Icasa gets tough on unused spectrum with new regulations
- South Africa's communications minister has announced a new 'use-it-or-lose-it' policy to prevent companies like mobile networks and broadcasters from hoarding valuable radio spectrum.
- Orange Ventures Africa is a prominent corporate venture fund investing in startups across 18 African countries, and with $350 million in assets under management.
- The Central Bank of Nigeria (CBN) has revoked Heritage Bank's license due to a breach of Section 12(1) of the Banks and Other Financial Institutions Act 2020.
The new 'use-it-or-lose-it' policy in South Africa is a positive step towards ensuring efficient use of valuable radio spectrum. Orange Ventures Africa's approach to venture capital in Africa is commendable, leveraging the infrastructure of its parent company to support startups. The revocation of Heritage Bank's license and the lifting of the ban on new account openings for fintechs by the CBN indicate challenges in the Nigerian financial sector.
