Kenya’s government proposes new bill to tax content creators
The Government of Kenya has proposed multiple amendments to the Finance Bill for 2023. The proposals aim to expand the tax base for the government, which has been having revenue issues that have forced it to at some point, delay the salaries of its employees. One of the proposals in the Bill is the taxation of payments made to digital creators. Content creation has grown over the years, and creators earn a living through sponsored content, digital campaigns, or ad revenue from platforms such as YouTube, Tiktok and Facebook. Under the current taxation regime defined by the Income Tax Act (ITA), certain digital payments made are subject to withholding tax, while others may not fall under the provisions of the ITA. Payments made by taxpayers to digital content creators will be subject to a 15% withholding tax rate, according to the new proposed legislation. At the same time, the definition of digital content monetization has been expanded to include various types of content and services. For instance, digital content monetization now means offering payment for entertainment, social, literal, artistic, educational or any other material electronically through any medium or channel. This includes various forms such as advertisement on websites, social media platforms or similar networks by partnering with brands including endorsements from sellers of such brands. Sponsorship also falls under this definition, where a brand owner pays a content creator for content creation and promotion. The amendment also proposes affiliate marketing to remit the new tax, where a content creator earns a commission whenever the audience of the creator clicks on the product displayed. The government further wants to tax subscription services where the audience pays a periodic fee to access the content and support content creators. The bill also mentions creators who use membership programs for exclusive content, crowdfunding for raising funds for specific goals, and licensing content such as photographs or music to other businesses or individuals for use in their own projects should pay tax. The tax proposal mentions merchandise sales where physical goods and services are sold featuring a logo, brand, or catchphrase to the audience of the content creator. The proposed withholding tax rate of 15% for payments made to digital content creators is significantly higher than the usual rate of 5% for professional services. This could lead to an effective tax rate of over 30% for creators and may generate ongoing income tax credits since the withholding tax rate assumes a profit margin of 50%. The provision covers not only services but also goods and could potentially affect minors who are content creators. The responsibility for tax registration of minors or their guardians is unclear currently. The bill has also clarified about digital assets that will also be taxed. They are assets that exist in digital form and can be exchanged electronically, such as cryptocurrencies, non-fungible tokens (NFTs), and other types of tokens that provide a digital representation of value. This was not explained explicitly when the first draft of the bill was shared. Those who own a platform or assist in transferring digital assets will need to deduct a Digital Asset Tax (DAT) of 3% from the gross fair market value received or expected to be received at the point of transfer or exchange. The deduction must be remitted within 24 hours. If approved by President William Ruto, these new taxes will beceome effective from September 1.
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Google Voice and two other legal phone number generator apps usable in Ghana
Are you visiting Ghana from the USA and don’t want to give out your primary USA number outside the country, maybe for privacy reasons? You can generate a second one with these phone number generator apps. There are several free phone number generator apps available. And the majority of them can generate both USA and Canadian numbers legally. These apps can be used to make and receive calls, send and receive texts, and keep your personal and business calls separate. In this article, we will discuss 3 popular apps that provide free phone numbers. 1. Google Voice phone number generator Google Voice is an online phone number generator service that allows you to make and receive calls, send and receive text messages, and forward calls to other phone numbers. It offers users a free phone number that can be used for both personal and business purposes. To use the Google Voice app for a free phone number, you first need to download the Google Voice app on your mobile device from the App Store or Google Play Store. Once you have installed the app, you will need to create a Google account if you don’t already have one. Once you have signed in to your Google account, you can select a phone number from the list of available numbers. You can choose a number from any area code you prefer, and Google will provide you with a list of numbers to choose from. After selecting a phone number, you can use the Google Voice app to make and receive calls and send and receive text messages. The app also provides a voicemail service that allows you to listen to your messages and transcribe them into text. 2. TextNow phone number generator app TextNow is a phone number generator app that allows users to make and receive calls, send and receive texts, and customize their voicemail greetings. It also offers a feature called ‘Call Forwarding,’ which enables users to forward calls to another phone number. One of the unique features of TextNow is that it provides users with the option of choosing a phone number from a list of available numbers or creating a custom number. The app is available for download on both Android and iOS devices. To use TextNow, you need to sign up for a free account by providing your name, email address, and password. After signing up, you can choose a phone number from the list of available numbers or create a custom number. The app also allows users to earn credits by completing offers, watching videos, or inviting friends, which can be used to make international calls. 3. Sideline phone number generator app Sideline is another phone number generator app that is designed for business owners and entrepreneurs who want to keep their personal and business calls separate. The app provides users with a second phone number that can be used for business purposes, such as marketing, sales, or customer service. It offers features such as voicemail, call forwarding, and auto-reply messages. One of the unique features of Sideline is that it allows users to customize their voicemail greetings for different contacts or groups. For example, you can have a different voicemail greeting for clients, colleagues, and friends. The app also provides users with a web-based dashboard that allows them to manage their calls and messages from their computer. To use Sideline, you need to download the app on your Android or iOS device and sign up for a free account. After signing up, you can choose a phone number from a list of available numbers or transfer an existing number to the app. The app offers a free trial for 7 days, after which you need to subscribe to a paid plan to continue using the app. Final thoughts As you can see, there are free and legal phone number generator apps available. And they provide users with a range of features such as voicemail, call forwarding, and text messaging. These apps can be useful for legal personal or business purposes. However, you need to note that most of these apps generate USA or Canadian numbers and will usually require you to have an existing USA or Canadian phone number before you can proceed to generate one off their platform.
Read MoreFingo App hopes to recapture neobanking gap left by NCBA Loop in Kenya
Ecobank Kenya has announced a new neobank service, Fingo App. The lender, which is part of Ecobank Group, aims to fill the gap left by the rebranding of NCBA Loop, a digital bank by NCBA that previously allowed customers to send money to mobile wallets for free. This free service made it an attractive option for bargain-hunting young Kenyans but is no longer available. Loop is also perhaps the only digital bank that attracted a number of young users in a market where other similar products failed to gain traction. The Fingo App has collaboratively been developed by Ecobank and Fingo Africa, a Kenyan fintech firm that was launched back in 2020. At the start of 2023, Fingo Africa received a licence from the Central Bank of Kenya (CBK) for online banking services. Fingo Africa has also had notable backing from investors and is said to be over $10 million in valuation. Fingo App’s launch in Kenya makes sense in that the youth are always looking for a financial platform they can use with affordable charges. Fingo promises to offer more than that because users can be onboarded on the platform in a timely manner, which also adds another benefit to potential customers because they are not required to walk into a physical banking hall to open an account. “Opening a bank account can be a lengthy process taking anywhere from two days to two weeks in some countries. Moreover, it may require multiple face-to-face interactions and the submission of physical paper documents. Often, consumers also face a steep fee when sending money to friends, loved ones, or businesses, in addition to other charges, just to keep their account active,” says Fingo Africa in a statement seen by TechCabal. Customers, both on Android and iOS can set up their Fingo App account in under five minutes. The account will then see them access a bunch of services, such as sending money to mobile money wallets (M-PESA, for this case), pay bills through paybill and till numbers. Users can also send money to other Fingo App users for free, which is perhaps its biggest selling point. “We are proud to support the deployment of the Fingo App, a game-changer in digital finance in Africa that brings many young people into the mainstream financial sector and caters to their needs and preferences. By simplifying access to finance, it overcomes the entrenched issues that have often acted as barriers to entry for young Africans. I want to thank our partner, Fingo, for driving such innovation that is aligned with one of our core missions to drive financial inclusion across the continent,” said Jeremy Awori, CEO, Ecobank Group. Fingo App further simplifies savings by automating recurring transfers towards specific goals, simplifies payment collection with payment links, enables receipt of funds via QR code, and offers a cash reward for signing up. Since Fingo Africa targets the youth in the continent, it has plans in the pipeline to launch in 32 other countries where Ecobank is also present. It is not clear how Fingo App will address low financial literacy, especially for the youth, although it now has robust resources such as access to digital infrastructure by Ecobank. Fingo App has also successfully navigated regulatory barriers after it acquired the licence for its local operations from the CBK, which has been stringent to fintechs. There are challenges with building trust with customers who may be skeptical of digital-only banks and concerns around data privacy and security (it is yet to ensure that financial data that goes through the Fingo App systems is encrypted). Fingo App will need to address these challenges to establish themselves as viable and sustainable digital bank, especially for people who are looking out for NCBA Loop replacement.
Read MoreDoes AltSchool Africa’s crowdfunding campaign breach investment rules?
AltSchool’s $3 million crowdfunding campaign, has raised concerns about the legality of such alternative funding avenues. We reported last week that AltSchool Africa, the US-based ed-tech startup was offering equity to members of its “community” for as low as $500. In the LinkedIn post, which featured a 4-minute video, Adewale Yusuf, CEO of AltSchool Africa, said his firm had partnered with Fast Forward, a US-based venture studio and Hoaq, an angel syndicate to allow AltSchool students and community, to invest in the company. According to Yusuf, the company decided to open up part of the round to “communities”—including AltSchool Africa students. But the decision to let students and an undefined community invest in the Delaware-registered company raises the question of whether AltSchool Africa is in violation of United States Securities and Exchange Commission (SEC) rules. But AltSchool Africa’s chief, says the move to raise capital from its community is perfectly legal. “It’s a valid option globally”, he told TechCabal. Per rule 506 of the US SEC’s Regulation D, private companies cannot solicit funding publicly. “Under Rule 506(b), a “safe harbour” under Section 4(a)(2) of the Securities Act, a company can be assured it is within the Section 4(a)(2) exemption by satisfying certain requirements, including the following: The company cannot use general solicitation or advertising to market the securities. The company may sell its securities to an unlimited number of ’accredited investors’ and up to 35 other purchasers,” the rule reads in part. On his part, Yusuf says raising money is not the primary goal for the crowdfund, “We did not do this to raise, but to get our community to be part of it,” Yusuf told TechCabal via text echoing what he also said in the video message posted on LinkedIn. “We’re a community-oriented organisation, and we always keep it that way. We want our students and supporters to own a fraction of us,” he said in the video. Startups in Africa and globally, are struggling to raise money from investors as investing outfits pull back on writing cheques to tech companies. In Africa, the result has been a decline in how much funding tech firms disclosed in the first three months of 2023. In April for example, less than $130 million was disclosed by tech startups, representing a 350% decline when compared to April 2022, data from Africa, The Big Deal shows. While Yusuf describes his latest fundraising as giving their community the opportunity to own part of the company, that AltSchool Africa is adopting a crowdfund to raise all or part of $3 million, is only part of a trend where founders use alternative capital raising structures in an attempt to find cash to run their businesses. But the rules about crowdfunding are complicated. In May 2022, the US Financial Industry Regulatory Authority (FINRA) fined Wefunder and StartEngine Capital $1.4 million and $350,000 respectively, in part for, “ improperly sent emails to hundreds of thousands of investors recommending and soliciting investments being offered on its portal in violation of a rule that prohibits such solicitations; included misleading communications on its funding portal website.” Generally speaking, companies that engage in general solicitation or advertising to promote their securities offering can sell securities only to investors who are accredited. But to qualify as an accredited investor, an individual must meet certain income or net worth thresholds (have a net worth of over $1 million or an income of more than $200,000), or have certain professional certifications, designations, or other credentials. But there is an exception to the SEC’s rule 506(c). In 2012, former US President, Barack Obama signed the Jumpstart Our Business Startups Act (JOBS Act) into law. The new law created Regulation CF and Regulation A+ as two exemptions to the SEC’s restrictions on private companies soliciting investment from the public. Because of these amendments, for example, startups that opt to offer their shares under Regulation CF instead of a traditional 506(c) offering may raise up to $5 million from non-accredited investors. Regulation crowdfunding is also subject to conditions. For example, while general solicitation is permitted upon filing a Form C with the SEC, there are rules which guide how the offering is advertised, according to Bill Clark, CEO and founder of MicroVentures, a US venture capital firm. For example, issuers are not allowed to advertise the terms of the offering, including the nature and price of the securities. Some information about AltSchool Africa’s deal terms is publicly available on the Hoaq link in Yusuf’s post. AltSchool Africa doesn’t specify who should not invest or the criterion it will apply to decide who it takes money from or under what rule it is running this crowdfunding campaign. The post calling for investors simply invites them to either complete a form on Sydecar, a deal execution platform. Or commit to investing $500 or multiples of $500 through this form, managed by Hoaq, an African angel investor community. TechCabal is unable to independently establish if additional checks are imposed on would-be investors who indicate their willingness to invest. As such the question about the legal standing of AltSchool Africa’s latest attempt at fundraising is still up in the air. Editors note:Comments attributed in error have been removed.
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SA firm to pay $3.4 billion for crypto fraud
Lire en français Read this email in French. Editor’s Note Week 18, 2023 Read time: 5 minutes A lot of interesting things happened across the continent this week. In this edition, we bring you the most interesting news from Nigeria, Kenya, and South Africa. Enjoy! Pamela Tetteh Editor, TechCabal. Editor’s Picks SA firm to pay $3.4 billion for crypto fraud A federal US court in Texas has ordered the CEO of a South African firm to pay $3.4 billion for bitcoin fraud. This is now the biggest fraud case involving Bitcoin. Learn more. Kenya approves spyware for phones Kenya wants to curb the sale and distribution of fake phones and its solution is a spyware software on every mobile device in its territory. Learn more. Nigerian telcos reject NITDA bill Last week, we reported the most recent fallout between Uber, Bolt and the Nigerian ride-hailing union, AUATWON. This week, we interviewed drivers of Bolt and Uber, and they spoke about their understanding of the situation. Learn more. Phone calls get more expensive for Nigerians Phone calls & data bundles are going to get more expensive for Nigerians as the government is imposing a 5% excise duty on the telecom industry. Learn more. Nigeria approves blockchain technology This week, the Nigerian Ministry for Communication and Digital Economy announced the approval and launch of a national blockchain policy, as a part of its 10-year digital economy plan. Learn more. Kenya gets state-backed QR codes for payments The Central Bank of Kenya (CBK) has announced the Kenya Quick Response Code Standard 2023, also shortened as KE-QR Code Standard 2023. Learn more. Lending in Nigeria Are you curious about the dynamics of borrowing between family and friends, and how technology can play a role in solving the problem? Then this report by Sycamore, in partnership with TechCabal Insights, is for you. It provides comprehensive analyses of the informal market and how technology can be leveraged to improve the family lending sector in Nigeria. Download here. Meta loses again in Kenya Meta’s former content moderator, Sama, has once again failed to shake off the over 180 content moderators that it has been trying to lay off for months now. The court has granted the foreign petitioners the right to stay until the matter is resolved. Learn more. A fire incident at Zenith Bank Zenith Bank, Nigeria’s biggest bank by market capitalization, experienced total infrastructure downtime after a fire at the company’s primary data center. Learn more. Nomba raises $30 million Payment service provider, Nomba, which started out as an AI chatbot, has raised #30 million at a $150 million valuation. Learn more. South Africa’s bRAND new currency For the first time since 2012, the South African Reserve Bank—the country’s apex bank—has unveiled new designs for rand notes and coins. Read more. Who brought the money this week? Nomba, a pan-African payment service provider, secured $30 million in Pre-Series B funding. The oversubscribed equity funding round was led by San Francisco-based Base10 Partners, with participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures. Fedi, a Nigerian bitcoin-focused company, raised $17 million in a series A funding round led by Ego Death Capital. Other participating investors include Block, Kingsway, Trammell Venture Partners, and Timechain. Tunisian e-commerce company Drest.tn received $336,000 in an undisclosed funding round from 216 Capital Ventures. Nigerian Insight7, an AI company, secured undisclosed funding from Forum Ventures What else to read this weekend? Palmpay’s ruthless debt collection methods Next Wave: What will “Smart cities” mean for Africa? Exclusive: Nigerian VC firms are considering collaborating to check unethical founders Five AI careers to consider Share TC Weekender Written by: Ngozi Chukwu Edited by: Pamela Tetteh 18, Nnobi Street, Surulere, Lagos, Nigeria Unsubscribe from TC Weekender
Read MoreSchools, hospitals should be exempted from load shedding, says SA high court
The Pretoria High Court Pretoria has ruled that all hospitals, clinics, schools and police stations should be exempt from experiencing rolling blackouts, also known as load shedding. In a ruling passed by Judge Norman Davis, South Africa’s department of public enterprises Pravin Gordhan is ordered to “take all reasonable steps” within 60 days to ensure that public health establishments, state schools and the South African Police Service are not affected by load shedding. The judgement comes on the back of a campaign by the United Democratic Movement (UDM), Inkatha Freedom Party, Action SA, the National Union of Metalworkers and other organisations to spare hospitals and clinics, 23 000 public schools and police stations from load shedding. In its defence, Eskom argued that it would be technically impossible to isolate and exclude some buildings from load shedding, given how embedded they are in Eskom’s transmission and distribution networks, and that they share distribution lines with thousands of other customers. In the other part of the case, whose ruling was reserved for September 23rd, the plaintiffs seek to declare the Cyril Ramaphosa-led government’s response to loadshedding as unconstitutional and breaching a number of fundamental constitutional rights. Some experts have however argued that the exemption of some institutions from load shedding could lead to a collapse of the national grid. Andre de Ruyter, former CEO of Eskom, explained that the facilities of exempted institutions are embedded in distribution networks containing other residential and non-residential loads. “Given the very large number of institutions and facilities the applicants seek to protect from load shedding and the fact that most are embedded in distribution networks spread throughout the country, were they to be excluded from load shedding, there would be very little load left to shed to reduce demand on the grid. This presents a manifest risk of grid collapse or blackout,” De Ruyter said. To account for that case scenario, the high court ordered that where it’s impossible to isolate embedded buildings and spare them from load shedding, the department should ensure that generators and other alternative energy sources are secured to ensure uninterrupted power.
Read MoreMozambique gets its first 5G network, courtesy of Vodacom
Vodacom has launched Mozambique’s first 5G network. The mobile network operator plans to deploy 5G services at selected sites in Maputo, Matola; the central area of Nampula; downtown Nacala, Munhava, Maquinino and Chipanga neighbourhoods; Beira; and Tete. “5G Technology will significantly improve the quality of the telecommunications service provided in the country, particularly in the materialisation of the Internet of things (IoT), [as] well as ‘smart everything’ (smart cities, smart agriculture, smart ports, etc.), as it is the technology that better supports these cases,” said Mateus Magala, Mozambique’s Minister of Transport and Communications. Vodacom, which operates in seven other African countries, added that it was excited to bring quality network connectivity to communities across Africa, bringing individuals and businesses closer to the global digital economy. The telco’s CEO, Nuno Quelhas stated that 5G would help improve the quality of life and promote the growth of the youthful population. “5G would help to expand financial inclusion in Mozambique, as the aim is to cover 75% of the adult Mozambican population by 2025 and make payments through M-Pesa available anywhere in the country,” he added. According to data from Omdia, Vodacom Mozambique is the country’s biggest mobile operator with over 11.3 million customers in the first quarter of 2023. It has achieved a 75% coverage rate on its 2G network and 80% coverage on its 4G network.
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Unlocking new frontiers of innovation in African fintech
Image source: Skabash Innovation in the African fintech sector has been largely centered around payment solutions, with payment-focused startups accounting for 54.5% of all fintech startups on the continent, as of 2022, according to a report by Disrupt Africa. In 2022, African fintech startups raised a record-breaking $1.5 billion in funding, with payment solutions receiving the largest share of investment. However, it is essential to innovate to solve problems in other sub-sectors that need attention and growth opportunities. A report by the World Bank also highlights the need for fintech solutions beyond payments to provide access to credit and other financial products to the 66% of sub-Saharan Africans who do not have access to formal financial services. During the latest edition of TechCabal Live, “Beyond Payments: What’s the next big thing in African Fintech?”, a panel of industry experts explored the potential for growth and innovation in other verticals beyond payments solutions. The panelists discussed the state of fintech in Africa and the role it plays in promoting financial inclusion across the continent. They also highlighted the challenges that innovators face in developing new fintech solutions, such as regulatory barriers and the need for a robust infrastructure. On exploring untapped opportunities within the fintech sector in Africa, Daniel Adereti, COO at Pezesha said, “One of the biggest challenges is accessing credit.” “The opportunity for innovation is in finding ways to create an ecosystem where credit can be accessed easily and securely,” he said. Also, the importance of collaboration between fintech companies and traditional financial institutions to deepen financial inclusion cannot be overemphasised. As Ibukun Akinnawo, International Expansion Lead at Smile Identity said, “Collaboration is key in driving growth in the payments and other sub-sectors with shared databases and the use of AI to strengthen fraud detection systems.” As the African fintech industry continues to grow and evolve, it is important to recognize importance of building fintech solutions that are tailored to local needs and behaviors. Sub sectors like embedded finance for instance, enables the shift from time-consuming bank transfers to the use of financial services or tools by a non-financial provider. “Embedded finance is interesting, new and productive, for reasons that make capital have impact on emerging markets. I believe this,” said Wesley Billett, co-founder and co-CEO at Happy Pay. By leveraging innovative technologies and alternative distribution channels, fintech companies can help to democratize access to financial services and promote financial inclusion across the continent. Conclusively, there is potential for growth and innovation in other fintech verticals such as credit analytics, wealth management, and new payment solutions. With the right regulatory framework, access to capital, and support from governments and investors, the African fintech industry has the potential to become a global leader in innovation and entrepreneurship.
Read MoreFollowing greylisting wakeup call, SA seeks to revamp its financial services regulations
On February 24, the international financial crime watchdog, the Financial Action Task Force (FATF), announced that South Africa has been added to its “grey list”. This list consists of countries placed under scrutiny to implement standards to prevent money laundering and terrorism financing. To get back into the FATF’s good books, South Africa is set to adopt a raft of legislative changes over the next three to five years to modernise the regulatory framework for financial institutions and align with international standards. According to Astrid Ludin, deputy commissioner at the Financial Sector Conduct Authority, the country’s national treasury is also finalising a Conduct of Financial Institutions Bill which seeks to streamline the licensing of financial institutions and improve disclosure requirements to provide greater visibility into their business practices. . Additionally, the Financial Markets Act is also being reviewed and changes are expected to be submitted to parliament by the end of the year. Some of the expected changes include enhanced controls over short selling and securities financing transactions, and additional disclosure requirements of pre- and post- trading data to improve market surveillance. According to Ludin, the FSCA will spend the next three years improving the digitisation of its systems to enable it to streamline its reporting requirements, remove redundancies, and facilitate the sharing of information with other regulators such as the prudential authority and the Financial Intelligence Centre. Why was South Africa greylisted? According to the country’s national treasury, South Africa performed poorly in its 2019 mutual evaluation by the FATF, as a result of many institutions being crippled by state capture under former president Jacob Zuma’s administration. The country was subsequently put under a one-year observation period in October 2021 to give it time to address the 67 recommended actions by the FATF following the evaluation. In January 2023, an assessment of South Africa’s progress found that the country had managed to reduce the 67 recommended actions to 8 strategic deficiencies. The FATF then took the decision to greylist South Africa until the deficiencies are addressed. “In summary, the greylisting of a country means that its government has adopted an action plan to address deficiencies identified during its mutual evaluation after an observation period, and to implement such action plan within a defined time period, and with FATF monitoring such implementation,” said the National Treasury in a statement. Following the greylisting, the South African government is working to address the deficiencies pointed out by the FATF by the end of January 2025, to comply with the FATF’s standards.
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Rain launches voice services to challenge MTN, Vodacom dominance
South Africa’s data-only mobile network operator Rain is expanding its product suite.It will now offer voice services on its network, signaling its entrance into a market dominated by the de-facto duopoly of MTN and Vodacom. “This has now positioned Rain to enter the market as a full mobile network operator, thus becoming the fourth telco after Vodacom, MTN and Telkom, with a network that offers national coverage in voice, SMS and data,” Rain said in a statement. Running on 4G technology, Rain’s offering will offer high-definition voice calls, data and SMS throughout the country. “After acquiring spectrum in the 2022 auction, Rain is overlaying its existing 4G network with a new layer that provides for more comprehensive reach,” the statement continued. With both a national 4G mobile network and a 5G network, Rain said it is now combining “home and phone” into one plan, branded rainOne. “Now customers can connect all their devices with one monthly bill.” “Customers with rainOne will be able to seamlessly port their existing number and use Rain Mobile as their primary SIM, with national 4G mobile coverage,” the company further added. “The convergence of a home and mobile voice and data offerings in one affordable plan is an innovation we are confident will appeal to South Africans. We recognise that our customers have family members, so with rainOne we are catering not only for their need to access the internet from home, but also outside on their mobile devices,” said Rain CEO Brandon Leigh in the statement. The network operator’s “rainOne” offering allows consumers to bundle home internet ,voice and data services in one package “Now customers have another option for mobile services from a provider that has already established a strong reputation in the home internet market. The expansion of Rain’s network, both in terms of 5G coverage and spectrum acquisition, indicates that we are serious about being a major player in the mobile market as well,” he added. After failing in their bid to merge with Telkom, it appears that Rain have decided to penetrate the mobile voice market through their own efforts. With their success in 5G, Rain has the track record to show that they can bring the fight to the incumbents.
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