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Product differentiation in FinTech: The key to growth in Africa, By Cynthia Alabi

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Africa’s FinTech industry is growing rapidly, with new companies launching almost daily. In this competitive landscape, standing out is no longer optional; it is survival. Differentiation means more than just coming up with innovative ideas; it’s about truly understanding your customers and offering solutions that genuinely improve their lives.

Customers don’t just want another digital wallet or payment app. They want financial solutions tailored to their lives, addressing genuine challenges and providing tangible value.

Across Africa, 57% of people are still unbanked, small businesses struggle to access credit, and cross-border transactions remain a headache. FinTech companies that effectively solve these fundamental issues by prioritising accessibility, security, and excellent user experiences will naturally stand out.

Beyond Innovation: Creating Real Value

Innovation alone won’t guarantee success. Today, Africa’s leading FinTech brands focus on simplifying financial processes, clearly addressing customers’ pain points, and building genuine relationships with their users.

Key Factors Driving FinTech Success

Personalised Solutions: Companies using data analytics and AI to deliver personalised financial experiences stand out. Tailored recommendations, user-friendly interfaces, and targeted communication significantly increase customer satisfaction and loyalty.

Seamless Access: Easy access through mobile apps, USSD codes, or agent networks helps FinTech companies reach more people, particularly in underserved communities.

Trust and Security: Building trust is crucial, especially with limited financial literacy. FinTech providers who invest in robust security, transparent policies, and reliable customer service earn long-term trust and loyalty.

Customer Experience: The Decisive Factor

Regardless of how advanced a FinTech product may be, users won’t stick around if they find it complicated or frustrating. Africa’s most successful FinTech companies focus on delivering seamless, enjoyable customer experiences. Easy onboarding, responsive support, and intuitive interactions build customer loyalty, turning users into brand ambassadors.

Key CX Differentiators:

Proactive Support: Immediate, multilingual customer support and effective chatbot technology help users feel valued and understood.

Frictionless Onboarding: Simple and quick registration directly encourages higher adoption rates.

Financial Education: Companies that provide financial education build trust and loyalty, especially among new FinTech users who appreciate guidance.

Big Opportunities in FinTech

Despite impressive growth, Africa’s FinTech sector still has notable gaps. Companies strategically addressing these areas have significant opportunities for further success:

Financial Inclusion: Offering accessible and affordable financial services to underserved communities is essential in bridging existing gaps.

SME Financing: Small businesses account for around 80% of African employment. FinTech solutions that offer quick and flexible financing options significantly boost economic growth.

Cross-Border Transactions: With Africa’s cross-border payments market projected to reach $25 billion by 2025, FinTech companies offering efficient and affordable solutions will lead the market.

Final Thoughts: Differentiation is the Future

Africa’s FinTech story is not simply about disrupting traditional banking. It’s about genuinely improving lives through thoughtful financial solutions. FinTech companies that successfully differentiate themselves by prioritising accessibility, trust, and outstanding customer experiences will shape the future of finance on the continent.

 

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

Big Brother Naija Season 10 to Premiere July 26 with Record ₦150m Grand Prize

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MultiChoice Nigeria, today announced the highly anticipated return of Africa’s biggest reality television show, Big Brother Naija, for its landmark 10th season. Set to premiere over two nights on Saturday, July 26 and Sunday, July 27, 2025, the new season promises 10 weeks of captivating drama, strategic gameplay, and unparalleled entertainment, culminating in the grand finale on Sunday, October 5, 2025.

Big Brother Naija Season 10

The audition process for this milestone season was meticulously designed to unearth the most engaging and dynamic personalities from across Nigeria. Audition registrations were held from May 3rd to May 7th, 2025, and saw an overwhelming response, followed by rigorous in-person auditions conducted in Lagos, Abuja, and Enugu from May 16th to May 18th, 2025.

Speaking on the upcoming season, Busola Tejumola, Executive Head, General Entertainment, MultiChoice Group, expressed her excitement: “Today we are not just announcing another season, we are celebrating a legacy.”

While the official theme for Season 10 will be unveiled on the premiere night, viewers can anticipate a fresh wave of excitement. The beloved Ebuka Obi-Uchendu is returning as host, guiding viewers through every twist and turn of the season. This 10th season also has the highest prize at stake – valued at a whopping N150million.

Fans can catch the premier live on July 26 and 27 exclusively on Africa Magic Showcase, Family and Showmax at 7 PM WAT. The Sunday live eviction shows will also air exclusively on these channels. The 24/7 live stream will be available on DStv Channel 198, GOtv Channel 49, and on Showmax.

“BBNaija has become more than just a television show; it is a living, breathing cultural force. It has given voice to a new generation of talent, creatives, entertainers, and the influencer community, and it has refined what homegrown entertainment can achieve when it is done at scale with intention and ambition,” added Tejumola.

With a two-night opening live show for Big Brother Naija Season 10, the season is poised to build upon the legacy of its predecessors, with fans expecting a more dynamic and entertaining experience. Still speaking on what the season holds Dr. Tejumola said “Today we are not just announcing another season, we are celebrating a legacy. From the very first time we introduced Big Brother Naija in 2017, we had an inkling that we had something special. What we couldn’t fully imagine then is how deeply the show would resonate not only in Nigeria but across Africa and in the global diaspora, where our stories continue to connect people to home.”

This milestone season for the iconic show is not without the usual lineup of sponsors. The gold sponsor for the 10th season of the show is Guinness Nigeria. Other sponsors include Smirnoff, Gordons, HFM, Pepsi, Aquafina, Supakomando, Tolaram Group, Bet King, Golden Penny Foods, Haier Thermocool, Checkers custard, and Innoson Motors, among others.

Viewers can catch all the live action and special broadcasts on DStv Channel 198, GOtv Channel 49, and Showmax. The live Sunday eviction shows will air exclusively on Africa Magic Showcase (DStv Channel 151, GOtv Channel 8), Africa Magic Family (DStv Channel 154, GOtv Channel 7) and on Showmax.

DStv and GOtv subscribers can also watch the show on the go using the DStv and GOtv Stream apps available on the Google Play Store and IOS App Store.


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GEFAS to Launch Innovation Hub in Anambra, Backs Soludo’s Digital Vision

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Geeks and Founders Alliance for Soludo (GEFAS), a tech-driven network of young professionals, is set to unveil its operational hub in Anambra State as part of efforts to deepen digital engagement and community outreach.

The launch, scheduled for July 17, 2025, will take place at 10 Uche Ekwunife Crescent, Iyiagu Estate, Awka, and is expected to serve as a nerve centre for collaboration, innovation and support for Governor Chukwuma Soludo’s smart city agenda.

Convener of GEFAS, Mr Fred Agbata, said the initiative reflects the group’s commitment to digital progress and grassroots mobilisation.

“This space reinforces our support for Governor Soludo’s vision of a smart, prosperous Anambra. It’s also a demonstration of what young innovators can achieve when united behind a bigger goal—the re-election of Governor Soludo,” he said.

Agbata added that the hub would provide a platform for tech enthusiasts, entrepreneurs and creatives to co-create solutions that address local challenges and promote inclusive development.

GEFAS has called on stakeholders, youth groups and members of the public to attend the launch and engage with the opportunities the space will offer.


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Over 5,600 Pupils to Benefit as ATC, ProFuturo Partner on Tech-Driven Learning

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American Tower Corporation (ATC) Nigeria and the ProFuturo Foundation have announced a strategic partnership aimed at transforming the educational sector through digital innovation and technology.

ATC

The programme, which is being implemented in conjunction with the Kukah Centre, is expected to benefit over 5,600 school children and 34 teachers across 11 schools in Kano, Kebbi and Taraba states.

The initiative is part of a broader global collaboration between American Tower and ProFuturo Foundation, targeting education gaps in seven African and Latin American countries.

Speaking at the signing ceremony, ATC Nigeria Chief Executive Officer, Mr Pieter Van Der Westhuizen, said the partnership was aligned with the company’s Digital Communities programme, which facilitates technology-driven learning, financial literacy for adults and access to healthcare services in underserved areas.

“At ATC Nigeria, we are proud to support this impactful collaboration, which brings digital tools directly into classrooms. This partnership is not just about equipment—it’s about giving children the future they deserve,” he said.

General Manager of ProFuturo Foundation, Ms Magdalena Brier, described the partnership as a crucial step towards bridging the digital divide and empowering vulnerable communities.

“This alliance reinforces our mission to transform lives by improving access to education and digital tools. Every child and teacher reached through this programme is a testament to what we can achieve together,” she said.

Each school will be equipped with a digital learning kit, which includes computers, tablets, routers, projectors and other essential components tailored to foster interactive learning—even in areas with limited connectivity.

The initiative seeks to strengthen innovative teaching practices and promote inclusive education through digital transformation, with active support from local authorities who were present at the official launch.


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