Author: ITPulse

PalmPay, a Nigerian-based fintech company has reaffirmed its commitment to combating financial fraud through cutting-edge technology. This pledge was underscored during a recent visit by the company’s management team to the Nigerian Financial Intelligence Unit (NFIU). Chika Nwosu, Managing Director of PalmPay, highlighted the country’s increasing prevalence of fraud and the urgent need for collaboration between fintech companies and government agencies. “A secure financial ecosystem is essential for a thriving digital economy. Our partnership with the NFIU demonstrates our dedication to supporting Nigeria’s anti-fraud and anti-money laundering (AML) efforts. Together, we aim to create a safer digital experience for all…

Infobip, a global communications platform, has announced a significant increase in customer interactions on its platform during Black Friday 2024. The company recorded a 26% year-over-year growth in total interactions, reaching 3.4 billion on the day itself. Messaging interactions, including SMS, email, and WhatsApp, accounted for over 1.6 billion interactions on Black Friday, making up a substantial portion of the total. This highlights the continued reliance on these channels for effective customer communication during peak shopping seasons. Commenting, Ivan Ostojić, Chief Business Officer at Infobip, said: “RCS has become a crucial channel for shoppers during Black Friday. Consumers are seeking…

TelCables Nigeria, a subsidiary of Angola Cables, is set to enhance connectivity and cloud access across West Africa by establishing a new Point of Presence (PoP) at the Rack Centre Lagos facility. This strategic move aims to significantly improve digital connectivity in the region, providing businesses and communities with easier and more affordable access to digital content and services. Fernando Fernandes, CEO of TelCables Nigeria and West Africa, highlighted the importance of this expansion, stating, “The new PoP at Rack Centre is a crucial step towards strengthening West Africa’s digital infrastructure. By localizing traffic, we can provide faster, more reliable…

Bitcoin has achieved a historic milestone, surpassing the $100,000 mark for the first time. This surge is largely attributed to expectations of a pro-crypto regulatory environment under the incoming Trump administration. While this is undoubtedly a significant moment for the cryptocurrency market, Nigel Green, CEO of deVere Group, predicts a short-term sell-off before Bitcoin rallies further to reach $120,000 in the first quarter of 2025. “This $100,000 breakthrough was inevitable,” Green stated, reaffirming his prediction made last month following Trump’s election victory. He added, “However, with such a dramatic price increase, it’s natural to expect some profit-taking. This temporary dip…

Airtel Nigeria has once again solidified its position as a technology and innovation leader, with two top executives receiving prestigious honors at the 5th CIO & C-Suite Awards. Held on November 30, 2024, at the Civic Centre, Victoria Island, Lagos, the awards recognize outstanding achievements in technology and innovation leadership across 11 African nations. Harmanpreet Dhillon, Airtel Nigeria’s Chief Technology Officer, was crowned Overall Tech Champion of the Year and also secured the Gold Award as an Innovative Leader in the Telecommunications Sector. Additionally, Kemi Ariyo, the company’s Director of Information and Technology, was awarded the Silver Award in the…

The West Africa Telecommunications Regulators Assembly (WATRA) is pleased to announce that its Executive Secretary, Mr. Aliyu Aboki, has been appointed to the International Advisory Body for Submarine Cable Resilience. Established by the International Telecommunication Union (ITU) in collaboration with the International Cable Protection Committee (ICPC), this body aims to improve the resilience of submarine telecommunication cables, the backbone of global digital connectivity. Submarine cables carry the majority of the world’s internet traffic, enabling essential global services such as commerce, finance, government operations, healthcare, and education. Enhancing their resilience is crucial for ensuring uninterrupted digital connectivity. Mr. Aboki’s appointment to…

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…