Connect with us

Tech

Nigerian fintech Aella transforms into Microfinance Bank

Published

on

Nigeria’s fintech, Aella, which provides credit and financial solutions to its clients, has announced its transformation to a full-fledged micro finance bank with its official name changed to “Aella Microfinance Bank”.

According to its founder and CEO, Akin Jones, the transformation is a “strategic move in line with Aella’s commitment to innovation and delivering inclusive financial services to the average Nigerian.”

Jones stated in a statement that the startup which came on board in 2015, was founded to “simplify and open up financial services to support financial inclusion in emerging markets, beginning life underwriting loans with a proprietary algorithm.”

“This transition to Aella MFB is proof of our dedication to innovation and constant reinvention. And this is more than just a name change. Our users will now have access to better banking experiences,” he said.

“The transition to becoming Aella MFB guarantees extra safety for our users’ money.

“We now have stricter measures in place to control fraudulent activities. We are very particular about earning the trust of our users and keeping their money safe is the only way we can do that.”

The Managing Director of Aella Microfinance Bank, Sosthenes Oluwaseun, who also spoke on the transition, said the “rebranding was an important decision, especially in today’s economic climate.”

Oluwaseun noted that the startup which currently boasts of over two million users in Nigeria, is backed by US venture funds such as Y Combinator, 500 Global, Zeno Ventures, and Gluwa Capital, among others.

Tech

MTN Foundation announces 2024 scholarship for Nigerian students

Published

on

MTN Nigeria Foundation has announced its 2024 scholarship for Nigerian students to support their education and empower the next generation of leaders.

A statement by the Foundation states that the amount for the annual award has also been increased from N200,000 to N300,000 for eligible students.

“The scholarships are in three categories which include the MTN Science and Technology Scholarship (MTN STS), the MTN Scholarship for Blind Students (MTN SBS), and the Top 10 UTME Scholarship,” the statement said.

“MTN Foundation in 2010, established the MTN Scholarships Program, an annual award that recognizes and rewards eligible high-performing students in Nigerian Public Tertiary Institutions in 3 categories:

MTN Scholarship for Blind Students (MTN SBS) since 2012 has been targeted at eligible 200 and 300-level blind students studying any course in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“Starting in 2024, the number of blind students to receive scholarships has increased from 60 to 100. The annual award amount also increased from N200,000 to N300,000 and will be awarded until graduation if grade requirements are met.

“Top 10 UTME Scholarship since 2020, the top 10 scoring candidates of UTME as announced by JAMB, automatically qualify for the top 10 UTME scholarship.

“The candidates are awarded scholarships from their 100 level through to graduation upon meeting grade requirements.

“The Top 10 UTME Scholarship is awarded irrespective of the successful candidates’ preferred course of study or Tertiary Institution – Public or Private in Nigeria.”

According to the statement, the MTN Science and Technology Scholarship is open to 300-level students studying Science and Technology-related courses in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“The MTN Scholarship for Blind Students is open to 200 and 300-level blind students studying any course in Nigerian Public Tertiary Institutions (Universities, Polytechnics, and Colleges of Education).

“STEM Students in Public Universities and Colleges of Education must have a minimum Cumulative Grade Point Average (CGPA) score of 3.0/4 or 3.5/5 (second class upper credit).

“STEM Students in Public Polytechnics must have a minimum Cumulative Grade Point Average (CGPA) of 3.0 (upper credit) from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) Program.

“Direct Entry level STEM students must have a minimum CGPA of 3.0 (upper credit) from the Ordinary National Diploma (OND) program and must have secured admission into 300 level/3rd year in a Public University.

“MTN Scholarship for Blind Students (SBS): Blind Students in the Universities or Colleges of Education must have a minimum Cumulative Grade Point Average (CGPA) of 2.5.

“Blind students in public Polytechnics must have a minimum Cumulative Grade Point Average (CGPA) of 2.0 from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) program,” the statement added.

Continue Reading

Tech

American risk management solutions provider Archer opens business in Egypt

Published

on

American risk management solutions provider, Archer, has announced expanding its operations to Africa with Egypt as the first point of call.

While opening the Archer Integrated Risk Management (IRM) office in New Cairo, Egyptian Minister of Communications and Information Technology Amr Talaat, said the company couldn’t have chosen a more appropriate location for its business than the North African country.

The opening ceremony witnessed the presence of key dignitaries including Ahmed Elzaher, CEO of the Information Technology Industry Development Agency (ITIDA), Sarah Kahler, Senior Director of Business Operations at Archer IRM and a member of the company’s Executive Leadership Team, Matt Tinsley, Senior Director of Global Services at Archer IRM, Rasha El Kaliouby, Director and General Manager at Archer IRM in Egypt, alongside officials from the Ministry of Communications and Information Technology (MCIT), Archer in the United States (US), and various markets.

The Minister said the inauguration of the Archer IRM office at Cairo Festival City Business Park aligns with the company’s expansion strategy to bolster its presence in the Egyptian market.

Archer had last year, earmarked Cairo as the location for Archer’s first office in the Middle East.

The company said it aims to expand its operations from its Egyptian base into other countries in the continent and currently, the office boasts a team of over 140 talented employees specializing in engineering, research and development (R&D), technical support, sales, pre-sales, marketing, and customer services in more than nine languages, among other professional services.

In his remarks, the Egyptian ICT Minister emphasized that the efficiency and ability of Egyptian youth to harness technology contributed to making the ICT sector the fastest-growing state sector nationwide for five years in a row and an attractive destination for investments by ICT multinationals.

He underlined that Archer IRM office opening and planning to expand its operations in Egypt come as part of the efforts to develop Egypt’s capabilities in the outsourcing industry and attract multinationals to establish their outsourcing centers, run by Egyptian youth specializing in various ICT disciplines.

Continue Reading

EDITOR’S PICK

Sports9 hours ago

Moroccan steeplechase star El Bakkali aims for gold at Paris Olympics

Morocco’s steeplechase champion, Soufiane El Bakkali, says he is aiming for the gold medal at the upcoming Paris Olympics after...

Tech9 hours ago

MTN Foundation announces 2024 scholarship for Nigerian students

MTN Nigeria Foundation has announced its 2024 scholarship for Nigerian students to support their education and empower the next generation...

Culture9 hours ago

One-year-old Ghanaian breaks GWR as world’s youngest artist

A one-year-old Ghanaian, Ace Liam, has broken a Guinness World Record as the youngest male artist. The infant’s groundbreaking achievement...

Metro14 hours ago

Introduction of taxation on online political content aligns with international practices, says UPND media director

The introduction of taxation on online political content aligns with international standard practices used by governments to broaden their tax...

Metro15 hours ago

UK to deport physically-challenged Nigerian after 38 years

The United Kingdom has threatened to deport a physically-challenged Nigerian, Anthony Olubunmi George, after living in the country for over...

Musings From Abroad17 hours ago

Nigeria’s Air Peace accused of safety violation by UK regulator

Nigeria’s Civil Aviation Authority has received a letter from the United Kingdom Civil Aviation Authority claiming that Nigerian carrier, Air...

Culture1 day ago

How South Sudanese singer John Frog moved from child soldier to Afrobeats star

John Frog may be one of South Sudan’s most successful musicians at the moment, but a little over 10 years...

Tech1 day ago

American risk management solutions provider Archer opens business in Egypt

American risk management solutions provider, Archer, has announced expanding its operations to Africa with Egypt as the first point of...

Sports1 day ago

South African Akani Simbine beats Omanyala to pick 100m gold at Atlanta City Games

South African sprint sensation, Akani Simbine, on Saturday at the Atlanta City Games further put a dent on Kenyan 100m...

Metro2 days ago

Church in Northern Province cautions against cyberspace abuse, supports cyber security law

The church in Northern Province has issued a warning to Zambians regarding the misuse of cyberspace in the guise of...

Trending