Technology
Nokwary Technologies Wins 2020 Ecobank Fintech Challenge
By Dipo Olowookere
The 2020 edition of the Ecobank Fintech Challenge has been clinched by Ghanaian firm, Nokwary Technologies, after impressing the judges the most from the 10 finalists picked for the event.
With the win, the company, after being inducted into the Ecobank Fintech Fellowship programme to explore commercial partnerships with the pan-African banking giant, will get the $10,000 cash prize.
Nokwary is a fintech that uses artificial intelligence (AI) to promote financial inclusion. Its AI-Powered banking solution offers an opportunity for users to carry out transactions in a language to which they are familiar with using popular social media channels like WhatsApp.
At the event live-streamed from Ghana, Ukheshe Payment Solutions and Growth Factor Technologies were the first and second runners-up respectively and received $7,000 and $5,000 apiece for the efforts.
Ukheshe, a South African firm, provides a bridge between the card and the cash economy. It has created the world’s first card acceptance platform that allows unbanked merchants/traders to accept and make digital payments.
For Growth Factor, a company based in Ghana, it provides trade financing solutions designed for Micro-Small/Medium Entities (MSMEs) in order to encourage financial inclusion and growth. Its Nvoicia solution solves cash flow issues caused by delayed payments for SMEs, by enabling them to get paid in 24hrs when dealing with credit clients.
Commenting on the event, the Group CEO of Ecobank, Mr Ade Ayeyemi, congratulated the winners for their innovation and welcomed all the 2020 fellows.
He said, “The quality of the products and pitches we saw in the final this year was amazing. Clearly, it is evident that banking in Africa is moving onto a new dimension with these Fintechs leading the way; that is why we are so proud to have had them in this year’s competition and are excited to engage further with them over the next year.
“It is our expectation that we will build a few lasting partnerships which will help improve the lives of Africans all over the continent.”
On his part, the CEO and co-founder of Nokwary Technologies, Mr Dennis Asamoah Owusu, expressed his excitement for the victory, saying, “I was beyond excited.
“Our company is rather young and to be recognized like this on such a stage was really exciting as well as a validation for our focus on creating inclusive technology right from the start.
“It is also very encouraging to note that a major bank like Ecobank places such a premium on inclusion and is willing to back and promote innovative and cutting-edge technologies towards that purpose.
“We are looking to work together with Ecobank to bring an AI-first digital banking platform over WhatsApp, as well as other innovative solutions to Ecobank’s customers.”
This year’s finalists made it through an extremely competitive pool of over 600 applicants across Africa, Europe, North America and Asia.
All 10 finalists have officially been inducted into the Ecobank Fintech Fellowship, a one-year program which will give them the opportunity to explore opportunities for commercial partnerships with the Ecobank Group and to possibly launch and scale products across the lender’s 33-country markets in the continent.
Technology
Equinix to Splash $22m on LG3 Data Centre in Lagos
By Modupe Gbadeyanka
A new high performance data centre is expected to be built by Equinix in Lagos. It will be named LG3, a statement from the digital infrastructure company disclosed.
The project, it was revealed, will gulp about $22 million. The data centre will support global connectivity to West Africa with Equinix Fabric.
It is the first phase of an ambitious investment plan of around $100 million aimed at transforming Africa’s digital landscape over the next two years.
Set to open in Q1 2026, the new site will deliver vital new infrastructure to Nigeria empowering local businesses to scale, while drawing international companies to the country in this strategically positioned hub for global connectivity.
The addition of the new LG3 data centre in Nigeria also brings the incorporation of Equinix Fabric into the metro, enabling businesses to securely connect their physical and virtual infrastructure to cloud service providers, partners, and other companies to other Equinix locations all around the world.
Nigeria is the second-largest economy in Sub-Saharan Africa. It is home to a vibrant and increasingly tech-savvy population. Lagos, in particular, is at the epicenter of Africa’s digital transformation, recognised as the only African city in the Global Top 100 Startup Ecosystems.
The Managing Director for West Africa at Equinix, Mr Wole Abu, said, “LG3 marks a significant milestone in Equinix’s long-term commitment to bridging Africa’s digital divide.
“As Lagos emerges at the crossroads of talent, innovation, and global connectivity, this facility is accelerating access to technologies like cloud, AI, and the next wave of startups.
“We’re not just building data centers, we’re fostering growth, empowering innovation, and laying the groundwork for an interconnected African economy ready to lead on the global stage,” he stated.
Also, the Managing Director of Cedarview, Mr Olawale Owoeye, said, “Equinix’s Lagos data centre will provide us with the robust and resilient platform our customers demand to expand our digital footprint. The unparalleled reliability and access to a global ecosystem empower us to deliver high performance solutions to our customers and the new LG3 data center in Lagos is key step in ensuring we remain at the forefront of businesses connecting Africa.”
The Vice President for EMEA Growth & Emerging Markets at Equinix, Aslıhan Güreşcier, said “Africa’s digital transformation is accelerating, driven by a young population, rising internet access, and increasing demand for secure data infrastructure.
“With the opening of our newest data centre in Lagos, Equinix is proud to invest in this dynamic region, supporting our customers’ growth with world-class data centres that power everything from banking and education to emergency services and commerce.”
With a footprint spanning over 270 data centers worldwide, Equinix is continuing to bring its global expertise and infrastructure to the region. This includes harnessing Nigeria’s strategic position as an international hub for global subsea cable connections, linking Africa with Europe, Asia, and beyond.
Technology
NVIDIA Invests in Cassava Technologies for Expansion
By Modupe Gbadeyanka
A leading Artificial Intelligence (AI) computing firm, NVIDIA, has made an undisclosed investment in Cassava Technologies.
NVIDIA joins Cassava’s impressive roster of investors comprising Econet Group, British International Investment, DFC, Finnfund, Fund for Export Development in Africa (Afreximbank/FEDA), Gateway Capital, Google LLC, International Finance Corporation (IFC), Public Investment Corporation and Royal Bafokeng Holdings.
Cassava operates across Africa, the Middle East and Latin America through a strong portfolio of business units comprising Liquid Intelligent Technologies, Africa Data Centres, Liquid C2, Cassava.ai, and Sasai Fintech, all of which are leaders in their respective sectors.
The organisation will continue collaborating with its partners and customers on the continent and beyond, establishing it as a leading technology company of African heritage.
“Cassava is Africa’s leading technology company, driving the continent’s digital transformation with digital infrastructure and digital services.
“Securing this investment is an important milestone that we expect to unlock additional value from and catalyze the further expansion of our digital infrastructure and services to bridge the digital divide on the continent,” the chief executive of Cassava, Mr Hardy Pemhiwa, stated.
Technology
Airtel Africa Foundation Boosts Digital Skills Development in Rwanda
By Aduragbemi Omiyale
To deepen access to smartphones and digital services for underserved communities, Airtel Africa Foundation has joined forces with others to train some persons in Rwanda.
This aligns with Rwanda’s ambition to become a knowledge-based economy and complements national programmes such as Connect Rwanda.
The organisation is collaborating with the International Telecommunication Union (ITU), Rwanda Information Society Authority (RISA) and Cisco on capacity and digital skills development under the Digital Transformation Centres (DTC) Initiative.
The parties will bridge the digital divide and promote digital inclusion by providing free Internet connectivity and digital skills training to underserved communities in the country, in connection with the advancement of the 2030 Agenda for Sustainable Development.
ITU will provide digital skills training content to the DTCs under the Initiative along with other ITU regional capacity development activities. In addition, ITU will facilitate networking opportunities related to promoting digital literacy and inclusion, which will enable access to expertise and best practices.
It was disclosed that Airtel Africa Foundation, through Airtel Rwanda, would equip DTC locations with routers, Wi-Fi and data packages at no cost, ensuring the effective rollout of training and access to digital educational platforms.
According to the chief executive of Airtel Rwanda, Mr Sujay Chakrabarti, the collaboration marks a significant step forward in bridging the digital divide and empowering Rwandan youth with digital skills.
He described the partnership as “a powerful example of what happens when government, private sector, and international organizations come together to empower communities.”
“This partnership reflects our commitment to supporting national development goals and closing the digital divide through meaningful collaboration,” said the Head of Programs at Airtel Africa Foundation, Ms Esi Asare Prah, said on behalf of the chairman of the foundation, Mr Segun Ogunsaya.
“We are honoured to partner with ITU to bring this vision to life and contribute to Rwanda’s journey toward becoming a digitally empowered society,” he added.
Also, the Regional Director for International Telecommunication Union (ITU), Mr Emmanuel Mannaseh, said, “Our partnership with Airtel Africa Foundation begins in Rwanda, where we are joining forces to strengthen digital skills in underserved communities to advance connectivity. This initiative lays the groundwork for broader regional collaboration, as we aim to expand this work to other Digital Transformation Centres across Africa.”
On his part, the chief executive of Rwanda Information Society Authority (RISA), Mr Antoine Sebera, said, “What we are seeing here today is partnership in action. Statistics show that 900 million people in Africa remain unconnected, extra effort needs to be made to make sure that no one is left behind.
“This positions Rwanda a step ahead by being intentional to involve the youth. These centres are going to play a transformative role in educating the youth to leverage AI. Digital Transformation is driving the world and Africa or Rwanda cannot be left behind.”
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