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AfriTECH 4.0: QNET’s Biram Fall Advocates for Financial Inclusion in Africa

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Mr. Biram Fall, the Regional General Manager, QNET Sub-Saharan Africa, has said that with over 350 million unbanked adults, there is a significant potential of financial inclusion and digital solutions for Africa, and a vast opportunity to expand access to financial security, event through electronic commerce (eCommerce).

Mr. Biram Fall, the Regional General Manager, QNET Sub-Saharan Africa

Speaking as a lead presenter at the recent Africa Tech Alliance Forum (AfriTECH 4.0) held in Lagos, Fall stated that financial inclusion transforms lives by providing essential financial tools like savings accounts, credit, and insurance, which foster economic independence.

He referenced the International Monetary Fund (IMF) which highlights the role of financial services in strengthening economic resilience and reducing inequality, making them crucial for African socio-economic progress.

Speaking on the theme, “Harnessing Fintech Solutions for Financial Inclusion & eCommerce Growth,” Fall highlighted Africa’s opportunity to empower the 350 million unbanked adults by providing access to essential financial services.

“The demand for financial inclusion aligns with a projected $75 billion e-commerce market in Africa by 2025, driven by rising internet access and smartphone adoption.

“However, limited banking infrastructure and high cash dependency hinder digital engagement,” he said.

Fall who made reference to the United Nations Conference on Trade and Development (UNCTAD), noted that digital payments can unlock significant revenue for small businesses and expand e-commerce by making digital platforms more accessible and trusted.

“Digital payment solutions like mobile wallets simplify transactions and build trust in digital platforms.

“The African Development Bank recognizes that increased accessibility of financial products boosts consumer confidence in digital payments and enhances participation in e-commerce,” Fall said.

He disclosed that QNET’s initiatives, such as its “Fit Green” financial literacy programme, have trained over 1,500 young Nigerians, promoting financial self-sufficiency and entrepreneurship through an e-commerce-driven direct-selling model active in over 100 countries.

“Our e-commerce driven direct-selling model provides income-generating opportunities in over 100 countries, promoting entrepreneurship and self-sufficiency in low-income regions. True progress requires collaboration.

The QNET regional manager emphasized the need for cross-sector partnerships to bridge Africa’s infrastructure gaps, expand digital financial services, and build an inclusive financial landscape.

QNET’s mission, according to Fall, is to use technology and partnerships to make financial inclusion and e-commerce key pillars of progress across Africa, empowering individuals and fostering economic growth for underserved populations.


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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

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MTN Mulls Establishment of Fintech Firm in Nigeria, Others

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MTN Uganda is seeking input from stakeholders on a plan to structurally separate its mobile money service, MoMo, from its core telecoms business.

According to the company, the proposed change will be discussed at the upcoming extraordinary general meeting on July 2.

If approved, the telco’s fintech business will be run by a new company controlled by MTN Group Fintech Holdings B.V. and a trust benefiting minority shareholders following a merger.

Additionally, the restructuring also aligns with MTN Group’s ambition 2025 strategy which aims to unlock value, attract new investors, and strengthen regulatory compliance by creating standalone fintech entities in Uganda, Ghana, and Nigeria.

The company’s fintech division has over 13 million customers, with an 18.4% revenue increase in the first quarter of 2025, driven by 19.0% growth in mobile money services, 19.8% growth in transaction volumes, and a 31.4% increase in transaction value.

Reports say the decision is part of the telco’s compliance with the National Payment Systems Act 2020, which mandates mobile money businesses to operate as standalone entities, and to align with MTN Group’s regional fintech strategy.

MTN Uganda, which is led by CEO Sylvia Mulinge, highlighted that the implementation of the proposed transaction will be subjected to a number of conditions and regulatory procedures.

“The implementation of the proposed transaction shall be subject to a number of conditions, including the company and MTN MoMo receiving all required regulatory approvals and no-objections and complying with any regulatory conditions,” said MTN Uganda in notice.

 


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Netflix Expands European Presence with €1 Billion Investment in Spain

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Netflix has announced plans to invest more than €1 billion in Spanish film and television productions over the next four years, reinforcing its commitment to Spain as a key creative hub in Europe.

The announcement was made by co-chief executive Ted Sarandos at an event held at Netflix’s production studios near Madrid, celebrating the company’s 10-year presence in the country.

Sarandos emphasized that the investment would contribute significantly to Spain’s economy, create jobs, and enable the streaming platform to produce more local content. He was joined by Spanish Prime Minister Pedro Sánchez in unveiling the initiative.

Netflix first established its international production studios in Madrid in 2019, following the success of the Spanish-language hit series Money Heist.

Since then, its 22,000-square-meter facility has become one of Netflix’s major production centers within the European Union.

The company currently supports over 20,000 jobs in Spain, highlighting the nation’s growing influence in global entertainment.

The investment reflects Netflix’s ongoing strategy to expand its presence in European markets through original content and local talent.


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ngCERT Issues High Alert to Nigerians Using Android Phones

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Nigeria Computer Emergency Response Team (ngCERT) has raised alarms over a new wave of advanced cyberattacks targeting Android mobile phones through a malware campaign dubbed Tria Stealer.

ngCERT Issues High Alert to Nigerians Using Android Phones

The malicious software is designed to infiltrate Android devices, hijack messaging accounts, intercept One-Time Passwords (OTPs), to steal sensitive personal and financial data.

According to ngCERT, Tria Stealer spreads primarily through deceptive tactics, such as fake event invitations distributed via popular messaging platforms like WhatsApp and Telegram.

Unsuspecting users are enticed to download an infected  (APK) file, often disguised as a harmless system application, to evade detection.

Once installed, Tria Stealer requests extensive permissions, including access to SMS, call logs, and app notifications.

It immediately commences data harvesting activities, sending stolen information to a Command and Control (C2) server operated via Telegram bots.

This trojan spreads through fake links, usually disguised as wedding or event invites, and tricks users into downloading malicious APK files

“Account takeover of messaging platforms. Impersonation of victim for fraudulent money transfer requests. Compromise of banking and financial applications. Identity theft and credential harvesting.”

In plain terms, if your phone is compromised, the consequences could be catastrophic.

Your financial apps are vulnerable, your reputation could be ruined by impersonation and even simple personal messages could be twisted into tools for scams.

Here’s what users should be doing now:

Don’t download apps outside the official Play Store.

Be suspicious of random invites or links, even from people you know.

Turn on 2FA for everything—banking, emails, social platforms.

Get a reputable antivirus and keep it updated.

If you run an organisation, you should already be taking this seriously.

ngCERT’s guidance says you should raise awareness, monitor mobile devices, and not let your team click on unverified links.

“Deploy network monitoring for suspicious outbound connections to known C2 domains,” it said, meaning, keep an eye on every digital door in and out.

This isn’t one of those cases where you wait to see if it affects you. By the time you realise it, it may already be too late.

 

 

 


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