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E-Business

Azentio Software to Acquire Software Assets from Path Solutions

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Azentio Software (“Azentio”), a Singapore-headquartered software products business owned by funds advised by Apax, has signed a binding agreement to acquire certain software assets from Path Solutions (including the flagship products iMAL™, iSHRAQ™, Path Digital and Path Analytics), a leading provider of core banking software.

The transaction is contingent on obtaining relevant regulatory approvals and subject to customary closing conditions. This acquisition will strengthen Azentio’s banking portfolio by adding complimentary core banking software capabilities and a full spectrum of next generation solutions focused on Islamic banks and financial institutions.

Founded in 1992, Path Solutions offers a comprehensive range of core banking, retail banking, transaction banking, lending, treasury, digital banking and analytics solutions to banks and financial institutions through its flagship products iMAL™, iSHRAQ™, Path Digital and Path Analytics.

These software products help Islamic banks with digital transformation, deliver frictionless customer experience and drive long term sustainable growth. Path Solutions has an extensive footprint of over 100 Islamic banks and financial institutions in over 40 countries across the world.

Path Solutions’ team of domain and technical specialists will further augment Azentio’s capabilities as it aims to become the leading BFSI software company across the Asia Pacific (APAC), the Middle East and Africa (MEA).

Path Solutions will be supported by Azentio with increased investments in R&D and sales and customer service to deliver enhanced value to its customers.

Together with Azentio’s banking portfolio, comprising of lending, treasury, trade finance and anti-money laundering solutions, this acquisition will provide an end-to-end integrated solution to banks in the region.

Tony Kinnear, CEO, Azentio, commented: The acquisition has great significance for us, as it adds scale and depth to Azentio’s Islamic and core banking offerings and further reinforces our vision and resolve to be a regional leader in the BFSI software space across APAC, MEA and emerging markets.

iMAL™’s industry-leading digital Islamic core banking platform has been recognized by industry analysts for its broad and deep Islamic functionality, flexibility and operational performance.

I am extremely happy to welcome Mohammed Kateeb and the Path Solutions team, clients and partners to Azentio. We complement each other well, with both organizations focused on making a real difference to our clients.

Mohammed Kateeb, Group Chairman and CEO, Path Solutions, said: Path Solutions has been a leader in the segment providing feature-rich core banking software specialized for Islamic banks and financial institutions.

Today, the Islamic financial industry needs to urgently transform to meet its new digital objectives. Joining with Azentio now puts wind beneath our wings to accelerate our journey and deliver at a greater scale and speed to meet industry demands.

This will also provide our people and partners the opportunity for growth and to our clients the surety of technologically rich, innovative, high-impact products that will help them grow and provide best-in-class service to their end customers.


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E-Business

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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E-Business

AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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NIMC Plans to Register 95 Percent Nigerians by December

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Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote,, DG, NIMC

She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.

The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.

As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.


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