by Southeast Asia and West Africa. 

Mobile money continues to play a key role in economic development. By the end of 2023, the total GDP of countries with mobile money services was over $720 billion higher than it would have been without them, reflecting a 1.7% increase in GDP driven by mobile money.

Vivek Badrinath, GSMA Director General comments: “Mobile money has emerged as a powerful driver of financial inclusion and economic growth. Its continued success depends on supportive regulatory environments that promote innovation, accessibility and help unlock the full socio-economic potential. To ensure mobile money remains accessible, affordable, and safe, it is vital for governments and regulators to work with financial service providers to support financial literacy programs, empowering underserved populations and opening new opportunities for financial decision-making.”

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Africa’s Smartphone Market Surpasses Feature Phones for the First Time in Q1 2024

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Africa’s smartphone market showed remarkable resilience in the face of macroeconomic challenges and forex issues in Q1 2024, with shipments increasing 17.9% year on year (YoY) to reach 20.2 million units.

That’s according to the latest insights from International Data Corporation (IDC), with the firm’s newly released Quarterly Global Mobile Phone Tracker showing that feature phone shipments declined 15.9% over the same period to total 18.8 million units. This marks the first quarter where smartphone shipments have surpassed feature phone shipments in Africa, highlighting a clear transition toward smartphones across the region.

“South Africa experienced healthy YoY growth in Q1 2024, driven by the rising popularity and availability of competitively priced Chinese brands with advanced features,” says Arnold Ponela, a senior research analyst at IDC. “Meanwhile, Nigeria saw robust growth fueled by the success of Transsion brands and Xiaomi, particularly in the entry-level segment, which significantly boosted shipments. Kenya further strengthened its position as the third-largest smartphone market in Africa in Q1 2024, with innovative financing models like Mkopa driving sales growth.”

In Q1 2024, Transsion brands (Tecno, Itel, Infinix) maintained their leading position in terms of smartphone market share, driven by their compelling entry-level device portfolio tailored to the African market. However, Samsung and Xiaomi gained market share on the previous quarter, driven by mid-range ($200<$400) models. Overall, shipments of smartphones in this price range increased in Q1 2024, while shipments of <$100 devices declined, indicating a growing consumer preference for feature-rich models.

Looking at 2024 as a whole, IDC expects Africa’s smartphone market to see shipments increase 5.7% YoY, with a sustained upward trajectory for the next five years. “Africa remains a market with a high share of feature phones, although they are expected to gradually decline as the transition to smartphones gains momentum,” says Akash Balachandran, a research manager at IDC. “This shift, coupled with rising demand, will be the key driver of overall growth in the smartphone market. Persistent inflationary pressures and escalating macroeconomic uncertainties may cause short-term fluctuations but will not impede the long-term transition.”

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