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Progronics Unveils Symbols for Microfinance Banks

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Leading Information and Communications Technology solution provider, Progenics, has extended its generic brand Symbols to the banking sector with the unveiling of Symbols Micro-finance banking application.

Symbols Micro-finance is a comprehensive and integrated microfinance banking application. The system has been designed to systematically align all facets of banking operations to produce unparalleled customer service delivery without the attendant operational bottlenecks.

The core modules Symbols Micro-finance includes system administration, customer information system, general ledger, customer accounting and teller operations/front office.

Others are credit management, fixed asset management internet based customer service delivery that allows customers to log on to the web to check their account balance, as well as investment management.

Mr. Tony Udoh, managing director, Progenics, said that Symbols Micro-finance aims at ensuring that the challenges that may hinder the smooth operations of Micro Finance banks are mitigated.

"We have scaled down our modules to allow them buy into the application and also to help Micro Finance banks meet Central Bank of Nigeria requirement," he said.

Symbols Micro-finance is an integrated and advance application system designed specifically to meet the information technology requirements of Micro Finance Banks.

It consists of several modules applications that interface seamlessly together. The relational database management system Symbols Micro-finance uses is the Oracle RDBMS, which is the industry leader in performance and features in the field of object-relational database management systems.

The application system uses the industry standard windows interface that is already very popular in business circles and as such users with basic no problem getting used to the entire suite of applications.

The system has been designed with several advanced features to enable microfinance banks easily integrate these applications.

Progenics Corp Limited has been at the fore front of the Information Technology revolution in the financial sector of the economy. Its’ leading role in the software development sector has been consolidated over the years.

In less than four years after the conceptualization and introduction of the software, it has claimed about thirty percent of the total market share and more firms are already at different stages of acquiring the software. Apart from penetrating the Nigerian market with such unusual virility, Symbols has gone ahead to become the toast of asset managers in other African countries especially in Ghana where almost twenty percent of stockbrokerage and asset management companies are already subscribed to the software.


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Mart Networks Rolls Out Tailored Cybersecurity Solution for Fintechs

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Mart Networks, a leading cybersecurity distributor across Africa and the Middle East, has unveiled a specialized cybersecurity package tailored for fintech firms.

The solution, powered by Invinsense, Infopercept’s unified cybersecurity platform, aims to address the growing security needs of fintechs operating in highly regulated environments.

According to Moiz Maloo, Managing Director at Mart Networks, fintech companies face unique security challenges due to stringent regulatory requirements and increasing threats. “Most fintechs don’t have the luxury of multiple internal security teams or system integrators. With this focused offering, we’re providing an all-in-one platform with managed services built specifically for the fintech environment,” he said.

The offering integrates four key components: Invinsense XDR and Managed Detection & Response for real-time monitoring, Exposure Management for vulnerability detection, Security Compliance Management to support fintechs in meeting regulatory standards, and Cybersecurity Awareness Programs to empower teams against cyber threats.

Furthermore, the package includes deep application visibility, ensuring fintech-specific applications remain secure through Invinsense SIEM’s custom log ingestion capabilities. To reinforce protection, Infopercept’s engineering team will provide code-level fixes, patches, and infrastructure security enhancements.

With the rise of cloud-based fintech operations, the solution also incorporates full-stack cloud security, including API security, Cloud Infrastructure Entitlement Management (CIEM), and Application Security Posture Management (ASPM).

Mart Networks’ move underscores the growing importance of cybersecurity in Africa’s fintech sector, as financial services become increasingly digital and susceptible to evolving cyber threats.


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Equinix Expands Digital Footprint in Nigeria with Launch of LG2.3 Data Center

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Equinix, Inc. the world’s digital infrastructure company™, has officially opened its latest data center expansion in Lagos. Called LG2.3, the facility will support Nigeria’s growing digital transformation efforts, providing state-of-the-art colocation and secure interconnection solutions which will empower businesses across the region.

It also signifies Equinix’s unwavering dedication to advancing Nigeria’s position in the global digital economy, reinforcing the company’s commitment to the region.

As part of the inauguration, Bruce Owen, President of EMEA at Equinix, along with other Equinix executives, led the ribbon-cutting ceremony at the newly expanded site. In addition to an official visit to the Governor of Lagos State, Equinix hosted an exclusive customer engagement event, bringing together key customers and partners from Nigeria’s business and technology sectors.

Attendees discussed shared successes and Equinix’s role in facilitating digital transformation, while also connecting directly with Bruce Owen for insights into how Equinix’s solutions drive innovation and business agility in the region.

Equinix executives also took part in a tree-planting ceremony, symbolising Equinix’s continued investment in sustainable initiatives across the globe and highlighting the company’s broader goal of reducing its carbon footprint while supporting greener practices across its operations worldwide.

Speaking about the expansion, Bruce Owen, President of EMEA at Equinix said “Nigeria is a crucial market for Equinix. Today’s opening is a clear demonstration of our continued commitments to invest and grow digital infrastructure that will benefit the many thousands of businesses in Nigeria and on the continent as a whole.

“I am deeply encouraged by the enthusiastic partnerships and innovations emerging from this dynamic region, which continue to inspire our commitment to Nigeria’s digital and sustainable future.”

Adding to this, Wole Abu, Managing Director of Equinix West Africa, highlighted the critical role of data centers in driving economic growth stating “Data centers continue to play a pivotal role in driving economic development in Nigeria, serving as critical infrastructure that supports digital transformation and economic growth.

“As governments and enterprises increasingly acknowledge their significance, global demand for data center capacity is poised to rise. While Africa’s demand for data solutions is still evolving compared to more mature markets, the continent is demonstrating strong potential for digital adoption and innovation.

“To meet this growing need, Equinix is actively advancing three major data center projects in Nigeria, with future expansion plans for Ghana, Côte d’Ivoire, and South Africa.”

Equinix remains steadfast in its mission to enable secure, scalable, and sustainable digital growth for economies across the world.


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African Women Hit Hardest as Mobile Internet Gender Gap Persists

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African women remain among the most digitally excluded globally, with smartphone affordability and digital literacy among the key barriers. New data from the 2025 GSMA Mobile Gender Gap Report, launched recently, reveals a persistent global gender gap in mobile internet use across low- and middle-income countries (LMICs).

It further notes that literacy, digital skills, safety, and affordability of data also remain critical barriers. The report highlights that 885 million women across these regions still do not use mobile internet, with nearly 60% of them living in Sub-Saharan Africa and South Asia.

While mobile internet is the primary way women in LMICs access the internet, offering critical lifelines to health, education, and financial services, the pace of female adoption has stalled, leaving 235 million fewer women than men connected.

Claire Sibthorpe, head of digital inclusion at GSMA, highlighted that the gender gap had narrowed significantly between 2017 and 2020, but progress flatlined in recent years.

Although 2023 brought a slight improvement, restoring the gap to 15%, 2024 saw minimal change, with the gap settling at 14%.

The disparity is most severe in Sub-Saharan Africa, where women are 29% less likely than men to use mobile internet.

“It’s disheartening that progress in reducing the mobile internet gender gap has stalled. The digital divide is driven by deep-rooted socio-economic and cultural factors that disproportionately impact women,” said Sibthorpe.

GSMA projects that closing the gender gap by 2030 could add $1.3 trillion to GDP across LMICs and deliver $230 billion in revenue to the mobile industry.

The report, funded by the UK FCDO, Sida, and the Gates Foundation, stresses the urgent need for targeted investment and policy action to bridge the digital divide and ensure that no woman is left offline.

“The mobile internet gender gap is not going to close on its own. It is driven by deep-rooted social, economic, and cultural factors that disproportionately impact women,” said Sibthorpe.

 


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