E-Business
ConnectNigeria Panelists Urge SMEs to Leverage Mobile Money, eCommerce
It is an obvious situation that the Small and Medium Enterprises (SMEs) are confronted with several challenges which hamper their growth and the nation’s economic development.
Chiefly among the challenges that need to be addressed immediately include finding solutions to the high cost of doing business occasioned by poor infrastructure (power, roads, water), multiple taxation, high cost of legal documentation of credit facilities at both the states Lands Registries and the Corporate Affairs Commission (CAC); inadequate capacity building on the part of the SMEs in the areas of entrepreneurship, and skills acquisition, resulting in the perception of the sector as high risk and poor attitude to loan repayment by borrowers in the sector.
With these in mind, Connectnigeria.com recently organized an e-Business Fair for SME owner to engage face-t-face with players in the financial, e-commerce, and telecommunication sector, and to seek palliatives to the challenges.
Speaking during a panel discussion at the Fair, Mr. Obaro Osah, head, Lagos Region, SMEs Group at Bank of Industry (BoI) said that the Bank has ben playing critical role by providing grounds for small businesses financing.
He said that the Bank has made the process of accessing funds very easy by reducing the processes to three easy activities to apply for funding now, giving every Nigerian access to funding for business.
According to him, most startups are faced with the challenge of penning down marketable business proposal.
In lieu of that, BOI entered into partnership with 232 Business Development Support Partners (BDSPs) to help the entrepreneurs in drafting presentable proposals to banks for grants or loans.
He also urged participants and other startups to embrace cashless as a means of reducing risks associated with carrying cash around, and means of packaging their activities to partake in the formal sector of the economy.
Also speaking, Mr. Mike Ogbalu, managing director, FirstMonie, the FirstBank mobile money services platform, said that they have been driving innovative mobile payment systems and commitment to continuously deliver innovative products and solutions, part of which includes enhancing the robustness of its mobile banking and mobile payments platforms.
Ogbalu while encouraging participants at the Forum to join other 2.4 million FirstMonie subscribers who enjoy services dispatched through more than 13,000 agents it has established, he said the ultimate aim is to create more value for their customers.
Firstmonie is designed to enhance financial inclusion and cater for millions of Nigeria’s unbanked and the underbanked citizens, while aligning with the Central Bank of Nigeria’s policy to promote a cashless economy in Nigeria.
Ogbalu said that the Firstmonie solution was provided to entrench e-banking through the use of the mobile phone and to mitigate the challenges of banking services delivery to the vast unbanked market.
Nigeria CommunicationsWeek recalled that, in recognition of Firstmonie continued effort to drive financial inclusion, lead innovation in mobile payment systems and support the CBN cash-less policy, the platform was awarded the Best Mobile Money Operator in Nigeria by the EFInA Financial Inclusion Awards.
From Union Bank of Nigeria’s perspective, Mr. Ayodeji Mebude, head of Channels, said that the bank sees support for SMEs growth as critical in the life of a nation.
He said, this inspired the Union Bank and as part of its transformation programmes to launch a number of initiatives targeted at the group.
Apparently, Union Bank launched an enterprise hybrid account that gives growing businesses the flexibility of a current account with the benefits of a savings account.
It is suitable for businesses such as co-operative societies, trade associations, professional bodies, social clubs and Non-governmental organizations.
Some of the features of the UnionEnterprise Hybrid Account include: access to Union Bank’s array of value adding, e-banking products and services; a minimum daily opening and closing balance of N5, 000 only; lodgement of cheques/dividend warrants; as well as provisions for third party over-the-counter transactions across the Union Bank branch network.
Additionally, UnionEnterprise Hybrid Account holders will enjoy accrued interest on their account balance at the prevailing savings account rate, with zero commission on turn over.
Representing Skye Bank, Ayodele Olojede, head, Small Business Group, said that as parts of its contribution towards the development of the real sector of the economy, Skye Bank Plc had introduced a number of products and incentives designed to help Small and Medium Scale Enterprises (SMEs) grow their businesses through access to finance and effective management of their financial resources.
Olojede said that the bank’s decision to support SMEs is based on the realisation that these small businesses are the major drivers of any economy worldwide.
She also hinted that the Bank will be making a major announcement in that regard soon.
And Femi George, data platform lead, Microsoft Nigeria, added that entrepreneurs ought to foster a culture of business innovation to survive in the present tech-world.
He said, Microsoft recognizes that, “In the digital age, technology has become the great equalizer, giving voice to your customers, partners, and employees and enabling your business to listen and become more responsive to customer needs and opportunities – using the connectedness of the cloud to respond with new business models, expanded channels and improved processes”.
He defined ‘The Microsoft Cloud’ as unique, as the companies that use it.
From a city that streamlines how its people travel through it, to a global outdoor apparel company that connects its teams around the world. See how this cloud has transformed some of the world’s greatest brands, George said urging the participants to leverage the opportunities in the Cloud.
Mr. Emeka Okafor, managing director, Connectnigeria.com, Organisers of the Forum, spoke to Nigeria CommunicationsWeek on the sideline of their decision to host the Forum with over 1000 SMEs in attendance.
He said, “Developing entrepreneurs is a continuous process in the life of a nation. What we hope people got out of the Forum is knowledge that will help them propel their businesses from, maybe, N1,000 to N10,000 daily or from a ten-man business to 100-man business. We looked for the professionals and those that have passed through some rough edges to share their experiences and inspire the young ones; telling them the steps to follow and others to avoid.
“Great countries do not depend on government to grow businesses; individuals do. Bill Gates of this world, and others did things that changed the world. Government may be doing enough in terms of policies, but which country has ever said that government is doing enough? They are individuals who go beyond current trends and break even.
“So, we put the Forum together because of love for the Country. We love this country; it is the only one we have and we want it to grow. We believe that now we are in the digital age, IT moves the world, we have very creative people; surprisingly, God has blessed this nation that close to 80% of the population are youths, therefore, if we are able to make them see potentials in what they do, the nation’s economy will blossom. Imagine where one million young people hired two million people each, we will wipe out unemployment”.
He described various eCommerce platforms introduced in the market as “fantastic; there is nowhere else we can go except up! Gone are the days were like ‘Nigerians are fraudulent, so we cannot do business with them’. They have seen the potentials of eCommerce with the ever growing population, smartphone users, internet growth and other developmental strides.
The fair also featured panel discussions that involved Supermart, Uber, Jovago, among others; exhibitions and networking.
E-Business
Microsoft Expands Africa AI Push while DeepSeek Gains Users

Microsoft is stepping up its push to expand artificial-intelligence adoption across Africa as competition intensifies with Chinas DeepSeek for influence in one of the worlds youngest and fastest-growing digital markets.

The company plans to train 3 million Africans on its AI technologies this year through partnerships with schools, universities and other institutions, with a focus on South Africa, Kenya, Nigeria and Morocco.
The effort reflects Microsofts broader attempt to accelerate adoption of its AI ecosystem across emerging markets where developers and enterprises are increasingly experimenting with generative AI tools.
Alongside the training initiative, Microsoft is working with MTN Group (MTNOY), Africas largest telecommunications company, to distribute Microsoft 365 and its Copilot digital assistant to about 300 million subscribers.
The Elevate program is designed to expand AI literacy and reduce cost barriers that might otherwise limit adoption, according to regional leadership.
The push comes as Chinese technology firms expand their footprint across the continent, with DeepSeeks open-source models accounting for roughly 11% to 14% of chatbot use in several African markets and reaching about 20% in countries such as Ethiopia and Zimbabwe following investments tied to digital infrastructure and telecom networks.
Microsoft is also increasing its infrastructure investment in the region.
In South Africa, the company plans to invest 5.4 billion rand, or about $330 million, to expand its cloud and AI capacity by the end of next year, while it is also exploring plans for a geothermal-powered data center in Kenya.
Early corporate adoption is emerging across the continent, with South African grocer Spar Group using Copilot in ways that save more than 700 employee hours annually and Nigerias Access Holdings integrating AI into daily workflows.
Regional leadership has suggested broader AI adoption could potentially contribute up to $1.5 trillion to Africas gross domestic product by 2030 if governments and businesses continue investing in digital infrastructure and AI skills.
E-Business
Kaspersky Uncovers a New Android Malware Campaign Disguised as Starlink Application

Kaspersky Global Research and Analysis Team (GReAT) has uncovered a new Android malware campaign in which cybercriminals distributed the BeatBanker Trojan under the guise of the Starlink application for Android.

Threat actors primarily target users from Brazil; nevertheless, Kaspersky experts don’t rule out that users from other countries may also face this threat.
The Trojan employs a Monero cryptocurrency miner and additionally installs a BTMOB remote administration tool (RAT) on the infected devices. To maintain its persistence, BeatBanker uses an uncommon mechanism involving a nearly inaudible looped audio file.
“At first we saw BeatBanker being distributed under the guise of a public services app; it installed a banking Trojan in addition to a cryptocurrency miner. However, our recent detection efforts uncovered a new campaign with another BeatBanker variant that deploys the BTMOB RAT instead of the banker module.
The attackers appear to be using a fresh lure with the Starlink app to reach more victims from different countries. Therefore, it is important for users to stay vigilant and use advanced solutions to protect their smartphones,” comments Fabio Assolini, Head of the Americas & Europe units at Kaspersky GReAT.
Initial vector of infection
Kaspersky experts believe that cybercriminals distribute a fake Starlink application containing the BeatBanker Trojan through phishing pages that mimic the Google Play Store. After execution on a compromised device, the Trojan displays a user interface that also mimics Google Play. Cybercriminals trick victims into granting installation permissions, thus allowing the download of additional hidden malicious payloads.
Crypto mining and BTMOB RAT module
When a user clicks UPDATE on the fake Google Play page, a Monero cryptocurrency miner deploys. BeatBanker monitors battery percentage and the temperature of an infected smartphone, as well as user activity after which a hidden cryptocurrency miner is started or stopped.
The Android Trojan also installs a BTMOB RAT on the compromised device. BTMOB enables full remote control and is sold as Malware-as-a-Service.
It is capable of automatic granting of permissions, hide system notifications and has mechanisms designed to capture screen lock credentials, including PINs, patterns and passwords on compromised devices. The malware also gives cybercriminals access to the front and rear cameras, GPS location monitoring and constant collection of sensitive data.
To ensure persistence and hinder uninstallation, BeatBanker maintains a fixed notification in the foreground and activates a foreground service with silent media playback. This tactic is designed to prevent the operating system from removing the malicious process.
Kaspersky’s products detect this threat as HEUR:Trojan-Dropper.AndroidOS.BeatBanker and HEUR:Trojan-Dropper.AndroidOS.Banker.*.
E-Business
How Africa Can Turn the AI Wave into Inclusive Growth

By Shameel Joosub
For centuries, Africa has powered global economic growth through its resources, labour, and human potential, yet too little of that prosperity has been realised on the continent itself. Today, artificial intelligence presents a rare opportunity to change that trajectory.

As the global economic order undergoes its most significant transformation since the end of the Second World War, Africa stands at a decisive inflection point.
With the world’s youngest population, rapidly expanding digital adoption, and vast untapped potential, Africa is uniquely positioned not just to participate in the AI era, but to help shape it.
Realising this opportunity, however, will require deliberate investment, enabling regulation, and a commitment to ensuring that the benefits of AI reach all 1.5 billion people across the continent.
When I reflect on AI, what strikes me most is that it is enabled by humanity.
Intelligence is fundamentally human, and AI is an extraordinary amplifier of human creativity and capability.
It is not about replacing people. It is about empowering them to do more, faster, and better.
While this progress is remarkable, our responsibility as African businesses is to extend these capabilities beyond our corporate walls so that AI can unlock Africa’s underutilised potential and drive inclusive growth.
Unlocking Africa’s Potential Across Industries
As a purpose-led African connectivity and digital services company serving 223.2 million customers across South Africa, the DRC, Egypt, Ethiopia, Kenya, Lesotho, Mozambique, and Tanzania, Vodacom has invested strategically in AI across multiple sectors.
Our mobile networks reach a population of 588 million people. That reach must translate into opportunity.
Consider agriculture. One of our subsidiary companies, Mezzanine, leverages AI to unlock previously invisible insights into soil composition, empowering farmers to make data-driven decisions that improve crop yields and profitability.
When farmers thrive, food security strengthens and rural communities prosper. That is inclusive growth in action.
In financial services, AI is strengthening trust and security. In Kenya, Graph Network Analytics enhances M-Pesa fraud detection by mapping money movements in real time, helping protect more than 37 million customers who rely on the service in their daily lives.
As criminals target digital payment platforms, AI helps predict and prevent fraud scenarios, including SIM swap fraud and identity theft.
AI is also supporting national infrastructure. In South Africa, connectivity and IoT solutions monitor coal transport in real time from pit to port to power station.
This improves operational efficiency and supports energy security, addressing critical infrastructure challenges that have constrained economic growth.
These are not isolated examples. They represent a broader truth. Technology delivers its greatest value when it solves real problems for real people.
The Infrastructure Imperative: Modernising Regulation
Yet none of this is possible without one fundamental prerequisite: connectivity. Connectivity requires sustained investment in infrastructure, supportive policy environments, and regulatory frameworks that enable innovation.
If Africa is serious about universal access, modern and enabling regulation is essential. Spectrum licensing must be efficient and predictable. Infrastructure sharing must be supported. Universal service funds must be effectively deployed. Administrative barriers to infrastructure rollout must be reduced. Cloud and data platforms, which power AI capabilities, must be supported through enabling policy environments. These are not peripheral issues. They are fundamental to accelerating Africa’s digital and economic transformation.
These challenges represent only a portion of the regulatory barriers that must be addressed to deliver affordable, reliable connectivity to all Africans.
Pan-African Coordination: Our Collective Responsibility
Africa’s greatest advantage is its youth, but demographics alone will not deliver growth. To realise this potential, we must actively skill up young people in our schools and universities so they can take full advantage of an AI-driven future.
That requires modernising education curricula to embed AI literacy, data capability and practical problem-solving at scale. Companies like Vodacom are investing in digital skills development, but unlocking Africa’s potential will require coordinated action across government, academia and industry.
This is why governments and intergovernmental institutions such as the African Development Bank Group, the African Union, SADC, ECOWAS, and other regional bodies play a critical role in harmonising regulatory frameworks across the continent. Greater coordination can accelerate investment, enable scale, and support the development of an integrated digital economy.
Pan-African alignment of telecommunications regulation is not merely a technical objective. It is essential to unlocking inclusive growth and ensuring that Africa can compete effectively in the global digital economy.
Our Moment
Africa has long contributed to global progress. In the AI era, it has the opportunity to define its own future as a creator of innovation, productivity, and inclusive growth. The foundations are already in place. Our young population, expanding connectivity, and accelerating digital adoption position the continent to lead in ways that were not previously possible.
But this outcome is not guaranteed. It depends on the choices we make now. By modernising regulation, investing in connectivity as foundational infrastructure, and ensuring that AI empowers individuals, businesses, and communities, Africa can secure its place as a central force in the global digital economy.
That is the Africa I believe in. That is the Africa we are building at Vodacom, connecting people, enabling opportunity, and ensuring that technology serves the progress of society as a whole
Shameel Joosub, is group Chief Executive Officer, Vodacom Group
Source: Tech Africa News
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