E-Business
There’s a Line Between e-Payment and Mobile Payment-Moroney
Sean Moroney, is chairman of Aitec Africa, whose core business since 1987 has been focussed on ICT publishing, event management, professional development and training in Africa.
Moroney’s company has been market-leading pioneer in terms of spreading knowledge on the Internet, computing and telecommunications across most of English-speaking Africa.
He spoke to hilary okeke on the forthcoming Aitec banking and payment technology conference and other issues.
Aitec Banking and Payment Technology Conference
Aitec Banking and Payment Technology Conference is a platform where experts in banking technology from Nigeria, South Africa, U.K and other parts of the world, come together to share their knowledge with the professionals and managers that attend the conference. Last year we had over 400 delegates attending the conference. In parallel with the conference, we have the exhibition which is the marketing showcase for the industry. Here, we see the latest technologies for the banking and financial services sector under one roof, providing a competitive situation where the banks and other potential buyers of the products can compare and actually quiz the companies that are on display about the services they are providing.
Major Achievements
The Banking and Payment Technology Conference has transformed the development of the financial credit sector from one that is rather traditional and colonial in perspective, to one that is now more outward looking, more inclusive and providing services for the unbanked. The problem that the conference has is that the vast majority of the populace still remains unbanked. They do not have basic financial services in order to transfer funds; in order to get money from one part of the country to another and also to be able to save their funds securely. The mobile banking phenomenon has hit East Africa in a big way and it is expected in this part soon. That would be a major focus of this year’s conference – Mobile Banking or what we call Branchless Banking. So, that has been the major achievement of the conference, providing a forum where new developments that are rapidly evolving can be deliberated.
Nigeria Ripe for e-Payment
Definitely! I think one needs to draw a line between e-payment and mobile payment. The former is facilitated by the Internet. I think the infrastructure is not well developed, in that way a lot of people do not have access to the Internet. For mobile payment, we are going to see huge increases in terms of volumes. Because there is rapid roll out of mobile telephony in the country, one can now leverage on that infrastructure and develop mobile banking.
Potential of Branchless Banking in Nigeria
Well, the potential is limitless. It still boils down to leveraging on the mobile networks, and there is big potential. You can use the mobile networks to transfer from user-to-user; you can also deploy wireless systems with mobile devices to function in the rural areas. At this moment, we have thousands of agents vending mobile scratch cards. Those agents can be trained and upgraded to actually become bank agents and can be in charge of certain transactions. So, the opportunities are boundless.
Role of Telecommunications in Mobile Banking
Telecommunication networks provide the backbone of the mobile banking system. In Kenya for example, on the M-pesa system there are millions of customers making fund transfers through the mobile system. The time has come for the banks to partner with mobile operators to provide these services because they have the proper banking expertise and experience in order to provide customers with the security and professionalism they need using mobile banking; whereas the mobile operators are more experienced in the infrastructure aspect. There is the need for partnership between the two sectors in order to provide effective mobile banking services.
Replicating M-pesa’s Success in Nigeria
Of course it could, but the right regulatory environment needs to be put in place. The Central Bank is grappling with that at the moment. Moneybox has been given mobile banking licence, which indicates some progress. I think we are on the eve of another banking revolution in Nigeria and we will see millions of people making use of their mobile phones for banking transactions.
Microfinance Banks and Mobile Banking
That is an important focus of this year’s conference – it includes the microfinance institutions. The conference, which would be in partnership with CGAP, EFIna and the World Bank, is going to focus on fashioning out ways in which these new technologies and new ideas can be utilized by the microfinance institutions. One of the sessions would be “Linking MFIs, Banks and payment Providers: What are the Obstacles in Nigeria?” So, we are going to look at what the problems are and what are the solutions. That would be a major focus of the conference – to find a way around to actualizing the benefits of these new developments.
Place of the Unbanked in the Branchless Banking Scenario
The unbanked are the target audience. The key untapped market out there needs low cost banking solution to be able to transfer funds from one point to another; a low cost solution to be able to invest their funds effectively, as well as access micro loans to develop their businesses. That is very critical in a branchless banking system that is based on telecoms networks.
Issues at this Year’s Event
They include latest software developments for ATMs. We will be looking at e-channels for microfinance banking, and the major focus will be on security issues. As we speak about mobile banking, security is a major problem. So, we would be looking at solutions in terms of security. We would be addressing ATM software trends for 2009/10, contact centres in banking, matters arising in Islamic banking, among others. In the exhibitions, we have a number of South African countries participating and we would be seeing a lot of cutting-edge technologies.
E-Business
Kaspersky Reveals Malware Attacks on SMBs Disguised as AI Services Surged by Five Times in 2026

From January to April 2026, Kaspersky security solutions detected more than 33,300 attacks on small and medium-sized businesses (SMBs), in which malicious or unwanted software for PCs were disguised as popular artificial intelligence (AI) services. This number has surged by almost five times when compared to the same period in 2025.

A new Kaspersky report reveals threat analysis and mitigation strategies to help SMBs protect themselves against the evolving threat landscape.
Kaspersky experts explored the extent to which threat actors target small and medium-sized businesses with malware disguised as legitimate AI services, considering the growing popularity of such tools for the business workflow. At the beginning of 2026 the most common lures in cyberattacks involved malware posing as ChatGPT (42%), Claude (24%), and DeepSeek (20%).
Among unique malicious files detected in the SMB sector and masqueraded as AI services, Kaspersky experts observed mainly different Trojware (Trojans and Trojan-like malware), including those capable of downloading and running other malware on compromised devices.
Trojware disguises itself as harmless files to trick users into installing them. Their functionality may vary depending on the type of the malware. It may include stealing, deleting, blocking, modifying or copying users’ data, as well as other malicious capabilities. Given this, Trojware represents a highly dangerous cyberthreat to entrepreneurs and businesses.
However, in 2026 Kaspersky telemetry detected even more attacks on SMBs, in which malicious or unwanted software for PCs were disguised as messenger apps and video conferencing software: Telegram, WhatsApp, Zoom and Microsoft Teams. From January to April Kaspersky solutions blocked almost 415,000 such attacks.
The number of attacks changed marginally compared to the previous year’s figures. Thus, Kaspersky experts note that the lure of fake communication apps remains a widespread cyberthreat.
“The threat landscape is evolving with new lures constantly appearing. For example, for the first four months of this year our solutions for small and medium-sized businesses detected hundreds of attacks, in which malicious or unwanted software were disguised as OpenClaw – an AI tool that rapidly gains popularity in 2026.
Corporate employees are increasingly using various AI services and other tools in their workflows, including those that are publicly available. Thus, to be on the safe side, SMB employees – as well as all users – should exercise caution when looking for software on the Internet. Always check the correct spelling of the website and links in suspicious emails, and use robust security solutions,” says Vasily Kolesnikov, security expert at Kaspersky.
“As adversaries constantly refine their methods to exploit human error, the need for up-to-date security awareness training for businesses of all kinds and sizes is undeniable. However, the reality is that micro-organisations often struggle to allocate time and budget to regularly update their staff on the latest threats and malicious trends.
“We believe this issue can be largely addressed through solutions tailored for small businesses which deliver robust core protection while also providing accessible security education,” adds Rodion Pyanov, product manager, Kaspersky Small Office Security.
E-Business
LG Showcases AI-Powered Smart Living Innovations @ Africa Technology Expo 2026

LG Electronics has reaffirmed its commitment to advancing innovation and smart living across Africa by participating as a supporting sponsor at the Africa Technology Expo (ATE) 2026, where the company is showcasing its latest portfolio of premium consumer electronics and home appliance innovations.

The two-day expo, themed around strengthening Africa’s enterprise technology ecosystem through collaboration and innovation, has brought together industry leaders, technology innovators, multinational companies, policymakers, and entrepreneurs to explore opportunities for cross-border partnerships and digital transformation across the continent.
As one of the supporting sponsors of this year’s event, LG’s interactive exhibition booth has become a major attraction, offering visitors firsthand experience of the company’s latest AI-powered technologies designed to enhance everyday life while delivering greater comfort, convenience, energy efficiency, and connectivity.
Among the innovations on display are the latest LG QNED TV, delivering exceptional picture quality and immersive entertainment; the iconic MoodUP™️ Refrigerator, which combines intelligent cooling with customizable LED door panels; the innovative LG WashTower™️, an all-in-one premium laundry solution that maximizes space and efficiency; the energy-efficient LG ARTCOOL Air Conditioner and LG Air Tower, designed to provide smarter climate control; alongside LG’s advanced Dehumidifier and other intelligent home solutions.
Speaking on LG’s participation, Mr. H.S. ji, Managing Director, LG Electronics West Africa, said: “Africa Technology Expo provides an excellent platform to engage with innovators, businesses, and consumers who are shaping the future of technology across the continent. At LG, innovation goes beyond creating advanced products, it is about developing meaningful solutions that improve everyday life.
“Our participation reflects our commitment to supporting Africa’s digital transformation while introducing intelligent technologies that make homes and workplaces smarter, healthier, and more energy-efficient.”
The Africa Technology Expo was established to foster stronger collaboration among African businesses, emerging enterprises, and multinational organisations. During the opening ceremony, the organisers emphasized the need for deeper continental collaboration to unlock Africa’s innovation and economic potential, noting that previous editions of the expo have facilitated approximately $192 million in business deals among participating companies.
LG’s presence at the event aligns with this vision by demonstrating how cutting-edge consumer technology can support economic growth, digital inclusion, and sustainable development across Africa.
Visitors to the LG booth are participating in live product demonstrations, interactive experiences, and expert consultations, gaining valuable insights into how LG’s AI-powered ecosystem seamlessly connects home appliances and entertainment products to deliver a smarter lifestyle.
As technology continues to reshape industries and everyday living, LG remains committed to driving innovation that empowers consumers, supports enterprise growth, and contributes to Africa’s evolving digital economy.
E-Business
Want a Business Loan Without Interest? SMEDAN Launches N500m Fund

Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has secured a 12 million-dollar commitment from the South Korean Government to establish a Skills Acquisition Centre in Abuja to boost entrepreneurship and strengthen Nigeria’s Micro, Small and Medium Enterprises (MSMEs).

SMEDAN
The Director-General of SMEDAN, Mr Charles Odii, disclosed this in a statement on Sunday to commemorate the 2026 World MSME Day with the theme: “Empowering MSMEs through Innovation and Sustainable Industrial Development.”
Odii said the proposed centre would provide vocational and entrepreneurial training for thousands of young Nigerians and improve the productive capacity of small businesses across the country.
He said the agency was awaiting the allocation of land by the Federal Capital Territory Administration (FCTA) to commence the project.
According to him, SMEDAN is determined not to allow Nigeria to lose the opportunity presented by the South Korean Government’s intervention.
“We need land in the FCT to build the Skills Acquisition Centre. If the FCT Administration is unable to provide one, we will use our office premises in Idu, Abuja, because we do not want Nigeria to miss this 12 million-dollar commitment and opportunity offered by the Korean Government to support skills and vocational training,” he said.
Odii described MSMEs as the backbone of Nigeria’s economy, noting that the agency’s interventions were aimed at empowering small businesses to drive employment and economic growth.
“Small businesses are the heartbeat of Nigeria’s economy. They contribute significantly to employment generation and economic growth.
“By providing infrastructure, skills and financing, we are creating an enabling environment for them to grow, thrive and contribute meaningfully to national development,” he said.
The SMEDAN boss also announced the launch of a N500 million zero-interest Grow Fund to improve access to affordable finance for MSMEs.
He said the facility would be disbursed through cooperative societies, trade associations and business membership organisations under a revolving loan arrangement.
Odii explained that the association-based lending model was designed to improve accountability, ensure effective monitoring and guarantee that funds reached genuine entrepreneurs.
“We visited traders at the market because it is not enough to sit in offices and formulate policies without understanding the realities of the people we are meant to serve.
“We met with butchers, pepper sellers, vegetable traders, provision store owners and market leaders, and they all said one thing: they need access to affordable finance.
“That was why we immediately decided to launch the N500 million Grow Fund. We are not giving the money directly to individuals. We are giving it to associations that know their members and can monitor how the funds are used,” he said.
According to him, beneficiaries will access loans ranging from N250,000 to N500,000, depending on their business needs, without paying interest.
“The funding is meant to support and improve businesses. It should be used for working capital, workspaces, tools and other productive business needs.
“It is a revolving fund. When one beneficiary repays, another entrepreneur can access the same money. This way, the impact of the intervention continues to expand and more small businesses can benefit,” he added.
Odii said the agency planned to expand the fund through partnerships with state governments, development partners and financial institutions willing to provide matching funds.
He also disclosed that SMEDAN had commenced consultations on a new National MSME Policy, expected to be relaunched in November, to strengthen the policy framework for the sector.
He reaffirmed the agency’s commitment to supporting small businesses through skills development, access to finance and policies that would enhance their competitiveness and contribution to Nigeria’s economic development.
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