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COVID-19: DG NITDA Urges Financial Institutions to Improve Lending Access to SMEs
Mallam Kashifu Inuwa Abdullahi, director general, National Information Technology Development Agency, NITDA, has called on financial institutions in the country to increase lending access to Small and Medium Enterprises especially Startups in the Financial Technology (FinTech) ecosystem in order to promote financial inclusiveness in the country.
Mallam Abdullahi disclosed this in a Webinar organised by FinTech Association of Nigeria with the theme: “COVID-19: Enabling Speedy Business and Economic Recovery Through Regulations.”
He stated that traditional banks’ lending process have long been a barrier to assessing finance for SMEs in Nigeria which has negatively impacting the operations of the SMEs, adding that the banks need to come up with innovative ideas to assist vulnerable SMEs in the era of COVID-19 that is plaguing the world.
He said, “the COVID-19 pandemic has disproportionately impacted SMEs around the world, Nigeria inclusive.
“Traditional bank lending process has long been a barrier to accessing finance for SMEs in Nigeria.”
He, however, informed that government is providing different types of interventions and palliatives but Financial Technology is not being employed optimally for disbursement.
Adding that, “our interventions are to help lead the tech startups from crisis to recovery as well as support them to navigate today’s challenging business landscape.”
While reiterating the promise of president MuhammaduBuhari’s administration to lift 100 million Nigeria out of poverty in 10 years, Mallam Abdullahi expressed optimism that government would support investment in startups to create jobs and future prosperity for all.
He explained that, NITDA as an Information Technology regulator in the country with twin mandates to regulate and develop the sector, had designed initiatives meant to provide a secure base for startup ecosystem with inclusion of FinTech startups.
He said, immediately the government pronounced the lockdown, NITDA constituted a 10-man committee named Tech4Covid with objectives to identify innovative solutions to address the pandemic; provide enabling policies and incentives to cushion the impact of the pandemic; and build massive digital skills to reskill the region to leverage technology in different sectors.
On funding for the innovative ideas of the startups, the NITDA DG recalled that the Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami has directed all parastatals under the supervision of the ministry to set up an Innovation Research Fund for the startups, and NITDA is equally working with Bank of Industry, BOI, to give consideration to I T startups in accessing funding.
The DG further stated that the Agency is also supporting the IT hubs in the country by implementing the recommendations submitted by Tech4Covid committee on hubs’ support during and after the pandemic and had also developed innovation porter that would serve as database for innovation and entrepreneurship ecosystem.
He listed some of the policies the government has put in place to assist the startups to include the National Outsourcing Strategic policy, Nigeria Data Protection Regulation, Reviewing of Framework and Guideline for the Use of Digital Platform by Federal Public Institutions, and the National Cyber Security Policy.
Another Speaker at the webinar and Chairman, Africa FinTech Network, Mr. Segun Aina, described the agency as a great pillar of support which has been reliable in providing fund for FinTech in Nigeria.
He said, “although most of the funding come from outside the country but regulatory agencies like NITDA have been very helpful in assisting the FinTech industry.
He said that the Association is embarking on advocacy and support for the startups in 32 African countries and assisting them to access funding from organisation like African Development Bank.
Another speaker, Mr. Sopnendu Moharty, in his own remarks maintained that African needs to prioritize the new normal by leving that “COVID-19 has given us opportunity to rethink.
He said, for economy to survive the pandemic, there is need for people to leverage on IT.
“We need to digitise everything and you can’t argue with the fact that if you don’t digitise you will die,” he concluded.
United States (US) House of Representatives has banned WhatsApp from all official devices as a result of data privacy and security concerns.
Harry Coker, acting national cyber security (ONCD) Director confirmed this via a statement issued on Monday, June 23 stating that WhatsApp’s high risk classification is attributed to the messaging app’s ambiguous data protection policies, inadequate encryption for stored data, and other potential security vulnerabilities.
He stated that staff have since been advised to utilize more secure communication platforms, with recommended alternatives including Microsoft Teams, Apple’s iMessage and FaceTime, Signal, and Amazon’s Wickr.
However, Nick Clegg, president of Global Affairs for Meta, WhatsApp’s parent company, has strongly opposed the ban.
He said, “We disagree with this decision in the strongest possible terms, whatsApp provides a higher level of security than the other approved apps.”
This ban on WhatsApp is not an isolated incident, it follows previous restrictions on other applications, such as TikTok, which was removed from government devices in 2022.
The decision also comes just months after WhatsApp itself confirmed that Israeli spyware firm Paragon Solutions had targeted some of its users, including journalists and civil society figures.
MTN Foundation has received accolades from UN Women, the United Nations entity dedicated to gender equality and the empowerment of women.
The recognition, presented during a profile courtesy visit by UN Women representatives to MTN Nigeria’s Head Office in Ikoyi, Lagos, acknowledged the Organisation’s profound contributions to advancing women’s empowerment across the nation.
The UN Women delegation, led by Beatrice Eyong, UN Women Country Representative to Nigeria, commended MTN and its Foundation for their unwavering commitment to fostering an inclusive society where women thrive.
During the presentation, Beatrice Eyong, UN Women Country Representative to Nigeria, expressed profound admiration for MTN’s efforts. “I want to congratulate MTN for all that they have been doing,” Eyong stated, her voice resonating with appreciation. “And I want to congratulate MTN Foundation specifically, because they are leaving things better than they met them especially with their Mother and Child Initiatives.” Her remarks highlighted MTN’s focused impact, suggesting a significant improvement in the landscape of women’s empowerment due to the company’s interventions.
Odunayo Sanya, Executive Director of the MTN Foundation, received the award and further elaborated on the company’s broader commitment to societal upliftment through women’s empowerment. ” Our Y’ellopreneur program targeted at Female entrepreneurs is about creating access for our Female Entrepreneurs – access to skills, capital and markets. Our commitment is to contribute to the success of women – led businesses in Nigeria.
This focus on economic empowerment through skills development directly benefits women seeking to improve their livelihoods. This recognition comes as MTN Nigeria continues to champion various programmes aimed at uplifting women, from promoting gender diversity within its corporate structure to supporting women-led businesses and initiatives.
The company’s alignment with global best practices, including its recent signing on to the United Nations Women Empowerment Principles (WEPs), further solidifies its position as a leader in corporate social responsibility and gender equality advocacy.
The award serves as a testament to MTN Nigeria’s strategic and impactful investments in creating a more equitable future for Nigerian women.
Google today announced the selection of 15 promising tech startups for its Google for Startups Accelerator: Africa Class 9 program. These innovative startups, hailing from Ghana, Ethiopia, Kenya, Nigeria, Rwanda, Senegal, and South Africa, are leveraging artificial intelligence (AI) to address significant challenges across diverse sectors, including fintech, agritech, healthtech, and professional services.
In an era where startups are at the forefront of solving critical challenges across Africa, these innovators often face significant hurdles to scale their operations, particularly in securing essential support, mentorship, and funding. Programs like the Google for Startups Accelerator: Africa play a crucial role in providing these opportunities, enabling tech founders and innovators to amplify their impact. By bringing together Google’s extensive resources, including cutting-edge AI technologies and a global network of experts, the program aims to equip these startups to not only thrive but also lead in addressing both local and global challenges in this AI era.
The selection follows a highly competitive application process that began in April 2025 , drawing nearly 1,500 applications from across the continent. This cohort underscores Google’s deep commitment to fostering Africa’s vibrant tech ecosystem and supporting startups in their growth journey.
“African startups are at the forefront of solving critical challenges across the continent, and their work with AI is truly transformative,” said Folarin Aiyegbusi, Head of Startup Ecosystem, Africa at Google. “This program reflects our belief that AI can be transformative when shaped by those who understand the context deeply. We are incredibly excited to support these founders who are building for impact and helping to shape an inclusive AI ecosystem across Africa.”
Over the next three months, the selected startups will participate in a hybrid accelerator program (June 23rd to August 22nd, 2025). Participants will receive dedicated technical mentorship from experienced Google engineers and industry experts , up to $350,000 in Google Cloud credits , and strategic support in AI implementation, product leadership, and business growth. They will also gain access to a global network of investors, partners, and collaborators, amplifying their reach and impact.
Since its inception in 2018, the Google for Startups Accelerator Africa program has supported 153 startups from 17 African countries. Collectively, these alumni have raised over $300 million in funding and created more than 3,500 jobs. Google has directly contributed $5 million through a combination of equity-free funding and product credits to support these founders.
The Google for Startups Accelerator: Africa Class 9 cohort includes:
AFRIKABAL (Rwanda): A blockchain and AI-powered platform helping farmers, buyers, and logistics firms trade crops securely and transparently.
Apexloads (Kenya): A logistics SaaS platform helping African freight brokers, forwarders, and transporters move cargo faster with verified partners.
E-doc Online (Nigeria): Simplifies compliance and credit checks by analyzing real-time banking data, enabling faster onboarding and smarter lending decisions.
GoNomad (Nigeria): Enables businesses to start and run global entities, and solopreneurs to professionally invoice and get paid globally like a local.
Midddleman (Nigeria): An intelligent sourcing and payment platform helping African businesses import and pay for goods from China faster, safer, and cheaper.
Myltura (Nigeria): An AI-powered digital health platform enabling remote care, test access, and seamless health data management in Africa.
Pastel (Nigeria): Offers Enterprise AI solutions, inc. AI based fraud detection and anti-money laundering solutions to financial institutions in Africa.
Rapid Human AI (South Africa): An end-to-end AI design-thinking platform that turns ideas into code in days, cutting development time by 80%.
Regulon (Ghana): An AI-powered compliance and onboarding platform designed to simplify regulatory processes for businesses across Africa and the EMEA region.
Scandium (Nigeria): An AI Quality Assurance suite that helps teams ship bug-free software faster with end-to-end test automation and test ops tooling.
Shamba Records (Kenya): An AI-powered platform that empowers 50,000+ African farmers with smart credit, market access, and climate-resilient, data-driven agriculture.
Smartel Agri Tech (Rwanda): Helps smallholder farmers in the Global South get ahead of crop pests and diseases early using AI-powered, solar-driven devices and SMS alerts.
TOLBI (Senegal): Leverages AI and satellite imagery to empower sustainable agriculture across Africa, providing precise crop yield forecasts.
YeneHealth (Ethiopia): An AI-driven digital health web, and mobile app streamlining access to affordable, reliable, quality medications & health care services.
Zerone Analytiqs (Ghana): A transformative two-pronged solution to the data scarcity in Africa, We are revolutionizing how data is sourced, analyzed, and utilized for decisions.
For further information and updates, visit the Google Africa Blog or follow @GoogleAfrica on social media.
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