Governments are trying to regulate blockchain and cryptocurrency and protect their interests and those of their citizens around the world.
In Nigeria, regulators are working on a framework proposal that lays out plans to regulate cryptocurrencies through its Securities and Exchange Commission.
For more perspective, Africa 54 technology reporter Paul Ndiho, via Skype, spoke to Bolaji Onibudo, Founder and President, Xendbit, a Fintech company in Lagos, Nigeria.
The contemporary art in Uganda is dynamic and diverse, packed with extraordinary young talented, passionate artists using their work to reflect the country’s cultural diversity and natural beauty.
Derriq Art studio and gallery is one of the growing numbers of exceptional independent art galleries that are using Art, Science, and Technology to inspire young artists.
Africa 54 technology reporter Paul Ndiho spoke to Derrick Christopher Ntale, CEO and Founder, Derriq art studio and gallery, via Skype.
Rwanda is arguably one of the fastest-growing African countries in I.C.T some analysts say that this is perhaps the government’s ambitious plan to transform the country into a regional High-Tech Hub.
for more perspective, Africa 54’s technology reporter Paul Ndiho, via skype, spoke to Kevine Bajeneza, founder & CEO of n@tcom services ltd. a tech company which equips unemployed youth with essential training, mentoring, practical experience, and job placement as I.T. professionals.
A self-taught engineer in Tanzania is designing Windmills using locally sourced materials to generate power and pump water in rural communities. VOA technology reporter Paul Ndiho has our report.
Cyber-crime and cyber-enabled crime are among the fastest-growing security threats globally, according to the FBI, since the Ccoronavirus pandemic was declared, Cyber crime has increased by some 400 percent. In Nigeria, several internet assisted crimes are committed daily in various forms such as fraudulent electronic mails, pornography, identity theft, hacking, cyber harassment, spamming, piracy, and phishing. But Adedoyin Adedeji, a technology entrepreneur who specializes in cybersecurity, wants to change that narrative. For more insight, Africa 54’s technology reporter Paul Ndiho, via skype, spoke to Adedoyin Adedeji, a tech entrepreneur based in Lagos.
Technology companies have seen a surge in their business’s growth even during crucial times like COVID-19, because of how they have resorted to the effective use of technology in service delivery. In Lagos, Nigeria, “zido logistics,” a company in logistics and supply chain has steadily made its name in the region as the no.1 digital freight broker in Africa. For perspective, Africa 54’s technology reporter Paul Ndiho, via skype, spoke to Samuel Ajiboyede, CEO, zido logistics.
This is a fascinating story about two brothers Boie and Bill, in the Ghanaian capital Accra, who have taken the burgeoning fashion industry by storm.
Combining an array of recycled materials like secondhand jackets picked up from the biggest flea market, broken mirrors and glasses, and African wax prints to create their unique styles. The brothers are generating a buzz. For more, Africa 54’s technology reporter Paul Ndiho, via skype spoke to Ellisha Boie co-founder Boie & bill fashion label, in Accra, Ghana
Rwanda is currently experiencing a quiet digital revolution. Young Rwandans are disrupting the farming sector by providing digital solutions to the myriads of problems and challenges facing small scale farmers.
Spiderbit, a tech startup, and the creator “eHaho,” an eCommerce platform for agricultural products, is connecting farmers to buyers and offering a fresh perspective to an otherwise old peasant farming system.
Rwanda is currently experiencing a quiet digital revolution. Young Rwandans are disrupting the farming sector by providing digital solutions to the myriads of problems and challenges facing small scale farmers.
Spiderbit, a tech startup, and the creator “eHaho,” an eCommerce platform for agricultural products, is connecting farmers to buyers and offering a fresh perspective to an otherwise old peasant farming system.
For more insight, Africa 54’s technology reporter Paul ndiho, via skype spoke Davis Mugira, CEO and founder of Spiderbit in Kigali, Rwanda
The growing use of wealth-technology platforms is signaling a wider investment culture among young Nigerians who are increasingly looking beyond traditional models of saving.
Nigeria’s financial system is open to the new transformations in the financial system, especially the introduction of technology. Wealth management apps like Cowrywise which allow users to automate savings in Naira has become popular by offering savings and investment options with interest rates much higher than what traditional banks offer. Razaq Ahmed, is a Co-Founder of Cowrywise.
“Mutual funds are a solid investment vehicle to broaden that asset class mix on Cowrywise. While this enables millennial’s to invest for the first time, the simplification of the entire process and the varieties of funds on the platform also means existing investors will find it more convenient to use Cowrywise instead of the traditional approach of investing.”
Launched in 2017, Cowrywise, a digital wealth management platform enables access to affordable investment opportunities for everyone in the marketplace, it also helps users save money and enjoy high returns from risk-free investments in Nigeria — with zero fees.
“For example, just about 400,000 Nigerians have invested in mutual funds. The mutual fund industry assets of three years ago were only about two billion dollars and currently just about three billion dollars, which means there’s still a lot that needs to be done. So those indicators point to the fact that the market is hugely under-penetrated, and these young people are extremely undeserved when it comes to investment products.”
While wealth-tech platforms market themselves as available to all comers, their user base is mainly dominated by young professionals who are more tech savvy and trusting of the internet. Razaq also admits younger users hold extra appeal for business.
“Currently we have more than a hundred thousand people who uses Cowrywise regularly and invested in mutual funds and our target market is to reach out to about 10 million people by 2025.”
Cowrywise is partnering with top investment houses such as Meristem and Afrinvest to give Nigerians access to multiple mutual funds all in one app. These mutual funds invest in companies and high-quality fixed income securities.
“Banks have done a bit in terms of making banking services available. For example, there are about 40 million unique bank users in Nigeria. Even though we still have another 40 million Nigerians who have never stepped into the banking hall. So, there is a lot that needs to be done in terms of making financial products available to the mass market.”
Razaq Ahmed says transactions in Nigeria are growing increasingly mobile.
“Young people are obsessed with using smartphones. So, we have about twenty million smartphones in the country currently. And they also can’t do without having access to the Internet. Right. So those three combinations make it extremely easy for us to develop our product in terms of distribution, to target those people.”
Analysts say Nigeria’s savings market is rapidly increasing and by leveraging technology, the wealth management industry could leap-frog legacy issues faced by the same industry in developed markets and possibly have a higher adoption rate than witnessed in other markets such as the United States or Europe.
The gaming industry, as a form of entertainment, in most of Africa is s still its infancy. Still, an increasing number of young Africans are honing their gaming skills intending to build professional careers in the fast-growing industry.
In Rwanda, Guez show studios, creators of VR computer-generated content, is proving that this kind of content has the potential to change the gaming industry. Africa 54 technology reporter Paul Ndiho, via Skype, spoke to up Mufuth Nkurunziza, CEO, and Founder, Guez show animation studios, in Kigali Rwanda.
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