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Access Bank partners AfriGOPay to issue AfriGO Card. 1 other story and a trivia



Access Bank gets CBN's nod to acquire Kenya’s Transnational bank

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Access Bank Partners AfriGOPay to issue AfriGO Card

Access Bank gets CBN's nod to acquire Kenya’s Transnational bank

Access Bank has partnered with AfriGOPay to become the first bank to issue a live card, AfriGO Card.

Deputy Managing Director for Retail Banking at Access Bank, Mr. Victor Etuokwu, disclosed this in a statement seen by Ripples Nigeria on Friday.

The Nigeria Inter-Bank Settlement System (NIBSS) and the Central Bank of Nigeria (CBN) worked together to create the AfriGO card program.

The CBN Governor, Mr. Godwin Emefiele, who had earlier spoke on the development, noted that the card would operate similarly to other international payment cards.

According to the Emefiele, the introduction was as a result to boost financial inclusion in the nation and reduce reliance on foreign cards.

“It is with excitement that we announce that Access Bank, Nigeria’s largest retail bank with over 60 million customers, is the first financial institution in Nigeria to successfully issue the first live card of Nigeria’s national card scheme- AfriGO,” said Etuokwu.

Premier Oiwoh, the MD/CEO of NIBSS added that “The launch of our national domestic card scheme AfriGO is very timely; AfriGO will drive our financial inclusion goals amongst many benefits, and we are thrilled that Access Bank is the first bank in Nigeria to issue AfriGO cards to its customers.”

Tech Trivia: What removable memory card technology was developed by Sony?
A. SmartMedia
B. Compact Flash
C. Memory Stick
D. Secure Digital
Answer: see end of post

Read also:Lagos-based startup, Fez Delivery, secures $1M funding. 2 other stories and a trivia

2. Agri-Business Capital Fund invests $4.5m in African agri-businesses

An Agri-Business Capital Fund (“ABC Fund”) has invested €4.21 million (about $4.5 million) in the agri-tech industry across Africa.

Jerry Parkes, CEO of Injaro Investments, confirmed the funding in a statement on Friday.

ABC claimed it had financed food production businesses in Benin, Mali, and Uganda, as well as a microfinance institution based in Nigeria.

“We are proud to support smallholder farmers in Benin, Mali, Uganda, and Nigeria through these investments.

“This financing is vital to support the growth of these companies and to make their affiliated smallholder farmers more sustainable and efficient,” said Parkes.

In addition to the new investments, the Parkes added that ABC Fund has provided follow-on financing to some of its investees.

Trivia Answer: Memory Stick

Memory Stick is a type of flash memory developed by Sony.

It is used to store data for digital cameras, camcorders, and other kinds of electronics.

By Kayode Hamsat

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