Author: Akin Naphtal

The National Communication Authority (NCA) has clinched two prestigious awards at the 8th Africa Digital Economy Awards (ADEA) in Kenya. Recognized as the “Africa Communications Regulator of the Year,” the NCA, led by Director General Mr. Joe Anokye, stood out for its outstanding performance in overseeing the Ghanaian communications sector. In addition to this accolade, Mr. Anokye secured a spot among Africa’s Top 50 Digital Economy Leaders. The awards ceremony, held on November 10, 2023, at the Emara Ole Sereni Hotel in Nairobi, aimed to acknowledge and celebrate Africa’s digital champions, innovators, and groundbreaking inventions across various domains in the…

Nigerian digital bank, Eyowo, has remained in a state of uncertainty six months after the Central Bank of Nigeria (CBN) revoked its Microfinance Bank (MFB) license, preventing the fintech from reassuring its customers who are currently in limbo, as to when it can resume operations. The CBN revoked Eyowo’s MFB license over possible non-compliance, leading to a prolonged period of disruption with many Eyowo customers facing challenges in withdrawing their deposits. The startup, in a statement has attributed the delay in the resumption of operations to some processes that it needs to conclude. These processes include changing its name and…

Ghana’s Ministry of Communications and Digitalisation is set to unveil the re/Start initiative in collaboration with the Smart Africa Digital Academy (SADA) and Amazon Web Services (AWS). The launch of this digital skills program, aimed at enhancing the employability and entrepreneurial capacities of Ghanaian youth in emerging technologies, will take place on Tuesday, November 14, 2023, at the Ghana-Indian Kofi Annan Centre of Excellence in ICT (GI-KACE) in Accra. Guest expected to grace the occasion include the Minister of Communications and Digitalisation, Hon. Ursula Owusu-Ekuful; the Director-General of GI-KACE, Mr. Kwasi Adu-Gyan; the Country Director of SADA, Mr. Eric Akumiah;…

Vodafone Group Plc and Accenture have announced their intention to form a strategic partnership to commercialise Vodafone’s shared operations, which provide various services to Vodafone’s operating companies and partner markets. The partnership will create a new shared services unit, in which Vodafone will retain majority interest and management control, while Accenture will invest €150m for a minority stake. The new unit will leverage Accenture’s technology and transformation services, such as digital solutions, platforms, and artificial intelligence, to accelerate growth, enhance customer service, and drive significant efficiencies for Vodafone and its partners. “Today’s announcement is a significant development for Vodafone as…

INNGEN Tech, a leader in remote IT services has announced the opening of its new office in Tse-Addo a suburb of Ghana’s capital Accra to connect Africa’s top IT talent with global clients. With this move, the company hopes to employ 1,000 of the nation’s best IT specialists in the medium term. It has welcomed over 40 more talented young professionals to its team and has set a goal of having 100 employees by the end of the year. This will prepare the ground for hiring more than 1,000 young IT specialists in five years. INNGEN connects top tech talents…

Nigerian fintech giant, Flutterwave, has been granted reprieve in Kenya after the country’s high court permitted the Asset Recovery Agency (ARA) to withdraw a money laundering and fraud case against the payments company. The ARA, tasked with investigating and recovering proceeds of crime, initiated the case in August 2022, freezing $3 million linked to Flutterwave, as well as Hupesi Solutions and Adguru Technology Limited. The ARA withdrew the case on the grounds that further investigations revealed that Flutterwave was uninvolved in criminal activities such as money laundering and fraud. The judge, in his ruling, stated, “after considering all the facts…

International transportation network company, Bolt, has announced that as of December 7, 2023, Nigerians will no longer have access to its Bolt Food platform, as the company seeks to optimise resources and enhance overall efficiency. Bolt’s decision to withdraw from the Nigerian market reflects the challenging macroeconomic landscape that facing food delivery businesses in the country. Fuel price hikes have significantly impacted the sector, prompting logistics startups like Bolt to implement increases in delivery fees ranging from 20% to 50%. Nigeria’s fuel price surge, which reached a staggering 215% after President Bola Tinubu’s removal of subsidies in May 2023, has…

For its fifth showing, the Next Fintech Forum (NFF), among the largest fintech events in Francophone Africa, has been scheduled for 16th and 17th November at the Radisson Blu Hotel in Abidjan, Cote d’Ivoire. The forum, themed “Fintech and Commerce: How Fintech will shape commerce in Francophone Africa,” aims to attract innovators, big tech companies, and investors, to francophone Africa while fostering the development of Digital Financial Institutions (DFIs) to enhance financial inclusion. Speaking on the theme, founder and director of Next Fintech Forum, Alex Sea, stressed the goal of creating an inclusive and multi-stakeholder environment for reflection. “We want…

Nigerian fintech giant, Flutterwave, has been granted an International Money Transfer Operator (IMTO) licence by the Reserve Bank of Malawi, allowing Flutterwave to process international payments into Malawi while focusing primarily on remittances. Malawi’s remittances market has grown steadily since 2016, and currently constitutes 2% of the country’s GDP, according to data from the World Bank. With over 200,000 Malawians residing and working abroad, the market presents Flutterwave an opportunity to tap into the expanding international remittances sector. Flutterwave CEO, Olugbenga Agboola, has expressed gratitude to the Reserve Bank of Malawi for granting the IMTO licence, stating, “we are grateful…

The US arm of the Industrial and Commercial Bank of China (ICBC) has fallen victim to a ransomware attack which disrupted trades in the US Treasury market on Thursday 9th November, joining the string of victims targeted by cybercriminals in recent months. The attack was confirmed by ICBC Financial Services, the US unit of China’s largest commercial lender, with the unit adding that investigations were currently underway to discover the attack’s origin. The disruption, which experts say was caused by cybercrime gang, Lockbit, marks a concerning trend of increasing boldness by ransomware groups targeting even major financial institutions. Lockbit, known…