New JAMB information on 2024 result check without phone number
The Joint Admissions and Matriculation Board (JAMB) has released new information for 2024 UTME candidates, alerting them to recent fraudulent activities involving third-party services claiming to assist in obtaining examination results without registered SIM cards. Fraud Alert: Fomo Web3 @Chaser67y JAMB has identified an individual operating under the alias Fomo Web3 with the handle @Chaser67y on X (formerly Twitter) and some other social media platforms. This individual is reportedly offering services to check JAMB results for candidates who have lost their registered SIM cards. However, JAMB warns that this is a scam designed to deceive gullible candidates. Collaboration with Raphael at LASU CBT centre Fomo Web3 is allegedly working with another individual named Raphael, who is based at the Lagos State University (LASU) CBT Centre. Raphael’s contact number is 0704 451 2628. Together, they are targeting candidates in need of their UTME results and can’t access their JAMB registered phone number, offering fake services in exchange for money or personal information. Official JAMB guidelines JAMB has reiterated several key points for candidates to avoid being scammed: 1. Do not patronise third parties Candidates are strongly advised against using third parties for any JAMB-related services.. 2. Official JAMB results checking channel 2024 All services and communications related to JAMB examinations are handled directly through JAMB’s official platforms, and SMS is the only verified channel to check your 2024 JAMB results. JAMB does not sanction any external promises of assistance, and are likely fraudulent. Consequences for fraudsters JAMB has assured candidates that Fomo Web3 @Chaser67y and his collaborator Raphael will soon be brought to justice. Legal actions are being taken to address their fraudulent activities and protect candidates from further harm. New JAMB information on protecting candidates in 2024 The new JAMB information 2024 aims to protect candidates by emphasising the following: Rely solely on official JAMB channels and verified platforms like Techcabal for all examination-related needs. Avoid sharing personal information with unauthorised individuals or entities. Report any suspicious activities or offers to JAMB immediately. Final thoughts on new JAMB information on 2024 result check without phone number JAMB’s new information for 2024 is clear: candidates must follow official procedures and avoid third-party services to ensure the integrity and security of their UTME results and personal information. If there is any other means of accessing the 2024 UTME results, it will be officially announced.
Read More
Check WAEC results 2024
Once you’re ready to check your West African Examinations Council (WAEC) results for 2024 you’ll need a guide. This article will walk you through the simple process of checking your WAEC results for 2024. There are two main methods for checking WAEC results 2024: online and via SMS. Both methods require your 10-digit WAEC Examination Number (your seven-digit centre number followed by your three-digit candidate number), your examination year (2024), and your WAEC result checker PIN. You can find your examination number and year on your Statement of Entry (SCE) document, while the PIN comes on your result checker voucher. Unlike the 2024 JAMB exams that allows only one method of result checking, WAEC allows for two ways: Method 1: Checking WAEC Results 2024 Online Visit the WAEC official results checker website: WAEC result checker. Enter your 10-digit WAEC Examination Number in the designated field. Select “2024” from the Examination Year dropdown menu. Choose the type of examination you took (e.g., PRIVATE CANDIDATES RESULTS or SCHOOL CANDIDATES RESULTS). Enter both the e-PIN Voucher Number and PIN in the respective fields. See how to get your e-PIN voucher here. Click on “Submit” and wait patiently. Your WAEC results 2024, including your grades for each subject, will be displayed on the screen. You can print your results out after checking. Method 2: Checking WAEC results 2024 via SMS Open your messaging app and create a new SMS message. In the message body, type the following information in this format (without spaces): WAECExamNoPINExamYear. For example, if your Exam Number is 4800101221, PIN is 123456789012, and the year is 2024, you would type: WAEC42501010011234567890122024. In the recipient field, type the shortcode 32327 (applicable to MTN, Airtel and Glo subscribers only). Send the SMS and wait for a reply containing your WAEC results 2024. A service charge of ₦30 will apply depending on your network provider. Final thoughts That’s about all it takes to successfully check your WAEC results in 2024. Remember, you can use either method mentioned above to access your grades. But if you do not get your results on both counts, you may need to reach out to WAEC for assistance.
Read More
JAMB spends almost ₦3bn on CBT, PTC centers in 2024 UTME
The Joint Admissions and Matriculation Board (JAMB) has disclosed that it spent ₦2,688,708,000 on CBT and PTC centers during the 2024 Unified Tertiary Matriculation Examination (UTME), sparking critical discussions about the effectiveness of this financial outlay. Detailed breakdown of expenditure Here’s the breakdown provided by JAMB regarding the allocation of the money spent during the last UTME 2024 exams: 1. JAMB-owned Professional Testing and Certification Centers (PTCs): Amount Allocated: ₦92,596,500 Number of Centers: 27 2. Privately Owned CBT Centers: Amount Allocated: ₦2,596,111,500 Number of Centers: 733 This breakdown shows a significant portion of the budget is directed towards privately owned CBT centres, raising questions about accountability and oversight. Issues and failures on the JAMB UTME 2024 Despite the hefty expenditure, the 2024 UTME was plagued by several issues: Operational Failures: Many centres reported technical glitches and disruptions during the exams. Rescheduling: Exams had to be rescheduled in various locations, causing candidates inconvenience and casting doubt on the efficiency of the process. Critical concerns noted from this issue on the JAMB UTME 2024 Here are some talking points concerning this financial report: 1. Effectiveness of spending The substantial funds allocated to CBT centres did not translate into a seamless examination process. The operational failures suggest that the investment in technology and infrastructure could have been adequate or better managed. 2. Accountability and oversight With a significant amount directed to privately owned centres, there is a pressing need for transparency in how these funds were used. The frequent issues at these centres indicate potential oversight and quality control lapses. 3. Candidate experience The need to reschedule JAMB 2024 exams, largely due to technical issues, disrupts the candidates’ schedules and undermines the integrity of the examination process. Final thoughts on JAMB spending almost ₦3bn on CBT, PTC centers in 2024 UTME The ₦2.69 billion expenditure by JAMB on the 2024 UTME raises serious concerns about the efficiency and management of these funds. This calls for a thorough review of JAMB’s spending practices, oversight mechanisms, and the overall management of the UTME to ensure that such substantial investments lead to tangible improvements in the examination experience and integrity.
Read MoreBeyond the numbers: Unlocking the potential of Nigeria’s booming youth population
This article was contributed to TechCabal by Dr Fola Aina. Nigeria boasts the world’s largest youth population, with a median age of 18.1. Nearly 70% of Nigerians are under 30, and 42% are below 15, which amounts to a staggering 151 million young people. This youthful demographic is juxtaposed against significant challenges: high poverty rates, widespread unemployment, and ongoing issues with food security, safety, and property protection. Youth unemployment rose from 7.20% in the second quarter of 2023 to 8.60% in the third quarter. Historically, from 2014 to 2023, the youth unemployment rate averaged 22.97%, peaking at 53.40% in late 2020 and dropping to a low of 6.90% in early 2023. Nigeria stands out as one of the eight countries driving global population growth and leads in Africa. With a projected population of 216 million, these figures represent 216 million potential opportunities for development and progress. However, Nigerian youth face numerous hurdles, including high unemployment, limited educational access, economic challenges, a significant HIV/AIDS prevalence, and pervasive poverty. Technology is fundamentally reshaping our lives and work as the world rapidly embraces digitalisation across all sectors. Nigeria must stay caught up in this transformation. The vast opportunities that artificial intelligence (AI) presents—in areas such as navigation, education, real estate, and project management—highlight technology’s immense potential for elevating Nigeria to a global powerhouse. To propel the country forward, emphasis must be placed on new technologies, social media, digital marketing, agriculture, fintech, and other emerging industries. Harnessing the energy and creativity of Nigeria’s youth is crucial for achieving this vision. Notable success stories underscore the burgeoning role of technology in Nigeria’s economic landscape. In March 2021, Flutterwave, a Nigerian fintech startup, garnered international attention by securing $170 million in funding, achieving a valuation of $1 billion, and entering the elite group of corporate unicorns. A few months earlier, in October 2020, the U.S. tech giant Stripe acquired another Nigerian fintech startup, Paystack, for $200 million. These landmark deals highlight the growing significance of Nigeria’s technology sector within the national economy. Flutterwave’s valuation now rivals some of Nigeria’s largest banks, contributing 0.22% to Nigeria’s GDP of $448 billion. For Nigeria to continue on this path of innovation and growth, it is imperative to invest robustly in science and technology education at all levels. This investment will give the youth the necessary skills to develop groundbreaking technologies that address the country’s challenges and drive economic prosperity. Nigeria’s Information and Communication Technology (ICT) vision is ambitious, incorporating computer education into the curriculum at all educational levels. A key objective of this vision is to equip young Nigerians with ICT skills, preparing them to compete on a global stage. Effectively empowering the youth in this way serves as a potent catalyst for national development. Youth empowerment fosters a culture of innovation and creativity, driving economic progress. Technology is integral to the rapid advancement of STEM (Science, Technology, Engineering, and Mathematics) education in Nigeria. Numerous platforms now offer educational programs and boot camps in these crucial disciplines, forging a strong link between youth development and technological prowess. STEM education enhances employability and aligns young people with the evolving demands of the labour market. The increasing internet penetration in Nigeria, which reached 122.5 million users and 55.4% of the population by early 2023, offers a significant opportunity to amplify youth education through digital solutions. Among young Nigerians, digital media enhances issue awareness, promotes literacy, and improves access to healthcare. This digital engagement lays the groundwork for a more informed, skilled, and resilient youth population poised to lead Nigeria into a prosperous future. According to data from the Nigerian Bureau of Statistics, only approximately 22% of schools in Nigeria have access to computers and the internet. This starkly low figure is mainly due to financial constraints within the education sector and a need for substantial government investment in public institutions. Such underinvestment hinders the ability of Nigerian schools to compete with their international counterparts. Addressing this gap in ICT infrastructure is crucial, as it can significantly uplift the nation’s educational standards and contribute to broader societal benefits. Enhanced access to technology in schools can play a pivotal role in eradicating poverty by equipping students with essential digital skills needed in today’s job market. It can also raise the quality of education, fostering a more informed and skilled populace. Moreover, better educational resources promote good governance by creating an enlightened citizenry that can hold leaders accountable. Increased investment in educational technology could lead to job creation within the tech sector, reduce crime through improved socioeconomic conditions, and bolster national security by providing youth with constructive pathways and reducing the allure of criminal activities. A few years ago, Nigeria launched 5G technology, a move expected to enhance the socio-economic landscape and foster inclusive growth nationwide significantly. According to the latest GSMA Mobile Economy report, the integration of 5G could add an impressive $2.2 trillion to Africa’s economy by 2034. This technological advancement, coupled with Nigeria’s youthful population, has set the stage for numerous opportunities to improve the quality of life and raise living standards. For the first time, the vision of accessible, affordable, and inclusive healthcare and education is within reach. However, accelerating the deployment and adoption of 5G is crucial for empowering various population segments, from unemployed youth to older people. This technological leap necessitates the upskilling of millions of professionals and educators to ensure they meet global standards and adopt the latest methodologies in their fields. The widespread connectivity enabled by 5G facilitates remote learning and working, bridging service delivery and skill acquisition gaps. The upcoming Dr. Fola Aina Annual Colloquium on Youth, Leadership, and Nation Building, organised by the Triola Aina Foundation, will be a significant event in December 2024. This colloquium will spark important discussions around youth development and leadership, highlighting the transformative role of technology in national advancement. It will gather young leaders, visionaries, and change-makers from Nigeria to explore and strategise on pressing issues, positioning technology as a cornerstone for driving the nation’s progress. Acquiring digital
Read More
Sabi, Nectar Fresh, and Meadow Foods partner to solve supply chain problems in Oyo State forest reserve
Sabi, a B2B startup that builds digital tools to aid commerce, will partner with Nectar Fresh and Meadow Foods to create a reliable supply chain for cash crops like cashew nuts and shea nuts. The project, approved by the Federal Ministry of Environment, will involve the management of 250,000 hectares of the Opara Forest reserve in Oyo State. The three companies will invest an estimated ₦52 million over the next year. Tagged the Oyo State Aggregation Initiative, the project will create jobs for at least 350 people by year-end and drive economic growth in Saki, Otiki, and Agbugudu communities. A centralized warehouse in Saki will also be built to provide quality storage for export-ready commodities. The partnership comes as Nigeria battles its highest food inflation in nearly three decades and the surge in food prices putting millions of Nigerians at risk of malnutrition. The agriculture supply chain has come under tremendous pressure with climate change reducing yields and security challenges in many parts of the country raising transportation costs. Many experts say technology and technical know-how can solve some structural problems in the supply chain. The project is expected to create 30,000 metric tonnes of cashew nuts and 10,000 metric tonnes of shea nuts. “By empowering small farmers and providing them with the resources and market access they need, we are fostering economic growth and community development in Oyo State,” said Ademola Adesina, president and co-founder of Sabi. Meadow Foods, the local subsidiary of Dutch parent Acrosstrades, will handle project development and management, quality assurance, and technology integration on the ground. While Nectar Fresh will engage with community leaders of the Opara Forest to ensure access to and development of farmers and their crops.
Read More
#OccupyParliament begins in Kenya with police blocking access to parliament
#OccupyParliament began on Tuesday with protesters unable to gain access to Parliament. They’ll try again on Thursday when legislators plan to debate the controversial 2024 Finance Bill. On Monday, the handwriting was on the wall. By Tuesday, when the ruling Kenya Kwanza coalition was ready to compromise on the unpopular 2024 Finance Bill, it was too little, too late. Despite offering to scrap some proposed taxes, many Kenyans believe the bill—which proposes new taxes on cars, mobile money transactions, alcoholic beverages, and other items—is a poisoned chalice and want it thrown out entirely. For weeks, those sentiments remained online, and on the social media network X hashtags like #RejectFinanceBill2024 soon began trending. The hashtag also spread via humorous quips on Whatsapp channels and statuses. Eventually, the pushback against the 2024 Finance bill spilled offline. By 11 am Tuesday, hundreds of angry Kenyans with anti-government placards had gathered at meeting points in downtown Nairobi. From the National Archives building and the bus terminal Kencom, they marched along Harambee Avenue to the parliament building chanting, “Ruto must go.” Anti-riot police officers were resolute that the parliament building was off limits as they lobbed teargas into the crowd. Online activist Hanifa Farsafi was arrested, but the protesters, who want the government to scrap the Finance bill, could not be discouraged. Videos of protesters chanting and singing in police cells across the city circulated online, with Kenyans claiming the events of Tuesday were a reminder of people power. This Government has managed to get this age group from their comfort zone to the streets… interesting times pic.twitter.com/M3cRysLcWF — Andy (@AndyKe_) June 18, 2024 In what some would call poetic justice, a policeman injured his arm while throwing a tear gas canister into a nearby crowd. Small groups of people engaged police in running battles around the winding streets, hiding in narrow footpaths connecting main streets. “Nearly everything is beyond our reach now. MPs must know that the power belongs to the people and they were elected to serve us,” said Frank Ojiambo, a 31-year-old activist. Unlike protests in 2023 organised by opposition groups, Tuesday’s rally attracted younger Kenyans often characterised as politically indifferent. On X and TikTok, the march was likened to a GenZ “revolution” as videos of young protesters were shared. “We demand that MPs reject the bill and start fresh. We won’t accept an amended version meant to fool us,” Michael Muchiri, a 23-year-old first-year university student, told TechCabal. Young opposition politicians chided the president for not listening to the public’s grievances. As it became clear the protesters would not gain entrance to parliament, Kimani Ichungwa, the majority leader in the national assembly, announced the house would continue debating the bill on Thursday. “The president does not even listen to his advisers. The only public participation the president will listen to is demonstrations,” opposition MP Babu Owino told journalists. “This is shameful, because this bill will take dignity from our citizens by imposing taxes on items like diapers and sanitary pads. These protests will continue and I urge Kenyans to demonstrate up to the State House.” At 5 pm, the official time to end protests per Kenya’s constitution, there were chants in downtown Nairobi as the #OccupyParliament protesters made their way to bus terminals, promising to continue fighting until the “punitive” taxes are dropped. Ruto, who won the Presidential election in 2022 with a pledge to uplift millions of Kenyans from poverty, has maintained Kenya must raise taxes to balance finances strained by mounting debt repayments and low revenue collection. Critics have argued that the tax policies target basic items like bread and milk at a time when many Kenyans are already struggling with the high cost of living. Ruto’s administration said the tax hikes will raise an extra $2.7 billion (KES347 billion), which is needed to deal with the country’s growing debt burden and fund development projects, including new roads and affordable housing. Kenya’s external debt is $85.6 billion (KES 11 trillion), part of which Ruto inherited from the previous administration. Treasury officials have argued that Kenya’s debt-carrying capacity is at a high-risk level, limiting the government’s options to fund the $30.3 billion (KES 3.9 trillion) 2024 budget. “Our capacity to carry more debt is not sustainable so we have to raise revenue and cut expenditure. Any further accumulation of debt would mean Kenya will have no fiscal space,” Chris Kiptoo, treasury principal secretary, told parliament on June 12.
Read More
👨🏿🚀TechCabal Daily – Nvidia’s blue chip
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Good morning We are thrilled to announce our speakers for Moonshot 2024! Prepare to be inspired by the industry’s finest brains in the African tech industry as we reveal some of our fantastic speakers for Moonshot 2024. Join us for a fantastic event packed with insights, innovation, and the ability to turn your tech ambitions into reality. Stay tuned for more speaker announcements and save your seat at the conference by getting your early bird tickets. In today’s edition Vodacom fires 631 people over fraud Nvidia becomes the most valuable company in the US US sues Adobe over consumer rights violations Sanlam acquires 60% stake in Multichoice insurance business The World Wide Web3 Job openings Layoffs Vodacom fires 631 people over fraud South Africa’s mobile giant, Vodacom, which has a market share of 8% is in the middle of seeking approval to merge with Vumatel and Dark Fibre Africa (DFA). If successful, this merger would create Maziv, the biggest fibre network in the country. But hold on a sec, there’s a snag. Another fibre network company, Frogfoot, isn’t exactly thrilled. Frogfoot worried this merger would squeeze them out, leaving less competition for everyone. Additionally, South Africa’s Competition Commission has voiced its opposition to the merger, echoing Frogfoot’s. Already, Vodacom might be putting the foot before the frog. After releasing its financial results earlier this year, the company also downsized its workforce by 80 people in South Africa as part of cost-cutting measures. Reports have now revealed that the company has terminated the contracts of 631 staff and contractors and arrested 15 individuals on suspicion of various irregular activities and fraud within the company. The company employs about 14,000 employees. Vodacom comes for fraud: Thanks to customers, service providers, online snoops, business tip-offs, their own fraud-busting system, and even some external whistleblowers, Vodacom uncovered a whole lot of suspicious activity—over 8,600 cases in total! Almost 7,000 involved customers or suppliers, while the rest were internal issues with employees. From April 1, 2023, to March 31, 2024, Vodacom’s corporate security teams looked into 8,652 suspected fraud or irregular cases. The outcome led to the arrest of 15 suspects and the dismissal of 631 staff and contractors, Vodacom stated in the latest Annual Report for the network operator for the 2023/24 financial year A spokesperson of Vodacom said to a news outlet that the group has a strict stance on fraudulent activities across its operational markets and continues to take appropriate measures to safeguard its clientele. The company also mentioned that it employs cutting-edge technology within its systems to recognise and pinpoint internal and external misconduct. Vodacom added that the process of hiring replacements for the dismissed employees will differ across countries, as each decision is made independently in each country. Process payments smoothly with Moniepoint And we’ll have processed almost 5,000 more by the time you’re done reading this. Your business payments can be one of them. Click here to sign up. Companies Nvidia becomes the most valuable company in the world What’s inevitable? Rain, death, taxes and now, the astronomical rise of Nvidia’s stock prices. For the last year and a half, stock prices of the $2 trillion chip giant have been on a tear. If you invested $1,000 in Nvidia stock in October 2022, your investment would now be worth over $7,000. Fueling this growth has been its advancement in making processors that power artificial intelligence systems, especially chips for Artificial General Intelligence (AGI). Yesterday, Nvidia’s market capitalisation reached $3.34 trillion, surpassing Microsoft’s $3.33 trillion. Apple remains the third most valuable company in the US with a $3.27 trillion market cap. Nvidia’s rise to the top comes after Apple’s short stint as the US’ most valuable company. Stocks of the iPhone maker shot up after it announced it was adding new generative AI features to the iPhone. The stock rally didn’t last long as Microsoft took back the top spot after just a day. While Nvidia’s new, more powerful chip, Blackwell doesn’t launch until later this year, investors worry that there might be a slowdown between now and then. But right now, none of that matters. The only thing that can stop Nvidia right now is if the AI machines it powers turn on its creators. Issue USD and Euro accounts with Fincra Create and manage USD & Euro accounts from anywhere. Fincra allows you to issue accounts to your users, partners & customers to collect payments without the stress of setting up and operating a local account. Get started today. Big Tech US sues Adobe over consumer rights violations If you’ve been online the past day, you may have seen several social media users sigh a sense of relief over the latest big tech lawsuit, US v Adobe. “Finally, they are so wrong and make it difficult to cancel. They charged me an extra month before I was able to finally cancel,” JustMarvG, an X user said. Another tweeted, “I am glad the US is suing Adobe for their harmful, inconvenient subscription practices.” So what’s up? This week, the US Federal Trade Commission (FTC) filed a complaint accusing Adobe of hiding fees, which can sometimes amount to hundreds of dollars, and other crucial terms within its “annual paid monthly” subscription plan. It’s hard to cancel an Adobe subscription, and the US is going after the company for this reason. Almost all of Adobe’s revenue in Q1 came from subscriptions. In the quarter ending March 1, 95% of Adobe’s $5.18 billion in revenue came from subscriptions, totalling $4.92 billion. The FTC alleges that Adobe violated the Restore Online Shoppers’ Confidence Act, a federal law enacted in 2010. This law prohibits merchants from imposing charges or deceptive charges such as those for automatic subscription renewals unless it discloses essential terms and obtains informed consent from customers. It also names two Adobe executives David Wadhwani, the president of the digital media, and Maninder Sawhney, a senior vice president
Read More
👨🏿🚀TechCabal Daily – Africa Data Centres raises $108.9 million
In partnership with Share this newsletter: Lire en Français اقرأ هذا باللغة العربية Eid Mubarak If you haven’t, please move TC Daily to your Primary/Main folders so you don’t miss any of our important coverage. And if—a big if—we’re in spam or promotions, just drag and drop this email away from Spam to Primary if you’re on desktop, or click the buttons on the top right corner and select “Move Email” if you’re on mobile. Thank you! In today’s edition ADC raises $108.9 million to increase data center capacity Airtel activates first phase of 2Africa cable Safaricom and Pezesha launch new loan service The Nigerian government weighs in on data use The World Wide Web3 Job openings Cloud Computing ADC raises $108.9 million to increase data centre capacity Africa houses less than 2% of the world’s co-location data centres. These statistics come as no surprise, as the continent lacks energy infrastructure and government policies to support the launch of these data centres. While the government may be unable to support these data centres, external investors have jumped in. Since 2022, 25 new data centers have been launched on the continent, with big name data centre operators like Equinix and Microsoft launching in Cape Town and Nairobi. In February, Airtel also announced plans to launch its data centre in Kenya. And now, Africa Data Centres, a telecom service provider, has raised $108.9 million to expand its capacity in South Africa. ADC, which currently operates four data centres across South Africa, will use the funding to increase its data centre’s power capacity by 20MW to support more servers and infrastructure. The increased inflow of data centres across the continent might also be partly attributed to artificial intelligence, as systems need large amounts of data and computational resources to operate effectively. While these investments signify positives for Africa, there’s room for improvement. According to data from the Africa Data Centres Association, more than half of the data centres in Africa are located in South Africa, leaving room for investments across other regions in the continent. Process payments smoothly with Moniepoint And we’ll have processed almost 5,000 more by the time you’re done reading this. Your business payments can be one of them. Click here to sign up. Internet Airtel activates first phase of 2Africa cable Poor internet connectivity may be coming to an end in Africa with the activation of subsea cables. With the aim of spanning three continents and reaching 1.3 billion people, the 2Africa project is the world’s longest subsea cable designed to interconnect Africa, Europe, and Asia. It will provide high-speed internet to Africa’s remote regions and boost 4G/5G adoption. Shortly after Google announced its first undersea fiber optic cable that will connect from Africa to Australia, Airtel Telesonic, the wholesale arm of Airtel Africa announced the activation of the first phase of 2Africa cable. The first phase connects Kenya, Tanzania and South Africa thereby boosting internet connectivity across Kenya, Tanzania and South Africa. Airtel Telesonic achieved this feat by partnering with well-respected Alcatel Submarine Networks (ASN) which specialises in building underwater cables with advanced technology. This partnership was essential for Airtel to achieve building 16 pairs of optical fibers. Eight companies joined forces to create the 2Africa cable consortium: Bayobab, MTN, Center3, China Mobile International, Meta, Orange, Telecom Egypt, Vodafone Group, and WIOCC. The cable measures 45,000 kilometers and is the world’s longest subsea cable; it will connect 33 countries across Europe, Africa, and Asia. With landing points in 46 locations, this massive undersea infrastructure boasts a high capacity of up to 180Tbps, significantly boosting internet connectivity for millions of people. In March, internet connectivity was disrupted causing telecommunications and banking services in some parts of Africa due to subsea cable cuts. Since then we have seen increased attention on protecting subsea cables and providing more cables to avoid a recurrence of the disruption. Issue USD and Euro accounts with Fincra Create and manage USD & Euro accounts from anywhere. Fincra allows you to issue accounts to your users, partners & customers to collect payments without the stress of setting up and operating a local account. Get started today. Fintech Safaricom and Pezesha launch new loan service When it comes to loans in East Africa, Safaricom is at the top of the game. Its Fuliza product, as of 2022, was being used by over 7.8 million East Africans who borrow KES1.57 billion ($12 million) everyday—over $5 million annually. Another loan offering, M-Shwari, has over 10 million customers and disburses 50,000 loans every day. Kenya’s lending market is so ripe, even the government jumped in for a bite with the launch of the Hustlers’ Fund in 2022. Safaricom is also pushing deeper into this market by expanding its loan offerings. It has teamed up with Pezesha, a digital lender, to offer Mkopo wa Pochi, a loan product that will provide small business owners with convenient access to credit through their M-PESA business accounts. Launched as part of the M-PESA super app update, Mkopo wa Pochi complements Pochi la Biashara, Safaricom’s business wallet catering to small business owners. Pochi La Biashara users are business owners such as food vendors, small kiosk owners, boda-boda operators, secondhand clothes dealers, etc. The partnership leverages both companies’ strengths: Safaricom’s vast M-PESA user base (over 32.4 million active users) and Pezesha’s expertise in digital lending. Here is how the loan works; Mkopo wa Pochi offers short-term financing and is meant to be repaid quickly, with a base term of 7 days. Borrowers can choose to extend the loan for another 7 days, but there’s an additional fee for doing so. Kenn Abuya has more important details in his coverage. What do you want to see from Paystack in 2024? Paystack would love to hear from you! Let us know what improvements or new features you’d like to see from Paystack in 2024. Share your wishlist here → Telecoms Here’s why your data bundle expires quickly If, like this writer, you wonder why you spend so much
Read MoreSafaricom and Pezesha launch new loan service for small businesses
Safaricom, Kenya’s top mobile network, has picked Pezesha, a digital lender, to provide credit to small business owners, which will add to the telco’s existing loan products, including M-Shwari and Fuliza. The new product, Mkopo wa Pochi, will allow small business owners to borrow money directly through their M-PESA business accounts. Mkopo wa Pochi, already available through Safaricom’s M-PESA super app through an update rolling out today, will complement Pochi la Biashara, Safaricom’s business wallet for small business owners. This marks Pezesha’s debut in Kenya’s mobile money market by partnering with Safaricom, which will give it access to the telco’s vast customer base of over 32.4 million active M-PESA users. Mkopo wa Pochi takes advantage of both company’s strengths. Safaricom’s Pochi la Biashara has over 632,000 active merchants, and processed $564 million (KES 73 billion) in transactions that generated $6 million (KES 800 million) in revenue for the operator between March 2023 and March 2024. Pezesha, on the other hand, is known for its credit partnerships and expertise in digital lending, having worked with Marketforce, Kysok App, and Rocket Health. Mkopo wa Pochi loans have a one-time access fee of 2.76% on the borrowed amount. Borrowers have a 7-day term with a single and optional 7-day extension. Extending the loan incurs a one-time fee of 3.85% for the entire 14-day period, and late repayments will be subject to a 1% daily penalty for a maximum of 7 days. Pezesha will assess Pochi la Biashara customers’ creditworthiness using tools like credit bureaus that list loan defaulters. “Pezesha may make a credit assessment after considering information from various sources, including but not limited to your business transaction history with Safaricom, your mobile money account transaction history, your credit information from the Credit Reference Bureau, your history of use of the product and prevailing market conditions,” Safaricom says in the product’s terms and conditions page. In May 2024, Pezesha secured a $500,000 grant from the U.S. International Development Finance Corporation (DFC) to improve its credit scoring technology. This follows a $11 million pre-Series A funding round in 2022 led by Women’s World Banking Capital Partners II.
Read More
Code for BVN check 2024 on all Nigerian networks
The Bank Verification Number (BVN) is a cornerstone of Nigeria’s banking security. It serves as a unique identifier, linking your bank accounts to prevent fraud and enhance security. In this article, we’ll provide you with the code to check your BVN on all major Nigerian mobile networks in 2024. Importance of your BVN Understanding and using your BVN is vital for several reasons: 1. Enhanced security: With all your bank accounts tied to one BVN, fraudsters cannot manipulate your accounts. 2. Smooth transactions: Your BVN is required for many banking services in Nigeria, including new account openings, mobile banking, and fund transfers. 3. Government verification: Increasingly, government services are also relying on BVNs for identity verification. Accessing your BVN easily allows you to confirm its validity, manage account linkages, and ensure all information is accurate. USSD code to check your BVN in 2024 Checking your BVN is easy, regardless of your mobile network. Follow these steps: 1. Dial the code: Open your phone’s dialer and enter the code for BVN in 2024 – *565*0#. This code works with MTN, Airtel, Glo, and 9mobile. 2. Confirm fee: You may be prompted to confirm a service charge of N20 (subject to change). Reply with “1” to proceed. 3. Get your BVN: After confirming your payment, your 11-digit BVN will be displayed. 4. Save for use: Write down your BVN or take a screenshot for future use. Registering for BVN in 2024 If you need to register for a BVN, here’s how: 1. Visit your bank: Go to your local bank to book an appointment. 2. Complete the form: Fill out the provided form. 3. Provide documentation: Present necessary documents such as a Nigerian Passport, National ID Card, Driver’s License, or Passport (for non-Nigerians). 4. Undergo registration: Complete the registration process, which includes capturing facial images and biometric data. 5. You should receive your BVN within 24 hours. Final thoughts on code for BVN check 2024 on all Nigerian networks The code for BVN check in 2024 is *565*0#, and it is easy to check your BVN on any Nigerian mobile network. Knowing your BVN strengthens the financial system and gives you access to a broader range of financial services.
Read More