Author: ITPulse

The African Development Bank (AfDB) has solidified its commitment to Africa’s infrastructure development by investing $20 million in the African Infrastructure Investment Fund 4 (AIIF4). This strategic move, approved by the Bank’s Board of Directors in June, aims to catalyze private sector participation and bridge the continent’s significant infrastructure gap. Africa’s infrastructure sector presents a compelling investment opportunity, driven by surging urbanization and growing consumer demand. Despite the sector’s potential, it faces a chronic shortage of capital, with an estimated annual financing gap of between $68 and $108 billion. AIIF4, targeting a $500 million fund size, has already secured over…

FBNQuest Trustees Limited has issued a strong denial of any business relationship with Maihomm Trustees/Maihomm Management. The company has become aware of recent publications suggesting a partnership between the two entities, which it categorically dismisses as false. In a statement released today, FBNQuest Trustees emphasized that it is a separate and independent entity from Maihomm Trustees/Maihomm Management. There has been no joint venture, collaboration, or business agreement of any kind between the two companies. The trust services provider reiterated its commitment to transparency and integrity, and urged the public to disregard any claims suggesting a connection between the two organizations.…

By Sophia Parker Investigate the importance of sanctions screening in monitoring various individuals, transactions, and entities against multiple lists to identify financial discrepancies. Money laundering is a stigma that is difficult to identify and overcome in today’s digital business environment. It is estimated that approximately 86,000 suspicious transactions were reported in 2017. These malicious transactions make the organizational activities vulnerable to financial crimes and terrorist financing. The financial discrepancies raise the business’s need to conduct extensive sanction list screening to identify the high-profile entities that are mentioned in the various criminal lists. Sanctions screening adheres to a systematic approach through…

Providus Bank Limited and Unity Bank Plc have announced that they have received approval from the Central Bank of Nigeria (CBN) to merge their operations. The combined entity is expected to become a leading financial institution in Nigeria, offering a comprehensive range of banking services to retail, corporate, and commercial customers. The merger brings together the strengths of both banks. Unity Bank, with its extensive branch network and strong presence in the agricultural sector, will complement Providus Bank’s innovative digital banking platform and focus on customer growth. “This merger is a strategic move that will enable us to create a…

MTN Nigeria Communications Plc has announced the successful renegotiation of its tower lease agreements with IHS and ATC Nigeria. The deal, which was part of the company’s strategy to recover its capital position, will see significant cost savings and improved operational efficiency. According to a statement released by the company and signed by Uto Ukpanah, Company Secretary, the renegotiated terms involve a shift from US dollar-indexed leases to primarily naira-based ones, with a cap on the naira CPI escalator component. Additionally, the agreements remove technology-based pricing and incorporate an energy cost component indexed to the cost of diesel power. The…

The Founder and Chief Visionary Officer, Digital Encode Limited, Forbes Best of Africa Outstanding Digital Trust Leader, Dr. Obadare Peter Adewale, has been appointed as the first Professor of Practice (Cybersecurity) in Nigeria. Dr. Obadare’s letter of appointment as a Professor of Practice (Cybersecurity) by Miva Open University, Abuja, dated 1st of July 2024 and was signed by the University’s Registrar, Iheanyi Akwitti. The position of Professor of Practice is awarded to distinguished individuals of recognized professional standing, with a significant track record of exceptional professional experience in their field. This Professor of Practice appointment will offer Dr. Obadare, arguably the most…

By Taiwo Kola-Ogunlade Artificial intelligence (AI) is revolutionizing industries, including digital marketing, by enabling marketers to create targeted, engaging, and effective campaigns. Last week Google Ads introduced a suite of new AI-powered tools that enhance creativity and performance, such as advanced reporting, AI-powered image editing, generative AI for asset creation, streamlined access, and seamless integrations with creative platforms. These tools empower marketers to uncover hidden insights, unleash their creativity, accelerate content creation, simplify their workflow, and expand their creative network. These new features build upon the foundation of Performance Max, providing marketers with even more tools to unleash their creativity…

By Tshidisegang Mosenyegi As South Africa commemorates Women’s Month, it is crucial to acknowledge the remarkable progress women have made in the technology sector. Despite the obstacles women face, they are increasingly assuming key roles and making significant contributions to the industry. This growth in female representation is not only a testament to their perseverance but also a vital step towards achieving gender equity in the workplace. In recent years, the technology sector has witnessed remarkable progress driven by talented and visionary women. Their presence and influence are reshaping the industry, fostering innovation, and creating more inclusive workplaces. However, we…

The directive issued to telecommunications operators compelling them to streamline their tariff structures, bundles, and promotional offers by the Nigerian Communications Commission (NCC) comes with four key provisions. They are: A clear and concise presentation of tariff information to subscribers. Mandatory disclosure of tariff plans via USSD. The elimination of access fees and asymmetric fee structures. The offering of standalone data bundles without unnecessary add-ons. The directive was contained in a statement signed by Reuben Mouka, Director of Public Affairs at the NCC. The aim of the directive issued on July 29, 2024, is to enhance transparency and empower subscribers…

TD Africa, Africa’s leading technology distributor, has partnered with global tech giant, Huawei, to introduce a comprehensive networking solution designed specifically for Small and Medium-sized Enterprises (SMEs) across the continent. The Huawei eKit offers a robust suite of connectivity, collaboration, and storage solutions aimed at optimizing operations, boosting productivity, and driving growth for African SMEs. Recognizing the challenges faced by SMEs in accessing reliable and efficient technology solutions, TD Africa and Huawei have collaborated to create a one-stop shop for their needs. The Huawei eKit includes routers, switches, access points, and the innovative IdeaHub, providing businesses with the tools to…