Tag: West Africa

  • Bolt adds Caroline Wanjihia as Africa Regional Director

    Bolt adds Caroline Wanjihia as Africa Regional Director

    Bolt made Caroline Wanjihia its Africa Regional Director. For Africa and International Markets, including the Middle East, Asia, and LATAM, Ms. Wanjihia will oversee the company. Bolt’s statement is part of its regional operations improvement effort.

    “I feel privileged and eager to assume this responsibility. Ride-hailing services can transform how people travel, communicate, and access economic opportunities in Africa,” says Caroline Wanjihia, the new Regional Director for Africa and International Markets.

    She says, “My dedication lies in making a meaningful contribution and spearheading the company’s mission to foster safe, reliable, and accessible mobility solutions, ultimately propelling growth and expansion across the continent and wider region.”

    The University of Nairobi awarded Caroline a Bachelor of Laws. Additionally, she is a CPA and CFA Level III Candidate. With over 15 years of experience, she is a respected Strategy, Business Development, and Operations Director. Caroline has guided Coca-Cola, Diageo, Barclays, PwC, and Old Mutual in creating their company strategy and growth using her unique tactics.

    Bolt Rides Senior Vice President Paddy Patridge said, “We are thrilled to have Caroline at the helm of our operations in Africa. Her leadership, dedication, and knowledge will drive our mission to change transport and mobility services across the continent. This important appointment shows our commitment to regional business growth.”

    Read also: Bolt announces Bolt Den Accelerator program

    Caroline Wanjihia’s long-term plan for Bolt’s sustainability and social duty

    New Bolt Regional Director for Africa Caroline Wanjihia is expected to integrate environmental measures into the company’s operations.

    As part of the planned work, Bolt’s environmental effect will be evaluated and kept as low as possible by making car fleets more energy efficient and looking into renewable energy options.

    Ms. Wanjihia may focus on the needs of the community and support projects that go beyond business deals. These could include community outreach programmes, partnerships with local groups, and investments in education and skill development.

    The main goal of Ms Wanjihia’s Corporate Social Responsibility (CSR) plan is to encourage ethical business practices at Bolt, such as fair labor standards, open communication, and a dedication to diversity and inclusion.

    Technology can improve things, and Ms. Wanjihia is looking into how Bolt’s platform can help solve social problems and make things easier for communities that aren’t getting enough help.

    It is likely that establishing mechanisms for accountability and transparency—such as frequent reporting on sustainability targets, environmental impact evaluations, and community involvement programs—will take precedence.

    Ms Wanjihia may create CSR programmes that follow global sustainability standards while also taking into account and meeting the unique social and environmental needs of each local area. This is because Bolt operates in many different areas.

  • GIM-UEMOA, PaySky to bolster fintech in West Africa

    GIM-UEMOA, PaySky to bolster fintech in West Africa

    GIM-UEMOA, the regional interbank electronic money transfer system, has recently entered into a significant agreement with PaySky, a prominent facilitator of digital payment ecosystems. The collaboration aims to foster the growth and advancement of GIMpay, a cutting-edge digital payment solution.

    For the West African Economic and Monetary Union (WAEMU) region, the multinational organisation GIM-UEMOA oversees the interbank electronic payment system.

    The new GIM-UEMOA mutualization plan, which includes the GIMpay infrastructure and the related new ecosystem, would reshape WAEMU’s digital financial environment in a way that fosters financial inclusion, fintech innovation, and a better customer experience.

    PaySky, a leading technology company, has achieved a major milestone in the industry through this groundbreaking collaboration. In an unprecedented move, PaySky has become the technology partner for not just one, but five platforms within the GIMpay ecosystem. This partnership is set to revolutionize the industry and pave the way for exciting developments in the future. This relationship is unprecedented in size and breadth, solidifying PaySky’s leadership position and ushering in a new age of fintech advancements in Africa.

    “We are delighted to partner with PaySky as a contributor to the GIMpay ecosystem. “GIMpay is a catalyst for the efforts of banks, e-money institutions, decentralised financial services, fintech, and national treasuries to master the customer experience in order to create a sustainable digital finance ecosystem,” said Minayegnan Coulibaly, CEO of GIM-UEMOA.

    Read also: Zanifu secures $11.2 million in debt and equity for lending services

    Working towards an all-inclusive ecosystem 

    GIM-UEMOA, known for its innovative digital projects, is working towards establishing an all-inclusive ecosystem. This ecosystem will consist of a Regional Omni-channel Payment gateway, a Government Service Collection Platform, a VAT Collection Platform, and a Super App Enablement Platform. Within this revolutionary ecosystem, PaySky has been hand-selected as the partner of the following services.

    Additionally, PaySky is now in talks to provide ATM Value Added Services (VAS) within the GIMpay ecosystem. An additional service has been introduced to enhance the financial infrastructure by offering a variety of value-added services through ATMs, meeting the changing needs of consumers.

    “We are thrilled to partner with GIM-UEMOA, as this collaboration marks a transformative step towards driving fintech and digital innovations in West Africa, based on PaySky’s vast experience in developing payment solutions for leading financial institutions, central banks, telecom operators and FinTech companies worldwide.’’   Dr. Waleed Sadek, Founder & CEO of PaySky said.

    ‘’As the chosen technology contributor for 5 crucial services within the GIMpay ecosystem, we are honored to serve 8 nations, being Senegal, Cote d’Ivoire, Benin, Guinea-Bissau, Mali, Burkina Faso, Niger, and Togo. Our collective mission is to develop their national payment capabilities, empowering hundreds of thousands of merchants and millions of individuals with the latest technology in the payment domain. This collaboration will play a pivotal role in supporting these countries’ journey towards financial inclusion and digital transformation as means to economic prosperity & social welfare.”

    Mastercard, Zanzibar to speed up digital transformation

    A remarkable achievement in the African fintech landscape

    The partnership between GIM-UEMOA and PaySky is a significant development in the fintech industry in Africa. This agreement covers five crucial services and spans across eight countries. It will benefit 133 banks, 500 decentralized financial services, 40 electronic money issuers, and 180 fintech companies.

    This collaboration marks a remarkable achievement in the African fintech landscape. PaySky’s recent alliance not only cements its position as a trusted leader but also paves the way for future advancements and innovations in the financial technology sector.

    GIM-UEMOA’s partnership with PaySky is a major development in Africa’s financial technology industry. PaySky, the chosen technology contributor for five services within the GIMpay ecosystem, is showcasing its expertise in driving fintech and digital innovations. PaySky, a leading provider of seamless and secure financial services, is setting the standard for professionalism and market leadership. A collaboration is set to revolutionise the financial landscape, equipping businesses and governments with essential tools for success in the digital era.

  • Interpol blocks 208 accounts, arrests 103 for Cyber fraud in West Africa

    Interpol blocks 208 accounts, arrests 103 for Cyber fraud in West Africa

    208 bank accounts have been frozen, and 103 people with connections to online financial fraud have been arrested in relation to organized crime in West Africa, according to Interpol

    More than two hundred bank accounts that were linked to the illegal proceeds of online financial crime were frozen as a result of the operation, according to the international criminal police agency that published the information.

    It was stated that several kingpins were detained because the criminal networks they oversaw were seen to pose a threat to world security.

    It was highlighted that the crackdown, which was given the code name Operation Jackal and took place between the 15th and the 29th of May, was a targeted strike against Black Axe and other similar West African organised crime groups and was carried out by police forces, financial crime units, and cybercrime agencies that were activated across 21 nations around the world.

    Interpol made a remark that highlighted the results of the raid: “€2.15m seized or frozen, 103 arrests, 1,110 suspects identified, and 208 bank accounts blocked.” 

    On the organisation’s website, the Director of Interpol’s Financial Crime and Anti-Corruption Centre, Isaac Oginni, said, “Organised crime is mostly driven by financial gain and Interpol is committed to working with our member countries to deprive these groups of their ill-gotten assets.”

    “This successful operation involving so many countries clearly shows what can be achieved through international cooperation, and will serve as a blueprint for concerted police action against financial crime in the future.”

    Read also: Fraudsters reveal alarming Cyber Security flaws in Nigerian banks

    Interpol’s earlier arrests 

    The International Police have issued an arrest warrant for a Nigerian businesswoman named Ese Cynthia Daniel in connection with an alleged fraud involving N750 million.

    The declaration was made in response to a warrant of arrest that had been granted to the Nigeria Police Force by a Magistrates Court in Lagos State. 

    The warrant was numbered CR: 3000X/ICPO/ADM/LD/VCP/Vol. 4/93 and was published in an INTERPOL bulletin.

    According to the report, Ese, a resident of Delta State, had a plot to defraudly convert the amount in Lagos between January 24 and January 26, 2023, and the bulletin mentioned that Ese was involved in the plot.

    The suspect is believed to have received the aforementioned sum under the guise of offering to pay the sum in United States dollars; however, the suspect ultimately refused to do so and fled to London.

    Kenya police raids Worldcoin warehouse, confiscates equipments

    Content of the bulletin

    The bulletin read, “The above named person is hereby declared wanted by the Nigeria Police Force.”

    “A warrant of arrest issued by the Magistrate Court of Lagos. She is wanted by the police for the offences of conspiracy, fraudulent conversion of funds to the tune of N750million on 24th–26th January, 2023 in Lagos, Lagos State, Nigeria.” 

    “The suspect obtained the sum of N750million under the pretence of paying United States of America dollars, but she declined and absconded to London.”

    “She is from Delta State, Uhorobo by tribe, Business woman, Aged 44 Years, 5 8ft Height. Medium Build, Oval Face, Long Broad Nose, Small Mouth, Thin Lips, Good Teeth. Black Eyes, Dark in Complexion, Pointed Chin, Black Hair, Small Head, High Forehead, Fraudster in Habits. Always dress in English, Home Address: Close 302, Terrace 4, Banana Island, Ikoyi, Lagos. Nigeria, and also resides at No. 1, Magnolia Road, Chiswick, London WA430Y.” 

    “If seen arrest and hand over to the nearest Police Station or to the office of the Assistant Inspector General of Police (INTERPOL) Head of National Central Bureau (NCB), Force Headquarters, Shehu Shagan Way, Abuja. or Call 07060498408.”

  • Africa Data Centre constructs largest Data facility in West Africa

    Africa Data Centre constructs largest Data facility in West Africa

    Africa Data Centres, the largest network of interconnected, carrier- and cloud-neutral data centre facilities on the continent, revealed that it would immediately begin construction on its recently purchased site in the Central Business District of Accra, Ghana, the Ghanaian capital city.

    According to a statement released by the company, the new facility has been planned for an initial capacity of 10 MW, but this number has the potential to increase to 30 MW, depending on demand. Outside of Nigeria, it will be the largest facility that has ever been constructed in West Africa.

     Data centres are the foundation of digitally-led economic growth around the world, according to Hardy Pemhiwa, Group CEO for Liquid Intelligent Technologies. It is impossible to establish sustainable and self-sufficient ICT ecosystems without them. The new building is going to be constructed on a section of the old Trade Fair showgrounds, which is located in one of the most important central areas of the city. Within a year’s time, we should have completed the first part of the project.

    According to Mr Amos Hochstein, Senior Advisor to the United States Government, the investment illustrates the United States Government’s commitment under the Partnership for Global Infrastructure and Investment (PGII) to mobilise public and private money for the purpose of investing in sustainable infrastructure. 

    Nana Akufo-Addo, the President of Ghana, stated that the development of Africa Data Centre’s new 10MW data centre in the centre of Accra is a big step towards bridging the infrastructural gap and growing further our digital economy. This statement was made in response to the new investment, which was warmly received by the President.

    Read also: Lagos Govt. Attracts $1b In Data Centre Investment In One Year

    Remarks from the CEO of the U.S. International Development Finance Corporation (DFC)

    CEO of the U.S. International Development Finance Corporation (DFC), Mr. Scott Nathan said, “DFC is proud to support African Data Centres. This new facility in Accra will be an investment in critical infrastructure helping to better link the rapidly growing African population and market to global opportunities. DFC’s commitment to strengthen ICT Infrastructure in West Africa is in keeping with the commitments President Biden made to mobilize private capital for the kind of high quality global infrastructure investments that improve people’s lives. This new data centre will help accomplish that in Ghana and for the region, creating jobs by improving existing business conditions while at the same time attracting data-dependent companies looking to invest and expand their operations.”

    DFC Announces Investment loan of US$300 million to Africa Data Centers

    List of African Data Centres across the Continent

    MainOne

    MainOne, often known as “Main One Cable,” is the first undersea cable system in West Africa.

    IP NGN network, regional and metro terrestrial fibre optic networks, and data centre facilities allow broadband services for West African organisations that need crucial connection solutions. A submarine accident halted internet in five nations because of the solutions providers.

    Teraco Data Environments

    The company, which calls itself “the first provider of resilient, vendor neutral data environments in South Africa,” obtained R1.2 billion from Barclays Africa Group to expand across Africa from its Johannesburg, Cape Town, and Durban facilities. The South African data centre provides colocation, teleporting, and support. The Teraco data centre will be Africa’s largest commercial data centre.

    Rack Centre

    Award-winning Tier III data centre in Lagos, Nigeria, has 10 levels of physical protection with guards, card access, biometric verification, and CCTV. Rack Centre offers clients unlimited power from a durable dual bank of UPS. Multiple generators protect equipment from interruptions.

    East Africa’s first Tier 3 carrier-neutral data centre is in Djibouti City. It connects Africa to Europe, the Middle East, and Asia via international and regional cable systems. DDC provides data centre services like colocation.

    DigiServ

    This corporation has data centres in Germany, Capetown, and Johannesburg. DigiServ’s website claims 24/7 security and modern facilities.

    Screamer

    Screamer Telecoms maintains one of South Africa’s three Tier 4 data hosting centres with 14 locations. Screamer’s value proposition is dedicated hosting and custom services.

    RSAWEB

    RSAWEB’s data centres are purpose-built and offer 24/7 technical support. The data cloud hosts Enterprise Cloud, AfriCDN, cloud and dedicated servers, online backup, and colocation.

    Rack Africa

    Rack Africa provides colocation, disaster recovery, and IT infrastructure in Ghana from a carrier-neutral Tier 3 data centre. PortingXS (mobile number portability), Cellulant, IPMC, Votomobile, Orange Business Services, Dolphin Telecom, BusyInternet, TeledataICT, Spectra Wireless, and Ecoband are just some of the companies that Rack Africa claims as customers.

    However, This list is inconclusive, and it will be regularly updated from here on out.

  • YMO secures €3 Million In Seed Round to Accelerate Financial Inclusion in West Africa

    YMO secures €3 Million In Seed Round to Accelerate Financial Inclusion in West Africa

    YMO, a financial technology business based in Guinea, has secured €3 million in early investment from a consortium of venture capital funds. 

    The funding round is one of the largest for a startup in Guinea. With this large investment, the startup can grow exponentially, create a sustainable company that addresses actual needs and enhances the lives of its consumers 

    The CEO and co-founder of YMO, Abdoulaye Barry, has said that “this investment will enable us to continue our growth on a solid footing. Our long-term goal is to establish a sustainable company that provides a useful service to the public and significantly enhances the quality of life for our customers. 

    Breega’s and INCO Ventures’ backing strengthens our commitment to becoming a digital banking powerhouse in Africa such that we can help improve the lives of more than a billion people. All our appreciation goes to those who accompanied the important phases of our project”.

    Read also: ‘FairMoney’ updates its mobile app with new features

    With smartphone penetration in Africa predicted to hit 70% by 2024, this investment coincides with a period of rapid growth in mobile money transactions throughout the continent. YMO’s 100% digital solution is tailored toward using technology for money transfers and regular payments, putting it in a prime position to benefit from this development.

    “Breega is a pan-European venture capital fund focused on high-impact start-ups, and they are pleased to back YMO as they roll out their services and help foster the growth of this exciting new business across the African continent. We’re confident in the importance of Fintechs, especially in bolstering Africa’s banking and monetary system by solving its deficiencies and producing new opportunities. According to Ben Marrel, CEO and co-founder of Breega, “the assistance offered to YMO is a component of this strategy, that of enhancing its presence in the market and becoming a significant player in West Africa”.

    “YMO is a deserving component of the ultimate quality of impact Fintechs, which seek to provide access to financial services to underserved populations. INCO Ventures is excited to help propel this emerging African champion because of the company’s “ambition and financial inclusion,” said INCO Ventures’ Chief Investment Officer, Carole Cazassus.

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    Services offered by YMO 

    Founded in 2019 by Abdoulaye Barry, YMO was launched as an instant mobile payment service between France and Guinea. The company acquired its license to operate as an e-money issuer from the Central Bank of the Republic of Guinea in October 2022 and began offering its local payment service shortly afterwards.

    The firm, which now has around 1 million users, intends to penetrate West Africa and provide financial inclusion services for Africans in both Africa and the diaspora in France and Europe. With the funds raised, the company plans to hire more people to work in technology and compliance, invest in research and development, and build up its compliance division throughout Europe and Africa.