Telecom
Usoro Calls for Collaborative Effort to Achieve 95% Target for Financial Inclusion by 2024
Usoro Usoro, general manager, Mobile Financial Services, MTN Nigeria, has said that in order for the country to meet the 95% target for financial inclusion by 2024 set by the Central Bank of Nigeria, it needs to accelerate the current growth rate in the industry.
Usoro disclosed this during an interactive virtual session by The Economist Intelligence Unit based on a report titled “State of Play: Fintech in Nigeria” sponsored by MTN Nigeria and Mastercard.
The webinar hosted by Camelia Oros, managing director, CT Productions featured presentations by Irene Mia, Global Editorial Director, Thought Leadership and Melanie Noronha, Senior Editor, Thought Leadership, EMEA both of The Economist Intelligence Unit.
The webinar also featured presentations by Usoro Usoro, General Manager, Mobile Financial Services, MTN Nigeria and Ebehijie Momoh, Senior Vice President, General Manager, West Africa, Mastercard.
The session reviewed topics tackled in the Nigerian Fintech report while assessing both industry drivers and impediments to further growth.
Addressing participants at the session, Usoro Usoro remarked, “Fintech and financial inclusion is an important area for MTN Nigeria.
“We always see ourselves as a company that drives economic growth and development everywhere we operate.
“Working with The Economist team and similar stakeholders to produce reports such as this stimulate debate and conversation around the challenges in the sector and how we can work together as an industry to drive our desired objectives”.
He further explained that “The CBN’s National Financial Inclusion Strategy which was revised in 2019 has set a financial inclusion target to 95% by 2024.
“It is barely five years from now and we need a collaborative approach by stakeholders in the industry to ensure that all players can leverage their various assets to meet that target.
“Relatively, Nigeria has more sophisticated products than many other countries on the continent. The challenge is in accessibility and how these products will not only improve convenience for the already banked but further drive inclusion while addressing how we can bring these last batch of 40 million customers that are traditionally excluded into the fold
“Overall, I think we are in the right direction, and studies such as this serve the purpose of stimulating conversation that will provide solutions to the challenges we face as an industry”.
Plans to launch the report to a wide selection of stakeholders in the Nigerian Fintech industry were underway but had to be postponed due to the restrictions posed by the COVID-19 pandemic. The Economist Intelligence Unit confirmed that details of the physical event will be shared at a later date.
Spacecoin, US-based, has announced the signing of recent agreements with local authorities and operators to launch satellite connectivity pilot projects in Africa.
The initiatives, focused on Kenya and Nigeria, aim to serve areas where terrestrial networks remain limited or unavailable.
n Kenya, Spacecoin has obtained a transmission license from the Communications Authority, allowing it to test satellite-based solutions for connectivity and Internet of Things (IoT) monitoring, particularly in rural and peri-urban areas with limited internet access.
According to the Kenyan regulator, internet penetration remains below 50% of the population, despite mobile penetration exceeding 130%.
In parallel, the company is continuing operations in Nigeria under an existing license issued by the Nigerian Communications Commission (NCC).
This authorization supports initiatives aimed at delivering affordable broadband connectivity to isolated and underserved communities.
Spacecoin’s approach is based on a decentralized satellite network using nanosatellites in low Earth orbit (LEO).
Combined with blockchain-based protocols, this architecture is intended to offer more flexible and cost-effective connectivity services than traditional networks, while also enabling the integration of IoT solutions for a range of uses, from smart agriculture to infrastructure monitoring.
These projects are part of a broader strategy to help narrow Africa’s digital divide, where a significant share of the population still lacks access to reliable internet services.
Satellite technology is increasingly viewed as a complement to terrestrial infrastructure, particularly in hard-to-reach areas where deployment costs and geographic constraints remain high.
Beyond Africa, Spacecoin is also running pilot projects in Asia, working with local partners to test the viability of its model across different regulatory and geographic environments.
According to the company’s management, growing interest from regulators reflects a shift toward solutions capable of reaching populations that have long been excluded from internet access.
AVEVA, a global leader in industrial software, driving digital transformation and sustainability, today announces the appointment of Khaled Salah, 37 years old, as Vice President of Africa.
Khaled Salah
In this new role, he will be responsible for about 30 employees to ensure the successful implementation of AVEVA’s growth strategy. Khaled Salah will report directly to Jesus Hernandez, SVP of the EMEA region.
A 15-years + career across different industries and domains
With a MBA in management from the Warwick business school, UK, and a master’s degree in engineering from Ain Shams university in Egypt, Khaled Salah is an active advocate for driving sustainable progress in the industrial sector. With Sustainability in mind, Khaled is keen on making a positive business impact, while fostering progress for people and the planet.
He started his career at Schneider Electric, in 2013 in the global supply chain and evolved through various roles such as Europe procurement and supply chain strategy Manager, and Global Commercial strategy Director for the industrial automation business. Khaled Salah has developed a strategic understanding of all those fields.
After 12 years in Schneider Electric, Khaled joined AVEVA in 2022 to lead AVEVA and Schneider Electric global strategic partnership, across all industries managing a team of 30 people.
He has led the introduction of new AVEVA software solutions to initiate and develop significant growth areas across all Schneider Electric verticals.
Ambitious plans for AVEVA in Africa
In addition to his current role as AVEVA and Schneider Electric partnership Vice-President, Khaled now takes over the management of AVEVA’s activities in Africa.
Jesus Hernandez, SVP of the EMEA region says: “Africa is a strategic region for AVEVA. In this major industrial market, customers, world leaders in the fields of Energy, Metal & Mining, Chemicals, and Water, are looking for AVEVA’s expertise to accelerate and drive their digital transformation and sustainability strategies, as well as their energy transition projects.
“Khaled Salah’s qualities of leadership in a global environment will benefit his team spread across 12 countries including Algeria, Morocco, Egypt, Kenya, Nigeria, and South Africa.”
Motivated by the prospect of capitalizing on the talent of his team to strengthen AVEVA’s presence in Africa in the years to come, Khaled Salah says: “Helping my team realize their professional potential is close to my heart.
“We will work together to support and accelerate the digital transformation of industries in Africa, in particular through CONNECT, our industrial intelligence platform, with the support of our ecosystem of partners. »
A Google-Ipsos report reveals Nigerians topping global AI usage at 88%, surpassing the 62% worldwide average, with sharp rises in education and business applications.
“Our Life with AI: Helpfulness in the hands of more people” shows 93% of Nigerians using AI for learning complex topics versus 74% globally, 91% for work assistance, and 80% for new ventures—nearly double the 42% global rate.
Taiwo Kola-Ogunlade, Google’s West Africa Communications Manager, stated: “Nigerians are creatively using AI to unlock opportunities for learning, growth, and economic empowerment, shaping their future with technology.”
Key findings highlight 91% viewing AI positively for learning access, 95% expecting benefits for students and educators, and strong optimism—80% excited versus 20% concerned, compared to global 53%-46% split. Frequent users show 90% excitement
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