PwC: Global funding for Fintech nosedives to $6bn
Omobayo Azeez
May 12, 2020
By Omobayo Azeez Global funding for FinTech companies has declined to $6 billion the end first quarter (Q1) of 2020, a report by PricewaterhouseCoopers Nigeria (PwC) has disclosed. The report attributed the development to Coronavirus pandemic which forced investors to divest from different asset classes to strengthen their cash positions. The report published by PricewaterhouseCoopers Nigeria […]
COVID-19 lockdown: A litmus test for digital economy drive
Omobayo AzeezApril 21, 2020
The impacts exerted on the business environment and the socio-economic sphere by Coronavirus pandemic have been felt globally. In the midst of this life-threatening situation, however, the digital economy drive of countries such as Nigeria is being put to test. OMOBAYO AZEEZ reports. Coronavirus pandemic, now globally infamously known as COVID-19, has brought the global economy on […]
Digital payment improves as mobile money accounts surpass 1bn mark
Omobayo AzeezApril 6, 2020
As Nigerian banks execute N48.54trn e-payments in Q3’19 pay By Omobayo Azeez As the end 2019, total mobile money services surpassed one billion accounts globally, the Global System for Mobile Communications Association (GSMA) has revealed. According to the newly unveiled annual ‘State of the Industry Report on Mobile Money’ by the body, 2019 marked a major […]
Lagos Fintech Week 2020 delayed till September over COVID-19
Omobayo AzeezMarch 19, 2020
By Omobayo Azeez The organiser of Lagos Fintech Week has postponed the 2020 edition of the weeklong activity of fintech events due to the outbreak of the Coronavirus (COVID-19). Covid-19 has been declared as a global pandemic by the World Health Organization (WHO) and every party, ranging from public to private sectors is avoiding giving […]
FG’s digital economy agenda on track, Pantami assures
Omobayo AzeezMarch 11, 2020
…As NCC, partners commence capacity building on ICT regulation By Omobayo Azeez The National Digital Economy Policy and Strategy (NDEPS) unveiled by President Muhammadu Buhari on November 28, 2019, is well-conceived and on track, Isa Pantami, minister of communications and digital economy has said. He added that the digital economy agenda was built on objectives […]
Nigerian FinTech majors PARTNER to deepen e-payment in Africa
Omobayo AzeezMarch 10, 2020
By Omobayo Azeez Two of Nigeria’s biggest fintech players, Paga and Flutterwave, have partnered to simplify and deepen payment solutions in Nigeria and across the African continent. The collaboration involves Flutterwave, an international merchant payment service, adding Paga as a payment option on its platform, thereby giving the latter’s customers the opportunity to pay a […]
Carbon supports startup techs in Nigeria, others with $100,000 disrupt fund
Kenneth AforFebruary 19, 2020
Kenneth Afor Carbon, a leading FinTech firm in Africa has introduced Disrupt Fund with a $100,000 grant to enable young technology entrepreneurs in the continent kick-start their innovative inventions without delays. According to a statement issued by Carbon, it will invest the sum of $10,000 to any startup with five percent equity and provide access […]
Nigeria needs ICT to conquer insurgency, emergencies, says Danbatta
Omobayo AzeezFebruary 5, 2020
By Omobayo Azeez Nigeria must leverage and appropriately deploy telecoms and ICT resources in the fight against insurgency and to contain other emergencies, said Umar Danbatta, the executive vice chairman (EVC) of the Nigerian Communications Commission (NCC). He said this reality explained commission’s insistence on compliance by all stakeholders to the guidelines governing SIM […]
FinTech Partners: Nigeria miles away from financial inclusion
Businessam StaffDecember 13, 2019
Nigeria’s journey to becoming the Giant of Africa, especially in financial inclusiveness, is farther than it appears, as its payments market fell behind other African nations like Kenya, and South Africa in FT Partners’ FinTech Industry Research; only 6% of the nation’s bankable population has mobile money accounts. The report, rated the most populous black nation behind Kenya’s 73% and South Africa’s 19%. Also, Nigeria’s Smartphone penetration (27%), accounts in financial institutions (39%) and debit/credit card ownership (35%) all fell behind Kenya’s 60%, 56%, […]
Nigerians’ apathy to .ng denies economy potential revenue
Omobayo AzeezNovember 12, 2019
By Omobayo Azeez Low registration for Nigeria’s top level domain name, .ng, is responsible for loss of money to foreign economies by the Nigeria state, Business A.M has gathered. This notion persists even has Nigerian identity on the internet, .ng, rose by 18 per cent year-on-year to hit 149,508 as at the end […]