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Interswitch Wins 2024 Fintech of the Year Award

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Interswitch Fintech of the Year Award

By Modupe Gbadeyanka

An integrated payments and digital commerce company, Interswitch, has added another feather to its highly colourful cap after it clinched the 2024 Fintech of the Year award at the African Fintech Summit (AFTS) Excellence Awards.

The Nigerian firm received the latest accolade at the event, which took place recently in Nairobi, Kenya.

It went home with the award after beating other high-profile fintech firms in the category, highlighting its unwavering commitment to innovation, excellence, and its focus on creating technology solutions that empower individuals, businesses and communities across the continent.

The award recognizes the company’s significant contributions to the fintech industry, including its cutting-edge payment solutions, robust digital infrastructure, and relentless pursuit of customer-centric innovations.

Business Post reports that the Fintech of the Year award recognizes outstanding achievements in fintech, including product innovation, market impact, and overall contribution to the growth of the industry.

“We are honoured to receive this prestigious award,” the founder of Interswitch, Mr Mitchell Elegbe, said of the award.

“It is a testament to the hard work, dedication, and innovation of the entire Interswitch team, and the trust and support of our customers and partners. We remain firm in our commitment to empowering individuals and businesses across Africa through cutting-edge financial technology solutions.

“This award serves as a validation of our efforts to push the boundaries of innovation and create a more inclusive financial ecosystem as we inspire Africa to greatness,” he said.

In 2022, Interswitch was also named Fintech of the Year at the African Banker Awards which was held in Accra, Ghana during the African Development Bank (AfDB) Annual Meetings.

For over two decades, Interswitch has pioneered fintech solutions in Africa, including the launch of Verve Card, a leading domestic payment card in Africa and Quickteller, a popular consumer digital payments platform.

The company continues to evolve and invest in research and development to deliver innovative products and services that meet the evolving needs of African consumers and businesses.

As the Fintech of the Year, Interswitch reiterates its commitment to play a leading role in shaping the future of the African continent. The company is committed to fostering partnerships, investing in talent, and driving digital transformation across the continent.

Since its inception in 2018, AFTS has evolved into a premier gathering of industry leaders, players, innovators, and investors, showcasing the latest advancements in financial technology from across the continent.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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ClimatrixAI, Aframend, 8 Other Startups for Qualcomm Make in Africa 2025

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Qualcomm Make in Africa 2025

By Aduragbemi Omiyale

Ten African start-ups, including two from Nigeria, have been selected for the Qualcomm Make in Africa 2025 for a chance to receive the Social Impact Fund, provided through the Qualcomm® Wireless Reach Initiative. This fund supports startups in scaling their societal and market impact.

One startup will be awarded the fund for its innovative use of wireless technology to address community needs, while the other nine will receive stipends to support their growth and continued development.

In a statement made available to Business Post, it was disclosed that the shortlisted small firms were from approximately 435 applications from 19 countries received this year.

The lucky companies are Aframend for Nigeria, which deals in AI-driven drug discovery with African phytochemicals; AmalXR from Tunisia focusing on AI-powered VR rehabilitation with clinical validation and progress simulations; Archeos from the Benin Republic dealing with Solar/IoT pisciculture automation for optimal water quality and feeding; ClimatrixAI from Nigeria focusing on hyperlocal flood risk prediction and monitoring; and Ecobees from Tunisia, an AI-based beekeeping for hive health, water levels, and climate conditions.

Others are Edulytics from Senegal, which is an AI-based mobile liver fibrosis detection using ultrasound images; Farmer Lifeline from Kenya using solar-powered AI robots for crop pests and disease detection; Pixii Motors from Tunisia dealing in electric scooter with AI/IoT battery optimization and swap stations; Pollen Patrollers from Kenya using AI/IoT based precise and healthy pollination to combat hive collapse; and Solar Freeze also from Kenya using solar-powered IoT cold storage to reduce post-harvest food loss.

The SVP and president of Qualcomm for MEA and SVP for Government Affairs at EMEA, Wassim Chourbaji, in the statement was quoted as saying, “This year’s cohort of deep technology startups is a testament to Africa’s burgeoning innovation landscape.

“By leveraging Qualcomm’s cellular, IoT, and edge-AI technologies, these startups are poised to revolutionize agriculture, sustainability, climate change, transportation, and healthcare. We are honored to support their journey toward creating transformative solutions for a better future.”

The Secretary General of the African Telecommunications Union (ATU), John Omo, while also commenting, said, “ATU is proud to partner with Qualcomm on the 2025 Make in Africa program.

“Innovation is the engine of Africa’s future, and it is clear the ten startups in this year’s cohort exemplify its power. While ATU works to align spectrum policy, regional standards, and open-data practices so that new technologies move quickly from lab to market, we also recognize that real progress demands a broad coalition.

“We, therefore, call on governments, academia, investors, and industry to back these ventures—and every initiative that puts African ingenuity first.”

The Qualcomm Africa Innovation Platform is currently in its third year. The programme supports the development of Africa’s deep technology ecosystem by providing mentorship, and technical, business and IP training programs with a focus on 5G, Edge-AI/ML, Compute,

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Unlocking Competitive Advantage: The Critical Role of Data Management in Today’s Business Climate

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Berkeley Data Strategists

In an era defined by digital transformation and rapid technological advancement, data has emerged as one of the most valuable assets an organization can possess. From driving operational efficiency to enabling strategic decision-making, data management is no longer a luxury—it is a necessity. Yet, in many regions such as Nigeria, this understanding has yet to fully take root.

Globally, forward-thinking organizations are treating data as a strategic asset, building data-driven cultures, and investing in robust governance frameworks to ensure data quality, security, and utility.

Chief Data Officers (CDOs) are increasingly becoming key figures in the C-suite, responsible for overseeing data governance, compliance, analytics, and innovation.

However, in Nigeria—a country with a rapidly expanding digital economy—only four banks have appointed a CDO, highlighting a significant gap in data leadership and awareness.

This gap presents both a challenge and an opportunity. Without sound data management practices, organizations risk regulatory penalties, reputational damage, and operational inefficiencies.

On the flip side, those who invest in proper data governance, data quality, metadata management, and master data strategies can unlock significant value and build a sustainable competitive advantage.

Berkeley Data Strategists: Leading the Change

Berkeley Data Strategists is proud to be at the forefront of this transformation. We are currently engaged with First Bank of Nigeria to empower their data team through the globally recognized Certified Data Management Professional (CDMP) program.

This initiative provides practical, best-practice-based training aligned with DAMA-DMBOK2 standards, equipping First Bank’s team with the tools and knowledge to build a mature, agile, and secure data environment.

This partnership is a bold step in the right direction, positioning First Bank as a leader in data governance maturity within the Nigerian financial sector. By investing in CDMP certification and embedding best-in-class practices, First Bank is setting a benchmark for other institutions to follow.

A Call to Action for Nigerian Banks

We urge all banks and financial institutions across Nigeria to follow First Bank’s lead. The risks of poor data management are simply too high—and the benefits of getting it right are too great to ignore.

Whether your organization is at the beginning of its data journey or seeking to elevate its existing capabilities, Berkeley Data Strategists is here to support you with tailored frameworks, expert-led training, and hands-on implementation support.

Contact us today to learn how we can help you transform your data into a trusted, strategic asset—because in today’s world, data is not just an IT issue—it’s a business imperative.

For consultation, training, and CDMP certification support, reach out to Berkeley Data Strategists at [email protected] or visit www.berkeleydatastrategists.com.

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NASENI to Adopt ‘Nigeria First Policy’ in Science, Technology

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NASENI

By Adedapo Adesanya

The National Agency for Science and Engineering Infrastructure (NASENI) will adopt President Bola Tinubu’s Nigeria First Policy in science and technology to drive local entrepreneurs, manufacturers, and innovators.

The Vice Chairman of NASENI, Mr Khalil Halilu, described the policy as a bold move toward accelerating Nigeria’s industrial revolution and economic growth.

In a statement by NASENI’s Director of Information, Mr Segun Ayeoyenikan, on Monday in Abuja, he commended the directive to the Bureau of Public Procurement (BPP) to revise and enforce guidelines favouring local suppliers, emphasising that increased government patronage of Nigerian-made goods would drive demand across critical sectors.

Mr Halilu called the policy forward-thinking and revolutionary, noting that NASENI had long championed local content through its initiatives.

He cited examples of Nigerian-assembled vehicles, energy systems, smart irrigation tools, and electronic devices as proof of the competitiveness of local manufacturing.

He also highlighted NASENI’s ongoing Made-in-Nigeria Strategic Focus Group meetings, which aimed to identify challenges and promote solutions to improve consumer trust in local products.

“We are determined to be at the forefront of implementing the President’s vision,” Mr Halilu said, urging local producers to maintain high standards.

He ended by affirming NASENI’s readiness to lead the charge: “We have seen the capacity and competence of our local manufacturers, they are ready.”

President Tinubu’s protectionist Nigeria First Policy has been hailed by many quarters to boost local capacity; however, critics have lamented that such policies don’t take into account Nigeria’s supply gaps in order to meet the demand, which could lead to higher cost of production and prices for consumers.

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