ECOBANK OPENS A BIG PRODUCT PARTY WITH FINTECH SANDBOX FOR AFRICA
In the past, banks felt it was a privilege for anyone to come over to work with them. Yes, provided there was no mechanism to interact and connect at scale, customers would be tethered to their exclusive ecosystems.
The fintechs emerged and are now evolving rapidly across all domains. Now, banking institutions which want to play at the edges of the smiling curve are finding ways to make their ecosystems the platforms of choice. The massive level of dislocation and disintermediation is huge that some banks now understand that a redesign would be necessary: making things easier for these new species of companies would help, after all.
Ecobank Group wants to begin the party and has launched a fintech sandbox to allow partners and fintech companies in 33 African countries to gain access to its API (application programming interface).By gaining access to the API, these companies would engineer new financial solutions. And if that happens, everything would be in the Ecobank world of commerce in Africa. Flutterwave, Esicia, Callme2Work and Africa’s Talking are companies selected for the pilot. If this type of party advances, that my dreamed fintech product will be built to unify African payment ecosystem very soon.
Ecobank Group launches Pan-African Banking Sandbox Lome, January 27th 2020 – The Ecobank Group announced today the pilot launch of its Pan-African Banking Sandbox. The Sandbox will allow Partners and Fintechs to access Ecobank’s Application Programming Interface (APIs) for the development of innovative solutions for the 33 African countries where it operates.
The sandbox signals a deepening of Ecobank’s commitment to working with African fintechs in furthering digital banking across the continent. This follows the leading Pan African Banking group’s appointment of a Group Senior Fintech Advisor in 2019. With these notable actions, the annual Ecobank Fintech Challenge is evolving beyond a competition to a marketplace of fintech solutions.
The Group CEO, Mr. Ade Ayeyemi emphasises that: “The sandbox is yet another indication that Ecobank firmly believes that digital banking is the future and the future is now. Hence our commitment to lead Africa into the new age of banking.
Group Senior Fintech Advisor, Djiba Diallo stressing the significance of the sandbox noted that “It will create a great avenue for collaboration between Ecobank and Fintechs, give Fintechs the chance to further innovate while developing the capacity of the wider fintech ecosystem on the continent.” Five African Fintechs have been pre-selected for the pilot launch: â— InTouch (Senegal): Provides merchants and businesses with unique solutions to accept different payment providers whilst distributing an extensive catalog of digital services across multiple countries.
• Flutterwave (Nigeria): A leader in payments in Africa, providing reliable payments solutions for businesses globally.
• Africa’s Talking (Kenya): A unified API platform for software developers in Africa building SMS, USSD, Voice, Payments and Airtime applications.
• Callme2Work (Kenya): A one stop platform connecting specialists across a wide range of expertise to clients
• Esicia Ltd (Rwanda): A software development and system integration provider – digitizing business processes for institutions across the public and private sectors.
CHINA ORDERS REPLACEMENT OF ALL FOREIGN PC HARDWARE AND OS
China wants to be weaned of foreign hardware and OS when it is moving around the world with its 5G technologies, etc, expecting people to buy those. Trump may be right on certain things on this trade war his country has with China
China has ordered the replacement of all foreign PC hardware and operating systems in state offices over the next three years, according to a report in the Financial Times. The government has previously ordered purges of western software, but they were more limited or related to certain security issues.
This time, the goal includes hardware as well, with tens of millions of devices targeted for replacement.
ZIDO GROWING RAPIDLY, DEPLOYS ALLVIEW TECHNOLOGY TO RESHAPE NIGERIAN LOGISTICS SECTOR
When you meet great builders, you know right away. @Samuel is doing an amazing job in Zido, Nigeria’s only inter- and -intra logistics company. Yes, Zido helps you move things across states and also helps you move things within cities. With the largest fleet of “keke” (tricycle) in Africa, Zido has figured out how to make first- and last-mile delivery rock while also handling long distance deliveries. Zido is experiencing triple-digit growth.
Zido was the old Matatu. Then, we got into Zido as strategic investors. I told Sam that because I slept and woke up struggling to spell or pronounce the name, we needed to refresh it. Within weeks, new playbooks were invented and Samuel started executing them. By Q4 2019, after signing big contracts with core clients, Zido went to bring about 200 buses mainly for delivery in Nigeria.
This week, Zido elevates, after signing a monster major long-term contract to serve a global company in Nigeria. Zido is Africa’s DNA of logistics. I am proud of what our team is doing in Zido.
If you or your company has goods to ship, or you have trucks or buses which can be used for logistics, Zido would like to have them in its platform. We are building a logistics platform with AllView technology which uses IoT to offer industry-leading transparency and visibility on shipment.
AIRTEL AFRICA NINE MONTHS RESULTS: REVENUE GROWTH, STABLE OPEX, REDUCING LEVERAGE, EBITDA EXPANSION … RECIPE FOR TRUE VALUE
Airtel continues to show positive momentum as the company delivered sustained growth across Voice, Data and Mobile Money along with achieving a 100 million customer milestone in July across its footprints.
In the words of the Chief Executive Officer, Raghunath Mandava:
“Revenue growth accelerated in Q3 to 14.2% as a result of improved performance in the Rest of Africa, supported by solid results in Nigeria and East Africa. This is now the eighth consecutive quarter that we have delivered double-digit revenue growth and EBITDA margin expansion in constant currency.
Revenue growth continues to be broad-based across voice, data and mobile money. We have continued to add customers, up 9.4% this quarter, contributing to an increase in voice revenue. We are also increasingly seeing the success of our strategy to lead in the roll-out of our modernised 4G networks, with more than 40% increase in data revenues for the quarter.
Alongside this, a focus on increasing the number of use cases through international partnerships for our mobile money offer as well as increasing the distribution footprint have helped gain further acceptance of airtel money”
- Customer base grew by 9.4% to 107.1 Mn
- In constant currency terms, revenue grew by 12.4% during the nine-month period
- Growth was recorded across all services, with revenue in Voice, Data and Mobile Money up by 3.9%, 39.0% and 40.4% respectively in constant currency
- Operating profit increased by 21.3% and was up 23.7% in constant currency
“On a market specific basis, Nigeria has been leading our growth with double digit voice revenue growth and over 70% data growth as a result of our lead in 4G rollouts and the huge data capacities we are creating.”
In the Q3/9 months ended 31 December 2020, Airtel recorded the following in Nigeria:
- Revenue increased by 23.4% (Q2: 23.2%)
- Voice revenue grew by 13.9% (Q2: 13.1%)
- Data revenue was up by 75% (Q2: 75.7%) (largest contributor to revenue growth)
- Data revenue now accounts for 31.6% of Airtel Nigeria revenue
This is the 8th quarter of double-digit growth with EBITDA margin expansion across its footprints.
This performance sends a strong message to investors that Airtel has the ability to consistently grow in double digits, powered by growth engines of Data and Airtel Money.
At Capital Bancorp, we believe the company can sustain the momentum considering its consistent revenue growth, stable OPEX (operating expense), reducing leverage and EBITDA expansion.
WRAGBY NIGERIA WINS MICROSOFT PARTNER OF THE YEAR, UNVEILS WBIZMANAGER FOR SMEs
Wragby, winner of many global technology awards, has developed an ERP solution for Small businesses called wBizManager (Wragby Business Manager), to bridge this gap in the SME market space. wBizManager is an integrated suite of application that manages business processes such as sales, purchasing, accounting, human resources, customer support, CRM and inventory developed for SME.
This is truly SME-ready at less than $3 monthly subscription with 24/7 customer support.
Wragby Team won the 2019 Microsoft Partner of the Year.
The impact of technology on enterprises, large or small, is inescapable. Research shows that adopting critical technologies is one of the foremost factors propelling businesses forward, especially when easily available at a cost effective price.
However, when it comes to SMEs (small and medium scale enterprises), the story is starkly different, especially in our region, as just a few use digital technologies for business growth.
Looking at the key business goals of any SME which include improving revenue growth, increasing employee productivity, and acquiring more customers, all of which can be successfully addressed by technology; but often, the scale of investment for such solutions seems overwhelming, especially since top technology trends are developed for larger enterprises.
Wragby Business Solutions and technologies Limited, a relentless team of acclaimed world professionals, developed an ERP solution for Small businesses called wBizManager, to bridge this gap in the SME market
wBizManager Solution is an integrated suite of application that manages business processes such as sales, purchasing, accounting, human resources, customer support, CRM and inventory developed for SME.
Some of the key benefits of this solution include the fact that it is cloud Based, cost-effective (subscription is low as NGN 1,000 subscription monthly) and availability of 24/7 In-Country Expert Support.
For more information, kindly visit our website
Wragby Business Solutions and Technologies limited with its pedigree of firsts, remains at the forefront of technological innovations through the consistent delivery of trail-blazing solutions that guarantee their customers optimum productivity.
- ECOBANK OPEN A BIG PRODUCT PARTY WITH FINTECH SANDBOX FOR AFRICA
- CHINA ORDERS REPLACEMENT OF ALL FOREIGN PC HARDWARE AND OS
- ZIDO GROWING RAPIDLY, DEPLOYS ALLVIEW TECHNOLOGY TO RESHAPE NIGERIAN LOGISTICS SECTOR
- AIRTEL AFRICA NINE MONTHS RESULTS: REVENUE GROWTH, STABLE OPEX, REDUCING LEVERAGE, EBITDA EXPANSION …. RECIPE FOR TRUE VALUE
- WRAGBY NIGERIA WINS MICROSOFT PARTNER OF THE YEAR, UNVEILS WBIZMANAGER FOR SMEs