Electronic payment transactions in Nigeria soared to an unprecedented N1.07 quadrillion in 2024, marking the first time the country’s digital payment ecosystem crossed the quadrillion threshold. This milestone, equivalent to $702.6 billion based on the closing exchange rate of N1,535/$1 on December 31, 2024, represents a significant leap in the adoption of cashless payment solutions….
In the past week, Chinese AI startup DeepSeek has sent ripples through the artificial intelligence world, challenging industry giants like OpenAI with its groundbreaking open-source AI model. With only $6 million in funding, DeepSeek has managed to outperform established players in critical areas such as math and reasoning benchmarks, making its rise nothing short of…
The rapid global rise of Chinese AI startup DeepSeek has caught the attention of industry leaders, including OpenAI CEO Sam Altman, who welcomed the competition with optimism. In a post on his X (formerly Twitter) account, Altman praised DeepSeek for its ability to deliver high-quality AI models at a significantly lower cost. Altman’s Take on DeepSeek Acknowledging the…
The artificial intelligence (AI) industry has long been dominated by a handful of tech giants and specialized hardware manufacturers, with Nvidia standing tall as the undisputed leader in AI-accelerated computing. However, the recent arrival of DeepSeek, a groundbreaking AI startup, has sent shockwaves through the industry, disrupting the status quo and causing Nvidia’s shares to…
Moniepoint, Nigeria’s leading fintech unicorn, has secured a strategic investment from global payments giant Visa. This development comes just three months after Moniepoint’s remarkable $110 million Series C funding round, which tripled the company’s valuation, cementing its status as a billion-dollar enterprise. The investment underscores growing confidence in Moniepoint, widely regarded as a trailblazer with…
Since its launch in 2016, TikTok has become a global phenomenon, captivating millions with its short-form video content. Behind its meteoric rise is Shou Zi Chew, the enigmatic CEO who has steered the platform through unprecedented growth and significant challenges. Chew, a Singaporean executive with a background in finance, took over as CEO of TikTok…
Every winter, West Africa, particularly Nigeria’s bustling city of Lagos, transforms into a hub of endless parties, vibrant nightlife, and cultural festivities. Known as Detty December, this magical season from December to early January attracts tourists and diaspora communities to Nigeria, Ghana, and South Africa for a whirlwind of sunshine, African music, and flavorful food. The…
In a groundbreaking move aimed at revolutionising digital payments in Nigeria, Interswitch, Africa’s leading integrated payments and digital commerce company, has unveiled its latest offering: Google Pay integration into its payment gateway. This strategic collaboration harnesses the extensive merchant network of Interswitch and the user-friendly efficiency of Google Pay’s digital wallet platform. Google Pay is…