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Alibaba Acquisition Values Meal-deliverer Ele.me at $9.5 bn

Chinese e-commerce giant Alibaba said Monday it was acquiring full ownership of leading food-delivery firm Ele.me in a deal that values the Shanghai-based start-up at $9.5 billion. The deal is the latest salvo in the intensifying turf battle between tech heavyweights Alibaba and Tencent in the fast-growing Chinese markets for online food ordering and digital payments. Alibaba and its financial arm Ant already owned 43 percent of the app-based Ele.me and said in a statement that it would acquire all remaining shares. It said the takeover puts Ele.me’s value at $9.5 billion. Alibaba did not say how much it was paying for the...

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FinTech Stakeholders Urge Banks to Improve PoS Capacity

Stakeholders in financial technology have urged banks to enlighten their customers on the enormous capabilities of Point of Sale (PoS) terminal in the quest to make agent banking network viable.They spoke at the third quarterly PoS Innovative Summit held in Lagos organized by Global Accelerex , with the theme: Deepening Financial Inclusion Through Agency Banking. According to them PoS has an important role in Central Bank of Nigeria (CBN) financial inclusion policy.Emmanual Agha, managing director, Innovectives LLC, who delivered keynote at the event, said that PoS device is like a mini bank where bank customers can do everything they can do...

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PFS Selects Gartner as Global Advisor, Embraces International Markets

To realize its objective of capturing the international software markets in Europe and the USA, management of Precise Financial Systems [PFS] announced today that it has engaged the services of Gartner Consulting as its global advisor, which would lead the company to fulfill its globalization schema. The engagement which would be for two years empowers Gartner to review PFS software solutions including its flagship Clirec and iTeller in order to recognize the possible international markets where the products would be most needed and advise on appropriate market approach. A statement signed by Dr. Yele Okeremi, MD/CEO of the company, informed that as...

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Nigeria’s Future Brighter with ICT

Although Nigeria serves as a key business hub which thrives in and attracts foreign trade to the African continent, it falls in the category of developing nations still lagging behind in its ICT development on a global scale. As at 2017, according to the International Telecommunication Union (ITU), Nigeria ranks 143 on the 2017 global ranking for ICT Development Index (IDI). As a result, more forums and conferences are rising to advocate the importance of ICT development to the Nigerian economy, its youths and entrepreneurship. Huawei Technologies Nigeria, in its contribution to this movement, recently brought together thought leaders and top...

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Operator Brings 10,000 wi-fi Hotspots to Lagos for Broadband

Facilities based telecommunications firm, Swift Networks, will bring 10, 000 wi-fi hotspots to Lagos between now and the next six months. To achieve this, Swift Network will partner with leading global brands to offer the service, which is going to be free, at designated places in the state. With 500 hotspots already activated, the Chief Executive Officer (CEO), Swift Network, Charles Anudu, on Monday, in Lagos, told journalists that the service, which is termed Red Cheetah, was a new brand under the networks, and will be supported by advertising revenues from leading global brands and partners. Anudu, who said the service was...

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SMART CITY: NCC Committed to Improving Telecoms and ICT Facilities in Edo

The Nigerian Communications Commission, NCC and the Edo state Government have concluded plans to improve access to telecoms infrastructure in the state. The plan is aimed at giving Edo state citizens world class telecoms and ICT facilities. This commitment was made during a meeting between the Executive Governor of Edo State, Mr. Godwin Obaseki and the NCC, led by the Commission’s Executive Commissioner for Stakeholder Management, Mr. Sunday Dare. In his welcome remarks at the meeting, which was held at the NCC headquarters on Wednesday, March 21, 2018, Mr. Dare commended the forward-looking policies of the Governor and assured him of...

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Nigerian Scientist Invents ‘Mobile Intercom’

A Nigerian scientist, Engr. Michael Friday, has come up with an invention aimed at relieving subscribers of telecommunications services of the need to buy recharge cards. Michael, who met the Director General, National Office for Technology Acquisition and Promotion (NOTAP), Engr. Danazumi Ibrahim, in Abuja, expressed readiness to patent his invention tagged, ‘Mobile Intercom.’ He explained that the quest to free the country from over-dependence on expensive imported telecom services informed the idea. He said: “The source of Internet we depend on is in foreign hands. Even our telecommunications companies depend on them. If you want to manufacture a mobile phone, until you...

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Google LaunchPad Accelerator Africa kicks off in Lagos

Google today announced the startups who will participate in the first Google Launchpad Accelerator Africa class, at an event held in Lagos. It also announced a partnership with Udacity and Andela to provide 15,000 single course scholarships and 500 nano degree scholarships to aspiring and professional developers across Nigeria, Kenya, and South Africa. According to Juliet Ehimuan, Country Director of Google Nigeria: “Launchpad Accelerator Africa was announced at Google for Nigeria in July last year. At the time we also announced the extension of our Digital Skills for Africa program to train 10 million Africans, including 100,000 developers, over five years. The scholarships...

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Cyber Crimes Threaten Nigeria’s Vision 20:2020 Project

Nigeria’s dream of becoming one of the world’s first 20 economies by 2020 may be doomed if cyber security was not put in place to contain increasing cyber crimes in the country.It was learnt that the Nigerian space has not only become more porous, but the country also loses 0.08 per cent of its Gross Domestic Product (GDP) or N127 billion yearly to cybercrimes. Experts who gathered at a Breakfast Forum on Cyber Security in Nigeria, organised by the United States (U.S.) Commercial Service and McAfee Incorporated, stated this yesterday in Lagos.They argued that year 2016 took cyber attacks to an...

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NCC Seeks Release of 60Ghz Frequency Spectrum for Broadband Deployment

The Nigerian Communications Commission (NCC) has disclosed plans to seek broadband deployment in the telecommunication sector.In this regard, it is pursuing the release of a 60-gigahertz (Ghz) spectrum band from the National Frequency Management Commission (NFMC) for operators in the sector.The release of the spectrum is expected to among other things, help the commission to address the growing demands by operators. The NCC Director of Spectrum Administration, Austine Nwaulune, explained: “Though, the licence is not yet being utilised in Nigeria, as it is the case in United Kingdom, Canada, and the United States of America, we are pushing...

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