TechPression

Category: Incubation

  • Nigeria launches Skillnovation to digitally equip 3 million MSMEs

    Nigeria launches Skillnovation to digitally equip 3 million MSMEs

    The Nigerian Government has unveiled the Skillnovation programme, as a stride towards advancing Nigeria’s digital economy. This initiative is set to underpin the country’s information technology revolution, extending the reach of economic and social interactions while catalysing productivity growth.

    Read also: Sama plans to train 2000 youths, women with AI skills

    A Digital Transformation Vision

    The Skillnovation Programme aligns with the Federal Government’s vision for a digitally empowered and economically prosperous Nigeria. At its core, this program aims to equip Micro, Small, and Medium-sized Enterprises (MSMEs) with the crucial digital skills they need to thrive, subsequently fostering job creation, economic growth, and an improved quality of life for millions of Nigerians.

    To realise these objectives, the Skillnovation Programme will establish 15 state-of-the-art ICT centres strategically across Nigeria. These centres will serve as hubs for individuals and businesses alike, offering access to cutting-edge digital training, resources, and support.

    The first phase of this ambitious program focuses on the states of Katsina, Anambra, Borno, Lagos, Oyo, and Kano. The second phase, in due course, will include Delta, Kaduna, Ogun, Bauchi, Kwara, and Ekiti States, ensuring widespread access to digital empowerment.

    During the launch ceremony at the Banquet Hall of the Presidential Villa in Abuja, Vice President Kashim Shettima lauded the Skillnovation Programme as a transformative initiative ushering in a new era of digital empowerment for Nigerians. He emphasised President Bola Tinubu’s commitment to supporting small businesses across Nigeria, a move necessitated by the rapid changes brought about by disruptive technologies and the evolving landscape of the fourth Industrial Revolution.

    Vice President Kashim Shettima at Nigeria's Skillnovation launch

    Vice President Shettima articulated the initiative’s purpose, stating, “This initiative is a response to the evolution of the modern business environment, an acknowledgment that digital skills have become the cornerstone of economic ease and expansion.”

    Unlocking Nigeria’s Business Potential

    The Vice President highlighted the immense potential Nigeria possesses, with its burgeoning MSME sector comprising nearly 40 million entities. He noted that the Skillnovation Programme aims to unlock this vast potential by providing the necessary tools and skills for MSMEs to thrive and compete on the global stage.

    He assured that the Skillnovation Programme would leave no one behind, regardless of age, gender, or disability, emphasising inclusivity as a core principle. In addition, he announced the proposed single-digit loan schemes for MSMEs, with a particular focus on youth, women, and persons with disabilities, in collaboration with the Bank of Industry and other stakeholders.

    Private Sector Partnerships and Nationwide Impact

    Emphasising the importance of partnership, Mr. Temitola Adekunle-Johnson, the Senior Special Assistant to the President on Job Creation and MSMEs, stressed that the challenges facing Nigerians cannot be addressed by the government alone.

    Mr. Moruf Oseni, Managing Director of Wema Bank, praised the President and Vice President for their dedication to empowering young Nigerians. He announced the establishment of skills training centres across 17 states, beginning with Lagos and Borno. These centres are poised to directly impact 2 million youths and 1 million small businesses across the participating states.

    Leveraging Youth Enthusiasm in Technology

    Mr. Bosun Tijjani, Minister of Communications and Digital Economy, expressed confidence that President Tinubu’s administration would harness the enthusiasm of Nigerian youths in the technology sector to elevate Nigeria as a global power in the industry. He called on private sector players to collaborate closely with the government to achieve job creation objectives.

    Governor Ahmad Aliyu of Sokoto State pledged the state government’s unwavering support for the success of the Skillnovation Programme.

    The launch event saw the presence of key dignitaries, including the Ministers of Agriculture, Sen. Abubakar Kyari; Labour and Employment, Hon. Simon Lalong; Deputy Governors of Borno, Umar Kadafur; Kaduna, Hadiza Balarabe; Anambra, Onyeka Ibezim; Jigawa, Aminu Usman, and heads of government agencies, among others.

  • NITDA to bridge digital divides, promote digital literacy in Nigeria

    NITDA to bridge digital divides, promote digital literacy in Nigeria

    In a resounding proclamation, the National Information Technology Development Agency (NITDA) has embarked on an ambitious mission to bridge digital divides, promote digital literacy, and ensure equitable access to technology throughout Nigeria.

    At the heart of this transformative vision is Mr Kashifu Abdulahi, the Director-General of NITDA, who unveiled this initiative during a groundbreaking Stakeholders’ Engagement and Eco-System Development Programme held in Enugu. Let’s explore this initiative in detail, highlighting key components and its potential impact.

    Mr. Kashifu Abdulahi, represented by Mr. Babajide Ajayi, underscored the paramount importance of inclusivity in the journey toward digitalization. He proclaimed that true digital success hinges not solely on the achievements of a select few but on the advancement realized by all.

    Digital Inclusion: NITDA believes that digitalization should benefit every Nigerian, regardless of their location or background. The agency is committed to ensuring that technology touches the lives of every citizen.

    Read also: Digital Innovation promotes better lives for Africans – NITDA

    Empowering Women in Digital

    NITDA is diligently crafting the National Digital Equality Strategy for Women (NDESW), a groundbreaking initiative aimed at ensuring that women enjoy equitable access and opportunities in the digital realm. This initiative aims to empower women to participate fully in the digital economy.

    The NDESW recognizes the importance of gender balance in the digital landscape. It aims to create opportunities for women to thrive in tech-related fields and entrepreneurship.

    Additionally, the National Digital Skills Strategy (NDSS) is charting a strategic roadmap to foster digital literacy and talent development throughout Nigeria. This strategy recognizes the need to prepare the workforce for the digital age.

    NITDA’s commitment to digital literacy aligns with the evolving needs of the job market, ensuring that Nigerians are equipped with the skills required for the digital era.

    Digitalization as a Transformative Force

    Mr. Abdulahi passionately described digitalization as a transformative force that integrates digital technology into every facet of society. It engenders monumental changes across industries and fuels waves of innovation, fundamentally altering the way we conduct business, manage our health, educate ourselves, and even govern.

    NITDA envisions a Nigeria where digitalization revolutionizes industries, making them more efficient and competitive on a global scale.

    Collaboration and Partnerships

    Mr. Abdulahi emphasized that NITDA’s doors are wide open to partnerships that pave the path for a digitally empowered future. Collaboration with stakeholders is essential for achieving these ambitious goals.

    NITDA encourages a collaborative approach, bringing together government, private sector, academia, and civil society to drive digital transformation collectively.

    Addressing the assembly, Mr. Abdulahi implored the stakeholders to seize the reins of leadership and become the architects of a future where opportunities abound, boundaries are obliterated, and every entrepreneur’s vision takes root and flourishes.

    NITDA’s vision also extends to fostering an environment where innovation thrives, empowering entrepreneurs to drive economic growth.

    Google’s New West Africa Director makes presentation to NITDA

    Enugu State’s Digital Vision

    In a stirring keynote address, Gov. Peter Mbah unveiled Enugu State’s audacious vision to rank among Nigeria’s top three states, not only in trade, investment, and industry but as a formidable digital powerhouse. He applauded NITDA’s mission, which aligns seamlessly with the state’s vision and recognized NITDA’s invaluable role as a catalyst in fostering a digital Nigeria.

    Enugu State’s commitment to digitalization is emblematic of the collaborative spirit that NITDA encourages among states to drive digital progress.

    Dr. Micheal Edeh, State Chairman of the Nigeria Computer Society (NCS), Enugu State Chapter, expressed profound appreciation for NITDA’s engagement with technology stakeholders. This event provided a vital platform for answering critical questions on policies and forging connectivity between stakeholders and NITDA officials, opening new vistas of possibilities in the digital landscape.

    NITDA recognizes the importance of engaging with technology experts and organizations to ensure informed decision-making and effective policy implementation.

    In a resounding symphony of digital promise, NITDA’s unwavering commitment to bridging divides and nurturing innovation heralds a new era of possibilities for Nigeria, where the digital future is a beacon of hope for all. This bold vision not only aims to transform the nation’s digital landscape but also empowers every Nigerian to embrace the opportunities and challenges of the digital age.

  • Bill and Melinda Gates Foundation rewards two Nigerian AI innovators 

    Bill and Melinda Gates Foundation rewards two Nigerian AI innovators 

    The Bill and Melinda Gates Foundation has awarded accolades to four groundbreaking projects from Nigeria, designating them as winners of its recent AI solutions award. 

    These projects stand out among nearly 50 grant recipients who are diligently crafting AI-driven solutions to address critical global health and development challenges within their communities. These innovations leverage AI-enabled large language models (LLMs) to pioneer transformative changes in diverse sectors.

    Guided by a mission to alleviate global disparities, the Bill & Melinda Gates Foundation issued a call for proposals directed at researchers and innovators hailing from low- and middle-income countries (LMICs). The foundation recognizes the potential of AI-driven LLM technology to tackle formidable health and development issues. To realize this potential, the active participation of researchers from LMICs in the design, application, and testing of this evolving technology is vital.

    Read also: African Startup League aims to empower Africans with $1 million prize

    Advancements in technology often lead to uneven benefits due to existing patterns of discrimination, inequality, and bias,” noted Juliana Rotich, co-founder of iHub, an incubator for technology entrepreneurs in Nairobi. Rotich, who has agreed to serve on the foundation’s new AI Ethics and Safety Advisory committee, emphasized the importance of responsible AI development. She stressed that AI solutions must be locally inspired, developed ethically, and address the needs of end users.

    A Global Initiative for Change

    Bill Gates himself revealed that the foundation received a staggering 1,300 proposals, with over 80% originating from LMICs. From this vast pool of ideas, approximately 50 projects were selected from 17 LMICs, aligning with the foundation’s objective of nurturing a global innovation ecosystem in areas where its impact can be most profound.

    Each chosen project will receive funding of up to US$100,000, amounting to a total of US$5 million in grants.

    NITDA’s Innovation Ecosystem Initiatives Entail 1500 IT Centers

    Nigerian Pioneers of AI for Social Impact

    Among the celebrated projects are four from Nigeria, showcasing the country’s dedication to harnessing AI for positive change:

    • Integration of a Large Language Model (LLM) for Women Centered Care (Lagos): Nneka Mobisson of mDoc Healthcare plans to enhance their virtual self-care coaching chatbot, Kem, with ChatGPT-4. This integration aims to improve the chatbot’s accuracy and its capacity to provide evidence-based information to low-income women of reproductive age in Nigeria.
    • A Large Language Model (LLM) Tool to Support Frontline Health Workers in Low-Resource Settings (Kano): Nirmal Ravi of EHA Clinics Ltd. will develop and test scalable methods for deploying LLMs, such as ChatGPT-4, to offer “second opinions” to community health workers (CHEWs) in low- and middle-income countries (LMICs).
    • Leveraging a Large Language Model (LLM) for Financial Inclusion (Lagos): Olubayo Adekanmbi of Data Science Nigeria will pioneer a multilingual, voice-based chatbot that simplifies complex financial concepts and provides tailored financial support to informal traders, women business owners, and smallholder farmers in Nigeria.
    • AI for Education Delivery: Adaptive Learning Content for Rural Students (Lagos): Chinazo Anebelundu of DSN Ai Innovations Limited intends to create a STEM-focused multimedia learning platform utilizing GPT and DeepBrain text-to-video AI. This platform is designed to engage rural students and enhance their understanding of Science, Technology, Engineering, and Mathematics subjects.

    These innovative projects underscore Nigeria’s commitment to harnessing AI for social impact, while also contributing to the foundation’s overarching mission of addressing global challenges with technology-driven solutions.

  • Apple Pay, now available in Morocco

    Apple Pay, now available in Morocco

    Apple Pay is now officially available in Morocco, providing locals and tourists alike with another payment option. 

    Two of Morocco’s largest banks, Crédit immobilier et hôtelier (CIH) and Crédit Agricole Group of Morocco (CAM) Bank have officially joined the Apple Pay network, as confirmed by a recent update to Apple’s regional website. 

    With this release, Apple Pay is now available in Morocco to become have access to Apple Pay’s services., making it the second African nation to do so after South Africa. Apple Pay is now available to the clients of one Moroccan bank, allowing them to make private and secure electronic payments. Apple Pay will also be available for use with online purchases.

    Fortunately, using Apple Pay won’t need having the latest and most prominent iPhone model in Morocco. Apple Pay is compatible with the Apple Watch Series 1 and later models and any iPhone with Face ID or Touch ID (excluding the iPhone 5s).

    The CIH Bank Twitter page also shared the news that Apple Pay is now available for iPhone and Apple Watch customers.

    However, the tweet did not specify when the service would be available.

    Read also: Binance introduces Apple Pay and Google Pay options

    Providing new contactless payment methods 

    With Apple Pay, users can make payments swiftly and securely. Users with an iPhone or Apple Watch that supports Apple’s Wallet software may quickly and conveniently connect their Mastercard credit cards and bank cards. This paves the way for them to use contactless payment methods at any terminal that accepts them. In addition, Apple Pay may be used to make purchases on a wide variety of app stores and online stores.

    Adding a debit or credit card to Apple Pay is a straightforward process. They may add their cards by opening the Wallet app, tapping the “+” symbol in the upper right corner, and then following the on-screen instructions. 

    Users of iPads equipped with Touch ID may add cards to applications by navigating to “Settings” > “Wallet & Apple Pay.” Users may customise their Watch experience by adding cards using the iPhone app. It’s important to note that only smartphones running iOS 12 or later have access to these features.

    After launching in the United States in 2014, Apple Pay continued to spread internationally in the following years. Users in certain locations across the globe now have access to Apple Pay Express Transit, which enables fast payments without requiring authentication using Face ID or Touch ID.

    Tap to Pay on iPhone is an additional function that complements the core Apple Pay service by letting users accept payments with only their iPhone.

  • Egyptian fintech Flash secures $6 million in seed round

    Egyptian fintech Flash secures $6 million in seed round

    Flash, Egypt’s new cashless payments app, has secured $6 million in a seed round to speed up product development and the acquisition of customers and businesses in the region. 

    The round was led by Addition with participation from fintech venture capital firm Flourish Ventures and other strategic angel investors. Flash, in conjunction with Banque Misr, has been authorized by the Central Bank of Egypt to function as a technical payment aggregator.

    In Egypt, individuals and companies may use Flash, a payment software backed by the Central Bank of Egypt, to make cashless payments using a scan-and-pay service. By linking their current bank card or digital wallet to the app only once and scanning a QR code supplied by a company, either in-store or upon delivery, users may make purchases using their mobile devices. 

    The requirement for POS systems or other forms of technological integration is eliminated, allowing businesses to take payments directly from customers. Flash was formed in 2021 by former Uber employees Erik Gordon and Sherine Kabesh.

    Read also: Bahraini startup, Unipal secures $500,000 for Saudi expansion

    The mobile app offers solutions for transactional issue

    Mordor Intelligence reports that the cash-on-delivery payment method is used for almost 80% of internet purchases in Egypt. One reason for this is that customers would rather wait until they get their order before making a payment; however, many stores do not provide a point-of-sale payment option upon delivery. 

    As a result, the “Flash on Delivery” system was created, wherein clients could easily scan a QR code provided by a delivery employee at the door. Flash on Delivery will soon be accepted by a wide variety of companies, including Homzmart, Rabbit Mart, Mori Sushi, and many more. 

    “As a team, we are excited and proud to be launching a new contactless payment method in Egypt,” Erik Gordon, Founder & CEO of Flash, stated in reference to the fundraising effort. Our mobile application eliminates transactional issues for organizations searching for a simpler solution than the POS”. 

    “Our mission is to streamline the payment process for all parties involved. In addition, we are thrilled to be providing additional tools to assist customers in making wiser purchases. We are humbled by this seed investment, which will enable us to invest in our product and business & customer acquisition, and utilise the valuable insights of our experienced investment partners to advance the economy of Egypt.”

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    Users can use the Flash app to purchase

    Designed to aid Egyptians in making the switch from cash to digital payments, Flash is in line with the Central Bank of Egypt’s financial inclusion goal (2022-2025). With the blessing of Egypt’s Central Bank, users of the Flash app can make purchases from the increasing number of merchants participating in the app’s network with complete peace of mind. The POS system or other technological links are unnecessary for businesses to take payments from app users directly.

    “We are thrilled to have obtained a technical payment aggregator approval from the Central Bank of Egypt in partnership with Banque Misr,” Sherine Kabesh, Co-Founder of Flash, stated in reference to the CBE’s approval.”

    “This further solidifies our dedication to expanding the cashless environment, launching innovative new goods, and broadening our selection of digital payment options. It enables us to reach millions of micro-entrepreneurs with our digital financial solutions, which in turn stimulates economic expansion and promotes Egypt’s digital economy advance.”

    The Flash team has developed a wide network to influential members of the ecosystem as well as stakeholders and well-known investors from across the world. As part of its growth strategy, Flash is seeking to expand strategic roles in its Engineering and Product teams.

  • World Economic Forum recognizes SA startup Omnisient as tech pioneer

    World Economic Forum recognizes SA startup Omnisient as tech pioneer

    The World Economic Forum has identified seven African businesses, including Omnisient, as being at the forefront of technological innovation.

    The South African data analytics and financial technology company Omniscient was awarded the title of “tech pioneer” by the World Economic Forum.

    The Technology Pioneer community was established in the year 2000 and is made up of early-stage firms from all over the world. These companies are involved in the design, development, and deployment of new technologies and breakthroughs and are on the verge of having a big impact on both business and society. 

    Omnisient has created a method that protects consumers’ privacy while allowing financial institutions to access new sources of consumer data. This method can be used by financial institutions to evaluate the creditworthiness of persons who do not have a credit history. 

    The new business venture asserts that the method safeguards the privacy of customers and eliminates the risks and difficulties that are typically involved with the exchange of customer information.

    As a Technology Pioneer, Jon Jacobson, CEO of Omnisient, will be asked to participate at the World Economic Forum, where he will collaborate with other world leaders to help address important issues facing both industry and society. Throughout the course of the year, Technology Pioneers will be invited to participate in various events and conversations hosted by the Forum. These events and talks will bring together influential stakeholders from both the public and private sectors.

    Read also: Russia-Africa Summit to hold in July at St Petersburg Expo Forum 

    Africa has more startups in the competition

    This year’s technology pioneers come from 31 different markets, with the United States and China leading the pack with 29 and 12 startups, respectively. 

    Africa is the only other continent to have more than seven startups represented in the competition. Another South African company has made the list this year: Dove Air, which utilizes cutting-edge technology known as UAM (Urban Air Mobility) to assist in the distribution of relief and the preservation of maritime habitats.

    In November of the previous year, Omnisient successfully completed a funding round for an expansion that was kept confidential. Investors that participated in this round included the retail chain company Shoprite and Buffet Investments.

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    Remarks from the CEO of Omnisient

    “Our platform has already enabled banks in South Africa to access anonymised shopper behaviour data from a leading retailer and thereby helped millions of people obtain a ‘good risk’ credit rating who would have previously been denied credit due to their lack of credit history,” said Jacobson, CEO of Omnisient. “We are excited to share what we’ve learned and achieved in our local market with members of the Forum’s Centre for Financial and Monetary Systems to enable similar financial inclusion breakthroughs in new markets and to find new ways of using data in a responsible and ethical manner to solve some of the world’s most pressing problems.”

    “We’re excited to welcome Omnisient to our 2023 cohort of Technology Pioneers,” remarked Verena Kuhn, Head of Innovator Communities at the World Economic Forum. “Omnisient and its fellow pioneers are at the forefront of innovation and disruption needed to help us solve the world’s most pressing issues. We look forward to their contribution to the Forum’s content work that brings together the public and private sectors to tackle these global issues.”

  • CBN emphasizes eNaira as digital payment option for Diasporas remittances

    CBN emphasizes eNaira as digital payment option for Diasporas remittances

    The Central Bank of Nigeria (CBN) has taken a significant step in advancing its efforts to liberalize the payout of diaspora remittance with eNaira. 

    In a circular titled “Operational Framework for eNaira Payment Option to Recipients of Diaspora Remittances,” dated June 15, 2023, the CBN announced the introduction of its digital currency, the eNaira, as a payment alternative. 

    This move aims to enhance financial inclusion, reduce transaction costs, and improve payment efficiency. This article explores the guidelines and benefits of the eNaira for diaspora remittances.

    Read also: CBN educates states, institutions on eNaira

    Guidelines for eNaira Payment Option

    To facilitate the payment of diaspora remittance proceeds to recipients who opt for the eNaira, the CBN has provided specific guidelines. 

    The International Money Transfer Operators (IMTOs) are required to apply for a one-time “No-Objection” from the CBN to pay out in eNaira. Additionally, the IMTOs must transfer the foreign currency to designated CBN accounts. 

    Importantly, the receipt of diaspora remittances in eNaira remains optional, and recipients can still choose the traditional dollar payout.

    Payment Procedure

    Under the eNaira framework, IMTOs are mandated to open merchant wallets through the CBN and pre-fund them with foreign currency. Subsequently, the CBN will credit the IMTO merchant wallets with the eNaira equivalent of the pre-funded foreign currency. 

    To initiate a diaspora transfer, the sender provides the beneficiary’s wallet details to the chosen IMTO. The IMTO then accesses the eNaira web wallet portal, debits its merchant wallet, and credits the beneficiary’s wallet with the eNaira equivalent of the foreign currency based on the I&E window rate. 

    Alternatively, IMTOs can integrate with the eNaira portal via API provided by the CBN for seamless transfers.

    Advantages of eNaira for Diaspora Remittances

    The introduction of the eNaira brings numerous benefits to the diaspora remittance ecosystem. 

    Firstly, it reduces the cost of financial transactions by eliminating intermediaries and associated fees. 

    Secondly, it enhances the efficiency of payments, enabling faster and more secure transactions. 

    The eNaira also aligns with the broader goal of financial inclusion by providing a convenient and accessible digital payment option for recipients. Furthermore, the initiative promotes a cashless economy and complements previous monetary policies and existing payment platforms.

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    eNaira and its Impact

    Unveiled on October 25, 2021, by former President Muhammadu Buhari, the eNaira is a digital currency aimed at driving a more cashless, inclusive, and digital economy. 

    As a legal tender in Nigeria, the eNaira holds the same value as the physical Naira and can be exchanged at a rate of 1 naira to 1 eNaira. 

    By supporting a resilient payment system ecosystem, the eNaira encourages financial inclusion, reduces cash processing costs, facilitates welfare interventions, and improves revenue and tax collection. Moreover, it streamlines the remittance process, benefiting both senders and recipients.

    Major stride towards financial innovation

    The Central Bank of Nigeria’s introduction of eNaira as a digital payment option for diaspora remittances signifies a major stride towards financial innovation. The guidelines provided in the circular facilitate a smooth transition to eNaira payments, while the benefits include reduced transaction costs, enhanced payment efficiency, and increased financial inclusion. As Nigeria embraces the eNaira, it is poised to foster a more resilient, inclusive, and digitized economy, driving progress in the nation’s financial landscape.

  • 10Alytics rewards winners with $1000 in Data Hackathon

    10Alytics rewards winners with $1000 in Data Hackathon

    10Alytics has rewarded three winners with a $1000 cash prize in the grand finale of its exclusive Data Analytics Hackathon staged over the weekend.

    On Saturday and Sunday, May 13 and 14, respectively, the Data Analytics Hackathon was held online, and participants came from a variety of locations all over the world. The event was open only to those who had previously graduated from the academy or are now enrolled in its courses.

    Adeiza Suleman, the founder of 10Alytics, began by introducing the panel of judges by naming Michelle Conway, the Lead Data Scientist at Lloyds Banking Group; Sadeeq Akintola, the Smart Analytics Customer Engineer at Google; Olamide Jolaoso, the Head of Data & Analytics at Wema Bank Nigeria; and Sebastian Obeta, a Data Scientist and Ethics Researcher.

    He mentioned that all of the registered participants were allotted 10 hours to work on a case study that was to be submitted, and after that period of time, only 10 persons were chosen to go to the final round.

    As Adeiza was explaining the guidelines for the competition, she mentioned that there would be five factors that would be used to select the winners. He stated that the participants were evaluated according to their level of comprehension of the case study, their eloquence, their ability to manage their time effectively during presentations, their capacity to react to questions with convictions, and the calibre of the insights they produced.

    Rita Ozoh came in first place with a score of 89%, followed by Muhammad Suleman in second place with a score of 84%, and Emmanuel Fagbenle and Olayinka Akerekan tied for third place with a score of 83%. 

    Read also: Nigerians, other Africans win the Data Analytics creative projects

    The primary objective of the Data hackathon 

    Rita Ozoh came in first place with a score of 89% during her speech at the event, Efemena Ikpro, who is also the co-founder of 10Alytics, highlighted that the hackathon is an international competition that provides participants with a platform on which to practise and improve their talents.

    According to him, the primary objective of the hackathon is to demonstrate to people in a hands-on setting how data can be utilised to make decisions. In addition to this, the hackathon is designed to aid participants in developing their confidence and in making the transition from the classroom to the working world.

     

    Remarks from the winners

    Rita Ozoh, who came in first place, showed her gratitude to the event’s organizers in her remarks by saying,

     “I didn’t expect this. I did a night shift on Friday and I planned to participate; but when I joined, I realized that there were a lot of things that I needed to do and my eyes were really heavy. I was contemplating going to sleep and join next time. But I was able to battle it and I became more interested and wanted to finish it.

    “When the rules of the competition were being read out, it was as if my heart wanted to sink into my stomach. Usually, I invite my Mum for things like this, but I didn’t tell her in case something goes wrong. So, that shows I didn’t see this coming and I’m very happy and I appreciate 10Alytics for giving me this opportunity. I’m very grateful.”

    In a similar vein, Olayinka Akerekan, who came in third place and is also a working pharmacist disclosed that he did not anticipate making it to the final stage of the competition.

    “I currently practice as a pharmacist in a hospital. Yesterday, when I received the data set, I was very sick and on medications; but I had resolved to be a part of the hackathon. As I was using drugs, I was writing my codes. I felt it was better to submit and not be selected, than to not make any effort. I’m better than I was yesterday; I didn’t expect to make it this far,” he said.

    The judges extended their congratulations to the victors and praised everyone else who participated for the efforts that they put in.

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    Previous editions of the Data Analytics hackathon 

    Despite most participants being sick or tired, Sadeeq, a judge, was pleased with the results.

    Michelle said Lloyds Banking Group would analyse hackathon applicants for data-related roles in line with 10Alytics’ mission of assisting people get computing jobs.

    Olamide recommended entrants use their hackathon participation to land tech jobs instead of waiting for a formal career, while Sebastian praised 10Alytics for a platform and stated he was delighted to judge.

    The Data Analytics hackathon had three previous editions: October 2021, May 2022, and December 2022. Sadeeq was satisfied with the outcomes and performance despite most participants being unwell or sleepy.

  • Awacash obtains microfinance banking license from Nigeria

    Awacash obtains microfinance banking license from Nigeria

    Following its earlier acquisition of a money lending licence, the fintech platform Awacash has recently been awarded a microfinance bank licence by the Central Bank of Nigeria. 

    This success marks a key milestone following the platform’s earlier purchase of a money lending licence. This achievement demonstrates Awacash’s unwavering dedication to enhancing the banking experience in a way that is uniquely suited to the needs of independent artists and freelancers.

    Awacash’s mission is to revolutionise the traditional banking experience by providing borderless payments and seamless financial management. This will enable individuals to exert an unprecedented level of control over their financial situation. Awacash offers a full range of banking services, each of which is tailored to meet the specific needs of independent creators and freelancers. 

    The revolutionary credit-on-the-go offering, which provides customers with quick access to credit at reasonable interest rates, is the product’s most noteworthy characteristic. Creators and freelancers are provided with an unrivalled level of financial support, which enables them to confidently pursue their passions, build their enterprises, and embrace new chances.

    Read also: Nigeria’s central bank (CBN) governor under investigation after suspension

    Awacash promises to meet customers’ needs

    Awacash is aware of the challenges that the typical Nigerian has when trying to obtain loans and effectively manage their finances. 

    According to Dayo Okunfolami, Co-Founder of Awacash, the primary objective of Awacash is to simplify their lives by offering an on-demand banking experience that is tailored to meet their ever-evolving needs.

    Awacash was created with the intention of meeting the needs of its customers. Bonaventure Igboanugo and Oladele Dada are also considered to be among the company’s co-founders. The accomplishment of this strategic goal by Awacash drives the firm ahead, giving it the ability to broaden the range of services it provides and to strengthen its standing within the rapidly evolving fintech market.

    The founders have a good track record of developing numerous outstanding organisations, with some of them being the founders of the well-known software development business KreatengAfrica, which also has an established track record. In addition to effectively delivering software solutions to reputable organisations and microfinance banks across Africa, KreatengAfrica has also successfully led significant technology boot camps on the continent. 

    The imaginative team at Awacash has capitalised on their successes in developing mobile wallet applications and deploying agency banking solutions for several microfinance institutions. Awacash is set to lead the way, fostering innovation and enhancing access to financial services for all due to its enviable location at the vanguard of the rapidly expanding and transforming fintech industry.

    Awacash is committed to embracing the promise of emerging technologies, fostering innovation, and creating solutions that serve the increasing financial needs of people and businesses across Africa and beyond as the company continues on its path.

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    About Awacash 

    Awacash is a financial technology business that is dedicated to increasing financial inclusion in emerging nations and revolutionising the delivery of financial services via the use of cutting-edge technology. Their objective is to create a mobile-based platform that can be accessed from a single point for streamlined payments, transfers, loans, savings, and other important financial services. 

    Awacash is a customer-focused business, and as such, it is committed to providing outstanding services to each and every individual, including independent contractors and content producers.

    As a mobile banking solution, Awacash gives independent producers and freelancers access to credit choices that are both flexible and reasonable to help meet their financial obligations. 

    They have been granted a licence to lend money as well as a licence to operate as a microfinance bank by the Central Bank. As a result, they are in a strong position to provide customers, especially those in the gig economy, with individualised financial solutions. The wide network of app users and agents registered with Awacash rely on the company’s platform to transfer and receive money, pay bills, and access other important financial services.

    Their team is comprised of seasoned experts that have a strong awareness of the requirements and issues that are faced by freelancers and artists. 

    Awacash is dedicated to offering consumers with cutting-edge solutions that not only fulfil their financial needs but also boost their overall financial well-being. With the financial support they have secured, they are sure to serve their customers better.

  • Emurgo Africa to release Africa’s State of Web 3.0 Report

    Emurgo Africa to release Africa’s State of Web 3.0 Report

    Emurgo Africa is getting ready to share a full State of Web 3.0 in Africa Report on June 23, 2023. 

    The analysis reveals how fast African Web 3.0 technologies are changing. It also provides an in-depth study of their consequences, opportunities, and challenges, as well as proposals for growth and influence.

    Africa is rapidly adopting Web 3.0. They can transform trade and industry, financial services and financing, supply chain management and logistics, and healthcare provision and access. Clear legislation, infrastructure development, and stakeholder engagement will be needed to apply these technologies widely.

    The study, funded by Emurgo Africa, will be released in Nairobi, Kenya, during a media event with industry leaders, policymakers, and the press. NODO, CVVC, GreenHouse Capital, PwC, and Cardano will speak at the event.

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    Emurgo Africa’s report on technology’s impact on African growth

    The report examines how these technologies could boost African social and economic progress and bridge a knowledge deficit. It covers real-world use cases, opportunities, and challenges of Web 3.0 technologies in the region.

    Decentralized finance (DeFi), blockchain technology, digital identity, smart contracts, and data privacy are covered in the report. It examines target countries’ legal systems, infrastructure, and technology. This identifies areas for improvement to promote Web 3.0 technologies.

    The report found that Web 3.0 technologies offer huge opportunities for Africa, that blockchain investment in Africa increased by 1,668% between 2021 and 2022, and that industry stakeholders, policymakers, and regulators must work together to foster Web 3.0 technology growth.

    “The future of Web 3.0 technologies in Africa is bright, with the potential to drive unprecedented social, financial, and economic development across the continent,” stated Emurgo Africa CEO Ahmed M. Amer. This paper emphasises the crucial role of stakeholders, policymakers, and regulators in realising Web 3.0’s revolutionary capacity in Africa.

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    About Emurgo Africa

    A blockchain technology company with a lot of energy, EMURGO Africa is dedicated to building a bright future for all of Africa. By using the promise of blockchain, our experienced team hopes to solve big problems like poverty, inequality, and climate change.

    To empower Africans to improve their lives and communities, we aim to develop a strong blockchain ecosystem that fosters economic growth, social inclusion, and environmental sustainability. Governments, companies, non-profits, and universities are our clients. This aligns with our principles of innovation, collaboration, honesty, and sustainability.

    Blockchain-based platforms provide millions of Africans with free education, healthcare, and financial services. We’re delighted to help improve Africa with blockchain technology.