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Technology Startups to Enjoy Tax Holiday – FG

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Information Communications and Technology (ICT) industry across the country are to enjoy tax holidays and special intervention funds from the federal government.

This is to enable them to meaningfully help government to realize the creation of three million jobs targeted by 2018.

The Minister of Communications, Adebayo Shittu, and Afolabi Imoukhuede, Senior Special Adviser, SSA to the President on Job Creation/Youth Empowerment office of the Vice President, gave this hint when the Minister visited Yaba Technology Ecosystem Hubs in Lagos.

The minister expressed satisfaction at the infrastructures on the ground and said: “As you all know, the ICT innovations is powering economies across the globe, creating employments and wealth. It is impacting on the way we live and the way we do businesses; the Buhari administration is at the forefront of diversifying our economy and he is resolved to develop the ICT sector through Local Content initiative. Government will support Yaba and all ICT hubs across the country because it is a veritable platform to achieve our ICT and job creations objective.

“We are going to replicate what is happening here in Yaba in other parts of the country in partnership with stakeholders. We are going to start in Ibadan and Katsina state in the next three months. Both the governors of Oyo and Katsina have agreed to provide facilities for the establishment of these hubs.”

The minister further noted that countries like Singapore, India, have set up special interventions to support the high growth ICT industry; so, we will be supportive of whatever initiative that you have. Through National Technology Development Agency, NITDA, we are going to introduce ICT Innovation fund to cater for early startups and ICT incubation scheme to support establishment of more high growth incubators across the country. We believe with these incentives, the sector will witness tremendous growth and generate employment and massive wealth for our people. We are also going to monitor the hubs across Nigeria in order to ensure standards and to mold them for global competitiveness. Our aim is to make Nigeria the ICT hub for Africa.”

He charged entrepreneurs in the sector to articulate some of the challenges they are facing and the sorts of intervention they want from government to sustain the existing hubs and more importantly Government has always been the driving catalyst for funding startups. Imokhuede, added that government is really going to help entrepreneurs in the sector especially startups by giving them tax incentives, in the form of tax holidays.

“We are working on the details. We have a million jobs to be created this year and we have a target to create three million jobs over the next three years-2016-19. What is keen for me as the SSA on job creation is for us to be able to look at which sectors we can create jobs, and ICT, for us is a key area for job creations.

For two reasons- you can create jobs within the sector, and you can use ICT as an enabler to also create a lot of jobs. And that is why we are focusing on ICT and digital world for jobs creation; it is therefore important that we visit places like Co-Creation, where you have an organic growth.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

Mastercard And OPay Announce Partenership Deal

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NIBSS

Fintech giants, Mastercard and Opay have announced a partnership deal to foster a global payment ecosystem to boost digital commerce in Middle East Africa and Africa at large.

This comes on the heels of the partnership deal Mastercard signed with Coinbase a couple of months ago to enable payments in the NFT marketplace.

Investors King gathered that the partnership with Mastercard is to simplify users’ experience in the NFT marketplace by allowing millions of people access the Coinbase to mint, purchase, showcase, and discover NFTs. Mastercard has said all the NFT-related transactions would be classified as ‘digital goods’.

This collaboration is the latest step in Mastercard’s emerging market strategy, which involves the technology company collaborating with fast-growing Fintechs like OPay to broaden access to digital transactions, encourage a variety of leisure amenities, develop new financial inclusion trajectories, and endorse the next formation of apps.

Customers are actively asking for a single platform that allows them to do numerous daily tasks more easily, such as sending and receiving money, ordering meals and groceries, scheduling transportation, lending, investing, and putting products for sale.

Customers of OPay will be able to pay on worldwide web platforms using Mastercard’s secure virtual payment system, which is linked to the OPay wallet.

With or without a bank account, OPay customers will benefit from a superior digital experience for a variety of lifestyle services and new digital commerce options.

In addition to enabling digital commerce, the two companies will collaborate to develop solutions that will position OPay at the forefront of financial services in the areas they serve.

Executive Vice President for Market Development, Mastercard EEMEA, Amnah Ajmal, said: “At Mastercard, our innovation strategy is rooted in partnerships to support inclusion at scale. Our partnership with OPay demonstrates our commitment to supporting payments providers across the world to create an interconnected global payments ecosystem that benefits an array of consumers with unique needs.”

CEO of OPay, Yahui Zhou, said: “As the leading fintech in the Middle East and Africa, we are delighted to be partnering with Mastercard as we continue on our journey to promote financial inclusion, helping to open up the global economy to more consumers and businesses across Middle East and Africa.”

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Fintech

Skaleet and Mobiblanc Announce Partnership for a Cutting-edge Technology to Serve Banks Across Africa

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Skaleet

Skaleet, an international fintech providing a next-generation Core Banking Platform (CBP), has partnered today with Mobiblanc, an Agile Digital Services Entreprise (ESN), to offer turnkey solutions to financial institutions across Africa. The partnership will ensure that financial institutions have the capacities to launch new digital and innovative financial solutions that they can provide to their customers, whether businesses or individuals.

Mobiblanc, based in Morocco and Tunisia, is a leading player in North and West African markets entirely devoted to digital solutions. With a talented and dynamic team, Mobiblanc delivers an efficient and effective consulting and integration service for a wide range of clients.

Skaleet enables retail banks and financial institutions to launch new banking products and services for their customers at a competitive price. Through its open, modular, and flexible Core banking Platform, Skaleet offers innovative and scalable banking solutions that are built end-to-end and tailored to each customer.

The digital marketplace is continually, and rapidly, developing and evolving and the partnership between Skaleet and Mobiblanc enables financial institutions to ensure clients stay at the forefront with innovative and cutting-edge technology. Providing the best service and advice to clients, Skaleet and Mobiblanc are able to respond quickly to the digital evolution of banking and financial services with innovative and agile solutions that are competitively priced.

Yves Eonnet, chairman and co-founder of Skaleet said, “Today, it is essential for financial institutions to be able to innovate quickly and adapt to change. The ecosystem we have built relies on expert partners who are aware of this challenge and can find solutions. We quickly saw a cultural, technological and business fit between our two organizations and are delighted to have partnered with Mobiblanc. The partnership will enable us to further expand our offering and add value to our customers across Africa.”

Youssef El Alaoui, co-founder of Mobiblanc, added, “This partnership confirms our strategic orientation to support the digital transformation of the financial sector. We share the ambition with Skaleet to offer integration of innovative solutions with cutting-edge, technological expertise in order to bring added value to our partners and respond to the new business requirement of the sector.”

Both Skaleet and Mobiblanc are committed to continue innovating and creating new modules and functionalities to reshape the banking and financial ecosystem in favour of a formal, inclusive and sustainable development of the African continent.

Skaleet and Mobiblanc will participate at Africa Pay & ID Expo 2022 (APIDE), 26-28 May 2022, Marrakech, Morocco.

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“We Suspend Over Half A Million Spam Accounts Every day” – Twitter CEO Reveals

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Twitter CEO, Parag Agrawal has revealed that Twitter suspends over half a million spam accounts on the site every day.

In a series of tweets, the tech guru discussed extensively on the issue of Spam,  how the impacts have affected human work, and how the company works extensively to solve them.

This comes barely three days after Investors King reported the reasons Parag sacked top Twitter officers.

“First, let me state the obvious: spam harms the experience for real people on Twitter, and therefore can harm our business. As such, we are strongly incentivized to detect and remove as much spam as we possibly can, every single day. Anyone who suggests otherwise is just wrong.

“Next, spam isn’t just ‘binary’ (human / not human). The most advanced spam campaigns use combinations of coordinated humans + automation. They also compromise real accounts, and then use them to advance their campaign. So – they are sophisticated and hard to catch.

“Some final context: fighting spam is incredibly *dynamic*. The adversaries, their goals, and tactics evolve constantly – often in response to our work! You can’t build a set of rules to detect spam today, and hope they will still work tomorrow. They will not

“We suspend over half a million spam accounts every day, usually before any of you even see them on Twitter. We also lock millions of accounts each week that we suspect may be spam – if they can’t pass human verification challenges (captchas, phone verification, etc),” he tweeted.

Further emphasizing on the challenge the team encounters, Parag said: “many accounts that seem like spam are real accounts and they cause the most damage to other users. In retrospect to that, the team updates the systems and rules constantly to remove as much spam as possible, without inadvertently suspending real people or adding unnecessary friction for real people when they use Twitter”.

He added that the use of private data is particularly important to avoid misclassifying users who are actually real.

“FirstnameBunchOfNumbers with no profile pic and odd tweets might seem like a bot or spam to you, but behind the scenes we often see multiple indicators that it’s a real person”, he said.

 

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