Nigeria’s cryptocurrency market is very vibrant and complicated. Nigeria as a global leader in Bitcoin trading, has also reflected a lack of confidence in the established system and a need for alternate revenue streams and forms of money. This was evident as the Nigerian government outlawed cryptocurrency trading and ordered banks to suspend any accounts […]

The Federation of Small Businesses (FSB) is marking its 50th anniversary by honouring the achievements and contributions of small businesses and self-employed individuals across the UK.  The FSB Celebrating Small Business Awards 2024 are free to enter and open to all, regardless of whether they are FSB members or not. The deadline for applications is […]

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso has revealed that mobile money and digital lending are expected to drive growth in the service sector in 2024. The announcement was made during the launch of The Nigerian Economic Summit Group 2024 Macroeconomic Outlook Report. Cardoso emphasised that these sectors would continue to dominate economic […]

In a significant regulatory overhaul, the Central Bank of Nigeria (CBN) has taken a bold step by announcing a comprehensive ban on banks and financial technology companies (fintechs) participating in international money transfer services. The move, unveiled through new guidelines on January 31, 2024, marks a pivotal expansion of restrictions previously applicable solely to deposit […]

RightCard Payment Services Limited (LemFi) has announced the resumption of its remittance services to Ghana, following approval from the Bank of Ghana (BoG) to recommence operations with selected partners.  The fintech company officially reinstated its money transfer services to Ghana on Monday February 5, after a temporary suspension in November 2023. With the approval from […]

Artificial intelligence is no longer just for big tech companies. In Nigeria, AI has become very important for companies. In the constantly changing Nigerian small business world, using Artificial Intelligence (AI) tools has become a meaningful way to improve operational performance and cut costs. As companies deal with economic and competition problems, using AI technologies […]

Elon Musk, the owner of X, formerly Twitter, is pleading with advertisers to return to the platform, even though it has been in the news recently for the wrong reasons.  The CEO, Linda Yaccarino, stressed X’s dedication to putting child safety online first in a letter sent to both current and past advertisers. Elon Musk, […]

MTN Group has revealed its intention to invest $215 million in the Republic of Benin over the course of the next three years.  MTN’s commitment to upgrading telecom infrastructure and improving connectivity in the West African nation is highlighted by this major financial pledge, which was made during a high-profile leadership visit to Cotonou for […]

In a strategic move to advance Africa’s digital economic development, the Africa Fintech Network (AFN) has unveiled its newly appointed Board of Directors for the period 2023 – 2026. The board comprises accomplished professionals drawn from various disciplines across the continent, reflecting AFN’s commitment to catalyzing Africa’s fintech landscape. AFN’s Mission and Milestones Founded in […]

In a strategic move to empower its customers with enhanced financial control, Kroo Bank is set to launch its revolutionary feature, ‘Kroo Pots.’ Responding to the fervent requests of its user base, Kroo aims to redefine the way individuals manage and allocate their funds, fostering a sense of financial empowerment in the year 2024. A […]

Africa’s pioneer metaverse, Africarare is getting ready to launch the $Ubuntu Token, a virtual token that will act as a medium of exchange for both customers and merchants in the virtual marketplace. Developed by the innovation business Mann Made, situated in Johannesburg, Africarare is an immersive 3D virtual reality hotspot. The Web3 platform, driven by […]

Visa, a global leader in digital payments, has opened the application process for the second cohort of its Africa Fintech Accelerator program. The announcement was made at Fintech Day in Morocco, where industry experts gathered to explore opportunities for enhancing digital payments and financial inclusion in the country. The initiative aims to support Seed to […]

Smile ID, a leading digital KYC provider in Africa found that 80% of fraud attacks on the continent target national IDs, making them Africa’s most targeted document type after completing over 100 million identity verifications in the past five years. The most vulnerable ID is the Tanzanian, with 32% attempted fraud. According to the research, […]

Nigeria’s financial system faced fraud in 2014. In response, the Central Bank and all banks launched the Bank Verification Number. To prevent unlawful transactions, this 11-digit identity was connected to fingerprints and facial scans.  After initial security concerns, the BVN succeeded. Increased financial inclusion, decreased fraud, and simplified credit checks. It protects banks and clients […]

In a pioneering move to revolutionise the service industry, Pesapal has introduced Pesapal Tips, an innovative cashless tipping solution seamlessly integrated into the Sabi Point of Sale (POS) machine.  This groundbreaking feature aims to streamline the tipping process, allowing customers to express their appreciation for outstanding service without the need for physical cash. Simplifying Tipping […]

Moniepoint, a leading payments startup, recorded a milestone feat in 2023. Despite industry challenges, the fintech juggernaut averaged a staggering 433 million monthly transactions across its diverse channels – web, mobile, card, and in-person payments. The internal company presentation revealed a remarkable closure to the year with an impressive 5.2 billion transactions, valued at over […]

The Financial Sector Conduct Authority (FSCA) of South Africa has raised alarm on the public involvement in MMM Krypto, a mutual aid fund, citing potential risks.  The FSCA reveals that MMM Krypto might be offering financial services to the South African public through social media platforms like YouTube, TikTok, and Facebook, accompanied by enticing promises […]

The Nigerian Data Protection Commission (NDPC) is investigating 17 significant data breaches in banking, technology, education, consultancy, government, logistics, and gaming/lottery.  NDPC National Commissioner Dr Vincent Olatunji said this at Global Data Privacy Day in Abuja.  In addition, the commission received over 1000 data breach complaints, prompting investigations. Olatunji said the commission’s efforts in the […]

The Federal Government says it is almost ready to digitise all public services so that the country can take advantage of the benefits of the digital economy and make sure that people’s data is safe.  It was said by Dr Bosun Tijani, Minister of Communications, Innovation, and the Digital Economy, at a news conference on […]

Meta’s 2Africa sublease cable is expected to arrive in Nigeria in February, targeting one million digital jobs beginning in two major Nigerian cities, Lagos and AKwaIbom. While inaugurating the new American Corner in Lekki, Lagos, United States Secretary of State Anthony Blinken affirmed this in Lagos.  According to Blinken, American businesses are helping President Bola […]