Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

News

Interswitch Headlines Africa Fintech Summit Nairobi 2024 With Gold Sponsorship

Published

on

Kindly share this post

The Africa Fintech Summit has announced Interswitch Group as Gold Sponsor for the Africa Fintech Summit (AFTS) 2024, to be held in Nairobi, Kenya, from September 4-6, 2024.

The partnership comes at a time of significant expansion of Interswitch’s operational footprints across the continent on the back of notable milestones such as the recent consolidation of its strategic partnership with ACI Worldwide to drive the modernisation of real-time payments across 32 Markets in Sub-Saharan Africa, as well as its foray into other industry verticals including Healthcare, Energy & Transportation, among others.

Since commencing operations in 2002 out of Nigeria, Interswitch has remained at the forefront of driving innovation in the financial technology and digital payments industry, facilitating payments and leveraging innovative technology solutions to shape the future of trade and digital commerce in Africa.

As one of the pioneers of digital payment innovation in Africa, Interswitch, at its inception, disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services. It also launched Verve, Africa’s premier and leading domestic EMV-standard chip and pin payments card scheme.

Since 2021, Verve has controlled more than 50% of the Nigerian card market, courting deepened relationships with banking partners and fintech startups operating in Nigeria.

Additionally, a recent change in consumer behaviour and macroeconomic conditions has led more Nigerian banks and fintech startups to issue Verve cards to customers as a locally relevant and reliable alternative.

For instance, OPay, one of Nigeria’s largest digital banks, has issued 13 million Verve cards, while Moniepoint has issued about 4 million, further solidifying Verve’s position as a leading card and payment chip provider.

Today, Interswitch is a leading player with critical mass across Africa’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omnichannel payment solutions.

Interswitch’s vision is to make payments a seamless part of everyday life in Africa, overarching the company’s drive to facilitate intuitive transaction solutions that enable individuals and communities to prosper across the continent.

Interswitch’s broad network and robust payments platform have been instrumental in the development of the payments ecosystem across the continent and provide Interswitch with the infrastructure to expand across Africa.

Commenting on the partnership with the Africa Fintech Summit for this year’s edition, Interswitch Founder & Group CEO, Mitchell Elegbe remarks, “As an Africa-focused integrated digital payments and commerce leader, and an important gateway to Africa’s Fintech Ecosystem, we are extremely delighted to support ecosystem engagement and valuable thought-leadership through the platform of the Africa Fintech Summit. 22 years ago, we set out, with a clear vision to solve social problems, starting by digitizing the use of cash.

“Today, on the realization of the tremendous transformative potential of technology to create value and unlock prosperity for Africa, we’ve set our sights on leveraging technology and innovation to digitize transactions and unlock value in other key social service sectors, just as we continue to do in the sphere of financial services, and we are excited to see that our roadmap and perspective aptly align with the theme of this year’s AFTS, which is ‘Fintech In Every Industry’.

“It is with immense gratitude and great delight that we welcome Interswitch as Gold Sponsor for the Africa Fintech Summit in Nairobi this year. It’s warming to have Interswitch grace the big stage this year and share detailed insights, trends and expert perspectives as a revered player in the African Payments Space.

“After 2 decades of building innovative African payment solutions for most payment touchpoints across the continent, we are deeply humbled to have Interswitch’s wealth of experience at this year’s summit.

This is particularly important because it fits into our 2024 AFTS in Nairobi Theme: ‘Fintech in Every Industry,’ underscoring our expectation that in the mobile-first continent of Africa, we will see fintech penetrating through all industries.

All sectors stand to benefit from being powered and served by fintechs – including insurance, saving & investments, cross-border trade, e-commerce, mobile money & digital banking, utilities, mining, trade, healthcare, and education.

“We will also see non-fintech companies leapfrogging digitally and providing these services embedded in their own product offerings as many service providers have done across the continent,” said Zekarias Amsalu, Co-Founder of AFTS and MD of Ibex Frontier.

Since its first summit in 2018, the Africa Fintech Summit has become the largest annual financial technology gathering on the African continent. In addition to its partnership with Interswitch, AFTS will be supported by a diverse cohort of partners and sponsors.

#AFTSNAIROBI2024 will bring Keynote Speeches from Kenyan policymakers & AfCFTA as well as a VIP dinner for Speakers and invited guests on the night of 04 April; panels, workshops and fireside chats on 05 & 06 September; a delegation from Prosper’s Tech for Trade Alliance along with AfCFTA’s Digital Protocol, Alpha Expo Pitch Competition & Ecosystem tours on the 06th September. The event will conclude with a happy hour for delegates and attendees on both the 5th & 6th of September.

Join Africa’s largest community of financial technology innovators, investors, and regulators at the 12th edition of AFTS coming for the first time to Nairobi, Kenya on September 4-6, 2024. Supported by an advisory board of thought leaders and fintech pioneers, the AFTS is a unique space where ideas are explored, investments are mobilized, and collaborations are formed across sectors and geographies.

More than just a conference, AFTS brings the issues, entrepreneurs, and opportunities revolutionizing finance in Africa to the world’s stage. AFTS has hosted ten previous summits having hosted 5 editions in Washington, DC and 5 more editions in Lagos, Addis Ababa, Cairo, Cape Town, and Lusaka.

Over the past 10 summits, AFTS has supported Over USD 125M in capital raise efforts for African fintech startups, Groundbreaking launch of US-government funded Prosper Africa Tech for Trade Alliance, Public discourse and debate surrounding industry trends, brand building and awareness opportunities across global fintech media, knowledge sharing between banking/fintech operators with regulators, active engagement and inclusion of regulatory authorities in continental fintech conversation, and bring the largest source of truth for announcements of financial technology innovation, and strategic partnerships across the continent and globally.

With an information-packed agenda, AFTSNAIROBI 2024 will feature regulatory roundtables, bilateral meetings, collaborative partnerships, workshops, demos, pitch competitions, ecosystem tours, whitepapers, awards, and plenty of opportunities to collaborate with the investors and entrepreneurs shaping the future of African fintech, and we are glad to have Interswitch at the forefront of these conversations with leading names within the business like Akeem Lawal (MD, Payment Processing & Switching), Jonah Adams (MD, Digital Infrastructure & Managed Services, Peter Kawumi (MD, East Africa) & Bernard Kinara (Country VP, Kenya)

As in the past years, the event will be hybrid, with live streaming provided for remote attendees via our website. Limited tickets to the 12th Edition summit are now available. Secure your passes now on our website: https://www.africafintechsummit.com/.

 


Kindly share this post

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

News

Digital Africa Global Consult, NDPC Partner on Ground-Breaking “Nigeria Data Challenge” Initiative

Published

on

L-r: Babatunde Bamigboye, Head, Legal, Enforcement & Regulations at NDPC; Dr. Vincent Olatunji, National Commissioner/CEO, NDPC; Dr. Evans Woherem, Chairman, Digital Africa Global Consult; and Nneoma Ofodile, General Manager, Digital Africa Global Consult, displaying the MoU document after signing the deal at the NDPC headquarters, Abuja
Kindly share this post

In a bold and forward-looking move to embed a culture of data privacy in Nigeria’s educational landscape, Digital Africa Global Consult (DAGC), a leading technology advancement firm, on Friday, entered into a strategic partnership with the Nigeria Data Protection Commission (NDPC).

The collaboration was formalised through the signing of a Memorandum of Understanding (MoU) aimed at launching the Nigeria Data Challenge, a pioneering, education-focused initiative designed to inculcate data protection awareness among secondary school students across the country.

The Nigeria Data Challenge is more than a knowledge dissemination campaign. It is a structured, competitive learning program that introduces students to the fundamentals of data protection and digital privacy.

By engaging learners through curriculum-based activities, practical challenges, and assessments, the program seeks to nurture a generation of data-responsible citizens well-prepared for the demands of Nigeria’s digital future.

Speaking during the signing ceremony, Dr. Vincent Olatunji, National Commissioner and Chief Executive Officer of the NDPC, applauded Digital Africa Consult for initiating the challenge, which he described as timely and transformative.

He noted that the project complements the Commission’s existing Privacy Club Initiative in tertiary institutions and aligns with its broader mandate to cultivate a privacy-aware culture throughout Nigerian society.

“This partnership is a natural extension of our mission to build a data protection-conscious ecosystem in Nigeria. We are excited about the opportunity to reach young minds early, and this program promises to be a cornerstone in our awareness strategy,” Dr. Olatunji stated.

In his remarks, Dr. Evans Woherem, Chairman of Digital Africa Global Consult and a seasoned advocate of digital transformation in Africa, expressed appreciation to the NDPC for embracing the vision of early-stage data literacy.

He underscored the strategic importance of data as the “new oil” of the digital economy and emphasised the need to build data consciousness from a young age to prepare Nigeria for a competitive global digital environment.

“The future belongs to nations that understand and manage data responsibly. By starting from our secondary schools, we are planting the seeds of a resilient data economy,” Dr. Woherem said.

Adding further insight, Nneoma Ofodile, General Manager of Digital Africa Global Consult, highlighted the novelty and global relevance of the Nigeria Data Challenge.

“This is the first data-focused challenge of its kind anywhere in the world, making it not only a national milestone but also a global precedent. It aligns with Sustainable Development Goals (SDGs) 4, 9, and 16, promoting quality education, industry innovation, and strong institutions,” she stated.

She also noted the urgency of addressing the indiscriminate ways data is shared and mishandled by young people, often without their full understanding of the consequences.

“This initiative comes at a time when even students are becoming both victims and agents of data breaches, consciously or unconsciously. Awareness is not optional; it is essential,” she added.

Nigeria, like many nations in Africa, is rapidly digitizing across public and private sectors. With this digital evolution comes the imperative to protect personal data and promote ethical digital practices.

The establishment of the Nigeria Data Protection Commission in 2023 signalled a new era of regulatory oversight in line with global data protection trends, including the EU’s GDPR and similar frameworks adopted in countries like Kenya, South Africa, and Rwanda.

Yet, awareness of data rights and responsibilities remains low, particularly among the youth. Initiatives such as the Nigeria Data Challenge help bridge this critical knowledge gap by bringing data education into mainstream educational curricula.

The project is expected to scale through state-level rollouts and regional contests, eventually culminating in a national championship that will showcase top-performing schools and students.

This initiative arrives at a time when the digital economy is estimated to contribute significantly to Nigeria’s GDP, and data-driven innovation, spanning fintech, e-commerce, health tech, and AI—continues to surge. However, this growth is threatened by weak data protection compliance and poor digital hygiene among users.

The NDPC and Digital Africa Global Consult are optimistic that this partnership will ignite similar collaborations and inspire a new frontier in civic education, one that recognises data as both a right and a responsibility.

As Nigeria positions itself to be a digital leader in Africa, the Nigeria Data Challenge may well become a benchmark model for other countries aiming to develop grassroots data governance awareness.


Kindly share this post
Continue Reading

News

Elumelu, UBA Chair Seeks Digital Sovereignty for Africa

Published

on

Kindly share this post

Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings,  has called on Africa to avow itself in the fast-evolving global technology landscape, calling for  deeper partnerships, infrastructure investments, and recognition of the continent’s digital potential.

Elumelu, UBA Chair Seeks Digital Sovereignty for Africa

Tony Elumelu, chairman, United Bank for Africa (UBA) and Heirs Holdings,  

Elumelu, who made this statement in a series of posts on his verified X handle over the weekend, questioned the continent’s current role in global tech innovation and value creation, noting  that while technology is transforming the world, Africa risks being sidelined without urgent strategic action.

“We know technology is transforming our world, and the pace of transformation is accelerating. Where is Africa? Are we in the conversation, or are we being left behind?” Elumelu asked.

Citing Africa’s youthful, entrepreneurial, and digitally native population, Elumelu stressed the need for stronger global partnerships that empower African startups and tech developers to not only serve local markets but compete globally.

“Young Africans are digitally native, entrepreneurial, and hungry to build. What we need are more opportunities for partnership, more belief in our potential, and platforms to amplify our voices.

“Africa has led in digital banking and payments. Our value chains are ripe for transformation. Yet we need more investment, more platforms, and more belief in our potential.

“We know that many of the minerals that are techs’ foundation are found in Africa. But is Africa getting the benefit? Africa needs to capture the moment – ensure we have digital sovereignty – that African priorities are understood and met”

The UBA Chairman revealed that he attended an exclusive dinner with French President Emmanuel Macron and global technology executives at the Élysée Palace in Paris, where he sought to amplify Africa’s voice at the highest level of innovation discourse.

“I had enriching conversations with global tech CEOs, including the CEO of NVIDIA, Jensen Huang, on how innovation can and must solve humanity’s most urgent challenges—including those facing Africa,” he said.

Elumelu used the opportunity to advocate for the continent as the next frontier of global tech investment, calling attention to Africa’s unique demographics and the imperative for inclusive innovation.

Speaking further he said through his investment company, Heirs Holdings, remains committed to Africa’s digital transformation, actively backing tech ventures such as Heirs Technologies and Redtech Limited, which are building solutions tailored for the African market while competing on a global scale.

 

 


Kindly share this post
Continue Reading

News

FG Urges Private Sector to Invest in Africa’s Space Future

Published

on

Kindly share this post

National Space Research and Development Agency (NASRDA) has called on African businesses to seize the opportunities emerging within the rapidly growing global space economy, which is projected to reach one trillion dollars annually by 2030.

FG Urges Private Sector to Invest in Africa’s Space Future

The appeal was made by Dr Matthew Adepoju, director-general, NASRDA, during a press briefing at the weekend in advance of the second Africa Space Economy Conference and Exhibition (ASEC 2025), scheduled to take place in Abuja from 17 to 19 June.

The event, organised in collaboration with the Abuja Chamber of Commerce and Industry (ACCI), will focus on the theme “Space Economy and Emerging Markets in Africa”.

Dr Adepoju highlighted that the global space economy is on the verge of surpassing $500 billion per year, making it the fastest-growing economic sector worldwide.

He stressed that Africa must position itself at the forefront of innovation, science, and technology by investing in space-related ventures.

“This is the Fourth Industrial Revolution and Africa must not be left behind.

“It is time for us to take our rightful place at the forefront of global innovation, science and technology, with space technology being the pinnacle of human endeavour.

“The space economy is the fastest growing economic sector in the world and it is projected to hit one trillion dollars per annum. Currently it’s more than 500 billion dollars annually,” he said.

The conference aims to foster collaboration between industry leaders, academic institutions, and research organisations, all working to strengthen Nigeria’s space ecosystem.

Dr Adepoju praised President Bola Tinubu for his forward-thinking economic initiatives, noting the President’s directive to transform NASRDA into a revenue-generating body.

NASRDA, he said, is now committed to fully commercialising and industrialising space research. The upcoming conference is expected to attract international participants, with confirmed interest from countries such as China, the United States, and several European and African nations.

The agency is also preparing for the launch of four new satellites—three optical and one Synthetic Aperture Radar (SAR).

These satellites are intended to support national security, environmental monitoring, and economic surveillance, particularly in sectors such as the blue economy and oil and gas.

Dr Adepoju encouraged private sector involvement in areas including satellite technology, data services, rocketry, and space-based applications.

He stressed that with Nigeria being Africa’s most populous country, there is already a significant market for space-related products and services, and now is the time for African businesses to build capacity, invest locally, and retain economic value.

Speaking on behalf of Chief Emeka Obegolu, ACCI President, Mr Agabaidu Jideani, chamber’s director-general, noted that Africa has yet to fully tap into the space economy’s potential.

He pointed out challenges such as limited public awareness, infrastructure gaps, and evolving policy environments, but said these issues also present opportunities for innovation and investment.

“It was with this foresight that ACCI, through our Policy Advocacy Centre, in a strategic partnership with NASRDA, conceptualised the ASEC,” he said.

Dr Haruna Mohammed, co-chairman of the Conference Organising Committee, reiterated that the event is aimed at the private sector and will showcase how space-based technologies can aid in economic diversification, enhance infrastructure, and promote sustainable development across the continent.


Kindly share this post
Continue Reading

Trending