E-Business
CWG to Launch Entersekt Product Line into Nigerian Market
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CWG Plc, a pan-African provider of information and communications technology, has announced a strategic partnership with Entersekt, a globally recognized innovator in mobile-first fintech solutions.
In line with its commitment to continuously offer cutting-edge technology solutions, CWG will provide Entersekt’s full suite of mobile-centred security and payments enablement products to banks and other enterprises in Nigeria and beyond, either as a hosted solution or on-premises implementation.
Adewale Adeyipo, ED–VP Sales and Marketing at CWG said, “This is a major step towards ensuring that our customers can operate in conformity to relevant global practices and regulations by rolling out market-leading online and mobile experiences at competitive prices, without exposing their users to fraud.”
CWG’s rollout of Entersekt technology begins with Transakt, a sophisticated app-based mobile identity and authentication product.
Available as a software development kit or stand-alone mobile app, Transakt is used by tens of millions of smart phone users around the world to safely log into their online and mobile banking, verify payments and other sensitive transactions, and communicate privately with their service providers.
Users approve or reject in-app authentication prompts with one tap. [Watch: 50-second explainer video.]
About 90 percent of Nigeria’s 113 million strong mobile subscriber base use feature phones, which do not support apps, so user-initiated USSD banking and payments are extremely popular in the country.
To help banks secure this channel, CWG will offer Interakt, which counters man-in-the-middle and other fraudulent attacks through real-time SIM-swap checking and multi-factor transaction authentication. CWG will work in tandem with local mobile VAS aggregators to enable Interakt at mobile networks in the region.
Mobile payments are exploding but responding quickly to technological developments and unpredictable changes in consumer preferences can be risky – and expensive.
Entersekt’s product Connekt helps financial services providers launch new payment services within their existing banking apps quickly and seamlessly.
Depending on the country, it can enable all major QR-code–based mobile payment services; card issuer wallets for Mastercard, Visa, and American Express tap-to-pay purchases; a host of third-party wallets; web payments; and 3-D Secure 1.0 and 3-D Secure 2.0 protected card-not-present payments.
Connekt does the work of bridging all of these disparate technologies. “It’s a converged payments platform that chimes perfectly with the Central Bank of Nigeria’s cashless policy, which aims to reduce use of cash by significantly boosting mobile payments penetration,” explained Adeyipo. “It makes mobile payments services easy to deploy and even easier to use.”
Speaking of the partnership, Pattison Mutambiranwa, SVP Middle East and Africa at Entersekt, said, “It pays to work with the best.
Like Entersekt in South Africa, CWG counts up to 60 percent of domestic banks as customers. It is deeply knowledgeable of the financial sector’s needs, not only in Nigeria but right across West, Central, and East Africa.
We’ve enjoyed every minute working with such a dynamic and experienced team, and I’m confident our combined competencies will work wonders for organizations deploying our technology.”
E-Business
NDPC Secures NJI’s Support for Data Privacy Rights in Nigeria
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Nigeria Data Protection Commission (NDPC) has secured the support of the National Judicial Institute (NJI), in line with its objective of safeguarding the data privacy rights of Nigerians.
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Dr. Vincent Olatunji, national commissioner and CEO, NDPC Hon. Justice Salisu Garba Abdullahi (Rtd) of NJI
This was contained in a press statement signed by Mr Itunu Dosekun, head of Media, NDPC, and made available to journalists in Abuja, the nation’s capital.
NJI is a government institution responsible for the training of judicial officers in Nigeria, from magistrate courts to the Supreme Court of Nigeria.
During a courtesy visit by the Commission to NJI, Dr. Vincent Olatunji, national commissioner and CEO, NDPC, lauded the management of NJI under the leadership of Hon. Justice Salisu Garba Abdullahi (Rtd) for the milestones the Institute has achieved in human capital development, particularly for judicial officers and fellows of the Institute.
While commenting on the importance of the Nigeria Data Protection Act in the face of disruptive technologies, Dr Olatunji reiterated the need to collaborate with NJI in keeping judicial officers abreast of privacy jurisprudence.
He noted that decisions on the enjoyment of data privacy rights concerning one citizen have fundamental implications for all citizens.
“It is the digital age, and the protection of the privacy of all citizens worldwide is paramount.
“It is now the right of all citizens to have their privacy protected. This is why countries across the globe are putting adequate measures in place to ensure enforceable data protection rights, as well as establishing data protection authorities to enforce data protection laws,” Dr Olatunji stated.
In his response, Justice Abdullahi commended the NDPC, under Dr Olatunji’s leadership, for its significant achievements since its establishment.
He pledged to collaborate with the NDPC to raise awareness of data protection and privacy within the judiciary and accepted the NDPC’s proposal, anchored on capacity building for judges, NJI fellows, and employees.
“The issue of data protection is very important. It is new, and judges need to be trained. The first step we should take is to review the Act (NDP Act) that established the Commission. Additionally, there is a need for us to train our fellows on data protection.”
NJI and NDPC have put in place a technical working group that will draw up a work plan and coordinate the initiatives for capacity building. The working group is expected to report back within days to commence implementation.
E-Business
Flutterwave Partners NITDA to Strengthen Nigeria’s Digital Economy
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Flutterwave, Africa’s payments technology company, said it has formed a strategic partnership with the National Information Technology Development Agency (NITDA), to drive digital transformation and ultimately economic growth across Nigeria.
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Olugbenga Agboola, founder and CEO of Flutterwave and Kashifu Abdullahi, director-general & CEO of NITDA
The collaboration aims to address the slow adoption of digital solutions among small and medium-sized enterprises (SMEs), a critical challenge that, when solved, can significantly boost the nation’s digital economy.
By promoting digital literacy, encouraging fintech innovation, and supporting key national initiatives such as the National Digital Economy Policy and Strategy (NDEPS), the partnership has a goal to accelerate Nigeria’s transition into a thriving digital ecosystem.
Despite the rapid evolution of digital payment systems, many SMEs in Nigeria still rely on traditional business models that limit their growth potential.
The inability to adopt digital payments, leverage e-commerce, and access secure financial solutions creates barriers to scaling and participating in the global economy.
Recognising this challenge, Flutterwave and NITDA were collaborating to bridge the digital divide and equip businesses with the right tools and expertise to embrace digital transformation.
Speaking on the partnership, Olugbenga Agboola, founder and CEO of Flutterwave, said, “many small businesses in Nigeria struggle to fully embrace digital solutions, and we believe that by providing seamless and secure payment technologies, we can empower them to scale with confidence.
“This partnership with NITDA reinforces our dedication to encouraging a truly inclusive digital economy, and we are proud to contribute to the outstanding work NITDA is doing to transform Nigeria’s digital landscape.”
Kashifu Abdullahi, director-general & CEO of NITDA, added, “Flutterwave’s reputation for fintech innovation aligns perfectly with our vision for a thriving digital economy. We recognize that slow digital adoption among SMEs has hindered economic growth, and through this collaboration, we aim to provide businesses with the necessary resources and infrastructure to transition into the digital age.”
The partnership represents a significant step toward Nigeria’s digital transformation, with Flutterwave and NITDA working hand in hand to create an environment where businesses can thrive through innovative financial solutions.
Flutterwave is a payments technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API).
Flutterwave has processed over 890 million transactions in excess of $34 billion, serves global and African customers like Uber, Air Peace, Bamboo, PiggyVest, and across various industries.
E-Business
AfCFTA Digital Trade Protocol Targets 50% Growth by 2030
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Vice President, Kashim Shettima, has stated that the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol is set to grow intra-African trade from 18 per cent in 2022 to 50 per cent by 2030.
Commenting at the AfCFTA Digital Trade Workshop and Global Market, with the theme, “Unlocking State Exports Potential,” held in Abuja, Shettima who was represented by the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlights Nigeria’s role in digital commerce, citing the country’s 109 million internet users and expanding mobile economy as key enablers.
He emphasised that Nigeria’s advancements in mobile payments have revolutionized cross-border transactions, financial inclusion, and digital commerce, positioning the country as Africa’s digital trade hub.
“The internet economy is expected to contribute 5.2 per cent of Africa’s GDP this year, with the digital economy projected to grow to $180 billion, up from $115 billion in 2020,” he noted.
Shettima reaffirmed Nigeria’s commitment to modernising passport application systems and upgrading port infrastructure to streamline trade, reduce customs processing times, and strengthen the country’s role in handling West Africa’s cargo.
“We must move from policy discussions to implementing digitally enabled trade that fosters economic prosperity,” he urged.
The African Union (AU) recently recognised Nigeria as the Digital Trade Champion for Africa under the AfCFTA Digital Trade Protocol, a status confirmed during the 38th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia.
Governor Uba Sani of Kaduna State, represented by Deputy Governor Dr. Hadiza Balarabe, warns that any nation failing to embrace digital trade risks being left behind. He commends the Tinubu administration for its achievements in the ICT sector.
“Digital trade platforms have broken traditional barriers, allowing businesses of all sizes to access regional and global markets more efficiently,” he says.
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