E-Business
Cloud Computing Solutions Can Assist Significantly to Reduce Banking Costs in Africa – Report

More than 700 million Africans lack access to a bank or mobile money account and only 41% of Africans are financially included. This is due to the high cost of providing financial services in Africa which forces many financial services providers to remain focused on serving wealthier customers.

These are some of the many insights from the report Cloud Banking in Africa: The Regulatory Opportunity by Genesis Analytics and Orange Business Services on how the application of cloud computing in financial services can help financial services providers reach and serve the poor.
Part of the cost problem is that financial institutions in Africa are so much smaller than elsewhere – the biggest bank in Africa (SBSA with assets of $148 billion) ranks 296th globally; most banks in Africa have assets of less than $5 billion.
But African consumers are increasingly expecting these banks to provide the same range of digital services as banks in other countries.
This is why consumers have been turning to mobile banking in such numbers. The telecommunications companies have been much more successful at delivering affordable financial services than banks are, but also need to find new ways to reduce costs if they are to reach out to even poorer customers.
Cloud computing creates an opportunity for providers of financial services to rethink their technology spend and significantly reduce costs.
Cloud computing involves using internet technologies to provide virtual infrastructure that is scalable and delivered as a service. Fixed costs can be converted into a subscription-based approach and upfront capital investments are converted into operational costs.
Cloud computing allows banks to pay less for ICT infrastructure and services and achieve higher utilisation on ICT spend. Particularly for small banks in small markets where specialised ICT skills are in short supply, cloud computing can ease a critical operational constraint.
The most compelling reason to move to the cloud is undoubtedly cost savings, but there are other business reasons too.
The flexibility of cloud-based operational models allows financial institutions to experience shorter development cycles for new products, which supports a faster and more efficient response to the needs of customers.
Cloud computing provides the computer power necessary to deliver analytical insights in real time, which enables financial institutions to move towards a customer-centric model where the financial needs of customers are fully understood. Financial institutions can also gain a higher level of data security, resilience, fault tolerance and disaster recovery from cloud computing.
A few international and African banks have already realised the value of cloud banking. WeBank is China’s first digital bank that is based in a private cloud and uses innovative technologies, such as Artificial Intelligence and blockchain, to effect an extraordinarily high volume of transactions at a very low cost.
WeBank has been able to run at 95% lower cost than that of traditional banks’ IT operations and has passed this cost saving onto their customers in the form of low account fees. TymeBank is a new digital entrant to the South African banking sector and has made a 56% cost saving compared to other startups by using cloud services from AWS.
Before financial service providers can adopt cloud banking, regulators need to support and approve the use of cloud technology within the financial sector. Some international regulators are already allowing the use of cloud banking in the financial sector.
The European Union has been at the forefront of defining an enabling regulatory environment for cloud banking services, which has involved both the regulation on the use of data and privacy and protection of data.
Under the regulations, financial institutions have to ensure that consumer personal data is gathered legally and under strict conditions and that consumer data is fully protected. Other developing markets like Turkey and Argentina have adopted similar legal and regulatory environments, which has enabled the use of cloud banking in their financial sectors.
Africa’s financial sector regulators’ approaches are very much work in progress. The report urges African regulators to develop clear policy positions and regulations on data privacy, risk and security; data sovereignty; cybercrime; protection of intellectual property; vendor risk; and migration complexity and operational risk to enable financial institutions to reap the benefit of cloud banking.
Genesis Analytics is a global African firm that has worked in more than 74 countries across the world, 41 of which are on the continent, and Orange Business Services is a network-native digital services company and the global enterprise division of the Orange Group, connecting, protecting and innovating for enterprises around the world.
E-Business
TD Africa Sponsors Check Point Secure 360 Summit to Boost Cybersecurity in Nigeria

Africa’s leading technology distributor Powerhouse, TD Africa, has reaffirmed its commitment to advancing cybersecurity awareness and digital resilience by sponsoring the 3rd Annual Secure 360 Summit Nigeria 2026, hosted by global cybersecurity leader Check Point Software Technologies, as Gold Sponsor.

Chioma Chimere, Coordinating Managing Director, TD Africa
This year’s summit was held in Abuja and Lagos, bringing together key stakeholders from across Nigeria’s technology ecosystem.
Now in its third edition, the Secure 360 Summit has evolved into one of Nigeria’s premier cybersecurity forums, bringing together Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), IT Directors, and senior technology leaders from the financial services, telecommunications, enterprise, energy, and public sectors to address today’s rapidly evolving cyber threat landscape.
Speaking on the significance of the summit, Kingsley Oseghale, Country Manager, Check Point Nigeria, emphasized the need for stronger collaboration in tackling emerging cyber risks. “Cybersecurity has become a business priority rather than just an IT concern.
“Through the Secure 360 Summit, we continue to provide a platform for industry leaders to exchange insights, strengthen partnerships, and explore innovative approaches to securing today’s digital economy.
“We are pleased to have TD Africa as a valued partner in driving cybersecurity awareness across Nigeria.”
In her remarks, Chioma Chimere, Coordinating Managing Director, TD Africa, applauded Check Point for creating a platform that addresses one of the most critical challenges facing businesses and individuals. “Cybersecurity is everyone’s business. We owe it to ourselves, our organisations, and our communities to remain security-conscious in an increasingly connected world.
“At TD Africa, innovation drives everything we do, and innovation can only thrive in a secure environment.
“This is why we are proud to support initiatives like the Secure 360 Summit that promote knowledge sharing and strengthen our collective cyber resilience.”
The summit featured expert-led sessions on emerging cyber threats, artificial intelligence, cloud security, ransomware, and strategies for building resilient digital infrastructures, equipping participants with practical insights to navigate today’s cybersecurity landscape.
Through its continued partnership with global technology leaders like Check Point, TD Africa remains committed to empowering businesses across Africa with world-class cybersecurity solutions, fostering industry collaboration, and driving the continent’s secure digital transformation.
E-Business
Tinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG

President Bola Tinubu has directed the National Identity Management Commission (NIMC) to ensure that every Nigerian is enrolled in the national identity database before the end of 2026, according to Abisoye Coker-Odusote, director general and chief executive officer of the agency.

Abisoye Coker-Odusote, director general and chief executive officer, NIMC
Coker-Odusote, who appeared on Channels Television, said the directive forms part of the federal government’s efforts to establish a comprehensive national identity system capable of supporting effective governance, planning, and service delivery.
“The President has given us till the end of this year to make sure that we capture every single Nigerian,” she said.
According to her, NIMC is working with partners under the World Bank-supported Identification for Development (ID4D) project to accelerate nationwide enrolment.
“What we have done is we have partnered through the World Bank ID4D project with front-end partners. They are part of the digital identity ecosystem. These are private citizens that we’ve enabled and given jobs to enrol citizens on our behalf,” she explained.
She stressed that the National Identification Number (NIN) remains a unique identifier, ensuring that every individual is registered only once.
“That’s why it’s called a unique identifier, so that you’re only enrolled once,” the NIMC DG added.
Coker-Odusote said Nigeria’s actual population remains uncertain, with estimates ranging from 200 million to 250 million, making a comprehensive identity database essential for national planning.
“It is estimated that we’re 200 million. When we’re done enrolling, we will then know the actual numbers that we have. Some estimates say 230 million, while a few people say 250 million.
“Your identity is basically the foundation for effective governance and service delivery. How can you plan if you don’t know the total number of persons that you have? We have been mandated by Mr President to go down to the community levels to enrol every single Nigerian”, she said.
Responding to concerns about whether an individual could obtain multiple identities by registering in different locations or under different names, the NIMC boss said the commission’s biometric verification system prevents such occurrences.
She explained that while the previous system could accept duplicate enrolments before detecting them later, the current process automatically identifies and invalidates multiple registrations.
“The legacy system had no way of verifying at the front end whether you had already been captured. Once the record comes into the system, it flags it as a duplicate or that the person already exists in the database.
“You would only have one identity generated for you. The other record goes into a deduplication bucket where it is invalidated,” she said.
The NIMC DG added that biometric verification, including fingerprints and facial recognition, makes it virtually impossible for one person to maintain multiple identities.
“Absolutely. One of the things that this Act has done is to cement our role in capturing biometrics. Private and public sector organisations will no longer capture biometrics independently. They will validate identities through API integration with NIMC.
“The telcos are already doing that with us. If you need a SIM card, they capture your facial biometrics, which are matched against our database in real time to confirm that you are who you claim to be. We’re using biometric validation to tighten security around identity confirmation,” she said.
The remarks come weeks after Tinubu signed the National Identity Management Commission (NIMC) Act 2026 into law on June 26, repealing the 2007 legislation.
The new law reinforces the “One Person, One Identity” policy by making the NIN the country’s foundational identity credential for accessing government and essential private services, including banking, passport applications, tax administration, pensions, land transactions, and consumer credit.
It also introduces stiffer penalties for identity theft, multiple registrations and unauthorised access to personal identity data, while strengthening data privacy protections and granting NIMC wider powers to investigate identity-related offences.
E-Business
Kaspersky Warns of AI Risks for World Cup Fans

Cybersecurity and privacy experts are raising concerns around the growing trend of sports fans using generative AI to create World Cup-related images, mock-ups, predictions and social media content.

Whilst offering new ways for supporters to engage with major sporting events, these tools also introduce risks that many users may underestimate. In light of this, Kaspersky has shared the key risks fans should keep in mind when using generative AI tools, so they can continue enjoying the championship with peace of mind.
When fan AI goes rogue. A growing number of AI tools are being used to create World Cup-themed visuals, avatars, memes and other fan content. While these services may seem creative and harmless, not all of them come from trusted providers.
Many are launched quickly to capitalise on interest around major events, increasing the likelihood that users will interact with platforms that offer limited transparency around data handling, lack adequate privacy and security measures, or might even be designed with malicious intent.
Personal data at stake. To create customised World Cup content, users are often asked to upload selfies, sign up with an email address, connect social media accounts or share other personal information. In doing so, they may reveal more information than necessary without fully understanding how that data will be stored, used, or potentially exposed.
“AI-driven fan content may seem harmless, but one of the key privacy risks is that users are often encouraged to share far more personal information than necessary. A simple request to generate a themed avatar can involve the collection of photos, contact details, account data and behavioural insights – information that may later be insufficiently protected.
“Because major global events often create an ideal environment for opportunistic actors, fans should take a closer look at how these tools manage personal data before engaging with them,” says Anna Larkina, web content analysis and privacy expert at Kaspersky.
When fan content becomes a scam. AI-generated World Cup content in some cases can also be used to support fraud. Cybercriminals may use convincing mock-ups, fake giveaways, or official-looking fan pages to attract attention and build trust. Once users engage, they may be redirected to phishing sites, fake stores, fraudulent offers, or betting-related scams. Generative AI makes these campaigns easier to produce, more persuasive and far easier to scale.
The myth of AI predictions. Another area that deserves caution is AI-powered match prediction. However advanced or data-driven these tools may appear, AI cannot reliably predict inherently uncertain sporting outcomes. When used to promote betting, paid subscriptions or “insider communities”, such services can create a false sense of confidence and encourage risky decisions.
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