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Telecom | SingTel - Chris Hoare Ahead of its full year's results release on 23 May, SingTel announced that it is expected to suffer a net loss in 2H FY24 as a result of a S$3.1bn non-cash write down tied to the Enterprise divisions in Optus and NCS Australia. The impairment is comprised of a S$2bn goodwill impairment on Optus, amidst weakness in the Australian Enterprise spending and higher interest rates, S$470m from Optus Enterprise's fixed access network assets related to declines in its fixed carriage revenue, S$340m goodwill impairment related to the softer cyber security market in Asia Pacific and a S$280m write-down related to NCS Australia attributed to higher interest rates. Read full story here: https://buff.ly/3wqLPNC For more information on our #telecom #mobile product, and other Aletheia Capital research, please contact [email protected] #investments #advisory #ideas #fintech #InYourCorner

#ADBSriLanka I just finished an amazing online course on “Rearchitecting the Financial System” by the Centre for Finance, Technology and Entrepreneurship. Social, economic, and financial inclusion is key for all to benefit from fintech. For this affordable access to internet is fundamental, and interoperable platforms are required. Digital ID; universal trusted credentials; regulations including on eKYC, cyber security, data protection are all essential. I particularly appreciated the focus on enhancing access to financing for SMEs - especially for women entrepreneurs - which is a space ADB is supporting in Sri Lanka. However, our interventions today are still through the traditional banking system. We need to help adopt fintech for accelerated inclusion and growth. https://lnkd.in/gY-JkyXA

Today, I had the honor of attending Vietnam's 5th Smart Banking Summit: Strategy for Secure and Resilient Operation. The summit included representatives from the State Bank of Vietnam, Microsoft Vietnam, and major banks in Vietnam, such as Techcombank, BIDV, Vietcombank, TPBank, and others. Digital banking in Vietnam has been steadily rising, bringing both challenges and opportunities. One of the central issues is cybersecurity and digitalization, but Vietnamese banks seem to be managing it well. A particularly interesting topic for me was the demand for high-skilled talent in this area. For example, according to BIDV's Deputy CEO, just a few years ago, the bank had only around 100 IT professionals, but that number has now grown to over 1,000 as they work to develop their systems. This growth highlights that digitalization and cyber risk prevention are key development focuses not only for them but for the entire banking sector. This event provided me with valuable insights into Vietnam's banking sector, which is especially helpful as I am new to this field. I am hopeful that soon, as the necessary infrastructure is established, green financing will also gain significant attention and develop as robustly as digitalization has. #digitalization #cybersecurity #banking #greenfinance #ESG #sustainability #Vietnam

It’s been a big week for the African tech ecosystem and you can always count on us to report the stories that matter! In case you missed any, here’s a quick recap of the top stories we reported this week. 👇 -  On Thursday, Leatherback announced that Ibrahim Ibitade, co-founder and CEO, was stepping down. In his place, Toni Campbell was named interim CEO. At the best of times, the exit of a cofounder from a business will raise flags. For Leatherback, it was especially curious given its eventful past year. Ibrahim Ibitade spoke to TechCabal on leading Leatherback, the incident with the EFCC, and the misalignment of goals that necessitated his exit. Read all about it 👉 https://lnkd.in/dsXYdqJR - In response to the ongoing cost of living crisis, GTBank quietly raised staff salaries by 40% in September 2024. Despite raising salaries by almost half, the bank still has the cheapest salary bill among other Tier-1 banks, according to the 2023 financial reports of all Tier-1 banks. Get more details 👉https://lnkd.in/dnHEe-2Q  -  On July 13, 2023, Globacom was hit by a daring cyber attack. For weeks, employees couldn’t send or receive emails and customer care lines did not work. Perhaps the most worrying aspect of the attack are claims that the hackers accessed customer data. In an investigation that spanned a year in which TechCabal spoke to over 30 Globacom employees and contractors, a picture emerged of an unknown attacker holding a telco giant hostage for months. The company in turn held customers hostage, refusing to share information on the situation. Read all about it 👉 https://lnkd.in/gUcK__yp - Equinix, the world’s largest global data center and colocation provider, has completed the post-acquisition integration of Nigeria’s MainOne following a $320 million acquisition in 2022. As part of that integration, employees received new employment contracts. While those contracts saw employees receive a pay bump, it was not as significant as they expected, two people with direct knowledge of the matter said. Get all the details 👉 https://lnkd.in/dfbbYWRD What news story captured your attention this week? Let us know in the comments!

Abu Dhabi Islamic Bank Egypt (ADIB) has announced plans to invest approximately EGP 1bn in technology and digital transformation, alongside expenditures on cybersecurity enhancements. This announcement was made during the bank’s participation in the 28th Cairo ICT Exhibition, held from 17 to 20 November under the theme “The Next Wave”, which focused on exploring future technologies across various industries and sectors.

💡 Did you know? Between 2021 and 2023, the market value of traditional banks in the Philippines increased by $2.2 billion, while the total market value of the top three #fintech firms rose by $3.0 billion. Why are fintechs ahead? - Because they offer digital services that directly address the fears and concerns Filipinos have about traditional #banking systems, stemming from years of distrust, misinformation, and documentation hurdles. 𝗕𝘂𝘁 - 𝗱𝗶𝗴𝗶𝘁𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗶𝘀𝗻'𝘁 𝘁𝗵𝗲 𝘀𝗼𝗹𝗲 𝗴𝗼𝗮𝗹. 𝗦𝗮𝗳𝗲𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗶𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻 𝗶𝘀. Leaders like Lawrence Ferrer, President & CEO, CIS Bayad Center, Inc., gave us their invaluable wisdom on creating an ecosystem where financial inclusion seamlessly coexists with secure digital practices. Our latest report "The Philippines In Focus: The Fraud Landscape For Digital Banking And Lending" is chock full of similar insights into regional nuances along with trend sightings that should act as a roadmap for all fintech leaders! ✳ Come meet us at the #ManilaTechSummit happening on the 6th & 7th of August and get your own physical copy! [Link to the digital report in comments] #Finance #Fintech #ThePhilippines #CyberSecurity

Technology is shaping the banking sector, allowing banks to offer personalised experiences, streamline operations, and enhance security. However, data privacy, cybersecurity, and regulatory compliance issues pose challenges. Despite this, embracing technology aids efficiency, drives customer engagement, and increases loyalty. On March 21, at the Thought Leadership event 'Design Thinking for Digital Enterprise' in Bangladesh, Intellect will bring together a confluence of industry visionaries who will bring together a wealth of ideas on how financial institutions in Bangladesh can digitally empower themselves to get ready on becoming the next-gen powerhouses. Ramanan S V | Raju Daryani | Mohammad KAYKOBAD | Md. Rezwan Al Bakhtiar | Rubaba Dowla | Basab Bagchi   Stay tuned for more updates. #Intellect #eMACHai #DesignThinking #DigitalEnterprise #Bangladesh #Banks #Bangladesh3.0 #FinTech #financialservices

🇳🇬 Pioneering Innovation and Cybersecurity in Nigeria 🇳🇬 Nigeria's technology and innovation sectors, especially FinTech, are booming. With cutting-edge digital solutions, the country continues to drive financial inclusion, empowering millions across Africa. At the start of Cybersecurity Awareness Month, it's crucial to ensure that as we innovate, we also secure our digital future. In my latest interview, I discuss how Nigeria’s FinTech space is tackling cyber fraud and what we can do to protect our digital economy. One of my closing points in the interview was about regulation and innovation: “When it comes to regulation, some would argue innovation is always ahead of regulation, but I see a unique opportunity whereby a working group could be created within the private and public sectors to ensure that regulation is in line with innovation. Nigeria is doing a great job—the Central Bank of Nigeria, the Federal Ministry of Communications, Innovation & Digital Economy, NITDA Nigeria, and the Presidency Government of Nigeria are doing amazing work when it comes to cybersecurity. However, we need a collaborative effort where the industry and regulators align on technology using sandboxes and joint working groups to ensure that regulation stays relevant without stifling innovation. Ultimately, we need to innovate to stay competitive.” 🚀 Full interview here: https://lnkd.in/e9jUeX3S As we celebrate Nigeria’s progress today, it’s clear una dey try small small! Let’s continue building a secure, innovative future for the nation and beyond. 🇳🇬 #CybersecurityAwarenessMonth #FinTechNigeria #Innovation #SamuelUbido #FinancialInclusion

In my latest article, I've delved into the dynamic and transformative topic of digital banking in Sub-Saharan Africa (SSA). While SSA may have traditionally lagged in banking sector development, it's now making giant strides, leading the charge in digital banking innovation. However, it's not all smooth sailing. Challenges such as cybercrime, digital literacy, and limited infrastructure persist and must be addressed to fully unlock the region's potential. Check out the full article here: https://lnkd.in/ezXPdMHc #DigitalBanking #SubSaharanAfrica #Fintech #FinancialInclusion #BankingInnovation #FutureOfBanking #CyberSecurity #Fintech #SSA

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