Author: ITPulse

In the startup ecosystem, the headlines often spotlight the founders. Yet behind the success of any high-growth startup are the leaders who turn the bold visions of founders into scalable products. Oluwole Ogunlade calls them ‘Operators’. Reflecting on his career, Oluwole Ogunlade has always been the operator behind some of Africa’s most significant fintech and commerce milestones, from scaling VoguePay to over 100,000 merchants, to contributing to the foundational growth of Sabi (now valued at $300M+), and later driving a full digital transformation as Managing Director of Wesley Microfinance Bank. In this interview, we sat down with him to deconstruct…

The Bill & Melinda Gates Foundation (BMGF), in collaboration with the African Forum for Agricultural Advisory Services (AFAAS), hosted a key stakeholder event to advance the development of a sustainable Public-Private Partnership (PPP) model for digital agricultural extension services (DAES). The gathering, held at the Marriott Hotel in Ikeja, Lagos, brought together leaders from the public, private, and development sectors to explore innovative solutions that address the challenges faced by smallholder farmers in Nigeria and contribute to the nation’s food security goals. Smallholder farmers, who contribute significantly to Nigeria’s food production, face numerous obstacles, including limited access to quality advisory…

ESET, a global leader in digital security, has provided insights on the rising threat of online scams. In a significant operation earlier in the week, Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), conducted a large-scale raid on the Big Leaf Building in Lagos, which had been identified as a key hub for fraudulent activities. According to EFCC’s account, 792 individuals, including 148 Chinese and 40 Filipino nationals, were arrested during the operation, all suspected of involvement in a global fraud network. The suspects allegedly operated a complex scam ring that deceived victims through fraudulent romance offers and…

Lauded as one of the 21st century’s most transformative financial tools, mobile money has significantly inspired financial inclusion by providing previously unbanked and underbanked populations the access to essential financial services. This innovation empowers individuals and businesses with the tools to send and receive remittances, make seamless payments for goods and services and save money, while ultimately contributing to faster economic growth and development across the region.   Research from GSMA’s The State of the Industry Report on Mobile Money 2024 reveals that over the past decade, increased adoption of mobile money services has significantly improved GDP. This has contributed…

Sophos, a global leader in cybersecurity, announced its strong performance in the 2024 MITRE ATT&CK Evaluations: Enterprise. The independent assessment evaluated 19 vendors on their ability to detect and analyze real-world attack tactics and techniques. Key Findings: 100% Detection: Sophos XDR successfully detected all adversary behaviors in attack scenarios targeting Windows and Linux, mimicking threats from ransomware groups like LockBit and CL0P. High-Fidelity Detection: 98% of sub-steps across all attack scenarios received the highest possible “Technique” rating, indicating precise identification of “who, what, when, where, why, and how” attacks occurred. Comprehensive Coverage: Sophos XDR achieved “Analytic Coverage” ratings for 99%…

MTN Nigeria Plc has successfully raised an additional N72.18 billion through the issuance of commercial papers. This latest funding round follows a previous N75 billion issuance in November 2024, demonstrating strong investor confidence in the telecom giant. The Series 13 and 14 commercial papers were issued at attractive yields of 27.50% and 29.00%, respectively, with a maturity period of 180 and 270 days. The oversubscribed offer, which attracted a 144% subscription rate, underscores MTN Nigeria’s strong financial position and brand reputation. The proceeds from this issuance will be utilized to support the company’s short-term working capital requirements. Karl Toriola, CEO…

The Economic and Financial Crimes Commission (EFCC) has arrested a staggering 792 suspects in a single raid targeting a cryptocurrency investment and romance scam syndicate.   Wilson Uwujaren, Director of Public Affairs disclosed this to journalists in Lagos, noting that the operation, conducted recently apprehended the suspects at their seven-story hideout in Lagos. Among those arrested were 193 foreign nationals, including 148 Chinese, 40 Filipinos, and individuals from Kazakhstan, Pakistan, and Indonesia. Months of surveillance led the EFCC to the well-disguised headquarters, which housed sophisticated equipment and hundreds of SIM cards used for criminal activity. The investigation revealed the foreign…

By Elvis Eromosele   The Nigerian banking system, once celebrated as the backbone of the nation’s economy, is facing a glaring paradox. Customers walk into bank branches daily to access their funds, only to be told that cash is scarce. The situation, which began following the Naira redesign exercise under former President Muhammadu Buhari, has become a troubling norm. Bank tellers now ration cash withdrawals, often imposing arbitrary limits like N20,000 per person, without detailed explanations. This raises an unsettling question: is there a hidden liquidity crisis in the Nigerian banking system?   The central function of a bank is…

Branka Mracajac, the Managing Director/CEO of 9 Payment Service Bank (9PSB), has been honored with the prestigious Visionary Leader award at the CIO & C-Suite Africa Awards 2024. This recognition underscores her significant contributions to Africa’s technology and business landscape. The award ceremony, held last month, celebrated individuals who have driven innovation and digital transformation across the continent. Mracajac’s leadership has been instrumental in shaping 9PSB’s growth and impact on Nigeria’s financial landscape. In addition to this honor, Mracajac was recognized at the 31st Anniversary Celebration Dinner of the Association of Telecommunications Companies of Nigeria (ATCON). The event, held on…

By Dean Baker  With the insurance landscape ever evolving, it is becoming increasingly crucial for insurance companies to embrace innovative technological advancements that introduce convenience, enhance customer engagement, and redefine marketing strategies to stay competitive.   Africa’s population remains largely underserved by traditional insurance models, underscoring the urgent need for accessible, customer-centric solutions. This highlights an opportunity for insurers to serve this market with innovative tools and solutions that can meet the changing demands of African customers.  Delivering a strong insurance product is no longer sufficient; insurance companies must also focus on delivering a robust omnichannel customer experience. Modern customers…