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E-Business

OkHi Partners Interswitch on Digital Address Verification Service

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OkHi, smart addressing startup, has launched its smart address verification product with Interswitch Group, Africa’s technology-driven company focused on the digitization of payments across the continent. Quickteller, Interswitch’s payments and wallet service, has become the first business in Nigeria to use the OkHi address verification service.

Following the launch, Interswitch will provide all of their customers an OkHi address, providing them access to larger wallets, faster loans and improve last-mile delivery through Quickteller’s Citimart and Global Mall. In addition, Quickteller customers with an OkHi address will be able to use it for personal purposes or with other delivery services – helping to make daily tasks easier.

The unique technology provides an alternative to existing Know Your Customer (KYC) and paper-based processes, facilitating a more seamless digital service, helping to reduce onboarding times and lower operating costs.

With the accelerating digital adoption in Nigeria, and its transformation of the way people interact, OkHi’s arrival is well timed. In a recent pilot with Stanbic IBTC, OkHi proved that it could increase the accuracy of address verification by 29 per cent, increase the speed by 4x and reduce the cost by 52 per cent.

CEO and Founder of OkHi, Timbo Drayson, said: “At OkHi, we have developed the first solution in the world that can collect an extremely accurate address and verify it through a smartphone. To have Interswitch launching us to millions of people, via Quickteller, gives us an incredible platform to tackle financial inclusion in Nigeria.”

Commenting on the development, Interswitch Group’s Divisional CEO for Industry Ecosystem, Chinyere Don-Okhuofu, said: “At Interswitch, we take our customers and their evolving needs seriously and we are committed to identifying opportunities to unlock economic value for Africans.

This partnership with OkHi is built on the need to digitize and simplify the existing address verification system thereby dealing with another significant barrier to financial services growth across Africa.”

Founded in Kenya in 2014, OkHi provides digital address verification to financial services, tackling a problem space that is holding back growth and stifling access to credit for millions of Nigerians.

OkHi’s smart addressing technology makes it easy for financial services to verify their customer’s address through their smartphone, replacing the need for utility bills or physical visits.


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E-Business

MRA Flags AI Concerns ahead of Press Freedom Day Today

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Media Rights Agenda (MRA), has unveiled a visual brief emphasizing the critical need for responsible and ethical use of Artificial Intelligence (AI) in journalism, particularly within Nigeria’s evolving media environment.

MRA Flags AI Concerns ahead of Press Freedom Day Today

This is coming ahead of World Press Freedom Day today.

The visual brief, developed under this year’s global theme, “Reporting in the Brave New World – The Impact of Artificial Intelligence on Press Freedom and the Media,” explores the opportunities and dangers AI poses to media freedom in Nigeria and across the world.

In a statement released in Lagos by John Gbadamosi, its programme officer,MRA noted that AI is quickly changing the way news is produced and consumed, adding that it offers powerful tools that can assist journalists in analysing data, translating stories into local languages, and extend the reach of vital information, especially to underserved areas with limited media infrastructure.

Gbadamosi added that AI can help to ensure that essential news and information are also disseminated to local communities.

However, Gbadamosi warned that the same technology is being weaponised to undermine truth and press freedom, saying: “While AI can be used to advance journalism, it can just as easily be exploited to spread disinformation, create deepfakes, and drown out independent voices with algorithmically generated propaganda.”

According to him, “In Nigeria, journalists face threats that go beyond just physical dangers; such threats now also encompass digital, algorithmic, and systemic harms and challenges, which requires media professionals to ensure that AI enhances, rather than undermines, media freedom and that technology is used to promote the truth, not distort it.”

“The visual brief breaks down key concepts like misinformation, disinformation, mal-information, and information overload, which are increasingly shaping Nigeria’s digital media ecosystem. It also raises concerns about AI-enabled surveillance, political manipulation, and the marginalisation of community-based journalists.”

Gbadamosi stated that the visual brief also advocates support for independent media, transparent AI regulations aligned with Nigeria’s context, increased digital literacy, and stronger accountability from tech companies regarding platform content and influence.

He therefore urged all stakeholders to advocate for responsible AI usage and a free, independent, professional and vibrant media environment in Nigeria, stressing that “when media freedom thrives, democracy lives.”


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Nigerians to Pay More for IDs as NIMC Raises Service Fees

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The National Identity Management Commission (NIMC) has raised the fees for all its products and services, including charges related to data modification on the National Identification Number (NIN) database.

In a statement issued in Abuja, Kayode Adegoke, NIMC’s Head of Corporate Communications, announced that the updated service fees are published on the commission’s official website.

Adegoke noted that the new pricing structure for NIMC’s services and products marks the first comprehensive review of its fees in over a decade.

The statement stated that the revised pricing is designed to align with prevailing operational costs and industry standards, while continuing to ensure that services remain accessible and affordable for all Nigerians.

The statement warned its Front-End Partners (FEPs) to comply with the newly approved rates, stating that any failure to do so could attract strict sanctions, including possible license revocation.

“The new structure ensures that the quality and integrity of our services remain uncompromised. We are committed to protecting the interests of Nigerians through fair and transparent pricing,” the statement read.

NIMC urged the public to report any Front-End Partners (FEPs) found charging beyond the approved rates. Reports can be directed to the Commission’s Inspectorate and Enforcement Unit via email at ieu@nimc.gov.ng

It further reaffirmed its commitment to delivering secure and dependable identity services. A complete list of the revised service fees can be accessed on its official website at www.nimc.gov.ng.

In a related development, Abisoye Coker-Odusote, Director General of the National Identity Management Commission (NIMC), expressed sincere appreciation to President Bola Ahmed Tinubu for his unwavering support in enhancing the National Identity Database (NIDB).

She also extended her gratitude to the Minister of Interior, Dr. Olubunmi Tunji-Ojo, and other key partners for their pivotal roles in advancing a sustainable and effective identity management system.

 


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PwC says AI Adoption by African Businesses will Unlock Growth

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Artificial intelligence (AI) adoption could boost Africa’s gross domestic product by an additional 4.9 percentage points by 2035, as the African economy is reshaped by the emerging technology.

This is according to PwC’s recently released report: Value in Motion. It is based on data-driven scenario analysis, which reveals that globally, AI has the potential to boost economic output by up to 15 percentage points over the next decade.

The global growth dividend from AI varies according to the region and depends on more than technical success – it also hinges on responsible deployment, clear governance, and public and organisational trust, notes the report.

This would effectively add one percentage point to annual growth rates − on par with the growth increment the world began enjoying with 19th century industrialisation.

In other scenarios analysed by PwC, characterised by lower trust and co-operation, the incremental boost to the economy from AI would be more muted at 8%, or in a pessimistic scenario just 1%.

The research finds that rapid reconfiguration of the economy is already under way. PwC analysis indicates the pressure for African businesses to reinvent themselves is at some of the highest levels seen in the last 25 years across six out of nine sectors in Africa.

The $150.54 billion in revenue in Africa is set to shift between companies in 2025 alone, a trend that begun prior to the recent global increase in tariffs.

PwC’s research suggests that over the next decade, industries will reconfigure to meet human needs in new ways, leading to the formation of new ‘domains’ that cross traditional sector lines.

Dion Shango, PwC Africa CEO, explains: “As the structure of the economy transforms, value will increasingly come from organisations that can connect the dots across traditional industry boundaries. By focusing on evolving customer needs and using technology to dramatically change the way business operates, business leaders can unlock a step change in growth.”

According to Google’s Digital Opportunity of Africa report, AI could contribute up to $30 billion to Sub-Saharan Africa’s economy by 2030. Africa stands to accelerate its growth through AI as more people gain connectivity and harness technology for good, it notes.

“Across the continent, a new generation of innovators are harnessing technology to solve some of the world’s most pressing challenges,” says Google.

In terms of AI’s impact on the climate, PwC’s analysis shows that while AI is set to accelerate growth, the costs of physical climate threats will impose economic constraints.

PwC’s economic modelling suggests that physical climate impacts could result in the African economy being over 12%smaller (globally: 7%) by 2035 in all scenarios than it would have been otherwise.

“Increased AI adoption is expected to lead to increased energy use by data centres. However, modest use of AI to drive energy-efficiency could offset this increased use of energy. PwC estimates that the energy use and emissions impact of AI would be neutral if each additional percentage point of AI use led to innovations which cut energy intensity by just 0.1% globally,” says the report.


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