Author: ITPulse

The dawn of the AI age presents a unique opportunity for Africa. With the right policies, the continent can experience accelerated socio-economic progress. According to a recent study by Public First, AI could increase the Sub-Saharan African economy by over $30 billion annually, and is already revolutionizing various African sectors. For instance, AI-powered ultrasound checks are accessible in remote areas, AI combined with satellite imagery helps assess village electrification, and AI and cloud connect youth with jobs via mobile search. As the AU Commissioner for Infrastructure and Energy, H.E. Dr. Amani Abou-Zeid wrote at the introduction to the recently adopted…

By Martin Ekpeke Foreign technology companies operating in Nigeria have made a significant contribution to the nation’s economy, paying over N2.55 trillion (approximately $1.5 billion) in taxes in the first half of 2024. A statement issued and signed by NITDA’s Director, Corporate Communications & Media Relations, Hadiza Umar, quoted data released by the Federal Inland Revenue Service (FIRS) and the National Bureau of Statistics (NBS.  The statement highlighted the growing importance of the digital economy in Nigeria, adding that this substantial tax revenue underscores the effectiveness of robust regulatory frameworks in ensuring compliance and driving economic growth. Meanwhile, the National…

A recent report by Duplo, a leading provider of financial technology solutions in Africa, has shed light on the pressing issue of talent retention within Nigeria’s finance sector. The survey, which polled 593 finance professionals, revealed significant concerns around compensation, economic instability, and a lack of adequate training support. Key Findings: Compensation Dissatisfaction: Nearly 60% of respondents expressed dissatisfaction with their current compensation, highlighting the need for inflation-adjusted salaries and more competitive packages. Economic Instability and ‘Japa’: Economic volatility and the ‘Japa’ phenomenon (emigration) were identified as major threats to talent retention. Impact of Salary Negotiation: Professionals who regularly negotiate…

Social media giant, Meta Platforms has defied challenges and achieved a remarkable financial turnaround. Despite facing stiff competition and regulatory hurdles, the company’s quarterly net income skyrocketed to a staggering $15.6 billion in Q3 2024. This represents a massive 255% increase from the lows of 2022 and a whopping 1,850% jump over a decade. Meta’s journey over the past ten years has been a rollercoaster. While initial years saw consistent growth fueled by dominance in online advertising and cutting-edge AI, recent years brought new obstacles. Competition from platforms like TikTok, privacy concerns, and hefty metaverse investments all threatened profitability. In…

By Elvis Eromosele   The financial sector is the backbone of any economy, driving transactions, investment, and growth. In Nigeria, the financial sector is under siege. The recent report from the Financial Institutions Training Centre (FITC) confirms this. The report reveals a shocking escalation in fraudulent activities, leaving banks and customers vulnerable in the first nine months of 2024.   This rising tide of financial fraud raises critical questions: Why is fraud surging, and what can be done to stem the tide?   The FITC Fraud and Forgery Report for Q3 2024 paints a grim picture. Fraud cases reported by Nigerian…

This year’s France–Nigeria Investment Forum, a major highlight of President Bola Tinubu’s visit to France, ended soundly and was mutually rewarding for both countries.  For some of us who have attended a few such forums in the past, this year’s edition stands out as the best from a Nigerian perspective, especially because of the organization and selection of relevant, successful Nigerian entrepreneurs who attended.  Though it was a government-to-government outing, the event was largely driven by the private sector, including experienced foreigners who functioned as moderators. In the past, the Nigerian government would showcase CEOs of companies that foreign investors…

Africa’s leading startup and career accelerator, ALX, recently hosted a transformative online pitch session, featuring 10 promising startups from its ecosystem. The event highlighted the accelerator’s commitment to fostering innovation and addressing global challenges through entrepreneurship. The participating startups presented their innovative business solutions and models to a panel of expert judges. Grow Kinesis, a groundbreaking health and fitness digital solution, emerged as the first-place winner. Helgg, a micro-mobility company offering e-vehicles, secured second place, while Uri Creative, a creative marketplace and digital analytical tool, claimed the third position. Joshua Ebinabo, Entrepreneurship Development Manager for ALX Nigeria, expressed his enthusiasm…

The African Airlines Association (AFRAA) and concluded its 56th Annual General Assembly (AGA) in Cairo – Egypt. Graciously hosted by EgyptAir, the event was held under the High Patronage of the Government of the Arab Republic of Egypt and officiated the Honourable Minister of Civil Aviation of the Arab Republic of Egypt – H.E. Dr. Sameh Ahmed El Hefny, representing the Government. The Assembly, which brought together over 600 delegates from 60 countries under the theme “Transform and Develop the Airline Industry in Africa”, was a melting pot of deliberations on deliberate actions, progress on best practices for African airlines…

Dr. Krishnan Ranganath, Regional Executive, West Africa at Africa Data Centres, a seasoned ICT and Telecommunications industry veteran, has been recognized as the “Icon of Innovation and Digital Transformation” at the prestigious CIO & C-Suite Conference & Awards. The award, presented by Edniesal Consulting Limited, acknowledges Dr Krishnan’s significant contributions to Africa’s rapidly evolving digital landscape. With over three decades of experience across multiple industries, Dr Krishnan has been instrumental in driving digital innovation and fostering strategic partnerships across the continent. His visionary leadership has been pivotal in addressing Africa’s unique challenges, including limited internet access, affordability, and infrastructure. “We…

SeerBit, Africa’s most trusted payment solutions company, has reiterated its drive towards accelerated innovation and sustainable growth at the recently concluded West Africa Dreamin’ 2024, a Salesforce-powered event which held at Landmark Centre, Victoria Island, Lagos. The first ever Salesforce community conference in the region, West Africa Dreamin’ 2024 was a historic gathering which brought together visionaries, innovators, business leaders and the brightest minds in the Salesforce ecosystem to connect, network and empower participants for growth. SeerBit stood out at the event as Gold Sponsor, further entrenching its status as a thought leading brand with insightful contributions and presentations, while…