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Africa & Global Payments Innovation Jury Meet in Nigeria at Interswitch Connect




The Africa Payments Innovation Jury revealed that‎ businesses on the Continent are attempting to bridge the gap between the banked and the underbanked population, driving payments innovation across the continent; despite the daunting challenge of regulation and funding.

This was popular view of speakers at the inaugural launch of payment/tech conference, tagged Interswitch Connect held in Lagos.

The Global Payments Innovation Jury is the recognised body looking into payments innovation at the global level.
This year, for the first time, a dedicated Africa Payments Innovation Jury, consisting of 25 industry leaders from 14 markets, was formed to contribute to a research report into African payments and fintech innovation trends.
They looked at 2017 global snapshot of payment innovations and Asian countries were rated as the home to most payments innovation over the next two years, a position that it has held since the inaugural 2008 Jury.
Europe was ranked second, followed by Africa, North America and Latin America.
When it came to deciding where to build a new payments business 81% of the Africa Jury voted for the continent as the ideal location.
“The Africa Jury demonstrated the clear view that, despite the challenges associated in creating and running a payments business on the continent, the potential for growth is high and is likely to only increase.
“Indeed, to be rated ahead of North America is a striking result given the African fintech and payments landscape,” said John Chaplin, Chairman of the Africa Payments Innovation Jury.
The Africa Jury also showed a preference for investment in consumer focused businesses, with 58% choosing (Business to Consumer) B2C businesses over (Business to Business) B2B.
This is in marked contrast to the global position where there is a 55% rating in favour of B2B, which in regions such as Europe rises to 75%.
“Despite the cost and difficulty involved in building large customer bases, the Africa Jury prefers B2C largely because of the growth potential from bringing the currently underbanked population into the electronic payment world,”
“B2B will become more important over time but many African businesses are still in the informal sector which limits their potential for now,” said John Chaplin.

The Africa Jury addressed the Venture capital funding shortages and reported a significant lower level of funding availability than the Global Jury reported for the rest of the world.
The Africa Jury felt that initial investment in a business can sometimes be obtained from angel investors, but this source of capital is less developed than in most other regions.
The relative scarcity of funding continues for Series A rounds when the lack of a well-structured and funded venture capital sector in many markets presents a major challenge for entrepreneurs.
However, for companies that can establish sustained growth and profitability there is considerable competition between private equity firms to provide investment.
“The lack of early stage funding can choke off many potentially promising business ventures. In order for a vibrant payments and fintech industry to develop in Africa, investors must consider the potential returns of early stage businesses that solve real problems”, said John Chaplin.
A sizeable majority (57%) of the Africa Jury felt that regulatory action is detrimental to payments innovation.
This is substantially more pessimistic than the Global Jury which had a 39% negative score.
However, 35% of the Africa Jury conceded that regulators were assisting innovation.
”There is an opportunity for payments regulators in Africa to up their game especially in relation to innovators and investors, and in licensing non-bank payments companies.
“This could really help to deliver the policy objectives of the regulators,” said John Chaplin.

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Canon showcases cutting edge technology at CABSAT 2018




By peter oluka

Canon showcased its latest industry-leading innovations at CABSAT 2018, the leading broadcast, satellite and creative media event in the Middle East and Africa region.

The leader in imaging solutions also provided visitors with the opportunity to experience its full range of security solutions, Pro Video portfolio and professional imaging products first-hand at dedicated shooting areas and end to end workflow scenarios.

At the three-day event, Canon unveiled the latest additions to its Pro-Video segment with the launch of its 4K XF Series cameras, XF405 and XF400, which is in addition to the recent launch of the EOS C200, the 4K compact digital cinema camera from the esteemed Cinema EOS range. Under the XA series, XA-11 and XA-15 mark their entry into the region along with the low light network camera with remarkable performance, the ME20F-SHN.

The company also presented evolved and seamless workflow solutions that enable more efficient and cost-effective production for broadcasters and filmmakers.

Speaking about the event Roman Troedthandl, managing director – Canon Central and North Africa (CCNA) said, “Canon’s presence in CABSAT, which is considered to be one of the most important events in broadcast and media technology regionally and globally; is integral to showcasing our commitment towards playing a vital role in the cinema industry. Celebrating the incredible potential of filmmakers in Africa, Canon is set on clearing any hardships they may face enroute, through offering all the necessary technical and technological support they require, and this year we are going even further and extending our participation towards supporting young and aspiring filmmakers.”

“We also understand that there is an increasing integration of 4K into mainstream television dramas, documentaries and movies, and we are committed to continually evolving to meet the fluctuating needs of broadcasters and filmmakers with the latest additions to our innovative Cinema EOS series. As well as consistently strengthening and enhancing our partnerships with Tier 1 partners in markets like Nigeria, Morocco, West Africa and Egypt while hand in hand expanding our presence through an extended network of Tier 2 partners in Egypt, Nigeria and Morocco,” Troedthandl added.

Designed to benefit broadcasters and filmmakers alike, The EOS C200 is the first Cinema EOS camera to feature the revolutionary Cinema RAW light format which provides the same flexibility in colour grading as Cinema RAW in a smaller file size, enabling filmmakers to record internally to a CFast 2.0™ card.

Canon Team at the conference

Delivering incredible low-light performance and perfect for critical surveillance operations, the ME20F-SHN produces full colour and Full HD resolution images in limited light scenarios and packs in network capability and built-in video analytics into a lightweight and compact body. These innovations also support the convenience of seamless network integration with the ability to fit directly into existing workflows.

In addition to showcasing its full range of 4K, Full HD and HDR products, Canon also provided broadcast and cinematography professionals with a variety of end to end workflow scenarios including shooting experiences as well as review and editing processes. The ecosystem of videography was brought to life via a touch and try product section, dedicated shooting areas of Maasai Mara and a bakery area, a security zone and a chroma key area. Canon had also teamed up with the global leader in manual and robotic camera support systems, Vinten, to demonstrate the versatility of the ME200 and C200.

“Canon is set on becoming even more than a technical partner to customers in the African continent. We understand that the region is flourishing and becoming one of the rapidly growing media markets in the world; thus, we will continue expanding our footprint in the market via encouraging young talents and catering to their technical as well as support-related needs.” Said Somesh Adukia, sales & marketing director B2C – Canon Central and North Africa (CCNA). “We are very excited to be hosting a specific panel discussion during CABSAT that tackles the future of the filmmaking industry in Africa, as well as reviving our support to the youth by engaging them in a Canon Filmmaking Challenge; one of many initiatives which have been set to further support the filmmaking ecosystem in the region” He added.

Bringing the event to a successful closure, Canon awarded the shortlisted filmmakers for their efforts in bringing their stories to life. The announcement was made during the panel discussion which covered the future of the filmmaking industry in Africa alongside 3 prominent actors Injy El Mokkadem from Egypt, Omar Lotfi from Morocco and TY Bello from Nigeria.

Where the first-place winner, (Youness Hamiddine) from Morocco was awarded a (5D Mark 4) Canon camera. The second place winner (May El Hossamy) from Egypt and the third place winner (Ifeoma Nkiruka Chukwuogo) from Nigeria have both also received a (6D Mark 2) Canon camera.

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TrillzApp Unveiled, Assists Event Managers Harness Feedback



By peter oluka

A robust and smart mobile app that uses location technology to give users notification of events happening in their location and based on interests, TrillzApp has been launched.

In addition to aiding users to book events seamlessly online, TrillzApp which was developed by five students, was designed to help users keep tabs on happenings in their area while helping them express their thoughts about events through ratings, comments and chats.

Chatting with Nigeria CommunicationsWeek, Stanley Ezeh, TrillzApp’s team lead, Critical Analyst, Business co-founder, said, “TrillzApp solves a number of needs, namely: keeping track of events and opportunities in particular areas; connect with people and places in a particular and seamless Ticket sales and event management. Furthermore, it helps event organizers get feedback from attendees.”

He said that the app taps from the power of Google Maps; gigantic map software that has a number of applications and has been designed to be used in various apps that require map services. “TrillzApp only uses some features of the Google maps to further assist users in getting directions to venues of events and happenings among others. Google maps has no local content for events; neither does it provide an avenue for users to interact with one another. Therefore, we are in no form of competition with Google”, Ezeh added.

The Team Lead who explained that TrillzApp beta version was launched in November 2017; in December of the same year, the app was out of Beta.

However, the only available version of the app is Android version. “iOS version will be released soon”, he told Nigeria CommunicationsWeek, but without stating that “Sponsoring the TrillzApp project hasn’t been easy especially as we are students. Initially, being part of the Roar Nigeria Incubation Hub was supposed to be a plus to us since we were promised funding, support, training and mentorship, but due to unknown logistic and administrative reasons, these promises have barely been fulfilled and the funds have not been disbursed to us.

“Because we were determined and passionate to make an impact in our society by helping young people discover opportunities, events and happenings in different locations, we devised various strategies to help us raise funds on our own.

“We often had to skip meals and deprive ourselves of certain luxury and privileges to be able to squeeze out money from our meagre monthly allowances from our parents. Sometimes, we had to do some extra jobs for friends to get funds to complement funds raised from family”.

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Queen Elizabeth (II) Honours Interswitch Chairman, Ken Olisa with Knighthood



Sir Ken Olisa the recently appointed Chairman of Interswitch has been honoured with knighthood by Queen Elizabeth II.


The Nigerian-born British Businessman and Philanthropist has been recognized, amongst other notable individuals, in Queen Elizabeth (II)’s New Year Honours.


Sir Olisa is a British businessman with a career in technology that commenced at IBM and spans well over 40 years.


He founded and led the technology merchant bank Interregnum and is also the founder and chairman of Restoration Partners, an independent boutique technology merchant bank, reputed as architects of the Virtual Technology Cluster model.


He is currently a Director of Thomson Reuters.


In 2015, he became the first black Lord-Lieutenant of Greater London having been appointed by Her Majesty the Queen.


By this development, Olisa, the first British-born black man to serve as a Director of a FTSE-100 business is now officially honoured with a Knighthood for services to Business and Philanthropy in the United Kingdom.


An advocate of social inclusion, he is Chair of the Shaw Trust, supporting the disabled and chronically unemployed to find work; founding Chair of the Powerlist Foundation, supporting future leaders from Black and Minority Ethnic (BME) and disadvantaged backgrounds; a former Governor of the Peabody Trust; and a former Non-Executive Director of the West Lambeth NHS Trust.


Mitchell Elegbe, Group CEO of Interswitch, Commenting on the development, said that “Sir Ken has distinguished himself in professional and social spheres with a remarkable pedigree of service in the public domain.


“A leading light and embodiment of the maxim, “Do well, and do good”, He has not only charted an impressive course across the business terrain, but has also done notable social good; actively championing, and investing in many charities and non-profit organizations which work to mitigate the disadvantages faced by so many in his society.


“We are extremely proud of this most recent recognition and knighthood by The Queen for his services, and it is a great way to start the new year, both for Sir Ken and for Interswitch.”


Interswitch founded in 2002, is active across the entire payments value chain and currently processes over 4 billion unique transactions yearly, with a value of over USD 38 billion.


A recognized leader in the payments space in Nigeria, the company has sustained impressive business growth in recent years, garnering acclaim from Deloitte and others as one of Africa’s fastest growing technology business.

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