WATRA: Fintech, E-commerce, Digital Market Contribute 80% Growth in Telecoms Business across West Africa

Emma Okonji

The Executive Secretary of the West African Telecommunications Regulators’ Assembly (WATRA), Mr. Aliyu Aboki has said Fintech, E-commerce and Digital Marketing contributed as much as 80 per cent growth rate in telecoms business across West Africa in 2024.

Such growth, he stated, is largely driven by payment services offered by Fintech players, which cut across e-commerce and digital marketing.

Aboki who spoke at a virtual media interactive session recently, while presenting WATRA’s agenda with the theme: “Driving Digital Transformation Prosperity Through Collaborative Regulations: The WATRA Agenda,” said the growth rate increased to 21 per cent in 2019 and 60 per cent in 2023, before reaching 80 in 2024, occasioned largely by telecoms investments and infrastructural development across the region. 

According to him, the growth rate enhanced digital economy in West Africa, contributing $30 billion annually to the regional Gross Domestic Product (GDP).

Giving WATRA’s role in the growth of telecommunications business across West African countries, Aboki said: “WATRA is not a regulator, but an association of regulators in the sub-region of West Africa, with a responsibility to improve telecoms service delivery in West Africa, through collaboration. WATRA’s role in all of these growth areas is that it supports and promotes regulatory harmonisation, facilitates infrastructure development and encourages development across the regulatory bodies in different West African countries. WATRA helps to bring speed of development in West Africa.”

Giving details of WATRA’s plan and focus areas, Aboki said: “WATRA will continue to focus on its service expansion pan and increase collaboration in order to extend connectivity to rural areas and under-developed areas in West Africa. We will collaborate with the International Telecommunications Union (ITU) to leverage technology that will advance development in West Africa. We will ensure that new entrants in satellite and space technologies, maximise the benefits to enhance the growth of telecoms business across West African countries, and as well promote cybersecurity and data protection among member states.       

Fielding questions from journalists on how best to address, the issue of disparity in telecoms infrastructure among ECOWAS states, Aboki said WATRA would ensure that countries with more advanced telecoms infrastructure, share their experiences and methodologies with countries that have less telecoms infrastructure.

“For example, some countries do not have policies on co-location of telecoms infrastructure and WATRA was able to help build the capacities of some of the regulators in such a way that it attracted investors to invest in their telecoms infrastructure rollout. WATRA is also encouraging infrastructure sharing among telecoms operators in different regions,” Aboki said.

In the area of possible cost reduction in spectrum management across regions, Aboki said spectrum management remained key, but stressed that most times, different regions use spectrum management to raise revenue for the regions. He however said if spectrum was overpriced, it would affect the level of investments. At WATRA, we advocate best practices in spectrum pricing to ensure even distribution and easy access to spectrum. We will continue to advocate for best practices to be followed by regions in spectrum allocation, Aboki further said. 

Addressing the challenges of high roaming charges and the disparity in roaming charges across West African countries, the WATRA boss called for a uniform tariff rate for roaming charges in West Africa, adding that WATRA will ensure a bilateral agreement between countries to achieve it.

Worried that data generated in West Africa, are still transmitted to internet hubs in Europe and America, before getting to its final destination in West Africa, Aboki      said WATRA had been advocating for Internet Exchange Point structure for West Africa, insisting that it will boost connectivity across West African countries, and also reduce cost of data in West Africa.

“WATRA is working towards improving the interconnectivity of infrastructure companies. Infrastructure companies should be able to interconnect within West Africa, instead of allowing our data to first travel to Europe before returning to West Africa. We need more of the West African data to be hosted in data centres located in West Africa and not in Europe in order to save cost. Our priority is to increase regional connectivity, reduce cost of data and enhance access to spectrum,” Aboki said.

  • Related Posts

    WAEC extends registration for 2025 CB-WASSCE for private candidates to September 19 

    The West African Examinations Council (WAEC) Nigeria has announced an extension of the registration period for the Computer-Based West African Senior School Certificate Examination (CB-WASSCE) for Private Candidates, 2025 Second…

    ARADEL reports N23 billion in trades as All-Share Index stages 4-day winning streak 

    The Nigerian All-Share Index ended the trading day on 10th September in positive territory, rising by 569.3 points to close at 140,365.4. This represents a 0.41% gain from the previous…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    WAEC extends registration for 2025 CB-WASSCE for private candidates to September 19 

    ARADEL reports N23 billion in trades as All-Share Index stages 4-day winning streak 

    NUPRC secures over $400 million for decommissioning liabilities – Official

    NUPRC secures over $400 million for decommissioning liabilities – Official

    NNPC Retail reports N395.5 billion loss in 2024

    NNPC Retail reports N395.5 billion loss in 2024

    OpenAI signs $300 billion cloud computing deal with Oracle 

    Nigeria Customs announces online CBT schedule for recruitment exercise nationwide 

    1 Million Computers: Zinox partners KongaCares to computerise schools 

    Larry Ellison dethrones Musk as world’s richest man after $101 billion net worth rise 

    Lagos Govt to demolish shanties under high-tension cables in Makoko 

    The 10 Nigerian CEOs who own the most shares in the listed companies they lead 

    Mele Kyari ‘honors’ EFCC ‘invitation’ over alleged fraud investigation at NNPCL

    Firstbank launches Firstmonie Merchant Solution to advance digital payments across nigeria

    TotalEnergies nears N4.5 billion loss in 2025, projects N2.2 billion Q4 decline 

    EFCC declares Emeka Ufomba wanted over alleged diversion of public funds 

    Nationwide blackout as Nigeria’s national grid collapses again 

    TD Africa and IBM Spotlight Digital Innovation at GITEX Nigeria 2025 

    Indigenous oil producer, Petralon proves community partnership drives business success 

    World’s richest: Larry Ellison gains $70 billion in 1 day, closes in on Elon Musk title 

    Euro: Naira strengthens to N1,765/€, boosted by French economic strain 

    Maximising business productivity with Mikano Power’s integrated power solutions 

    Raenest to Host Raenest Exchange 2025 in Lagos for Founders, Professionals, and Creators 

    The intrinsic value – market value vs real value. Takeaways for investor 

    GenCos pose biggest threat to NERC’s net billing plan as solar dims grid reliance in Nigeria – Energy expert Omonfoman 

    NUPENG, IPMAN suspend strike after agreement with Dangote Refinery

    NUPENG, IPMAN suspend strike after agreement with Dangote Refinery

    Reps summon Transportation Minister over urgent railway safety concerns in Nigeria 

    FG restricts NNPCL Tax Credit road contracts below N20 billion to indigenous firms 

    Taming the Inflation Headwind

    Water Safety in Focus with Nestlé Water Quality Advocacy Campaign

    Heirs Insurance Group Rated “A”, “A1” by Augusto &Co

    Demand for Lafarge Africa, Others Lift Stock Market by N254bn

    CreditPRO Obtains Operating License from CBN to Expand SMEs  Lending

    Amid Tightening Stance, CBN Raised N26.4trn via T-Bills, OMO in Eight Months

    Lagos Sets to Tackle Food Post-harvest Losses with Mega Food Storage Facility

    AI, energy transition among Africa’s ‘opportunities in disguise’ – Shettima

    AI, energy transition among Africa’s ‘opportunities in disguise’ – Shettima

    SKYWAY vs. NAHCO: Which stock offers better value for investors now? 

    NUPENG suspends two-day strike as Dangote Group agrees to unionisation deal