₦airaland Forum

According to reports, Mr Femi Otedola may have purchased additional shares of First Bank Nigeria, FBN Holding Plc, from the Nigerian Exchange Limited, NGX, this week in order to increase his stake in the bank.
Market participants believe he has the right to buy more shares from the secondary market if they become available in order to increase his holdings in the bank, as speculation has it that he has increased his total stake to 7.57 percent.

However, when Vanguard contacted the NGX’s spokesperson, Mr Clifford Akpolo, he stated, “I am not aware of any transaction from Femi Otedola as the Exchange has yet to receive any notice to that effect.” I’ll find out if there are any and get back to you.”

The NGX spokesperson had yet to respond at the time of filing the report.

Meanwhile, the weekly transactions for the week ending Friday revealed that investors exchanged 35.346 million units of FBN shares, with the price rising by 10 kobo to N11.90 per share from N11.80 per share.

It will be remembered that Otedola previously made piecemeal acquisitions of FBN shares totaling 5.07 percent.

If he did buy more shares this week, he will formally consolidate his position as the single largest shareholder of FBN Holdings, putting him well ahead of his closest rival, FirstBank chairman Tunde Hassan-Odukale, with whom he has been feuding since the news of his share purchases broke in late October.

SOURCE:https://brandspurng.com/2021/12/13/otedola-becomes-largest-shareholder-at-first-bank-holding/

Huawei has successfully trained more than 600 students through the “Seeds for the Future” program in 14 sub-Saharan countries covering emerging ICT technologies such as 5G, cloud computing, and AI, helping them get job ready for the digital economy era.
Seeds for the Future is Huawei’s global CSR flagship program. Launched in 2008, it aims to help nurture local talent, promote knowledge transfer, increase people’s understanding and interest in the ICT industry, and encourage countries and regions to participate in the digital community building.

By 2021, the program has been implemented in 131 countries and territories worldwide, with nearly 9,000 students participating. Since 2014, the program has been held in sub-Saharan African countries. So far, 25 countries in Africa, including Nigeria, South Africa, Kenya and Ghana, have participated in the training, which has so far benefitted more than 1,000 students.

In this year’s training, Huawei has paid more attention to bridging the gender divide in science and technology training. More than one-third of the total number of Seeds candidates were women.

According to the Mobile Economy in Sub-Saharan Africa 2020 report, released by the Global Association for Mobile Telecommunications Systems, sub-Saharan Africa is the fastest growing region in the world, and African countries have entered a rapid developmentof the digital economy era. In this process, ICT technologies are an important engine that drives countries’ development, and mastering of ICT technologies is the engine’s key.

Through programs such as Seeds for the Future, Huawei cultivates ICT knowledge and skills for local youth. During COVID-19 pandemic, the program took place via online learning, and in person where possible. Students were offered the flexibility to access several ICT courses online at their own pace. They were invited to participate in science and technology roundtables, and interact with youth around the world in real time. Through 5G live broadcasts, students were able to join guided tours of Huawei exhibition halls and historic cultural sites in China.

Meanwhile, under the guidance of professional mentors from the Huawei’s Tech4Good program, they were encouraged to design solutions to solve developmental challenges facing eachof their countries, and realize the value of practical application of the theory they had learned.

Other highlights include: In Ghana, nine ICT training sessions were held in junior high schools, senior high schools and universities. Currently, the ICT training program is still under way. In Madagascar, it provided basic digital skills and training to more than 30 women.

Governments in sub-Saharan Africa have also given high interest to the project. The South African government has included a series of talent development initiatives, including Seeds for the Future, in its national digital economy master plan. The heads of state of Uganda, Mauritius, and Malawi have highly praised Huawei’s talent development plan. The President of Mauritius, Prithvirajsing Roopun said Huawei’s project would help build a national ICT talent team, strengthen youth employment capabilities, and support the National Digital Mauritius 2030 Strategic Plan.

SOURCE:https://brandspurng.com/2021/12/12/huawei-trains-over-600-on-students-ict/

BUA Group led by Alhaji Abdul Samad Rabiu has formally unveiled BUA Foods, under which its food businesses are now consolidated.

During the unveiling/media launch of the BUA Foods Plc at the company’s corporate head office in Lagos, Rabiu disclosed that the sugar, flour, pasta, rice and edible oil have all been integrated into the BUA foods.

According to him, BUA Group, one of the largest indigenous conglomerates in Africa, is investing heavily in the nation’s food industry.

“We have built eight ultra-modern factories across the country where we refine and process sugar, flour, pasta products, edible oils, and rice.

“We have a refining capacity of 1.5 million metric tons (MT) of sugar yearly from our two automated sugar refineries in Lagos and Port Harcourt.

“Our flour milling and pasta processing factories have a milling capacity of 576,000MT and 250,000 tons total annual production.

“By the middle of next year, we will commission our new lines in Port Harcourt, and with that, we will have 850,000 tons of flour and another 250,000 tons of pasta.

“That will give us a total of 1.4m tons of flour milling and 500,000 tons of pasta from next year. BUA oil factories in Lagos and Kano produce high-quality oil from groundnut and palm oil.

He stressed, “We have invested in large scale estates within the country to help deepen local sugar production.”

Reacting, Mr Ismail Ajao, the production manager of Royal bite company in Lagos said the BUA flour milling factories will reduce the increasing price of flour.

Currently, he said flour is N22,000 rising from N11,500 some months ago. “If BUA increases its production capacity, it will help in no small way.

“There will be more flour which will force their competitors to also reduce the price of the product,” he said.

SOURCE:https://brandspurng.com/2021/12/10/bua-group-unveils-bua-foods/

Nokia today announced that it has been selected by Teletalk Bangladesh Ltd (Teletalk) to deploy a 5G network in the country for the first time.


The deal supports the government’s digital agenda to drive automation, digitalization, and Industry 4.0 in Bangladesh underpinned by 5G. The new network will drive faster speeds, lower latency, and reliability and support the intelligent transformation of industries including education and healthcare.

In the initial phase of deployment, Nokia will provide equipment from its latest ReefShark System on Chip-powered AirScale equipment portfolio including its 5G AirScale Digital Baseband Unit with a plugin capability to add capacity where it is needed. It will also supply its high-performance 64TRX AirScale massive MIMO Adaptive Antennas to cover all deployment scenarios including dense-urban environments and wide-area coverage.

Teletalk is launching its 5G network to coincide with Bangladesh’s Golden Jubilee of Independence celebrations. Teletalk is upgrading its network including support for rural areas as well as the introduction of 5G networks to the main city areas.

Nokia and Teletalk have been partners since 2004 with the joint deployment of 2G, 3G, and 4G networks. Nokia also supplies transport and core solutions and signed a network expansion and modernization deal.

Md. Shahab Uddin, Managing Director of Teletalk Bangladesh Ltd, commented: “This initiative is important for the future of Bangladesh and in building a digital society underpinned by 5G networks. Our ongoing collaboration and partnership with Nokia are key to us delivering a state-of-the-art network and delivering superior communications services to our customers.”

Mark Atkinson, Senior Vice President, Radio Access Networks PLM at Nokia, said: “We are delighted to continue our longstanding partnership with Teletalk and take it into the 5G era. Teletalk and the Bangladeshi government have broad ambitions to drive societal change through a foundation of 5G networks. The network expansion and modernization initiative will help Teletalk attract new subscribers in the rural region and reduce churn in the urban areas. Our global experience will enable Teletalk to offer enhanced customer experience to its subscriber.”

SOURCE:https://brandspurng.com/2021/12/09/nokia-and-teletalk-bring-first-5g-network-to-bangladesh/

Lana Denina has earned over $300,000 from selling her art as NFTs, or nonfungible tokens, on various platforms since February. However, she had only recently begun to understand what they were.
“I didn’t know anything about blockchain at the time,” the 24-year-old admits to CNBC Make It. She began looking into it, and “my mind was blown,” she says. “It was truly revolutionary.”

Denina, a painter, was immediately impressed with the technology and its ability to serve as a vehicle for proof of ownership for artists. “Traditional galleries are kind of like the old world,” Denina says, referring to the lack of diversity. “I was never completely drawn to it, especially as a woman of color.”

Unlike traditional art markets, NFTs and Web3 enable artists to create their own galleries and set their own prices online, according to Denina.

Denina, who is based in Montreal, Canada, began by selling individual NFTs of paintings she had done, but soon expanded to listing complete collections. Single works are one-of-a-kind, non-generative pieces, but collections are frequently generative and intended to be collectable.

Her most recent collection, the Mona Lana, was released in November and sold out in a matter of weeks.

Denina painted 500 distinct pictures of ladies for the Mona Lana collection. She claims that each portrait was created using code with 112 different features.

“It shot off like a rocket. “I was taken aback,” Denina admits. “I’m not sure if I struck it rich. For me and my girlfriend, it was a huge success. We put a lot of effort into this project and were quite pleased with the results.” Denina collaborates with a partner but does all of the artwork herself. She didn’t say if the profits are shared.

Denina explains that in her art, she represents people of color and Black culture, which has struck a chord with many in the NFT community. Customers who say they opted to get their first NFT after witnessing her work make her very happy.

“They really wanted to get an NFT when they saw the Mona Lana,” she says. “They were looking at other initiatives before that, and maybe they didn’t feel adequately represented.”

Denina plans to donate a percentage of sales to Cyber Baat, a creator DAO collective that promotes African artists, and to women’s shelters in Canada after the Mona Lana collection reaches 100 ether in volume traded. She’s now close, with a volume traded of 99.5 ether.

Denina is doing well in the NFT space and believes it is different from the traditional market, but she believes there is still more to be done in terms of diversity and assistance.

Denina tweeted in November, “As a young woman of color in this environment, it has been 100 times harder to be accepted and considered as equal as the other dudes of this place.” “However, I’ve also met folks who are really supportive, extremely intelligent, and extremely brilliant.”

SOURCE:https://brandspurng.com/2021/12/06/twenty-four-years-old-made-over-300000-selling-nfts/

One of the pillars of Agenda 2063 is the free movement of natural persons on the continent, which is partly predicated on an African passport. However, for many Africans, free movement remains a dream.
“When I go around Africa, I don’t need a visa. I take my African passport and I go,” says Nkosazana Dlamini-Zuma, the former African Union (AU) Commission chairperson who spearheaded the flagship Agenda 2063.

Dlamini-Zuma made the remarks at the recently concluded Intra-African Trade Fair (IATF) 2021 in Durban, where a common observation was the lack of ease of travel for Africans on their own continent.

In addition to administrative teething problems, such as issuance of visas and passports, the region’s ambitions towards realising an ‘open skies’ policy have suffered setbacks, including South African Airways’ weakened position and the potential loss of Addis Ababa as a transit hub because of the internal instability in Ethiopia. The country’s crisis poses a risk to Ethiopian Airlines, which has in recent years emerged as a regional success story.

“[…] On the open skies, for instance, there is policy. It’s for countries now to implement… [For] ease of travel, there is an African passport. When I go around Africa, I don’t need a visa. I take my African passport and […] go,” said Dlamini-Zuma.

Print, print, print
However, the caveat is that it is up to individual countries to print the African passport for their citizens because “the AU doesn’t know the citizens. It’s the countries that do”, said Dlamini-Zuma.

According to the South African minister, “each country must print and say, ‘AU passport South Africa’, ‘AU passport Nigeria’”. She insisted “that [countries printing African passports] will ease [travel], even before visas, because the passport allows you to move”.

Beyond the African passport, she urged a rethink on how Africa views itself as a travel market.
“I think we must see ourselves as domestic in terms of continental, but if we see ourselves as distinct countries then that domestic will disappear. That’s why the EU, if you look at their tourism or anywhere else, the greatest numbers come from their continent,” she added.

Kenny Hlela, a director at the department of tourism in South Africa, says when it comes to open skies, most African countries are defensive.

“We need to take a risk and liberalise the air market, the air space. That’s what Europe did. In fact, America [led] and they started growing. The space became competitive,” says Hlela. However, the same cannot yet be said about Africa and thus, Hlela prescribes a co-ordinated effort to remedy the situation.

Cause of frustration
Wamkele Mene, the general secretary of the African Continental Free Trade Area (AfCFTA) Secretariat, says: “I share your frustrations on the movement of natural persons.”

He echoes Dlamini-Zuma’s sentiments, that an instrument to facilitate free movement of natural persons does exist, and it is currently sitting before AU member states. It is the AU protocol on the movement of natural persons.

However, “regrettably, it has been ratified by only 10 or 11 countries. That means we still have a long way to go before there are legal obligations to enable movement of natural persons”, says Mene. “We know from the experience of the EU that if you want to boost intra-Africa trade, you have to enable movement of natural persons.”

For pre-negotiated categories of business people, free movement around the continent is closer to reality. “… [A] step before the free movement of persons, is movement of businesspersons,” says Mene, who adds that “in the category of trade in services [in the AfCFTA], we have a category of movement of businesspersons.”

“It’s not 100% movement of natural persons, but with this mode four mechanism we will enable businesspersons, pre-negotiated categories of businesspersons, to have access to the whole continent. […] it is a step in the [right] direction while we wait for the protocol on the free movement of persons to be ratified,” he says.

Bureaucratic bother
Thebe Ikalafeng, the chairperson of Brand Africa, has travelled to every country on the continent. “One of the challenges is having to pay for about 30 or so visas just to move around Africa,” he tells The Africa Report.

“[…] sometimes I have to leave the continent to come back to another country in Africa because we don’t have open skies. We don’t have the airlines. We don’t have those conducive ways to make it easy for Africans to travel,” says Ikalafeng.

“I am here [at the IATF 2021] to announce the launch of Africa’s Best Places. I am adding to Africa’s Best Brands, which we have done for the last 10 years, by looking at Africa’s Best Places from a tourism, investment and citizen mobilisation point of view,” he tells The Africa Report.
The big reveal is scheduled for 1 September 2022. “Between now and then, I am putting together a pan-African adjudication, research, and survey team. I am inviting Africans to bring forward those best places,” he says.

States sitting on protocol
At the AU level, the commissioner for trade, Albert Muchanga, cites the protocol on the Abuja Treaty. “That protocol opened for signatures in 2018. At this point, we have about 30-32 countries that have signed the protocol. About four countries have ratified the protocol. It requires a minimum of 15 for it to enter into force.”

When that protocol is in force, “there is going to be free movement of people across Africa – visa free. There’s also going to be an African passport. Each African will decide where to reside or establish a business”, Machunga says. “In addition, there is going to be mutual recognition of academic and professional qualifications.”

As Africans wait for that to happen, the continental body has made moves, “one of which is to provide AU passports to Africans who are always travelling around the continent. Some countries have taken it upon themselves to issue visas on arrival”, says Muchanga.

The AU commissioner for trade concedes that “we are slowly liberalising the movement of people. It’s not going to be done today. It will take some time.”

In-country lobbying required
“During this IATF, that issue of the African passport, that issue of difficulty moving across Africa came up. I listened. I am going to share the concerns with the other members of the commission when I get back to Addis Ababa,” Muchanga says.

“For now, we have taken incremental steps to address that issue. Stakeholders also help us by lobbying your respective countries to sign and ratify the protocol,” Muchanga tells The Africa Report.

SOURCE:https://brandspurng.com/2021/12/04/aus-failure-to-ratify-african-passport-protocol/

For a long time, agriculture has been the mainstay of the African economy. It is a source of employment and livelihood for its people. About 60 per cent of the sub-Saharan population are smallholder farmers, and 23 per cent of the sub-Saharan GDP comes from just agriculture.

Even with these figures, the sector’s potential has not been maximized. Productivity remains a problem for the sector; many farmers lack access to arable lands, good-quality seedlings, fertilizers, and best farming practices.

To bridge the continent’s productivity deficit and meet the needs of its burgeoning population, many agritech companies have emerged across Africa. In 2020, agri-tech startups across Africa raised $59,990,000, representing 8.6 per cent of the total funding secured by tech startups in the year in review.

These startups use cutting-edge technologies like drones, automated irrigation, and soil sensors. They also set up digital systems to help farmers access markets, inputs, insurance, financing, and knowledge. All to one end – increased productivity.

Here are some mission-driven agri-tech companies in Africa you should know about:

AgriProtein (Johannesburg, South Africa)

Jason Drew founded Agriprotein in South Africa in 2016. The company diverts 100 tonnes of organic waste from landfills daily and produce over 2,000 tonnes of MagMeal annually. The company uses insects and technology to convert organic waste into valuable products such as alternative protein for use in livestock and aquaculture feed, natural oil for use in animal feed, and an organic soil enhancer.

Waste collected from landfills is processed and crushed into a paste. Black soldier flies are then brought together in climate-optimized cages to mate on the paste. Usually, the female flies lay about 500 eggs which hatch after about five days, and larvae become scattered over the organic waste. As the larvae increases in weight, the organic nutrients converts into protein. After final processing, MagMeal – a natural organic animal feed with 55 per cent protein – is the end product and is sold for fish aquaculture.

The fat extracted during processing is converted into MagOil, which serves as a health supplement for animals and as biofuel. The organic material left is also transformed into MagSoil, a nutrient-rich compost.

AgriPredict (Lusaka, Zambia)

AgriPredict was founded in 2016 by Cassandra Mtine-Makumbi and Mwila Kangwa. Many farmers on the continent struggle with a lack of timely agricultural information, and this affects their yields. AgriPredict provides farmers with access to information that will help them identify diseases, predict pest infestations and weather conditions. The startup also provides weather predictions to help farmers plan better.

AgriPredict alerts users when a disease or pest infestation is detected in a given area. The mobile application is available for download on the Android platform or via a USSD platform. A farmer can take a photo of a suspected diseased plant and have AgriPredict give a diagnosis, treatment options, and the location of the closest agro-dealer in the area. Marketing is one of the major problems affecting small-scale farmers in Zambia, so AgriPredict connects farmers with markets for fair trade of their commodities.

Aerobotic (Cape Town, South Africa)

Founded in 2014 by James Paterson (CEO) and Benji Meltzer (CTO), Aerobotic is a data analytics company using aerial imagery and machine learning algorithms to optimize crop performance for farmers globally. To use Aerobotics’ tech, farm owners sign up on Aeroview, its cloud-based pest and disease management application. After downloading and signing up, farmers can inspect threats on the ground and view farm analytics data on a machine-learning-enabled platform. Farmers use the data to grow fruits and trees and identify healthy and unhealthy plants. Their service is active in 18 countries across Africa, Asia, and Europe.

Twiga Foods (Nairobi, Kenya)

Twiga Foods is a B2B food distribution company co-founded by Peter Njojo and Grant Brooke in 2014. The company leverages technology, modern distribution and logistics to modernize African retail. It connects farmers with vendors, allowing food to be sourced and delivered throughout Kenya.

The company has reduced typical post-harvest losses in Kenya from 30 per cent to four per cent for produce marketed on the Twiga network. The company has also integrated a fintech product that offers vendors credit to build their businesses. Since its launch in 2014, Twiga Foods has helped over 17,000 fresh food producers by ensuring an average delivery of thrice a week on average to 8,000 retailers.

Farmcrowdy (Lagos, Nigeria)

This agri-tech company is Nigeria’s first digital agriculture platform that connects farm sponsors with real farmers to increase food production. Farmcrowdy was founded by Onyeka Akumah, Akindele Phillips, Temitope Omotolani, Christopher Abiodun, and Ifeanyi Anazodo in 2016.

Although it started as a platform focused on raising finance for small-scale farmers across Nigeria, it has expanded to become a fully digital platform that cuts across all agricultural value chains. It presently operates Farmcrowdy Structured Finance, Farmcrowdy Insurance, Farmcrowdy Marketing, Farmcrowdy Tech and Data, Farmcrowdy Foods, and Farmcrowdy Aggregation. Since it started in 2016, over 11,000 rural farmers have kept their jobs and increased their income by 80 per cent.

Hello Tractor (Nairobi, Kenya)

Hello Tractor is a tractor-sharing platform established by Jehiel Oliver in 2014. The startup’s application collects tractor service requests to assist farmers with limited access to resources in obtaining convenient and affordable tractor services while also providing additional income and enhanced security for tractor owners.

For tractor owners, the platform provides the remote tracking of assets, prevents fraud, and machine misuse through virtual tractor monitoring. Tractor owners on the platform set prices for their services based on average market rates. They get paid a deposit to deploy their tractors and then receive their balance payment following the completion of the service. They earn 90 per cent of the revenue from all services provided. The remaining 10 per cent goes to the booking agent who requested the booking on behalf of the farmer.

AgroCenta (Ghana)

AgroCenta was founded by Francis Obirikorang and Michael K. Ocansey in 2016. AgroCenta connects stakeholders in the staple food value chain from smallholder farmers to buyers under one platform for effective trading. The platform also provides market information, storage and delivery solutions, and financial services to smallholder farmers in Ghana.

The startup operates two integrated digital platforms – CropChain and LendIt, to help address challenges related to smallholder farmers’ access to markets and financial services. Farmers use the platform to advertise their products, while large buyers of selected cereals use it to make purchases or enter long-term offtake purchase contracts with AgroCenta. LendIt allows smallholder farmers to access financial services, such as mobile payments, microloans, crop insurance, and pensions from partnering financial institutions.

Agrimatic (Cairo, Egypt)

With a surging global population, limited arable land, ripple effects of climate change, and lagging agricultural development, food insecurity poses a threat to human existence now more than ever before. The need for an alternative approach to the traditional model of food cultivation is urgent.

Agrimatic is an aquaponic agriculture company founded by Mohammed El Naggar in 2014. The company focuses on providing clean agricultural produce by growing fish and plants together in a closed system that mimics nature, where plants get their nutrition from the treated waste of the fish. Agrimatic rears various fish species and grows a variety of leafy products like lettuce, basil, and arugula. The company hopes to shape a hunger-free world through higher productivity, soil-less technology to ensure food security and sustainability.

Releaf (Akwa Ibom, Nigeria)

Founded by Ikenna Nzewi and Uzoma Ayogu in 2017, Releaf focuses on driving development in Nigeria and Africa’s food system using technology. At various times, the company piloted technologies in trade finance, business finance, commodity linkage between buyers and sellers.

Its current business model is centred on the oil palm industry. The startup buys nuts from farmers, crack the nuts with its proprietary technology called the Kraken, and sell to large food processors. The Kraken technology is modelled to operate at 100 tonnes per day which is 200 times faster than a smallholder farmer with a rock.

Releaf’s mandate is to set up factories near smallholder farmers. This reduces logistics costs and post-harvest losses while increasing processing yields and farmers’ finances.

Agrixtech (Yaounde, Cameroon)

In 2018, Adamou Nchange Kouotou established Agrixtech to tackle crop pests and diseases that hamper agricultural productivity. With Agrixtech’s app, farmers are equipped with the technical know-how to help them adopt a better crop disease management strategy on their farms. The app uses text and voice recognition technology in several local languages to reach farmers with low literacy levels. The app also helps farmers through the agricultural production cycle through advice and task reminders.

ColdHubs (Owerri, Nigeria)

Many smallholder farmers farming fresh produce in Africa cannot access electricity or afford cooling technology. This makes them record increased post-harvest losses. In 2015, Nnaemeka Ikegwuonu established ColdHubs to help such farmers prevent post-harvest losses.

ColdHubs is a solar-powered walk-in cold room for smallholder farmers in farm clusters and outdoor markets to store and preserve fresh produce 24 hours a day, seven days a week, extending their shelf life from two days to more than 21 days. The solar panels on each hub are linked to a battery storage system, allowing the coolers to operate off the grid all day.

ColdHubs is available in 38 locations across 22 states in Nigeria and will soon expand its technology and service to East Africa, Southern African, and some western and Francophone-African countries.

SOURCE:https://brandspurng.com/2021/12/04/11-mission-driven-agritech-startups-in-africa-you-should-know-about/

With report from the United Nation (UN), over 3 billion people have never used the internet, despite the covid-19 pandemic driving people online.
The UN’s International Telecommunication Union (ITU) estimated that 96% of the 2.9 billion people who have not accessed the web live in developing countries.



The agency said the estimated number of people who have gone online rose from 4.1 billion in 2019 to 4.9 billion this year, partially due to a “Covid connectivity boost”. But even among those internet users, many hundreds of millions might only go online infrequently, using shared devices or facing connection speeds that hamper their internet use.

“ITU will work to make sure the building blocks are in place to connect the remaining 2.9 billion. We are determined to ensure no one will be left behind,” said the ITU secretary general, Houlin Zhao.

The number of users globally grew by more than 10% in the first year of the Covid crisis – by far the largest annual increase in a decade. The ITU cited measures such as lockdowns, school closures and the need to access services such remote banking as having an influence.

But the growth has been uneven. Internet access is often unaffordable in poorer nations – almost three-quarters of people have never been online in the 46 least-developed countries.

Younger people, men and urban dwellers are more likely to use the internet than older adults, women and those in rural areas, with the gender gap more pronounced in developing nations.

Poverty, illiteracy, limited electricity access and a lack of digital skills continued to challenge the “digitally excluded”, the ITU added.

“we have a small favour to ask. Millions are turning to the Guardian for open, independent, quality news every day, and readers in 180 countries around the world now support us financially”.

We believe everyone deserves access to information that’s grounded in science and truth, and analysis rooted in authority and integrity. That’s why we made a different choice: to keep our reporting open for all readers, regardless of where they live or what they can afford to pay. This means more people can be better informed, united, and inspired to take meaningful action.

In these perilous times, a truth-seeking global news organisation like the Guardian is essential. We have no shareholders or billionaire owner, meaning our journalism is free from commercial and political influence – this makes us different. When it’s never been more important, our independence allows us to fearlessly investigate, challenge and expose those in power.

SOURCE:https://brandspurng.com/2021/12/04/un-3-of-the-worlds-population-have-never-used-internet/

Nigeria’s leading digitally driven financial institution, Wema Bank today announced the signing of Davido as Brand Ambassador for its digital bank, ALAT By Wema. The bank formalised the partnership at a ceremony on Friday, December 3 when the musician signed the dotted lines.
A few weeks ago, the multiple award-winning artiste raised N200 million when he posted his ALAT account before his 29th birthday and asked industry friends to donate. Subsequently, he personally contributed N50 million and announced plans to donate all funds raised to orphanages across the country.

On Friday, the innovative and customer-centric bank and the musician affirmed their partnership with Davido’s announcement as Brand Ambassador at its corporate headquarters in Lagos.

Speaking at the ceremony, the Managing Director/CEO, Wema Bank, Ademola Adebise, lauded Davido’s artistry, including his body of work and generosity, noting that it takes a genuine altruist to do what he did by giving away all the donations.

He added that Davido’s announcement as their Brand Ambassador affirms the bank’s strategic repositioning efforts and its youth-centric focus.

“We welcome you warmly to our great family, the home of innovators and enterprising people who meet our customer’s needs with innovative products and excellent services that fit their lifestyles and empower their aspirations. You are set for a good time with us, and we assure you this relationship would be mutually beneficial,” Adebise said.

Speaking on the brand ambassadorship and his association with Wema Bank and ALAT. Davido said, “I am excited to join the Wema Bank family and look forward to the great things we will achieve together.”

At the signing ceremony, Davido was taken on a tour of Wema Bank’s corporate headquarters in Marina, Lagos, and was hosted at a cocktail reception at The Wings Complex in Victoria Island.

Speaking at the end of the ceremony, the Head, Marketing Communications and Investor Relations, Wema Bank, Funmilayo Falola, thanked the artist and his management team, while affirming Wema Bank’s commitment to excellent service.

SOURCE:https://brandspurng.com/2021/12/04/wema-bank-signs-davido-as-brand-ambassador/

Three telecoms companies have qualified as bidders of the 3.5 gigahertz spectrum auction for the use of Fifth- generation networks in the country.
In a statement, the commission said the qualified bidders have also met the Intention to Bid Deposit as outlined in the Information Memorandum, and are MTN Nigeria Plc., Mafab Communications Limited, and Airtel Networks Limited.



SOURCE: https://brandspurng.com/2021/12/03/mtn-airtel-gets-approval-from-ncc-for-5g-auction/

Yesterday, Honeywell Group Limited (HGL) and Flour Mills of Nigeria Plc (FMN) announced the signing of an agreement that will see them combine FMN and Honeywell Flour Mills Plc. The agreement was stated to be valued at ₦80 billion is subject to regulatory approval and will see Honeywell Group Limited transfer a 71.69% stake in Honeywell Flour Mills Plc to Flour Mills of Nigeria.
By joining forces, both companies will continue in their effort to boost Nigeria’s food production capacity but at a much higher level. Despite having so much arable land, Nigeria’s food production capacity remains insufficient to cater to its growing population of over 200 million people. The majority of this population growth is happening in urban areas. In 2020, Nigeria’s urban population was 52%. This section of the country’s population has grown steadily over the last 50 years from 18.2 to 52%.

This rising urban population also means an expansion in the volume of middle-income families, which implies a growing need for food that is easy to prepare. Experts predict that the market for ready-made meals will only continue to grow with the population. However, much of this is tied to an improvement in infrastructure and food production capacity.

Speaking about the transaction, Obafemi Otudeko, Managing Director of Honeywell Group Limited, said, “Today’s announcement is in line with the evolution of Honeywell Group and our vision of creating value that transcends generations. For over two decades, we have supported Honeywell Flour Mills to build a strong business with a production capacity of 835,000 metric tonnes of food per annum. Following the transaction, Honeywell Group will be strongly positioned to consolidate and expand its investment activities, including as a partner of choice for investors in key growth sectors.”

Nigeria is ranked 131st out of 190 economies according to the World Bank’s 2020 ease of doing business report. Even though Nigeria’s place in the rankings has improved in recent years, there is still a long way to go. Companies continue to face various challenges, ranging from poor infrastructure, inadequate power supply, a struggling agricultural value chain, increased cost of production, and so on.

All these challenges indicate the need for greater investment in the food manufacturing sector. This combination will help increase Nigeria’s food production capacity and eventually lead to more revenue from exporting finished goods, both of which will significantly impact the country’s GDP and make it more attractive to investors.

In the statement, Omoboyede Olusanya, CEO of Flour Mills of Nigeria, said, “The proposed transaction is aligned with our vision not only to be an industry leader but a national champion for Nigeria. We believe that this will create an opportunity to combine the unique talents of two robust businesses. As a result, we will have a better-rounded and more comprehensive skill set available to us as a combined diversified food business, thus enabling us to better serve our consumers, customers, and other stakeholders, whilst providing employees with access to broader opportunities.”

To further spotlight the potential impact of this transaction on the economy, it is worth noting that food manufacturing is one of the most prolific job-creating sub-sectors in Nigeria. According to the Food and Agriculture Organisation of the United Nations (FAO), the food processing sub-sector has created at least half of all manufacturing jobs in Nigeria.

Flour Mills of Nigeria is the country’s largest flour miller, with a capacity of over 8,000 metric tons per day. The company introduced pasta production to Nigeria in 1999 and has expanded its production capacity from 40,000 metric tonnes to over 350,000 metric tonnes.

Combine this with Honeywell Flour Mills Plc’s production capacity, and this creates a new manufacturing champion in Nigeria. Just last year, Honeywell’s two-year-old pasta production factory in Sagamu delivered 138,600 metric tonnes of pasta and generated over ₦19.08 billion in revenue. Its Apapa and Ikeja plants also generated a combined ₦90.51 billion.

The scale of the proposed combined entity provides greater opportunities for the 17,000 direct and indirect employees and will potentially create many more jobs.

Honeywell Group intends to continue its journey of refining and growing its investment portfolio. This will see it consolidate in sectors where it currently operates, such as real estate, energy, financial services, and infrastructure. It also intends to announce more strategic initiatives in the coming months.

SOURCE:https://brandspurng.com/2021/12/02/honeywell-flour-mills-and-flour-mills-of-nigeria-set-to-boost-nigerias-food-production-with-%e2%82%a680-billion-merger/

TECNO , a premium smartphone brand focusing on global emerging markets, outlined its latest technologies and achievements at a webinar entitled “Global Mobile Camera Trends 2022: Innovation Talk ”. The event was organized with Counterpoint. Webinar speakers addressed developments on mobile imaging technology.

TECNO, highlighted its advances in dark complexion imaging and recent breakthroughs regarding light sensitivity, image and video stabilization, zoom and high-resolution – powered by technologies such as RGBW and G+P, Sensor Shift and Telescopic Lens.

TECNO is Leading the Imaging Technology Innovation Trend

TECNO believes that by Q1 2022 it will have products on the market that will allow users to take studio-quality photos and videos without professional skills. New generation smartphones will enable users to create revolutionary expressive content with distinctive traits which is beyond the capability of traditional mobile cameras.

To achieve these breakthroughs, larger sensor sizes, image and video stabilization, high-frequency anti-shaking capabilities, and continuous lossless zoom will be focuses.

“Leading edge cameras is one of the pillars supporting TECNO’s success in global emerging markets. With ‘Stop at Nothing’ as our brand spirit, our team at TECNO Image Technology is continuously innovating to achieve breakthroughs in mobile imaging technologies,” said Li Jiangtao, Senior Director of TECNO Imaging Product and Head of TAIVOS™ Lab, “Looking ahead, TECNO continues to strive for excellence in AI-enhanced algorithms and software, as well as hardware specifications, to deliver cutting-edge imaging performance.”

TECNO shared several recent achievements in Mobile Camera Technology:

Significant progress in light sensitivity: Cameras on future TECNO phones in 2022 will be powered by a self-developed RGBW sub-pixel rendering algorithm that increases the light captured by the CMOS sensor by 60%. Light intake will be further enhanced by 30% thanks to the G+P (glass + plastic) lens technology, resulting in an overall 200% increase and bringing a revolutionary low-light imaging experience to consumers.

First Android phone to integrate Sensor Shift: TECNO also plans to release its Sensor Shift technology in 2022, making itself the first mobile phone brand in Android system to do so. Sensor Shift is an image stabilization technology that uses sensor movements instead of lens movements to compensate for vibrations. In the future, the control accuracy of TECNO’s Sensor Shift will reach 350% of the current level with further algorithm optimization. Then, consumers will be able to take studio-quality photos with more stability.

Concept Phone with a telescopic lens in Q1 2022: The telescopic lens has the advantage of large aperture and continuous lossless zoom. Consumers will benefit from better quality for profile and telephotograph, as well as its multi-purpose functionality. Moreover, compressed back focal length (BFL) design with motorized stretchable lenses will significantly reduce the thickness of the phone, integrating consumer’ demands for simple appearance and high performance. TECNO’s concept phone with a telescopic lens will come out in Q1 2022.

TECNO is renowned as the industry leader and standard setter for dark complexion imaging. It is a leader in emerging markets, to empower consumers to express their lifestyles through imaging innovation.

SOURCE:https://brandspurng.com/2021/12/01/tecno-shared-recent-breakthroughs-in-mobile-camera-technologies/

MTN Nigeria on Tuesday announced that it is o public offer of 575 million shares at N169 per share with effect from Dec.1 and closes on the 14th of December
Chief Executive Officer, Mr Karl Toriola, told Brandspur in Abuja that the “Retail Offer’’ which is to be delivered via a digital platform is the first in Nigeria.

Toriola said that by using the power of technology, MTN aims to facilitate the maximum possible participation by Nigerian investors.

He said that minimum subscription would be for 20 shares and subsequent subscriptions would be in multiple of 20 shares.

He added that it would include an incentive in the form of one free share for every 20 shares purchased.

“The offer includes an incentive in the form of one free share for every 20 shares purchased, subject to a maximum of 250 free shares per investor.

“The incentive is open to retail investors who buy and hold the shares allotted to them for at least 12 months, post the allotment date.

“The success and growth of MTN Nigeria is intrinsically linked to that of Nigeria and Nigerians,’’ he said.

Toriola said, however, that MTN had much more to do to support the evolution of an inclusive digital economy.

He noted that the company would continue to invest as it evolves into a truly digital operator capable of seamlessly integrating value across evolving telecommunications, digital and Fintech segments.

In his remarks, MTN Group President and Chief Executive Officer, Mr Ralph Mupita, said the offer aligned with MTN Group’s strategic priority to create shared value.

“In the last 20 years, we have worked diligently to connect 68 million subscribers onto voice and data networks and ensure that we deliver the benefits of a modern connected life.

“With this Offer, we will contribute to further deepening of Nigeria’s equity market.

“It is the first in a series of transactions as the MTN Group implements its plans to ensure broad-based ownership by reducing its shareholding in MTN Nigeria to 65 per cent over time,’’ he said.

The CEO of Nigerian Stock Exchange Ltd., Mr Temi Popoola, expressed optimism in the offer by MTN, noting that there was no doubt in the success of the transaction.

Popoola said that the exchange had invested substantial amount of human resources to get this transaction to the present level.

He noted three key areas that the transaction would be beneficial to the capital market which were: investors’ confidence, number of investors exchange in the capital market and end-to-end digital transactions.

“One of the things that excite us about this is investors’ confidence. This will change the face of the capital market investment of the nation.

“For a long time we have spoken about the absence of retail in our capital market, particularly at the Exchange.

“We have spoken about the absence of certain demographic and geographic representation of Nigerians.

“This deal will address confidence, financial literacy and a lot of publicity that will come with this will drive this confidence.

“Part of our dream and hope is that this transaction will single-handedly change to multiples of what we have which is remarkable,’’’ he said.

Popoola urged to the media to enlighten the public through reportage on the importance and benefits of buying the shares.

He commended the Nigerian Communications Commission and other stakeholders for making the offer a reality.

He said that further details and full directory of authorised receiving agents could be found at www.mtnonline.com/PO.

SOURCE:https://brandspurng.com/2021/12/01/mtn-offers-575m-shares-at-n169-per-share-to-the-public/

Tel Aviv, Israel, is now the most expensive city in the world to live in, according to a biannual report by the Economist Intelligence Unit.

The Israeli city topped the EIU’s December 2021 worldwide cost of living index for the first time ever, climbing up from fifth place last year.

The EIU said that Tel Aviv rose up the rankings mainly because the Israeli currency, the shekel, had soared, “buoyed against the dollar by Israel’s successful Covid-19 vaccine rollout.”
Israel had one of the fastest Covid-19 vaccination programs in the world. According to figures from Our World in Data, 62% of Israel’s population were fully-vaccinated as of Monday. In early November, the Israeli shekel was up 4% against the U.S. dollar year-to-date, according to Reuters, but has since trimmed those gains.

Around a tenth of goods rose in cost in Tel Aviv, in the EIU’s latest research, which looked at the prices of over 200 products and services in 173 cities.

More broadly, the EIU said that the inflation rate of the prices it tracked had risen by 3.5% year-on-year in local currency terms to September 2021, up from just 1.9% in 2020. It said this represented the fastest pace of inflation in its index over the past five years.

Supply chain issues, fluctuations in currency exchange rates and changes in consumer demand led to this rise in prices for commodities and other goods, the EIU said. Transport saw the biggest rise in cost, with the price of gasoline per liter up by 21% on average in 2021, according to the research.

Upasana Dutt, head of worldwide cost of living at the EIU, said that prices were expected to rise further across many cities over the coming year, as pay increased.

“However, we are also expecting central banks to raise interest rates, cautiously, to stem inflation,” she said, adding that these price increases should, therefore, start to moderate from the current levels.

The French capital of Paris fell down to second place in the rankings, followed by Singapore. Rome, Italy, saw the biggest fall in the rankings, thanks to a sharp decline in the cost of groceries and clothing.

SOURCE:https://brandspurng.com/2021/12/01/tel-aviv-the-most-expensive-city-in-the-world/

Access Bank Plc. within the past nine months has hit the highest gross earnings of N693.1bn while Wema had the lowest gross earning of N63.08bn.
A total of N2.64tn in the first nine months of 2021 according to data collated from the third quarter earnings of the banks.

This is N132.64bn increase from what the banks made in the corresponding period of 2020. In 2020, the banks had a gross earning of N2.50tn.

The nine banks under review are Zenith Bank Plc, Access Bank Plc, Guaranty Trust Bank Plc, Stanbic IBTC Bank, Sterling Bank Plc, Wema Bank Plc, United Bank for Africa Plc, Union Bank of Nigeria, and Fidelity Bank Plc.

Access Bank also witnessed the most growth in its gross earnings. The bank’s gross earnings increased by N100.3bn from N592.8bn in September 2020 to N693.1bn in September 2021.

Stanbic IBTC witnessed the most drop in gross earnings, with the bank’s earnings dropping by N36.7bn from N183.3bn in 2020 to N146.6bn in 2021.

In the period under review, Zenith had a gross earning of N518.67bn, an increase of N9.69bn from the N508.98bn it had in 2020.

GTB had a gross earning of N318.51bn in 2021, N11.45bn lower than the N329.96bn it had in 2020.

With a reduction in gross earning year-on-year Stanbic IBTC witnessed N36.7bn in gross earnings and fell from N183.3bn in 2020 to N146.6bn in 2021.

Sterling witnessed a N7.32bn increase in gross earning as its gross earnings rose from N101.85bn in 2020 to N109.16bn in 2021.

Wema also witnessed a N5.25bn increase. Its gross earnings rose from N57.83bn in 2020 to N63.08bn in 2021.

UBA had a gross earning of N490.3bn in 2021, an increase of N35.9bn from the N454.4bn it had in 2020. Union bank had a gross earning of N121.8bn in 2021, an increase of N3bn from the N118.8bn it had in 2020. Fidelity had a gross earning of N174.35bn in 2021, an increase of N19.32bn from the N155.03bn it had in 2020.

In Access ‘Group unaudited results for the nine months ended 30 September 2021’, Chief Executive Officer, Herbert Wigwe, attributed the growth in the company’s gross earnings to an increase in net interest income.

He said, “The group achieved a 17 per cent y/y growth in gross earnings to N693.1bn (9M 2020: N592.8bn), leading to an improvement in the profit after tax y/y to N121.9bn (9M 2020: N102.3bn).

SOURCE:https://brandspurng.com/2021/11/29/access-bank-and-other-commercial-banks-earnings-hit-n2-6tn-in-nine-months/

A Nigerian impact investment company, All On, Odyssey Energy Solutions, and Global Alliance for People and Planet have announced the launch of a global aggregated procurement programme for renewable energy companies, supported by a $10m financing facility, in Nigeria.
Speaking with the Managing Director of Innovation for the Alliance, Eric Wanless, he said, “We are excited to launch the DART program in Nigeria as an important part of the Global Energy Alliance for People and Planet, which is accelerating the transition to renewable energy access for all, reducing emissions and creating jobs.

“Aggregating the procurement of standardized DRE products will ensure low-cost, reliable, and clean energy is empowering people and businesses in Nigeria.”

According to the statement, the equipment finance facility for Nigeria is seeded by matching investments of $5m from All On and The Alliance respectively.

Also the new Demand Aggregation for Renewable Technology programme would ensure that affordable, high-quality solar products reach the communities most in need in Nigeria, before piloting the programme in four additional countries in Africa.

“The programme aims to accelerate the growth of the renewable energy sector in Nigeria and beyond by combining demand pooling and aggregated purchasing of solar equipment, access to affordable finance, and coordinated logistics processes to unlock economies of scale for solar companies and achieve cost savings for end users,” it said.

It said the All On-managed finance facility would provide debt funding for solar companies already approved by the Rural Electrification Agency for the Nigeria Electrification Program to purchase lower-cost solar equipment through the DART.

“We are particularly excited about this deal which will inject much-needed capital into the renewable energy

SOURCE:https://brandspurng.com/2021/11/29/10m-launch-of-solar-financing-facility-begins-in-nigeria/

Thirty one firms have benefitted and also offer letter being sent from the N2bn MSME Fund from the Edo State government in cooperation with the Bank of Industry.
Governor Godwin Obaseki established the Edo State MSME Fund to assist qualifying Micro, Small, and Medium Enterprises (MSME) in Edo State with financial and support services.

The investment is envisaged to benefit over 50,000 firms in Edo State.

.Mrs. Ukinebo Dare, Managing Director of the Edo State Skills Development Agency (EDOJOBS), who spoke on behalf of Governor Godwin Obaseki at the handing over of the offer letters, said the fund is the result of collaboration between the Edo State Government and the Bank of Industry to help grow and develop businesses in the state.

Seebuck Leather Ventures, Prospect Farms, MS Above Enterprise, EDHIR Global Nigeria, and Global Ehimax Trading are a few of the companies that received the funding

SOURCE:https://brandspurng.com/2021/11/28/31-firms-benefit-from-n2bn-msme-fund/

According to a statement issued by the Governor of the Bank of Tanzania, Florens Luoga, the African nation is reportedly making plans to issue its own central bank-issued digital currency (CBDC).

Tanzania Prepares To Launch Its CBDC
As many African nations continue to tap into the digital currency initiative, Tanzania may be finally ready to follow suit too.

According to a report by Bloomberg on Friday, Florens Luoga revealed that Tanzania may be taking a cue from Nigeria by fast-tracking its plans to roll out its own CBDC. Luoga insists that plans are ongoing for the launching of the digital shilling — Tanzania’s currency since 1966.

But Tanzania will not be in a haste to launch the CBDC. According to the governor, the country is presently planning to research more deeply into digital currencies, as part of its efforts towards launching properly. All things being equal, the success of the current plans would mean that Tanzania would become one of the pioneering African countries to roll out a CBDC.

Who’s Next To Issue Out A CBDC?
It looks like quite a good number of industry experts are predicting China to be the next major economy to launch its CBDC. The central bank of China had started its digital currency testing since April 2020 and is planning an even bigger trial during the Beijing Winter Olympics in 2022.

But Luoga insists that Tanzania’s drive to launch the digital shilling was informed by Nigeria’s successful launch of its own CBDC, the eNaira. Nigeria successfully launched the eNaira last month, becoming only the second CBDC to be fully accessible to the public, right after Bahamas — which launched its own central bank digital currency, back in October 2020.

Meanwhile, at the moment, cryptocurrencies remain banned in Tanzania following a directive from the country’s apex bank in November 2019, declaring the digital assets ‘unrecognized by local law’.

SOURCE:https://brandspurng.com/2021/11/27/tanzania-to-launch-its-digital-currency/

Bolt has announced its partnership with Metro Africa Express (MAX), in an effort to expand vehicle financing programme within Nigeria.
In a statement disclosed by MAX’s Chief Financial Officer, Guy-Bertrand Njoya.

He stated that “Leading ride-hailing platform, Bolt has partnered with Metro Africa Express- (MAX) the largest vehicle subscription platform for low-to-zero emission vehicles in Africa – to expand the Bolt vehicle financing program in Nigeria,” the statement reads.

He said the scheme is part of Bolt’s commitment towards enabling drivers to own vehicles with low equity repayment with support and improve earnings for drivers while allowing them to maintain flexibility as vehicle owners.

According to Njoya, Bolt partnership with MAX will launch a lease-to-own framework for e-hailing drivers to lease a vehicle and pay in installments until full ownership is secured.

Mr Njoya further explained that the partnership will help Nigerian drivers to increase their efficiency by accessing a variety of value-add services which include access to low-to-zero emission vehicles; licenses and permits, insurance; affordable health coverage, and other financial products.

In his remarks, , Bolt’s country manager, Femi Akin-Laguda said; “We launched our vehicle financing scheme early this year to enable drivers to own a car or motorbike with low equity repayment and have decided to expand the scheme to create opportunities for more prospective drivers.”

As regards the partnership with Max, he said we are looking to expand our commitment to helping drivers on the Bolt platform to earn more and at their own pace, either driving full time or part-time.

“Drivers are fundamental to our business operations, and it is important to provide solutions that ensure that driving on Bolt is flexible and profitable because improving partner earnings is fundamental to sustaining the trust and loyalty that we have earned over time,” he said

SOURCE:https://brandspurng.com/2021/11/27/bolt-in-partnership-with-max-set-to-help-drivers-own-vehicles/

With a landmass bigger than India, China, the US and Europe combined, few doubt the scale of the African continent and its resources. However, until recently, only some have seen it as the growth market that it is fast becoming.

Africa has grown its economy by five per cent annually over the last decade. With its population steadily growing towards two billion, the continent is projected to have the largest workforce by 2040. Also, with a collective GDP of $2.6 trillion by 2020 and $1.4 trillion of consumer spending, many see the impact of around 500m new middle-class consumers.

After witnessing its worst recession in half a century in 2020, Africa’s economy is forecast to grow at a healthy pace of 3.8 per cent in 2021, driven by rising global demand as restrictions are eased, untapped market opportunities, a rebound in commodity prices and a rise in oil prices.

While Africa’s vastness and diversity allow for entrepreneurship to flourish across communities, it also poses challenges to creating universal solutions for issues such as poverty and food security, because each country has its unique capacity for innovation. For instance, while Ethiopia, Uganda, Ivory Coast, Egypt, Ghana, Rwanda and Kenya ranked in the top 10 fastest growing economies worldwide in 2020, the continent still holds some of the poorest nations in the world.

African economies are not the same in design. We have the oil exporters: Nigeria, Angola, Libya and Algeria; and the more diversified economies found in Egypt, South Africa and Morocco. Then there are countries transitioning from agricultural to manufacturing and service economies, such as Kenya, Tanzania, Ghana, and Cameroon.

In a bid to diversify away from resources, several nations have been pushing hard to grow other sectors of the economy. For example, while Nigeria remains very much an oil-exporting economy, its service sector now accounts for 60 per cent of its GDP. Its film industry, Nollywood, was valued at $3.6 billion in 2016 and is projected to be worth $6.4 billion by 2021.

In Angola, Africa’s second-largest oil exporter, fishing, agriculture and manufacturing growth now means that a third of government revenue comes from non-oil sources. After the success of m-Pesa mobile payments in Kenya in 2007, many African states have become world leaders in fintech adaptation.

In addition to government support, Africa is attracting global investors due to its vast resource base and untapped market options. Recently the UK pledged to invest $4.5bn in Africa by 2022, which is expected to create jobs and accelerate economic activities.

When we probed into whether Nigeria needs a stronger naira, we mentioned that GDP per capita is a more effective way to measure an economy. Based on steady growth in GDP per capita over the last decade, here are the top five most prospective African countries to watch.

Mauritius
Aided by an extremely favourable tax regime, the GDP per Capita in Mauritius is equivalent to 72 per cent of the world’s average. The financial sector remains one of the main drivers of Mauritius’ economy – notably through cross-border investment activities and banking services. Between 2011 and 2020, Mauritius improved its GDP per capita consistently from $8123.6 to $10,644. Mauritius is such a politically and socially stable economy that it is ranked 21st among the most peaceful countries in the world. Also, the country recently signed a trade agreement with China, making its transportation and financial sectors even more prospective.

Morocco
In 2011, the North African country’s GDP per capita stood at $2948.84. Since then, it has witnessed constant growth in its GDP per capita, save for 2020. Morocco’s GDP per capita is expected to reach $3,240 by the end of 2021. According to Trading Economics, it is projected to trend around $3350 in 2022.

Morocco’s economy benefits largely from political stability. In less than a decade, Morocco rose from 114th to 53rd on the ease of doing business rankings. Global Data expects Morocco to be the fastest-growing major economy in Africa.

Rwanda
Since 2000, Rwanda’s economy has grown at an impressive average of six per cent year over year. The East African country is reaping from the efforts it has made to improve its operating environment. Rwanda ranks second in the world for ease of property registration, behind only New Zealand. Rwanda’s GDP per capita maintained an upward trend from $630.93 in 2011 to $834.39 in 2020. Trading Economics expects Rwanda to become wealthier than ever next year, with its GDP per capita around $870 in 2022 and $890 in 2023.

Kenya
Kenya is one of the leading tech hubs in Africa. Nicknamed the Silicon Savannah, Kenya’s economy has been on an upward trajectory in recent years, growing between five to six per cent. According to the World Bank, it is one of the world’s top performers in Starting a Business and Getting Credit.

Kenya moved steadily from a GDP per capita of $1,202.12 in 2011 to $1,513.44 in 2019. Despite the economic downturn of 2020, it stood at $1,475. The East African country’s GDP per capita is projected to reach $1550 in 2022 and $1600 in 2023.

Cote D’Ivoire
Regarded as Francophone West Africa’s economic hub, Ivory Coast is the world’s largest exporter of cocoa beans. Despite a dramatic economic decline in 2020, GDP per capita stayed slightly below the previous year’s record high. Between 2011 to 2020, its gross GDP per capita steadily ascended to $2,310 from $1,526. Analysts expect Ivory Coast’s GDP per capita to reach 2330.00 USD by the end of 2021. They also project $2360 in 2022 and $2400 in 2023.

Written by Oluwatosin Ogunjuyigbe

SOURCE:https://brandspurng.com/2021/11/27/the-top-five-most-prospective-african-countries-to-watch/

The Central Bank of Nigeria (CBN) has left the Monetary Policy Rate unchanged at 11.5 per cent.
The CBN Governor, Godwin Emefiele, disclosed this after the committee’s two-day meeting in Abuja on Tuesday.

Announcing this at the committee’s decision, Emefiele said that the parameters have supported he growth recovery.

“The MPC believes that the existing parameters have supported the growth recovery and should be allowed to continue for a little longer for consolidation to achieve the committee’s mandate of price stability conducive for growth.

“Therefore by unanimous vote, the MPC voted as follows, one, retain MPR at 11.5 per cent; retain the asymmetric corridor of +100/-700 basis points around the MPR; retain the CRR at 27.5 per cent; and retain the Liquidity Ratio at 30 per cent.

Other parameters left unchanged are the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.

He noted that the Committee believed that tightening or losing the rates at this time would be unfavourable to the country’s economic recovery.

SOURCE:https://brandspurng.com/2021/11/26/cbn-retains-11-5-lending-rate/

A well-developed charging infrastructure forms the very backbone of electrified mobility. That is why IONITY is investing around 700 million euros to install more than 5,000 additional fast-charging points by 2025.

As such, the joint venture – in which Volkswagen, with its Porsche and Audi brands, has a stake – is creating more than 1,000 locations for fast charging at up to 350 kW. A new flagship concept from IONITY and the new “Plug & Charge” functionality available on Audi e-tron models are also designed to enhance convenience and the charging experience.

Whether it’s charging options at home, route and range planning, or the multitude of different providers and access to charging stations on the road, e-mobility raises questions that confront newcomers to the world of electric vehicles.

As a premium supplier, Audi takes a holistic approach and has had its customers’ needs in the field of electric-powered mobility in mind since the launch of the Audi e-tron in 2019. For example, when it comes to home charging solutions, Audi advises customers and even arranges an installation service upon request.

In addition, Audi has access to more than 280,000 charging points across Europe through its e-tron Charging Service and is committed to expanding the use of green power. Furthermore, IONITY – in which Volkswagen, with its Porsche and Audi brands, has a stake – continues to expand its charging network in Europe.

SOURCE:https://brandspurng.com/2021/11/25/charging-with-audi/

Leading integrated Information and Communication Technology (ICT) giant, Zinox Technologies Ltd. has been crowned the pioneer 2021 Technology Company of the Year by the Nigeria Computer Society (NCS), the umbrella organization of all Information Technology professionals, interest groups and stakeholders in Nigeria.
Zinox was accorded the award at the National Information Technology Merit Awards (NITMA) held at the Muson Centre, Onikan, Lagos on Thursday, November 18, 2021.

The well-organized event had the crème of personalities in the Nigerian tech sector in attendance, including the Deputy Governor of Lagos State, Dr. Obafemi Hamzat who represented the Lagos State Governor at the event. The Deputy Governor was also honored with the Fellowship of the Nigeria Computer Society (NCS).

Notably, the Technology Company of the Year award marks another addition to a long list of local and international honours and recognitions received by Zinox in its two decades of exceptional leadership and disruptive dominance in the ICT ecosystem in Sub-Saharan Africa. Interestingly, the latest award comes on the heels of the 20th anniversary of the company.

On hand to pick up the award was Chairman, Zinox Group, Leo Stan Ekeh, who was physically present at the event.

Speaking at the well-attended event, NCS President, Prof. Adesina Simon Sodiya, hailed Zinox as a force to be reckoned with in the global ICT space, even as he described the company as a leader in the Nigerian tech space and a fitting winner of the pioneer Technology Company of the Year at the NITMA awards.

Furthermore, the University don, who doubles as the Head, Information Security and Intelligent Computing Group, Department of Computer Science, Federal University of Agriculture, Abeokuta, Ogun State noted that the landmark strides recorded by Zinox in the technology space since inception has served to inspire many other entrepreneurs.

In his acceptance speech while receiving the award, Ekeh, Chairman, Zinox Group, commended the organizers of the event for a well-orchestrated event.

Additionally, he expressed gratitude to the NCS, which he described as his professional constituency and the planning committee of the NITMA awards for nominating Zinox for the much-coveted Technology Company of the Year award. Also, Ekeh thanked the members of the NCS for voting for the company and considering it a worthy winner of the award.

‘‘On behalf of the Zinox Group, I am grateful to the members of the NCS and the organizers of the NITMA awards for this award. This recognition is another prestigious one which will serve to further energize the management of the company in its task of putting Nigeria on the global technology map,’’ he stated.

The event also witnessed the award of professional and honorary fellowship conferment on a few deserving awardees, as well as the launch of the NCS Innovation and Development Fund.

SOURCE:https://brandspurng.com/2021/11/25/zinox-bags-2021-technology-company-of-the-year-award/

Brands under the corporate entity of MultiChoice, Seven-Up Bottling Company (SBC), The LaCasera Company, Access Bank and others stood out like stars at the Brandcom Awards 2021 for their outstanding performance in their industry.

Also, four industry achievers were honoured, and they were all inducted into the Brandcom hall of fame. They four doyens are Seni Adetu, Founder/GCEO, First Primus West Africa Limited; Udeme Ufot, Group Managing Director, SO&U; Yomi Badejo-Okusanya ,Group Managing Director, CMC Connect Burson Cohn & Wolfe; and Ayo Oluwatosin, Group Managing Director, Rosabel Group.

The Brandcom Award which is in its third edition was held at the D’Podium Event Centre and had the crème de la crème of the industry. It was a night of fun and laughter and can best be described as a night of prestige, integrity and credibility.

For the Corporate brands award category, MultiChoice’s DSTV emerged Most Outstanding Brand of the Year as well as The Most Outstanding Pay TV Brand of the Year.

Similarly, its TV Reality show, Big Brother Naija emerged Most Engaging TV Content of the Year; as well as The Most Engaging Reality TV Show of the Year.

Seven-Up Bottling Company (SBC) brands also won big with Pepsi emerging the Most Outstanding Carbonated Soft Drink Brand in Consumer Engagement; also for its ‘for the love of it’ campaign, Pepsi clinched the Most Outstanding CSD Campaign of the Year; Superkomando Energy Drink won Most Outstanding Brand Launch of the Year; and 2sure Soap & 2sure Liquid wash emerged Most Outstanding Brand Extension of the Year.

The LaCasera Company brand, Smoov emerged Most Outstanding Chapman Drink Brand of the Year; Nirvana campaign on ‘Headline of Innocence’ clinched Most Outstanding Social Impact Campaign of the Year; La Casera won Most Outstanding Brand Refresh Campaign of the Year; and Bold Drink won Fast Rising CSD Brand of the Year.

Access Bank Plc also won big, clinching Best Brand in Sustainability; Most Outstanding Sustainability Team of the Year (Financial Services); and Most Outstanding SME Friendly Bank of the Year.

Some of the agencies that excelled at the awards include: Noah’s Ark named Most Outstanding Creative Advertising Agency of the Year; while GDM Group emerged Most Outstanding Marketing Innovation Group of the Year among others.

Also, individuals and top brand handlers were honoured for their outstanding performance in the year under review. Some of the awards are Most Outstanding Corporate Communications Professional of the Year (Financial Services) won by Amaechi Okobi, Group Head, Communications & External Affairs, Access Bank Plc; Most Outstanding Corporate Communications Professional of the Year (PAY TV) to Caroline Oghuma, Executive Head, Corporate Affairs, MultiChoice Nigeria among others.

Speaking on the award, Joshua Ajayi, Convener of Brandcom Awards and Publisher of Brand Communicator said, “We are indeed happy at Brand Communicator, to have taken up the challenge of creating a respectable platform that recognises and rewards excellence in this very vibrant industry.

“Distinguished guests, we have always felt this industry deserves better, hence we came up with the maiden BRANDCOM Awards in 2019. This year, we have expanded the scope and categories of the awards to make it bigger and much more prestigious.
“In line with our tagline of Prestige, Integrity, and Credibility, we had a panel of assessors set up to painstakingly review our nominations. The result is all the agencies, brands, and individuals here present to receive one form of recognition or the other for their performances this year despite the challenges and peculiarities that came with the year 2021.”

SOURCE:https://brandspurng.com/2021/11/24/multichoice-sbc-lacasera-access-bank-others-shine-at-brandcom-awards-2021/

Rockgarden foundation has named her Bursary Award for less privileged children after Bolaji Esan, the Founder of Brand Spur who passed away three months ago. Bolaji Esan was an ally to the dream and it would therefore be a great way to keep his memory alive.

Rockgarden Foundation is on the verge of contributing to this course by helping indigent children get quality access to good training right from an early age.

The foundation has an initiative of sending children back to school rather than having them give financial excuses for being in the street. We give out stationery, books, socks, school bags, and other basic schooling materials to these children every year and this year is no different.

Prior to his Death, he was easy going and he believed in doing good deeds to everyone around him. A visionary and an award-winning entrepreneur whose passion for developing businesses and talents knew no bound.

The Bursary which was given during the month of October is to help children of indigent families reduce the burden of expenses required to keep children in school so as to ensure they are not withdrawn from school.

Bolaji Esan was a great lover of children and had spent himself so much in keeping the less privileged in school. He was ever supportive of the foundation, so in his memory, we gave bursaries to five indigent children who had been kicked out of school.

By doing this one of the students who had been out of school for a while was taken off the streets and back to school.

The bursary award has been given to five students so far and there are plans to expand it to many more students and children in the future.

The foundation has also agreed to enroll Uche in a government secondary school after his encounter with our foundation. The Principal was kind to us and very glad to have someone like Uche being helped back to school. He wrote his entrance examination, got placed in a class and the foundation took care of all his bills.

Our goal is to see Uche and the other children finish their secondary school education and even get to higher institutions, no matter what it may cost.

We are not alone in this course, therefore we will not forget to mention the support gotten from Bolaji’s friends during the outreach. You all have been amazing and the foundation is super grateful for your support. Also, to all our donors all over the country, we say thank you. Thank you for believing the vision of our foundation and helping these young ones back to school.

SOURCE:https://brandspurng.com/2021/11/24/rockgarden-foundation-names-bursary-award-after-bolaji-esan/

Nigerian Communications Commission (NCC) has said that less than 3,000 individuals are using the Special Number Service (SNS), which was introduced 15 years ago.

The NCC, because of the lackluster growth, is taking steps to ensure sustainability, profitability and fair competition in the SNS segment of the nation’s telecommunications sector.

To institute viable growth, the commission held a stakeholders’ forum on the ‘Determination of Call Termination Rate for Special Numbering Service Providers in Nigeria.

Representatives of Mobile Network Operators (MNOs), SNS providers and other stakeholders attended the forum, held at the Conference Room.

While addressing the participants, Yetunde Akinloye, director, Policy, Competition and Economic Analysis at NCC, said the meeting was convened following the extensive work of a committee set up by the commission to look into the issues and complaints emanating from the SNS segment of the telecoms market. A key concern was the perception of the high cost of delivering services to end-users in the SNS segment.

“The SNS has been in existence for the past 15 years, with some licensees actively engaged in the segment. However, we have noted some observations and complaints from different quarters on the use of these numbers. We have observed, for instance, that there has been no effective utilisation of the numbers,” she said.

Also speaking during the meeting, Bako Wakil, director, Technical Standards and Network Integrity, NCC, lamented that the SNS segment of the market has not been fully maximised because of the cost elements involved.

Conversely, he said, if the cost could be reduced, there would be greater benefits from economies of scale. “So, there has to be a way of making people use the service more if the price is appropriate.”

SOURCE:https://brandspurng.com/2021/11/24/ncc-less-than-3000-people-use-special-numbers-in-nigeria/

TotalEnergies Marketing Nigeria Plc has announced that in conjunction with InTouch and other partners, it has deployed “Touch Point” to over 385 stations.

Touch point, it stated, is a mobile payment financial-inclusion solution, which it offers to capture the banked and unbanked populations in rural, sub-urban and urban communities nationwide including Lagos, Abuja, Port Harcourt, Kano, and Kaduna.

“There are currently five service bouquets being offered at the stations – Airtime, Data, Bills Payment, Cash Deposit and Cash Withdrawal. TotalEnergies journey as a company has, over the years, evolved beyond a fueling station to a solutions provider and hence, this value-added service offering.

“This partnership is in furtherance of our effort to offer convenience to our customers and live up to our commitment of being a one-stop service station where customers can access various goods and services across the country.“

Touch Point offers our customers, convenience, a 7-day accessibility to a variety of services and a brand name that is trusted.

“In view of the growing need for the integration of banks and other financial institutions with innovators and customers in the financial services space and the increasing adoption of Application Programming Interface (“API”) based integrations in the industry, TotalEnergies has partnered with organizations from different sectors of the economy to provide Touch Point, a robust financial solution that can be enjoyed in more than 385 stations nationwide with the plan to expand our footprint in the nearest future,“ it stated.

SOURCE:https://brandspurng.com/2021/11/22/totalenergies-introduces-open-banking-to-service-stations-rural-areas/

Zero emissions and, soon, zero crew: the world’s first fully electric autonomous cargo vessel was unveiled in Norway, a small but promising step toward reducing the maritime industry’s climate footprint.
By shipping up to 120 containers of fertilizer from a plant in the southeastern town of Porsgrunn to the Brevik port a dozen kilometres (about eight miles) away, the much-delayed Yara Birkeland, shown off to the media on Friday, will eliminate the need for around 40,000 truck journeys a year that are now fuelled by polluting diesel.

“Of course, there have been difficulties and setbacks,” said Svein Tore Holsether, chief executive of Norwegian fertiliser giant Yara.

“But then it feels even more rewarding to stand here today in front this ship and see that we were able to do it,” he said, with the sleek blue-and-white vessel moored behind him in an Oslo dock, where it had been sailed for the event.

The 80-metre, 3,200-deadweight tonne ship will soon begin two years of working trials during which it will be fine-tuned to learn to manoeuvre on its own.

The wheelhouse could disappear altogether in “three, four or five years”, said Holsether, once the vessel makes its 7.5-nautical-mile trips on its own with the aid of sensors.

“Quite a lot of the incidents happening on vessels are due to human error, because of fatigue for instance,” project manager Jostein Braaten said from the possibly doomed bridge.

“Autonomous operating can enable a safe journey,” he said.

While the distance the Yara Birkeland will cover may be short, it will face many obstacles.

It will have to navigate in a narrow fjord, and sail under two bridges while managing currents and heavy traffic from merchant ships, pleasure craft and kayaks, before docking at one of Norway’s busiest ports.

The next few months will be a learning period.

“First of all, we have to detect that there’s something there. We have to understand that it’s a kayak, then we have to determine what to do with that,” said Braaten.

“Currently, large vessels don’t do much with a kayak. They can’t do much. They can warn, but they cannot manoeuvre away” or reverse to avoid an incident.

Autonomous navigation will require a new set of regulations that do not exist yet.

On board the Yara Birkeland, the traditional machine room has been replaced by eight battery compartments, giving the vessel a capacity of 6.8 MWh — sourced from renewable hydroelectricity.

“That’s the equivalent of 100 Teslas,” says Braaten.

Despite that, the sector has seen a rise in recent years.

International and domestic shipping and fishing combined, the industry emitted more than one billion tonnes of greenhouse gases in 2018, up from 962 million tons in 2012, according to the latest figures from the International Maritime Organization.

By itself, the Yara Birkeland’s contribution to global climate efforts will be just a drop in the ocean — eliminating 678 tonnes of carbon dioxide per year churned out by the redundant trucks.

And experts don’t expect electric vessels to become a universal solution for the industry any time soon.

“Electricity has a ‘niche’ use, in particular for ferries as these are often short and stable routes, possibly on coastal and river transports. But it’s not well-adapted for long ocean crossings,” said Camille Egloff, a maritime transport expert at Boston Consulting Group.

“Not only would (a vessel) need to be autonomous for long distances but you would also have to equip ports with battery chargers. So there are technical and infrastructure challenges that would need to be coordinated,” she said.

While dozens of electric ferries already criss-cross the fjords of Norway — a major oil and gas producer which is paradoxically also a leader in electric transport — ocean liners will have to rely on other technologies to go green, such as LNG, e-methanol and hydrogen.

SOURCE:https://brandspurng.com/2021/11/21/norway-launches-its-first-electric-cargo-ship/

The International Monetary Fund (IMF) has said that the Nigeria’s Economy is set to grow by 2.6%.
In a statement following a mission to Africa’s largest economy, also repeated its long-running calls to scrap costly fuel and electricity subsidies and said some reforms were needed as soon as possible.

The fund, which had said it was likely to revise up its 1.5% growth projection for 2021, said the pace of recovery was still limited, given Nigeria’s rising population.

“This is just above the population growth rate, implying stagnant per capita income in the medium term,” it said.

It said annual growth of 2.6%-2.7% was likely over the medium term.

“Major reforms in fiscal, exchange rate, trade and governance are needed to alter the long-running lacklustre growth path,” it said.

Nigeria’s economy grew just over 4% in the third quarter, the statistics office said earlier this week, the fourth consecutive quarter of growth. However, the third-quarter growth rate slowed compared with the previous quarter.

The IMF warned that Nigeria faced “significant downside risks” in the near term due to the ongoing COVID-19 pandemic as well as tenuous domestic security.

But the fund’s most urgent calls related to subsidies and foreign exchange.

Nigeria imports virtually all its fuel despite its status as Africa’s largest oil exporter, and rising oil prices significantly boosted its import bill.

With the Central Bank efforts to close the gap between Nigeria’s multiple naira rates, the IMF said more action was needed.

“The mission advised a move to a unified and market-clearing exchange rate without further delays,” it said.

SOURCE:https://brandspurng.com/2021/11/21/imf-nigerias-economy-to-grow-by-2-6/

Pacegate Limited, a leading manufacturer of UN Certified Steel Drums and distributor of Adipro Lubricant Additives and Polaris Bank have jointly collaborated to promote inclusive quality education and lifelong learning opportunities for all, as enshrined in Sustainable Development Goal (SDG) 4.
The intervention is aimed at driving human capital development and combating climate change in Nigeria through provision of essential school supplies such as; school bags, pens, books, sandals, and uniforms to over 1,400 schoolgirls in secondary schools in Kano, Lagos and Imo States respectively.

According to the world’s leading research for Climate change solutions— Project Drawdown, the provision of education for the girl child is one of the solutions which has a positive, longlasting impact in addressing the effects of global warming. As knowledge broadens the horizon of the girl child, imparting the understanding of their boundless potential, extends beyond solely nurturing children. Education provides the much-needed safety net and resilience for girls and women alike to navigate their role in the world and make better life choices, which will positively impact climate change.

Speaking on the initiative, Mr. Umesh Amarnani, Managing Director of Pacegate Limited, thanked Polaris Bank for supporting the vision to help young schoolgirls across the country.

“As the world continues to deal with the effects of global warming, it is essential for us as an organisation to contribute our quota in moving the needle forward and this became vital for us to take a closer look at engaging the girl child as a pivotal part of tackling this issue,” he added.

Commenting at the event, while speaking to the reason for the Bank’s involvement in the project, the Managing Director/CEO, Mr. Innocent Ike, disclosed that, “Polaris Bank will continue to increase her footprints across communities in Nigeria to ensure the promotion of inclusive quality education and lifelong learning opportunities for all while creating an enabling environment for growth of businesses. We welcome partnership opportunities with the core objective of delivering social value for the underserved in the country.

An excited beneficiary and student at the Opebi Junior Grammar School, Nwagu Happiness, while expressing her appreciation said that the provisions from Pacegate and Polaris Bank are well received. “We are very grateful for these bags and other gifts. The items will be of immense value to us. We promise to put them to good use,” Nwagu concluded.

Urging the beneficiaries on the need to make the donors proud, the Principal of the School, Mrs. Omolara Awosan who was represented by the Vice Principal (Admin), Mrs. Olutade Taiwo, said “the donations you receive today are complementing the efforts of your parents over your education and these investments should yield positive results from you. I implore you to take advantage of this kind gesture from Pacegate and Polaris Bank to become proud ambassadors of this school”

Earlier in the year, Polaris Bank took its Feminine Hygiene Campaign (an advocacy and capacity building initiative on menstrual hygiene for girls) to 9 secondary schools in three states across North Central & North East geopolitical zones of the country respectively. The feminine hygiene campaign was embarked on to address knowledge gap, correct unhealthy hygiene practices among secondary school girls; as well as identify the environmental school challenges affecting the effective management of feminine hygiene promotion in schools to enable girl-child education.

Additionally, Polaris Bank’s CSR footprints and interventions for women-focused and other societal issues in the nation include the implementation of specifically tailored initiatives such as provision of free breast cancer screening to over 20,000 women in partnerships with Care Organization Public Enlightenment (COPE), Nigeria’s leading breast cancer NGO.

Equally involved in this strategic partnership is PEARL, Pacegate Energy and Resources Limited, an indigenous local content company that provides fluids and chemical solutions to various sectors of the Nigerian Economy.

SOURCE:https://brandspurng.com/2021/11/21/pacegate-limited-partners-polaris-bank/

Millions of sports fans in Nigeria will step into a new world of sports entertainment with the launch of Afrosport TV on the Free TV DTT network.

Afrosport will be sub-Sahara Africa’s first 24-hour free continent-wide sports channel in Nigeria, delivering a quality and depth of service that is usually found only on Pay TV channels, such as Supersport or StartTimes. Rolling out in Nigeria, with the intention of developing a presence across Africa and the diaspora, Afrosport is driven to change the narrative around Free-To-Air (FTA) sports provision on the continent, by delivering bespoke content to an underserved and passionate fan base.

Speaking at the launch of the channel, Co-founder and Director, Andy Howes stated, “Africa has some of the best Pay TV sports delivery in the World, that is vital to rightsholders and fans alike. Afrosport will seek to focus on the 90% of fans who are not able to subscribe to Pay TV and allow them to participate in the enjoyment of the best of sport.”

“There is both a compelling commercial and moral reason for Afrosport to exist. Commercially, with a potential audience in Nigeria of more than 150 million people, Afrosport provides a method of communication that is essential for brands to market their products and will be an essential component for rightsholders – both global and local – to establish a strong following for their products.

“Morally, when you consider the powerful role that sports has played in societies, it is only right that a continent that has given so much enjoyment to the world of sports through its sons and daughters over the past 100 years and still continues to do so currently should not face exclusion for a majority of its population when it comes to viewing and enjoying sport.

Fellow founder, Rotimi Pedro added, “Many will never get the chance to attend a World Cup, go to the Olympics, or attend a match at Wembley or watch a NBA game at the Staples Centre, and the TV is the closest that they will get to enjoying collectively what is experienced in arenas around the world. Afrosport’s aim is to inspire a billion dreams”.

Free TV is the public private partnership, backed by Nigerian broadcast regulator/government and INVIEW, and will be the default FTA platform as the long-awaited Digital Switch Over (DSO) moves into gear with the roll out across the country, including Lagos, Kano, Jos, Kaduna, Enugu, Oshogbo, and Abuja. Currently in over 1,000,000 TV homes with a target of over 25 million in the next 12 to 18 months.

SOURCE:https://brandspurng.com/2021/11/20/afrosport-commences-test-transmission-in-nigeria/