E-Business
Visa Eyes $1.3 Trillion Digital Opportunity in Africa

Africa’s digital payments landscape holds immense potential, with $1.3 trillion in cash transactions across the continent yet to be digitized.
This is according to Visa, which provided insights on the digital payments landscape in Sub-Saharan Africa during the Visa Security CEMEA Summit, held in Cape Town on Tuesday.
Aida Diarra, senior vice president and head of Sub-Saharan Africa at Visa, said that cash-based economic activities present a significant opportunity for merchants and consumers to digitise their operations, creating a multiplier effect to drive financial inclusion and economic development.
Diarra attributes Africa’s continued use of cash to various factors, primarily the restricted availability of digital payments, which impacts over 200 million people across the continent.
The primary factor holding back adoption is access, she said. “Technology is now offering us the possibility to better drive the access. We can now embed a card credential into a wallet to make a payment from your phone.”
She added that the recent increase in reach of such solutions has led to an acceleration of digitised payments. “There is a 20% growth, year-on-year, of digital payments and it’s driven by that (improved reach).
In addition to improving access, there’s a need to improve acceptance of digital payments too.
“In order to pay, you need to have merchants that accept payments, and here again, technology is a phenomenal driver; look at the merchant’s ability to use their phone as an acceptance device.”
According to Visa, only eight million merchants on the continent accept digital payments, with 44 million still not heeding the call to transition to digital payments.
Diarra said Africa accounts for 70% of mobile money globally and players such as Fintechs, mobile network operators, micro-lenders, and e-commerce players are pushing the continent’s mobile first agenda.
When it comes to alternative digital payments solutions like cryptocurrency, she says the big African markets will have the first mover advantage because of the landscape they operate on, with markets like South Africa, Kenya, and Nigeria already leading the pack in cryptocurrency usage, not only in Africa, but globally. She optimistically notes that because of the opportunity technology presents, other markets have room to leapfrog.
She explains: “A few years back, looking at landlines and the numbers of households that did not have access, and then with mobile telephony coming, we went past that and created further access.
“The big economies will probably lead the (cryptocurrency) charge. With this, cost comes down, technology becomes nimbler, and adoption would be accelerating in other markets.”
Because of the DNA of the ecosystem in some markets and challenges to access hard currency, crypto is leveraged in these markets to issue and make payments, Diarra said.
“This is something we need to continue to monitor, and that is likely to continue to grow. The good news is that regulators are beginning to appreciate this is a trend that’s here to stay, and that there needs to be proper rules and frameworks to make sure that they fully have visibility and continue to enable the use of such capabilities,” she concludes.
E-Business
INEC Sets Up AI Division to Strengthen Electoral System

Independent National Electoral Commission (INEC) has announced the establishment of an Artificial Intelligence (AI) Division within its ICT Department.
This marks a significant stride toward enhancing electoral integrity, efficiency, and innovation in Nigeria’s democratic process.
This decision was reached at the Commission’s regular weekly meeting held in Abuja, following a series of consultations and engagements on the global and continental impact of AI on elections.
In a statement issued by Sam Olumekun, national commissioner and chairman of the Information and Voter Education Committee, INEC underscored that the growing relevance of AI in electoral matters necessitated a proactive institutional framework to manage both the risks and opportunities it presents.
“Our interactions with electoral bodies across Africa highlighted both the risks of AI—such as fake news and content manipulation—and the vast potential it holds for data-driven decision-making, risk mitigation, automated voter services, and geo-spatial intelligence for logistics,” Olumekun noted.
According to him, the newly created division will centralise the Commission’s AI efforts, ensuring a harmonized approach to deploying intelligent systems that enhance decision-making, improve voter engagement, and boost the credibility of the electoral process.
“The creation of this division puts the Commission at the forefront of institutionalizing AI capabilities in electoral management.
It is also part of our ongoing reforms in areas where administrative action is sufficient to drive change,” he said.
He added that the AI Division will help INEC better coordinate its existing technological investments while providing safeguards against the misuse of AI technologies.
“We are positioning ourselves to maximise the positive impact of AI while mitigating its negative implications. This step strengthens the credibility and transparency of elections in Nigeria,” Olumekun concluded.
The initiative, INEC emphasised, reflects its commitment to embracing innovation in safeguarding democracy and improving electoral services nationwide.
E-Business
CAC, NIBSS Unveil Platform for Data Access to Private Firms

Corporate Affairs Commission (CAC) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) has unveiled a new Application Programming Interface (API) integration system to allow private firms access company data from the Commission’s database.
Hussaini Ishaq Magaji (SAN), registrar general of CAC, who spoke in Abuja at the unveiling said the system would give selected private organizations access to CAC services through technology-based companies, called “super agents.”
“This is a practical step to show that the Commission is committed to meeting the expectations of our customers,” he said.
Magaji explained that the integration allows the agents to retrieve data from the CAC database for use in specific client requests, outside the standard services provided by the Commission.
“Before now, only a few government agencies had this integration, especially those involved in investigations, anti-money laundering, and terrorism financing. Now, private companies that meet the criteria can also access it,” he said.
He said the system complies with the Nigerian Data Protection Act 2023, and information such as residential addresses, phone numbers, and dates of birth may be restricted.
“This is a call to law firms and companies with the right technology. We’ve started with NIPS because of their credibility. Embassies and banks can now authenticate company records directly through them.”
“There are prescribed fees. We already collect them on our portal, and now customers can also pay through these agents,” he explained.
He named NIPS, MoneyPoint, and OPE as some of the companies involved.
“OPE and MoneyPoint handle only registrations. But NIPS has moved further into validation and verification,” he said.
Ngover Ihyembe-Nwankwo, executive director at NIBSS, who represented Premier Oiwoh, managing director, said the service allows secure and efficient data verification.
“This is the result of years of effort to connect our systems with CAC. It will help users verify data within the limits of data protection laws,” she said.
She said the move is a way to lower costs and promote interoperability across the financial sector.
E-Business
FG Launches Online Citizenship, Business Management Platform

Ministry of Interior has announced the launch of a new Online Citizenship and Business Management Platform in line with the Renewed Hope Agenda of President Bola Tinubu.
A statement signed by Dr Magdalene Ajani, permanent secretary, Ministry of Interior’s said the initiative forms a key part of its ongoing reforms aimed at promoting transparency, enhancing operational efficiency, and significantly improving service delivery to the public.
The new digital platform is designed to streamline the application and processing of citizenship and business-related services, ensuring faster turnaround times and improved user experience.
The platform allows users to apply for and manage business permits, ensuring that both local and foreign businesses operate legally in Nigeria.
It includes an Expatriate Quota System to manage work permits for foreign employees, helping companies hire skilled workers while complying with Nigeria’s immigration laws.
The Citizenship Administration and Management System provides a streamlined online process for applying, tracking, and managing Nigerian citizenship applications and related services.
Members of the public, corporate entities, and other stakeholders are expected to access the platform through the ministry’s website: https://interior.gov.ng , Direct Portal Access: https://candb.interior.gov.ng , or contact [email protected] for support and inquiries.
“The Ministry of Interior remains committed to establishing a more efficient, transparent, and secure framework for citizenship administration, while continuously enhancing service delivery through digital transformation,” the statement read in part.
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