Author: Akin Naphtal

It was earlier reported that the fast-growing Nigerian FinTech Startup, Kuda Bank – incurred a net loss of ₦6,092,554,866 ($14,214,681) in the 2021. In a bit to provide answers to the cause of the tremendous loss, reports have highlighted bad loans and the immense increase in staff as major contributors to it. The loss incurred in the fiscal year is said to have nothing to do with the decline in revenue as there was a revenue increase by 4,315% which grew from ₦72,649,000 in 2020 to ₦3,207,177,570 in 2021. The loss however was caused by loan unreimbursed by clients and…

Tech-focused magazine, TechBerg, has unveiled Lagos State of Nigeria Honorable Commissioner for Science and Technology, Hakeem Popoola Fahm as its Tech Personality of the Week. An award-winning personality with decades of experience in Information Technology infrastructural solutions, cloud solutions, channel and people management. Born in 1958, he holds a Bachelor of Science Degree in Industrial Technology from Ohio University, Athens Ohio as well as a Master in Business Administration in Computer Information and Systems Science from the University of the District of Columbia (UDC), Washington DC. His wealth of experience cuts across different fields in IT. He began his career…

IBM has announced plans to acquire Dialexa, a leading U.S. digital product engineering services firm, to help companies drive innovation and achieve their digital growth agendas. The acquisition is expected to deepen IBM’s product engineering expertise and provide end-to-end digital transformation services for clients. Dialexa will be the sixth acquisition IBM has made in 2022, further bolstering the company’s hybrid cloud and AI skills and capabilities. Since Arvind Krishna became CEO in April 2020, IBM has acquired more than 25 companies. Thirteen of those acquisitions, including Dialexa, have been in IBM Consulting. Today’s news builds upon IBM Consulting’s prior acquisitions,…

AccessFintech, FinTech company evolving the capital markets operating model through data and workflow collaboration, announced the successful completion of its $60 million Series C funding round, led by WestCap. As the lead investor, WestCap brings deep experience building and scaling transformational software for capital markets with companies including Ipreo, iLEVEL, BrokerTec, Tradeweb and SIMON Markets. Kevin Marcus, Partner, WestCap, said, “Behind an exceptional leadership team, AccessFintech has established itself as the technology partner trusted to solve long standing workflow challenges on behalf of the world’s leading financial institutions, creating a powerful data collaboration network, driving massive efficiency gains and unlocking…

The UK government has announced plans to rolled out reforms to protect the economy from fraud and money laundering. The Economic Crime and Corporate Transparency Bill aims to “drive dirty money out of the UK,” read a press release by the Home Office. The Bill is currently in Parliament for a second reading that will take place next month. Organised criminals, terrorists, and kleptocrats will be targeted, by needing to verify their identity before being able to register a company in the UK. The new regulation will require more transparency from businesses forming limited partnerships, and simplify registration processes for…

Cassava Network, a Web3 rewards infrastructure protocol, has launched the first version of their Web3 DApp alongside their AfriMyth Avatar collection. The Avatars, inspired by pan-African mythology, are the foundation for Cassava’s upcoming Cassava ID rewards system that seeks to introduce millions of Africans to Web3 through partnerships with existing Web2 apps. Cassava Network aims to harness the growing interest in blockchain technology across Africa by creating a steppingstone for users to enter the world of cryptocurrencies and Web3. Developers can implement the Cassava rewards protocol into their existing apps, and in doing so reward their users while also introducing…

Geoffrey Onyeama, Nigerian Minister of Foreign Affairs has said Nigeria will collaborate with the Government of Finland to grow the Information and Communications Technology (ICT) sector in the country. Onyeama stated this in New York during a bilateral meeting with the Minister of Foreign Affairs of Finland, Pekka Haavisto, on the sidelines of the ongoing United Nations General Assembly (UNGA). Onyeama noted that Finland is a country that is reputable in the field of ICT, adding that Finland needed to leverage on the emergence of Nigeria as an ICT hub to expand its market in Africa. Onyeama further said the…

The managing director of Creditswitch, Tayo Adigun has been named one of the Top 25 Tech Personalities in Nigeria by a tech-inspired magazine, TechBerg. Dubbed “Nigerian Top 25 Tech Personalities”, the list is an annual rating of tech professionals in Nigeria who have distinguished themselves and contributed to the Nigerian technology industry. The list was unveiled in Lagos during the 6th Tech Innovation Awards organized by TechBerg Magazine, a publication of InstinctWave. Described as “an innovative thinker” Tayo Adigun was applauded for his quality innovative problem-solving skills and managerial style that have positioned Creditswitch as a major technology company in…

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider has launched a crypto education tour across 5 countries in French-speaking Africa as part of its mission to drive blockchain adoption and enable greater financial accessibility in the region. On September 10 2022, Binance kicked off the first meetup of the tour in Cotonou, Benin with a goal to empower crypto newbies and enthusiasts in the region with the right knowledge about blockchain technology and how to use it as a tool for financial freedom. The Benin meetup was an offline educational event introducing people to the world of cryptocurrency,…

Flutterwave, Africa’s payments technology company, has announced Google Pay, a mobile payment service, developed by Google, as a payment method on Flutterwave. As part of this collaboration, Google Pay will serve as an additional payment option for merchants on Flutterwave for business. This collaboration will offer safe and seamless payments, as well as convenient checkout experiences for customers. Google Pay is a safe, simple, and helpful way to make contactless payments in store, and also payments in apps and on the web. Users store their cards for Google Pay in Google Wallet, a digital wallet app that is available on…