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Home Blog Page 3826

Nigeria Telecom Regulator To Prosecute Loan Apps, Telemarketers over Illegal Use of Phone Numbers

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The Nigerian Communications Commission (NCC) has issued a strong warning to both loan app companies and telemarketers regarding their unauthorized use of individuals’ phone numbers for commercial purposes.

In a public notice issued on Thursday, the Commission stated that individuals found engaged in such activities would face arrest and prosecution.

The warning has come in the wake of incessant harassment of subscribers by loan sharks, which has failed to die down despite efforts by regulators.

Loan sharks require access to the phone contacts of borrowers and begin to call and text the numbers in case of default.

The NCC said in a statement posted on its website that utilizing individuals’ phone numbers without their explicit consent is considered a violation of privacy. Furthermore, the telecom regulator clarified that telemarketers falsely asserting that they obtained these numbers from the NCC or the national database of registered SIMs are making inaccurate claims.

The statement reads: “The attention of the Nigerian Communications Commission (NCC) has been drawn to the criminal activities of telemarketers who illegally access the telephone numbers of telecom subscribers for their commercial activities and gains.

“These telemarketers also falsely claim that they obtain telecom consumers’ phone numbers from the Nigerian Communications Commission. Otherwise, they claim that the Commission gave them access to the numbers through the Subscriber ldentity Module (SIM) Registration Database. These claims are not true.

“The Commission fully abides by the principles and rules guiding the protection of privacy as a right of all consumers and users of telecommunications services.

“Therefore, no service provider or telemarketer is authorized to invade, harvest, or use subscriber data in any form or guise without the express approval of the consumer, except otherwise provided by law.

“The protection of the data of telecom subscribers by the Commission is guaranteed in Section 35 (1) of the Consumer Code of Practice Regulations, 2007; Section 9 (1) of the Nigerian Communications (Registration of Communications Subscribers) Regulations, 2022; and Section 4.2 (a) &< (b) of the NCC’s Internet Code of Practice.

“Therefore, any telemarketer involved in harvesting telecom subscribers’ phone numbers and other personal details through dishonest means and using such for commercial purposes without regulatory approval is hereby strongly warned to desist from this illegal act, as anyone found guilty shall be arrested and prosecuted in keeping with the law.”

The Commission has urged telecom subscribers to utilize the Do-Not-Disturb (DND) Short Code, introduced by the NCC for managing their subscriptions to Value Added Services. This service provides the option to stop unsolicited text messages and other telemarketing offers.

To activate full DND, subscribers can send ‘STOP’ to the Short Code 2442.

Furthermore, the NCC has encouraged telecom consumers who come across such illicit activities by telemarketers to report such instances to the Commission. This can be done by calling the NCC Toll-Free Number 622, and necessary enforcement actions will be taken.

“Despair is Not An Option”, Peter Obi Urges Supporters to Keep Hope Alive Following PEPT Judgment

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The presidential candidate of the Labour Party (LP) Peter Obi, has issued a message of hope to “Obidients” and all his supporters, following the judgment of the Presidential Election Petition Tribunal (PEPT) on Wednesday.

In a message titled: “DESPAIR IS NOT AN OPTION”, shared on X on Friday, the former Anambra State governor urged his supporters to keep hope alive despite the “general despair” emanating from the tribunal’s judgment.

The PEPT, in its judgment, quashed all the charges challenging President Bola Tinubu, upholding his controversial election victory. However, a large section of Nigerians, especially supporters of Obi known as Obidients, had described the judgment as a miscarriage of justice.

Although the LP and Obi have moved to appeal the ruling, many of his supporters have been calling for protest.

However, in his message, Obi said that the dream of a new Nigeria has only been deferred for now by the judgment, but remains alive for all times.

“Today, I want to personally reach out and encourage you all to keep hope alive. Considering the challenges that lie ahead of us as a movement, despair is not an option. Nothing good in life comes easy,” he said.

The two-term former governor said in the journey to actualize “Nigeria of dream” despair or surrender is not an option.

“We set out knowing fully well that the forces we are up against are entrenched and formidable but not insurmountable. They would resist the wind of change and try to push us into surrender or despair. We must not succumb to their design,” he said.

Read his full message below:

My Dear Obidient Family and Supporters,

I trust that you all have listened to, or read my reaction to the judgment delivered by the Presidential Election Petition Court (PEPC) on Wednesday, 6th September 2023.

Understandably, there has been a note of general disappointment within our fold and indeed the general population of Nigerians who hoped that the outcome of the February 25th Presidential election would usher in a new and different Nigeria of our dreams.

That dream has only been deferred for now but remains alive for all times. Since the Tribunal verdict, there has been a note of general despair among the Obidients and the generality of our supporters. I assure you all that on this journey, despair or surrender is not in our options.

Today, I want to personally reach out and encourage you all to keep hope alive. Considering the challenges that lie ahead of us as a movement, despair is not an option.

Nothing good in life comes easy. Throughout history, positive changes come only with sacrifices, perseverance, resilience, and fluctuating fortunes. Right from the onset of our journey, I told you all that the journey upon which we were about to embark was not a short sprint, but a long and tough marathon. It was always going to be difficult, painful, and excruciating.

We set out knowing fully well that the forces we are up against are entrenched and formidable but not insurmountable. They would resist the wind of change and try to push us into surrender or despair. We must not succumb to their design.

I am inspired that we have endured the odds placed in our way at every point. In such a short space of time, we have persevered to get to the point where we cannot be ignored any longer. Therefore, I urge you to abide and never think of giving up.

I wish to assure you that our recent disappointments have inspired me to re-dedicate myself to the cause of building a New Nigeria. For me, rescuing Nigeria is a lifelong commitment, and on this journey, we shall be resolute but orderly, principled but lawful.

I assure you that we shall persist with even greater determination and zeal until we get to our destination. Nigeria must belong to all Nigerians and not to a select few.

Like all of you, I believe fervently that a New Nigeria is POssible. God bless you all and God bless Nigeria.

South African Energy Startup Wetility Raises $48M to Accelerate Growth

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Fund, money cash dollar

Wetility, a South African Solar fintech company that offers solar energy solutions to households and businesses, has announced the raise of R903 million, approximately $48 million to accelerate its growth.

The fundraising comprises R180 million in convertible debt as well as total debt, including a R600 million commercial debt package from Sanlam, a diversified financial services company headquartered in South Africa, and large commercial and development banks.

Reports reveal that Wetility’s first venture debt funding was led by Multichoice via its accelerators program which is part of the Multichoice innovation fund in January 2022.

According to the CEO of Wetility, Vincent Maposa, he said the current funds raised will be used to accelerate the startup’s expansion plans and grow its customer base in South Africa.

Also speaking on the funds raised, Chief of Staff at Wetility, Johanna Hortz said,

“Our recent fundraising is a pivotal moment for Wetility. It is a testament to the trust and confidence our customers, investors, and commercial partners have in our vision. The capital infusion provides us with the means to accelerate our growth and make a substantial impact in South Africa and power the Fintech space”.

Founded in 2019, Wetility flagship product is an all-encompassing digital solar energy management system that allows users to remotely manage power usage. The energy company harnesses the sun’s power to give customers hybrid energy solutions that work together with their power systems.

Wetility also provides customers with a personalized 360 Wetility experience, allowing them to interact, connect, and grow as they need to, when they need to.

PACE is the heartbeat of the Wetility solar solution, consisting of a hybrid inverter, lithium-ion batteries, and switchgear. PACE is intelligently designed to control the energy flow to used homes or businesses and manages load shedding and switching schedules. PACE is powered by the startup’s rooftop PV installations with an offering of 10 10-year warranty.

Wetility is backed by notable partners such as Standard Bank, Sunflower Energy Africa, The Innovation Hub, Sasfin, NBI, Investec, Experian, Multichoice, and Instructured Capital Solutions.

Unlike other providers, Wetility offers unique financing solutions such as monthly payment schemes, tapping into a market segment of consumers who were otherwise unable or hesitant to invest in solar equipment upfront.

The company has achieved this unique financing model through strategic partnerships with a number of South Africa-based enterprises. Wetility’s energy strategies are poised to play a key role in achieving sustainability and energy stabilization in the long run.

The MISSION | Tekedia Capital

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Tekedia Capital offers a specialty investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organizations to co-invest in innovative startups and young companies in Africa and around the world. Capital from these investing entities are pooled together and then invested in a specific company or companies.

Pay for your 4-cycle membership fee. The fee provides access to 4 investment cycles of Tekedia Capital deal flow. We typically do 2-3 cycles per year (i.e. 12 months). After payment, our team will give you access to the deal flow board.

(If after 4 cycles, you can decide not to renew. Yet, you will continue to receive updates on your prior investments. But we will not provide access to new startup deal flows.)

Join the MISSION here

Countdown to the Start of Tekedia Mini-MBA – Monday, Sept 11, 2023

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We have got many NEW courses developed by business executives from companies you admire. Go into the future of markets with them. Be a #Champion. Be an #Innovator. Ascend into that New #leadership position. We have got the tools to help you. But you need to come to the festival.

Register today and join us here .

I will be the main compass and I promise you, you will graduate with deeper insights on business, your personal economy and your world. Tekedia Mini-MBA >> the #best school