Thursday, February 25African Business News
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Tag: 5G

Mobile industry adds $184 billion to economy as 5G adoption gathers momentum

Mobile industry adds $184 billion to economy as 5G adoption gathers momentum

Technology & Innovation
From the $155 billion it added to the sub-Saharan Africa (SSA) economies in 2019, the mobile industry is expected to increase this to $184 billion by 2024. This is according to the Global System for Mobile telecommunications Association (GSMA) SSA Economy report, presented Tuesday at the ongoing GSM Thrive Africa conference. The body said despite the economic uncertainty brought about by the COVID-19 crisis, operators in the region would invest $52 billion in infrastructure rollouts within the next five years. GSMA noted that the COVID-19 pandemic had a profound impact on the digital landscape in SSA and around the world, adding that the social distancing measures put in place to curb the spread of the pandemic have brought to light the value of connectivity for social and eco...
How forensic accounting can stem Nigeria’s N2.5 trillion yearly fraud loss

How forensic accounting can stem Nigeria’s N2.5 trillion yearly fraud loss

Business
The Society for Forensic Accounting & Fraud Prevention (sfafp) has revealed that Nigeria loses N2.5 trillion yearly to fraud and corruption. For the African continent, the society stated that almost 25 per cent of its budgeted public sector revenue is lost to the same scourge. Speaking during the 4th virtual induction of 192 associates recently in Abuja, Chairman, Iliyasu B. Gashinbaki said the society is poised to turn the page by refocusing on continuous institutional strengthening and capacity building of law enforcement agencies and key Ministries, Departments and Agencies (MDAs). “In addition, more strategic domestic and international partnerships shall be pursued and we will continue to build the capacity of SMEs and Corporations in the areas of internal control processes...