Business

Alert Microfinance Bank has established a collaboration with Nigeria Consumer Credit Corporation to expand lending services throughout the country, combining institutional funding capacity with operational infrastructure, including branch networks and risk management systems. The partnership supports the AlertXpress Credit Card, a Verve-branded revolving facility powered by Interswitch that enables real-time credit decisions and repayment tracking…

PalmPay has executed the inaugural live payment on Nigeria’s National Payment Stack infrastructure through a partnership with Wema Bank, establishing operational capability for the settlement system developed by the Nigeria Inter-bank Settlement System authority. Premier Oiwoh, managing director of NIBSS, acknowledged the fintech operator’s contribution to implementing the platform designed to accelerate transaction speeds while…

ITH Holdings has relaunched its Zojapay payment platform with enhanced reward features and expanded service capabilities, targeting Nigerian consumers seeking value from routine transactions. Chief executive Olusegun Enitan Dada indicated the redesigned system transforms bill payments into opportunities for savings through cashback incentives, discounts, and subscription bundles covering electricity, telecommunications, entertainment, and internet services. The…

EDGE and Viettel Group have established a framework for potential cooperation in defense technologies and advanced systems through an agreement signed at the Dubai Airshow. The understanding between the advanced technology conglomerate and Vietnam’s largest telecommunications organization addresses research collaboration, innovation initiatives, and possible equipment manufacturing arrangements. Omar Al Zaabi, representing EDGE, and Major General…

Vertiv Holdings has agreed to purchase Purge Rite Intermediate for approximately one billion dollars plus performance-based payments reaching 250 million dollars contingent on achieving specific metrics. The infrastructure company expects the transaction to enhance its thermal management capabilities for artificial intelligence data centers requiring liquid cooling systems. PurgeRite specializes in mechanical flushing, purging, and filtration…

Mastercard and Zenith Bank have introduced a payment card targeting underserved Nigerian populations, including low-income individuals previously excluded from formal banking systems. The Essential Debit Card provides both physical and virtual options through branch networks and online channels, offering simplified enrollment procedures and reduced issuance expenses for customers seeking digital transaction capabilities. Nigeria Inter-Bank Settlement…

Nigeria has activated an online platform accepting applications for equity-free venture funding reaching 50 million naira, supporting university students developing innovations across science, technology, engineering, mathematics, and medical disciplines. The Student Venture Capital Grant program requires participants to be enrolled at accredited institutions beyond their second academic year with projects surpassing conceptual stages. Federal education…

Algerian authorities have initiated construction of a backup space communications facility in Bogzol, Al-Madiyah State, intended to provide operational continuity for national satellite systems. Minister of Posts and Wire and Wireless Transport Said Ali Zorouqi oversaw groundbreaking ceremonies for the installation, which will complement the existing Greenery Center through redundant infrastructure capabilities. The 30,000-square-meter complex…

Kenya’s cybersecurity response team recorded more than 842 million threat events between July and September, representing an 81 percent decline from the prior quarter despite persistent attacks targeting government infrastructure and critical systems. Web application vulnerabilities drew over 10 million exploitation attempts focused on credential theft and database compromise, while malware incidents exceeded 31 million…

Cameroon’s telecommunications regulator is participating in a global development conference taking place in Baku, Azerbaijan, where Professor Philémon Zoo Zame leads discussions on digital infrastructure advancement and regulatory frameworks. The gathering at the Baku Convention Center addresses connectivity gaps, online security measures, internet expansion, and technology integration across the agricultural, healthcare, and educational sectors. Representatives…