Daily Wars Over Lagos Data Centers
Ecobank, a pan-African bank with a presence in 33 countries, has announced its decision to end its relationship with Mozambique. The move is part of the bank's strategy to focus on countries where it can grow and make better returns.
Despite the sale of its entire shareholding in its Mozambican business, including assets and four bank branches, to Malawi's FDH Bank, Ecobank remains committed to a pan-African digital strategy. Although it no longer operates branches in Mozambique, potential digital partnerships remain "in the background," signaling an ongoing commitment to pan-African digital banking connectivity.
The divestment represents a disciplined, return-focused management approach for Ecobank, improving capital discipline and enabling the bank to focus on markets with stronger growth prospects. The bank's first half of 2025 financial performance demonstrated strong revenue and profit growth, indicating robust operational and financial resilience despite this strategic divestment.
For Mozambique, banking services remain stable under FDH Bank, which may contribute positively to the country's digital banking landscape. However, the change represents a shift rather than a clear advancement for the local digital economy.
Meanwhile, in the telecom sector, Nigerian companies MTN Nigeria and Airtel have reported record profit margins in H1 2025, despite losing 1 million internet subscribers. Airtel's aggressive push into hyperscale infrastructure with its data centre in Lagos's Eko Atlantic City, designed from the ground up to support GPU servers, highlights growing competition that will benefit Africa's digital economy, driving down costs and expanding connectivity options.
The recent dip in internet subscribers for Nigerian telecoms is more of a market fluctuation than a structural threat. With data prices rising, Nigerians who once juggled multiple SIM cards may now be sticking with the one that gives the best data value, discarding the rest.
In the cryptocurrency market, Solana's current value is $168.30, with a daily increase of 2.41% and a monthly increase of 12.74%. Similarly, Bitcoin's current value is $114,557, with a daily increase of 0.29% and a monthly increase of 5.85%. Ether's current value is $3,684, with a daily increase of 1.12% and a monthly increase of 44.41%.
Elsewhere, the Nigerian animation industry is making strides, with "The Passport of Mallam Ilia," a $2 million feature film, serving as a case study in what it takes to animate a dream against all odds.
In addition, Bridge And Value and AlexBoyo World are hosting a trade mission to Paris for Nigerian businesses looking to scale into France and the wider European market from September 22-26, 2025.
MemeFi, a digital currency, continues to see significant growth, with its current value at $0.005137, a daily increase of 265.14%, and a monthly increase of 366.09%.
The news about Ecobank's exit from Mozambique and the ongoing developments in various sectors across Africa underscore the continent's dynamic and evolving digital landscape.
- After selling its Mozambican business, Ecobank continues to pursue a pan-African digital strategy.
- Despite its exit from Mozambique, Ecobank shows an ongoing commitment to pan-African digital banking connectivity.
- With better returns in mind, Ecobank focuses on markets with stronger growth prospects, including those in the fintech sector.
- A potential digital partnership remains in the background, hinting at future involvement in Mozambique's digital economy.
- Rising data prices in Nigeria have led to a reduction in the number of internet subscribers, but competition in the telecom sector is driving down costs and expanding connectivity options.
- The crypto market shows robust growth, with Solana, Bitcoin, and Ethereum all demonstrating gains in their respective values.
- MemeFi, a digital currency, is experiencing significant growth, with daily and monthly increases in its value. Meanwhile, the Nigerian animation industry is advancing, showcasing potential for success in the entertainment sector.
