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ICT improvement Ease financial Transactions in Republic of Benin.

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The Republic of Benin’s population is faced with very few bank accounts, as financial education sessions are multiplying through fairs that combine finance and technology.

With the explosion of the ICT sector and the development of mobile financial services, banking is becoming more accessible, this is what this Bank Director, Armel Allavo who participated in the Fintech exhibition in the capital, Cotonou believes.



“The mobile-phone penetration rates in Benin today is over 80%. So by offering financial services through this channel, we are sure to be able to reach people even in the remotest areas of the country.

This is what motivated the development of some solutions with the advent of technology to facilitate the provision of financial services via digital channels.’‘ he said.

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Throughout Africa, banking innovation is a new space for start-ups to conquer but there is still a long way to go.

Financial inclusion is now one of the objectives of sustainable development. Donors, governments and technical and financial partners are working to achieve this objective.

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“We were at 2% technology use. Today, with BCEAO data, we are at 17%. The program started in 2016, so I think there was a plus.

We have the state that created the conditions, but with the partnership with OTECHs, FINTECHs, and institutions that are able to collect savings it has made it possible to have these results today,” said MicroLead Program Consultant,Madinatou Ahounou.

Financial inclusion is now one of the objectives of sustainable development. Ensuring that ICT innovations benefit all, including the most disadvantaged, which is the major challenge facing African states.

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Motherland News

CAF Sidelines Nigerian Centre Referees for 2019 AFCON

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Out of the Twenty-seven centre referees penciled down for the 2019 African Cup of Nations, countries like Burundi, Mali, Zambia and Sudan are represented on the list, but no Nigerian referee was selected for the big occasions.

However, only one assistant referee from Nigeria named Baba Adel was listed among the twenty-nine assistant referees selected by the African Football Governing Body.

The competition will be held from 21 June to 19 July 2019, as per the decision of the CAF Executive Committee on 20 July 2017.

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Motherland News

Nigerian Govt Seeks U.S.$1 Billion Loan for Power Sector Again.

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Apart from the accumulation of 2.74 trillion Naira the Nigerian government under the watch of President Olusegun Obasanjo, President Umar Yaradua and Goodluck Jonathan have differently spent on the development of the Power sector, Federal government have commenced discussion with the World Bank with the hope of taking a $1 billion loan.

The Minister of Finance, Mrs. Zainab Ahmed made this disclosure at the press briefing marking the end of the 2019 Spring Meetings of the World Bank and the International Monetary Fund, IMF, in Washington DC, USA, yesterday.

Meanwhile, The Federal Government have allegedly spent another 900 billion Naira within the last four years through the ministry of Power and Steel, under the watch of Babatunde Fashola.

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