Nigeria – Page 3 – Africa Tech Digest

Fintech Focus: The link between Open Banking and financial inclusion

2Sep

By Africa Tech DigestNo Comments

Fintech, Nigeria

Fintech Focus: The link between Open Banking and financial inclusion

Nigerian banks sit on an inventory of consumer data that fintech startups in the country can only dream of. With more than 70 million active bank customers in Nigeria, banks possess valuable big data, consisting of demographic, personal, and professional information of clients as well as transaction history, consumption patterns, and movements. There’s so much that can be done with this data. For instance, lenders can segment their client base to offer personalised savings or loan offers. The data can also be deployed in targeting Nigeria’s huge unbanked population with customised services, based on similar profiles to existing clients. Continue reading

Nigeria Prepares to Launch Own Cryptocurrency – “eNaira”

31Aug

By Africa Tech DigestNo Comments

Cryptocurrency, ecommerce, Fintech, Nigeria

Nigeria Prepares to Launch Own Cryptocurrency – “eNaira”

Nigeria is working with fintech Bitt Inc as a technical partner to launch the country’s own cryptocurrency – the eNaira – according to the Central Bank of Nigeria (CBN). The Barbados-based Bitt Inc earlier in 2021 led the development of the Eastern Caribbean Currency Union’s ‘DCash’ – the first digital cash issued by a currency union central bank. Reuters writes that the CBN plans to launch the digital currency in October after the country barred its banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies at the beginning of the year in February. Godwin Emefiele, the CBN’s Governor, has said that the eNaira would operate as a wallet against which customers can hold existing funds within their bank accounts. In a statement on Monday, Emefi...

Nigeria’s data usage hits 205,880 terabytes representing 202% rise in 3 years

29Aug

By Africa Tech DigestNo Comments

Nigeria, Telecommunications

Nigeria’s data usage hits 205,880 terabytes representing 202% rise in 3 years

Nigeria’s current data usage has hit 205,880 terabytes. This is according to data from the Nigerian Communications Commission (NCC). According to the commission, the latest output indicates an increase of 202.08 per cent in the last three years. According to the NCC data, information from subscriber/network reports demonstrates that data usage jumped from 68,154.12 terabytes in 2019 to 125,149.86 terabytes in 2020 and up to its current value of 205,880.4 terabytes. The report explained that Nigerians consumed more data due to the outbreak of the COVID-19 pandemic in 2020 because most functions had to be done through virtual platforms as work and other forms of activity moved from physical to remote. This was buttressed by the former CEO of MTN Nigeria, Ferdi Moolman who...

Tizeti is testing a next-gen technology that could bring 5G-level speeds to Nigeria

26Aug

By Africa Tech DigestNo Comments

Mobile, Nigeria, Telecommunications

Tizeti is testing a next-gen technology that could bring 5G-level speeds to Nigeria

If you are in Nigeria and have a smartphone close by, let’s do a little test. Spoiler Alert, we’re borrowing a leaf from Tizeti’s playbook, so try to keep up. Go to Speedtest.net on your browser and let it load for a few seconds. What speed do you see? 500 kbps? We’re sorry about that. 2 Mbps? Well, pretty much standard. 50 Mbps? You’re simply the boss. 100 Mbps? Speak the truth; you are not in Nigeria. Whatever your results, they’ll probably pale in comparison to what Tizeti has in store. If recent updates are anything to go by, the telecom startup is currently testing next-generation WiFi technology in Nigeria that, if successful, could deliver Internet speeds up to 1Gbps — over 30x Nigeria’s average Internet speed. Continue reading

Explained: Can the Nigerian government really spy on your WhatsApp messages?

23Aug

By Africa Tech DigestNo Comments

Apps, Cybersecurity, Nigeria, Telecommunications, West Africa

Explained: Can the Nigerian government really spy on your WhatsApp messages?

Barely a month after blocking access to Twitter, the Nigerian government allocated ₦1.93 billion ($4.6 million) to the National Intelligence Agency (NIA) for a “WhatsApp Intercept Solution”. An interception solution for WhatsApp would allow an external party (the government, in this case) to access, monitor, or block communications (calls and chats) carried out by users via the app. The move is reportedly aimed at protecting Nigeria from cybercrime and terrorism perpetrated through such messaging platforms. However, it is seen by media stakeholders and activists as yet another attempt to restrict civil liberties. Continue reading

8Jun

By Africa Tech DigestNo Comments

Nigeria, West Africa

New innovation centre launched in Lagos

Governor of Lagos state, Mr Babajide Sanwo-Olu, has unveiled the Eko Innovation Centre, a tech hub that is private sector-driven. The initiative was developed to strategically increase entrepreneurial and technological capacity across the state. Speaking during the launch of the centre located at Ikoyi, Sanwo-Olu, who would be sworn in today as Governor of Lagos State, said the location of the innovation centre used to be one of his campaign offices. “It used to be a place where I had lots of young people who used to spend long nights to develop a lot of concepts around my manifesto. “So, we said to ourselves, what is the best thing we can use this place for and so we decided to turn it into a tech hub, where people can come here to develop ideas. “So, it is for Lagosians t...

20Jan

By Africa Tech DigestNo Comments

Nigeria, West Africa

Nigeria ends 2018 with 172m subscribers, 31.5% broadband penetration

Nigeria’s telecommunications sector ended the year 2018 with 172 million subscribers, with teledensity rising to 123.4 per cent from 105 per cent in January 2018. Telephone density or teledensity is the number of telephone connections for every hundred individuals living within an area. It varies widely across the nations and also between urban and rural areas within a country. Subscribers’ statistics released yesterday by the Nigerian Communications Commission (NCC) showed that service providers including MTN, Globacom, Airtel, 9Mobile, among others got 25.5 million new subscribers in the course of the year. In the same vein, broadband penetration in Nigeria rose from 30.9 per cent in November to 31.5 per cent as at December 31. Broadband is wide bandwidth data transmission, wh...

19Jan

By Africa Tech DigestNo Comments

Central Africa, East Africa, Nigeria, Southern Africa, Tech Policy, West Africa

Zimbabwe’s internet blackout shows how powerless major telcos are against governments

Internet access was restored in Zimbabwe late on Wednesday, but on Thursday WhatsApp, Facebook and Twitter remained inaccessible. More than 600 people were arrested this week as police armed with AK-47 rifles rounded up protestors, according to the Associated Press. At least six people were killed when the military was deployed to quell protests against high fuel prices on Monday. Amnesty International reported eight deaths, while the Association of Doctors for Human Rights reported treated 68 cases of gunshot wounds and more than 100 other cases of assaults. A tense calm returned on Thursday. Zimbabweans were protesting a fuel hike that would see the price of petrol and diesel rise by 150%in a country that already had fuel shortages. Amid the violent crackdown on pro...

18Jan

By Africa Tech DigestNo Comments

Central Africa, East Africa, Nigeria, Southern Africa, Tech Policy, West Africa

Internet Switched Back On Again In Zimbabwe After A Total Blackout For The Second Time In A Week

The Zimbabwean story continues to be crazier at every turn. Around mid day on Tuesday the government ordered internet service providers to block all citizens from the internet. The nation was switched back on yesterday after 30 hours of darkness. When we thought that it was all done, the government issued another directive at Nicodemus time last night around 10 pm instructing total shut down again. Zimbabwe woke up to no internet today and Econet subscribers had the following message in their SMS inbox: At 22:05 17/01/19, we were served with another directive for total shutdown of the internet until further notice. Our lawyers advised we are required to comply with the directive pending the Courts decision on its legality. The earlier directives are already the subject of a pendin...

5 Nigerian startups you should pay attention to in 2018

29Dec

By Africa Tech DigestNo Comments

List & Guides, Nigeria, Start-ups

5 Nigerian startups you should pay attention to in 2018

This past year wrapped up with several notable events surrounding the Nigerian tech scene. While some events provoked watery eyes, such as the passing on of young talents, there was also a lot to rejoice over. More local startups caught the attention of foreign investors, and the tech scene is decentralising from Lagos and emerging in other states. Furthermore, Nigerian startups have shown doggedness in their quest to solve problems in the country as more keep springing almost on a daily basis. There’s a chance that these only signal the beginning of brighter and more achievements in the new year. While we await more, here are 5 Nigerian startups you shouldn’t take your eyes off as 2018 creeps in. Monapay Monapay, a fintech startup, launched in 2017 intends to go...