E-Business
Okra Joins Cloud Hosting Race to Challenge AWS, Azure
Okra, Nigerian fintech startu, has launched a new cloud infrastructure service, making it the latest of several startups in the country that aim to provide a local alternative to cloud giants like Amazon Web Services and Microsoft Azure.
According to a post on LinkedIn, Okra’s “Nebula” is an infrastructure-as-a-service (IaaS) offering built on Tier 3 and Tier 4 data centres.
Okra said the service offers low latency and reliability “on par with global players like AWS and Azure” with less than two hours downtime a year.
Okra also said Nebula is specifically designed to comply with local data residency laws.
However, the biggest selling point is that Nebula customers can pay in naira or other local currencies “for predictable and more affordable rates.”
That’s a key provision for companies in Nigeria (as well as other countries in Africa) where currency devaluation and fluctuating foreign currency exchange rates often have a serious impact on the bottom line. Foreign cloud providers typically charge only in US dollars.
Fara Ashiru,CEO, Okra, said in the LinkedIn post that Nebula presents a viable and cost-effective alternative to AWS and Azure, who currently dominate Nigeria’s cloud market.
“For too long, Africa has leaned on imported solutions, paying premiums for software and services – but as we say, ‘Yes, there is rice at home!’,” she said. “And now, there’s a cloud built here, for us, and it’s just as good – if not better.”
Ashiru added that Okra’s own infrastructure is already using Nebula. “The first round of access is already with our incredible partners. The next round opens soon.”
Okra first announced plans for Nebula in July after securing US$16.5 million in funding and the backing of VC firm TLcom.
Okra got its start offering open APIs for banks and financial service providers to access customer data, but decided to shift its focus to cloud infrastructure as the open-banking market was too small and competitive, according to African investment firm Daba.
Okra also faces healthy competition in Nigeria’s cloud market from startups like Nobus, Galaxy and Layer3, all of whom are also positioning themselves as an alternative to AWS and Azure and offering payment in local currencies.
E-Business
US Supreme Court Upholds Law Banning TikTok
The United States Supreme Court has upheld a law seeking to ban TikTok in the United States.
The court ruled that the law does not infringe upon free speech rights, citing the US government’s legitimate national security concerns about the Chinese ownership of the app.
Last week, the Supreme Court listened to the arguments from ByteDance, TikTok’s parent company, claiming the law violated free speech.
“There is no doubt that TikTok provides a unique platform for expression, engagement, and community to over 170 million Americans,” the justices stated.
With this decision, the ban set for Sunday remains in place, despite calls from lawmakers and officials across the political spectrum for a delay.
Last year, Congress passed a law requiring ByteDance to sell TikTok or shut it down in the US by January 19, reflecting widespread concerns in Washington that the app could be exploited by China for espionage or propaganda.
On Friday, White House officials informed the media that the ban would not be enforced, leaving the final decision to President-elect Donald Trump, who assumes office the next day.
In December 2024, TikTok asked the US Supreme Court to temporarily block a law that would force its Chinese owner to sell the popular video-sharing platform or shut it down by January 19.
The appeal came the same day TikTok, Shou Zi Chew, CEO, met with US President-elect Donald Trump.
E-Business
FG Says NINs will Facilitate Cash Transfers to 18.1m People
Federal government has plans to expand the national social register to 18.1 million names and to reach at least 70 million poor households across the country by the end of this year, according to Prof Nentawe Goshwe Yilwatda, minister, Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD).
Federal government has been distributing cash assistance to poor citizens through a program that requires verification using the National Identification Number (NIN).
The rate of poverty in the country is alarming, the minister said in an interview with Arise News, reason why the federal government plans to extend the humanitarian outreach program to target more homes. Each household receives the sum of N75,000 ($45).
Giving update on the payments, the minister said the first tranche of the conditional cash transfers were paid to five million households between October and December 2024, while the second and third tranches were paid to 2.8 million households.
“The president has directed, based on CBN’s new regulations, that before any payment is made to an individual or household, they must have a digital identity we can trace. That is the NIN number,” the Yilwatda told Arise News.
The cash transfer enabled by digital ID was launched in 2023, and last year, the federal government said around 25 million Nigerians had already benefitted from the scheme.
E-Business
NIMC Grants NCoS Licence to Register Inmates for NIN
National Identity Management Commission (NIMC) has granted licence for the Nigerian Correctional Service, (NCoS) to register inmates in the over 252 custodial centres across the country for National Identity Numbers, (NIN).
The approval followed the request made by Sylvester Nwakuche, acting controller general of the NCoS, who paid a visit to Engr Abisoye Coker-Odusote, director general/chief executive Officer of NIMC, in her office.
The acting controller-general, said the licence to carry out registration of inmates for NIN would eliminate exclusion of inmates from the country’s National Development plans, ensure their safety and security and facilitate their smooth recapture in times of jailbreaks.
The NCoS boss said the visit to the headquarters of NIMC was in search of collaboration that would enable the Service carry out its mandate seamlessly following on going reforms of the Correctional Service system.
According to Nwakuche, there are lots of socio-economic developments within the Correctional Service systems which had led to a number of inmates obtaining University degrees, Masters Degrees and Doctor of Philosophy (PhD) in various fields.
He said such inmates should not be excluded from the national development plans of the country as they should be integrated into the society to become useful for their families and the country.
Nwakuche said inside the Correctional centres are those awaiting trials whose innocence and otherwise has to be decided by the Courts, but argued that in times of National planning, census and other critical national development issues, they should not be disallowed from participating.
Coker-Odusote who granted the licence said NIN has become critical and essential to the country’s national development plans, stressing that NIMC has gone far with the private sector, especially the banks and the Central Bank of Nigeria (CBN) as all banks accounts are now linked with the NIN.
Coker-Odusote said the Eight points Agenda of President Bola Tinubu are also anchored on the Country’s digital identity or National identity Number, stressing that for instance NIN was tied to students loans to eradicate duplicity and prevent ghost beneficiaries.
Coker-Odusote expressed delight in the partnership with the NCoS, saying that the Commission had already entered into partnership with the Nigeria Immigration Service, NIS and other agencies in order to facilitate the smooth delivery of their constitutional mandates.
She commended Dr Olubunmi Tunji-Ojo, minister of Interior, for his dynamic leadership and role in ensuring the delivery of dividends of democracy to Nigeria through various reforms.
- E-Financial3 days ago
eNaira Makes Appreciable Impact with 57% Rise in Value
- Telecom3 days ago
Abia Set to Regulate Right of Way for Telecom Cables
- News3 days ago
Firms Seek Specialized Expertise to Combat AI Cyber Threats – Study Reveals
- News2 days ago
Mastercard Unveils First Office in Ghana
- E-Financial2 days ago
Popoola, NGX Group CEO Advocates Pan-African Market
- E-Business1 day ago
FG Says NINs will Facilitate Cash Transfers to 18.1m People
- News1 day ago
EFCC to Arraign Otudeko, Others on Monday over Alleged N12.3Bn Fraud
- Telecom1 day ago
NIGCOMSAT, Eutelsat Partner to Deepen Communication Connectivity via LEO Satellite