Technology
Nigeria’s Fintech Revenues to Record 12% Growth Yearly—McKinsey

By Adedapo Adesanya
Revenues from Nigeria’s financial technology (fintech) sector are expected to grow by 12 per cent per year until 2025 backed by an influx of funding and increasingly supportive regulatory frameworks.
This was disclosed in a report published by McKinsey which claims that Africa’s financial-services market could grow at about 10 per cent per annum, reaching about $230 billion in revenues by 2025.
According to the report, the success of fintech companies in Africa is fueled by several trends, including increasing smartphone ownership, declining internet costs, expanded network coverage, and a young, fast-growing, and rapidly urbanizing population.
The report further noted that the COVID-19 pandemic has accelerated existing trends toward digitalization and created a fertile environment for new technology players, even as it caused significant hardship and disrupted lives and livelihoods across the continent.
“Our analysis shows that fintech players are delivering significant value to their customers. Their transactional solutions can be up to 80 per cent cheaper and interest on savings up to three times higher than those provided by traditional players, while the cost of remittances may be up to six times cheaper.
“Taken together with an influx of funding and increasingly supportive regulatory frameworks, these factors could signify that African fintech markets are at the beginning of a period of exponential growth if, as expected, they follow the trajectory of more mature markets such as Vietnam, Indonesia, and India.”
While the lion’s share of value in the market (approximately 40 per cent of revenues) is currently concentrated in South Africa, which has the most mature banking system in the continent,
On the emerging markets, the report noted that Ghana and francophone West Africa are expected to show the fastest growth, at 15 per cent and 13 per cent per annum, respectively, until 2025.
Nigeria and Egypt follow, each with an expected growth rate of 12 per cent per annum over the same period.
The report concludes that growth opportunity in fintech is likely to be concentrated in 11 key markets: Cameroon, Côte d’Ivoire, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Tanzania, and Uganda, which together account for 70 per cent of Africa’s GDP and half of its population.
Technology
Airtel Activates AI-Powered Spam Alert Service for Customers

By Dipo Olowookere
A leading provider of telecommunications and mobile money services across 14 African countries, Airtel Africa Plc, has increased its range of Value-Added Services (VAS) for customer with the introduction of a ground-breaking artificial intelligence (AI)-powered Spam Alert Service.
The Airtel AI Spam Alert Service will be available to all subscribers of the GSM provider at no cost. It gives real-time alerts for suspected spam SMS messages and malicious weblinks sent to Airtel smartphone and feature phones.
In addition, it filters all SMS through a proprietary dual-layer protection: one layer at the network level and the other at the IT systems level, processing over 1.5 billion messages in 2 milliseconds.
At the launch of this service on Thursday in Lagos, the chief executive of the Nigerian Communications Commission (NCC), Mr Aminu Maida, commended Airtel for this innovation, saying, “The Airtel Spam Alert Service is of obvious benefit to the entire sector.”
“Security is one of the major challenges to subscribers and such an innovative service from Airtel helps us tackle this issue while boosting consumer confidence,” he declared.
The Minister for Communications, Innovation and Digital Economy, Mr Bosun Tijani, also praised Airtel for its continued investment in Nigeria’s technology ecosystem and for specifically investing in a service that is geared towards enhancing online security for millions of Nigerians.
“As we expand our digital infrastructure and prioritise digital literacy, solutions like Airtel AI Spam Alert Service will enforce the importance of leveraging artificial intelligence, not only for security but also for economy empowerment,” he stated.
On his part, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, said, “Enhancing customer experience is our foremost priority, and we are proud to launch Africa’s first AI powered spam alert solution.
“This is a gamechanger for the telecoms industry in Africa and as we move forward, we will continue to address customer challenges through proactive tech-driven solutions.
“We are proud to launch this innovative initiative in Nigeria, our largest market in Africa, while the other countries will launch in the coming months.”
Airtel explained that it came up with this service, which does not require additional application downloads, as part of its efforts to protect its customers.
The Airtel AI Spam Alert Service, which is automatically activated for all Airtel customers in Nigeria, would be subsequently rolled out across other countries where Airtel Africa operates.
According to research from Quartz, as of 2019, nine of the top 20 countries in the world with the highest spam rates are in Africa.
With Africa’s smartphone penetration on the increase, spam messages have become a widespread issue, targeting an expanding demographic of unsuspecting individuals.
Hundreds of thousands of mobile users often receive unsolicited SMS or calls claiming to be from their network provider or government and offering irresistible benefits.
In these communications, users are asked to click on links and provide personal information to claim the benefits. This action allows the scammer to gain access to users’ security information, which can then be used to commit fraud.
In response, Airtel Africa developed this innovative AI-powered solution that classifies suspicious SMS messages as Suspected SPAM.
Without reading specific SMS messages, the AI analyses in real-time over 250 parameters, including the sender’s usage patterns such as SMS frequency and geographical spread of targets.
Technology
Moniepoint Increases Interns for Women in Tech Initiative to 15

By Aduragbemi Omiyale
The number of interns for the 2025 edition of the Women in Tech initiative of Moniepoint Incorporated has been increased to 15 from 10 in the spirit of the theme of this year’s International Women’s Day (IWD), Accelerate Action.
A statement from the digital financial services provider disclosed that expansion was to further its commitment to bridging the gender gap in the technology sector.
It is also a testament to Moniepoint’s dedication to offering young women the tools they need to succeed in technology, a field where they are still underrepresented but essential to its evolution.
The program is a vital part of Moniepoint’s ongoing efforts to elevate women in the technology space, particularly in Nigeria, where women remain underrepresented despite the country’s significant gender parity in population.
The initiative will provide successful applicants with the chance to join diverse teams, including Cloud Engineering, Backend Engineering, Technical Product Management, Data Engineering, Systems Administration, Technical Support, and User Experience.
Known as the Dream 15, these women will engage in a six-month internship, during which they will receive direct mentorship, a salary, work tools, branded merchandise, and the opportunity to be considered for full-time employment based on performance.
“With the Women in Tech initiative, we are not just inspiring inclusion – we are actively creating sustainable pathways for women to thrive in the tech industry.
“This is a space where diversity fuels innovation, and through programs like this, we are empowering women to take on leadership roles, develop crucial skills, and shape the future of technology.
“The progress we’ve seen in past editions, where alumni have gone on to make significant contributions to the company and the wider tech ecosystem, fills us with pride, and we look forward to nurturing even more female talent in the years ahead.
“This initiative has been instrumental in our mission to power the dreams of millions while transforming the careers of talented women for the past four years,” the Vice President of People Operations at Moniepoint, Ms Chinaza Nduka-Dike, stated.
Also, a systems administrator and member of the third cohort of Moniepoint’s Women in Tech program, Ms Daniela Uzosike, said, “The opportunity to work with Moniepoint not only transformed my career but also allowed me to be part of a program that truly values the potential of women in technology.
“I’m thrilled to see the increase in roles this year, and I’m excited to see more women take part in this initiative, gain the experience they need, and shape the future of tech in Africa.”
The technology sector is essential to driving growth and innovation, but the role of women within it remains limited.
Recent statistics from the Nigerian Bureau of Statistics (NBS) reveal that while women make up nearly half of Nigeria’s population, they account for just 25 per cent of the tech workforce, despite representing 22 per cent of STEM graduates annually.
These disparities highlight the need for more focused efforts to increase female representation and foster gender inclusion in the tech industry.
The Women in Tech initiative aims to address these gaps by providing young women with hands-on experience, mentorship, and the opportunity to work on live projects that will shape the future of digital finance in Africa.
Technology
D24 Introduces Innovative Fintech Solutions

By Modupe Gbadeyanka
D24 Fintech Group has unveiled an impressive catalogue of financial technology solutions designed to change the way finance works in the digital age.
These innovative solutions range from blockchain development to multi-asset trading, as well as web3 integration and development, wallet infrastructure, and white-label services.
Through its affiliates operating in over 100 countries and partnerships with leading financial institutions and governments, D24 is driving digital transformation on an unprecedented scale.
“At our organization, we are not just adapting to change but rather progressing it; we don’t just follow digital transformation—we drive it forward.
“Our technology is designed to bridge the gap between traditional and modern digital finance. By doing so, we provide technology solutions that assist organizations in digital finance operations globally,” the chief executive of the company, Mr Vincent de Cannière, stated.
“Due to the popularity and demand of our solutions, our presence extends into key financial markets across Europe, Asia, the Middle East, and Africa, where we collaborate with banks, regulatory bodies, and digital asset platforms.
“Every year, we establish organizational goals that align with our philosophy, aiming to provide the best possible service,” he added.
Mr Cannière noted that, “With a growing presence in key markets, we’re committed to operating in full compliance with global financial regulations.
“Our solutions are developed with a strong emphasis on regulatory alignment, security, and transparency to support evolving financial markets.
“We encourage businesses and institutions to conduct thorough regulatory due diligence before adopting digital financial solutions.”
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