President Bola Tinubu has expressed the unwavering commitment of the Federal Government of Nigeria to collaborate with global tech giant, Google Incorporated, in generating one million digital job opportunities within the country.
During an official visit to the State House on Friday, July 28, 2023, Google’s Global Vice President, Richard Gingras, met with President Tinubu to discuss potential areas of partnership.
In a statement signed by the President’s Special Adviser on Special Duties, Communications & Strategy, Dele Alake, President Tinubu commended Google’s responsiveness to their call for digital innovation and support for the nation’s youth, driving the promotion of the digital economy.
President Tinubu acknowledged Nigeria’s pool of creative and talented young individuals, expressing their eagerness to embrace learning opportunities, particularly in this era of digital transformation.
Recognizing Google’s expertise and tools, he emphasized their potential to empower the youth and enhance their skill set.
“We are delighted that Google is willing to collaborate with us in our mission to create one million digital jobs in Nigeria. This partnership aligns with our ongoing economic reforms, despite the challenges we may face,” stated President Tinubu.
Additionally, President Tinubu commended Google’s role in promoting free speech, freedom of the press, and democracy through its platforms. He emphasized the importance of preserving these fundamental principles for the public interest and committed to supporting a free society.
In response, Richard Gingras expressed his admiration for the creativity and talent exhibited by the Nigerian youth, who have embraced technology and digital tools to widen access to information and advocate for democracy. Gingras assured President Tinubu of Google’s profound interest in Nigeria and its readiness to support the Federal Government’s initiatives.
Google’s Global Vice President highlighted various capabilities, including Artificial Intelligence and other digital innovations, that are empowering young Nigerians to emerge as successful digital entrepreneurs.
“We are inspired by the youth of Nigeria and their embrace of technology to create a positive impact. Google is committed to fostering a prosperous digital ecosystem in Nigeria and beyond,” said Richard Gingras.
The partnership between the Federal Government of Nigeria and Google presents a tremendous opportunity to accelerate the growth of the digital economy and create a robust workforce prepared to thrive in the digital era
Threads(.com), a Slack competitor unaffiliated with Meta’s new social network, received over 10 million site traffic in the first two weeks since Threads(.net) launched
The work app has seen its global website ranking skyrocket from 545,741 to 5,813 in just two weeks
Threads’ Google Play profile shows downloads have surged by over one million in July, up from 2,600 average downloads per month
Meta’s launch of Threads(.com) has seen traffic to a Slack competitor, also named Threads(.net), explode by 12,148%, from 88,011 monthly visits to over 10 million in two weeks, according to analysis of SimilarWeb data.
The analysis by small business advice company Venture Smarter reveals that the work app has catapulted over 10x in global site rankings, nearing the top 5,000.
Visits have exploded to over 122 times June traffic levels before Meta’s Threads launched in July. Threads(.com)’s traffic surged from 88,011 visits in June to 10.78 million in July, skyrocketing by 12,148% in a single month as users attempted to visit the social network.
With 90 million visits in July, this means just over one in ten went to the unaffiliated Threads instead of Meta-owned Threads’ during the same time period.
The largest increase was seen on July 6, when over 2.5 million visitors navigated to the website in a single day.
Sharing a name with the latest social network has caused Threads(.com) to skyrocket in global website ranking from 545,741st to 5,813th in just two weeks.
U.S. site rankings also saw a similar uplift from 208,486th place to 8,331st.
Analysis of its Google Play profile reveals downloads to the work app shot up from over 100,000 to over one million in a single month. Before Meta’s Threads launched, the app received around 2,600 monthly downloads.
The work communication app was founded by three former Facebook (Meta) employees: Jon McCord, Mark Rich, and Rousseau Kazi.
Jon Morgan, CEO and Editor-in-Chief of Venture Smarter, commented on the findings:
“Threads work app has won the lottery for sharing a brand name with Meta’s latest social network, resulting in millions of traffic accidentally landing on its website. While some may argue that the traffic is irrelevant, as it was meant for the social network, analysis of the company’s app page has shown that the accidental traffic surge has resulted in millions of new downloads and a huge awareness boost of the work tool, surely boosting the company’s value and online rankings overnight. It’s also a valuable lesson to CEOs in securing all domains users may use to find your business, or you could benefit the wrong company”.
– the study reads.
The study was conducted by Venture Smarter, a small business advice company.
Fig 1: Threads(dot)com June vs. July 2023 (As of July 22) traffic and global rank Source: Venture SmarterSource: Venture SmarterSource: Venture Smarter
Fig 4: Threads(.com) Google Play app store has 100,000+ downloads July 06, and over 1,000,000+ as of July 26
NB:- Data was gathered from SimilarWeb Pro and Google Play.
President Bola Tinubu has called on Nigerian youths to exercise patience and understanding as the nation undergoes economic and monetary policy reforms.
He expressed confidence that these hardships would pave the way for a more prosperous, equitable, and inclusive economy in the future.
Addressing the All Progressives Congress (APC) national youth leaders from the 36 states and the Federal Capital Territory on Thursday in Abuja, President Tinubu outlined his administration’s plans to support economic activities among citizens, particularly the youth.
He emphasized that one of the measures to achieve this goal would involve collaborating with lending institutions to provide micro-loans at significantly low-interest rates.
“I make my pledge to the country that no decision will be difficult for this administration to take for the prosperity and unity of this country. Economic reforms could be slow. Be patient a little more,” President Tinubu assured the gathered youths.
He acknowledged the challenges caused by the removal of the fuel subsidy, which had been in place for over four decades, but underscored the necessity of such actions to address economic imbalances.
Recognizing the significance of the youth in nation-building, President Tinubu reaffirmed his commitment to include young people in governance and decision-making processes.
He emphasized that his administration would not shy away from making tough decisions when they are in the best interest of the nation’s progress and unity.
“It is not easy to get rid of the monster of over 40 years called fuel subsidy,” the President candidly stated, acknowledging the complexities involved in implementing economic reforms.
Nonetheless, he urged the Nigerian youth to remain patient, assuring them that the hardships they are experiencing will ultimately lead to a more robust and inclusive economy.
Moreover, President Tinubu pledged to take steps to widen opportunities for women and youth in various sectors, ensuring they have equal access to opportunities and resources.
He highlighted the importance of harnessing the potential of the younger generation to propel the nation towards greater growth and development.
As political discourse remains dynamic, President Tinubu’s statements have garnered attention and reactions across the country.
Citizens and stakeholders are closely monitoring the government’s actions as they wait to witness the outcomes of these economic reforms.
President Bola Tinubu’s call for patience and understanding during the ongoing economic reforms signals the government’s commitment to charting a path towards a more prosperous and inclusive Nigeria.
With assurances of inclusion and opportunities for the youth, the nation looks forward to witnessing tangible outcomes in the quest for economic growth and equitable development
The Corporate Affairs Commission (CAC) has announced its intention to delist 100,000 registered companies from its database due to their failure to file annual returns over the last decade.
The decision was disclosed by the Registrar-General and Chief Executive Officer of CAC, Alhaji Garba Abubakar, during a training session on the ‘Use of the beneficial ownership register’ in Lagos.
Abubakar stated that the CAC will step up enforcement measures to remove these non-compliant companies from its register.
According to Section 692 of the CAMA, 2020, the commission is obligated to send notice of striking off to the affected companies before proceeding with the action.
However, he clarified that these companies have the opportunity to be relisted after settling their outstanding debts and obtaining a court order as mandated by the law.
The Registrar-General urged companies to prioritize timely payment of their annual returns to avoid being struck off.
The failure to comply with these regulatory requirements not only results in the removal from the database but also hampers the smooth functioning of the commission.
In a separate topic during the training, Abubakar highlighted the significance of Africa’s first Beneficial Ownership Register (BOR), developed by the CAC with support from the World Bank.
He emphasized that the BOR will play a crucial role in combating corruption, money laundering, and terrorism financing in the region.
Abubakar encouraged various stakeholders, including investigative agencies, legal practitioners, journalists, and civil society organizations, to make effective use of the BOR in fulfilling their respective responsibilities.
Responding to the development, Dr. Adeyeye Adefulu, Chairman of the Nigerian Bar Association Section on Business Law (NBA-SBL), praised the CAC for achieving this milestone and assured continued collaboration between NBA-SBL and the commission.
He also encouraged members to leverage the knowledge gained from the training for the betterment of the Nigerian economy.
Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria, also emphasized the importance of the BOR in the ongoing fight against money laundering and terrorism financing.
He urged professionals to exercise due diligence while dealing with their clients to ensure compliance with anti-money laundering and counter-terrorism financing measures.
The move by the CAC to delist non-compliant companies underscores the importance of adhering to regulatory requirements and maintaining transparency in corporate practices.
As the commission proceeds with its enforcement measures, affected companies are urged to take prompt action to avoid being struck off from the CAC’s database
The Dangote Refinery, a prominent industrial venture in Nigeria, has recently faced allegations of favoring skilled workers from India over young individuals from Nigeria and other African nations. This has sparked intense scrutiny and raised questions about the fairness and inclusivity of the refinery’s employment practices.
Amid this controversy, two distinct perspectives have emerged, providing insights into the reasons behind the hiring decisions and exposing a deeper issue plaguing the region – the scarcity of skilled labor.
On one side, the Dangote Refinery management vehemently denies the accusations, attributing them to malicious intent and emphasizing the significant number of competent Nigerian workers involved in the project.
On the other side, the Sub-Saharan African Skills and Apprenticeship Stakeholders Network (SASASNET) offers a different viewpoint, suggesting that the scarcity of adequately skilled Nigerian youths compelled the refinery to seek skilled workers from India.
This analysis will delve into these contrasting perspectives, shedding light on the complexities of the situation. By examining the rationales put forth by both parties, it is imperative to better understand the dynamics at play within the Dangote Refinery’s hiring practices and the larger issue of a skilled labor shortage in Nigeria and Africa.
Dangote Refinery Management’s Response
The Dangote Refinery management, represented by Anthony Chiejina, the Group’s Chief Branding & Communications Officer, has strongly denied the claims of hiring 11,000 talented workers exclusively from India.
They argue that the accusations were made with malicious intent, underreporting the number of competent Nigerian workers employed by the refinery.
Chiejina points out that the scale and complexity of the refinery project necessitate the use of specialized skilled labor from around the world.
While acknowledging that 6,400 Indian and 3,250 Chinese workers were part of the workforce, he highlights that over 30,000 Nigerians were employed as part of the skilled labor force during the peak of construction.
The management emphasizes that Nigerian workers on the project demonstrated a high degree of technical competence, dispelling any notion that the refinery relied solely on foreign expertise. Chiejina contends that the project has helped uncover and nurture latent talents among the Nigerian workforce.
The Dangote Group’s track record as an industry leader in job creation is highlighted, with Chiejina urging the public to focus on the potential positive effects of the refinery project on the general economy and the welfare of Nigerians.
SASASNET’s Explanation
The Sub-Saharan African Skills and Apprenticeship Stakeholders Network (SASASNET) provides an alternative perspective on the matter.
They assert that the reason for engaging a large number of skilled workers from India is rooted in the lack of adequate skills among Nigerian youths to fulfill the requirements of the refinery project.
Proposal for a Skills Qualification Framework
SASASNET proposes the development of a national skills qualification framework for each African country to facilitate labor migration within the continent. This framework aims to address the issue of skilled labor shortages and improve the employability of African youths.
Concerns for Future Projects
The network warns against a repeat of the same hiring practices in future projects, specifically mentioning the upcoming $25 billion Trans-Saharan Gas Pipeline project. They urge Africa to be proactive in avoiding such disparities and emphasize the importance of having National Occupational Standards in many countries to bridge the skills gap.
Conclusion
The controversy surrounding the employment practices at Dangote Refinery sheds light on a crucial issue: the shortage of skilled labor in Nigeria and other African countries.
While refinery management justifies the need for specialized skills from around the world to tackle a massive project, SASASNET points to the importance of developing local talent through skills qualification frameworks.
As Africa continues to witness large-scale industrial projects, addressing the skills gap becomes imperative for sustainable economic growth and equitable job opportunities.
Cooperation between governments, industries, and educational institutions is crucial to nurturing a skilled workforce that can contribute to the continent’s development.
The National Identity Management Commission (NIMC) announced that a remarkable milestone has been achieved in the country’s National Identification Number (NIN) registration process.
The Director-General of NIMC, Aliyu Aziz, revealed that over 101 million Nigerians have successfully registered for their NINs. Notably, women account for 44% of the total number of registrants.
Through the concerted efforts of the NIMC and its dedicated workforce, 90% of adults aged 15 years and above have been successfully captured in the NIN database.
The remaining individuals are primarily children who are currently in hospitals or attending schools, and they will be registered at their earliest convenience.
“As of today, the National Identity Database holds over 101 million records and NINs issued. It has been a painstaking effort to capture good quality data, of which we are proud and can boldly open for audit,” said DG Aliyu Aziz.
To facilitate this unprecedented registration drive, the NIMC has established 5,500 active enrollment centers across the nation, ensuring widespread coverage of the enrollment activities, even in remote areas and communities.
Furthermore, the commission has deployed over 15,000 registration devices nationwide, enhancing the efficiency and expediency of the registration process.
In a bid to broaden its reach and expedite the registration process, the NIMC has collaborated with 170 private firms, more than 30 state governments, and public institutions. Their support and cooperation have played a crucial role in making NIN registration accessible to all eligible citizens.
Despite the significant progress, the NIMC DG pointed out that there is still a gender gap in the Nigerian ID project. The data analysis reveals that more males have been covered compared to females. DG Aziz emphasized that addressing this disparity is a priority for the NIMC.
“Analysis of the National ID database has shown that there is a low coverage and gender gap in Nigeria ID project considering the notion that there are more women than men. With over 101 million registered persons to date, only 44 per cent are females. This shows that more males have been registered than females,” explained DG Aziz.
To bridge this gap, the NIMC has conducted gender deep dive studies in collaboration with the World Bank to identify and understand the barriers hindering women’s access to identity registration.
Some of the challenges identified include lack of awareness, perceived lack of value/use of ID, accessibility issues, registration time constraints, lack of documentation, and biometric capture issues.
The NIMC remains committed to addressing these challenges and ensuring that all Nigerian citizens, regardless of gender or location, can easily obtain their NIN and access the associated benefits and services.
The NIMC calls upon all eligible citizens who have not yet registered for their NIN to do so promptly at the nearest enrollment center.
The NIN serves as a crucial tool for national development, security, and access to essential services, and the commission aims to achieve universal enrollment for all Nigerians
President Bola Ahmed Tinubu has taken a significant step in fulfilling his commitment to building a competent and diverse cabinet for the betterment of Nigeria.
On Thursday, the 27th of July 2023, President Tinubu submitted a list of 28 ministerial nominees to the Senate, encompassing a wide array of talents and expertise.
The list, read by the Senate President, Godswill Akpabio, contains prominent names, including former Kaduna Governor Nasir El-Rufai and ex-Rivers Governor Nyesom Wike.
This nomination reflects President Tinubu’s intent to bring together leaders from various backgrounds to drive progress and innovation in the country.
The ministerial nominees are a blend of seasoned administrators, economists, health experts, lawyers, and close associates of President Tinubu, all of whom are committed to the development of Nigeria.
Among the notable nominees are Adebayo Adelabu, the former governorship candidate of APC in Oyo State; senior lawyer Lateef Fagbemi, SAN; economist Olawale Edun; and presidential spokesperson Dele Alake.
President Tinubu has urged the Senate to commence the screening and confirmation process for these deserving nominees, emphasizing the importance of swift action to ensure the country’s progress remains unhindered.
The president’s submission aligns with the constitutional provision, which mandates that a new president has a 60-day window from inauguration to appoint ministers.
The selection process, guided by principles of meritocracy, competence, and dedication to national service, has resulted in this diverse and promising pool of ministerial nominees.
The proposed ministers are as follows:
Abubakar Momoh
Ambassador Yusuf Maitama Tuggar CON
Arch. Ahmed Dangiwa
Barr. Hannatu Musawa
Chief Uche Nnaji
Dr. Betta Edu
Dr. Dorris Aniche Uzoka
H.E. David Umahi
H.E. Nyesom Wike
H.E. Badaru Abubakar CON
H.E. Nasiru Ahmed El-Rufai
Rt. Hon. Ekperipe Ekpo
Hon. Nkiru Onyeojiocha
Hon. Olubunmi Tunji Ojo
Hon. Stella Okotette
Hon. Uju Kennedy Ohaneye
Mr. Bello Muhammad G.
Mr. Dele Alake
Mr. Lateef Fagbemi SAN
Mr. Muhammad Idris
Mr. Olawale Edun
Mr. Waheed Adebayo Adelabu
Mrs. Iman Suleiman Ibrahim
Professor Ali Pate
Professor Joseph
Senator Abubakar Kyari
Senator John Eno
Senator Sani Abubakar Danladi
The Senate President has referred the president’s request to the committee of the whole for further consideration.
President Tinubu’s commitment to assembling a team of capable ministers who can bring positive change to Nigeria demonstrates his dedication to the country’s welfare and progress.
The president looks forward to the Senate’s diligent screening process and hopes for a swift confirmation to enable the government to hit the ground running.
The United Nations World Tourism Organisation (UNWTO) has announced the appointment of Mr. Lai Mohammed, the former Minister of Information, Culture, and Tourism of Nigeria, as the Special Advisor to UNWTO Secretary General, Mr. Zurab Pololikashvili.
The appointment was officially made during the opening session of the 66th UNWTO Commission for Africa (CAF) currently taking place in Mauritius.
With a remarkable track record in the world of tourism, Mr. Lai Mohammed is expected to bring a wealth of knowledge and experience to his new role, having consistently played instrumental roles in the affairs of the world tourism body for the past seven years.
Notably, he led the successful organization of the 61st UNWTO CAF Meetings in Nigeria in 2018 and the inaugural UNWTO Global Conference on Linking Tourism, Culture, and Creative Industries in Lagos last year.
In his new capacity, Mr. Mohammed will play a crucial role in supporting Secretary-General Pololikashvili’s objective of making Africa a key region for the global tourism economy through the Agenda for Africa program.
Expressing his gratitude for the appointment, Mr. Lai Mohammed said, “I stand before you, deeply touched and inspired by your generous words of confidence and trust.
With so much gratitude for the confidence placed in me by the Secretary General of the United Nations World Tourism Organization (UNWTO), Mr. Zurab Pololikashivili, and with an unswerving resolve to honor that trust, I humbly accept the appointment as the Special Advisor on Tourism to the Secretary General of this great Organization.”
Mr. Mohammed further acknowledged the significance of his new role, stating, “I am deeply honored to become the first Nigerian to serve in this capacity. Nigeria is dynamic and diverse in terms of natural and human resources in the areas of tourism, culture, creative industries, technology, and other aspects of our national economy.”
As the Special Advisor, Mr. Lai Mohammed will have a multifaceted mandate, including assisting in developing a strategy for restarting sustainable and safe tourism post COVID-19.
He will also provide valuable advice to the UNWTO Secretary General on issues related to information and culture.
In addition to these responsibilities, Mr. Mohammed will be preparing relevant reports and research documents in line with UNWTO’s principles.
He will accompany and offer advice to the Secretary General during his visits and propose relevant actions of public relations in line with the world tourism body’s priorities.
Mr. Mohammed’s appointment marks a significant milestone for Nigeria and Africa as a whole, showcasing the region’s commitment to responsible and sustainable tourism development
In a significant stride towards sustainable development and environmental stewardship, the Lagos State Government and the Kingdom of Netherlands have joined hands to sign a Memorandum of Understanding (MoU) aimed at creating 4,000 jobs in waste management within the state.
The MoU was formalized during Africa’s first edition of Circular Economy, a landmark summit held in partnership with the African Circular Economy Network (ACEN) and the Circular Economy Innovation Partnership (CEIP), with support from the Netherlands.
Governor Babajide Sanwo-Olu, representing the state, emphasized the summit’s crucial role as a pragmatic and fundamental approach to addressing global crises such as pollution, climate change, and biodiversity loss.
He highlighted the need for a model of production and consumption that embraces sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products to foster a resilient socio-economic development for Lagos.
Governor Sanwo-Olu expressed his vision for a greener Lagos, stating, “We will create more jobs, approximately 4,000, and elevate Lagos to become an even greater Mega City. Our commitment to promoting inclusive and sustainable economic growth through encouraging sustainable consumption and production patterns cannot be overemphasized.”
The Lagos Circular Economy Hotspot 2023 holds immense significance, not only for Lagos and Nigeria but also for the entire sub-Saharan Africa region. Governor Sanwo-Olu reaffirmed his administration’s dedication to eliminating waste and pollution, optimizing resources, and regenerating nature, aligning with the principles of circular economy for a more sustainable future.
As the nation continues to navigate limited resources and prioritize socio-economic needs, the partnership between Lagos State Government and the Kingdom of Netherlands is poised to unlock immense potential in waste management, job creation, and environmental preservation.
The collaborative effort of the Lagos State Government and the Kingdom of Netherlands sets a precedent for the integration of circular economy principles, driving positive change and offering innovative solutions for a cleaner, greener, and more prosperous Lagos.
In a major development for Nigeria’s digital economy, Google Play has announced a new partnership with Verve, the largest domestic card scheme in Africa, enabling Nigerians to make payments on the Play Store using the local currency, the naira.
The collaboration was warmly received by industry leaders, with Anthea Crawford, Head of Retail and Payment Partnerships at Google Play, expressing her excitement about the partnership.
She stated, “We are thrilled to collaborate with Verve, expanding Google Play access for more Nigerians. The introduction of local payments with Verve cards is a significant milestone, enabling more Nigerians to participate in the app economy and access the apps they need.”
Vincent Ogbunude, the Managing Director of Verve International, highlighted the importance of this integration in realizing Verve’s vision of promoting financial inclusion. “We are excited to bring digital content and services closer to Verve cardholders, hence bridging the digital divide,” he said.
As Nigeria’s leading payment card scheme, Verve’s expanding acceptance promotes inclusion by extending the reach of digital services to a larger segment of the population.
Users can now easily add their Verve cards to their Google Play Accounts and pay in Naira, simplifying the payment process for apps and services while contributing to a more inclusive digital environment for Nigerians.
With the partnership in effect, Nigerians can now use their Verve cards to make purchases on the Google Play Store.
This move comes as a significant relief to many Nigerians who were facing challenges with international payments due to forex demands on their banks.
Google’s decision to process Verve transactions within Nigeria in the local currency ensures that these transactions will be treated as local transactions by the country’s banking institutions.
Google Pay, a mobile payment service developed by Google, enables in-app, online, and in-person contactless purchases on mobile devices, allowing users to make payments using their Android phones, tablets, or watches.
This new collaboration marks a significant stride forward for the digital ecosystem in Nigeria, making it easier and more accessible for Nigerians to participate in the app economy and access a wider range of digital services. As technology continues to drive advancements in financial services, this partnership between Google Play and Verve sets the stage for greater financial inclusion in Nigeria’s rapidly evolving digital landscape]]p]]
The Nigerian Government through the Federal Ministry of Communications and Digital Economy has assured that it would intensify efforts at partnering with the industry stakeholders to help evolve, enable broad opportunities, foster innovation, and build the African tech innovation ecosystem.
This assurance was made today at the maiden edition of the Global Tech Africa (GTA) Summit, an initiative designed to help Africa transform and ignite a flame of innovation that will illuminate the path toward creating a digital future in the continent.
The event was organized in collaboration with the National Information Technology Development Agency (NITDA), United States Consulate General, Ascends Studios Foundation, and Future Map Foundation.
In his welcome address, Dr. William Nwankwo Alo, the Permanent Secretary Ministry of Communications and Digital Economy who was represented by Mr. Samuel Okoye, the Director of Information Communication Technology, (ICT) noted that the Summit presents a pathway for embarking on a journey to explore the immense opportunities that lie at the intersection of innovation, technology, and human progress.
Dr. Alo emphasized that the potential of technological advancements is to bridge gaps, foster inclusivity, and ignite economic growth, therefore, the Summit catalyzes the unlocking of these potentials and empowers Africans to become global technology leaders.
He said the Pan-African Summit would foster a collective vision and help in harnessing technological power that could uplift communities, improve healthcare, education, and access to information, drive sustainable agriculture, and improve innovation in all sectors of the economy.
“Today, we stand on the precipice of a transformative journey—one that will redefine the future of Africa and her people, and I believe with this kind of summit, which has congregated some of the best minds in the industry, we will shape a destiny where access to technology is no longer a privilege but a fundamental right for all Africans,” he added.
On his part, the Director General of NITDA, Kashifu Inuwa CCIE while delivering his keynote address said Africa is blessed with abundant talent, untapped potential, and a vibrant youthful population to play pivotal roles in the global tech ecosystem.
He posits the necessity of recognizing the importance of uniting to reap the potential that lies ahead in the areas of e-commerce, fintech, and digital economy in general under the banner of Global Tech Africa (GTA).
Expressing optimism, he said that GTA would provide a powerful platform to unlock all these opportunities in Africa; though he expressed some skepticism about this, he is convinced that the playbook that has been developed to propel the realization of these potentials and has identified three steps that would ensure the unlocking of these potentials in a digital economy.
He believed that there is no reason for Africa to be left out in this Fourth Industrial Revolution after being left out in the first, second, and third Industrial Revolutions.
The Fourth Industrial Revolution is about talent and technology. In Africa, we have the talent. The developed world has the technology. Technology will not work without talent; therefore, they need us to develop the technology while we need the technology to boast our economy.
While noting the need for talent development in Africa by saying that by 2030, there are going to be 85 million talent deficits globally, which will result in 8.5 trillion US dollars annualized value, Inuwa maintained that “Nigeria has proven that we have the talent. We have done that in sports, the music industry, the film industry, and we can do it in the technology ecosystem.”
He called for the need to embrace and create value via the ecosystem, saying that no one succeeds in isolation.
He said, “Looking at it globally, innovation is not evenly distributed but in clusters as an ecosystem; therefore, the reason for this platform is to create a strong ecosystem in Nigeria and in Africa by partnering with all the key stakeholders that are captured under five categories in the ecosystem.
He listed the ecosystem partners as the high institutions that produce human capital, corporate organizations that absorb the human capital, entrepreneurs who can start and grow businesses, venture capital that can invest in those innovative ideas, and lastly, the government that makes policies and provide infrastructure in un-served and underserved communities.
Referring to the World Intellectual Property Organisation, (WIPO), the Director General noted that the innovation ecosystem is worth more than five billion US dollars.
Citing Coferry report, Inuwa said a country or a region with a strong innovation ecosystem creates jobs at twice the rate of countries or regions with a weak innovation ecosystem, adding that according to Statista, digitally transformed enterprises contributed 13.5 trillion US dollars to the global GDP in 2018 and are projected to contribute 53.3 trillion US dollars this year, in 2023.
“That means innovation is winning when it comes to wealth creation, and we need the ecosystem to be able to benefit from it. This is what we are trying to build with GTA,” he said.
Apologetically he asserts that currently, the ecosystem is weak and needs to be reinvented by rebuilding the trust among stakeholders to aid the social contract within the system.
He described the government’s role from two angles rule-based and non-rule-based regulations. Stating that the objectives of all regulatory instruments are to create a market to enable innovation within the ecosystem, protect consumers and make service delivery more efficient.
In his conclusion, he appealed to the audience to welcome the goals of the GTA Summit as a platform that places Africans at the forefront of innovation, growth, and prosperity.
“As a nation and continent, together we can make it possible; and together, we can unlock the boundless potentials in our continent, forging a future where technology drives positive change and creates opportunities for all,” Inuwa assured.
Other speakers at the event were Will Stevens, the United State Consular General; Steffi Czerny, Co-founder, of Digital Life Design (DLD); Bunmi Akinyemiju, Co-founder, of Venture Garden Group; Emmanuel Tarfa, GTA Team and the Chief Convener, Dr. Inya Lawal.
Mastercard in partnership with Alerzo provides agile solutions to small to medium enterprises.
The partnership is focused on making digital payments more accessible to FMCG companies in Nigeria.
The Mastercard and Alerzo partnership will significantly impact the lives of millions of Nigerians.
Mastercard, a global leader in financial services, has joined forces with Alerzo, Nigeria’s leading technology service provider, to address the challenges faced by small and medium-sized enterprises (SMEs) in Nigeria’s Fast-Moving Consumer Goods (FMCG) sector.
This partnership aims to empower businesses by offering digital payment solutions, financial training, and access to credit, ultimately leading to increased sustainability and success in the market.
Alerzo’s expertise in B2B e-commerce and Mastercard’s global infrastructure and network will be leveraged to make digital payments more accessible to businesses of all sizes.
Through this partnership, a range of innovative solutions will be offered, including VeedezPay, a digital payment solution designed for informal and small businesses, VeedezPro, a comprehensive business management tool tailored for SMEs and ERP solutions for more established businesses. Additionally, micro-lending services will be made available to businesses using the VeedezPay and VeedezPro solutions.
The lack of digitization has been a major obstacle for SMEs in Nigeria, hindering their ability to tap into new sales opportunities, track sales and inventory, and access credit to grow their businesses.
With the Alerzo-Mastercard partnership, these challenges will be addressed through a comprehensive approach that aims to equip 1,000,000 SMEs in Nigeria with valuable knowledge and skills through financial training within the next 5 years.
This effort will accelerate the adoption of digital payments and encourage the use of financial solutions nationwide.
Speaking on this partnership and providing support to small businesses, the Chief Executive Officer of Alerzo Limited, Adewale Opaleye, said, “We’re excited to partner with Mastercard to support the growth and success of SMEs in Nigeria. With our combined expertise and resources, we look forward to continuing to provide training, financial support, and innovative payment solutions to businesses in Nigeria. These solutions could be a game-changer, especially for our informal retailers, who often get overlooked.”
“Nigerian small businesses have proved their resiliency in recent years, but still face many pressures to remain profitable. Through our partnership with Alerzo, we are excited to combine our expertise and resources to drive digital transformation and financial inclusion, providing training and solutions that enable Nigerian businesses to thrive,” said Ebehijie Momoh, Country Manager and Area Business Head, West Africa at Mastercard. Momoh further added, “This collaboration will play a crucial role in digitizing payments and supporting the growth and success of Nigerian businesses.”
SMEs and informal retailers will benefit from the low-cost acceptance solutions provided by the partnership, such as Tap on Phone, QR, Pay-By-Link, and Payment Gateway Service. Businesses can sign up for VeedezPay and VeedezPro, available for download on the App Store and Google Play, to start accepting digital and contactless payments immediately. Established businesses can inquire about the ERP solution, which offers integrated business management tools along with the above features.
Access to credit is crucial for businesses to grow, and the Alerzo-Mastercard partnership aims to address this need. Micro-lending solutions will be initially available to informal retailers through the Alerzoshop B2B commerce application, providing them with financial support to expand and take advantage of new opportunities.
The impact of this partnership extends beyond individual businesses. By empowering SMEs and informal retailers, millions of people who rely on their small businesses to support themselves and their families will experience positive changes.
Interswitch Group, Africa’s leading integrated payments and digital commerce company, and Stratus Technologies, Inc. (“Stratus”), an SGH (Nasdaq: SGH) company and a global leader in simple, protected, and autonomous Edge Computing platforms, have recently unveiled a plethora of cutting-edge technological solutions that will address gaps in the Nigerian oil and gas industry.
These novel solutions were showcased at the recently concluded Nigeria Oil & Gas (NOG) Energy Week themed ‘Powering Nigeria’s Sustainable Energy Future’ that was held from July 9 to 13 2023, at the International Conference Centre (ICC) in Abuja.
The 5-day conference and exhibition which drew energy industry leaders, experts, and key stakeholders from across Nigeria and beyond, focused on strategies for the Nigerian government and private sector participants to navigate the emerging trends in the energy sector.
Stratus and Interswitch jointly played a prominent role at the event as they actively engaged participants and showcased a range of solutions including advanced asset performance management applications, fault-tolerant edge computing platforms supporting advanced analytics with artificial intelligence (AI) and machine learning (ML), real-time simulation and digital twins for efficiency optimization, secure and autonomous edge computing platforms for monitoring and control.
The solutions are expected to enable industry players to harness the power of next-generation computing technologies to streamline operations, increase efficiency, and reduce costs.
“We are extremely pleased with the overwhelming response and positive feedback we received at the Nigeria Oil & Gas Conference,” said Jonah Adams, MD, Digital Infrastructure & Managed Services (Interswitch Systegra). “Our partnership with Stratus Technologies has enabled us to deliver state-of-the-art solutions that empower organizations in the oil and gas industry in Nigeria. By leveraging IoT-driven the capabilities of the edge computing and the ft servers, our solutions enable enhanced performance, cost optimization, and efficiency. We are proud to contribute to Nigeria’s sustainable energy future.”
Also commenting on the partnership and its attendant possibilities, Pieter van der Merwen, Regional Manager Sales and Business Development Africa and the Middle East, Stratus Technologies, said “Collaborating with Interswitch Group has been a remarkable journey. Our fault-tolerant Edge Computing platforms, combined with Interswitch’s technological expertise, offer oil and gas industry organizations unparalleled capabilities for real-time data processing, advanced analytics, and simulation. We are delighted to be part of this transformative journey, enabling enhanced efficiency, predictive maintenance, and cost optimization.”
As a forward-looking technology company that provides services across industry verticals, Interswitch continues to develop industry-disrupting innovations that spur efficiency and drive performance excellence.
Google has partnered with Verve, the largest domestic card scheme in Africa, to make digital transactions on Google Play Store easier and more accessible for Nigerians.
As of today, Nigerians can use their Verve cards to make purchases on the Google Play Store, strengthening the digital ecosystem in Nigeria.
Under this new arrangement, Google will process Verve transactions within Nigeria.
These transactions will be undertaken in Nigerian Naira (NG), and treated as local transactions by the country’s banking institutions. As a result, any Nigerian with an Android device and a Verve card now has a streamlined method for making purchases on the Google Play Store.
Anthea Crawford, Head of Retail and Payment Partnerships, Google Play, said, “We are thrilled to collaborate with Verve, expanding Google Play access for more Nigerians.
The introduction of local payments with Verve cards is a significant milestone, enabling more Nigerians to participate in the app economy and access the apps they need.”
Speaking about this partnership, Vincent Ogbunude, Managing Director Verve International, stated that “the integration with Google Play is a significant stride towards achieving Verve’s vision of promoting financial inclusion. We are excited to bring digital content and services closer to Verve cardholders, hence bridging the digital divide.”
As a foremost payment card scheme in Nigeria, Verve’s expanding acceptance promotes inclusion by extending the reach of digital services to a larger segment of the Nigerian population. Maximising this exciting possibility, users can now add their Verve Cards to their Google Play Account and pay in Naira, without stress.
Here’s how to use your Verve card on Google Play: Open the Playstore, choose the app you want to buy, click the amount you see on your screen, click “add credit or debit card” enter your Verve card details when asked. You can also go to pay.google.com, log in with your Gmail account, click on ‘Add a payment method,’ enter your Verve card details and save. Then, return to the Playstore to make your purchase. Your card will be charged automatically.
This new partnership not only simplifies the payment process for Google Play Store apps and services but also contributes significantly to a more inclusive digital environment for Nigerians.
Ecobank, the leading pan-African Banking Group, has been named Africa’s Best Bank for SMEs (small and medium-sized enterprises) by the Euromoney Awards for Excellence for the second year running, having also won the accolade in 2022.
Jeremy Awori, Chief Executive Officer, Ecobank Group, said: “This award reflects Ecobank’s absolute commitment to supporting African SMEs and our continuous suite of innovations – financial and non-financial – to spur their growth and success. We aim to be the bank of choice for Africa’s SMEs.
Undoubtedly, these SMEs are the key drivers for Africa’s economic growth, as they create jobs, generate prosperity while eliminating poverty across the continent.”
Ecobank has launched major initiatives for the benefit of SMEs during the last 12 months including:
The Ecobank Single Market Trade Hub, which supports the AfCFTA’s single African market. The hub is a one-stop shop providing information about the AfCFTA, access to Ecobank’s full range of trade facilitation products and solutions (covering trade finance, advisory, payments and collections) as well as a marketplace for products, services and businesses across Africa.
· RapidCollect, which enables Ecobank’s business customers to receive payments from their clients in their home country and across Ecobank’s network of 33 affiliates, instantly and at a lower cost than any other cross-border solution.
· The partnership with Mastercard Farm Pass through which we have digitised the agricultural value chain for smallholder farmers, simplifying and better securing the process for obtaining a fair price for produce.
· Ellevate Equip Leadership Programme for our women led or focused business customers. Modules include emotional intelligence; leading with authenticity; defining strategic leadership; mastering influence, decision-making; and negotiating for results.
· The Financial Literacy Series equipping SME Managers and owners with necessary financial education. The first in the series was ‘Preparing SMEs for the Capital Markets’ and it attracted nearly 3,500 registered participants.
In selecting Ecobank as Africa’s Best Bank for SMEs the judges based their decision on Ecobank’s longstanding and unwavering commitment to satisfying the needs of SMEs.
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