Aside the challenge of capital for fintechs, insufficient human resource remains a major concern for operators in Nigeria’s financial industry, experts have said. Experts expressed worry over the rising deficit of software developers and subsequently called for more employable graduates. With the survival of any financial firm based on their level of automation and technology adoption, while some fintechs have resorted to employing human resource outside the country, experts noted that it does not still provide the option. According to them, this is due to the cost of onboarding them, lack of technical competence and their inability to be streetwise. They added that financial business requires more developers, intelligent thinkers, attention to details, and streetwiseness to m
East Africa leads other regions as investors’ destination Technology development has been described as a key element to attracting Foreign Direct Investments (FDIs), especially in Nigeria and rest of Africa. According to EY Africa Government & Public Sector Leader, Sandile Hlophe, at the opening of the World Economic Forum (WEF) in Cape Town, South Africa, yesterday, technology-focused FDI in Africa and the rest of the world is rising steadily as the pace of digital transformation picks up. Hlophe, in the EY Africa Attractiveness report 2019, noted that while Africa is still behind the technology curve, there is a once-in-50-years opportunity for the continent to leapfrog incremental technology advancement. According to him, adopting digital transformation successes from mor
Electricity consumers across Nigeria may now heave a collective sigh of relief as the National Electricity Regulatory Commission (NERC) has figured a perfect way to help everyone acquire electricity meters. The Details: The plan, according to the electricity regulatory agency, is to make it possible for electricity consumers to acquire meters without necessarily paying upfront. The arrangement will enable those who cannot pay immediately to pay in installments. There are two options consumers can choose from —finish up the payment in one year or do so over a ten-year spread. With the exclusion of VAT, the prices for the meters are as follows: N36,992 for one-phased meters and N67,055 for three-phased meters Why this is good news: One of the greatest challenges electric
TECNO SPARK 3 was awarded as the phone of the year as a result of its cutting edge features TECNO (Tecno-Mobile.com) SPARK 3, a smartphone model by TECNO, a global premier mobile phone brand, has been awarded as the smartphone brand of the year at the 2019 edition of the Africa Information Technology & Telecoms Awards (AITTA). TECNO has been Africa’s leading smartphone brand and was the first dual-SIM handset supplier to the African continent AITTA recognises customer service, innovation and excellence in Africa Telecom and Information Technology industry. The reputable awards now in its third year and has been acclaimed as one of the most prestigious and biggest platform recognising excellence and innovation in the African telecoms and technology industry. TECN
Nigeria’s internet download speed has gone from bad to worse as a report from the UK-based price comparison website, Cable, revealed that the country’s internet download speed is one of the slowest in the world. According to the report, Nigeria’s internet download speed is ranked 176th of 207 countries measured globally. The report further shows that it takes an average of over 7 hours (7:18) to download an HD movie of 5GB in Nigeria. This means that Nigeria’s internet download speed has deteriorated in the past two years from 95th in 2017 to 176th in 2019. Top ten countries: Taiwan has the fastest internet download speed in the world. In Taiwan, an HD movie of 5GB takes 8:02 minutes to download. According to the report, the economy of Taiwan relies heavily on digital infrastr
A Professor of Anatomy, Oladapo Ashiru, has said that with the advent of technology, sickle cell parents could avoid giving birth to children with sickle cell anaemia. Ashiru in an interview with our correspondent, in commemoration of World’s Sickle Cell day, said it was important for everyone to know their genotypes before going into any relationship that would lead to marriage. He said, “For those who are married and are sickle cell carriers, the danger is that they can have a child with the full blown sickle cell disease. In this age, there should be no reason why they should bring a sickler into the world because there are now technologies available to determine the genetic composition of a baby before the embryo is implanted. “We now have infrastructure in Nigeria which
The Vice President, Prof. Yemi Osinbajo, says the growth of the Nigerian economy will mostly be driven by technology and not the oil and gas industry. Osinbajo made this known at the unveiling of PricewaterhouseCoopers’ Innovation Experience Centre in Lagos on Wednesday. The Vice President, who was represented by the Director-General of the Budget Office, Ben Akabueze, said the centre was in line with the present administration’s plan to improve the ease of doing business, transform the economy and boost technology adoption. “The PwC Experience Centre is in line with the smart technology initiative of the government. As an administration, we recognise that Nigeria’s future does not lie in oil and gas but more in technology and innovation. This is anchored on moving the economy
Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests At a special event highlighting the partnership between the African Development Bank (www.AfDB.org) and Korea held on the sidelines of the Bank’s Annual Meetings, the role of drone technology to boost food productivity in Africa, was on full display. A pilot project, underway in Tunisia, is designed to reduce food imports. Drone technology is being used to collect and analyse data, and monitor irrigated areas, combat pests. The Bank launched the project, in cooperation with the Busan Metropolitan City in Korea with support from the Korea-Africa Cooperation fund (KOAFEC). The session in Malabo included Korea’s ambassador to Equatorial Guinea H.E Kwak Ji Hwan, Korean technical experts
Facility management experts have advocated the need to deploy emerging innovative technologies as better tools to boost customer experience and improve business relationships. They argued that finding innovative ways to improve customer relationship was integral to the success of businesses, noting that businesses in Nigeria still face challenges in their approach to customer feedback, especially as the country parades the largest population in Africa. Executive Director, Eliezer Workplace Management, David Korede, speaking at a news conference in Lagos, said customer service in Nigeria, which was the most-talked about concept a couple of years ago, led to better customer relationship. According to him, such approach worked for those businesses across all sectors, but the devi...
It sounds like Facebook has persuaded a suite of heavyweight companies to get involved in its secretive blockchain project. The Wall Street Journal is reporting that the Silicon Valley technology giant has enlisted a number of high-profile firms including Uber, MasterCard , Stripe , Visa , and Booking.com to support its new cryptocurrency. For the last year or so, a team of dozens of Facebook employees have been working on applications for blockchain, the buzzy technology that underpins digital currency bitcoin and other cryptocurrencies, to figure out how Facebook could utilize it. According to multiple reports, the company has been creating its own digital currency, and intends to officially announce it next week. Uber, Stripe, and the others are reportedly investing $10 m...