Like most African countries, Ghana is following its digital transformation roadmap. Various projects are supporting the achievement of this goal.
Ghanaian authorities plan to launch a $5 million fund to support technological innovation in the country. This was announced by Finance Minister Mohammed Amin Adam on Tuesday, October 8, during a visit to the site hosting the digital center at the University of Ghana.
“We are also establishing a US$5million endowment fund to support the management of this hub. So, everything that’s required to make it a complete digital village in the provision of skills to the youth of Ghana will be done. […] We want to train a million youth in digital skills, and it is not a task that cannot be done,” he said.
This initiative comes as African countries increasingly require a skilled workforce to keep pace with the digital transformation that has been underway for several years. According to a study highlighted in the report "Digital Skills in Sub-Saharan Africa: Spotlight on Ghana," the International Finance Corporation estimates that around 20% of Ghanaian companies surveyed only recruit abroad for digital skills, mainly because they cannot find qualified local talent.
However, the same report estimates that $4 billion will be needed to train the local population in digital skills by 2030. In response, the government has set a goal to train 1 million young people in these skills. The construction of four digital centers is part of this effort. In addition to the University of Ghana, these centers will also be built at the Kwame Nkrumah University of Science and Technology (KNUST) in Kumasi, the University of Cape Coast (UCC), and the University for Development Studies (UDS) in Tamale.
Adoni Conrad Quenum
With more consumers and businesses relying on fintech, the potential for unauthorized or mismanaged investments rises. This underscores the need for robust regulatory frameworks to protect users and enhance market stability.
The Securities and Exchange Commission (SEC) of Nigeria has announced its plans to crack down on fraudulent activities within the country’s rapidly growing fintech sector to protect investors and maintain market integrity. Speaking at the Nigeria Fintech Week, held from October 8-10, SEC’s Director-General Emomotimi Agama emphasized the importance of safeguarding the public interest while fostering innovation within the sector.
He highlighted the potential risks that unregulated fintech operations pose, such as unauthorized data use and unverified fundraising efforts.“We cannot afford to leave this growing sector unchecked. Large amounts of investment data could be misused without consent, and companies are increasingly raising public funds without adequate regulatory control,” Agama said.
The regulatory body aims to enforce “smart regulations” tailored to the fintech landscape, aimed at curbing fund mismanagement and ensuring legal compliance across the industry. Both public and private fintech companies engaging in fundraising activities would need to comply with the SEC’s standards.
This move by Nigeria’s SEC reflects a broader trend towards increased scrutiny within the fintech sector, as regulators worldwide seek to balance technological advancement with investor protections and consumer rights. To ensure a balanced approach, the SEC plans to introduce a three-pronged strategy focused on regulatory compliance, bolstering stakeholder confidence, and validating investor protections.
Fintech fraud is a significant concern in Nigeria, underscoring the importance of the SEC’s recent regulatory measures. Wema Bank’s suspension of several fintech partners highlights Nigeria's ongoing challenges in tackling fraud within its financial system. In a similar move, Fidelity Bank imposed restrictions on fund transfers to neobanks like Kuda Bank, OPay, Moniepoint, and PalmPay in 2023, aiming to curb financial misconduct and protect customer funds. These actions underscore the financial sector's proactive efforts to tighten security and reduce the risk of illicit activities in the growing digital payments landscape.
According to the Financial Institutions Training Centre’s (FITC) Q2 2024 Fraud and Forgeries report, in Q2 2024, Nigerian banks reported losses of ₦42.6 billion (over $55 million) due to various types of fraud—a sharp increase of 637% compared to the previous year. Most of this was attributed to miscellaneous fraud types, along with withdrawals and computer/web fraud related to fintechs. To this end, banks including Wema Bank and Fidelity Bank suspended several fintech partners. This rise in fraud highlights the urgency for stricter regulations to mitigate risks associated with fintech operations and protect investors.
According to Fintech Global, Nigeria’s fintech market accounted for 42% of the total investment made in African fintech in Q3 2023, and it continues to attract significant global interest. However, with such rapid growth comes the risk of financial mismanagement and investor fraud. The SEC’s focus on "smart regulation" aims to address these issues by implementing tailored regulations that promote innovation while ensuring compliance and investor protection.
Hikmatu Bilali
The Senegalese government aims to modernize its economy by integrating information and communication technologies (ICT) across all sectors. To achieve this goal, the administration is developing a clear roadmap outlining the key steps needed to accelerate the country's digital transformation.
Senegal is preparing to adopt a new digital transformation strategy, SN 2034, dubbed the "New Deal Technologique." This strategy, built around four major pillars, was presented on Wednesday, October 9, during a workshop in Dakar to sectoral ministries and public organizations.
The first pillar focuses on establishing the necessary infrastructure to ensure technological sovereignty. This includes the creation of a sovereign cloud, developed in partnership with Google, to meet the growing needs of Senegalese and African administrations and businesses. The second pillar aims to provide affordable Internet access for all citizens, including those in remote and border areas. Discussions are underway with submarine cable and satellite connectivity providers such as Starlink and Google.
The third pillar centers on developing digital skills, with a focus on emerging technological fields such as artificial intelligence. U.S. companies Meta and Nvidia have been approached to support this goal. Finally, the fourth pillar, building on the previous one, seeks to foster a favorable environment for innovation and tech entrepreneurship. A memorandum of understanding has already been signed with U.S. firm Google to provide AI solutions and Google tools to accelerate the growth of Senegalese startups and SMEs.
The SN 2034 strategy, currently under development, will replace the SN 2025 strategy, which was implemented in 2016. It is part of the broader national transformation agenda, "Senegal 2050." Welcomed by tech companies during President Bassirou Diomaye Faye's recent visit to New York, these firms have committed to supporting the government in its implementation. This new strategy represents a major turning point for Senegal's digital future.
Samira Njoya
The International Telecommunication Union (ITU) ranks Seychelles as one of Africa's most technologically advanced nations. However, the organization stresses the need for continued advancements in cybersecurity.
On Wednesday, October 9, Seychelles approved the necessary steps to join the Budapest Convention on Cybercrime. As part of this process, it was also recommended to make minor adjustments to the country's Computer and Cybercrimes Act (CRCA) to refine definitions, improve procedural laws, and enhance international cooperation.
"The Budapest Convention is considered as the most modern convention that helps all countries to fight against Cybercrime. By being part of the Budapest Convention, it will give us access to higher levels of international cooperation, which will put us as a country on par, in line with international standards," stated Ahmed Afif, Vice President of Seychelles.
This initiative aligns Seychelles' legal framework on cybersecurity with international norms, as outlined in its National Cybersecurity Strategy 2019-2024. Through this strategy, the government aims to make the country more resilient to cyber threats, ensuring continued use of ICT to foster economic and social development.
Seychelles is the third most advanced African country in ICT development, according to the International Telecommunication Union's (ITU) Measuring Digital Development – ICT Development Index 2024, published in late June 2024. The country achieved a score of 84.7 out of 100, just 3.4 points behind the leader, Morocco. The average score across Africa (47 countries) was 50.3 points.
However, in terms of cybersecurity, Seychelles ranks in the "Evolving" category alongside 20 other African nations, according to the Global Cybersecurity Index 2024 (GCI) by the ITU, released in September 2024. The country excels in legal measures and cooperation but has notable gaps in technical, organizational, and capacity development areas.
Isaac K. Kassouwi
Like many African nations, Mauritania and Algeria have made digital technology central to their economic development. However, to successfully achieve digital transformation, these countries must bolster their cybersecurity efforts.
On Tuesday, October 8, Algeria's National Authority for the Protection of Personal Data (ANPDP) and its Mauritanian counterpart signed a partnership agreement to strengthen their cooperation through the exchange of experiences and expertise in personal data protection.
"This agreement will establish an ideal framework for cooperation in personal data protection, leading to important decisions and recommendations," stated Samir Bourehil (photo, right), president of the ANPDP.
This partnership is expected to enhance the cybersecurity of both Mauritania and Algeria, as these countries place digital transformation at the center of their economic development. The agreement comes at a time of rapid growth in digital commerce, where data flows are increasingly crossing national borders, according to the World Bank.
"Crossborder remittances or cross-border e-commerce requires consistent rules across countries to provide similar level of consumer protection. Reaching regional consensus on data protection standards is needed to ensure compatibility and avoid fragmentation," the Bretton Woods institution noted in its report Regulating Digital Data in Africa, published in May 2024.
Isaac K. Kassouwi
Developed to assist fashion designers with the daily management of their businesses, it also includes an integrated online store.
ProCouture is a digital solution developed by an Ivorian startup. The company, founded by Adama Bakayoko, aims to help tailors, particularly those in the informal sector, better manage their workshops.
"Of all the tailors we’ve worked with, only a few know how much they earn each month. It’s important to have data, indicators. [...] The software allows you to check if the business is doing well," explains Adama Bakayoko.
The solution is available on iOS and Android, with over 500 downloads according to Play Store data. Users create an account to access the platform’s various features, which include appointment reminders, customer management, cash flow tracking, production management, and supplier coordination. A key benefit is that better management of their workshops could help tailors secure financing from financial institutions.
ProCouture also integrates an online store, enabling tailors to enter the ready-to-wear market via the mobile or web app. From a computer or smartphone, they can manage this online store along with their daily customer orders. Access to the platform’s features requires a subscription, costing 3,000 FCFA (about $5).
In 2024, the startup won second prize at the Ivorian stage of the Orange Social Entrepreneur Prize for Africa and the Middle East.
Adoni Conrad Quenum
She recognizes the difficulties logistics professionals encounter in obtaining loans to fund their operations. To tackle this issue, she's harnessing technology to streamline online loan applications, making the process more accessible and efficient.
Gugulethu Siso, a Zimbabwean marketing expert and entrepreneur, is the founder and CEO of Thumeza, a fintech platform that provides data-driven financing solutions to logistics players across Africa.
Thumeza, established in 2018, initially offered last-mile delivery services for e-commerce sites, small businesses, and retailers in Bulawayo, Zimbabwe. By 2019, it had evolved into a freight platform coordinating a network of small carriers. In 2021, Thumeza shifted its focus to financing logistics operators. The platform now provides loans to small carriers through an online loan management system, offering factoring services and early invoice settlements. It handles the entire lending process for its distribution partners, such as FMCG companies and logistics aggregators, allowing them to concentrate on their core activities.
Siso is also one of the Shouthern African representatives on the Afrikan Youth Business Council, a continental organization uniting private sector entities and institutions led by young people in Africa. In 2015, she co-founded Ninety Nine Investments, serving as CEO until 2017, a company offering retailers comprehensive cart management solutions.
A graduate of the University of Namibia with a Bachelor’s in Strategic Marketing (2015), Siso also participated as a coach in the 2022 Future Females entrepreneurship training program. She is an alumna of the Tony Elumelu Entrepreneurship Program (2018) and a provincial winner of Youth Connekt (2019). In 2020, she was selected for the Academy for Women Entrepreneurs, took part in the Google for Startups Accelerator Africa cohort, and was recognized as one of the Junior Chamber International (JCI) Zimbabwe’s Ten Outstanding Young Persons.
Melchior Koba
Real-time payments meet the growing demand for speed and convenience in financial transactions. As consumer expectations evolve, having access to instant payment solutions becomes increasingly important. This not only benefits individuals but also strengthens trust and loyalty between customers and businesses
Mastercard announced on October 8 that South Africa will be the first market to benefit from its real-time card payment technology, marking a significant step forward in the region’s digital payment landscape. The initiative will enable acquiring banks to process real-time card payments, with plans to extend the service to issuing banks in the future.
Gabriel Swanepoel, Mastercard’s Southern Africa country manager, emphasized the shift towards faster, more efficient payment processing to meet evolving consumer and business expectations. He stated, “By enhancing processing standards and delivering faster clearing and settlement, we aim to support small businesses with better cash flow and enable acquirers to manage liquidity more effectively.”
The company will implement new processing standards, including real-time clearing and more frequent settlement cycles, allowing South African merchants to receive same-day payouts. This initiative follows Mastercard’s recent network enhancements in South Africa, designed to facilitate local transaction processing.
Mastercard is collaborating with ACI Worldwide to help local acquirers adopt real-time transaction standards. The partnership aims to boost liquidity and improve payment experiences for businesses and customers alike.
This rollout is part of Mastercard’s broader strategy to drive digital transformation in cash-heavy regions. The Payments Study Report 2023 by the South African Reserve bank reveals that 98% South Africans use cash for payments. It highlights the significant potential impact of Mastercard's new real-time card payment services.
This initiative could be pivotal in reducing the country’s reliance on cash by offering faster, more secure, and convenient payment options. Given that cash transactions often come with security risks and limited transparency, Mastercard’s real-time payments could accelerate digital payment adoption, promoting financial inclusion and economic efficiency.
Hikmatu Bilali
A former investment banker with a passion for technology and innovation, he transitioned into entrepreneurship, focusing on cutting-edge technologies. He founded a digital bank in his home country.
Schalk Burger (photo) is a South African accountant and entrepreneur. He is the founder and CEO of Xhuma, a digital bank designed to offer its users greater financial freedom.
Founded in 2021, Xhuma provides a range of solutions to South Africans. Through PeerPay, users can send and receive money instantly. The startup's LoyaltyHub centralizes the most attractive loyalty cards and promotional offers while ensuring the security of transactional accounts.
Xhuma also offers SpendSense, which helps users manage their expenses responsibly. With GroupPay, bills can be shared among friends and family. Group Vaults, meanwhile, allows for the management of contributions, savings, withdrawals, and payments without administrative hassle or extra fees. Finally, TravelGenius makes booking flights, accommodations, excursions, and airport shuttles easier for South Africans.
In addition to Xhuma, Burger is also the founder and CEO of Xhuma Talent, an AI-powered platform launched in 2020 to connect talent with corporate job opportunities. Back in 2010, he founded Clothing4children, a charitable initiative focused on collecting clothing donations. In 2014, he co-founded the Samaritan Fund, an organization aimed at addressing South Africa's growing social needs, where he served as director until 2021.
The entrepreneur holds a bachelor’s degree in accounting and law from Stellenbosch University, which he earned in 2017, the same year he obtained a bachelor’s in accounting from the University of Johannesburg. In 2018, he joined Investec, a financial management firm, as an internal auditor.
In 2020, Burger received multiple accolades. Notably, he was a finalist for the CEO of the Year award at Africa Tech Week and the Entrepreneur of the Year award at Startup School Africa. He also won the AppsAfrica award in the Edtech category and was a global finalist for the Global Edtech Startup Awards.
Melchior Koba
The development of e-health in Africa is expected to facilitate access to healthcare for millions of people, even in remote areas. Although the continent lags behind, it is making every effort to bridge this technological gap and improve its healthcare systems.
Togo recently launched the construction of a National Center for Digital Health (CNSD) in its capital; Lomé. Funded by the United Nations Development Programme (UNDP), this initiative aims to improve healthcare accessibility through the use of new technologies.
"The National Center for Digital Health will oversee the operational governance of digital health activities by establishing key elements such as interoperability and project compliance, as well as gathering health data to support epidemiological surveillance," said Aristide Afèignindou Gnassingbé, Minister Health Advisor, Permanent Mission of Togo to the UN in Geneva, and National Coordinator for Digital Health in Togo.
The CNSD launch aligns with the Togo Digital 2025 national strategy. This project, announced in the wake of the Covid-19 pandemic, highlights the importance of integrating ICT into the healthcare sector. Among the planned innovations is telemedicine, a crucial branch of digital health that has become an essential tool. It will facilitate teleconsultation, tele-expertise, remote monitoring, and tele-ultrasound services.
The center is also expected to serve as a platform for developing digital health solutions, strengthening the country’s ability to respond to health crises through automated surveillance systems and optimized management of medical resources. Additionally, it will accelerate the digitization of healthcare infrastructure nationwide, particularly by incorporating electronic medical records and promoting the training of healthcare professionals in new technologies.
Samira Njoya
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Last September, Morocco launched its "Digital Morocco 2030" program. Since then, various initiatives have been implemented to achieve the goals outlined in the strategy document.
On Monday, October 7, Hassan II University of Casablanca signed agreements with several tech companies. The goal is to offer students training programs tailored to meet the new demands of the job market in the technology sector.
According to Fatima Zahra Alami (photo, left), the university’s vice president in charge of academic affairs, the partnership aims to provide students with digital skills to complement their academic education. This initiative seeks to align their training with the growing demands of the labor market, where digital transformation plays an increasingly important role.
The initiative is part of the National Plan for Accelerating the Transformation of Higher Education, Scientific Research, and Innovation, launched in February 2022. It aligns with Digital Morocco 2030, which aims to train 20,000 tech professionals by 2026 and 45,000 by 2030. The plan also envisions upskilling around 50,000 individuals for digital careers by 2030.
In this context, boosting the capacity of educational institutions to train more digital talent and scaling up various retraining mechanisms—such as bootcamps, coding schools, and certification programs—are among the key measures taken by Moroccan authorities.
The agreement’s signatories include American tech companies Oracle, Cisco, DXC, and Fortinet, as well as China's Huawei and Moroccan firm NearSecure.
Adoni Conrad Quenum
Establishing data centers enhances Africa’s digital infrastructure. This benefits industries that rely on secure, localized data storage and supports the continent's broader digital economy transformation.
Huawei Technologies has announced its plan to establish a data center in Nigeria to address local data storage needs. This announcement was made by David Olaiya, Huawei Nigeria's Head of Cloud Fintech Business Development, during Nigeria Fintech Week in Lagos, which is taking place from October 8 to 10.
Olaiya revealed that the facility, set to launch on October 31, will enhance data sovereignty and reduce latency for Nigerian businesses. “Huawei’s data centre will allow businesses to keep their data resident in Nigeria; a significant advantage for fintech companies that require stringent adherence to data protection laws,” he said.
The center, ‘Cloud Site,’ will provide dedicated local support and connect to Huawei’s global cloud infrastructure. It will serve as an extension of its existing cloud infrastructure in Johannesburg, South Africa, and will be linked to its data center in Dublin, Ireland.
Establishing the data center signifies an important step forward for the country's digital landscape, offering numerous benefits that align with Nigeria's broader digital transformation goals. This infrastructure is set to support local industries by providing secure, localized data storage, which is crucial for compliance with Nigeria's data protection laws. Additionally, it will help to reduce latency and improve the reliability of digital services - a key factor in enabling industries like fintech, which demand stringent data protection and high-speed connectivity.
Hikmatu Bilali
In the DRC, the telecommunication sector is undergoing significant modernization. To ensure its overall development, the country can rely on strategic partners such as the World Bank, which plays a key role in supporting this transformation.
The International Finance Corporation (IFC) will support the telecommunication sector in the Democratic Republic of Congo (DRC). The decision was announced during a meeting on Tuesday, September 8, between the Minister of Posts, Telecommunications, and Digitalization, Augustin Kibassa Maliba (photo, left), and Mary Porter Peschka (photo, right), IFC’s Regional Director for East Africa.
“We discussed the willingness [of] the International Finance Corporation to support the Congolese government in the development of the telecommunications sector. The telecommunications sector is of paramount importance, both for the DRC and for our group,” said Mary Porter Peschka.
This initiative is part of the DRC's National Digital Plan (Horizon 2025) which makes telecommunications a key sector. The country is already seeing positive effects from this momentum, with mobile phone subscribers increasing by 6.4 million, from 49.8 million in 2022 to 56.2 million in December 2023, according to the Congolese Postal and Telecommunications Regulatory Authority. Meanwhile, mobile market revenues in the DRC reached 11.898 billion CFA francs ($19.9 million) in July 2023, a 9.7% increase compared to the previous year.
The IFC’s support in the DRC will focus on several strategic areas, including strengthening digital skills and developing and modernizing digital infrastructure, among others. The overarching goal is to create a favorable environment for innovation and investment by attracting new private sector players while boosting the competitiveness of local businesses.
Samira Njoya
In the first half of 2024, Moroccan startups attracted $14 million in funding, according to Africa: The Big Deal. The government has also committed to supporting these startups through its national digital strategy.
Moroccan Digital Minister Ghita Mezzour (photo) recently announced a 240 million dirhams (approximately $24.5 million) investment to boost innovation and support local startups. Announced, on October 8th, at the opening of the 6th edition of the African Digital Summit, the investment aims to boost demand for innovative services.
“We have allocated a budget of 240 million dirhams to stimulate domestic demand for innovative services, prioritizing purchases from local startups and giving them access to outsourcing opportunities, so they can export their solutions beyond our borders,” Mezzour stated.
This initiative comes at a time when African startups are increasingly struggling to attract capital. It is part of the "Digital Morocco 2030" strategy, which aims to boost the local tech ecosystem. According to data from Partech Africa, Moroccan startups secured $33 million in 2021, $26 million in 2022, and $93 million in 2023.
State support is expected to strengthen the country’s tech entrepreneurial fabric, stimulate job creation, attract foreign investors, and further solidify Morocco’s position as a regional tech hub.
Adoni Conrad Quenum