Commerce

This agreement will enhance DTB’s digital strategy in Kenya, addressing increasing demand for digital payments. (Image source: Network International)

Diamond Trust Bank, a tier one bank listed on the Nairobi Securities Exchange (NSE), partners with Network International, the leading MEA digital commerce solutions provider, to enhance digital payment solutions, offering advanced card hosting, processing, and security features in Kenya 

This agreement will bolster DTB’s digital-first strategy in the Kenyan market, addressing the growing demand for digital payment solutions fueled by increasing internet penetration and mobile phone usage. Network will provide DTB with advanced digital payment solutions, including a sophisticated API gateway and stringent security protocols. The partnership encompasses a variety of payment products and services, such as debit, credit, and prepaid card hosting and processing, as well as e-commerce solutions. Additionally, DTB will gain access to value-added services like card fraud prevention, 3D Secure authentication, and card control solutions.

Jamie Loden, chief operating officer at DTB, emphasised the importance of customer delight, stating, “Our partnership with Network International marks a significant milestone in our efforts to expand our capabilities and elevate our services in a rapidly evolving digital environment. It also complements our desire to facilitate the inclusion of more citizens in the formal financial system. Our collaboration with a market leader like Network International will help us satisfy the growing demand among our customer base for new and superior card and digital banking experiences that are convenient, safe, and seamless, thereby ensuring customer delight.”

Dr Reda Helal, group managing director – processing, Africa & co-head group processing at Network International, commented, “We are excited to collaborate with Diamond Trust Bank in meeting the rising interest among the emerging middle class, youth and SME market segments, especially the unbanked, for services that support a digital lifestyle and enable financial inclusion.  We welcome the opportunity to support Diamond Trust Bank’s passion for providing best-in-class digital and card customer experiences by enabling innovation and enhanced operational efficiency, as well as broaden our contributions to the success of Diamond Trust Bank’s digital product innovation and expansion.”

Zoho partners with She Code Africa to upskill African women in tech through intensive training in low-code development via the Young Creators Program. (Image source: Adobe Stock)

Zoho, a global tech firm, has partnered with She Code Africa (SCA), a non-profit dedicated to empowering and upskilling African women in tech

In this collaboration, Zoho will conduct “Train the Trainer” sessions for SCA Academy instructors, introducing them to Zoho Creator, the company's low-code app development platform. These sessions aim to provide trainers with the skills needed to effectively utilise Zoho Creator. After the training, these instructors will share their knowledge with more students involved with SCA, enabling them to create impactful applications using low-code technology to address real business challenges.

This initiative is part of Zoho Creator’s broader ‘Young Creators Program’ (YCP), which started globally in 2022. The YCP focuses on preparing future business leaders by equipping them with advanced digital skills and encouraging technological innovation. The program’s goal is to cultivate the next generation of tech-savvy leaders and innovators.

Empowering tech talent

As part of the YCP, Zoho will host 30 female trainers from the SCA Academy for an intensive three-day training session in Lagos, Nigeria. The sessions will delve into enterprise-grade application development using low-code technology. Participants will receive training materials and complimentary access to the Creator platform for one year.

“At Zoho, we believe in supporting local communities by upskilling and hiring local talent, empowering local businesses with our technology, and promoting responsible and sustainable development. Our growth strategy, known as transnational localism, embodies these values. In continuation of this commitment to support progress at the grassroots, we are partnering with She Code Africa to equip Nigerian students with critical tech skills,” said Kehinde Ogundare, country head, Zoho Nigeria.

The YCP has already empowered over 2,000 students worldwide with hands-on training in Zoho Creator, providing them with completion certificates and attractive rewards. Beyond skill development, it enhances confidence, fosters personal growth, and opens new opportunities in the tech industry. Zoho’s investment in young talents is designed to ignite creativity and innovation, making essential tools accessible to everyone, regardless of their background or resources.

“The ‘Young Creators Program’ aims to bridge the technical skill gap and support talent-building for our youth who will be the next generation of leaders and professionals. We are glad to partner with Zoho to help our trainers learn the latest advancements in low-code technology, and then pass on the knowledge to our other students,” said Maryblessing Okolie, community manager.

She Code Africa is a non-profit organisation dedicated to celebrating and empowering young girls and women in technology across Africa. Through training, workshops, scholarships, mentorship, and more, it supports a vibrant community of over 51,000 members with the ambitious goal of empowering 100,000 girls by 2030.

SEACOM celebrates its 15th anniversary, highlighting its impact on Africa's ICT and connectivity with milestones in subsea cable and fibre services. (Image source: Adobe Stock)

SEACOM, one of Africa's leading telecoms and managed services providers, celebrated its 15th anniversary today by emphasizing its impact on the continent's ICT and connectivity journey

In a statement, the company traced its origins back to July 23, 2009, when Africa's first high-capacity subsea cable went live. The 17,000-kilometre-long cable, connecting South Africa, Mozambique, Tanzania, Kenya, Djibouti, France, and India, is supported by landing stations along the Eastern and Southern African coasts, providing high-speed internet connectivity to Africa, Europe, and Asia.

Connectivity milestones

The company noted that in 2018, the SEACOM cable's capacity was increased by 1.5Tbps, bringing it up to 3Tbps to better meet Africa's growing connectivity needs. In 2011, SEACOM opened its first point of presence in Teraco Isando, Johannesburg, ushering in a new digital era in South Africa marked by lower latency and higher performance.

In 2016, SEACOM launched direct-to-business fibre services in South Africa, significantly transforming the local connectivity industry. The company stated: “With the necessary infrastructure in place, SEACOM set about defining and benchmarking the connectivity experience across key African markets. With each year, the group expanded and offered more products and services. Today, alongside offering enterprise-grade connectivity, SEACOM offers digital IT services, cloud, and cybersecurity solutions that enable African consumers and businesses.”

Alpheus Mangale, group CEO of SEACOM, commented on the milestone: “15 years ago today, Africa’s trajectory was forever changed with the introduction of fibre connectivity. In that time, the SEACOM group has evolved to become not just a leading connectivity provider, but an industry leader in the provision of IT and enterprise managed services. We owe these achievements to the hard work and commitment of all our SEACOM colleagues, and the ongoing loyalty and support of our clients, partners, and stakeholders.”

PalmPay was recognised in CNBC/Statista's "Top 250 Fintech Companies in the World" list, highlighting its role in advancing financial inclusion in Africa. (Image source: Adobe Stock)

PalmPay, a prominent Africa-focused fintech platform, has been named in the 2024 edition of CNBC and Statista’s esteemed “Top 250 Fintech Companies in the World” list

This accolade highlights PalmPay's swift growth and notable efforts in promoting financial inclusion.

Celebrating fintech excellence

The CNBC/Statista list celebrates fintech innovators who are significantly transforming the financial services sector through technology. Over 2,000 companies were assessed globally using general and sector-specific KPIs to finalise the selection. The 2024 list features some of the world's most influential fintech firms, such as Alipay, Nubank, Monzo, and Revolut. Six other African companies also made the list.

Since its inception in 2019, PalmPay has created an integrated platform serving both consumers and businesses in the African market. The startup introduced a distinctive model in Nigeria, offering financial services like money transfers, bill payments, credit services, and savings through a comprehensive fintech ‘superapp’ and mobile money agents.

This combined approach of user-friendly digital banking and offline touchpoints for those without smartphones has significantly contributed to financial inclusion in a market where over 40% of adults remain unbanked.

In 2023, PalmPay celebrated reaching 30 million registered users on its smartphone apps and connecting with 1.1 million businesses through its network of mobile money agents and retail merchants. Notably, a third of PalmPay’s customers reported that the platform was their first financial account.

PalmPay's rapid rise to market leadership in Nigeria is attributed to its intuitive interface, dependable transactions, and strategy of growing market share through fee-free transfers and promotions. The platform processes 15 million transactions daily on its consumer app, maintaining a 99.5% transaction success rate.

To achieve this scale in a market where a 10% transaction failure rate was common, PalmPay developed robust payment infrastructure, channel integrations, and transaction routing systems. Beyond its consumer wallet, PalmPay provides business services through its suite of POS machines, APIs, and checkout solutions.

"It’s an honour for PalmPay to be recognised by CNBC and Statista as one of the world’s top fintech companies," said Sofia Zab, global chief marketing officer, "This recognition validates our unique approach to financial services and our commitment to driving financial inclusion. We are actively expanding PalmPay’s reach and offerings, ensuring more people have access to essential financial services and promoting economic development in emerging markets"

PalmPay operates in several key markets across Africa, including Nigeria, Ghana and Tanzania, with plans to expand further in the region and other emerging markets. The company has global HQs in China and London.