By Businessday

Stakeholders in Nigeria’s fintech ecosystem have underscored the urgent need for deeper payment integrations to drive financial inclusion and cross-border transactions. This call to action was made at the Nigerian Fintech Week, a premier industry event attended by government officials, fintech leaders, and corporate executives, known for fostering discussions that shape the future of financial technology in Africa and beyond.

Speakers at the event included Aminu Maida, CEO, Nigerian Communications Commission; Wayne Eyong, PalmPay; Mike Odusami, Maxut Consulting; DeRemi Atanda, Managing Director, Remita; Jimoh Ehi Okoh, Solutions Architect, Huawei; and Ugochukwu Onwuta, Senior Product Manager, AZA Finance. As a leading voice in payment technology, Onwuta emphasised the growing need for seamless cross-border payment solutions, highlighting their critical role in global trade.

“Cross-border payments are the lifeblood of international commerce,” Onwuta stated during his address. “The industry is ripe for disruption due to evolving customer expectations, rapid technological advancements, and the push for greater financial inclusion.”

He stressed that financial institutions must prioritise interoperability, ensuring payment systems across different jurisdictions can communicate effectively. “For digital payments to be more reliable and hassle-free, we must move beyond siloed systems and focus on improving existing integrations,” he added.

The Case for Interaction and Collaboration.

During his speech, Onwuta discussed the urgent need for collaboration across payment infrastructures, reinforcing key themes from his recent publications. He advocated for the adoption of unified compliance frameworks to streamline regulatory requirements and enable smoother, more efficient transactions across borders.

His insights resonated with industry professionals, regulators, and technology experts in attendance, all of whom engaged in discussions on regulatory challenges, fintech innovation, and the evolution of digital payments.

“The future of payments will be shaped by collaboration,” Onwuta noted. “New market entrants will challenge incumbents to innovate, fostering a more dynamic and inclusive financial ecosystem.”

Shaping the Future of Fintech

The 7th Nigerian Fintech Week which was held in October 2024 explored strategies for harnessing generative AI, fostering economic inclusion, and shifting from revenue-driven models to sustainable, profitability-focused fintech businesses through smart regulation and innovation.

Onwuta closed his session with a forward-looking statement:

“Achieving true collaboration requires collective commitment from all stakeholders. Only by working together can we build a truly inclusive, efficient, and resilient global financial system—one that serves individuals, businesses, and entire economies alike.”

His thought leadership at the event reinforced his reputation as an influential figure in the fintech space, further cementing his role in shaping the future of global payment technologies.

By investopedia

U.S. stock futures fell sharply on Sunday evening as the Trump administration showed no signs of backing off from a wide-ranging plan to impose tariffs.

Futures tied to the Dow Jones Industrial Average were recently down 2.2%, pointing to a decline of more than 800 points at Monday's open, while futures linked to the S&P 500 and Nasdaq fell 2.7% and 3.4%, respectively. Dow futures had been down more than 1,600 points at one point Sunday evening,

The major indexes are coming off their worst week since the early days of the Covid pandemic in March 2020, after stocks plunged on Thursday and Friday following President Trump's announcement of sweeping tariffs on U.S. trading partners. The benchmark S&P 500 declined 10.5% over the last two days of the week, while the Dow shed nearly 4,000 points.

White House officials provided no indication over the weekend that the president would consider scaling back on the tariffs. The so-called reciprocal tariffs that Trump announced on Wednesday— which include new levies of 20% on imports from the European Union, 26% on Japanese imports, and 34% on imports from China—are due to take effect on Wednesday.

The Trump administration, which has also indicated more sector-specific tariffs are coming, says the measures are needed to restore competitive balance and bring manufacturing and jobs back to the U.S. However, the speed and depth of the policies announced in recent weeks—and the prospect that countries will retaliate, as China did on Friday—have heightened concerns among economists and investors that the economy could slide into a recession.

Speaking Friday, Federal Reserve Chair Jerome Powell said that the tariffs announced last week were higher than expected and raise the risks both of inflation rising and economic growth slowing. Powell said the Fed is awaiting greater clarity on the impact of Trump's policies before considering adjustments to interest rates.

Asian stocks also tumbled to kick off their week amid fears of the consequences of a trade war, with Hong Kong's Hang Seng index down 9%, while Japan's Nikkei 225 dropped 6% and South Korea's Kospi index and Australia's S&P ASX 200 each fell more than 4%.

Bitcoin was also down sharply Sunday, tracking the move lower in equities as investors abandon risky assets. The digital currency was at $78,700 recently, down from an earlier high on Sunday of nearly $84,000 and trading at its lowest levels since early November.

Crude oil prices also retreated amid the growing concerns about slowing global demand. West Texas Intermediate futures, the U.S. crude oil benchmark, fell 2.6% to $60.40 per barrel, after falling as low as $59.38, their lowest level since last April.

By Forexlive

It was tough to tie the fundamentals to the market moves on 30/08/2024 , as is often the case at month end. Tokyo CPI was hot earlier and US PCE was a tad cool and normally that's the recipe for a USD/JPY decline but it was just the opposite as the pair climbed 116 pips in a steady rally that started in Europe and never eased.

That was part of broad bids in the US dollar that were supported somewhat by rising Treasury yields. However the 30 pip decline in the Australian dollar certainly went against the rip in equities.

The Canadian dollar was particularly volatile and rallied initially on a strong GDP number. However the details of that report showed no growth in June and July plus the vast majority of the growth in the quarter was driven by government spending. That led to a rethink, particularly following the drop in oil prices. All told, there were four 30-pip straight line moves in USD/CAD trading to round out a lively month. That will give North Americans plenty to digest over the long weekend.

The euro finishes the month above 1.10, which is a nice victory but a cent-and-a-half from Monday's high of 1.1201. It declined in four of the five days this week in a setback after three weeks of strong gains. Similarly, cable fell for the third consecutive day and showed few signs of life in month end trade.

On net, the US dollar rebound balances the market heading into what's going to be a lively September.

By Investing.com

U.K. equities were higher at the close on Friday, as gains in the Mining, Industrial Metals And Mining and Pharmaceuticals And Biotech sectors propelled shares higher. At the close in London, the Investing.com United Kingdom 100 rose 0.45% to hit a new 3-month high.

The biggest gainers of the session on the Investing.com United Kingdom 100 were DCC plc (LON:DCC), which rose 2.29% or 104.00 points to trade at 4,641.00 at the close. Flutter Entertainment PLC (LON:FLTRF) added 2.23% or 325.00 points to end at 14,930.00 and Burberry Group PLC (LON:BRBY) was up 2.18% or 46.00 points to 2,158.00 in late trade.

Biggest losers included Hikma Pharmaceuticals PLC (LON:HIK), which lost 1.53% or 32.00 points to trade at 2,063.00 in late trade. BT Group PLC (LON:BT) declined 1.47% or 1.75 points to end at 117.00 and Segro Plc (LON:SGRO) shed 1.36% or 10.20 points to 739.20.

Advancing stocks outnumbered falling ones by 890 to 761 and 462 ended unchanged on the London Stock Exchange.

In commodities trading, Gold Futures for December delivery was up 0.74% or 14.35 to $1,947.15 a troy ounce. Meanwhile, Crude oil for delivery in October rose 0.51% or 0.46 to hit $90.62 a barrel, while the November Brent oil contract rose 0.03% or 0.03 to trade at $93.73 a barrel.

GBP/USD was unchanged 0.10% to 1.24, while EUR/GBP unchanged 0.38% to 0.86.

The US Dollar Index Futures was down 0.17% at 104.87.

Sahil Adeem

By Theprint.in

An argument on Pakistani television has taken the country by storm. Motivational speaker and internet personality Sahil Adeem and screenwriter Khalil–ur–Rehman Qamar have found themselves in hot water after referring to 95 per cent of Pakistani women as “jahil”—

"Jahil" is an Arabic-origin word that is commonly used in several South Asian languages, including Urdu, Hindi, and Bengali. The term is often used pejoratively to describe someone who is not only illiterate but also ignorant or lacking in knowledge and understanding. It implies a lack of education and awareness and can be a strong criticism of someone's intellectual or social behavior. The word has a broader cultural significance as well, sometimes being used to denote a person who is considered backward or uncivilized.

In an ‘open discussion’ on Samaa TV with Ayesha Jehanzeb, a member of the audience, Azba asked the two men to apologise for calling women “jahil” pointing out that “it is a male-dominated society that forces women to stay illiterate”.

“A man sitting here has no right to decide that women are illiterate and discuss their percentages,” she argued.

 A snippet of an argument between the two has been going around on the internet where users are calling out Adeem’s misogyny and even going to the extent of seeking a ban on him being on TV.

“Instead of boycotting Western brands and outlets, it’s these two misogynists who should be permanently banned and boycotted from all platforms

In the context of the word "jahil," it is important to understand the nuances it carries in different languages and cultural settings. Here is a more detailed explanation:

1.      Literal Meaning: The word "jahil" literally translates to "illiterate" in English. This implies a lack of formal education or the inability to read and write.

2.    Extended Meaning: Beyond its literal sense, "jahil" is often used to describe someone who is ignorant or uninformed. This usage highlights a broader deficiency in knowledge, awareness, or understanding, extending beyond just formal education.

3.    Cultural Connotation: In many South Asian cultures, "jahil" carries a strong negative connotation. It is used pejoratively to criticize someone's behavior or attitudes that are seen as backward, uncivilized, or lacking in refinement. This can include a lack of social etiquette, outdated beliefs, or refusal to adapt to modern norms and knowledge.

4.    Examples of Usage:

o    Interpersonal Criticism: When someone makes a statement or behaves in a way that is seen as particularly uninformed or foolish, they might be called "jahil" as a rebuke. For example, "He's so jahil, he doesn't even know basic history."

o    Social Commentary: The term can be used in social or political commentary to describe groups or individuals perceived as resistant to progress or education. For example, "The policies are designed to educate and uplift the jahil population in rural areas."

Understanding "jahil" in this context helps to grasp not only its meaning but also the social and cultural weight it carries when used in conversation or writing.

Republic of Benin

By Aljazeera

At least 35 people, including a child, killed after a blaze engulfs an illegal fuel depot along Benin’s border with Nigeria, officials and residents say. At least 35 people have been killed in Benin after a fuel depot exploded into flames, sending a black cloud of smoke into the sky, according to officials and witnesses.

The fire broke out on Saturday at a warehouse for smuggled fuel in the town of Seme-Podji near the border with Nigeria, where cars, motorbikes and tricycle taxis came to stock up on fuel, residents said.

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By Nwaorgu F austinus

Representatives of the Dubai Department of Economy and Tourism (DET) are currently in Uganda. During the visit, DET is training 100 Ugandan travel agents, will meet with top agents in the travel industry and partake in the 23rd TUGATA AGM.

Training sessions for travel agents held on the 25th of April 2022 in Kampala, Uganda and had 100 shortlisted agents trained on boosting their business and the benefits of Dubai travel.

The Uganda Association of Travel Agents (TUGATA) is also set to hold its 23rd Annual General Meeting (AGM). The event which is slated to hold on the 26th of April 2022 in Kampala, Uganda; will have in attendance, over 100 of the top Ugandan travel agents. Dubai Department of Economy and Tourism (DET) will be part of this event as the Lead Sponsor for a second year.

Tareq Binbrek, Assistant Manager, International Operations (Africa) for Dubai’s Department of Economy and Tourism, Lead Sponsors of the TUGATA AGM,said: “We are very happy to be part of these events in Uganda and we are excited to meet many travel agents there. Africa overall, and Uganda in particular, are a key source market for Dubai. Before the pandemic started, we saw a steady and impressive growth in tourism numbers from the region. We are confident that we can achieve this again in the near future and this event is our kick-off for further events in the next weeks and months.”

The Uganda Association of Travel Agents, (TUGATA) TUGATA was registered in May 1999 with 5 founder members. Today they are over 100 registered members of the Association, which reflects how mature the Travel Industry has grown. The Association further established a Secretariat in 2006 to better coordinate its activities. Today, TUGATA has a fully-fledged Secretariat manned by permanent staff.

TUGATA’s membership incorporates both IATA and non-IATA members, who have full voting rights and equally participate on all functions of the association, without discrimination. TUGATA is a member of International professional bodies: United Federation of Travel Agents Association (UFTAA), Federation of Eastern and Southern African Travel Agents Association (FESATA), APJC (Agency Programme Joint Council), and work very closely with our affiliates in Tanzania (TASOTA) and Kenya (KATA).

About The Dubai Department of Economy and Tourism (DET)

With the ultimate vision of positioning Dubai as the world’s leading tourism destination and commercial hub, Dubai’s Department of Economy and Tourism’s mission is to increase the awareness of Dubai among global audiences and to attract tourists and inward investment into the emirate.

Dubai’s Department of Economy and Tourism (DET), formally known as Dubai’s Department of Tourism and Commerce Marketing (DTCM) is the principal authority for the planning, supervision, development, and marketing of Dubai’s tourism sector.

It markets and promotes the Emirate’s commerce sector and is responsible for the licensing and classification of all tourism services, including hotels, tour operators and travel agents. Brands and departments within the Dubai Tourism portfolio include Dubai Business Events, Dubai Calendar, and Dubai Festivals and Retail Establishment.

www.tugata.com www.visitdubai.com

#tugata

#visitdubai

 #rivexcel

#dubaitourism

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www.afrozonsdxb.com

 By Nwaorgu Faustinus

On Thursday, the 3rd of March, 2022, the global Afrobeat community will converge in Dubai for the highly anticipated AfroZons Dubai Soundoff. This event, which will give participants the opportunity to see Dubai with an Afrobeat theme, is sponsored by Dubai’s Department for Economy and Tourism, (DET), in partnership with American Afrobeat promoters, AfroZons.

The Soundoff will have in attendance; Radio Hosts, Celebrities and Key Opinion Leaders in the Afrobeat community from across the globe. Popular Afrobeat sensation, D’Banj, who was the first ever artiste to put an Afrobeat song in the UK top 10 with his single “Oliver Twist” will be part of the trip and has promised participants a memorable experience.

With the kickoff date around the corner, over 150 people from around the world have bought their packages to be part of the fun. Travelers from the USA, Nigeria, Kenya, Zambia, Tanzania, Zimbabwe, Ghana, Uganda, UK, and Angola are joining Afrobeat celebrities from around the world to go through this mind-blowing tour of Dubai.

Also attending will be over 20 Journalists from across Africa. These journalists will not only experience the glamor of the Soundoff but will also tell the stories of participants and create a lasting memory.

During the buildup to the event, radio hosts gave their listeners the opportunity to win free tickets to attend the Soundoff. So far, 72 winners have been cleared to attend the event in Dubai. The winners are from the USA, Nigeria, Kenya, Zambia, Tanzania, Uganda, UK, and Angola. The winners will receive flight tickets, accommodation, tickets to Expo 2020, access to the very exclusive AfroZonsDXB Desert Party and all activities linked to the Soundoff, courtesy DET.

The Soundoff which is slated to hold from the 3rd to 9th of March 2022 promises to be fun packed. The climax of the Soundoff will be a first of its kind, Afrobeat party in the desert, tagged, the “AfroZonsDXB Desert Party”. The Safari party will take place on the 7th of March 2022 and will have performances from Afrobeat DJ’s and artists from around the world. Some are DJ K Ceaser, DJ Nickie, Aya Ito, DJ Nosike, Stonebwoy, DJ Ringo and the KoKo Master himself, D'Banj.

AfroZonsDXB is the official social media hashtag for this project and will have regular updates as the Soundoff progresses. The official website for the Soundoff is www.afrozonsdxb.com. The website hosts further information on the Soundoff and will have regular updates on the progress of the trip. Also visit www.visitdubai.com for information on what more Dubai has to offer.

Speaking on the Soundoff, one of the lucky winners, Josiah Diaso from Nigeria, had this to say; “Let me start in an excited note that typifies how we feel right now and actually since we emerged as winners of this amazing experience that is promised by the Afrozons Dubai Soundoff.

“On the day of the raffle draw we screamed at the top of our lungs like we won a 50 million US Dollar Jackpot when my name was called; Of course, this is nothing short of a jackpot. My wife lost her voice for a whole day from the scream.

“The Afrozons Dubai Soundoff team is simply amazing for this once in a lifetime opportunity to experience Dubai in a way that many will never know. The transparency of how it all went is something to covet.

“We look forward to meeting the wonderful people who made this happen for me and my queen. This is us re-living our Honeymoon all thanks to you guys. We also look forward to being a part of all the sumptuous activities lined up during the Soundoff.

“It is more remarkable bearing in mind that my birthday is 7th March, within the Soundoff activity. This tops it as the best birthday gift ever.

“The Soundoff is a brilliant showcase of Dubai to the world as a preferred tourist destination. The magic and beauty that Dubai represents goes without saying as it is almost everyone's dream to experience Dubai. From our hearts we say a big Thank you for this glorious adventure.”

Another winner from Tanzania, Irene Shemndolwa, had this to say, “Winning the giveaway to me was still unreal until I got hold of the tickets! It will be a much-needed break from my busy schedule, and I’m super excited! Dubai is such a fun city and a shopping haven indeed, so I’m definitely looking forward to an amazing time there without forgetting live performance by D'Banj. I truly believe this will be a memorable experience.”

About The Dubai Department of Economy and Tourism (DET):

With the ultimate vision of positioning Dubai as the world’s leading tourism destination and commercial hub, Dubai’s Department of Economy and Tourism’s mission is to increase the awareness of Dubai among global audiences and to attract tourists and inward investment into the emirate.

Dubai’s Department of Economy and Tourism (DET), formally known as Dubai’s Department of Tourism and Commerce Marketing (DTCM) is the principal authority for the planning, supervision, development, and marketing of Dubai’s tourism sector. It markets and promotes the Emirate’s commerce sector and is responsible for the licensing and classification of all tourism services, including hotels, tour operators and travel agents. Brands and departments within the Dubai Tourism portfolio include Dubai Business Events, Dubai Calendar, and Dubai Festivals and Retail Establishment.

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Seed Vault

 By Mike Johnson

Everyone relies on food crops… including people who love eating meat. The importance of every country’s vegetation is inestimable. Can you imagine your country being fully bereft of crops?

Everyone would rely on the dwindling wildlife for food. Not to mention, the ecology of your country would completely change for the worse.

This isn’t an impossible scenario. Around 1,700 gene banks that house food crops aim to prevent this from happening. But again, should they fail to keep the seeds in their best condition for whatever reason, perhaps due to incorrect storage temperature or maybe because of natural calamity or man-made disasters, then there’s this seed bank in a remote Arctic island between Norway and the North Pole that has got them covered.

The Svalbard International Seed Vault houses duplicate copies of millions of seeds from seed banks from around the world. It provides a fail-safe protection for the seeds should the seed banks unsuccessfully keep the crops in their best condition.

Learn more about the Svalbard International Seed Vault and how it stores and protects the world’s seeds for future use in the infographic below, presented by mikesgearreviews.com

Global Seed Vault

By National Public RadioNews

Facebook banner

Facebook is rolling out a major change to its News Feed: pushing up news articles that come from "high quality" sources, and pushing down the others. The move signals that, in an effort to combat the problem of fake news, the social media giant is willing to play a kind of editorial role — making decisions based on substance, not just how viral a headline may be.

CEO Mark Zuckerberg said in a post to his Facebook page:

CEO Mark Zuckerberg said in a post to his Facebook page

The company asserts that its own executives will not pick and choose favorites. Rather, they'll let the users decide what counts as a trusted source.

Spokesman Todd Breasseale says in an email: "As part of our ongoing quality surveys, we asked a diverse and representative sample of Facebook users across the US to gauge their familiarity with, and trust in, sources of news. A source's broad trust is one of many signals that determine stories' ranking in News Feed. We boost links from sources with high trust scores and demote links from sources with low trust scores."

Facebook recently announced other reforms that, the company estimates, will result in less news in the News Feed overall — from the current 5 percent down to an estimated 

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