Author: Akin Naphtal

Enterprise Technology Provider, NCR Corporation, has engaged in a strategic relationship with the Bank of New Zealand (BNZ) to assist in running the latter’s ATM services. In a media release, it states that the agreement is in line with the Bank of New Zealand’s digital transformation. The release details that NCR will “own and operate” the bank’s ATM services on and off the premises. This help the Bank of New Zealand to improve the digital banking and customer services with NCR’s technology. President and General Manager of NCR Banking, Frank Hauck commented on the improvement and long-term relationship with BNZ.…

The Ghana Hub Network (GHN), a technology and innovation hub that serves as an umbrella body for all businesses, has rolled out a national database development hackathon challenge for 20 developers in the country. It is to help build a database system for entrepreneurs and innovators across the country. The project is the first phase of a digitization and capacity strengthening programme for businesses. Participants from five zones across the 16 regions were to develop a platform which will control the details of start-up businesses and entrepreneurs across the West African sub-region. Data According to the programme’s Manager of GHN,…

Telecommunication firm, Vodafone Plc, has agreed to sell its Ghana’s business to Telecel Group. This is part of the British telecommunications giant to refocus on key markets. According to Bloomberg, the London-listed company will sell its majority stake in Vodafone Ghana to Africa-focused Telecel, subject to certain conditions. Vodafone entered Ghana in 2008 when it acquired 70% stake of Ghana Telecommunications Company for $900 million. Telecel plans to help fund the acquisition by later offloading the Ghana business’s mobile towers, according to people familiar with the matter, who asked not to be identified discussing confidential information. A representative for Telecel confirmed the talks…

In order to support the Service Infrastructure pillar of the National Digital Economy Policy and Strategy (NDEPS), Nigeria’s National Information Technology Development Agency (NITDA) is partnering with the Federal Ministry of Industry, Trade and Investment (FMITI) on the development of an e-commerce policy and strategy for the country. Kashifu Inuwa Agency’s Director General NITDA, represented by Salisu Kaka, Acting Director, Digital Economy Development department (DED), made this known during a roundtable meeting of the National Advisory Council on e-Commerce and Digital Economy (NACEDE) held at the Digital Economy Complex Mbora, Abuja. The meeting was aimed at assessing the status of…

Mr. Eli Hini, the Chief Executive Officer (CEO) of Mobile Money Limited, a subsidiary of MTN Ghana has commended the media for its continuous support. He said, “the media is very important to us” and remained as strong partner because of its crucial role in their operations by educating and informing the public about their services, thus the commendation. Mr. Hini was speaking at a Volta Regional Media and Stakeholders’ Forum organised by the MTN Ghana in Ho on the theme: “Building Platforms to Deliver a Brighter Future for Ghana and Beyond.” The engagement aimed at equipping the personnel of…

Egyptian curated fashion e-commerce platform The Fashion Kingdom (TFK) has raised a US$2.6 million seed round to accelerate its growth, hire more talent and invest in its technology. A marketplace offering access to fashion, beauty and home accessories, with 360 value proposition for brands, TFK was launched in July 2020 by co-founders Fadi Antaki, Marianne Simaika and Karim Abd El Kader. The startup’s goal is to help local fashion entrepreneurs and brand owners sell online, serving customers through an affordable and convenient shopping experience and creating meaningful careers for young and emerging talents. TFK is currently helping more than 200…

Global Ventures, Oui Capital, has announced the launch of its $30 million fund called the Oui Capital Mentors Fund II. The fund has a mix of local and international investors, including Vibe Capital, D Global Ventures, One Way Ventures, Ground Squirrel Ventures, Seth Levine, Ryan McIntyre, and Tokunboh Ismael. Tosin Eniolorunda, CEO of TeamApt and Gbenga Oyebode, an investor in TeamApt, complete the list. In 2018, Olu Oyinsan, Managing Partner of Oui Capital, left his job as Vice President of Investments at Ingressive Capital to start a VC firm with Francesco Andreoli. The following year, Oui Capital officially launched with…

Towards expanding its operation, Umba, a digital banking outfit operating in Nigeria, has acquired a 66.6% stake in Kenyan microfinance bank Daraja. Founded by Irishmen Kiernan Kennedy and Barry O’Mahony and headquartered in San Francisco, Umba offers free accounts, interbank transfers, P2P transfers, bill payments and loans. The firm first began operating in Nigeria but in April raised $15 million from, among others, Monzo co-founder Tom Blomfield to expand to Ghana, Kenya and Egypt. Already operating a non-deposit taking credit business in Kenya, the outfit has now taken a controlling interest in Daraja, which lends to micro and small enterprises.…

By Sandy Rheeder Fintechs that are innovating, operating, and growing throughout Africa have moved on from the broad academic concept of financial inclusion to the practical onboarding and walking hand in hand with underserved people along a financial journey. The first port of call is understanding that serving the underserved is not just about technology. It’s about the human element of dealing with people that are not part of the mainstream financial system; it’s about reaching them and engaging with them where they are and when they need you. Repeat use of a product or service happens when you create…

Ecobank Nigeria has extended its remittance services to its business account holders. Under the new plan, business customers will be able to instantly receive funds sent through Ecobank Rapidtransfer or any of the Bank’s remittance partners from other businesses anywhere in the world directly into their bank accounts. Similarly, they will be able to instantly receive remittances from their customers and transfer money to other business customers’ bank accounts. The launch of the service follows the implementation of a seamless account opening procedure for customers who do not have domiciliary accounts with Ecobank Nigeria so that they can leverage the…