Vodacom takes Maziv deal to court

Analysts expect Nigeria’s headline inflation rate for February 2025 to decelerate when the National Bureau of Statistics release inflation figures today.

If the predictions are correct, Nigeria’s headline inflation will decelerate for the first time since the NBS modified the way it calculated inflation. After the NBS rebased the CPI in January, inflation slowed to about 24.48%.

Analysts expect the deceleration to be driven by lower petrol costs and a stable naira. A decline in diesel and petrol prices due to increased output from Dangote Refinery helped temper inflation, with a cascading effect on the broader economy, driving down costs for consumers and businesses alike. Diesel prices dropped by 33% to ₦1,000/litre ($0.65), while petrol prices remained steady around ₦800+ ($0.52) per litre.

Analysts also believe that Nigeria’s inflation is at an inflection point—following the CPI rebasing—and expect inflation to accelerate as soon as April. Those analysts now predict that the CBN may fail to reach its inflation target by year-end due to global economic factors. 

Vodacom, South Africa’s second-largest telecom operator, and fibre company Maziv are taking their blocked merger deal to court in July 2025, hoping to overturn a decision that has stalled their fibre expansion plans for more than three years.

Vodacom first announced its plan to acquire a 30% stake in Maziv in 2021 to expand its fibre network across South Africa. The Independent Communications Authority of South Africa (ICASA), the telecom regulator, initially approved the deal in 2022, citing that it would “be in the best interest of the public,” but the deal hit a roadblock a year later when the Competition Commission advised against it.

The Commission feared the merger would reduce competition, giving Vodacom too much control over the fibre market. In October 2024, South Africa’s Competition Tribunal, a regulatory body for competition-related disputes, blocked the deal, preventing Vodacom from acquiring Dark Fibre and Vumatel, wholesale and home-based fibre subsidiaries of Maziv, respectively.

Vodacom and Maziv appealed the Tribunal's decision in November 2024, leading to a 26-day hearing. After months of deliberation, they have decided to take the fight to court in July 2025.

Mergers in South Africa take time. Between regulatory hurdles, competition concerns, and legal battles, major deals can drag on for years. Telecom firms argue that these delays slow infrastructure growth and discourage investment, while regulators insist they are necessary to protect market fairness.

Vodacom wants a stronger position in the fibre market, a key area as mobile data growth slows. Maziv sees the deal as a way to expand its fibre network with new capital. Both companies are betting on a courtroom victory, but the outcome remains uncertain.

Regardless of how the case ends, this battle will reshape South Africa’s telecom industry. If the merger goes through, it could trigger more industry consolidation. If the court upholds the block, it will serve as a warning: big corporations can’t push deals through without resistance.

On Wednesday, MTN Nigeria CEO Karl Toriola announced that the country's largest telecom operator has secured a piece of land at the futuristic city, Eko Atlantic, to build its new headquarters. While MTN is the first telecom operator to announce a move to the Atlantic, there’s been a flurry of large corporations heading there.

First Bank, a tier-1 commercial bank, manufacturing conglomerate Dangote Group, media groups TVC and Silverbird, and a flurry of real estate developers have all planted flags in the area. In 2022, the US Embassy commissioned a $537 million, 12.2-acre deal to build a consulate in the city with a boat dock.

Corporations are drawn to Eko Atlantic’s modern infrastructure, steady electricity—powered by gas and turbines—and planned business district. Its location next to Victoria Island makes it a prime spot for high-end commercial activity. While the Eko Atlantic still has undeveloped land, development is already underway; Alpha 1, a high-rise office building has been completed. The city is also a free trade zone, meaning companies operating there enjoy tax incentives and exemptions from foreign exchange controls.

This futuristic city is not for the average Nigerian. Land in Eko Atlantic costs between $1,150 and $1,720 per square meter, making it one of the most expensive areas in the country. It’s a playground for the ultra-wealthy—telecoms, banks, and multinationals that eke out trillions of naira in revenue annually. They can afford it.

Eko Atlantic’s rise mirrors a familiar shift in Lagos’ tech ecosystem. Startups once clustered in Yaba, the so-called “Silicon Lagoon,” before migrating to Ikoyi, where high-rise offices and luxury spaces project status. Just as startups seek prestige and association with global players, big corporations in Nigeria are using Eko Atlantic to cement their modern, forward-looking image.