E-Business
Orange Digital Ventures Backs Nigerian Start-up with US$1.5M
Orange Digital Ventures (ODV) Africa has announced a US$1.5-million seed investment round in Youverify, a Lagos-based digital identity and address verification start-up.
In its statement, Orange Digital Ventures Africa said the start-up automates identity and background verification processes, primarily serving financial and telecommunication service providers.
Gbenga Odegbami, Co-founder and CEO Youverify aims to help companies automate the verification processes of different types of data treated separately – such as identity, academic background, home address, credit history, facial recognition, for example, while respecting the highest standards of regulation and data protection.
Youverify is the fifth company to join the portfolio of Orange group’s African investment initiative.
According to Orange Digital Ventures Africa, financial and mobile payment services continue to accelerate their development on the continent.
“Verification tasks remain complex and manual for major players, Fintech and large corporates and the rise of RegTech companies, such as Youverify, is key for the market in order to speed up and simplify these tasks,” the telecommunications firm stated.
The companies say the investment will help Youverify improve its technology and accelerate business development in Nigeria and the continent.
Said Odegbami, “This constitutes a unique opportunity for us to take further our ambition to simplify and secure our client’s internal processes, whether in the recruitment of staff, customer on-boarding etc. Our ambition is to be the leading African player in verifying people and companies’ identities by making data protection and security the core of our proposal. ”
Grégoire de Padirac, Investment Manager at ODV, said, “Matters of security and access to financial or telecommunications services should never be at odds with each other.
“Telecom operators like Orange are at the forefront of these transformational challenges. We are proud to support Youverify, which intends to resolve this triple objective of fostering financial inclusion, strengthening security and preserving user rights over their data.”
According to the start-up, since its launch in 2018, it has performed over 300,000 customer registrations and verifications “for some of Nigeria’s largest banks and financial companies.”
E-Business
NITDA, NIMC Partner for Seamless Data Exchange Capabilities
National Information Technology Development Agency (NITDA) and the National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance synergy between digital identity, payment ecosystems and secure seamless data exchange capabilities for Nigeria.
NITDA, which made the announcement on its X handle, said that the collaboration was to further strengthen Nigeria’s digital economy in line with President Bola Tinubu’s Renewed Hope Agenda,
During the meeting, Kashifu Inuwa, director general of NITDA, and Bisoye Coker-Odusote, director general of NIMC, with some management staff of both organisations, discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.
This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of public-key infrastructure (PKI) to drive digital transformation in Nigeria.
To ensure a smooth implementation, a 12-man committee was set up.
This committee will play a crucial role in kickstarting and harmonising the initiatives and is expected to deliver a comprehensive implementation report within the next 4 weeks.
E-Business
Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes
Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.
Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.
The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.
Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,
“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.
According to him, the unified data pool will empower intelligence gathering and targeted operations.
He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.
“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’
Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.
“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’
Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.
“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.
“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).
“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.
Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.
According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.
Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.
Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.
E-Business
Konga launches Infinix Brand Week with Incredible Deals
Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.
Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.
Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.
“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”
To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.
- Telecom2 days ago
Imperative of Upholding Nigeria’s Telecoms Lifeline
- News2 days ago
Kaspersky Warns of Data Stealers Hunting for User Credentials
- E-Financial2 days ago
Hydrogen, CCHub Partner to Encourage Fintech Startup Success
- Telecom2 days ago
What You Need to Know About Multifactor Authentication Fatigue Attacks and How they can be Prevented
- E-Financial2 days ago
CBN Cuts Banks’ Loan-to-Deposit Ratio to 50 Percent
- Telecom2 days ago
Samsung Returns to Top of The Smartphone Market – Industry tracker
- E-Financial2 days ago
Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs
- Telecom1 day ago
FG Plans EO to Criminalise Fiber Cable Damage Costing Telcos Billions