Tag Archives: Technology

As Nigeria’s Cashless Transition Falters, POS Operators Thrive

Cash is expensive in Nigeria. When undercover agents for the Central Bank of Nigeria tried to buy cash on the open market, they found sellers charging markups of 20 to 40 percent of face value, the bank governor, Olayemi Cardoso, said at a March event in Abuja. Since 2012, the Central Bank has promoted a series of policies to reduce the amount of cash in circulation and shift Nigerians to electronic payments, which are lower cost, more secure, and more traceable. The Central Bank releases limited cash to commercial banks, who in turn cannot match public demand. When the banks do have cash, middlemen often take it in bulk to sell onward at a higher price.

In exchange, the Central Bank also built an ever-more-capable digital infrastructure for electronic payments, boosting Nigeria’s financial technology industry, and the volume of electronic payments in Nigeria grew around 16 times from 2018 to 2024. “Once that foundation was there, the cashless economy has done well,” says electrical engineer Funke Opeke, an eminence in the Nigerian technology scene who founded and later sold a crucial telecommunications and data services company, MainOne.

On the one hand, that is a victory. On the other hand, only those with reliable access to the Internet (about half of Nigeria’s population) can count on electronic payments. The rest still need cash.

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Can We Automate Eureka Moments?

JUST OUTSIDE LAUSANNE, SWITZERLAND, in a meeting room wallpapered with patent drawings, Ioannis Ierides faced a classic sales challenge: demonstrating his product’s advantages within the short span of his customer’s attention. Ierides is a business-development manager at Iprova, a company that sells ideas for invention with an element of artificial intelligence (AI).

When Ierides gets someone to sign on the bottom line, Iprova begins sending their company proposals for patentable inventions in their area of interest. Any resulting patents will name humans as the inventors, but those humans will have benefited from Iprova’s AI tool. The software’s primary purpose is to scan the literature in both the company’s field and in far-off fields and then suggest new inventions made of old, previously disconnected ones. Iprova has found a niche tracking fast-changing industries and suggesting new inventions to large corporations such as Procter & Gamble, Deutsche Telekom, and Panasonic. The company has even patented its own AI-assisted invention method.

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Europe Struggles to Quit Chinese Telecom

This month Huawei filed a complaint against Spain’s rural 5G contracting process, because the tender made it too risky for bidders to include the Shenzhen, China telecom giant’s hardware. The filing is the company’s latest move in its long, involuntary departure from Europe and other global telecom network markets.

Huawei holds a strong, global market-leading position in telecom network hardware, says Stéphane Téral, founder and chief analyst of Téral Research in San Francisco. However, he adds Ericsson and Nokia have in recent years made “competitive hardware in a timely manner” such that they should be up to the challenge of replacing Huawei networks wherever there’s demand. 

Huawei and ZTE, the other major Chinese-headquartered telecom supplier, are stuck between a law and a hard place. Two, actually: the equipment manufacturers are subject to a pair of laws that, if enforced, could require them to comply with security-related instructions from the Chinese government. On the other hand, other countries are writing more and more restrictive language into their telecom and security regulations that restrict suppliers subject to such explicit pressure from third countries—which effectively means China.

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Diodes at Right Angles Double Autofocus Capacity

In 2013, Canon introduced its first dual-pixel autofocus, a technology that allows almost every pixel in a photo sensor to help focus the image it takes. Now Canon researchers say they’ve developed a new improvement on their previous improvement to autofocus tech. And this new approach finds its focus faster, better, and in lower light—without requiring new components and technologies to be invented first. It simply involves one small twist. 

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