Business
Avanti Maintains Position as Sub-Saharan Africa’s leading capacity partner for Two Years
Avanti Communications (“Avanti”) has been named the market-leading high-throughput satellite capacity partner in sub-Saharan Africa for two consecutive years.
The results, from the 20th edition of the NSR Satellite Capacity Supply and Demand Analysis reports that Avanti’s market share is now more than two times that of its nearest competitor.
NSR’s annual report is one of the satellite industry’s most trusted and comprehensive sources for satellite capacity analysis, offering insight into key market developments and dynamics.
Avanti has made a significant commitment to Africa. The company has ambitions to accelerate growth across the region through local partnerships and the rollout of connectivity solutions; connecting hard-to-reach rural communities and improving network resiliency for critical communications infrastructure is central to this strategy.
To date, Avanti has connected more than 1,000 villages and schools across Africa, providing services in Nigeria, Kenya, South Africa, Tanzania, Ghana, Angola, Côte d’Ivoire, Cameroon and South Sudan. The company has plans to connect a further 10,000 sites over the next 5 years across Africa, impacting millions of lives and enabling communities to enjoy a connected life.
Kyle Whitehill, CEO at Avanti Communications, said: “Africa is a major focus for us and so we are delighted to be recognised as the market leader, but we won’t stop there. For us, Africa’s potential is limitless and the role that we can play in unlocking this is providing connectivity solutions. Connectivity is an enabler that provides vital resources and opportunities for individuals, businesses, and communities to thrive, which is why we won’t stop until we have connected the 871 million people currently living without a basic internet connection.”
Avanti has invested over $800m in Africa and already has a growing footprint across the continent. More than a fifth of the company’s employees are based in Nigeria, Kenya, South Africa, Angola, and Benin.
Below is the Sub-Saharan market share of leased GEO-HTS capacity for 2022:
- Avanti Communications (33.1%)
- Eutelsat (15.3%) 3. YahSat (13.0%)
- Intelsat (12.9%)
- ArabSat (9.2%)
- Inmarsat (8.4%),
- Spacecom (6.2%)
- Others (2%)
About Avanti Communications
Avanti Communications is the leading Ka-band high throughput satellite capacity partner to the communications industry in EMEA – extending and guaranteeing coverage for defence missions, enterprise solutions, and critical public services.
Through the HYLAS satellite fleet and partners in 118 countries, Avanti provides dedicated fixed and flexible-beam satellite connectivity, with extensive coverage across Europe, the Middle East, and Africa. Avanti has invested $1.2bn in a network that incorporates orbital slots in the Ka-band spectrum, satellites, ground stations, data centres, and a fibre ring.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 395 Sell ₦1, 403
GREAT BRITISH POUND (GBP) Buy ₦1,845 Sell: ₦1,865
EURO (EUR) Buy ₦1, 585 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,372.41
GREAT BRITISH POUND (GBP) ₦1,821.73
EURO (EUR) ₦1,565.37
SWISS FRANC (CHF) ₦1,695.42
JAPANESE YEN (JPN) ₦8.45
CHINESE YUAN (CNY) ₦201.98
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNITACCOUNT (WAUA) ₦1,870. 31
SAUDI RIYAL (SAR) ₦365.45
SOUTH AFRICAN RAND (ZAR) ₦83.80
Business
CBN revokes 46 MFBs’ licences
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).
CBN’s Ag. Director of Communications, Mrs. Hakama Sidi-Ali disclosed that the revocation becomes effective today.
She emphasised that the revocation was in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
“The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. OlayemiCardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions,” she said.
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
Others were: failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.
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