Stanbic IBTC Holdings, a member of Standard Bank Group, has shared some of its latest findings from the Africa Trade Barometer 2023 Issue three report.
The report, which assesses key economic indicators in Africa highlights several noteworthy developments across African countries.
According to the latest Africa Trade Barometer, Nigeria has moved up four positions from 8th to 4th in the country rankings.
The recently launched and highly anticipated Africa Trade Barometer provides valuable insights into Africa’s trade dynamics and opportunities.
This edition highlights Nigeria’s significant role in shaping the continent’s trade landscape, comprehensively analysing its current state and prospects.
The index rankings are based on seven thematic categories, including trade openness, access to finance, macroeconomic stability, infrastructure, foreign trade, governance economy, and trade financial behaviour.
Changes in a country’s ranking are driven by changes in their aggregate score and relative ranking against other countries. Rankings are relative to the ten countries in the index and pegged on a scale of 0 -100.
South Africa has the highest Tradability Index, while Angola has the lowest. Nigeria’s improvement in the Trade Barometer ranking is due to advances in the Quantitative Trade Barometer (QTB) and Survey Trade Barometer (STB) rankings.
The country moved up from position 7 to 4 in the Standard Bank (SB) QTB ranking and from 8 to 5 in the SB STB ranking.
This achievement is attributed to significant improvements in business confidence scores, ease of access to credit, and government support for trading activities.
The report also deeply examines Nigeria’s export and import statistics, showcasing its major trading partners and critical industries.
By analysing the country’s trade policies and emerging trends, stakeholders gain a holistic understanding of the Nigerian market and its growth potential.
One of the critical areas of focus within the report is identifying challenges Nigerian businesses face in international trade.
Source: Africa Trade Barometer 2023 report
It delves into infrastructure gaps, regulatory complexities and logistical bottlenecks; consequently offering insight into strategic measures taken by the Nigerian government to address these issues and enhance trade competitiveness.
The 2023 African Trade Barometer highlights the policies and initiatives implemented by Nigeria to attract foreign direct investment (FDI) and promote trade diversification.
The report explores investment opportunities in sectors such as agriculture, manufacturing, technology, and renewable energy, providing a valuable resource for local and international businesses seeking to expand their operations in Nigeria.
“We are excited about this comprehensive report, specifically focusing on Nigeria, which plays a pivotal role in African trade,” said Wole Adeniyi, Chief Executive, Stanbic IBTC Bank.
Stanbic IBTC Bank Survey Trade Barometer (SB STB) scores by country:
Source: Africa Trade Barometer
“Through our detailed analysis, we provide stakeholders with a deep understanding of Nigeria’s trade landscape, the challenges, opportunities and potential for growth. This report will contribute significantly to Africa’s overall trade narrative,” Wole said.
The 2023 African Trade Barometer is a valuable resource for policymakers, investors, entrepreneurs and researchers interested in unlocking the potential of Africa’s trade ecosystem.
By shedding light on Nigeria’s trade dynamics, this report guides informed decision-making, enabling stakeholders to engage effectively with the Nigerian market.
The milestone event brought together a staggering 20,000 attendees from over 20 countries, including Nigeria, for two back-to-back conventions in September.
In line with the company’s commitment to promoting a healthy lifestyle and reducing its environmental impact, QNET launched two standout products at the anniversary conventions.
QNET Celebrates 25 Years with Epic Global Event
Homepure Nova with Pi-Plus Cartridge – An enhanced version of the company’s bestselling HomePure Nova 9-stage water filtration system, which promises improved hydration and fortified antioxidant benefits in your drinking water.
Bernhard H Mayer OMNI Watch Collection – A new range of Swiss timepieces crafted with eco-friendly materials certified by LEED (Leadership in Energy and Environmental Design), proving luxury and sustainability can go hand in hand.
The five-day conventions provided a valuable platform for QNET’s customers and distributors to deepen their product knowledge, engage with experts, and experience dynamic product demonstrations.
Attendees also benefited from business-building training sessions, learning opportunities from accomplished distributors, and insights into industry knowledge.
The events were further enlivened by guest appearances from Bollywood celebrities and performances by international entertainers.
Demonstrating its commitment to sustainability, QNET implemented several eco-conscious initiatives during the conventions to reduce carbon footprint.
From partnering with environmentally responsible vendors for booth constructions, eliminating single-use plastics, minimising printed materials through digital alternatives like QR Codes, to distributing purchases in reusable bags made from eco-friendly materials, every facet of the event embodied sustainability.
QNET’s venue of choice, the Setia SPICE Convention Centre in Penang is the world’s first hybrid solar-powered convention centre and is also Green Building Index certified.
The centre has also implemented initiatives such as bottling drinking water in-house, waste segregation, and rainwater harvesting to support its net zero goals.
In a further step towards environmental stewardship, QNET has pledged to plant 2,500 trees in Malaysia, to offset the event’s carbon footprint.
“We are immensely proud of the empowering ecosystem we’ve nurtured, grounded in our core philosophy of RYTHM—Raise Yourself To Help Mankind. As we commemorate this significant milestone, we also cast our eyes forward to a future filled with promise and potential. With our commitment to innovation, sustainability, and global community-building, QNET is poised to not only adapt but thrive in the dynamic landscape of wellness and lifestyle, offering unparalleled opportunities for entrepreneurship and personal development to individuals around the world. Here’s to the next chapter of impacting lives positively and promoting holistic wellness, as we continue this remarkable journey together,” stated Malou Caluza, CEO of QNET.
QNET Celebrates 25 Years with Epic Global Event
More about QNET
QNET is one of Asia’s leading e-commerce-based direct-selling companies offering a wide range of health, wellness and lifestyle products that enable people to lead better lives. In 2023, QNET celebrates 25 years since it first introduced its grass-roots business model and high-quality products that has helped empower millions of entrepreneurs in more than 100 countries worldwide. QNET is headquartered in Hong Kong and has a presence in more than 25 countries around the world through subsidiaries, branch offices, agency partnerships, and franchisees.
QNET is a member of the Direct Selling Association in several countries, as well as the Hong Kong Health Food Association and the Health Supplements Industry Association of Singapore, among others. QNET is also active in sports sponsorships around the world. Some of the more prominent partnerships include being the Direct Selling Partner of Manchester City Football Club and the Confederation of African Football (CAF).
Aminu Maida (Dr.) was appointed the Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC) by President Bola Tinubu, on Wednesday, October 11, 2023.
Dr. Maida holds an MEng in Information Systems Engineering from Imperial College, London in 2002, and in 2006, he bagged a PhD in Electrical & Electronic Engineering from the University of Bath, United Kingdom.
Between 2018 and 2019, Maida completed a Post Graduate Diploma in Entrepreneurship (FinTech Pathway) program at the Cambridge Judge Business School, University of Cambridge, United Kingdom.
Until his latest appointment by the President, Dr. Aminu Maida was the Executive Director, Technology and operations at Nigeria Inter-Bank Settlement System Plc., (NIBSS), the country’s central switch company owned by the Central Bank of Nigeria (CBN) and all licensed Deposit Money Banks (DMBs) in Nigeria.
At NIBSS, Dr. Maida was responsible for holistically spearheading the technical and operational standardization of all devices deployed in the financial system in Nigeria for interoperability. Maida led a dynamic team that ensured that all terminals used in the e-payment industry and all devices deployed in Nigeria would accept all cards issued by banks and other licensed card schemes without discrimination.
Prior to his appointment at NIBSS, Maida was the Chief Technical Officer (CTO) at the Nigerian-based FinTech Arca Payments Network and Senior Manager at Cisco Systems, United Kingdom.
As a seasoned technical professional with over 15 years of multi-functional and international experience in FinTech & Telecoms & Enterprise Technology, Maida between 2010 and 2014, worked as a Network Design Consultant at EE, part of BT Group, and one of the largest mobile communications companies in the UK.
He was also at some point (2006-2010) a System Engineer at Ubiquisys, a leading company in intelligent 3G and LTE small cells, which is now part of Cisco.
Dr. Maida, a professional par excellence with a broad range of experience, making him technically strong and commercially aware, is married with children.
Expand North Star 2023 accelerates global VC investment revival as deep tech game-changers choose Dubai as launch-pad for global growth. Record number of Indian start-ups to converge at four-day event’s new iconic Dubai Harbour venue.
India’s burgeoning entrepreneurial spirit and proliferation of next-gen deep tech talent will take centre-stage next week in Dubai, as the world’s largest start-up event prepares to host the biggest showcase of Indian start-ups ever seen outside the south-central Asian nation.
Hosted by Dubai Chamber of Digital Economy, one of the three chambers under the umbrella of Dubai Chambers, Expand North Star 2023 together will feature more than 1,800 exhibiting start-ups from 100-plus countries at its new Dubai Harbour venue from 15-18 October.
This includes 200 breakthrough Indian companies choosing the emirate as their launchpad to scale up globally.
From international award-winning Google accelerated gaming innovators, to producers of de-carbonised protein for the US$500 billion animal feed industry, game-changers from the world’s third-largest start-up ecosystem are gathering in Dubai to woo investors and secure customers for global expansion.
Sustainable Agri-tech the formidable foundation of future commerce
Among the pioneering start-ups at Expand North Star’s new India Central feature is Noval Sustainability, which is launching DE-Carbon, an animal feed protein recycled from waste that, according to Founder Siva Sanker, is formulated to substantially reduce the environmental footprint of the carbon-heavy feed and meat industries.
“We will showcase the tech behind recovering protein from waste,” said Sankar, who will demonstrate at Expand North Star how Noval Sustainability’s manufacturing process decarbonises one of the world’s largest and most-polluting industries.
“The world wastes more than 30 percent of the food that is produced, and the same ratio holds for the amount of proteins wasted from meat consumption. We are bridging the gap with a solution, and there’s a humongous untapped economic value in this waste. With an inclusion of just one percent of alternative proteins in animal feed, we’re looking at a US$500 billion industry.”
Scaling-up through deep tech immersive gaming
Elsewhere, investors in the US$300 billion gaming industry will see a fresh injection of deep tech gaming platforms, spearheaded by Tuttifrutti Interactive’s Sophia’s Adventures fantasy themed game that uses cinematic quality Unreal 5 Nanite technology.
Ajish Habib, CEO of Tuttifrutti Interactive, a Google-accelerated, Epic Games Mega Grant recipient, and winner of 15 international awards, said Sophia’s Adventures alpha version will redefine the female gaming market, propelling the company, and potential seed angel investors, to exponential growth.
“With its official launch for Sony PlayStation and VR2 market, Tuttifrutti will grow a minimum four times by 2025, and with an upcoming half a dozen IP games, we’ll scale-up over 165 times by 2028, targeting revenues of US$80 million,” said Habib.
“Immersive game tech coupled with AI and deep tech will revolutionise the gaming market, and we’re leveraging AI in all aspects in our product development, from designing game emotions, and fine-tuning design, to marketing, and customer acquisition.”
Unveiling growth roadmaps
Manifested through its power-packed conference programme, Expand North Star will present key Indian unicorn founders will unveil the critical global growth path to unstoppable success.
Headliners include Bhavish Aggarwal, CEO & Co-Founder of Ola Cabs & Ola Electric, India’s largest ridesharing company with over 1.5 million drivers; and Abiraj Singh Bhal, CEO & Founder of Urban Company, a Series F $2.8 billion company offering the largest home services platform in India and UAE.
Expand North Star’s 10X Stage will also feature Rajan Anandan, Managing Director of Peak XV and Surge, a rapid scale-up programme for start-ups in India and Southeast Asia. Anandan is focusing on developing Surge into the world’s top scale-up programme for start-ups by acting as an investment advisor and mentor to the programme’s founders. He will share his visions for India’s booming start-up ecosystem for 2023 and beyond.
Forging deep cross-border economic ties to accelerate growth
Ballooning to nearly double that of the previous year, Indian participation at Expand North Star 2023 comes as the UAE and India continue to amplify bi-lateral trade and investment opportunities.
Under the Comprehensive Economic Partnership Agreement, the UAE and India plan to double the value of non-oil trade from 2023 to 2030, reaching US$100 billion.
According to Dubai Chambers, 30 percent of the emirate’s start-ups are Indian-owned, while 83,000 Indian companies are registered in Dubai. Indian firms and non-resident Indian owned entities have also created more than one million UAE jobs.
Expand North Star 2023 will intensify these achievements, convening more than 1,000 tech investors and Venture Capitalists from 70 countries with US$1 trillion of capital to inspire, and scale-up the world’s most sought-after start-ups.
Expand North Star is the powerhouse start-up event inspired by GITEX GLOBAL, the world’s largest tech show, which takes place from 16-20 October at the Dubai World Trade Centre (DWTC).
The blockbuster duo, organised by DWTC, are spearheading the world’s biggest tech takeover in Dubai, spanning 2.7 million sq. ft. of exhibition space – a 40 percent increase over the previous year.
Airtel Nigeria, in collaboration with business partners, Amazon Web Services (AWS) and AVAYA, hosted an exclusive interactive breakfast session aimed at engaging, educating, and exploring the vast possibilities within the Telecoms and ICT sphere, on Wednesday 11th of October 2023, at the prestigious Fraser Suites in Abuja.
The event themed ‘Modernization and Digitization’ was a dynamic gathering, bringing together industry experts, thought leaders, and key stakeholders together in a session where participants had the opportunity to engage in insightful discussions, and thought-provoking presentations led by various teams of experts at Airtel, Avaya, and AWS, sharing knowledge on how businesses can collectively drive growth, innovation, and excellence within organisations.
Speaking at the event, Director of Airtel Business, Airtel Africa, Luc Serviant emphasized the company’s commitment to fostering collaboration and partnerships that drive progress and innovation. He highlighted Airtel Nigeria’s dedication to endowing the public sector through cutting-edge technologies, enabling transformative change on a national scale.
“At Airtel, we are happy to discuss connectivity, innovation & technology, digital pillars, cloud security, network services, digital insight and portfolio solutions for effective business within the public sector. As a reliable partner in proffering innovative and technological solutions, we operate beyond providing connectivity to producing solutions and so many systems such as our core connectivity, data centre, cloud security and other applications from our partners have been put in place to constantly meet the evolving needs of not only the private sector but the public sector at large,” he said.
Airtel further discussed several business solutions that are beneficial to both private organizations and public sectors.
Some of the services and products include the Leased Line, a product that allows business owners to own their personalized network service within the Airtel network with utmost security that cannot be hacked; the Global MRLS tailored to enhance connectivity for organisations that operate across various branches around the globe, the Multi-tenant building connectivity for high rise buildings that allows occupants to share cost which is a very profitable and economical approach to enjoying Airtel business products.
Also speaking on the need for the government to revolutionize and deliver seamless experiences through technology, Senior Solutions Architect, AWS, Stanley Anetoh, said,
“We are glad to collaborate with Airtel on this initiative, following the increasing rate at which citizens are now raising their expectations of government interactions with responsive and digitally connected services. It is safe to say that cloud technologies in particular are considered very important to facilitate most of the government’s key initiatives and we would be very glad to offer cloud support as such advancement is not restricted to the private sector alone.”
Representatives of the AVAYA team also discussed their various cloud services, powered by their partnership with Airtel’s data center connectivity.
Ogo Ofomata, Director, Airtel Business Nigeria, expressed satisfaction at the success of the interactive session.
“As a business, Airtel Nigeria is delighted to open these channels of engagement with key players in our industry and today’s event has proven that we are on the right track,” she said.
Airtel is committed to providing unparalleled solutions and services to its customers, and this event is just one of the many initiatives the organization has undertaken to reinforce its stand at the forefront of the Telecoms and ICT sector.
President Bola Tinubu, Wednesday approved the reappointment of Kashifu Inuwa Abdullahi as the Director General of the National Information Development Agency (NITDA), from 2023 to 2027.
Inuwa is one of the Chief Executives of Agencies under the Ministry of Communications, Innovation and Digital Economy, who are returned to office.
His reappointment was initially granted in January 2023 by former President Muhammadu Buhari who said he reappointed Kashifu Inuwa Abdullahi as DG of NITDA due to the agency’s remarkable successes.
As the Director General of NITDA, Inuwa has proved that Nigeria can be Africa’s largest digital economy.
Since ascending the leadership of NITDA in August 2019, there has been an impressive implementation of the Agency’s Strategic Roadmap for the development of Nigeria’s IT sector.
He has been steadily building upon the foundation laid by the previous occupants of that office, driving the Agency to fulfil its core mandate in consonance with the National Digital Economy Policy and Strategy (NDEPS) of the Federal Government.
To put Nigeria on a path to effectively operate a digital economy, NITDA, under the stewardship of Kashifu Inuwa mapped out a Strategic Roadmap and Action Plan (SRAP 2021-2024), identified by the Agency as the fulcrum digital economy development.
In his numerous public presentations, Inuwa has spoken extensively about the pillars captured in the SRAP, namely Developmental Regulation; Digital Literacy and Skills; Digital Transformation; Digital Innovation & Entrepreneurship; Cybersecurity; Emerging Technologies; and Promotion of Indigenous Content.
President Bola Tinubu has approved the appointment of Aminu Maida as the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC).
He takes over from Professor Umar Danbatta who has one and half years to the expiration of his second term as the chief telecom regulator in Nigeria.
Techeconomy gathered that Aminu Maida, until his appointment, worked as the Executive Director, Technology & Operations at Nigeria Inter-Bank Settlement System Plc (NIBSS).
A seasoned-technical professional with over 15 years’ multi-functional and international experience in FinTech & Telecoms & Enterprise Technology.
Prior to his appointment at NIBSS, Aminu was CTO at the Nigerian based FinTech Arca Payments Network and Senior Manager at Cisco Systems UK.
Aminu holds an MEng in Information Systems Engineering from Imperial College London and a PhD in Electrical & Electronic Engineering from the University of Bath UK.
Milhouse Energy Services Ltd, a coal mining firm at Awhum, Enugu State is to pay the sum of N1billion into the Enugu State Environmental Remediation Trust Fund, while also paying a N100,000 tax on every truckload of coal evacuated from a mining site at Awhum in Udi Local Government Area of the state.
The Fund will be transparently managed by an independent committee of professionals specifically for the remediation and healing of the affected environment.
Recall that the mining site was one of the many sealed by the Enugu State Committee on Review of Mining Activities headed by the Commissioner for Environment and Climate Change, Prof. Sam Ugwu, following a crackdown by the Governor Peter Mbah administration on illegal mining sites in the state, including those without environmental impact certification and remediation plans.
In addition, an Enugu State High Court also granted an interim injunction restraining Milhouse Energy Services and African Pits & Quarries Ltd, their agents, servants, privies, workers, among others, from “carrying on further activities, environmental degradation, damaging and interfering in whatsoever manner with the large expanse of land situate at Ibite Awhum”
However, following discussions with the state government, Milhouse Energy Services Ltd may return to site in earnest following an agreement with the Enugu State Government, which will see the company pay the sum of N1 billion for environmental remediation while also paying the sum of N100,000 as tax per truckload of coal evacuated from the site.
The company had mined and evacuated coal from the site since February 2022 without any payments or recourse whatsoever to the Government of Enugu State.
Sealing the site in September, Prof. Ugwu, Chairman of the Committee, said: “while the state is not contesting the fact that solid minerals are on the Exclusive Legislative List, we will not accept indiscriminate mining activities and degradation of our environment. We will not accept that people will enter our state and start carting away our resources without recourse to the Enugu State Government.
“So, we want to see the veracity of the license, which they claim they have from the Federal Government, and we have given them a letter inviting them to a meeting.
“We also want to find out how they have been remitting environmental fees to the Enugu State Ministry of Environment because we will not fold our hands and watch our environment destroyed and lives endangered”.
The mining site in Enugu
Meanwhile, the Mbah administration has continued the crackdown on illegal and indiscriminate mining activities with enforcement tour and sealing of a number of other sites.
President Bola Tinubu, today approved the appointment of new leadership across the Communications, Innovation and Digital Economy sectors.
A statement signed by Chief Ajuri Ngelale, Special Adviser to the President (Media & Publicity)
The President, named the new and returning Chief Executives to fresh terms in office across multiple agencies under the Federal Ministry of Communications, Innovation, and Digital Economy:
(3) DG / CEO, National Information Technology Development Agency (NITDA) — Kashifu Inuwa Abdullahi
(4) National Commissioner / CEO, Nigeria Data Protection Commission (NDPC) — Dr. Vincent Olatunji
(5) Postmaster General / CEO, Nigerian Postal Service (NIPOST) — Tola Odeyemi
“Furthermore, in line with President Bola Tinubu’s determination to maximally leverage on Nigeria’s proven technological and digital economic prowess to reposition the nation’s economy toward greater financial inclusion, the President has approved the appointment of a new Special Adviser to the President.
“Special Adviser to the President on Technology and Digital Economy — Idris Alubankudi”.
“By this directive of the President, the above-mentioned appointments take immediate effect”.
The Yale Institute for the Preservation of Cultural Heritage (IPCH) is launching a new initiative today that supports museums and cultural institutions across Africa, an endeavor that will establish a new network of leaders, educational programs, and strategic partnerships with universities and global institutions.
The goal is to cultivate a new generation of skilled practitioners in the culture and heritage sector, who will preserve and promote the continent’s rich collections, said Charlotte Ashamu, the Director of International Programs at IPCH.
“This initiative will develop vibrant programs to promote a deeper understanding of the world’s cultural heritage and create a unique platform to foster learning, creativity, and innovation within the field,” Ashamu said.
A crucial component of this initiative is the launch of the Yale Directors Forum, a fellowship program tailored for leaders of museums, cultural centers, libraries, archives, and heritage sites, all of which play an integral role in preserving cultural heritage for present and future generations in Africa.
The 18-month program will give participants the opportunity to work with leading experts at Yale and across the globe and receive personalized executive coaching and advisory services on the preservation and care of collections.
Yale University President, Peter Salovey, who established the Yale Africa Initiative in 2013, said the new program underscores Yale’s commitment to prioritizing and expanding its engagement with Africa through robust partnerships, scholarly activities, and contemporary dialogues.
“I am honored to welcome the first cohort of the Yale Directors Forum,” Salovey said. “This program will strengthen connections between members of the Yale community and exceptional leaders working in the culture and heritage sector across Africa.”
The first cohort consists of 17 fellows from 12 African countries. This diverse group includes Chao Tayiana Maina, an award-winning historian from Kenya; Michaella Rugwizangoga, Rwanda’s Chief Tourism Officer; and Makhosi Mahlangu, a chef and specialist in Indigenous foods from Zimbabwe.
“This fellowship is an exciting opportunity to learn and contribute to contemporary discourse around the preservation of cultural heritage,” said Seun Oduwole, Co-founder and Director of Living Objects who is one of the selected fellows. “It is an honor to join a distinguished network of peers and practitioners in Africa and globally.”
Infopercept, a global cybersecurity solutions and services company, today announced its appointment as a Managed Security Services Provider (MSSP) partner for NeuVector by SUSE’s container security platform, NeuVector.
NeuVector is a zero-trust, full-lifecycle container security platform designed to safeguard cloud-native applications from build to deployment.
It offers comprehensive features such as vulnerability scans, image assurance, runtime security, and network segmentation.
Under this strategic agreement, Infopercept will offer Container Security and Kubernetes Security solutions to organizations embarking on their digital transformation journey in the cloud.
Containers play a pivotal role in cloud adoption, providing the essential components for running applications in diverse environments, including public and private clouds.
Kubernetes, an orchestration platform, effectively manages containers.
While both Kubernetes and Containers offer the agility necessary for digital transformation, security concerns persist among companies transitioning to cloud-based digital transformation initiatives.
Jaydeep Ruparelia, CEO of Infopercept Consulting Pvt Ltd, stated, “Our partnership with SUSE for NeuVector is not only rooted in our shared vision but also in the technological synergy between our organizations. Our visions align on two critical fronts: addressing complex cloud security challenges and harnessing the power of open-source innovation.
Infopercept has been diligently tackling the cloud security concerns of our global clientele through a combination of our ‘Invinsense’ platform and managed services. We’ve expanded our engineering team to deliver code-level security services, facilitating the setup of secure Infrastructure as Code (IaC) and DevSecOps practices.
Through this partnership, we are poised to transition our security offerings from traditional operating systems to encompass containers and Kubernetes. We are genuinely excited to support organizations of all sizes and across various industries on their digital security transformation journey.”
Speaking on the partnership, Sachin Vig, director of Strategic Channels and Alliances for SUSE, said,
“Our primary focus is empowering our customers with open-source technologies that give them the freedom to innovate across all fronts – including the ability to deploy applications in an agile manner while maintaining maximum security.
This partnership with Infopercept helps customers easily consume services from experts in the field that accelerate their digital transformation journey.”
MTN Nigeria is continually innovating. The technology giant is positioning itself in the Rich Communication Services (RCS) market which is touted as the evolution of traditional SMS.
As you know, RCS protocol enables businesses to deliver targeted, personalized marketing messages and offers to their customers through interactive, multimedia messaging campaigns.
Thus, MTN hosted a mobile advertising event that brought together key decision makers (CMOs), Brand & Marketing Executives and Agency heads in Lagos, recently.
Opening the event, A’isha Mumuni, Chief Digital Officer at MTN Nigeria expressed that mobile advertising is a cost-effective means for brands to directly target advertising at the mobile phones of prospects and customers who would want/need their products and services in a more measurable manner than many other channels currently provide.
Rolling out statistics, she said that the digital advertising market in Nigeria is close to hitting $175m by the end of 2023 and by 2030, the market will hit $150m from Telco’s mobile advertising alone.
According to A’isha, MTN Nigeria, through its digital services and enterprise business with its, wants to be the Amazon of mobile advertising.
“We want our partners to be able to access the advertising platform, select the base, location and as many attributes available so that they can push out their campaign.
“We have so many channels for us to present this in ways that is non-obtrusive, and yet meeting our customer at the point of their need, we have the data, information, technology, strategy and experience to achieve this.”
Concluding, A’isha reemphasized the importance of MTN Nigeria’s customers and partners in achieving its mobile advertising feat.
Also speaking at the event, Eityo Amushan, Senior Manager, Digital Campaign and Digital Services, MTN Nigeria discussed the MTN’s advertising key objective as he explains how MTN advertising offers partners the ability to engage with several users through its platforms and various inventory channels, thereby reaching all sectors of the population.
“What we want to achieve for MTN Nigeria is to be the largest publisher in the media advertising space, whereby we’ll be competing with the big techs. We want to empower all our advertisers by leveraging on our first party telco data.
Eyitatyo emphasized that advertising with MTN Nigeria comes with the benefit of reaching real people with first screen user experience as it leverages telco first party deterministic data in accordance with local regulations.
“We are also want to anonymize and aggregate our customer data to provide insights and value to our advertisers.”
According to Eyitayo, this step will empower MTN Nigeria’s advertisers to make their campaign more achievable.
“Our advertiser will use our anonymized data to improve their products and targeting, to get more insights about what their customer wants.”
Eyitayo also explained the concept of RCS (Rich Communication Service) in the mobile advertising space.
MTN RCS Communications API provides a capability to create and send communications, notifications, and instructions to parties, individuals, organizations or users.
According to Eyitayo, RCS is an advanced SMS that allows customers to interact with the messages.
“The RCS are interactive messages which enable us to collect feedback from our subscribers. In return, we leverage the information gathered to empower our advertisers”.
Concluding, Eyitayo highlighted the benefits of MTN mobile advertising which include, targeting capabilities, cost-effectiveness, accessibility and location-based advertising.
SecondSTAX, a technology company that is building solutions to enhance intra-Africa capital and investment flows, has announced a new partnership with the Nigerian Exchange Limited (NGX) that will enable institutional investors from across Africa to directly invest into Nigeria’s capital markets.
The new partnership was established in close collaboration with Afrinvest (West Africa) Limited, a leading capital market holding company in Nigeria active in six principal areas: investment banking, securities trading, asset management, trustee, consulting and financial technology.
The SecondSTAX and NGX handshake
This joint effort will make it easier for licensed broker-dealers, asset managers, large commercial banks and other institutional investors from across the continent to invest in Nigeria’s premier exchange via SecondSTAX’s transparent, easy-to-use, cloud-based portal.
Investors will also be able to invest in their native currencies, making a wider range of assets and opportunities available to more Africans and creating an efficient route to increased wealth on the continent.
Nigeria is Africa’s largest economy and its capital markets present some of the most profitable investment opportunities globally. For example, the Lagos bourse ended the year 2020 as World’s Best with a 50% gain, the most since December 2007.
The equity index was also the world leader among the 93 stock indexes tracked by Bloomberg. Some companies listed in the exchange posted a positive return of up to 400 percent. However, the siloed nature of the exchanges in Africa meant that only people based in Nigeria were able to access these opportunities.
SecondSTAX is building technology solutions for investment firms that will power the seamless flow of capital and institutional investment across the continent, and it is consolidating all debt and equity capital markets throughout Africa, making it easier to access opportunities in relevant markets.
The platform facilitates transactions by securely and efficiently routing orders onto existing mature capital markets infrastructure in complete compliance with local regulations.
As a result, African investment firms are empowered to do more for their clients and have the opportunity to earn more for themselves.
The company already has partnerships with the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE), driving investment into these exchanges from across the continent.
Along with new investment opportunities into Nigeria’s capital markets, this partnership will also make it easier for institutional investors from Nigeria to invest into other capital markets that are available on the SecondSTAX platform.
Following the NGX launch, access to the service will initially be restricted to Qualified Institutional Investors who are able to place minimum trade orders of USD 10,000.00 (or the equivalent value in NGN). Over time, this limit will be reduced to extend services to other customers.
According to Eugene Tawiah, CEO and co-founder of SecondSTAX, “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with the Nigerian Exchange Limited represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to institutional investors outside the country. At the same time, Nigeria’s institutional investors have largely found it challenging to invest into other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”
Eugene Tawiah, CEO of SecondSTAX; Duke Lartey, COO of SecondSTAX
Temi Popoola, CEO, Nigerian Exchange Limited, commends SecondSTAX for its visionary solution to drive institutional investments across Africa.
“This closely aligns with our ongoing efforts to foster innovation and growth in our market through initiatives such as the African Exchanges Linkage Project, which aims to integrate capital markets in the continent; and our partnership with Afreximbank’s Pan African Payments Settlement System (PAPPS) to facilitate seamless cross-border transactions within the African capital markets”, Popoola said.
At NGX, we remain committed to fostering inclusive growth and are open to collaborating with more capital market innovators to stimulate participation and investment in the Nigerian and African capital market. We look forward to the opportunities this partnership with SecondSTAX will unlock and the positive impact it will have on the continent”.
Ike Chioke, Group Managing Director of Afrinvest, said “As a leading capital marketing holding company, we are always at the forefront of driving innovations that grow Nigeria’s capital market. We are delighted to be in partnership with SecondSTAX to enable more opportunities to drive capital inflows into Nigeria’s capital markets and increase investment options for investors in Nigeria.”
Furthering its efforts to ensure the provision of seamless, innovative payment options, Verve, Africa’s leading payment cards and digital tokens brand, has collaborated with Sterling Bank, one of the leading innovative Nigerian banks, to launch its first line of credit cards.
These naira-denominated cards, which are available in two categories Ultra Bronze and Ultra Ruby, will provide flexible access to funds for Nigerians, in addition to a revolving line of credit.
Other features of the card include convenient repayment plans and contactless payment, a 45-day interest-free period, and the ability to use the cards across cities nationwide and at various payment terminals and locations. The cards also have a validity period of 3 years.
This partnership marks another milestone in Verve’s journey as a payment brand focused on improving the lives of Africans one card at a time, deepening financial inclusion, and facilitating access to credit in partnership with card issuers.
Commenting on the partnership, Vincent Ogbunude, the Managing Director, Interswitch Paytoken (Verve) noted that Verve’s resolve to give cardholders the good life was expressed through this partnership.
Ogbunude added, “The credit system in Nigeria is a complex one, and what we seek to achieve with this partnership is to make good on our promise to deliver Verve’s signature good life experience by simplifying access to credit for consumers’ everyday purchases.
“We are thrilled to have collaborated with Sterling Bank on this journey, fueled by our aligned goals of forming strategic partnerships, like this one, to elevate the experience of the average Nigerian in their interactions with the macro financial economy by improving their purchasing power.
Speaking during the launch, the Chief Product Officer at Sterling, Mustapha Otaru said,
“The collaboration with Verve perfectly aligns with Sterling’s mission to create solutions that enhance the delivery of value to our esteemed customers. With Specta Ultra Card issued on Verve, we have simplified access to credit for customers with different income levels and spending needs. Thus, it reaffirms our commitment to delivering innovative financial solutions and access for everyone.”
Verve has continued to demonstrate its commitment to deepening financial inclusion, by partnering with banks, financial institutions, and other payment service outfit to provide payment cards to Nigerians and Africans at large.
With acceptance in over 185 countries globally and over 50 million tokens, Verve cardholders are assured of access to innovative products and solutions that promise convenience and safety.
As a pan-African customer-centric payment scheme, delivering payment solutions to individuals, issuers, and organizations, Verve remains committed to pushing the bounds in terms of customer experience and payment possibilities.
