Author: Akin Naphtal

The Nigerian Communications Commission (NCC), has said that Small and Medium Enterprises (SMEs) are very critical to creating wealth, employment, and economic prosperity and would play a key role in the efforts to fully restore the country’s economy. Speaking, the Executive Commissioner, Technical Services in the Commission, Engr Ubale Maska, who stated this at the opening of the National SMEs/Entrepreneurship Forum for Start-ups in Emerging Technologies organised by the NCC in Abuja, observed that the transformative agenda of President Bola Tinubu is to turn around the economy through SMEs, Start-ups and other technological innovations. The Commissioner, Maska, who was represented…

Mobile banking has become increasingly popular, offering convenience and efficiency to users. Nigeria, being one of Africa’s leading economies, has witnessed a rise in the adoption of mobile banking apps. These apps have become a game-changer for millions of customers. We take a closer look at five of the most popular bank apps, and how they are revolutionizing the way we manage our finances. 1. Opay App Opay is a mobile-based platform that offers a range of financial services, including payments, transfers, loans, savings, and more. The app which was initially launched as a ride hailing platform in 2018, has…

Amazon’s streaming platform, Twitch, has announced its decision to end its operations in South Korea by February 2024, due to the considerable financial challenges posed by high operating costs and inflated network fees in the country. Twitch’s CEO, Dan Clancy, expressed the company’s inability to find a sustainable business model in Korea, citing persistent losses. He revealed that network fees in the country are ten times higher than those in most other nations, despite the company’s efforts to reduce operating costs. South Korea’s Ministry of Science and ICT has issued a statement acknowledging the ongoing review of network usage fees,…

Kenya’s High Court has temporarily halted the implementation of Maisha Namba, a proposed digital ID system intended to replace the unsuccessful Huduma Namba, introduced in 2005 as a permanent way of granting personal identification to Kenyan citizens. High Court Judge, John Chigiti, cited the absence of a data protection impact assessment, as the reason for the pause. The court ruling states: “The leave granted by the court operates as a stay restraining implementation or further implementation by any person of the respondents’ 1st November 2023 decision to roll out or pilot Maisha Namba, including the digital card, digital ID, unique…

Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, announced that it has secured a US$350 million long-term line of credit with the African Development Bank (AfDB). The agreement, which was signed during the ongoing 28th Conference of the Parties (COP 28), supports urgently needed financing for infrastructure projects to underpin sustainable development and economic growth. The collaboration is a significant milestone in a long-standing relationship, with AfDB becoming a shareholder in AFC in 2019, and the institutions co-investing in multiple transformational infrastructure projects. Most recently, both institutions joined the US, EU and governments of Angola, the…

Shanghai authorities, in a meeting with Microsoft President and Vice Chair, Brad Smith, have expressed their desire for Microsoft to play a role in advancing artificial intelligence (AI) technology to stimulate local businesses. Shanghai’s Communist Party Secretary, Chen Jining, conveyed the message during the meeting noting the importance of Microsoft’s involvement in promoting AI technology to enhance the local business landscape in the Chinese financial hub. In addition to encouraging AI promotion, Shanghai authorities expressed openness to collaboration with Microsoft on the study and development of technology-related governance frameworks and standards. This could create an avenue for establishing guidelines and…

After gaining a foothold in Eastern Europe in 2020, SME lending business, Lidya, has decided to close its operations in Poland and the Czech Republic, as it redirects its efforts towards the Nigerian market. Co-founded by Jumia co-founder, Tunde Kehinde, the seven-year-old company has a particular focus on Lydia Collect, a loan recovery tool that initially served its in-house SME lending business but has since become a central element of Lidya’s new business direction. Lidya Collect, developed on the foundation of Nigeria’s Global Standing Instruction (GSI) technology, serves as a tool for recovering loans. The GSI is a last-resort system…

InCoax Networks AB is pleased to announce the formalization of a Memorandum of Understanding (MoU) with Nokia. As part of the collaboration, Nokia will offer InCoax’s system-solution for Fiber Access Extension within Nokia’s Gigabit Connect portfolio. The joint offering will target the global broadband operator market, in particular MSOs and cable operators. The aim is to commence deliveries through Nokia in the second half of 2024. The recently signed agreement establishes terms and guidelines for the global delivery of InCoax’s MoCA AccessTM-based solutions, designed for Fiber Access Extension with multi-gigabit performance over coaxial cable networks in multi-dwelling units (MDUs). This…

The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa has called on the government of Japan to leverage on the youthful population through strategic talent partnership that will nurture and build a workforce that can be exported. According to Inuwa, he stated this at the Ihatch startup incubation programme 2nd cohort demo day and 3rd cohort opening ceremony organised by the subsidiary of the agency, Office for Nigerian Digital Innovation (ONDI), in partnership with Japan International Corporation Agency (JICA) in Abuja. The 5-month free intensive incubation programme executed by the ONDI and hosted within the National…

The Nigerian Copyright Commission and the Nigeria Customs Service have agreed to strengthen their collaboration to develop new anti-piracy strategies to encourage creativity and boost the country’s creative economy, Following the statement released, it revealed the agreement was reached during a courtesy visit by the Director-General, NCC Dr John Asein, to the Comptroller-General of Customs, Bashir Adeniyi, at the NCS Headquarters recently. During the visit, the heads of both agencies acknowledged the strategic importance of intellectual property, particularly copyright, to the growth of the country and noted the devastation caused by the activities of copyright pirates in the sector. Motivated…