E-Business
History as Fintrak Software Unwraps Africa’s First AI-Powered Credit Management Software

Fintrak Software Limited, a financial technology (Fintech) firm headquartered in Lagos, has set a new benchmark in the African financial landscape with its introduction of AI-powered “Fintrak Credit 360”.
This cutting-edge credit management software, laced with the power of Artificial Intelligence and Machine Learning, is poised to revolutionise credit processes within banks and allied institutions across the continent.
Bimbo Abioye, group managing director, said the software’s transformative impact on the credit lifecycle. Unlike conventional banking solutions, Fintrak Credit Risk 360 comprehensively captures every stage of credit management, from origination and appraisal to customer approval, loan approval, and even rescheduling.
In a recent international webinar engagement spanning multiple African countries, from Kenya to Tanzania, Gambia, and Uganda, Fintrak Software showcased its innovative software to a gathering of prominent industry players and bankers.
The infusion of Artificial Intelligence (AI) ensures a flawless execution of these processes, eradicating the possibility of human error.
Abioye noted that the software’s ability to automate credit transactions, including intricate processes like payday loans, end to end.
Through strategic integration with credit bureaus and regulatory bodies like the Central Bank of Nigeria, Fintrak Credit Risk 360 emerges as a holistic solution for any bank, empowering them to manage various loan types effectively.
In the words of Omar Mboob, a seasoned banker from Gambia, “Fintrak’s software has streamlined its operations, introducing meticulous underwriting and enhancing client oversight.” The automation features have instilled confidence in auditors due to adherence to international financial reporting standards (IFRS), significantly boosting efficiency and productivity.
The system further extends its functionality to accommodate various approval levels, from bank officers to credit committees and board committees.
It provides mobile loan approval capabilities, ensuring flexibility and accessibility for stakeholders involved in the approval process.
Through its digital lending capabilities, the platform transforms the lending experience, making it more efficient, transparent, and secure for both financial institutions and borrowers.
Kenneth Uzoegwu, a financial analyst, added that Fintrak’s Credit Risk software is impactful for its swift decision-making capabilities, facilitated by AI and machine learning components.
Christopher Sualeze, head of Commercial Banking SBU, FinTrak Software, highlighted the software’s open architecture, making seamless integration with other credit software possible. He also said that its prowess in anomaly detection and behavioural analysis of customers is facilitated by a dynamic product rack.
Fintrak Credit Risk 360 incorporates a comprehensive array of core components essential for managing credit risk effectively. This robust system encompasses features such as loan origination and collateral management, corporate bulk loan breaking, credit reporting, disbursement execution, loan restructuring, and real-time loan monitoring.
Furthermore, the system integrates an embedded document management system, utilizing cutting-edge artificial intelligence and machine learning technologies for efficient data analysis and decision-making processes.
It also streamlines credit documentation processes, including Credit Approval Memos (CAM) and Credit Approval Forms (CAF). Additionally, the platform facilitates rigorous credit appraisal through in-depth financial analysis and risk rating methodologies.
E-Business
Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.
Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.
This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.
Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.
According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”
Similarly, Kashifu Abdullahi, director-general, NITDA, also stressed the need for collaborative efforts in fighting cybercrimes.
According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.
“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.
“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”
Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.
He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.
The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.
The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.
E-Business
AXIAN Telecom Invests in Jumia Post-MTN Era

XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.
This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.
AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.
While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.
“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.
Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.
But years of underperformance, leadership changes, and competitive pressures dented investor confidence.
In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.
Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.
The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.
Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.
Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.
The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.
E-Business
NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

Abisoye Coker-Odusote,, DG, NIMC
She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.
The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.
As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.
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