Nigeria’s AfriGo to Rival Visa, Mastercard – Central Bank
The Central Bank of Nigeria (CBN) has launched the Nigerian National Domestic Card Scheme, AfriGo, aimed at creating a more robust payment system that would drive financial inclusion in the country.
CBN governor, Godwin Emefiele, has said that transaction charges on all cards would henceforth be paid in Naira, except for international transactions.
Emefiele said the card, which will function like other international payment cards, is aimed at boosting financial inclusion in the country and reducing dependence on foreign cards. He added that “by this initiative, will therefore be joining countries like China, Russia, Turkey and India which have launched domestic card schemes and harnessed the transformative benefits for their respective payments and financial systems, particularly for the underbanked.”
The national domestic card is expected to rival Visa and Mastercard, the market’s biggest players.
The announcement follows last year’s decision to phase out old higher denomination bank notes. The new notes came into circulation effect on December 15, 2022.
Fatal Accident: Pwani University Bus Collides with Matatu in Naivasha, Leaving 14 Dead
A tragic accident has claimed the lives of at least 14 people after a Pwani University bus collided with a matatu at the Kayole Bridge on the Naivasha-Nakuru highway. The incident has left the nation in shock, with many mourning the loss of the victims and praying for the families affected by this terrible tragedy.
According to Naivasha Deputy County Commissioner Kisilu Mutua, the death toll could still rise as rescue and recovery efforts continue. He urged people to remain patient and cooperate with authorities as they work to determine the full extent of the tragedy.
The accident occurred when the bus, which was carrying Pwani University students, was travelling to the Chepkoilel campus for a national sports event. The students were travelling in two buses, with a total of 120 students, four drivers, and one sports officer.
Pwani University Deputy Vice Chancellor James Kahindi expressed his condolences to the families of the victims and noted that the university was working closely with authorities to gather information about the accident. He confirmed that the chief security officer, who was in Nairobi on official duty, had been dispatched to the scene of the accident to gather more information and provide updates to the public.
The tragic incident has left many questioning the state of road safety in the country and calling for more stringent measures to prevent similar accidents from happening in the future. It is a sobering reminder of the importance of prioritizing the safety and well-being of all road users, and of the need for continued efforts to improve road infrastructure and promote safe driving practices.
As the nation mourns the loss of these young lives, we must come together to support one another and work towards a brighter future where tragedies like this do not occur. Our thoughts and prayers are with the families and loved ones of the victims, and we hope that they find solace in the knowledge that the nation stands with them during this difficult time.
Top Fintech Companies Thriving in Kenya’s Booming Financial Landscape in 2023
As of 2023, Kenya’s fintech companies has experienced significant growth, with numerous companies offering a wide range of financial products and services. Fintech companies have revolutionized the financial landscape in Kenya by providing easy, affordable, and accessible financial solutions to millions of people who were previously underserved or unbanked.
In this post, we’ll take a closer look at some of the top fintech companies in Kenya that are thriving in 2023.
M-Pesa is perhaps the most famous fintech company in Kenya, and it’s no surprise why. Since its launch in 2007, M-Pesa has grown to become the largest mobile money platform in Africa, with over 50 million users across the continent. M-Pesa’s success lies in its ability to offer financial services to people who were previously underserved or unbanked. Through M-Pesa, users can deposit, withdraw, transfer money, pay bills, and buy goods and services using their mobile phones.
Branch is a digital lending platform that uses artificial intelligence to provide affordable and accessible loans to Kenyans. The company uses data from customers’ mobile phones and other sources to assess creditworthiness and offer loans of up to Kshs. 70,000. Branch has been successful in reducing the cost of credit and increasing access to credit for Kenyans, especially those who are underserved or unbanked.
Tala is another digital lending platform that uses data analytics and machine learning algorithms to provide affordable and accessible loans to Kenyans. The company uses customers’ mobile data to assess creditworthiness and offers loans of up to Kshs. 50,000. Tala has been successful in providing credit to Kenyans who were previously deemed too risky by traditional lenders.
Jumo is a fintech company that provides financial services to emerging markets, including Kenya. The company uses data analytics to offer credit and savings products to customers. Jumo has been successful in providing financial services to underserved and unbanked Kenyans, and it has expanded its operations to other African countries.
PesaLink is a digital payments platform that allows users to send and receive money using their mobile phones. The platform is owned by the Kenya Bankers Association and has been successful in reducing the cost of digital transactions and increasing financial inclusion.
Pezesha is a digital lending platform that connects lenders with borrowers in Kenya. The platform uses data analytics to assess creditworthiness and offers loans of up to Kshs. 50,000. Pezesha has been successful in providing affordable and accessible credit to Kenyans who were previously underserved or unbanked.
PayGo Energy is a clean energy fintech company that provides households in Kenya with access to affordable and clean cooking gas. The company uses a pay-as-you-go model that allows users to pay for gas using their mobile phones. PayGo Energy has been successful in increasing access to clean energy and reducing the cost of cooking gas for Kenyan households.
M-Kopa Solar is another clean energy fintech company that provides households in Kenya with access to affordable and clean solar energy. The company uses a pay-as-you-go model that allows users to pay for solar energy using their mobile phones. M-Kopa Solar has been successful in increasing access to clean energy and reducing the cost of solar energy for Kenyan households.
In conclusion, Kenya’s fintech industry has experienced significant growth over the past few years, and the above-listed companies have been at the forefront of this growth. These companies have been successful in providing affordable and accessible financial solutions.
Davido Confirms His Marriage to Chioma Rowland in Interview with Kiekie
Superstar David Adeleke, widely known by his stage name Davido, recently confirmed his marriage to his partner, Chioma Rowland, during an interview with skit maker, Kiekie, on Thursday. The singer had taken a break from social media following the tragic death of his son, Ifeanyi, but in this interview, he discussed his marriage, musical hiatus, and upcoming project, ‘Timeless’.
Reflecting on his time away from the spotlight, Davido spoke about the various things that had happened in his life, including his marriage to Chioma. He revealed that he had used his break to rest, reflect, and spend quality time with his family. He said, “I have had a lot to think about, time to rest, reflect on a lot of family time. Time to make music again.”
Davido also shared that before his hiatus, he had an album ready to be released, but he and his team decided to redo the entire album. He mentioned that he had traveled extensively during his break and that getting married was one of the many things that had happened in his life. He expressed his excitement to be back on the road and ready to perform for his fans.
With regards to his new project, ‘Timeless’, Davido stated that it was a collaborative effort between him and his long-time producer, Shizzi. He explained that the project was born out of the creative energy they shared in the studio, and that it was a combination of Afrobeat, R&B, and Pop music.
Davido’s confirmation of his marriage to Chioma has been met with excitement from his fans, who have been eagerly anticipating official news of their union. The couple has been together for several years, and they share a son, Ifeanyi. Although they have kept their relationship relatively private, Davido has often shared glimpses of their love on social media.
In conclusion, Davido’s confirmation of his marriage to Chioma is a significant milestone in his personal life, and it has been received positively by his fans. His return to music with ‘Timeless’ also promises to be an exciting development for music lovers, who have missed his unique sound and energetic performances.
Lagos State Government Arraigns Chrisland School Officials over Death of Pupil
On Thursday, the Lagos State government arraigned Chrisland School, Opebi, its principal, vice principal, and two employees over the death of one of the school’s pupils, 12-year-old Whitney Adeniran. This case has sparked outrage across Nigeria, and people are eagerly waiting to see justice served.
The defendants were arraigned before Justice Oyindamola Ogala of the Lagos State High Court in Ikeja. They include Ademoye Adewale, Kuku Fatai, Mrs. Belinda Amao, Nwatu Ugochi Victoria, and Chrisland School Limited. According to the charges filed by the state, the defendants allegedly killed Miss Adeniran on February 9, 2023, at about 1 pm, in Agege Sports Stadium, Agege, Lagos, by acting in a reckless and negligent manner that endangered her life.
The defendants were arraigned on two count charges bordering on involuntary manslaughter, reckless and negligent acts preferred against them by the state. The state Attorney General, Moyosore Onigbanjo, SAN, informed the court that the state had filed two count charges against the defendants, urging the court to take their plea. After the charges were read, the defendants pleaded not guilty to the allegations.
Subsequently, the Attorney General informed the court that the state has seventeen witnesses and as such will be praying for a date to open trial. The oral application was not opposed by all the defendants’ counsel.
Justice Oyindamola Ogala, who presided over the matter, thereafter fixed May 25, June 1, 8, and 15 for the commencement of trial. While in the dock, the school’s principal, Mrs. Belinda Amao, broke down in tears as the court and counsel tried to agree on a date for the commencement of the trial.
This case has sent shockwaves through Nigeria, with many questioning the safety and wellbeing of children in schools across the country. The death of Whitney Adeniran has highlighted the need for stricter regulations and oversight in schools to prevent similar tragedies from occurring in the future.
The Lagos State government has taken a decisive step in bringing the defendants to trial and ensuring that justice is served for Whitney Adeniran and her family. It is hoped that this case will serve as a wake-up call for schools across Nigeria to prioritize the safety and wellbeing of their students and take all necessary measures to prevent accidents and tragedies from occurring.
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