Telecom
Mastercard hosts 2024 Fintech Forum: Fostering Fintech Ecosystem Collaboration and Innovation

In a noteworthy celebration of Nigeria’s dynamic financial technology ecosystem, Mastercard convened key stakeholders at its Fintech Forum on March 20, 2024. The event served as a demonstration of the leading payments technology company’s ongoing commitment to the growth and development of the fintech landscape.
Fast becoming one of the industry’s most anticipated tech gatherings, the forum brought together key representatives from the fintech community, commercial banks, microfinance banks, processors, investors, regulators, and the government, to discuss critical developments and trends in the Nigerian fintech landscape, delve into Mastercard’s strides in facilitating the ecosystem’s growth, and identify potential opportunities within the industry.
Fintech companies have been at the forefront of revolutionizing various industries, serving as powerful vehicles for locally relevant solutions, financial inclusion, and innovative partnerships between financial institutions, governments, merchants, and small and medium-sized enterprises (SMEs), both globally and locally.
This transformative role is underscored by the sustained investment in the industry, with the Nigerian fintech sector witnessing a remarkable surge, receiving over $1 billion in the last two years alone – more than triple the industry’s total figure and accounting for more than one-third of the $2.7 billion invested in African fintech since July 2021.
“Mastercard’s Fintech Forum has become an avenue to advance discussions on the development of the industry in Nigeria, and we are proud to be the vehicles of this change. The discussions this year underscored the pivotal role of collaboration and innovation in shaping the future of Nigeria’s fintech landscape.
“Mastercard remains unwavering in our commitment to power this positive change, offer support, and lead the evolution of the industry,” said Folasade Femi-Lawal, the Country Manager and Area Business Head for West Africa at Mastercard.
The event also featured a fireside chat titled “Mastercard’s Role in Fintech Ecosystem Collaboration”. During this discussion, Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa (EEMEA) at Mastercard, said: “Fintechs continue to stand as the trailblazers, pushing boundaries and reshaping industries. Their penchant for innovation is not just transformative, it is integral to the very fabric of our industry and the broader economy.
“Mastercard, as a driving force, is proud to champion the pivotal role of fintechs, recognizing their significance in fostering economic progress. As a leading technology provider, we will continue to innovate, and support and collaborate with them to drive locally relevant solutions and initiatives for maximized impact.
“We’re committed to being the catalyst that propels the ecosystem forward, facilitating a future where technology empowers individuals, businesses, and economies to participate in the global economy.”
The fireside chat was followed by a panel session titled “Digitization and Its Role in Nigeria’s Economic Development”, during which speakers delved into digitization, its role in enhancing efficiency across all sectors, opportunities, and the importance of balancing innovation and inclusivity to maximize its impact on Nigeria’s economic development. During the session, Nasir Yammama, Senior Special Assistant to the President, Innovation, said: “Nigeria’s digital transformation and ever-evolving fintech and banking landscape presents exciting possibilities.
The ongoing innovation boom acts as the cornerstone for advancing digital public infrastructure, fostering financial inclusion, and propelling economic growth. As always, the government remains committed to creating an enabling environment and collaborating with key industry players to drive more impactful innovations and pave the way for a future where every individual and business can thrive in a digital-first global environment through well-informed, inclusive policies and initiatives.”
Mark Elliott, Division President, Mastercard Sub-Saharan Africa, closed the event and offered insights into the fintech landscape. He emphasised the importance of the fintech industry and highlighted the significance of inclusive innovation and collaboration in driving sustained economic development.
“Mastercard is providing fintechs with the tools, resources, and support they need to thrive in the ever-evolving digital economy. Whether it’s through innovative solutions or strategic partnerships with key players in the industry, Mastercard has demonstrated its commitment to shaping the future of fintech and contributing to the growth and success of the broader ecosystem,” said Mark Elliott, Division President, Mastercard Sub-Saharan Africa.
The Fintech Forum not only celebrated the achievements and advancements in Nigeria’s fintech sector, but also revealed a shared vision among industry leaders, which encompassed a future where strategic collaboration continues to be a driving force for positive change, innovation, and widespread financial inclusion, not only in Nigeria but on a global scale.
Telecom
Elon Musk Launches XChat with Video Calling to Take on WhatsApp, Messenger

Elon Musk’s X (formerly Twitter) has launched a new stand-alone messaging app on iOS devices, called XChat.

Elon Musk
This app will help users connect their existing X contacts for calling, chatting, and sharing files. This move shows how Musk’s previous idea of creating a single ‘everything app’ seems to shift to a different strategy now.
This newly launched app comes with features such as audio and video calling, text messaging, group chats, and file sharing.
Moreover, it features privacy-focused tools like disappearing messages, the option to delete and edit messages for everyone, and a feature that blocks screenshots.
Looking at these features, the XChat seems to take on WhatsApp and Messenger.
However, the tech firm said that the app has no tracking or ads.
In terms of privacy, X claimed that the instant messaging app is end-to-end encrypted and comes with a PIN.
This app is currently available to iOS users only, and more updates are expected in the near future, as teased by Benji Taylor, the X’s lead designer. The launch of this app reflects a shift in Musk’s strategy about turning X into an ‘everything’ app that will include payments, shopping, messaging, and more combined in one place.
However, the focus of xAI seems to be different now as the company seems to be developing several different apps instead of combining everything into one.
This approach may help X to reach users through their various services rather than a single platform.
While XChat focused on messaging currently, the tech firm is also reportedly testing a separate payments system, which is not available to the public so far.
More features and updates to the instant messaging app are likely to be arriving in the coming months as X continues to grow its ecosystem with more apps.
Telecom
Globacom Unveils Two New TVCs Showcasing the Future of Connectivity

Technology Company, Globacom has unveiled two vibrant television commercials, “Road Trip” and “Department of Imagination,” reinforcing the telecommunications giant’s dedication to providing seamless, reliable connectivity for every lifestyle.

These engaging campaigns illustrate how Glo remains an essential partner in both our daily routines and our boldest future aspirations.
“Road Trip” captures a relatable family adventure filled with laughter and authentic moments. The story follows Toyin Abraham Ajeyemi as she experiences the frustration of poor signal—only to find that switching to Glo transforms the experience instantly. Whether it’s navigation, downloading content, or staying entertained, the difference is clear with Glo, which ensures you stay connected no matter where the road takes you.
Starring alongside Toyin Abraham Ajeyemi, the commercial featured Bolaji Ogunmola and others and their combination brought the best out of the TVC.
Users can easily access data plans by dialling *312#, ensuring smooth, uninterrupted service on the go.
Department, on the other hand transports viewers to a futuristic landscape where technology bridges the gap between creativity and reality.
Guided by the renowned Richard Mofe-Damijo (The Professor), the story explores how powerful ideas turn into extraordinary experiences. It showcases a smarter, more dynamic world—from real-time gaming to advanced culinary processes demonstrated by Hilda Baci and creative tech integration by Bamike Adenibuyan (Bam-Bam).
The unique feature of the story is each scene serving as a testament to how Glo is actively shaping a future where technological possibilities are infinite.
The Glo’s latest commercials carry a unified, powerful message: The future is here, and it is powered by Glo.
Telecom
MTN-Backed Pitchathon Awards ₦45m to Startups @‘Gathering on 100’ in Lagos

Young innovators and entrepreneurs from across Nigeria converged at the “Gathering on 100,” a 100-hour non-stop youth-focused experience powered by MTN, to showcase ideas, build networks, and compete for funding in a major startup pitch competition.

Pitchathon
The event, described by organisers as a convergence of creators, founders, and culture shapers, featured a Pitchathon segment that awarded a total of ₦45 million to eight outstanding startups selected from 30 participants spanning sectors such as Artificial Intelligence, FinTech, HealthTech, EdTech, Internet of Things (IoT), AgriTech, DefenceTech, and CreativeTech.
The competition underscored what participants called a “Gen Z approach to business,” combining innovation, speed, and community-driven growth models.
At the end of the contest, Hurpham Africa, led by Sesan Kareem, emerged overall winner, securing ₦15 million alongside enterprise partnership and co-development access from MTN.
Coconoto Ltd, founded by Jacob Oluwayannife, clinched the second runner-up position with a prize of ₦10 million, while Rava Send, represented by Emmanuel Isaka, emerged third runner-up, receiving ₦5 million.
Five other startups — URI Social, Dulces Jams, Kindly Book, Africa Medical Marketplace, and MyFund — each received ₦3 million in recognition of their innovative solutions and growth potential.
Organisers said the initiative was designed not only to reward innovation but also to equip young founders with critical business skills through mentorship and real-time engagement with industry leaders.
The Pitchathon formed part of a broader industry showcase where emerging technology startups presented solutions aimed at deepening financial inclusion and accelerating e-commerce growth across Africa.
Among the presenters was a fintech platform led by Charles Dairo, which is focused on simplifying cross-border transactions. According to Dairo, the platform has recorded more than 10,000 user registrations, with about 30 per cent actively transacting.
He said the company is deploying a localized incentive system to drive user engagement and convert inactive users, noting that a referral programme already contributes roughly 15 per cent of organic growth.
The platform operates a 0.5 per cent transaction fee model and leverages strategic banking partnerships to ensure liquidity. It also integrates stablecoins such as USD Coin to enhance cross-border payment efficiency and expand interoperability across mobile money ecosystems.
Stakeholders noted that such innovations could help address long-standing challenges in Africa’s payments landscape, including high transaction costs and limited system integration.
In the e-commerce space, startups like Jakuta demonstrated the use of artificial intelligence to simplify purchasing decisions and improve operational efficiency.
The platform combines voice technology with mobile messaging tools such as WhatsApp to guide users through transactions, while also enabling device trade-ins through automated video analysis.
Developers said the system currently supports operations in about 20 countries and is capable of handling high volumes of daily interactions, including automated customer engagement processes.
They added that the solution automates routine merchant tasks such as inventory management and customer follow-ups, even in low-connectivity environments, thereby expanding access for small and medium-sized enterprises.
Founders also disclosed ongoing efforts to partner with telecommunications providers to reduce communication costs and scale adoption of their platforms.
Industry analysts at the event observed that many startups are increasingly prioritising customer lifetime value, reinvesting revenues into marketing, user acquisition, and product optimisation to build resilient and scalable business models.
They noted that such strategies are essential for navigating challenges including exchange rate volatility, infrastructure gaps, and regulatory complexities across African markets.
The “Gathering on 100” highlighted the growing influence of youth-led innovation in shaping Nigeria’s digital economy, with stakeholders expressing optimism that sustained collaboration between startups, financial institutions, and telecom operators would accelerate digital inclusion and unlock new economic opportunities.
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