South East LGAs Set To Enjoy High-Speed Internet, Courtesy Zinox

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Zinox Technologies Ltd, Nigeria’s foremost indigenous Information Technology powerhouse, is set to connect the entire South East region to the information super-highway, with the rollout of broadband connectivity in the 95 local government areas in the region.

The foregoing was disclosed by Executive Vice-Chairman, Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta.

The NCC boss made this known on Tuesday while speaking at the Anambra State Broadband Infrastructure Development Stakeholders Forum.

Zinox, a globally-renowned tech giant, is one of the infrastructure companies (InfraCos) licensed by the Federal Government to roll out metropolitan fibre-optic infrastructure across Nigeria. The InfraCos are expected to fill critical infrastructure gaps and enable high-speed broadband service in the various geopolitical zones, with Zinox licensed to deploy the services in the South East region as part of the soon-to-evolve broadband revolution in the country.

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Speaking at the stakeholders’ forum, Danbatta reiterated the role of Zinox in the emerging digital revolution in the South East. Further, he hailed the Anambra State Governor, Willie Obiano for waiving the contentious Right of Way charges.

South East LGAs Set To Enjoy High-Speed Internet, Courtesy Zinox-Brand Spur Nigeria
zinox whizkid logo-Brand Spur Nigeria

Right of Way charge is a levy paid by telecommunication companies to state governments, permitting telecommunication companies to dig up the roads and install telecommunications hardware such as optic fibre cables that carry internet traffic.

Danbatta said: “Under this initiative, the South-East Infraco licensee (Messrs. Zinox Technologies Ltd.) will be required to provide at least one Point-of-Access (PoA) in each of the 95 LGA’s that constitute the region and interconnect them with 1,314m of Optic Fibre Cable (OFC).

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“Right-of-Way (RoW) charges is a major limiting factor to the provision of broadband services in Nigeria, as it slows down network deployment with the cost of the limited capacities ultimately passed to the subscribers. I must applaud His Excellency and Anambra state, who is one of the two states that have not just reduced the Right of Way charges offered to operators, but waived it completely. For this, we are eternally grateful. This action, is sure, to put Anambra State on the global map of Digital Economy.’’

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The multi-billion Naira project by Zinox has been hailed by economy watchers and other analysts as a potential game-changer, with the capacity to create jobs and other employment opportunities for millions, place the South East on the path of rapid development and unleash the sheer latent capacities of the youths and budding human capital in the region – a fact acknowledged by the NCC EVC.

“Result of study has shown that for every 10 percent increase in Broadband penetration, there is a corresponding 1.38% increase in GDP,’’ said Danbatta.

‘‘This RoW waiver, will also make Anambra State more attractive to network operators and attract investment in the infrastructure needed to support economic wellbeing of your Excellency’s economic jurisdiction. Giving up the RoW fees today is like separating seed that you will sow to guaranty a prosperous future (Digital foundation) in numerous thematic areas: Commerce, Education, Agriculture, Finance and Trade Education Health and Social, Business and Industry, Transport and energy, Safety and Security etc.,’’ he concluded.

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Zinox was licensed based on the NCC’s Open Access Model (OAM) in line with the National Broadband Plan (NBP) of (2013 – 2018) now revised to (2020 – 2025).

By the provisions of the NBP, Nigeria is expected to attain significantly improved data download speeds: a minimum of 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90% of the population by 2025 at a price not more than N390 per 1GB of data (2% of median income or 1% of minimum wage).

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Latest News

Cityneon Raises S$235 Million; Well Positioned for Next Growth Chapter

  • The global experience entertainment company gets a S$235 million shot in the arm, closes its private fund raising in April 2021
  • Investors both new and existing include Singapore's Pavilion Capital, Seatown Holdings International and EDBI, Qatar's Doha Venture Capital and financial institutions and family offices in Singapore and China
  • These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan
  • Funding comes just after the Group acquired multi-year licensing rights for James Cameron's AVATAR touring exhibition, and two original artefacts IP on the ancient civilization Machu Picchu from Peru and Ramses the Great (Ramses II) from Egypt
  • Investments position the Group well to bring experiences across the globe, targeting to launch six experiences in China and five in the U.S. by the end of 2021, with more in other parts of the world

SINGAPORE - Media OutReach - 21 April 2021 - Cityneon Holdings ("Cityneon", the "Company"/collectively with its subsidiaries, the "Group") raised S$235 million in the most recent round of private funding. The latest round of funding adds seasoned investors to Cityneon's already strong stable of shareholders.

This funding round was led by Singapore's Pavilion Capital, Seatown Holdings International, EDBI, and Cityneon's Executive Chairman & Group CEO, Mr. Ron Tan. EDBI and Pavilion Capital are existing shareholders of Cityneon whilst new investors include Seatown Holdings International, Qatar's Doha Venture Capital, which will now own approximately 4 per cent of the Group, and other financial institutions and family offices in Singapore and China.

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These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan to form a new and strong shareholder base for the Group. Mr. Johnson Ko and Mr. Ron Tan remain as the largest shareholders of the company via their combined entity, West Knighton Limited.

The Group is now well positioned for its next growth chapter and will use the proceeds for capital expenditure that includes building more of its various intellectual property (IP) exhibition sets, totaling 24 travelling and four semi-permanent sets under the Studio IP partnerships and three travelling sets under the original artefact IP partnerships by the end of 2022.

Already, the Group just signed its fifth IP rights with Avatar from 20th Century Studios last year. Amidst the anticipation from Avatar fans worldwide, Cityneon will debut a multi-sensory Avatar exhibition in Chengdu, China in May 2021, ahead of the Avatar movie sequel which is slated for release in 2022. Avatar is the world's top grossing film of all time at over US$2.8 billion, and adding millions more after its successful re-release in China in March 2021. Avatar's director James Cameron has announced that he will be producing four sequels with 20th Century Studios, with the first sequel slated for release next year. Disney acquired 20th Century Studios for US$71 billion in 2019.

The Company also recently entered the original artefacts IPs space and will stage international exhibitions of the treasures of the ancient civilization Machu Picchu from Peru in Boca Raton, Florida and Pharaoh Ramses II from Egypt in Houston, Texas. These two experiences will start welcoming visitors in October and November 2021, respectively.

Other IP rights that the Group holds include partnerships with Universal Studios for Jurassic World: The Exhibition, Marvel for Avengers S.T.A.T.I.O.N., Lionsgate for The Hunger Games: The Exhibition and Hasbro for Transformers Autobot Alliance. All in, Cityneon holds the IP rights for five of the top 10 worldwide box office hits and two artefacts IP from Peru and Egypt. The Group expects to have six sets of its various IP rights travelling across China, and five travelling and permanent sets in the United States, with a few more in other parts of the globe.

The Group will also be reopening experiences that were temporarily closed in 2020, aiming to provide visitors with a safe entertainment option. These include the Marvel Avengers S.T.A.T.I.O.N. in Toronto, Canada that will be re-opening in May 2021; and the Marvel Avengers S.T.A.T.I.O.N. exhibition in Lotte Mall in Seoul, Korea in April 2021; the same exhibition space which previously housed Jurassic World: The Exhibition, another IP experience exhibition by the Group in 2019. In the past month, the Group also witnessed record visitor numbers at their semi-permanent installations in Las Vegas, USA, signaling a strong comeback and demand for their immersive experiences, as they step into the 6th year of operations there.

While there are exciting plans lined up, the Group is not resting on its laurels. More Hollywood IPs and artefact IPs can be expected, and there will be further announcements on new IP verticals in entertainment experiences that the Group is looking to enter.

Mr. Ron Tan, Executive Chairman & Group CEO of Cityneon, said: "It is exciting that the Company is going through such strategic expansion as one of the largest providers of exhibition entertainment experiences globally. The S$235 million funding round sets a solid foundation for us to invest in developing more of our entertainment experiences, to stage even more exhibitions of the five box office hits and two artefact IPs that we hold the rights to all over the world. I'm thankful that our strong investors base, now from Singapore, Hong Kong, China and the Middle East, have trust in our vision, and believe alongside us that this space of big ideas and big experiences will only grow."

By the end of this year, Cityneon will arguably be the largest provider of exhibition entertainment experiences internationally; with global footprints in more than 50 cities and welcoming 10 million unique visitors across the world by 2022.

Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon's Executive Chairman and Group CEO, Ron Tan, together with Hong Kong veteran entrepreneur and investor, Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds approximately 10% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China's largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Other institutional shareholders of the Group include EDBI - a Singapore government-linked global investor, and Pavilion Capital - a Singapore-based investment institution which focuses on private equity investments, that made strategic investments in August and October 2019 respectively, to support the Group's further expansion globally. For more information, please visit www.cityneongroup.com.


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