BY: Akesh Lalla [SAS Country Manager]
Data is key in helping to deal with the impact of Covid-19 and intelligent systems can help organisations allocate resources more efficiently.
This pandemic has impacted the world, affecting multiple sectors on a global scale.
Being able to respond quickly to managing the impact of the virus has been challenging for both the public and private sectors, but Covid-19 modelling can optimise resource allocation.
Combating a global fight
To assist our public and private sector partners contribute purposefully to combating a global fight, SAS approached the disruption of Covid-19 by dividing it into three phases.
In the Response Phase, we provided rapid data management for partners, enabling them to look at a situational analysis within their unique environments like supply chain disruptions.
This allowed them to respond and adjust accordingly in areas such as capacity planning, in preparation for disruption.
The Recovery Phase assists partners to go back to familiar processes in unfamiliar environments, modernising their operations within that new normal. This allows them the ability to adapt in areas such as changes to their supply chains.
The Reimagined Phase assists partners in preparing their organisations for the future by planning for new operational models in areas such as virtual communication.
Insights have local impact
Covid-19 is a worldwide healthcare problem that has local impact. Following our Health Minister’s comment that we are now in the eye of the storm, being able to use technology to manage resource allocation is more important than ever and data can help us all.
Insights on the regional impact of non-pharmaceutical interventions during this time, such as social distancing, closing non-essential businesses and schools, is also helpful. Local monitoring is critical because it allows for resource allocation and resource planning.
Our modelling techniques are important to identify not only the magnitude of the impact, but also where our partners are placed within the impact zone. International collaboration is especially vital during a pandemic, assisting our partners to identify what needs to be done within their unique environments to mitigate risk and optimise value.
Software for all scenarios
To identify meaningful trends in the global fight against a pandemic, our outbreak analysis sits at the crossroads between public health planning, field epidemiology, methodological development, and information technologies.
In the case of combating Covid-19, medical resource optimisation means creating optimal operations to maximise impact at a sustainable cost. Our software achieves this by building models on contact tracing and infection chains, for instance, through various information sources, including incorporating telecom data.
Our software generates data that serves partners at all levels of industry, helping them to identify disruptions, anticipate disruptions in their supply chains and forecast demand planning.
Data analytics enable future preparedness
We do not know everything about this virus, but we can look at trends and apply artificial intelligence and data analytics. This uncovers new insights to deal with the impact, assisting partners to optimise resource allocation in view of future preparedness.
Since analytics is interconnected, our software creates risk models that enable partners to scenario plan. For various industries, worst-case, best-case, and average-case scenarios can be built to help organisations allocate resources more efficiently.
Covid-19 may very well be the first of many pandemics and the ability to scenario plan could literally save lives.
We are proud of the work we have done, in collaboration with other great minds, during this extraordinary period in our collective history. Our aim is to make analytical capabilities available to extract useful insights for societal good.
Our hope is that data-driven decisions can lead the way in saving lives, reopening society, and identifying where the next hotspots are, while combatting Covid-19.
MarketWatch: Can gold mining support Nigeria’s economy?
BY: Lukman Otunuga [Senior Research Analyst at FXTM]
Stratospheric Gold prices and spiritless Oil prices would seem to indicate that the state’s investment in Gold mining is a timely and positive one.
Amid the COVID-19 pandemic, Gold remains a market-moving and safe-haven asset after spot prices hit all-time highs above $1981 in July. The precious metal appreciated almost 30 percent for the year-to-date and is roughly $50 away from $2000 at the time of writing.
Gold draws strength from fundamentals
There are several factors over-and-above the COVID-19 disease that are supporting Gold prices.
Safe-haven buying triggered by fears over tense US-China relations has boosted the metal’s spot and futures prices.
In recent events, the US closed one of its six consulates in China and a Chinese consulate in Houston was closed, raising questions about whether the second phase of trade talks can make any constructive progress.
In addition, the Dollar’s weakness due to low yields on Treasury bonds and exposure to negative COVID-19 sentiment has prompted investors to favour Gold over the USD.
So far this year, the Federal Reserve has followed a dovish approach as fears mount over a second wave of COVID-19 hampering an economic recovery.
Nigeria’s new Gold reserve
For the first time, Nigeria has refined its own reserve Gold bar and paid N268 million for the 12.5 kg bar to start a central bank stock, shining a bright spot amid all the economic headwinds.
Given the previously-mentioned support factors for the precious metal’s prices, Nigeria’s new Gold reserve comes at a promising juncture for the country’s emerging mining industry.
It is also an encouraging development in the diversification of the national economy which the government hopes could lead to a stronger job market. If well harnessed, Gold mining and trading has the ability to potentially generate more revenue than crude Oil for Nigeria.
Looking at the mathematics
The underlying maths in Nigeria’s Gold market show strong potential
Nigeria’s Gold reserve is estimated at 200 million metric tonnes, according to the Nigeria Mining Growth Roadmap. Meanwhile, Trading Economics places Nigeria as the six largest country with Gold deposits in Africa, with an average of 21.46 tonnes from 2000 to 2019, reaching an all-time high of 21.51 tonnes in July 2019. The nation’s current estimated Gold reserves are over 200 million ounces, most of which have not been exploited.
The newly-regulated Gold mining sector is expected to create 250,000 new jobs and provide the Federal Government with an additional estimated annual revenue of $150 million in taxes, $25 million in royalties and $500 million in foreign exchange reserves.
These positive developments in the Gold mining and central bank reserve initiatives may help to improve investor sentiment against the background of COVID-19, low Oil prices and the expectation that Nigeria’s economy could contract by anything from three to six percent this year.
We must also factor in another hit to export earnings caused by the deeper cuts imposed by OPEC on Nigeria and Iraq due to overproduction.
In conclusion, a well-managed diversification into precious metals mining and building a national Gold stock can support the central bank’s foreign exchange reserves long term, as well as boost other wider types of Gold trading like derivative investments and mining stocks.
However, care must be taken to protect the new sector’s reputation and government regulations would need to be seen as enforceable for long-term credibility.
4 ways to ensure your business software provider is doing all it can to protect your data
BY: Andrew Bourne [Regional Manager, Africa, Zoho Corporation]
In the past few years, privacy breaches around the world have made technology users conscious about the way their data is being used. You only need to look at the growth of privacy-centric products like search engine DuckDuckGo to see how mainstream privacy awareness has become.
But data privacy issues don’t just affect private individuals. They can have a massive impact on businesses, with the average data breach costing in excess of US$3.8-million.
Surveillance companies, which rely heavily on showing ads to survive, collect user information even from adjunct properties (such as websites of service providers) without users’ permission. B2B companies frequently use products and services from these surveillance companies, giving them access to their users’ data.
What can you do to ensure that you find a business software provider that doesn’t drag you into this trap?
1. Ensure they don’t allow third-party trackers
Many business software providers use third-party trackers that allow them to study their website visitors. However, the apps they use to track them use that data to sell ads. This is known as adjunct surveillance.
With the upcoming macOS Big Sur update, it will be easier for users to know which websites are tracking them.
When it comes to choosing a software solution for your organisation, look for the ones which entirely block third-party companies across all their properties. Another thumb-rule is that vendors who have ad-based revenue model, are dependent on selling your data so it’s best to avoid them, if you are serious about protecting your data.
2. Look for regulatory compliance
While governments around the globe have generally been slow when it comes to enacting protective legislation, they have made up ground in recent years.
In South Africa, for instance the Protection of Personal Information Act (PoPI) recently came into effect, while the European Union’s General Data Protection Regulation (GDPR) has been so since May 2018.
While being able to demonstrate compliance is by no means a guarantee that your business software provider will protect your data, it shows that they at least have basic privacy and security structure in place.
3. Regular communication around data protection
One of the most powerful tools any organisation has at its disposal when it comes to data protection is user education. The data and security landscape is, after all, evolving constantly and your business software provider needs to be on top of that.
If your provider is educating you on the latest data threats, it’s a powerful demonstration that it cares about you keeping your data secure. Moreover, a provider that empowers its clients in this way is a good indicator that it’s doing everything on its end to protect your data too.
4. It’s honest about its revenue streams
In the business software space, the old saying about cheap being expensive can be further extrapolated to “free can prove really expensive”.
If a service is free, think twice before using it in your organisation (no matter how much money you think it might save). Rather look for providers which at least have some form of paid product. This means they’re much less likely to depend on ad-revenue and therefore expose your data to other parties.
Over the past few years, millions of words have been devoted to talking about how valuable user data is. Because of the value, we have probably swung too far when it comes to surveillance and harvesting.
It’s time to swing in the other direction. You should always own your data and, far from selling it, your business software provider should be doing everything in its power to protect it.
About the writer:
Andrew is Zoho‘s Regional Manager for the Africa region and is based in Cape Town, South Africa.
He has more than 15 years of experience in sales and marketing, and has spent the last five years focusing on the implementation and testing of various business technologies.
He is very passionate about Zoho and has exceptional insight into the business and marketing world.
Vox Pop: Is the NIPOST license fee increment a positive move?
It emerged on Saturday, July 25 that the Nigerian Postal Service (NIPOST) was introducing new regulations for the logistics and courier service industry in Nigeria.
Tasked primarily with postal services in Nigeria, NIPOST also has the right to regulate the courier and logistics under the monitoring of the Ministry of Communications and Digital Economy.
Under the proposed new regulations, courier and logistics services are supposed to pay the following fees for registration:
Logistics companies operating at the national level will pay N10 million for license and N4 million yearly.
Logistics companies operating within regions will pay N5 million for license and N2 million annually.
Logistics companies operating within states will pay N2 million for license, and N800,000 for annual renewal.
Logistics companies operating within the Municipal area will pay N1 million for license and N400,000 for renewal annually.
After the reports emerged, there was an uproar on social media platforms with many Nigerians calling the move insensitive.
Following that, Techeconomy’s Saviour Adugba sampled the opinions of Nigerians on the recent move by NIPOST. Excerpts are below:
Chidera Obiora, Lawyer:
“This is appalling. One thing about most of our government policies is that they keep trying to copy taxation ideologies of sane countries but totally ignore the tactics and plans these countries have put in place to develop their countries. This government has proved that they have no economic plans for the citizens. It will be a disaster to many logistic companies of this tax is implemented because many of them are still struggling in their businesses and I don’t think many of them can afford that fee”.
Cecilia Ogunduyile, Student:
“I was really shocked when I got the information. To be candid, how much are these logistic companies even making per annum for NIPOST to think of punishing them with such a crazy courier license increment. I guess NIPOST is on a mission to push many of these courier service organisations out of business.
John Chisoba, Writer:
“So many of these tax collecting government institutions are nothing but a group of plundering rogues. To what good is the increment going to be for the common Nigerian man. It is one thing to regulate private courier services another thing to make them redundant with outrageous fees and taxes. If we may ask, have they come out with any reasonable blueprint on how the taxes will be used towards developing courier services in Nigeria?
Blessing Enenaite, Entrepreneur:
“If NIPOST has done well in its duties, they would have been an active competitor to the private courier services which would have gone a long way in making the logistics industry more developed but that is not the case. NIPOST has decided to be a parasite doing nothing but feeding on the sweats and industriousness of private courier organisations. This tariff increase makes no sense and must not be allowed to see the light of day.
Kolade Olaniyan, Real Estate Consultant:
“Many Nigerian private organisations including courier service providers are still trying to adjust to the economic disruptions caused by the Covid 19 pandemic. It is really unfair for such an outrageous increment to be placed on these private investors. The government is supposed to ease the pressure off their shoulders rather than inflict more pressure on them.
Onyeka Chiemele, Teacher:
“NIPOST should think of a more sensible way to regulate the courier industry. NIPOST is supposed to be a force to reckon w with in the haulage and courier service sector but mismanagement and corruption has rendered it almost useless. While the private courier services are making strides, NIPOST has been more of a plague. The increment on courier taxes and fees is ludicrous.
Augusta Osamor, Journalist:
“It is evident the Government Treasury is no longer boisterous and the price of oil has fallen drastically. The only way they can generate revenue is to tax its citizens. The proposed increment on logistics companies by NIPOST should be discouraged and prevented from being implemented because I see it as outright robbery.
David Amuge, Content Creator:
“This is a very absurd and insensitive decision by NIPOST. Many businesses are currently struggling to stay afloat and the increase in courier operation fees is baseless. While other countries are granting tax rebates to encourage businesses to grow, businesses are being suffocated with exorbitant taxes and charges. I think NIPOST executives need to be investigated and made to account for reasons being suggesting such outrageous fees and they need to tell the public what they intend to do with the new tariff if implemented.
Prof. Sodiyda gives five reasons IT professionals should attend “EATI’ 2020”
Ighalo, Victor Moses on centre stage as Europa League resumes on StarTimes
OPPO Mobile unveils OPPO A92: Here are the powerful features Nigerians will enjoy
FirstBank is promoting growth of banking technology in Nigeria via Fintech Summit 4.0
OPPO unwraps OPPO A92 in Nigeria
Meet the Nokia Maze Pro Lite
Fahim Saleh: Gokada CEO gruesomely murdered in his New York apartment
Reps uncover clauses conceding Nigeria’s sovereignty to china in $400m loan for Galaxy Backbone NICTIB II, others projects
Dr Eugene Ohu, a faculty at Lagos Business School wins $234,000 grant for virtual reality research
Mohammed Jega appointed WBAF International Partners for Nigeria
Finance6 days ago
Reps uncover clauses conceding Nigeria’s sovereignty to china in $400m loan for Galaxy Backbone NICTIB II, others projects
Travel & Postal1 week ago
Pantami intervenes as Nigerians blast NIPOST over outrageous licensing, renewal fees
Travel & Postal1 week ago
ANCO calls for calm, dialogue amid protests against NIPOST over new licensing fees
Unboxing7 days ago
The Unboxing of the Latest Battery King-TECNO Pouvoir 4 Pro