Tag: Director

Report: Investors having difficulty in getting funds out of Nigeria, Kenya- EFG Hermes Research

An analyst at EFG Hermes Research has disclosed that investors are having difficulty in getting funds out of Nigeria and Kenya and this has badly impacted on the economy of both frontier markets.

Speaking recently at the company’s virtual media roundtable event, the MD, Head of Strategy at EFG Hermes Research, Mr. Simon Kitchen noted that both countries are missing from the $150 million frontier markets inflow in the last three weeks over the scarcity of foreign exchange.

He noted that stocks in both African countries are the cheapest since the global financial crisis that happened in 2017/2018, stressing that their valuations are too good to ignore.

According to him, “In Nigeria, foreign exchange is a long-standing problem. Foreign Exchange has been scarce since 2020 and foreigners are just impossible to take money out of the Nigerian economy if they sell stocks. In Kenya, it has become a problem.

“Nigeria and Kenya together make up more than 10 percent of that frontier market index and that means that the $150 million that came in the past three weeks, as such a minimum of $15 million should have gone into Nigeria and Kenya markets.

“What it means is foreigners just aren’t putting that money in and so I think, from a foreign investor point of view, it is absolutely critical that authorities in these two countries fix this unfortunate FX situation.”

He expressed optimism about Nigeria’s foreign exchange market in 2023 amid the change in political leadership with the forthcoming general elections.

He stated that, “The change in leadership could create an opportunity for the new government to draw a line under the years of orthodox policies and take the right decision in fixing the foreign exchange crisis and fix finances on a sustainable growth.”

He noted that once foreign exchange challenges are tackled, Nigeria would witness an inflow of foreign funds.

On how to drive stock market growth, he urged pension funds in Nigeria and Kenya to invest more money in stocks, calling on regulators to change incentives.

Speaking also, the Director, Sub-Saharan, EFG Hermes, Ronak Gadhia highlighted that pre/post-election friendly business environment in Nigeria could drive banks’ Return on Equity (ROE) and credit growth.

“The Nigerian Banks around the back end of 2019 have witnessed earnings and ROE come under significant pressure. That’s because of the unorthodox policy of the Central Bank of Nigeria (CBN) and also the macroeconomic challenges in Nigeria.

“We have seen some recovery this year but if we do see a more business-friendly environment come through next year, which then translates to a more friendly CBN, then, in turn, we should continue to see asset yield increase further which will have a positive effect on banks’ margins.

“Banks could benefit next year if the CBN eventually devalues the local currency. We have found out that most banks have a long position on the dollar. If the naira wants to devalue, we should see significant revolution gains for the likes of Guaranty trust and Zenith bank.

“Of course, we see a friendly environment, we should start to see credit growth. It might not happen immediately, because obviously, banks will be very conservative given the economic shock that Nigeria’s economy will face because of these reforms. Over a period of 12-18 months, we should start to see credit growth and drivers for banks’ earnings and profitability.”

December 20, 2022
Danbatta named NDLEA Ambassador

The National Drug Law Enforcement Agency (NDLEA), has named the Executive Vice Chairman of the Nigerian Communications Commission, NCC, Professor Umar Danbatta as its Special Ambassador in its renewed war against narcotics and use of other dangerous substances leading to addiction in the country.

Commander for Narcotics at the NDLEA Federal Capital Territory (FCT), Muhammed Ajiya, who announced the Ambassadorial recognition by the agency during a courtesy visit to the Commission in Abuja last weekend, said the objective of the NDLEA’s visit was to partner with the Commission in order to reduce the number of drug addicts in the country through sensitization programmes.

He said one of the aims for this collaboration is to explore the use of telecom platforms to disseminate information about its activities to sensitize the citizens. He said this has become strategic as nearly all Nigerian youths are telecom subscribers who interface with telecom platforms from time to time. Ajiya said NCC comes readily to mind as a good partner to the NDLEA to achieve the latter’s mandate of reducing cases of drug addicts among Nigerian youths.

“The NDLEA has rehabilitation centres across the country. This shows that we do not only apprehend the drug addicts, but we have rehabilitation centres where we monitor and guide them until they are fully rehabilitated” he said as he expressed appreciation that the NCC boss considered and accepted this role in the fight against drug addiction in Nigeria.

NCC’s Director, Human Capital and Administration, Usman Malah, who received the NDLEA’s delegation on behalf of the EVC of NCC, assured the visiting team of the Commission’s commitment to supporting the drug agency in eradicating drug abuse and sensitizing the citizens especially the young generation, majority of whom are telecoms consumers, on the effect of drug.

“Strategic collaboration and partnership is one of the key pillars of the two regulatory roadmaps of the Commission – the Strategic Management Plan (SMP) 2020-2024; and the Strategic Vision Implementation Plan (SVP) 2021-2025 – and we would convey the NDLEA’s message to the Commission’s management to see how we can explore the areas of collaboration being requested by your agency,” Malah said.

December 13, 2022
Women are changemakers, creators of sustainable future for all

The Director of Corporate Affairs and Sustainable Business, Unilever West Africa, Mrs Soromidayo George, noted that women are changemakers who play a critical part in creating the envisioned and sustainable future required for all.

George made this known while speaking at the 2022 BusinessDay Inspiring Woman Series II, themed “Leading the Change-My Story, my role, my expectation,” held in Lagos.

She explained that there is ample evidence that a country’s economic prospects are conditioned by how engaged women are in society, how able they are to engage in the boardroom, how women entrepreneurs can thrive, and so much more.

She stated that unlike before, when the conversations around women’s issues revolved around human rights only, today, women’s empowerment is an essential part of the solution to addressing economic challenges.

“All over the world, women are becoming changemakers, helping to create a new narrative. We cannot afford to be left behind because the world’s future belongs to us. Our place in building any economy and rebuilding our nation cannot be underestimated. As women, we recognize that we are an important economic, social, and political force,” she said.

In his remarks, The Category Manager of Homecare, Unilever Nigeria Plc, Oladapo Oshuntoye, noted that the Sunlight brand has chosen to take advantage of the platform to drive home the significance of women empowerment in addressing numerous economic challenges.

According to Oshuntoye, the empowerment of Nigerian women through different requisite skills and start-up tools by the Sunlight brand has contributed significantly to reducing the level of poverty and also helped many women to unleash their potential.

Also speaking, the Brand Manager, Sunlight, Oluwapelumi Kolade, stated that the brand has decided to sponsor the event to make a strong case for the economic powerhouse that women represent. Kolade noted that the company is delighted to support the initiative as it offers a platform to motivate women and challenge them to achieve their dreams.

“Over the last years, through the Sunlight brand, Unilever has embarked on many initiatives to assist women in harnessing and unleashing their potential. As an organization, we remain committed to advancing the cause of women in society. This commitment, we have executed through numerous initiatives, among which is the Shakti Women Empowerment Programme set out to support the entrepreneurial skills of women to enable them to do more for their families and households,” he said.

December 8, 2022
Huawei names Computer Lab after Danbatta, District Head Commends Him

A computer lab, constructed by Huawei Technologies and commissioned at the weekend to serve the community of Koguna Town of Makoda Local Government of Kano State, has been named “Prof. Umar Garba Danbatta Computer Lab”.

Director, Public Relations of Huawei Nigeria, Lola Fafore, said at the commissioning, which was witnessed by the Executive Vice Chairman of the NCC, Prof. Umar Danbatta, and the District Head of Makoda, Alhaji Labaran Abdullahi, that the project was among the company’s contribution to Nigeria as part of its corporate social responsibility. Fafore assured that Huawei will continue to promote digital inclusion, primarily through the provision of access to technology.

“Huawei has been operating in Nigeria for over 22 years now and we can say that Nigeria is a great country filled with many great talents and potential. We love the Nigerian people and are happy to always give back through Corporate Social Responsibility initiatives such as this,”

“Huawei is therefore constantly making more effort in terms of connectivity, applications, and skills transfer to promote digital inclusion for all. This is in line with Huawei’s mission to bring digital services to every person, home, and organization for a fully connected intelligent world. As part of our contribution to this great nation, we believe in making technology accessible to all. Technology should not be for the few, but for everyone,” she said.

In appreciation of naming the centre after him and donating to the community, Danbatta commended Huawei Nigeria Limited. He also thanked the company for the central role it has played in the development of the telecommunications industry in Nigeria.

“This computer laboratory was built through a huge donation by Huawei. And Huawei is a household name in Nigeria. They provide and manage services for major telecommunications companies in Nigeria. They are dominant in that sector. I can’t imagine the state of telecoms in Nigeria without the invaluable role that Huawei is playing in the country,” Danbatta said.

Traditional ruler of Makoda who doubles as Barayan Bichi, poured encomiums on the donors and the NCC boss, whose philanthropic disposition attracted the gesture to the community.

He said Danabatta has been making invaluable contributions to the development of our communities, the state, and the nation at large. The community leader stated that Danbatta has implemented many philanthropic and people-oriented projects in his Danbatta community in addition to his strides in driving the development of ICT adoption and usage, through numerous initiatives as the country’s Chief Telecoms Regulator.

Those who attended the commissioning ceremony include, the Vice Chairman of Makoda Local Government, Alhaji Yusif Bala, the Director of Human Capital and Administration of NCC, Barrister Usman Malah, the Chief of Staff to the EVC, Malam Hafiz Shehu, and the Controller, NCC Zonal Office in Kano, Malam Shuaibu Swade among others.

December 1, 2022
The 61st FirstBank Lagos Amateur Open Golf Championship Tees off today

In furtherance of its commitment to the development of sports in Nigeria, First Bank of Nigeria Limited has announced that the 61st edition of the FirstBank-sponsored Lagos Amateur Golf Championship has been scheduled to tee-off at the golf section of Ikoyi Club 1938 on Friday 18th, to Sunday 20th of November 2022.

To be played over 54-holes (3-days), the FirstBank Lagos Amateur Open Golf Championship is a World Amateur Golf Ranking (WAGR) listed competition that attracts the best golfers from the amateur scene, not only in Nigeria but across the world. The emerging winner of the Championship, the Amateur Champion for the year, also earns points that contribute to their WAGR ranking. The 61st FirstBank Lagos Amateur Open Golf Championship is also supported by Seven-Up Bottling Company, One Spirit Company and Palton Morgan Holdings.

On behalf of the tournament organisers, Ibukun Obatoyinbo, Director, Concierge Sports said “FirstBank Lagos Amateur Open Golf Championship has been the premier amateur golf event in West Africa. It is notable that some of the top golf professionals within this environment have been participants & past winners of the Championship. As we mark the 61st edition this year Concierge Sports are committed to the continued promotion & support of the development of the sport in Nigeria. We are confident that a new set of stars will emerge courtesy of FirstBank’s unwavering sponsorship of the Championship. We look forward to an exciting 2022 edition.”

Anticipating the thrills of fun and excitement to be witnessed in the 61st FirstBank Lagos Amateur Open Golf Tournament, Oluwaseyi Otulana, Chief Marketing Officer, Palton Morgan Holdings said “Palton Morgan Holdings is proud to be a partner at the 61st edition of the FirstBank Lagos Amateur Open Golf Championship. The game of golf is truly a game of the masters and as the budding masters converge this year at the Ikoyi Club 1938 Golf Course, a long-standing tradition since the Championship’s inception in 1960, we look forward to an exciting tournament as participants journey from far and near to grace this prestigious event.

We understand that great things come from humble beginnings which is why we are glad to be a part of this year’s event. Palton Morgan as masters in our own right wishes all the participants the best of luck.”

Speaking ahead of the 61st edition, Mrs. Folake Ani-Mumuney Group Head, Marketing and Corporate Communications highlights FirstBank’s consistent role in driving development through sports: ‘’As an institution that is woven into the fabric of the society for nearly 129 years, FirstBank has been at the forefront of the growth and development of sports in Nigeria for decades. Our constant commitment to sports is a demonstration of our belief that sport remains a major vehicle for social and economic development. From infrastructure development, employment generation to social skills, sport remains a unifying force for socio-cultural interaction and development regardless of language, culture and religion.’’

Assuring participants of a memorable tournament, Dr. Anthony Oboh, Golf Captain, Ikoyi club 1938 stated that “It’s our pride and honour to welcome participants to the 61st edition of the FirstBank Lagos Amateur Open Golf Championship, the premier amateur golf event in West Africa. 61 years of continued partnership with FirstBank has been phenomennal. It is a partnership we are proud of and we look forward to fostering for many more decades.

To participants from across Nigeria and Africa, we invite you to enjoy our facilities. This 2022 edition promises to be more exciting and better than those before it. Go swing, enjoy your golf, and we can’t wait to congratulate the Amateur Champion for the year.”

Expressing his appreciation to FirstBank for its unbroken sponsorship through the years, Ademola Mumuney, Chairman, Ikoyi Club 1938 noted that “golfing in Nigeria and particularly Ikoyi Club 1938, cannot be sufficiently described without due recognition of FirstBank’s consistent and unbridled partnership, year over year, for more than six decades. Greatness is well exemplified in this fusion of Golf and FirstBank. I hope other organisations would latch on to this for better enhancement of sports in Nigeria”.

Since its debut, FirstBank Lagos Amateur Open Golf Championship has been the most consistent and premier amateur golf event in West Africa and has produced great champions most of who are competing in the elite professional golf cadre. Last year, the Championship threw up Ilorin based Aminu Kadir who won the landmark edition. It is expected that this year’s edition will produce another great winner.

Other FirstBank-sponsored sporting events include the Georgian Cup of Kaduna Polo Tournament, sponsored for 102 years; the Dala Tennis Hard Court in Kano Club for over 30 years; the Obasanjo Pro-Amateur Golf tournament of Abeokuta Club now in its 6th year. The Bank’s influence in the development of sport in Nigeria is under its First@Sport initiative.

November 18, 2022
AFRIMA & CANEX WKND Announce All-Star Line up for Closing Concert
All is set for Creative Africa Nexus, CANEX WKND 2022, coming up from 25th to 27th November 2022, in Abidjan, Côte d’Ivoire, as creatives, investors, industry leaders, creative industry businesses and government representatives, gather for a 3-day event with a strong focus on sharing skills and best practice from sectors across Africa’s creative and cultural industries.

More than simply a business-to-business conference aimed at Africa and the diaspora’s booming creative sector, CANEX WKND is also a celebration of the creative talent that is taking the world by storm. The CANEX WKND is an initiative of the African Export-Import bank (AFREXIM), which has been a key player in developing the African creative industry.

According to the President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank), Professor Benedict Oramah, “The CANEX WKND presents an opportunity to unlock the best of Africa.”

He also further emphasized the value of CANEX WKND as a goldmine for Africa’s untapped talents, citing the depth of insight and opportunities to be shared at the free-to-attend event.

In addition to a high-profile fashion show, film screening and a range of live performances, CANEX WKND will close with a multi-artist concert that features some of the best talents from Africa and beyond.

In proud partnership with The All Africa Music Awards, AFRIMA, on Sunday 27 September, CANEX WKND is proud to present a concert featuring:
- Yemi Alade, Singer (Nigeria)
- Josey (Côte d’Ivoire)
- Nandy (Tanzania)
- Nadia Nakai (South Africa)
- Suspect 95 (Cote d’Ivoire)
- Didi B (Côte d’Ivoire)
- DJ Mohgreen (Morocco/ France)
- Julian Marley (USA)
This line-up, especially curated by AFRIMA and CANEX WKND aims to showcase the diversity of talent from across the continent, and with an important nod to the diaspora. Artists representing the various regions of Africa will bring their star talent and energy to the closing event of what promises to be an historic event for Africa’s creative sector.

CANEX and AFRIMA are aligned as platforms with the mission to promote, develop, and celebrate African talent. As Africa’s leading music awards event, AFRIMA has developed a strong reputation based on its key values of Fairness, Authenticity, Creativity, Excellence, Integrity and Transparency.

According to the Executive Producer/President, AFRIMA, Mr. Mike Dada, the partnership with CANEX WKND is a great move to consolidate efforts in developing Africa’s creative economy.

“Having seen that AFREXIM’s vision for CANEX WKND aligns significantly with our primary objectives of stimulating the creative economy, and developing it for the future generations, we are very excited to partner on this. We are happy about the fact that this will also help further promote African talents to an international audience, and give them more access to career-lifting opportunities. This is the beginning of more great collaborations for the growth of the African creative space.”

CANEX WKND is free to attend for all delegates who will be able to attend all the key event sessions including a range of intensive masterclasses commencing on Thursday 24 November, the main plenary sessions that will include experts such as; Prof. Bruce Onobrakpeya (Nigeria); Didier Drogba, Retired Professional Footballer (Côte d’Ivoire) Alex Okosi, Managing Director of EMEA Emerging Markets at YouTube (Nigeria); Elvis Adidiema, Director, Sony Music for French-speaking Africa (Congo); Abdul-Karim Abdullah, Founder and Chief Executive Officer of Culture Management Group (CMG) and Afrochella Festival (Ghana); Magali Ohouens, Modern Art Specialist & Exhibition Coordinator at Cécile Fakhoury Gallery (Côte d’Ivoire); Armando Cabral, Founder and Creative Director, Armando Cabral (Portugal); and Chimamanda Ngozi Adichie, Author (Nigeria) amongst others.
November 18, 2022
MTN Foundation Launches Y’ellopreneur

… a dedicated intervention for female entrepreneurs in Nigeria

The MTN Foundation in partnership with the Bank of Industry and the Enterprise Development Centre (EDC) has officially launched the first phase of the Y’ellopreneur programme for female entrepreneurs in Nigeria. The announcement was made on Tuesday, 8 November 2022, at a media event hosted by the Foundation, at the MTN Nigeria Head Office, Falomo, Ikoyi.

The Y’ellopreneur initiative is designed to build the entrepreneurial skills of 500 women, through capacity-building sessions that will run for four weeks. The outstanding 150 entrepreneurs with recommended bankable businesses will be supported with an equipment loan of up to N2 million each at a fixed interest rate of 2.5% and 36 months repayment duration. The programme is focused on advancing women’s development in the area of entrepreneurship through capacity building, advisory and business support services.

Giving the opening remark at the media event, Director, MTN Foundation, Dr. Mosun Belo-Olusoga, highlighted the impact the Y’ellopreneur initiative will have on women-owned businesses in Nigeria. “This is a cause I am particularly passionate about, and I am gratified that MTN is demonstrating its continued commitment to supporting women’s development through the implementation of the Y’ellopreneur initiative.

The initiative will contribute to reductions in female unemployment and advance our development through training designed to enhance the entrepreneurial abilities of the 500 women,” she said.

Speaking on the selection of the Y’ellopreneur participants, Executive Secretary, MTN Foundation, Odunayo Sanya said, “We were particular about the types of business that we wanted to fund. For us, it was about the real economy, and today we are training women across a range of businesses including; manufacturing, processing, ICT, agriculture, waste management and recycling.

“It was also important that we had applications from women across Nigeria and we currently have women across the country who are part of the selected participants,” she said.

Also speaking at the event, Divisional Head, SME South, Bank of Industry, Obaro Osah said, “We understand that women are the backbone of entrepreneurship in Nigeria, and that is one of the reasons the Bank of Industry has put several initiatives in place to support women-led businesses at the same time helping them scale their business. We are excited to partner with the MTN Foundation on this initiative.”

The Y’ellopreneur initiative, the first of its kind in furthering MTN Foundation’s strategic effort to participate in the reduction of female unemployment in Nigeria, will help transform budding small businesses for Nigerian women. It began with a call for entries on June 23, 2022, and over 42,300 women applied for the initiative of which 500 were selected to be the first set of Y’ellopreneurs.

November 8, 2022
NCC Committed to FG’s Anti-Corruption Crusade – Danbatta

Consistent with its recognition as an ethically-compliant public institution by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Nigerian Communications Commission (NCC) has reaffirmed its commitment to collaborating with other government agencies towards supporting Federal Government’s anti-corruption campaigns.

This was stated by the Director, Human Capital and Administration, Mr. Usman Malah, who represented the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of NCC, Prof. Umar Danbatta, to host a delegation from the Public Complaints Commission (PCC), which paid a courtesy visit to commend NCC for its role in enabling embrace of digital culture in the country.

According to Malah, the NCC earned a score of 81.15 percent in the year 2020, putting it in the top 10 Ministries, Departments and Agencies (MDAs) of government among 352 MDAs assessed on Ethics Compliance and Integrity Scorecard (ECIS) by the ICPC.

Malah told the PCC delegation that “with this performance, the Commission also emerged as the most ethically compliant government regulatory agency for the year 2020 under the Ministry of Communications and Digital Economy.”

According to Malah, it was natural for NCC to support efforts geared toward tackling corruption in the country. Therefore, he said NCC was willing to collaborate with the PCC to boost the anti-corruption campaign of the Federal Government aimed at curbing corruption and negative tendencies among the Nigerian youth.

The Commission acknowledged PCC’s enlightenment programme on anti-corruption targeted at the Nigerian public, the youths and students, who, he said, can be great stakeholders for the sustainability of the anti-corruption campaign, and support for telecom sector initiatives to boost the national economy.

Malah said the “NCC also strongly associates with the central objective of PCC, which is to redress all forms of administrative injustice in Nigeria, and the noble goal of promoting social justice, especially in a world that is increasingly complex and sophisticated for the average individual, given the rapid advancements in technology and diversity of practices.”

Earlier, the PCC Secretary, Philip Enyali, who represented the Chief Commissioner (Ombudsman of the Federal Republic), Abimbola Ayo-Yusuf, commended Danbatta for maintaining zero tolerance for corruption and for the noble achievements of the Commission under his leadership. Ayo-Yusuf said NCC strides have seen the telecommunications sector contributing immensely to the Gross Domestic Product (GDP), and overall economic growth of the nation.

Enyali stated that the PCC’s purpose of visiting the NCC was to intimate the telecom regulator on the scheduled Anti-Corruption Marathon at the Eagle Square, Abuja, as well as the National Youth and Students Summit which will take place later in December 2022.

“We are here to request the support and partnership of the NCC in hosting the two events targeted at curbing anti-corruption tendencies among the Nigerian youth as well as create opportunities to discourage young people from indulging in corrupt practices,” Ayo-Yusuf said.

November 1, 2022
NCC Advises Parents against Children’s Uncontrolled Exposure to Online Activities

The Nigerian Communications Commission (NCC) has urged parents and guardians to monitor and manage the engagement of their children online as the uncontrolled exposure to cyberspace is fraught with a lot of negativities to children’s well-being.

Contributing during the recent First Web Rangers Nigeria Summit in Abuja, a Google’s initiative that focuses on developing digital literacy and equipping telecom consumers with the knowledge they require for their online safety, Executive Vice Chairman of NCC, Prof. Umar Danbatta, said it is imperative to know what our children are doing in the cyberspace.

At the Summit, with the theme, “Navigating the Responsibility of Online Safety Between Users, Providers and Regulators”, which discussed measures for addressing challenges posed by online criminal activities as they affect children and the youth, Danbatta, represented by the Director, New Media and Information Security (NMIS), Dr. Haru Alhassan, said that the Commission is committed to supporting the governance and security of the nation’s cyberspace, as well as facilitating the adoption of innovative technologies and acquisition of Information and Communications Technology (ICT) skills.

He said the telecom regulator is aware of the responsibilities entrusted on it in ensuring safety in the digital ecosystem, which informed its establishment of NCC Computer Security Incidence Response Team (CSIRT) that was inaugurated in 2021.

He explained that CSIRT responds to computer security incidents to regain control and minimise damage, providing or assisting with effective incident response and recovery, and inhibiting computer security incidents such as malware, virus, and online child threats.

Alhassan also recalled the Commission’s establishment of the Internet Industry Code of Practice (ICP) in 2019, which is designed to secure the country’s cyberspace against imminent threats from cyber attackers as well as addressing issues such as online child protection, privacy and data protection, among others

Dr. Alhassan noted that the Commission is a member of the National Committee on the Development of a Unified National Strategy on Child Online Protection (COP) in Nigeria and emphasised that NCC regularly sensitizes parents and children on cybercrime trends such as cyberbullying, phishing, and online identity theft.

Dawn Dimowo, Manager, Government Affairs and Public Policy, Google Nigeria, stated that the Summit is an opportunity for strengthening the advocacy for digital safety and allowing the youth to share their innovation.

The maiden web ranger summit was anchored by the Public and Private Development Center (PPDC) through the Digital Inclusion and Safer Internet (DISI) programme.

As an organisation, the PPDC has successfully pioneered safer internet and digital inclusion practices and activities in some schools and among many stakeholders in Nigeria. Some of these initiatives are the development of the Online Safety Curriculum, the Web Rangers Clubs, online safety training for staff and students, and the annual celebration of safer internet day in collaboration with the Nigerian Education Research and Development Council (NERDC).

October 27, 2022
NCC wins Innovative Telecom Regulator of the Year Award at the 2022 TIA

As Nigerian Communications Commission (NCC) recently won double awards at the 2022 Tech Innovation Awards (TIA), the telecom regulator has promised to ensure it brings full benefits of the digital economy to Nigerians for the overall development of the country.

At the 6th edition of the annual awards, which took place in Lagos, the Commission was named The Innovative Telecom Regulator of the Year Award while its Executive Vice Chairman, Prof. Umar Danbatta, was honoured with the Telecom Industry Leader Award.

Speaking after receiving the awards on behalf of the Commission and the EVC, NCC’s Director, Public Affairs, Reuben Muoka, said, the Prof. Danbatta’s leadership has committed to the implementation of progressive policies, plans, strategies, and regulatory initiatives to ensure continuous development of the Nigerian digital economy for the benefits of Nigerians.

He said among several government policies and strategies on the digital economy which the NCC has continued to vigorously drive, include the implementation of the Nigerian National Broadband Plan (NNBP), 2020-2025, through which Broadband penetration has hit 44.5 percent; and the National Digital Economy Policy and Strategy (NDEPS), 2020-2030, both of which have been streamlined in the NCC’s Strategic Management Plan (SMP) 2020-2024, and the Strategic Vision Plan 2021-2025.

He dedicated the awards to the staff of the Commission who are working tirelessly to ensure that the internal processes for effective regulation run smoothly. He promised an even deeper commitment to advancing the frontier of digital connectivity in all nooks and crannies of the country.

“Great leadership usually starts with a willing team, a positive attitude, and a desire to make a difference, and our team at NCC has been relentless to see that the Commission’s strategic objectives, as enshrined in the SMP 2020-2024, and other extant policies bring the benefits of a digitised economy to the citizens of Nigeria.

“These wonderful staff, who are my foot soldiers, are tirelessly working to improve stakeholder collaboration, promote innovative regulatory services, and improve communication’s resource and project management. These awards prove that our efforts are visible and appreciated,” he said.

Earlier, Chief Executive Officer of InstinctWave, organisers of the annual awards, Akin Naphtal, said the two awards went the way of the Commission owing to the recognition of its leadership finesse which has helped in innovatively fulfilling its brand promise to promote a connected environment of endless opportunities.

He said the annual awards, the Nigerian tech ecosystem’s equivalent of Oscar, sets the highest industry standard for honouring organizations and individuals in the telecom and Information and Communication Technology (ICT) sector in Africa; and recognises innovative individuals and organisations at the forefront of digitisation that is taking place in Nigeria’s ICT ecosystem and beyond.

October 26, 2022
NCC Receives Cybersecurity Award, Seeks Safer Internet Usage

The Nigerian Communications Commission (NCC) at the weekend in Lagos, received a cybersecurity promotion award at the maiden edition of Cybersecurity Merit Awards hosted by the Cybersecurity Experts Association of Nigerian (CSEAN) which enumerated several steps taken by it to promote a safer Internet.

The award, which was conferred on the Commission, ahead of other contending organizations, listed its sterling contributions to the protection of telecom consumers from all forms of cybercrimes.

Director of New Media and Information Security of the NCC, Dr. Haru Alhassan, who received the award on behalf of the Executive Vice Chairman of NCC, Prof. Umar Danbatta, said such a credible award from professionals is encouraging for the efforts which the Commission has made in cybersecurity.

He told the audience that tackling the menace of cybercrime in the country has become even more imperative as the success of the implementation of digital economy policy and strategy depends on a strong foundation of cybersecurity architecture in Nigeria.

Director of Public Affairs of the Commission, Mr. Reuben Muoka, who gave a goodwill speech on behalf of the CEO of the Commission, traced the efforts of the Commission in relation to its networking activities at the international level, including the global Internet Governance Forum and other initiatives like the Child Online Protection.

He adverted the minds of the experts to the provisions of the National Digital Economy Policy and Strategy (NDEPS) 2020-2030, which one of the 8-Pillars focuses on Soft Infrastructure, is premised on harnessing policy and regulatory initiatives to create an enabling environment that targets increased protection for users of digital products and services in the country.

“The Commission is committed to ensuring that the Nigerian cyberspace is protected against the nefarious activities of cybercriminals that endanger unsuspecting Internet users in the country,” the EVC said. He also stated that it is in recognition of the strategic role the cyberspace plays in the advancement of digital economy that the Commission created NMIS Department to take charge of several activities, initiatives and programmes pivoted on collaboration to enhance cyber and information security in the Nigerian cyberspace.

“We have continued to be part of the Internet Governance Forum (IGF), promote Child Online Protection as well as create awareness on cyber threats through the NCC’s Computer Security Incidence Response Team (CSIRT), which constantly monitors the cyberspace and publishes advisories on identified cyber threats,” the EVC said.

The CMA 2020 was organized to recognise individuals, startups, private businesses, Ministries, Departments and Agencies (MDAs) of government, as well as state governments, for excellence, innovation, and effective leadership in promoting cybersecurity ecosystem in Nigeria.

October 25, 2022
The African Women Innovation and Entrepreneurship Forum Announces Host City for 2023 Conference

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (www.AWIEForum.org) has announced Kigali, Rwanda, as the Host City for its 2023 conference and awards.

The announcement was made in conjunction with the Rwanda Convention Bureau during the AWIEF2022 event recently held in Cairo, Egypt on 26 and 27 September.

The AWIEF2023 conference venue has been confirmed as the Kigali International Convention Centre (KICC), a landmark on the capital city’s landscape.

The official announcement was made after a very special and colourful host city reveal by a Rwandan delegation at AWIEF2022.

The delegation included Rwanda’s Ambassador to Egypt, H. E. Alfred Gakuba Kalisa; Esther Kunda, Director General, Innovation and Emerging Technologies, Rwanda Ministry of ICT and Innovation; members of the Women’s Chapter of Rwanda’s Private Sector Federation and representatives of the Rwanda Convention Bureau.

Ambassador Kalisa told delegates in Cairo: “We are all here grateful and honoured by the decision of AWIEF to hold its annual meeting next year in Kigali. Under the leadership of His Excellency President Paul Kagame, Rwanda has placed gender equality as a key plan of our governance.

“However, women remain largely represented in the informal sector, in micro-enterprises. Elevating this large segment of our productive population into the formal sector would require sustainable, technological and financial efforts by all stakeholders and the continued strong advocacy of AWIEF.

“Please rest assured that the Rwandan government through the Rwanda Convention Bureau will ensure that your stay in Kigali is enjoyable and productive.”

AWIEF Founder and CEO Irene Ochem said: “Kigali is one of the most exciting cities in Africa right now and is a significant hub for business, technology and innovation on the continent. Rwanda is also at the forefront of gender equality and inclusion in governance and business leadership. It is an ideal country to host the high-level and dynamic discussions about women economic empowerment, entrepreneurship, investing, technology, and innovation in Africa that are the hallmarks of an AWIEF conference.”

Going into its ninth year, the award-winning annual AWIEF conference is one of the continent’s leading innovation and entrepreneurship events.

The conference brings together senior government leaders, entrepreneurs, start-ups, thought leaders, policymakers, international development partners, investors, CSOs, academia, and media for dialogue and discussions on issues of women empowerment, entrepreneurship, investing, technology, and innovation in Africa.

The more than 60 global speakers at AWIEF2022 included H. E. Dr. Monique Nsanzabaganwa, Deputy Chairperson, African Union Commission, H. E. Dr. Rania A. Al-Mashat, Egypt’s Minister of International Cooperation, H. E. Ms. Nivine El-Kabbag, Egypt’s Minister of Social Solidarity, Solomon Quaynor, Vice President, Private Sector, Infrastructure and Industrialization, African Development Bank, Maya Morsy, President, National Council for Women, Egypt, Elena Panova, UN Resident Coordinator, Egypt, Jackie Jones, Director, Gender Equality Division, Bill & Melinda Gates Foundation, and Izabela Milewska, Digital Skills Global Leader, Amazon Web Services.

October 24, 2022
AVCA hosts maiden Sustainable Investing in Africa Summit in London

The African Private Equity and Venture Capital Association’s (AVCA) inaugural Sustainable Investing in Africa Summit opened in London yesterday, convening over 150 key private equity and venture capital stakeholders from around the globe. The event championed the industry’s growth and evolution, key players, and collective action required to increase investment in equality, diversity, and Africa’s new green economies.

Abi Mustapha-Maduakor, Chief Executive Officer, AVCA, opened the summit by setting out the imperative to pair private capital with purpose, describing it as an area where “African investors have been paving the way on sustainable investing for decades”. Concluding the opening address, she also announced that AVCA will be partnering with the Tony Blair Institute for Global Change to produce a comprehensive report that maps Africa’s climate policy landscape and the level of green investment from the private capital industry being channelled to the continent’s 54 economies.

The panel, Profiting from Parity: Closing Africa’s Gender Gap saw participants including Anne-Marie Levesque, Director, Gender & Impact Management, FinDev Canada consider the unique opportunities that the continent presents for gender-lens investing. Despite suggesting that gender and diversity finance should not be limited to women-led businesses, Matthew Davies, Chief Executive Officer, Renew Strategies said: “It’s important that our industry is intentional about ensuring that female-led businesses are provided the capital they need to succeed. We need to achieve at least 50% parity before 2030.”

‘Tokunboh Ishmael, Co-Founder and Managing Director, Alitheia IDF and Lindsey Wallace, Senior Vice-President, Strategy & Impact, Mennonite Economic Development Associates, pledged to leverage their convening power to ramp up investment for gender and diversity finance across the continent. Commenting on the evolution of gender-lens investing, Ishmael said: “We need to move from billions to trillions, and integrate net-zero commitments with this mission.”

A session unpacking the rise of sustainable investment platforms marked a focal point of the day. During the panel, Africa at the Forefront of Sustainable Investing Globally, Wale Adeosun, Founder & Chief Executive Officer at Kuramo Capital, highlighted the DFI’s anchoring role investing in Africa from as early as the 1970s. He also advocated for GP-LP strategies to back the creation of novel technologies and industries for the next generation.

Karima Ola, Partner, LeapFrog Investments, described how the popularisation and evolution of impact investing has been characterised by developing the DFI toolkit towards “intentionality” to solve local priorities, generating sustainable returns and opportunities with businesses. Ola and fellow panellists shared success stories involving the presence and performance of sustainable investing in Africa compared to insights from other emerging markets. Alison Klein, Manager Private Equity, FMO commented on Africa’s just transition and suggested that “Climate intention does not mean we can’t finance expansion in job creating sectors. It is important we develop a holistic view and utilise synergies that improve resource efficiency and economic output such as manufacturing, for example.”

These perspectives were followed by a session where next-generation founders, entrepreneurs, impact investors, and philanthropic players advancing sustainable growth across the continent discussed challenges and practical solutions for investing and innovating for social change. Panellists on the Sustainability In Practice panel included Frank Aswani, Chief Executive Officer, African Venture Philanthropy Alliance. He raised the importance of mobilising local pools of capital through innovation with financial instruments to support high-potential markets in Africa at a time of global uncertainty and instability.

During the panel Digitalisation: The Last Mile in Unlocking Sustainable Development, Shruti Chandrasekhar, Regional Lead, Africa, Disruptive Technologies & Funds, International Finance Corporation discussed the prospects of an emerging circular economy on the continent, and advised that a “unique aspect of Africa means that we’re not only fixing something that already exists but building something new and recognising that the most productive way to do that is to integrate sustainability into solutions”.

At the Financing Africa’s Climate Transition: Mitigation & Adaptation panel, Tariye Gbadegbesin, Managing Director & Chief Executive Officer, ARM Harith, drew the delegates’ attention to the need to define an adaptation framework and the feasibility of a co-benefits approach that yields outcomes in both climate change mitigation and adaptation. The panel also explored how international investment can be applied to co-investments that encourage domestic capital and support the entry of institutional investors, including pension funds, now increasingly moving into Africa’s impact space.

The Making Impact Meaningful panel assembled high-level voices from DEG, Meridiam, UN PRI, and WHO Foundation to debate how the industry can overcome greenwashing to establish detailed and context-specific metrics for sustainable investing that unify diverse approaches to how stakeholders in the private capital industry can monitor and measure social and environmental impact.

The closing session saw industry figures such as Adam Hadidi, Founder & Managing Director, BluePeak Private Capital, reflect on how collective efforts such as GP-LP structures, green bonds, and digital and crowdfunding platforms can be deployed to maximise sustainable investing. Opuiyo Oforiokuma, Senior Partner, Africa50, concluded: “Africa cannot ignore climate change simply because we are only responsible for 4% of global emissions. Asset recycling in green assets can be used as a mechanism to bring in more capital in green infrastructure”.

October 21, 2022
Indrive’s BeginIT project trains underserved kids on IT skills

BeginIT, a social educational project spearheaded by inDrive, has completed a one-day training program for less privileged children in Nigeria with Information Technology (IT) skills.

The BeginIT program is an initiative from inDrive targeted at identifying and providing future career guidance for capable children from orphanages, boarding schools, and rural schools in the sphere of new technologies.

Thirty-three students drawn from 3 schools owned by not-for-profit organizations were groomed on different technologies, including Embedded Systems (Physical Computing with Arduino kit).

At the end of the session, the students presented projects to demonstrate their ability to identify solutions relative to transportation in their environment.

In his remarks, the Director of Transport Operations, Lagos Ministry of Transportation, Olasunkanmi Ojowuro, who represented the Lagos State Commissioner for Transportation, commended inDrive for the initiative, which he said would go a long way to bring about innovations needed to transform not only the transportation sector but other sectors in the state.

“Whatever you learn here today, make sure you take it seriously because the more you understand, the better for us all. So, it is good to seize this opportunity as kids so that Nigeria can match up with technological advancement as it is in many developed societies. For instance, transportation has changed from what we witnessed in the past. Now, we use technology to manage transportation,” he said.

Speaking on the theme, “inDrive: Future of Mobility”, InDrive’s BeginIT Representative & Driver Acquisition specialist, Mrs. Onuzulike Clementina, explained that the initiative, which has registered its presence in 15 countries, including Nigeria, is geared towards catching kids young in the field of technology to stimulate their problem-solving skills and prepare them for the future of work.

“We believe strongly in the potential of every child regardless of the circumstance of their birth. We feel they need to get the knowledge in time to ensure that they can compete with their counterparts in the developed world. This is why we have come up with an initiative to enable them to reach their potential”, Onuzulike said.

She stated that the training would further help to deepen knowledge around transportation and automobiles by helping to groom a new generation of engineers, designers and creatives.

Also speaking, the Programme Associate, STEMCafe, Daye Omona, stated that the organization was partnering with inDrive on the initiative to impart the kids by implementing a STEM-based program focused on the future of transportation.

According to Omona, the training session would afford the kids the opportunity to learn concepts such as design thinking, conceptualization, and working with microcontrollers and sensors necessary to create, for example, a driverless car or blue tooth control boat.

The list of not-for-profit institutions that participated in the session includes Amazing Grace, Precious Jasper Foundation and Mayzer Memorial Foundation.

October 10, 2022
NCC, NLRC inaugurate committee to strengthen consumer protection

The Nigerian Communications Commission (NCC) and the National Lottery Regulatory Commission (NLRC) on Thursday in Abuja set up a committee to work toward the protection of the interest of telecom consumers against malpractices that may attend mobile lotteries in the country.

The Committee, which was inaugurated at the NCC Head Office in Abuja, was tasked with the responsibility of articulating measures to address mutual regulatory issues, including the review of revenue-sharing formula between Mobile Network Operators (MNOs) and lottery operators.

The NCC’s Executive Commissioner, Stakeholder Management (ECSM), Barrister Adeleke Adewolu, who presided at the meeting comprising senior staff of the two agencies, recalled fondly previous engagements between the agencies and stated that the committee was important in order to review and update an NCC-NLRC Memorandum of Understanding (MoU), which was signed on the 6th of August 2018 but has now expired.

The ECSM said the Commission is committed to regulatory collaboration and strategic partnerships and has carefully reviewed NLRC’s requests and is convinced that both organisations can conclusively address issues and other concerns that have been identified in the operation of lotteries in the telecom industry.

“We expect that the Joint Committee of senior members of staff in both organisations will work closely to develop a collaborative framework to progressively improve gaming service delivery for telecoms consumers and further accelerate holistic development in Nigeria’s digital economy,” Adewolu stated.

In addition, the ECSM reiterated that the Committee is expected to articulate a new MoU to address issues around revenue sharing between MNOs and lottery operators, the need to review and recommend a workable model for addressing the needs of both organisations, and present informed recommendations to deepen regulatory collaboration between the two regulatory agencies.

“Given the strong professional pedigree of the members of this Joint Committee, I have no doubt that they will meet and even exceed the expectations of the Managements of both the NCC and the NLRC, and I wish you all success in this task,” Adewolu added.

Speaking on behalf of the Director-General, NLRC, Lanre Gbajabiamila, the Director, Legal Services, NLRC, Olayemi Ajayi, expressed her organisation’s commitment to improving revenue generation from the lottery industry while appreciating NCC for being receptive to inter-organisational collaborations.

Ajayi reiterated the need for renewal of the expired MoU with amendments to accommodate new provisions that will be favourable to stakeholders and fast-track the development of Nigeria’s digital economy.

Ajayi assured that, “The NLRC is working tirelessly to ameliorate its functions and service delivery to stakeholders. Therefore, this renewed collaboration with NCC will help for better and efficient service delivery by both agencies.”

September 30, 2022