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The Republic of the Congo has unveiled a yet-to-be-completed three-storey building in Brazzaville’s Bacongo district of the Congolese capital, which will house the country’s National Data Centre. Financed by the African Development Bank Group k, the data centre will be used to store and process the country’s digital data and its citizens.
The fibre project will cost a total of €66.55 million ($72 million). Of this sum, a total of €52.47 million ($56 million) will be contributed by the African Development Bank and the balance of €14.50 million ($15 million) by the government of Congo. Of the total, a sum of €13.8 million ($14.6 million) has been allocated to build and run the data centre.
Read more: https://technext24.com/2024/05/19/congo-building-72m-fibre-data-centre/#google_vignette???
Rabat – GITEX AFRICA , the continent's premier tech and startup event, is set to return for its second edition from May 29 to 31, 2024 in? Marrakech. Following the resounding success of its inaugural event in 2023, this year’s edition aims to further establish itself as a key platform for exploring digital transformation, financial inclusion and economic empowerment across Africa.
The 2023 event was a landmark, drawing over 30,000 visitors, 900 exhibitors, and 250 speakers, creating a vibrant hub for knowledge sharing and collaboration. The 2024 edition aims to build on this momentum, featuring an impressive lineup of influential figures shaping Africa's tech landscape.
Read more: https://www.moroccoworldnews.com/2024/05/362729/gitex-africa-2024-set-to-propel-continents-digital-transformation??
The Federal High Court of Nigeria, Headquarters, Abuja , sitting in Lagos has held that a Central Bank of Nigeria ria, CBN, regulation, which requires financial institutions to demand and collect the social media handles of their customers, as part of the standard Know-Your-Customer procedure, is not a breach of the right to privacy.
Justice @Nnamdi Dimgba dismissed a suit filed by a Lagos-based lawyer, Chris Eke, demanding a declaration that the regulation as contained in Section 6(a)(iv) of the Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023, is undemocratic, unconstitutional, null and void, to the extent of its inconsistency with Section 37 of the 1999 Constitution of the Federal Republic of Nigeria (as amended).
Read more: https://dailypost.ng/2024/05/17/court-affirms-cbns-regulation-on-collection-of-customers-social-media-handles/??
Moniepoint Nigeria Inc, parent company of Nigeria’s leading financial institutions, Moniepoint Group MFB and #TeamApt Ltd has been ranked by the Financial Times, as Africa’s fastest-growing financial institution.
FT confirmed Moniepoint Inc’s accolade in its annual “Africa’s Fastest Growing Companies” survey, released recently. It is the second consecutive year Moniepoint has achieved both the fastest-growing fintech milestone, and, ranked in Africa’s top four fastest-growing companies overall.
The survey was compiled by Statista, a leading research company renowned for its insight into African companies’ actual performance, in a rigorous screening process. In this survey, companies are ranked based on 2019-2022 data by their absolute growth rate of revenues and their compound annual growth rate (CAGR). Moniepoint’s growth rates of 7,979 per cent (absolute) and 332 per cent (CAGR) ranked it ahead of hundreds of leading companies from diverse industries such as technology, telecoms, financial services, and healthcare.
Read more: https://newtelegraphng.com/moniepoint-ranked-africas-fastest-growing-financial-institution-by-ft/??
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Dario Bianchi hi, the Chief Digital Officer of MTN Ghana , has emphasized the necessity of cultivating a fair and inclusive digital future in Africa, highlighting the importance of ensuring equal access and opportunities for everyone.
During the Mobile Technology for Development session at the 3i Africa Summit in Accra, Bianchi discussed MTN’s commitment to innovation and inclusivity, emphasizing the company’s goal of extending the benefits of modern connectivity to all individuals. “We believe everyone should have access to the advantages of a contemporary, connected life,” Bianchi stated. “MTN is continually exploring new and innovative ways to reach people across various sectors, providing them with access to digital products and services.”
Visa , a world leader in digital payments, has announced the startups shortlisted from across Africa to participate in the second cohort of its Africa Fintech Accelerator program. As part of Visa’s work to unlock financial innovation across the continent, the biannual program offers 12 weeks of 1:1 mentorship and personalized training, providing seed to series A startups with exclusive opportunities to access funding, development, and resources.
Cohort 2 startups operate across 28 African countries, a 55% increase from Cohort 1 where the representatives operated across 18 countries. 65% of them feature female leadership, rising from 43% in the inaugural edition.
Read more: https://techeconomy.ng/visa-shortlists-20-startups-for-its-africa-fintech-accelerator-program-cohort-2/??
Central Bank of Nigeria has withdrawn a controversial 0.5% cybersecurity levy on electronic transfers three days before it was supposed to take effect. The Cybersecurity Act was amended in 2024 and the scope of the levy was extended to cover fintechs, payment service providers and other financial institutions and introduced a 900% increase from 0.005%.??
“Please be advised that the above referenced circular [the circular that implemented the levy] is hereby withdrawn,” the circular signed by Chibuzo Efobi, the director of the central bank’s payment system management team, and Haruna Mustafa, the director of financial policy and regulation, read.?
The perpetrators, according to the TechCabal report, were said to have illegally transferred ?11 billion ($7 million) to several accounts in April 2024, one financial services insider with direct knowledge of the incident said. A second insider claimed the amount involved was at least ?20 billion ($13.5 million).
This is coming, one month after obtaining a court order to recover $24 million lost to unauthorised PoS transactions. “As is common in the financial services industry, there will always be attempts by bad actors to compromise the security of systems set up to protect and monitor services,” Flutterwave said in a statement.