Nigeria is set to introduce new telecom tariffs today, Friday, January 10, 2025, marking the first price hike in 11 years. The country's communications regulator has given the green light to telecom operators to increase tariffs for voice, SMS, data, and other services.

The move is expected to have a significant impact on consumers, who will have to increase their budgets yet again in a country that has seen headline inflation rise from 29.9% to 34.6% between January and November 2024. The telecom sector, which employs over 15,500 people and contributes 13.5% to Nigeria's GDP, has been struggling to maintain its services and infrastructure amidst rising costs.

Telecom operators, such as Airtel and MTN Nigeria, have been facing significant financial challenges, including soaring diesel costs for powering cell towers, rising staff overhead, and forex volatility. In H1 2024, Airtel and MTN Nigeria jointly lost $484 million, with their dollar-denominated loans effectively doubling overnight, straining their finances further.

The tariff hike is seen as a necessary measure to ensure the survival of the telecom sector, which is critical to the country's economy. Without consistent investment, service quality is likely to deteriorate, affecting millions of Nigerians who rely on their services daily. The move is a hard pill to swallow for many, but it is a crucial step towards maintaining the sector's viability.

In other news, 25 African startups have been identified as ones to watch in 2025, according to venture capital firms. These startups, including Carbin Africa, Valify, and Pullus Africa, have demonstrated exceptional founding teams, products poised for significant market impact, or solutions to massive market needs.

Meanwhile, Egypt's headline inflation has decelerated for the second consecutive month, slowing to about 24.1% in December 2024, down from 25.1% in November. The country's Central Bank has held its interest rates since March 2024, but the latest inflation rate has raised hopes of the first interest rate cut since 2022.

In the world of crypto, the World Wide Web3 tracker shows Bitcoin at $93,668, Ether at $3,251, and Sui at $4.85, with varying daily and monthly changes.

Finally, opportunities abound for startups, with the SusHi Tech Challenge 2025 now open for applications, offering a grand prize of JPY10 million ($65,000) and business support for collaborations with government agencies and other organizations. The CcHub-Mastercard Foundation Edtech Fellowship 2025 is also accepting applications, providing $100,000 in equity-free funding, expert mentorship, and access to an investor network for African edtech startups.