Telecom
Mastercard, Financial Access Initiative Partner to Enable More Small Businesses Benefit From Digital Economy

The Mastercard Center for Inclusive Growth and The Financial Access Initiative (FAI) at New York University have announced the launch of The Small Firm Diaries, a global research initiative that will provide unprecedented insight into the financial lives of small businesses across six countries in Sub-Saharan Africa, Latin America and Southeast Asia.
The study will examine how small firms manage the adoption of digital financial services, with a focus on women-led businesses.
By collecting detailed quantitative and qualitative data insights from firms employing between 1 and 20 non-family workers in Nigeria, Ethiopia, Uganda, Colombia, Indonesia and Fiji, the study will shed light on how small business owners across the world manage their financial decision making amidst uncertain and volatile economies.
While there has been a great deal of research on informal family-run “microenterprises,” and more professionalized “medium-sized” firms, the needs of small firms are not yet well-understood.
For example, in Sub-Saharan Africa, small firms play a crucial role in economic development and job creation and insight is needed to understand the unique challenges faced by them in order to create sustainable solutions for their longevity and growth.
According to The World Bank, it is estimated that SMEs are responsible for 77% of all jobs in Africa and as much as half of the GDP in some countries.
The research initiative, supported by the Center, aims to provide financial service providers, policymakers, and practitioners with knowledge and recommendations to address barriers to adoption of digital financial services.
“We must understand how small enterprises work in order to develop interventions that reduce inequality and increase financial security amongst financially underserved communities,” said Natasha Jamal, Regional Director, Middle East and Africa, with the Mastercard Center for Inclusive Growth.
“This first-of-its-kind research will provide on the ground insights into what barriers and opportunities exist for small firms to adopt digital financial services and participate in an inclusive economy.”
“Small firms are by far the biggest employer in low and middle-income economies.
“Despite decades of statistical research, fundamental questions remain about why some grow, and some stagnate,” said Jonathan Morduch, Executive Director of the Financial Access Initiative and Professor of Public Policy and Economics at New York University.
“ Our aim is to go into the field and try to understand small firms from the bottom-up, by listening closely to how entrepreneurs and workers make choices on their own terms.”
“Just as household financial diaries have been crucial to understanding the needs of low-income households around the world, and the barriers to achieving household financial security, the kind of detailed financial information provided by diaries is needed to understand the choices that small firm owners make and the real barriers to growth they face,” said Timothy Ogden, Managing Director at the Financial Access Initiative.
FAI and its partners are working closely with local organizations that will be involved in the research to obtain country-level research and ethics approvals in each of the six countries that will host the study.
Methodology of The Small Firm Diaries Research Initiative
Project researchers will follow a group of 100 businesses in multiple sites in each country over a period of 12 months, visiting them several times per month to collect quantitative data on cash flows, and qualitative data on business owners’ aspirations and decision-making.
Compared to traditional research studies that produce static snapshots from a single point in time, financial diaries can produce nuanced and dynamic portraits of firm owners and their choices.
High-frequency, quantitative data on cash flows shows researchers actual trade-offs and decisions made in near-real time, and qualitative data collection allows them to probe deeply to understand the “why” behind those choices, revealing the behaviors and barriers that prevent firms from adopting useful tools and technologies, hamper firm growth, and slow market development.
The study will illuminate the ebbs and flows of the businesses, the markets they serve, the constraints to their productivity, profitability and growth, the impact of access (or lack of access) to technology and formal credit, the interactions of the cash flows of the business with the cash flows of the owners and employees, and much more.
The Small Firm Diaries has also received funding from the Bill & Melinda Gates Foundation, the Argidius Foundation, the Aspen Network of Development Entrepreneurs, and Australian National University.
The project’s overall research design is based on the experience of FAI and its research partners with previous financial diaries studies, such as Portfolios of the Poor, the US Financial Diaries, and the Bangladesh Garment Worker Diaries.
The advisory board for the multi-country study will include leading researchers on small firms and practitioners with expertise in digital and financial services and business support programs, with experience spanning the private sector, government, and academia.
Current board members include: Tamara Cook, CEO, FSD-Kenya; Matthew Guttentag, Director of Research & Impact at the Aspen Network of Development Entrepreneurs; Machal Karim, Executive, Development Impact at CDC; Leora Klapper, Lead Economist at the World Bank and founder of the Global Findex; and David McKenzie, Lead Economist within the Development Research Group at the World Bank.
The Small Firm Diaries is a collaboration led by the Financial Access Initiative at NYU Wagner, with independent researchers at The Graduate Institute of International and Development Studies in Geneva and Oxford University; research implementation partners L-IFT, MFO, and EDI Global; and local partners, including the University of the South Pacific (Fiji), SMERU (Indonesia), National Bureau of Statistics and Lagos Business School (Nigeria), and FSDU (Uganda).
Telecom
Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed reports that bank accounts not linked to a Tax Identification Number (TIN) will be frozen or automatically debited from January 1, 2026.

Taiwo Oyedele
Oyedele described the claims as false and misleading, warning Nigerians against panic over misinformation surrounding recent tax and financial reforms.
In a post on his X handle Tuesday morning, he wrote: “Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you.
“When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise.”
He stressed that no provision in the new tax laws authorises the freezing of bank accounts, adding that the rumours are part of widespread misrepresentation of the reforms.
The committee chairman reiterated that the reforms are intended to simplify Nigeria’s tax system and ease the burden on ordinary citizens, not to impose punitive measures on bank customers.
Telecom
Amazon Blocks 1,800 North Koreans From Job Applications

US tech giant, Amazon has disclosed that it blocked more than 1,800 North Koreans from applying for jobs, amid growing concerns that Pyongyang is deploying large numbers of IT workers overseas to earn and launder funds.

Amazon
In a LinkedIn post, Amazon’s Chief Security Officer, Stephen Schmidt, said North Korean nationals have been attempting to secure remote IT roles with companies around the world, particularly in the United States.
He noted that the company recorded nearly a one-third increase in such applications over the past year.
According to Schmidt, many of the applicants operate through so-called “laptop farms” — computers physically located in the US but remotely controlled from abroad.
He warned that the issue is not unique to Amazon and is likely occurring at scale across the tech industry.
He added that common red flags include incorrectly formatted phone numbers and questionable academic credentials.
The issue has previously drawn the attention of US authorities. In July, a woman in Arizona was sentenced to more than eight years in prison for running a laptop farm that helped North Korean IT workers obtain remote jobs at more than 300 US companies.
Officials said the scheme generated over $17 million in revenue for both the woman and North Korea.
Last year, South Korea’s intelligence agency also warned that North Korean operatives were using LinkedIn to pose as recruiters, approaching South Koreans working at defence companies in an attempt to steal sensitive technological information.
“North Korea is actively training cyber personnel and infiltrating key locations worldwide,” Hong Min, an analyst at the Korea Institute for National Unification, told AFP.
He added that, given Amazon’s business model, the motivation behind such operations is largely economic, with a high likelihood of attempts to steal financial assets.
North Korea’s cyber warfare programme dates back to at least the mid-1990s and has since expanded into a cyber unit of about 6,000 personnel known as Bureau 121, according to a 2020 US military report.
In November, Washington announced sanctions against eight individuals accused of being state-sponsored hackers, alleging their illicit activities were carried out to fund North Korea’s nuclear weapons programme.
The US Treasury has also accused North Korea-linked cybercriminals of stealing more than $3 billion over the past three years, primarily through cryptocurrency-related crimes.
Telecom
Treepz Launches Direct Flight Bookings to UK, Canada, UAE and 210 Global Destinations

Treepz, Africa’s leading mobility and travel technology company, has officially launched direct flight bookings on its platform, enabling customers to search, compare and book flights to more than 210 destinations worldwide, including the United Kingdom, Canada and the United Arab Emirates.

The development marks a major milestone in Treepz’s transition from a mobility provider into a fully integrated travel platform. With the new service, travelers can now complete the entire booking process — from flight search to payment — directly on the Treepz website without relying on multiple agents or third-party platforms.
Speaking on the launch, Mr. Onyeka Akumah, Chief Executive Officer and Founder of Treepz, described the initiative as a defining moment for the company and for travel access across Africa.
He said launching flight bookings to serve customers with flights to over 200 destinations was a major achievement, noting that travelers could now search for flights, enter their details, make payments with their cards, and complete bookings instantly on the platform without delays or switching between multiple websites.
The launch comes at a critical time for the African travel market. December is widely regarded as the busiest travel season on the continent, driven by holiday vacations, family reunions, weddings, festivals and end-of-year celebrations.
Millions of Africans travel locally and internationally during this period, often facing challenges with slow booking systems, unclear pricing and fragmented services.
Treepz’s new flight booking system is designed to address these challenges by offering a faster, more intuitive and reliable experience.
Customers can now search and book flight tickets directly on the Treepz website, compare prices and travel options in real time, make payments using any card option, and complete bookings faster without switching platforms.
Treepz has outlined ambitious plans for 2026, including unlocking access to over six million hotels globally, which will allow travelers to book flights and accommodation together in one seamless flow.
The company also plans to expand its car rental services into Europe and South America, further strengthening its position as a one-stop travel ecosystem.
According to Akumah, these developments will significantly reduce planning time for both leisure and corporate travelers, while giving customers more control and convenience.
Treepz has already facilitated more than six million movements across multiple cities and countries, ranging from daily commutes and corporate transportation to group travel and event logistics. With active operations across Africa and recent expansion into Canada, the company continues to grow its international footprint.
The addition of flight bookings strengthens Treepz’s ability to serve global travelers while maintaining its reputation for reliability and customer-focused service.
By integrating flights, accommodation, ground transportation and experiences into one platform, Treepz is positioning itself as more than a mobility provider.
The company is evolving into a comprehensive travel solution designed for modern travelers who value speed, clarity and convenience.
Industry analysts say the move could redefine travel access across Africa, particularly during peak seasons when demand for efficient booking systems is highest.
With this launch, Treepz has taken a bold step toward building a unified, tech-driven travel ecosystem that connects Africa to the world.
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