How CAF president Patrice Motsepe could impact Canal+’s bid for MultiChoice
Patrice Motsepe, the president of the Confederation of African Football (CAF) and one of Africa’s richest persons, is reportedly in talks to join Canal+’s bid for MultiChoice. Motsepe’s involvement could impact the deal in numerous ways as Canal+ looks set to traverse the numerous business and regulatory hurdles standing in its way. According to companies’ regulations in South Africa, a foreign entity cannot have more than 20% of voting rights in a South African broadcasting company. Mpumelelo Ndiweni, CEO of Colmin Group, an African markets advisory and investment company, told TechCabal that the CAF president’s involvement could help Canal+, a French company, to bypass this requirement. “The coming on board of [Motsepe] would ensure Multichoice remains in South Africa and meets the threshold of local ownership required by authorities,” he said. Sherilyn Kamga, a senior strategic finance analyst, also states that a partnership with local players like Motsepe via a holding company structure would address this regulatory requirement. Motsepe would likely hold a majority stake in the holding company. “This way, it could exert indirect influence over the company’s management without exceeding the 20% voting rights limit,” she said. Where there’s interest, there’s conflict CAF, Africa’s football governing body, usually invites bidders for broadcasting rights to some of the continent’s premier football competitions including the African Cup of Nations (AFCON) and other inter-club competitions. Supersport, wholly owned by MultiChoice, bids for these rights. For Motsepe who owns Africa Rainbow Capital (ARC), having an ownership stake in MultiChoice could mean that he would have an impact, directly or indirectly, on which broadcaster gets the lucrative rights. According to Jimmy Moyaha, founder of investment firm Lebowa Capital, although the conflict of interest is a potential issue, it would largely depend on the ownership structure that Motsepe and Canal+ would agree on. “Motsepe isn’t directly involved in the management of ARC, his investment vehicle, and I doubt he would be involved in the management of Multichoice,“ he told TechCabal. Moyaha also noted that ARC’s position as an investment firm could easily be limited to a shareholder with minority voting rights which would address this conflict of interest. Additionally, Motsepe’s tenure at the helm of African football’s governing body ends next year. He could easily decide to step down from the position should he desire to have a more active role in the entity which would come about as a result of the partnership with Canal+. For Motsepe’s ARC, an investment company whose portfolio companies include mobile network operator Rain and neobank TymeBank, having MultiChoice on its portfolio could help with diversification. The company, which is listed on the Joburg Stock Exchange, has stated that it invests in companies with an established market position, a demonstrable track record, and strong cash flow generation, among other qualities. MultiChoice—with its 22 million subscribers in Africa, its 30-year presence on the continent, and R3 billion (~$156 million) cash flow, per its latest financial results—ticks most of these boxes. “For ARC, [the investment into] MultiChoice would diversify the business into media, further strengthening its operating model and investment strategy as an [investment vehicle],” Moyaha added.
Read MoreSurging inflation is forcing auto finance startups to rethink their financing strategies to maintain demand
Startups that provide financing support to Nigerians planning to own a vehicle are readjusting their strategies to keep demand stable as inflation continues to rise, pushing vehicle prices higher. Auto finance companies enable consumers to buy cars from dealers and be able to pay over a period of time. However, experts say shifts in vehicle pricing due to the FX crisis and market dynamics have significant implications for vehicle financing. Three companies that TechCabal spoke to said they are prioritising financing vehicles in areas of preference. This means measuring the demand for a particular vehicle, deciding whether the vehicle serves a commercial purpose, and assessing how affordable it is for consumers. “Ultimately, these changes reflect a dynamic adaptation within the vehicle financing sector to accommodate shifting market conditions and consumer preferences,” said Ojurongbe Damilola, head of technical services, Cars45. Max Drive, for example, which historically financed motorcycles, bicycles, three-wheelers, and mini-buses (four-wheelers), said it has recently done more three-wheelers and motorcycles in the 11 Nigerian states where it operates. It has financed 33 vehicles so far. Max Drive plans to finance 70 vehicles in 2024. For Carima, a B2B marketplace that allows dealers to make requests from other dealers for cars they don’t have in their lots, financing dealers is the better route to profitability. The company said it has financed dealers’ requests worth N400 million since January this year and has received back 100% of the loans. The platform has 3,000 registered dealers and overall access to 30,000 dealers. “We are financing dealers because they see cars as an asset while the normal individual sees cars as a liability. The dealer is buying a car because he wants to resell and make a profit,” Adebayo Tomiwa, CEO of Carima, told TechCabal. With 100% repayment done so far, Carima is now looking to expand the service. While prices of cars are on the rise, experts say the factors driving consumers towards vehicle financing include the ability to access a wide range of vehicles that financiers can now provide. Ojurongbe Damilola of Cars45, told TechCabal that this variety now allows individuals to select vehicles that meet both their preferences and financial realities. Another factor attracting consumers is expanded financing options due to more financing companies entering the market. This means that customers can now make their choices from a broader range of car loan providers. This also has led to more people embracing the concept of financing vehicles as they are more willing to consider vehicle loans as a viable option for buying cars due to the financial burden it takes off them. “This increased competition among financiers has made financing more accessible to a larger segment of the population,” Damilola said. However, there are concerns as to how the Central Bank of Nigeria’s Monetary Policy Committee (MPC) will affect loan interest rates, including car loans, if they continue to increase the benchmark interest rate. On March 26, 2024, the MPC hiked the benchmark interest rate by 200 basis points to 24.75%, from 22.75% recorded a month ago. Most of the financing companies often collaborate with financial institutions to access the funds they disburse as loans; an increase in base interest rate can also necessitate an adjustment in the rates offered by these companies.
Read MoreSA telcos are selling off their towers. Here is why
Telkom last week announced an agreement with a consortium of buyers to sell off its towers subsidiary, Swiftnet, for $356 million. Telkom said that the sale aligns with the company’s strategy to sell off non-core assets to focus on unlocking the intrinsic value of its more core operations. The company becomes the latest telco in South Africa to sell off its tower assets, following Cell C, Vodacom and MTN. Back in 2011, Cell C sold off its 3,200 towers to American Tower Corporation for $430 million. In June 2022, MTN sold its 5,701 towers to Nigeria’s IHS Towers for R6.4 billion (~$337 million), with the company stating that it will use the proceeds of the sale to fund the purchase of spectrum to high-demand spectrum frequencies and provide it with additional balance sheet flexibility. The following month, in July 2022, Vodacom announced that it would unbundle its over 9,000 tower assets into a separate subsidiary in which it would hold a 100% shareholding. The telco said the move was to enhance asset returns and lower communication costs. Last year, Cell C announced that it would switch off tower access and have its subscribers roam on towers owned or leased by MTN. As these SA telcos continue to sell off their tower assets, with reasons ranging from raising funds for other investments to supposedly lowering communication costs and shifting business strategies, experts who spoke to TechCabal say there may be other reasons at play. According to Jimmy Moyaha, founder of investment firm Lebowa Capital, telcos may be pursuing strategic goals which do not necessitate having the towers on their balance sheets. “We’re seeing telcos rather deploy their capex into more strategic things like buying spectrum and improving network capabilities,” he said. Cell C and MTN took this route as they immediately leased back the towers from their respective buyers. Additionally, according to Moyaha, loadshedding might also be a factor in pushing telcos to move the towers off of their balance sheets. With the loadshedding situation having gotten worse over the last few years, telcos have constantly reiterated in their financial results the investment that they have had to make in backup power during blackouts. MTN has stated in the past that loadshedding led to an increase in thefts at its towers; Vodacom has said it had to invest R1 billion (~$200 million) on backup power for its towers; and Telkom has said it had to spend over R500 million (~$100 million) on diesel for the backup generators needed to run its towers. “When loadshedding is severe, backup power doesn’t have enough time to recharge and replenish itself,” added Moyaha. “This then necessitates the need for additional power solutions to be deployed and that becomes a very capex-intensive undertaking.” Yet another (possible) reason… According to Tshepo Magagane, an investment analyst, shareholder pressure might also be a significant factor behind the selloffs. Over the last two years, when most of the sell-offs have taken place, Vodacom, MTN and Telkom have all seen their share prices tumble by 38%, 53% and 39% respectively. “Share price underperformance [has led] to pressure from shareholders which results in the companies convincing themselves that the tower assets are ‘non-core’.” He adds that the fact that private equity firms, which emphasise cashflow generation, are buying up the assets indicates their cashflow importance. “Infrastructure assets [like towers] allow revenue prediction, stable margins, efficient working capital deployment, manageable and incremental maintenance capex to investors,” said Magagane. Following its acquisition of Cell C’s towers, American Tower Corporation reported significant returns from the purchase. At the time, the company stated that it was generating a return on invested capital of approximately 20%. Each tower had approximately two tenants at a lease rate of $2,500 per tenant. According to Magagane, the prominence of such deals is likely to attract even more private equity investors to seek similar opportunities on the continent. “A consummation of deals this large should act as a catalyst for other investors to wake up to the fact that there are opportunities in South Africa and Africa,” he concluded.
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👨🏿🚀TechCabal Daily – Uganda downgrades GT Bank
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Happy pre-Friday LinkedIn is trying out TikTok-style videos. It’s not set in stone yet, but the company has confirmed that users will be seeing short-form video feeds in the near future. The app joins a string of other apps like X (Twitter), Reels, and Snapchat that are proving that what’s good for the goose, might also be good for Uganda. In today’s edition Bank of Ethiopia recovers 80% of money lost from glitch Uganda downgrades GTB Motsepe enters MultiChoice-Canal+ deal ByteDance pulls the plug on WeChat Telecom Egypt partners with Tejas Network The World Wide Web3 Opportunities Fintech Ethiopia’s biggest bank recovers 80% of $14 million lost in system glitch Ethiopia’s biggest bank, the Commercial Bank of Ethiopia (CBE), has made significant strides in recent years. With over 46 million account holders and 82 years of experience, the CBE oversees the country’s financial sector. However, even giants stumble. A glitch in the CBE system allowed for free cash withdrawals at ATMs and electronic transfers, losing up to $14 million in the process. For thousands of Ethiopians, especially university students, March 16 was unlike any other day. A technical problem during routine “maintenance and inspection activities” led to the glitch. News spread quickly; over 15,000 people took advantage of the glitch, with withdrawals ranging from 9 cents to over $5,000. Currently, the CBE has recovered 80%— about $11 million of the money lost in its glitch. While nearly 15,000 Ethiopians have willingly returned the extra funds they withdrew, the bank has reportedly released the names and account details of the remaining 567 individuals in an attempt to shame them into giving it back. According to Abe Sano, the president of the CBE, the outstanding amount is insignificant to the bank, but not collecting it sends the wrong message. Zoom out: 490,000 transactions were reportedly conducted before the CBE detected the glitch. News of the glitch initially spread particularly amongst university students, prompting universities nationwide to urge their students to return any extra funds they received. Experience fast and reliable personal banking with Moniepoint Give it a shot like she did . Click here to experience fast and reliable personal banking with Moniepoint. Banking BoU downgrades Guarantee Trust Bank Uganda to Tier II Institution In a bid to strengthen Uganda’s banking system and make it more resilient to external shocks, the Ugandan government implemented stricter capital requirements for financial institutions in July 2023. The Ugandan government, through its finance ministry, implemented new regulations that require commercial banks to hold a minimum of $38.6 million in capital reserves. This is a 506% increase from the previous requirement of $6.4 million. Banks have until June 30, 2024, to comply with the new rules. As a result, some banks have downgraded operations. Guaranty Trust Bank Uganda Ltd, a subsidiary of Nigeria’s Guaranty Trust Bank, applied to be downgraded from a commercial bank to a credit institution following anticipated failure to meet the new capital buffer requirements. Uganda’s apex bank granted the request and demoted Guaranty Trust Bank (GTBank) from a Tier I commercial bank to a Tier II credit institution which has a minimum capital requirement of $275,802. This change also affects Kenya’s ABC Capital Bank and Opportunity Bank. As a result of the downgrade, these banks are restricted to accepting customer deposits and maintaining savings accounts. However, they are no longer permitted to open current accounts for customers or engage in foreign currency trading. Streaming South Africa’s richest Black man, Patrice Motsepe, enters talks for Canal+ bid on MultiChoice Since 2020, French broadcasting company, Canal+ has increased its stake in MultiChoice, Africa’s pay-TV giant from 20.1% to 35.01% and made an offer in February 2023, to buy Multichoice’s remaining shares for R105 per share. The offer was deemed too low by Multichoice and was rejected. Earlier this month, Canal+ increased its offer to R125 per share—a 20% increase from the initial offer of R105—a week after a regulatory panel mandated the French broadcaster to make an offer to MultiChoice’s ordinary shareholders and extended the offer deadline to April 8, 2024. Although both companies agreed to cooperate following the offer increase, the bid for MultiChoice just got a whole lot more interesting. Why? Patrice Motsepe, president of the Confederation of African Football and South Africa’s wealthiest Black man, reportedly worth $2.4 billion, is entering talks to join Canal+’s bid. According to Bloomberg, the discussions are still at an early stage and there is no guarantee that an agreement will be reached. Motsepe, who founded Ubuntu-Botho Investments and African Rainbow Capital (ARC), also holds investments in mobile network operator, Rain and neobank, TymeBank. Why is this important? Canal+ might only be able to hold a maximum of 20% of voting rights, a major hurdle due to South African regulations that limit foreign ownership of broadcasters to 20%. Motsepe’s involvement in the deal could ensure MultiChoice remains a South African entity, meeting the local ownership threshold required by authorities. No hidden fees or charges with Fincra Collect payments via Bank Transfer, Cards, Virtual Account & Mobile Money with Fincra’s secure payment gateway. What’s more? You get to save money for your business when you use Fincra. Start now. Social Media ByteDance pulls the plug on LetsChat In 2021, ByteDance, makers of TikTok brought the fight to WhatsApp and Telegram on the continent through its messaging platform: Let’sChat. Launched in March 2021, LetsChat allowed users similar capabilities to other messaging platforms: text, voice call, and video call. While experts gave the budding messaging platform little or no chance of displacing established rivals like WhatsApp on the continent, Let’sChat forged on, amassing over 7 million users in the process with a bulk of them from Nigeria and others from Mali, Angola, and Côte d’Ivoire. To set itself apart from the market, Let’sChat heavily advertised itself as a data-saving platform, offering free video and voice calls to its users. The feature was a great incentive for
Read MoreLoan defaults eat into Kenya’s banking giant Equity Group’s profits
Equity Group, a Kenyan bank with assets worth about $10 billion across East Africa, has reported a 6.5% decline in net profits from $341.9 million to $320.4 million for the year ended December 31, 2023, due to rising loan defaults. Equity’s stock of bad loans jumped to $874.8 million last year from $481.9 million in 2022, revealing struggling local economies and hurting the bank’s growth while forcing the lender to increase provision for non-performing loans (NPL) to $269 million from $117.5 in the period. The Central Bank requires Kenyan banks to set aside funds to cover loans where borrowers fail to pay principal or interest for 90 days. “The NPL trend is consistent with management’s view as at the investors 3rd quarter briefing that NPLs had peaked. Prudent risk management culture led the board to approve a proactive derisking of future performance by providing for the lifetime expected loss on outstanding NPLs,” James Mwangi, Equity Group CEO, said on Wednesday during the release of the results in Nairobi. Mwangi added that the manufacturing, real estate, and logistics sectors accounted for the bank’s largest share of NPLs, pointing to a tough business environment for most local firms. Bad loans comprised 32% of the lender’s loan book. Since the COVID-19 pandemic, NPLs have been rising amid a tough business operating environment escalated by the devaluation of local currencies, rising interest rates, and record-high inflation. Rising taxes in Kenya have also eaten into the disposable income for most households and businesses, leading to loan defaults. Despite the profit drop, the Nairobi Securities Exchange-listed firm has retained a dividend payout of KES4 ($0.03) per share to shareholders, amounting to 36% of the profit after tax. The bank said interest income rose to $795.4 million up from $656.5 million while non-funded income grew 30% to $579.4 million. Kenya’s top lender by earnings also saw customer deposits grow by 29% to $9.9 billion. Equity, which also operates in neighbouring Tanzania, Uganda, South Sudan, Rwanda, and DRC, is still ahead of its main rival KCB Group in profitability. KCB reported an 8.3% drop in net profits to $285.9 million due to a jump in operating expenses.
Read MoreGTBank loses commercial bank status after Bank of Uganda downgrade
The Bank of Uganda (BoU), Uganda’s apex bank, has downgraded Guaranty Trust Bank (GTBank) from a Tier I commercial bank to a Tier II credit institution. The bank, alongside two others, had applied to be downgraded following anticipated failure to meet the new capital buffer requirements. The other banks affected are Kenya’s ABC Capital Bank and Opportunity Bank. The downgrade means the three banks can only accept customer deposits and hold savings accounts. However, they will not be able to open current accounts for customers or trade in foreign currency. “The change of the status of the three commercial banks to credit institutions follows decisions by the respective boards of directors, to adopt a strategic shift and reposition these institutions to serve their core customer base,” BoU announced in a statement on Wednesday. In 2023, Uganda’s finance ministry passed regulations requiring commercial banks operating in the country to have at least $38.6 million as a capital buffer, up from $6.4 million. The three lenders, fearing they could not meet the June 30, 2024 deadline, applied to be downgraded. “These three institutions have been granted a transition period of three (3) months, starting from April 1, 2024, to June 30, 2024, during which they will make adequate arrangements to phase out products and processes that require a Tier I License,” BoU said. The central bank added that GTBank, ABC Capital Bank and Opportunity Bank meet the capital requirements for a Tier II license. Under the new regulations, the minimum capital requirement for a Tier II license is $6.4 million from $275,802. Other financial institutions affected by the new directives include microfinance deposit-taking institutions, which will now have to raise $2.5 million, and foreign exchange bureaus. Overall, about seven banks have yet to meet the new capital requirements ahead of the deadline.
Read MoreAccess Holdings’ Hydrogen posts first profit in two years
Hydrogen, the fintech arm of Access Corporation, holding company of Nigeria’s biggest bank by assets, declared profits of ₦161 million at the end of 2023. This is the first time Hydrogen will be posting profits since its launch in 2022, according to Access Corporation’s full-year financial statements. The two-year-old payments company closed December 2023 with an operating income of ₦2.08 billion. This “reflects the culmination of our strategic investments and diligent efforts in building a sustainable and resilient business model,” a company spokesperson from Hydrogen told TechCabal via email. Launched in 2022, the company fully commenced operations in 2023. Hydrogen has big ambitions: it wants to build Africa’s most powerful payment business network. It competes with other fintech players such as GTCO’s Squad, Flutterwave, Moniepoint, Stanbic IBTC’s Zest, and Paystack. While it acknowledges the saturated payments market, Hydrogen believes that its approach is different, relying on “a combination of strategic partnerships, technological prowess, and a deep understanding of the market dynamics”. Hydrogen offers products and services that include InstantPay, Payment Gateway, POS, Card, and Switch services. The fintech hopes to serve a clientele that cuts across the private and public sectors. The company claims to have processed approximately ₦15 trillion in transactions across its different channels in 2023. It also launched eight payments products in the same year.
Read MoreCAF president Patrice Motsepe to join Canal+’s bid for MultiChoice
Patrice Motsepe, president of the Confederation of African Football and South Africa’s richest black man, is in talks to join Canal+’s bid for MultiChoice, according to reporting by Bloomberg. The report further states that the discussions are still at an early stage and that there is no guarantee that an agreement will be reached. Motsepe, worth $2.4 billion according to Forbes, is the founder and chairman of Ubuntu-Botho Investments and African Rainbow Capital (ARC). Some of the companies’ investments include mobile network operator Rain and neobank TymeBank. Motsepe also has mining interests through Africa Rainbow Minerals (ARM). Earlier this month, Canal+ made an offer of R125 per share for the pan-African broadcaster, a 20% increase from the initial offer of R105 per share submitted in early February. The offer valued MultiChoice at about $2.9 billion. Since 2020, the French company has increased its stake in MultiChoice from 20.1% to 35.01% when the first offer was made in February 2023. Since Canal+’s flirtations, experts have pointed out the regulatory complexities that the deal to acquire MultiChoice might incur. Motsepe’s involvement in the deal may be able to address some of these complexities, which include the fact that foreign companies are not allowed to have more than 20% voting rights in South African broadcasting companies. “With its roots in South Africa, the coming onboard by [Motsepe] would ensure Multichoice remains in South Africa and meets the threshold of local ownership required by authorities,” said Mpumelelo Ndiweni, CEO of Colmin Group, an African markets advisory and investment company.
Read MoreKenya Airways cuts losses, records first operating profit in years
Kenya Airways (KQ) has cut its net loss for the year ended December 31, 2023. The national carrier recorded the first operating profit in nearly seven years on the back of higher revenues after passenger traffic grew 35% year-on-year. KQ, listed on the Nairobi Securities Exchange (NSE), reported a net loss of $171.9 million, down 47%—even though its revenues improved by 53% to $1.35 billion. The loss-making airline flew 5 million passengers in 2023, about 36% of Ethiopian Airlines’ (ET) passenger traffic in the 2022/23 financial year. ET is the carrier’s main competitor in the region. “In the near term, the focus is on completing the capital restructuring plan whose main objectives are to reduce the Group’s financial leverage, fund growth, and increase liquidity to ensure the company can operate at optimal levels,” Allan Kilavuka, KQ Group CEO told investors on Tuesday during the release of 2023 financial results in Nairobi. KQ, which has been in the red since 2012, promised investors that they are looking to return to profitability for the first time in more than a decade this year. Accumulated losses over the years have seen Kenya’s flagship carrier dip into negative equity, making it technically insolvent with the government pumping billions in bailout. Last year, the company tapped US advisory firm Seabury Consulting to help it restructure the business and develop a revival plan to wean it off state bailouts that have cost Kenyan taxpayers billions. The carrier is currently in the process of hiring another consultant to help find an equity investor amid a new push to revive the business. “Our focus is on completing the capital restructuring plan to reduce the Group’s financial leverage and increase liquidity to ensure the company can operate at optimal levels. The aim is to place Kenya Airways on a stronger footing and provide a stable base for long-term growth,” Group CFO Hellen Mathuka said during the release of the results.
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2024 NYSC updates and answers to major questions
The National Youth Services Corps (NYSC) scheme is one of the most prominent programs for Nigerian graduates of tertiary institutions. For every NYSC stream mobilisation, there are usually similar questions bugging the minds of potential corps members. As such, we have taken time to curate such major questions and answers that address concerns that may arise for NYSC batches in 2024 and the future: 1. What are the age requirements for 2024 NYSC registration Answer: You must be between 18 and 35 years old at the time of registration. 2. What if I missed the registration deadline for NYSC? Answer: You’ll likely have to wait for the next registration period announced by NYSC. 3. Can I choose the specific location of my 2024 NYSC service? Answer: You can indicate your preference, but the final deployment decision rests with NYSC based on national needs. 4. What happens if I have a health condition that might affect my NYSC service? Answer: Disclose any health conditions during registration and provide necessary medical documentation. NYSC might assign you to a service role that accommodates your condition. 5. What are the consequences of not registering for NYSC when eligible? Answer: You might face restrictions from applying for certain jobs or further education in Nigeria. 6. Is there financial assistance available for 2024 NYSC members? Answer: Yes, NYSC provides corps members with a monthly allowance. 7. What are my clothing options during the 2024 NYSC camp period? Answer: The dress code typically involves comfortable white tops and knickers and the NYSC uniform. 8. Can I use my phone and access the internet during NYSC camp? Answer: Yes, you’ll likely have access to your phone and internet, but there might be regulations regarding usage during specific times. 9. What happens after the NYSC camp orientation? You’ll be posted to your designated place of primary assignment (PPA) to commence your national service. 10. What are the different types of NYSC Place of Primary Assignment (PPA)? Answer: PPAs can be schools, hospitals, government institutions, or private organisations approved by NYSC. 11. Can I request a change in my PPA if I’m facing challenges? Answer: You can submit a request to NYSC officials, but approval is not guaranteed. 12. What are some safety tips to follow during the NYSC service year? Answer: Be aware of your surroundings, maintain good personal security practices, and inform trusted individuals of your movements. 13. What are some ways to make the most of my NYSC service year? Be proactive, participate actively in your assigned duties, and network with fellow corps members and professionals. 14. What are the benefits of completing the NYSC program? Answer: NYSC provides valuable work experience, leadership skills development, and the opportunity to contribute to national development. 15. Is there a certificate awarded upon completion of NYSC service? Answer: Yes, you’ll receive a Discharge Certificate upon successful completion of the program. 16. What are some career options to consider after NYSC? Answer: The skills and experience gained during NYSC can be applied to various fields, depending on your initial qualifications and the service you performed. 17. Can I travel within or outside Nigeria during my 2024 NYSC service year? Answer: Permission from NYSC officials is required for any interstate or international travel during your service year. 18. What happens if I get sick or require medical attention during 2024 NYSC service? Answer: You’ll have access to healthcare facilities approved by NYSC. 19. What are some resources available to support NYSC members? Answer: The NYSC website, social media channels, and designated officials can provide guidance and support. 20. How can I stay connected with fellow NYSC members after the service year? Answer: Utilise online alumni groups and social media, or maintain personal connections established during your service. 21. Will there be a mobilisation for NYSC Stream B 2024? Answer: Yes, NYSC will likely hold a mobilisation for Stream B later in the year. Keep an eye on the NYSC website and social media for announcements. 22. When can I expect the registration for NYSC Stream B 2024 to open? Answer: There’s no official date yet, but based on past trends, registration for Stream B might occur sometime in July or August 2024. 23. What documents do I need to upload during online registration for NYSC? Answer: You’ll typically need scanned copies of your final year ID card, statement of results, passport photograph, medical certificate, and any additional documents specific to your field (e.g., for medical students). 24. How much does it cost to register for NYSC 2024? Answer: The registration fee is usually around ₦2,786.24, payable through the Remita platform integrated within the NYSC portal. 25. Can I use a proxy to register for NYSC online? Answer: No, registering by proxy is strictly prohibited by NYSC. You must register yourself using your details. 26. What happens if I make a mistake during NYSC 2024 online registration? Answer: There might be limited options to edit information after submission. Contact NYSC officials if you discover a critical error. 27. What are some medical conditions that might affect NYSC service placement? Severe chronic illnesses, disabilities requiring special accommodations, or mental health conditions that could impede service might be considered during deployment. 28. Is it mandatory to participate in all NYSC camp activities? Answer: Yes, active participation in camp activities like lectures, drills, and community service projects is generally expected from corps members. 29. What are some acceptable reasons for missing NYSC camp registration? Answer: Valid reasons might include severe illness with documented proof of national emergencies preventing travel. Approval from NYSC is necessary. 30. What are the consequences of absconding from NYSC camp? Answer: Absconding from camp can lead to serious repercussions, including extension of service and potential legal actions. 31. Can I use social media freely during NYSC camp? Answer: While social media usage might be allowed, there might be restrictions on specific platforms, content posted, or excessive usage during designated times. 32. What are some things to pack for NYSC 2024 camp
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