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Nigeria, Others to Account for Half of 115m new Subscribers by 2020 – de Morais

Jean-Claude Bastos de Morais is an entrepreneur and innovation specialist with a deep interest in African socio-economic development. In 2007, He founded Quantum Global Group, an international group of companies focused on African development, particularly in the fields of corporate finance advisory, asset and private wealth management, real estate and investment consulting. He has been supporting sustainable and innovation-led socio economic growth in Africa through African Innovation Foundation. He spoke to chike Onwuegbuchi on issues around his Foundation and supporting innovation in Africa
Low Internet penetration in Africa as a Challenge for Entrepreneurs
The 2017 Mobile Economy report by GSMA estimates that at the end of 2016, there were 420 million unique mobile subscribers in Sub-Saharan Africa, equivalent to a penetration rate of 43%.
The region will have more than half a billion unique mobile subscribers by 2020, by which time around half the population will subscribe to a mobile service.
Four of the most populated markets in the region – DRC, Ethiopia, Nigeria and Tanzania – will account for nearly half the 115 million new subscribers expected by 2020.
A decade ago, none of this existed. Today, despite bandwidth challenges, African entrepreneurship is on the rise.
The 2017 Global Entrepreneurship Monitor (GEM) report shows that three quarters of working age adults in Africa consider entrepreneurship as a ‘good career choice’.
The GEM report also shows that ‘Total Early-stage Entrepreneurial activity (TEA) rates in Africa are amongst the highest in the world, with just under a fifth of working age adults engaged in early-stage entrepreneurial activity.
The majority, 55%, of early-stage entrepreneurs in Africa operate in retail trade, hotels and restaurants, while the second most-popular sector is agriculture, forestry and fishing, at 10%, followed by manufacturing at 8%.
Through IPA we have seen many African innovators rise above the common day challenges that affect Africans at large and go on to build successful local, regional and global businesses.
As I referenced before, the challenges are more in relation to entrepreneurs not being able to commercialize their ideas due to their lack of ability to meet the real needs in Africa, which renders their ideas technically and commercially unviable.
AIF and Innovative Initiatives in Africa
In the six years since AIF hosted the inaugural Innovation Prize for Africa (IPA), I have seen African ingenuity evolve in its sophistication and relevance. Africa’s youthful demographic has come of age in the digital era, making them early adopters of technology and the vanguard of innovation on the continent.
The continent has witnessed a cultural shift from consumers of technology to innovators capable of disrupting traditional sectors such as agriculture while pioneering relevant African-focused solutions in important growth sectors such as healthcare and clean energy.
However, not all segments of African society have been privy to being able to participate in driving the continent’s innovation needs.
In order for African innovation to truly have an impact on socio-economic transformation, we need to create more inclusive innovation ecosystems that provide windows of opportunity for Africans who are outside the formal economy to develop technically and commercially viable solutions that meet their needs as well.
Attracting Investment to Develop ideas in Africa
Africa’s investment in research and development (R&D) is less than one per cent of the global investment share. Science, Technology and Innovation (STI) infrastructure and resources continue to fall short.
These factors are amongst the reasons why very few scientific discoveries translate into viable solutions that solve real African challenges.
An innovative solution is only as good as its viability in the real world. Year after year, through IPA, hundreds of African innovators put forward solutions that they believe meet local challenges. Yet only a handful of African innovators are able to translate their ideas to the lab and scale their innovations.
There is a need for increased collaboration between researchers and innovators to facilitate knowledge transfer and enable the creation of more impactful and marketable innovations across the continent.
In an effort to close this gap, AIF recently entered into a MoU with The African Academy of Sciences (AAS) to create more value and enhance cooperation, interaction, and knowledge sharing in STI in Africa. In doing so, we aim to catalyse research-led innovations into sustainable African enterprises.
Motive Behind African Innovation Foundation
I founded the AIF in 2009 with the aim of supporting sustainable and innovation-led socio economic growth in Africa. Its key focus has been to enable Africans to create homegrown solutions for local challenges.
Then, in 2011 we launched the Innovation Prize for Africa (IPA) in partnership with the United Nations Economic Commission for Africa (UNECA). This proved to be the catalyst for unlocking the dormant African innovation spirit.
In 2012, at the joint Africa Union (AU) and UNECA conference, IPA was endorsed by the ministers in attendance, and a resolution was passed, calling for member states to work with AIF to promote innovation-based societies in Africa.
To me, this will always remain one AIF’s greatest milestones because it led to important beginnings.
Many African governments have since begun to see the real value in investing in innovation economies and have been increasingly putting innovation ahead on their development agenda.
Last year at IPA2017 held in Ghana, H.E. President Akufo-Addo pledged to commit a minimum of one per cent of GDP towards strengthening Ghana’s innovation ecosystem.
This is yet another reflection of AIF’s impact in defining the importance of innovation in securing widespread socio economic transformation.
I sincerely hope to see more African leaders make this level of commitment towards driving innovation-led growth in their respective countries.
Way out of problem of Access to Credit for Entrepreneurs in Africa
This comes down to a financing mismatch more often than not. Africa is an early stage market. The ideas on the continent are also young, reflecting a young demographic that are early adopters of technology.
At present, investors are largely interested in startups in the e-commerce, clean technology, e-health and financial services space but many of these startups are still in early stages. What they need is venture capital because they do not yet qualify for private equity.
Africa needs to attract more venture capital money in order to boost its startup scene at a faster rate.
The theme for IPA2018, ‘Investing in Inclusive Innovation Ecosystems’ calls for African governments and innovation stakeholders to invest in building bridges for more inclusive ecosystems that will accelerate and scale African innovation at all levels of society.
The aim is to find solutions to increase access to innovative financing and knowhow, and to enhance collaboration between African nations to enable local innovators to access higher value markets for their solutions at a faster rate.
We are also looking to garner increased participation form the diaspora. Diaspora entrepreneurs and investors too are uniquely positioned to recognize opportunities in their countries of cultural origin as ‘first influencers’ in fostering economic growth.
Recent research suggests that diaspora entrepreneurs can contribute to development by creating businesses and jobs, stimulating innovation, expanding global networks, and generating social capital across borders. So in this regard, IPA2018 is a call to action for diaspora investors to support African innovation and entrepreneurship.
News
Systems, Not Skin Colour, Hold the Key to Africa’s Development, Says Evans Woherem

A Nigerian development scholar, Evans Woherem, has argued that Africa’s slow pace of development is rooted less in the capabilities of its people and more in the weakness of its institutions, systems, and governance culture.

In a sweeping article titled *_“Institutions, Culture, and the African Development Question: Why Systems Matter, and How Africa Can Leapfrog Development,”_* Woherem said “human beings are broadly similar biologically and intellectually across races and geographies,” stressing that the real difference between prosperous and struggling societies lies in “systems, institutions, cultures, incentives, and historical environments.”
According to him, one of the clearest demonstrations of this reality is the conduct of Africans living abroad.
“Individuals who, within certain African environments, may tolerate disorder, circumvent rules, participate in patronage systems, or adapt to corruption often relocate to countries such as the United States, Germany, Japan, Singapore, or Canada and quickly become highly compliant with laws and institutional expectations,” he wrote.
Woherem, a former Executive Director at both First Bank Plc and Unity Bank Plc, noted that such individuals suddenly obey traffic regulations, respect public infrastructure, pay taxes, and operate efficiently within merit-based systems, insisting that “the human material did not suddenly change. The surrounding institutional architecture did.”
He lamented that many African countries still approach development through what he described as a “project-based conception of development” rather than a systems-driven model capable of sustaining progress across generations.
The author of best-selling books- “Building a New Africa,” and “Information Technology in Africa,” criticised the nature of governance conversations across the continent, saying public discourse often centres almost exclusively on visible infrastructure projects such as roads, bridges, schools, and empowerment schemes, while deeper institutional questions are ignored.
“What institutions have been strengthened? What systems have been redesigned to outlive the present administration? What governance mechanisms now function automatically regardless of who occupies office?” he asked.
The scholar argued that sustainable development cannot be measured merely by the number of projects completed but by whether nations are building durable institutions capable of continuously producing results irrespective of political transitions.
“A nation does not become advanced merely because it constructs roads,” he stated. “It becomes advanced when it builds systems capable of continuously producing, maintaining, financing, regulating, and improving those roads across generations regardless of changes in leadership.”
Woherem further blamed Africa’s institutional fragility partly on colonial structures that were designed primarily for extraction rather than national development.
He said many post-independence governments inherited centralized but weakly accountable systems and merely “localized the machinery of extraction” instead of transforming the state into a developmental institution.
The information technology expert also highlighted the absence of what he called “developmental consciousness” across many African societies, noting that issues such as industrial policy, bureaucratic reform, technological sovereignty, manufacturing competitiveness, and state capacity rarely dominate mainstream public debate.
Drawing comparisons with countries such as Japan, Singapore, South Korea, and China, Woherem said successful industrialisation was driven by strong institutions, disciplined bureaucracies, educational excellence, and long-term planning.
“Their rise was not accidental, nor was it merely infrastructural. It was deeply institutional and civilizational,” he wrote.
The development expert also challenged African media organisations to move beyond “cosmetic” reporting of governance performance by interrogating structural reforms instead of simply celebrating project commissioning ceremonies.
“Instead of merely asking how many roads were constructed, they should ask whether procurement systems have become more transparent, whether regulatory agencies function independently, whether educational outcomes are improving systematically, and whether industrial policies are producing measurable manufacturing expansion,” he said.
Woherem further stressed the importance of “Developmental Industrialists,” pointing to African billionaire Aliko Dangote as an example of economic actors whose contributions extend beyond personal wealth accumulation to building industrial ecosystems and national productive capacity.
He maintained that Africa’s future depends on stronger bureaucracies, impartial legal systems, technologically enabled governance, industrial strategy, educational reform, and a civic culture that rewards competence over patronage.
“Roads alone do not produce civilization. Systems do,” Woherem declared.
He concluded that Africa’s greatest challenge is not a lack of human potential but the absence of institutional structures strong enough to consistently bring out the best in its people.
“And until systems become the centre of African developmental thinking,” he warned, “progress will remain slower, more fragile, and more reversible than it ought to be.”
News
EFCC Which Handles Sensitive Data, Financial Records has No Privacy Policy on Website- FiJ

Economic and Financial Crimes Commission (EFCC) does not currently maintain a public privacy policy on www.efcc.gov.ng, its official website.

Ola Olukoyede, EFCC chairman, EFCC
This is despite partnering with the Nigeria Data Protection Commission (NDPC) to ensure data compliance according to findings by Foundation for Investigative Journalism (FIJ)
As a law enforcement agency, the EFCC handles highly sensitive personal data and financial records, but its main web portal does not currently provide a formal, publicly available privacy policy detailing how user data is collected, stored, or processed.
According to the National Information Technology Development Agency (NITDA), all government websites are mandated to have privacy policies.
Section 10.4 (i, ii) of the NITDA Privacy Policy mandates all government websites to exercise diligence when collecting personal details or information about visitors to their websites.
It equally requires all government websites to incorporate prominently displayed privacy statements clearly stating the purpose for which information is being collected where the government institution seeks to or collects personal information from visitors through its website.
In addition, the Nigeria Data Protection Act (NDPA) 2023 requires every data controller to make a privacy notice available to citizens before or at the point of collecting their personal data.
That notice must state the specific lawful basis of processing, the purposes of the processing, the categories of recipients of the personal data, the existence of data subject rights, and the right to lodge a complaint with the Commission.
The law further states that such information must be contained in a privacy policy and expressed in a clear, concise, transparent, intelligible and easily accessible format, taking into consideration the class of data subjects targeted by the data processing.
However, on Monday, FIJ checked the anti-graft agency’s website and found that it had no privacy policy or privacy notice informing users how their personal data is collected, processed, stored or shared.
FIJ found that Nigerians can submit petitions to the EFCC on the website.
During this process, the website compulsorily collects personal data such as names, National Identification Numbers (NIN), email addresses, local government areas (LGAs), phone numbers and residential addresses.
Also, organizations and financial institutions (such as commercial banks) are legally mandated to share customer information and suspicious transactions with the EFCC to prevent financial crimes.
However, the website collects this information without specifically informing users what happens to the data they provide.
Ironically, in September 2024, the EFCC and the Nigeria Data Protection Commission (NDPC) agreed to forge a partnership and collaboration towards strengthening cyber data protection in the country.
The agreement was reached in Abuja on September 18, 2024, when Vincent Olatunji, national commissioner and chief executive officer of the NDPC, led a delegation of management staff on a courtesy visit to Ola Olukoyede, EFCC chairman, at the commission’s corporate headquarters.
Despite partnering with Nigeria’s data protection regulator, the EFCC still has no privacy policy on its website.
At press time, the EFCC met none of the privacy policy requirements stipulated by both NITDA guidelines and the NDPA 2023.
News
Moniepoint DreamDevs Bootcamp Second Cohort Set for Demo Day

Moniepoint is proud to announce that the second cohort of its flagship DreamDevs Bootcamp is set to culminate in a Demo Day celebration on May 26, 2026, at its Ikeja facility. The event, themed “Training Done! Demo Up!”, will showcase the capstone projects built by participants following nine weeks of intensive, industry-grade software engineering training.

The DreamDevs Bootcamp is Moniepoint’s commitment to identifying and developing the brightest engineering talent across Africa. The nine-week intensive programme is designed to immerse participants in real-world, practical software engineering through a curriculum spanning Java OOP Foundations, Data Structures & Algorithms, Testing, MySQL & JDBC, Spring Boot APIs & System Design, Docker & Messaging Queues, Frontend UI & Cloud Infrastructure, and core Practical Software Engineering Concepts. In recognition of their commitment and effort, cohort participants are paid monthly throughout the duration of the programme.
The curriculum was developed by the Engineering Unit at Moniepoint and delivered in partnership with Semicolon, a leading technology education institution. Admission to the DreamDevs Bootcamp is highly competitive, with only top performers advancing through multiple stages of assessment, including a HackerRank technical test and an in-person code challenge, before earning a place in the programme.
Felix Ike, Co-Founder and CTO of Moniepoint, reflected on what the programme means to the company and the country, “Engineering excellence is a curated and intentionally built process that requires the right systems, resources, and time. The DreamDevs Bootcamp is our way of taking that responsibility seriously.
“We designed a programme that does not just teach syntax or frameworks, but develops engineers who can think, solve, and build at the highest level. Seeing graduates from our first cohort already thriving within our engineering team tells us we are on the right track, and we are excited to see what this second group brings to Demo Day.”
Some of the first cohort’s successful graduates are now active members of the Moniepoint engineering team, a testament to the programme’s effectiveness and its role as a genuine pipeline for world-class engineering talent.
The DreamDevs Bootcamp reflects Moniepoint’s broader mission to invest in Nigeria’s talent and build engineering capacity that can compete and lead on a global stage. Moniepoint looks forward to welcoming the second cohort to the fold and witnessing the innovative solutions they have built.
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