MTN Nigeria launches 5G service in Nigeria. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today

1. MTN Nigeria launches 5G service in Nigeria

Nigerian telecommunications operator, MTN, has officially launched its 5G service in the country targeting five cities in one month.

MTN made the announcement on its social media channels seen by Ripples Nigeria on Thursday.

According to MTN, the team is looking to roll out the 5G network majorly in Lagos and Abuja, with plans to also cover Port Harcourt, Enugu, and Kano within one month of the rollout.

MTN and Mafab Communications were granted a 3.5GHz spectrum licence last December.

In addition, the Nigerian Communications Commission (NCC) confirmed receiving $273.6 million each for the 5G spectrum licence in February 2022 from both companies.

However, Mafab has five more months to prepare as the company is yet to secure an operating licence to roll out a 5G network.

“The wonder of 5G is coming! Be among the first Nigerians to experience this incredible technology. Visit www.mtn.ng/5g-router to pre-order our 5G router now,” MTN wrote on its social media handles.

With the new launch by MTN, Nigeria joins South Africa and Kenya as the three countries that have formally launched the 5G network in Africa.

Tech Trivia: Cat 5 Ethernet cable is rated for what maximum data transfer rate?
A. 10 Mbps
B. 100 Mbps
C. 1 Gbps
D. 10 Gbps
Answer: see end of post

2. Egyptian startup, SubsBase, secures $2.4m seed funding to scale platform

An Egyptian startup, SubsBase, has raised $2.4M in seed funding led by Middle East and Africa-focused venture capital firm Global Ventures.

Read also:Nigeria’s fintech startup, PalmPay, launches new security campaign. 2 other stories and a trivia

CEO Mohamed Farag confirmed on Thursday in a media statement that the fund will be used to scale its subscription and recurring revenue management platform.

He noted that HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug and Play, Ingressive Capital, Camel Ventures, and existing investors Falak Startups and Arzan Venture Capital all participated in the funding round.

Ripples Nigeria gathered that SubsBase is the first subscription and recurring revenue management platform catering for the Middle East/North Africa (MENA) region.

“Being localized and as a first-mover, we will be able to help these businesses grow and scale in the market as well as be able to cater to their future needs when they decide to go to other countries or grow operations in other countries,” stated Farag.

3. London-based fintech, Unlimint, launches new Banking as a Service product

A London-based global fintech company, Unlimint, has launched its Banking as a Service (BaaS) product, Unlimint Banking, and Cards (UBC).

The company made the announcement in a press release seen by Ripples Nigeria on Thursday.

According to the release, the new product is “a one-stop payment accounts and card issuing and processing solution.”

The fintech company was founded in 2009 by Kirill Evstratov.

Unlimint says it provides fast-growing innovative businesses with a constantly evolving business interface, made by innovators for innovators.

Commenting on the launch of UBC, Jovi Overo, Managing Director BaaS at Unlimint, expressed optimism over the new product launch.

“We will continue to implement new trends into our solution to offer a truly innovative global BaaS offering,” he added.

Trivia Answer: 100 Mbps

Cat 5 (short for “Category 5”) is a type of Ethernet cable. It supports data transfer rates of up to 100 Mbps, or 12.5 megabytes per second.

Cat 5 cables operate at a 100 MHz frequency and can extend up to 100 meters between connected devices.

By Kayode Hamsat

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