A Nigerian fintech start-up is helping small businesses reduce the risk of cyberattacks.

Following NowNow’s participation in the Mastercard Start Path Global programme last year, which aims to improve financial innovation in Africa, the company offers a mobile banking app that can be used to send and receive money, and pay bills. As reported by the Guardian Nigeria, it will now also provide SMEs with free resources to help educate and improve their cybersecurity ecosystems, including regular web application penetration tests to ensure that apps are not vulnerable to cyber threats.

There has been a significant increase in cybercrime in recent years, and the country loses an estimated US$500 million yearly due to cybercrime.

The Mastercard programme will provide NowNow with operational support, commercial engagement, and the opportunity for strategic investment.

According to the Guardian, the service is currently available in Nigeria and Angola, with plans for expansion to other markets, including Equatorial Guinea and Liberia.

28 February 2023
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