Brands & PeopleFintech

Artificial intelligence could bridge Africa's $120 billion lending gap.

The Chief Executive Officer of VerifyMe, Esigie Aguele, says artificial intelligence will help accelerate Africa’s drive towards achieving open finance and bridging the continent’s $120bn lending gap. Aguele made the projection while speaking on a TV business programme, Power Lunch West Africa, on CNBC at the weekend. He said, “The opportunities that can be harnessed from AI in Africa are…
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Fintech

MTN merges two financial subsidiaries

Telecommunications company, MTN Nigeria, has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited. This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold…
Fintech

New Zealand bans TikTok on lawmakers devices

New Zealand will ban Chinese-owned social media app TikTok from lawmakers’ devices, officials told AFP Friday, becoming the latest Western nation to act on security fears about the platform. TikTok will be banned on all devices with access to the parliamentary network, Parliamentary Service chief executive Rafael Gonzalez-Montero said. The ban will start from March 31. Gonzalez-Montero said the…
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Fintech

Rising inflation and a shortage of currency reduce the demand for smartphones

Rising inflation and shortage of foreign currency led to a 32.1 per cent decline in Nigeria’s smartphone market in the fourth quarter of 2022, a new market analysis by International Data Corporation has disclosed. According to the market intelligence firm, Africa’s smartphone market declined for the sixth consecutive quarter in Q4 2022, with shipments falling by 17.8 per cent year-on-year to…
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Fintech

Meta, new layoffs cut 10,000 jobs.

Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company’s “year of efficiency” as the US tech sector continues to downsize. In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the…
Fintech

Almost 13 million cyber attacks recorded during polls –FG

The 2023 presidential and National Assembly elections attracted 12.99 million cyber attacks, the Minister of Communications and Digital Economy, Isa Pantami, has disclosed. He noted that the attacks were recorded between 24th February and 28th February, with the presidential…
Fintech

Will Open Banking expose Nigerians to cybercrime and data breaches?

With the launch of a Regulatory Framework for Open Banking by the Central Bank of Nigeria (CBN) last Wednesday, Nigeria has joined the vanguard of other countries that poised to deepen innovation and increase the range of products available to customers in the financial service industry, reports Ibrahim Apekhade Yusuf BANKING in Nigeria is showing a lot of promise thanks to the setting up of the…
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