Tag: nigeria

Google hits 10 Million Internet Users in Nigeria

Internet, Mobile, social media
Google has disclosed the geometric progressions in the number of internet users in Nigeria, as about 10milion visited the internet for the first time in 2014. Reports theGuardian Caesar Sengupta, vice president, Product Management at Google, made the disclosure during AndroidOne launch in Nigeria, adding that, globally, there are 3billion people connected online and the number is expected to surpass 4billion by 2017. According to him, "Nigerians are not left out in the internet revolution as finding by Google showed that 10million Nigerians came online, for the first time, in 2014". He added that Google sees Nigeria's internet economy as real with enticing, data-friendly and life-impacting applications such as Trupper, Okada Books, Gidimo, Afrinolly, among others changing the way face soc...

Nigeria ICT Turmoil: Telecommunication dominance wars brewing in Africa

Broadband, Business, Internet
African telecommunication companies have hit the headlines hard this week as MTN Nigeria and the Nigerian Communications Commission (NCC) are set to face Etisalat in a Federal High Court battle in Lagos. Reports itnewsafrica.com The battle commenced after Etisalat claimed that the NCC had allegedly given its competitor MTN Nigeria a market advantage over it. MTN joins NCC in the suit as co-respondent. Etisalat is seeking a review of a decision by NCC to allow a 30 percent differential between MTN’s off-net and on-net retail mobile voice tariffs. According to Etisalat, this differential enables MTN to create a ‘calling club’, an example of which is its ‘Family and Friends’ promotion, which offers a rate of NGN 0.11 per second to eight MTN subscribers and two non-MTN subscribers. Etisal
Future of African banking is mobile

Future of African banking is mobile

Business, Internet, Mobile
“In the next three to five years the vast majority of our transactions will be performed on smart-mobile devices.” Retail banking is experiencing a seismic shift in customer behaviour thanks to the digital revolution that continues to effect fundamental changes in the way businesses and individuals transact. Nowhere is this metamorphosis in customer behaviour more profound than in Africa. While much has been written about the rise of Africa’s middle class, which is expected to reach half a billion people by 2030, less is known about the extraordinary growth in mobile and broadband penetration on the continent. An Ericsson Mobility report shows that mobile subscriptions in sub-Saharan Africa will rise to 930 million by the end of 2019, from 635 million at the end of 2014. To put that gr

UK Ditches Cash For Cards, Africa Continues to Expand Mobile Money

Business, Mobile
2014 marks the first time that UK ‘non-cash’ payments outnumbered cash payments, in a total of 18 billion transactions. In its report, the UK Payments Council analyzed how cash was used by consumers in 2014 and how it could evolve in the next ten years. All in all, cashless payments in the UK continued their steady albeit slow rise in 2014, with 52% of all payments made via mobiles, the Internet or through debit cards and cheques. With Scandanavian countries, the UK is one of Europe’s fastest cashless growing societies while the rest of the EU tries (or not) to play catch up. Always at the forefront of innovative payment services, the UK has, for instance, introduced contactless payments already in 2007. Initially limited at £10, the contactless payment service was recently bumped up to £3

Konga the Nigerian Online Retailer To Become Africa’s Biggest Internet Company

Business, Internet, Mobile
Nigeria’s leading online retailer, Konga is set to become Africa’s biggest internet company as an investment of about $60 million is set to be injected into the company. Reports Ventures Africa According to a source close to the retailer, Konga’s value will rise to about $190 million post the capital injection. But while the new investment speaks volume of investors’ confidence in Konga, founded by Sim Shagaya who also owns DealDey, and online shopping and daily deals,major rival in the online retail space in Nigeria, Jumia may not be having the best of times. Its mother company, Rocket Internet had its IPO held last week, but the company’s shares had already fallen 13 percent on the Frankfurt Stock Exchange. The fall regardless, Rocket’s IPO remains the largest German tech IPO in the p

Nigerian bank IT worker sought after $40m cyber heist

Business, Cyber Security, Internet
A Nigerian IT worker is wanted by police after a major cyber-heist at the bank where he was employed. Reports a Nigerian blog 38-year-old Godswill Oyegwa Uyoyou is alleged to have brought a team of other conspirators onto bank premises disguised as maintenance workers, and assisted them in accessing bank computer systems. Once in, they proceeded to initiate transfers amounting to 6.28 billion Nigeria Naira ($40 million, £23.5 million), with the money believed to have ended up in bogus accounts controlled by the gang. They were apparently in the process of withdrawing funds when their activities were spotted. Local reports kept the name of bank quiet, describing it only as "a new generation bank", but others have named it as a branch of Skye Bank, a Nigeria-based banking group operati

Nigeria launches national electronic ID cards powered by MasterCard

Nigeria's president has formally launched a national electronic identity card, which all Nigerians will have to have by 2019 if they want to vote. Reports BBC Goodluck Jonathan received the first biometric card which can also be used to make electronic payments. MasterCard is providing the prepaid payment element and it hopes millions of Nigerians without bank accounts will now gain access to financial services. An attempt to introduce national ID cards in Nigeria 10 years ago failed. Analysts blame corruption for its failure, and say the same problems may stymie the new e-ID scheme. 'Breaks barriers' "The card is not only a means of certifying your identity, but also a personal database repository and payment card, all in your pocket," President Jonathan said at the launch in the cap...

Funding scheme set to empower women in ICT in Africa

Internet, Mobile
[KIGALI]  A project which was launched last year in Africa is set to empower young women and girls in computer science and help them become global leaders in information and communication technology (ICT), experts say. The project, called ‘Seed Fund for Women + Girls in Computer Science’, is  aimed at extending technological entrepreneurship programmes and competition for young girls and women below 20 years old to set up technological enterprises, says Beth Garriott, a senior programme officer at Women Enhancing Technology (WeTech), the consortium managing the project. The programme’s second seed fund application was opened this week (10 August), according to the US-headquartered Institute of International Education (IIE), which leads WeTech. “WeTech [supports] a growing movement of in

DEMO Africa 2014 application deadline extended to June 22nd

Internet, Mobile, social media
 Africa’s startup launchpad, DEMO Africa has announced it’s keeping the application window open for one more week from Sunday June 15 to Sunday June 22, 2014 following numerous requests by start-ups to have more time to meet the DEMO Africa application expectations. Reports Techmoran.com Good news! Deadline extended to June 22nd! Apply to launch your startup at DEMO Africa 2014 http://t.co/FDJXGXyK60 http://t.co/rjmr3QvlSm — DEMO Africa (@DEMOAfrica) June 16, 2014 Startups can apply online on VC4Africa here. This move comes even as curtains fall on DEMO Africa’s innovation tours 2014. The tours which have been concluded in Lagos, Nigeria at the iDEA hub, have seen the DEMO Africa team visiting various countries including Uganda, Tanzania, Zambia, Zimbabwe and Ghana. This provided an opp

Nigeria trounces South Africa as Africa’s largest economy

According to Financial Times, Nigeria overtook South Africa on Sunday to become Africa’s largest economy and 26th largest in the world after the government released updated figures that nearly doubled estimates for gross domestic product. As a result of the statistical revision, Nigerian GDP for 2013 was $509bn, 89 per cent larger than previously stated for last year. The change was made by bringing forward the base year for calculations to 2010 from 1990, when the structure of the economy was very different and services such as banking and telecoms had barely taken off. Companies ranging from Nestlé and Standard Bank to Heineken and MTB have already poured millions of dollars into Nigeria but foreign businessmen and analysts said the revision could serve as a catalyst for further investme