All is now set for the inaugural edition of the Ikeja Golf Club Stableford Cup competition, which will be hosted by Ikeja Golf Club on Saturday, 13 May.

A statement issued by the clubs’ Competition Secretary, Jenkins Alumona, disclosed that the one-day tournament will feature 120 golfers from across the country, including representatives of Ikoyi Golf Club.

Alumona said modalities have been put in place to ensure a befitting tournament.

“This is the first Stableford Cup competition at the Ikeja Golf Club and the Competition Committee has worked hard to ensure we have an excellent tournament under the Stableford rules. We also assure all golfers of a great time on our golf course,” he said.

Ikeja Golf Club Captain, Shina Akinyemi says the Stableford Cup is part of the initiatives designed to strengthen the bond among golf buffs across the country and sufficiently animate the atmosphere for members as well as sponsors.

“The current leadership of Ikeja Golf Club came up with the idea of making the club more interesting for members and our sponsors, and this competition is one of such initiatives. This is a big competition involving golfers from other clubs. We look forward to a fun-filled day with our guests, members, and sponsors on the course,” Akinyemi said.

The Ikeja Golf Club Stableford Cup competition is sponsored by Qshop the online sulerstore, Saros Life Care, makers of Gossy Water and Purrit Antiseptic Liquid and Overland Properties Limited with refreshment support from Rockstar Energy Drink.

SOURCE:https://brandspurng.com/2023/05/11/ikeja-golf-club-hosts-maiden-stableford-cup/

Residents and marketers on Sunday in Ilorin, the Kwara State capital, were shocked by a sudden increase in the price of tomato.

A basket of tomatoes in the aforementioned region has increased to N58,000. This was made known by marketers and residents of the state.

Abdullahi Latifat, while speaking with Daily Trust at Mandate Market, said the situation was beyond what the family could bear.
“Last week, the smallest bowl of tomatoes was sold for around N300 but now it’s N1,000.

“A big basket that used to sell for around N20,000 has shot to between N57,000 and N58,000.

Arinola, another resident said she had to reprioritise her budget when she came to the market because of the ‘skyrocketing’ price of the commodity.

A seller, Malam Hanas, said the price hike was because the season is gradually going, adding that it might get worse from Monday (today).

On his part, another seller, Mallam Surajdeen, said a small basketball that used to sell for around N1,000 is now N4,000 and more.

He said the situation, which they are helpless about, has affected sales.

SOURCE:https://brandspurng.com/2023/05/09/market-analysis-basket-of-tomato-now-costs-n58000/

The Lagos State Government (LASG) has organized an orientation programme for school owners and proprietors through the Office of Education Quality Assurance.

The Director-General, OEQA, Mrs Abiola Seriki-Ayeni, in a statement, said the administration of Governor Babajide Sanwo-Olu placed a “high premium on the quality and standard of learning in schools across the state, hence the office is constantly evolving to ensure the highest standard is attained.”

She stated, “Lagos State is committed to ensuring that your school is successful, committed to ensuring accountability and that there are minimum standard processes. Are we going to fold on our minimum standards? Absolutely not.

The children and residents of Lagos deserve an educational system that has high standards. Our future depends on it and what we do now is important as it is crucial to the development of our state and nation.”


Also, the Director, of Private Education Special Programmes, Mrs Fabambi Falayi, explained that the responsibility of the OEQA was to strengthen control, regulations, standardization, monitoring and evaluation of public and private schools below tertiary education, as she enlightened participants on the approval processes, provisional approval as well as post-approval processes.

SOURCE:https://brandspurng.com/2023/05/07/lasg-moves-to-improve-education-standard-in-schools/

Thirty-two women from Ikorodu have joined the 250 beneficiaries of Nestlé Nigeria’s Empowering Rural Women in Nigeria Project through which Nestlé is helping rural women in Nigeria build financial security to improve their standard of living.

This is achieved through training, mentorship, and grants in form of Nestlé products. Beneficiaries of the program are female retailers in Nestlé Nigeria’s value chain.

Nestlé Empowering Rural Women in Nigeria aims to help beneficiaries scale up their businesses and sustain the new level of up to three times the size of their existing businesses. Each beneficiary receives grants valued at 300% of their monthly sales in form of Nestlé products, business training and a 3-month mentorship program. Each beneficiary is linked to a mentor for one-on-one coaching over the three months, to ensure their success.

At the induction of the thirty-two new beneficiaries in Ikorodu recently, Nestlé Nigeria’s Commercial Manager, Mr. Khaled Ramadan said, “We are pleased with the success of the 250 beneficiaries of Nestlé Empowering Rural Women in Nigeria and are delighted by the opportunity to include 32 more today. With this addition, 282 women across five geopolitical zones of Nigeria now have a unique opportunity to scale up their businesses by 300%.


We are confident that the new beneficiaries will also transform their businesses, making the best use of the support Nestlé is providing through training, mentorship and grants in form of Nestlé products.”

Mr. Phranklin Audu, Head, Partnerships & Training at FDConsults, implementation partner of Nestlé Empowering Rural Women in Nigeria Project said, “As an NGO focused on empowering people to improve their livelihoods, we are thrilled by the impact of this project on rural communities. Over 80% of the beneficiaries have seen their incomes grow and can support their families better.

One of them is Blessing Abayi, a single mother from Bauchi. Blessing used to struggle with paying her children’s school fees, but after three months in the program, she told us that for the first time, she paid the fees in full and on time, thanks to her growing business. We are inspired by her story and others like it.”

FDConsults is an NGO with a record of equipping businesspeople in rural areas with the information and skills they need to increase their household income and
improve their standards of living.

The inclusion in Nestlé Empowering Rural Women in Nigeria was well received by the beneficiaries in Ikorodu. One of them, Mrs. Olubunmi Adeoye, expressed her gratitude to Nestlé for the opportunity to be part of the project. “I am so happy that Nestlé chose me to benefit from this program. It is a wonderful opportunity,” she said.

Another beneficiary, Mrs. Bukola Ajala, praised Nestlé for the empowerment and the free goods they provided, saying, “I have not seen any like this before. I know I am going to the next level.”

Nestlé Empowering Rural Women in Nigeria Project began in August 2021, with 50 female retailers from the suburbs of Abuja. The program has expanded to include more women from the South-East, North-East, South-South, and South-West, including Lagos. Over 80% of beneficiaries have reported an increase of 100% to 200% in their business growth within three months of joining the program.

The best-performing beneficiary, Mrs. Oghenetega Delight Jombo, of Jombo Stores, Port Harcourt, reached a business growth of 675% within 6 months of joining the program, and has sustained a monthly turnover of over N547,623.67 since.

Nestlé’s Corporate Communications and Public Affairs Manager, Victoria Uwadoka, reiterates the company’s commitment to building thriving communities by improving household incomes. Nestlé Empowering Rural Women in Nigeria Project is one of the ways through which Nestlé Nigeria is Creating Shared Value along her value chain.

SOURCE:https://brandspurng.com/2023/05/08/nestle-making-more-nigerian-women-financially-secure/

The West African Examinations Council (WAEC) is set to conduct its 2023 West African Senior School Certificate Examination (WASSCE).

The Head of WAEC National Office, Patrick Areghan addressed the media on Thursday in Lagos and confirmed the examination has been scheduled for Monday, May 8 to Friday, June 23, a period of seven weeks.

He said the level of insecurity in the country was a concern, adding that some areas require extra security arrangements.

“We are liaising with the Inspector General of Police, Brigade Commanders, other security agencies and state governments.

“This is to ensure the examination is conducted under a safe environment. We’ve also sought the intervention of the Minister of Education,” he said.

WAEC zonal and branch offices have likewise reached out to security outfits in their locations for assistance, Areghan hinted.

A total of 1,621,853 candidates from 20,851 secondary schools across Nigeria registered for the examination.

The breakdown shows 798,810 are male, representing 49.25 per cent, while 823,043 are female, representing 50.75 per cent.

SOURCE:https://brandspurng.com/2023/05/05/waec-announces-date-for-2023-wassce/

Waving your hand to pay after shopping at a store, or simply placing your mobile phone on the checkout counter could seem strange – at least to a number of people in Nigeria. But it is possible and in fact, already standard practice in some countries.

This, and other cashless methods can also be possible in Nigeria if the right technologies are adopted. After all, some people already use tollgates where courtesy of something called e-tag, they are let through without waiting to pay every time. It is a form of cashless technology too.

Global cashless payment volumes are set to increase by more than 80% from 2020 to 2025, from about 1tn transactions to almost 1.9tn, and to almost triple by 2030, according to analysis by PwC. Asia-Pacific will grow fastest, with cashless transaction volume increasing by 109% from 2020 to 2025 and then by 76% from 2025 to 2030, followed by Africa (78%, 64%) and Europe (64%, 39%). Latin America comes next (52%, 48%), and the US and Canada will have the least rapid growth (43%, 35%).

Here are some technologies Nigeria should be looking into so as to strengthen the move towards being cashless.

Have you ever come across a sign that says ‘scan to pay’ (with a pattern of black squares) after shopping at a store? Any business or individual that receives payment can provide this option, which is derived from Quick Response codes, which are machine-readable barcodes that store information.

In 2020, Ghana became the first African country to introduce a universal QR code. In South Africa, the Payments Association of South Africa (PASA) has identified a need to streamline the experience of both payer and payee and is in the process of standardising QR codes across the sector.

In 2021, the Nigeria Inter-Bank Settlement System Plc (NIBSS) launched the New Quick Response (NQR) payment solution code, which it describes as “an innovative payment platform implemented on behalf of all financial service providers.” The New Quick Response code solution offers a robust platform that delivers instant value for P2B and P2P transactions by simply scanning to pay.

Generally, making QR codes more widely used will create another easier way for people to transact without cash, and cheaper for merchants to receive their money.

Mobile money

Nigeria still hasn’t fully hacked Mobile Money, despite the successes recorded in other countries across Africa. In 2021, CBN data shows Nigeria recorded 1.2 billion mobile money transactions with a value of N15 trillion (about $34 billion using official rates).

However, in Ghana, with a fraction of Nigeria’s population, the volume of transactions was 4.25 billion in 2021, with a value of GH¢ 978.32 billion (about $75 billion).

Let’s not even compare with Kenya or other African countries blazing the trail in mobile money. It is clear that this technology remains largely underexplored in Nigeria. With the country’s large rural population and low internet penetration, mobile money offers those who would otherwise be disadvantaged a way to send and receive money electronically and with less sophistication required.

Digital wallets

iPhone users should be familiar with Apple Pay and their android contemporaries, Google Pay. But, whenever you are sceptical of inputting your card details on a website, has it occurred to you to use that Apple or Google pay function (which you already trust) on your device?

There are other options which PwC described in a report as ‘super-apps’ such as WeChat Pay and Alipay in China, and in different countries, local options abound with different names. While many people already use these platforms it is still not a widespread means of payment in Nigeria.

These digital wallets allow consumers to load and store payment methods and access funding sources, such as cards or accounts, on their mobile devices. The use of digital wallet–based transactions grew globally by 7% in 2020, according to a report by FIS, a financial services technology group, which predicts that digital wallets will account for more than half of all e-commerce payments worldwide by 2024, as consumers shift from card-based to account- and QR code–based transactions.

Nothing stops the growing fintech industry in Nigeria from introducing similar platforms to take advantage of the immense opportunities.


Contactless payments

This has been referenced a few times earlier and it is one innovative way to not only get more people to go cashless, but also in a way that would excite them.

Imagine that you have finished shopping at a supermarket and the cashier tells you to simply hold your phone near theirs and with the tap of a button, payment is done.

This movement of money from you as a customer to the merchant happens through near-field communication (NFC) technology, a function you may have seen on your phone, never utilised and probably been curious as to what it does.

A Tappit article further explains that instead of swiping or inserting your bank card into a reader and typing a PIN, you simply ‘tap-and-go’ or ‘wave and pay’. To make a payment, you place your bank card or contactless-enabled mobile phone near the reader.

These technologies, in addition to other existing cashless payment methods like the regular bank transfers, card payments, can help drive Nigeria’s cashless economy further.

SOURCE:https://brandspurng.com/2023/05/03/four-technologies-that-can-drive-nigerias-cashless-economy/

Building a strong brand for your hotel is similar to developing deep customer relationships. If you bore your pals, you will lose them rapidly. Naturally, it becomes much more complicated than that. However, hotel branding can develop a great and long-lasting reputation by being intriguing, trustworthy, sincere, and original.

Hotel branding involves sharing values with your customers and emphasizing the intangible aspects of your company. Below are seven ways to create a memorable brand experience in the hospitality sector:

Consistency Is Important
The first stage in your hotel branding strategy is recognizing and adhering to your core values. Consistency is important in gaining the trust of customers. Everything about your brand must reflect the “image” of your business. Although it is generally assumed that this includes your name and logo, style, stationery, and food, go above that.

It also includes advertising efforts, social media posts, or emails you send to attract repeat clients. For instance, American Airlines began its first branding campaign by introducing a video titled “You Are Why We Fly.”

Stay True to Your Hotel’s Character
Everyone naturally desires to associate with and be a part of a group. Hotels often ignore that their customers are people first and paying customers second. The most effective hotels may demonstrate a relevant, conscious branding strategy that touches clients on an emotional level.

Discover Your Niche
You can more effectively target potential customers by carving out a niche in the market while concentrating on the goals and positioning of your brand. You can accomplish this by considering your interests, researching your audience and what appeals to them, and identifying market gaps.

You can maximize your hotel branding by identifying your specialization and ensuring it corresponds with your vision.

Narrate Brand Stories
A successful brand requires more than just an appealing label or logo. It necessitates creating a compelling narrative that inspires and resonates with current and potential customers. Make a story and an image that appeals to your clientele. Tell stories that link your brand’s identity to the issues that matter most to your audience.

Suppose you have determined that the purpose of your hotel is to offer wealthy guests a guilt-free, environmentally responsible stay. In that case, you must develop a story that explains why your brand feels passionate about this and how the experience is delivered.

Sell an Exciting Experience
The greatest hotels should expand their brand to encompass the spirit of hospitality and the essential features, including the state of the accommodation, facilities, or services provided by skilled staff.

Hotels are in the business of caring for people; thus, staff members should try to give visitors a cutting-edge experience. Hotel branding should provide a consistent guest experience from pre-booking through post-stay marketing and follow-up.

Use Technology and Experiential Components
Through marketing initiatives that give clients a special chance to interact with your hotel before their visit, you may enhance the perception of your brand. For instance, Marriott has shifted from traditional to digital marketing.

In your hotel brand marketing, emphasize 3D virtual site tours or collaborative event space layouts. These interactive features enable potential guests to experience your property fully. Future visitors can explore the property virtually and engage with your brand completely new.

Offer Specialised Offerings
A business, service, or product’s distinctive advantage that enables it to stand out from the competitors is referred to as its unique offering.

Your unique selling proposition explains your service’s superiority over rivals. Additionally, a unique service offers a distinct difference, more income, devoted clients, and simpler selling in hotel branding.

SOURCE:https://brandspurng.com/2023/05/02/7-ways-to-create-a-memorable-brand-experience-in-hospitality-sector/

At the 32nd Annual General Meeting (AGM) of Zenith Bank Plc, held virtually from the Civic Centre, Victoria Island, Lagos, on Tuesday, 2 May 2023, shareholders of the bank unanimously approved the proposed final dividend payment of NGN2.90 per share. This brings the total dividend for the 2022 financial year to NGN3.20 per share, with a total value of NGN100.47 billion.

In his opening statement at the AGM, Jim Ovia, CFR, Founder and Chairman of Zenith Bank Plc, expressed his gratitude to the shareholders for their unwavering loyalty, commitment, and support, which have been instrumental in the bank’s outstanding performance since its inception.

Group Managing Director/Chief Executive, Dr. Ebenezer Onyeagwu, extolled the Founder and Chairman, Jim Ovia, CFR, for establishing the legacy and providing the template for the bank’s continued superior performance. He also highlighted the Board and Management’s determination to maintain the bank’s growth trajectory in the coming years, with an emphasis on digital and retail banking.

Speaking at the AGM, Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), commended the Board and Management of Zenith Bank for consistently delivering value to shareholders, despite the challenging economic environment. He also praised the bank’s staff for their loyalty and dedication.

Chief Timothy Adesiyan, President, Shareholders Solidarity Association of Nigeria, expressed delight at the dividend payout and thanked the Board and Management for the outstanding performance that led to approving both an interim and final dividend during the year.

Also speaking, Mrs. Adenike David, National Coordinator of the Esteemed Shareholders Association of Nigeria, congratulated the bank and Chairman on their exceptional performance, as evidenced by the numerous awards received during the 2022 financial year. She also praised the bank for paying an interim dividend of 30 kobo and a final dividend of 2.90 kobo.

Despite challenging macroeconomic conditions, Zenith Bank Group achieved a 24% growth in gross earnings, from NGN765.6 billion in the previous year to NGN945.5 billion in 2022. This was driven by a 26% YoY growth in interest income and a 23% YoY growth in non-interest income. Customer deposits grew by 39%, reflecting the bank’s market leadership and customers’ trust. Net-Interest-Margin (NIM) increased from 6.7% to 7.2%, positively impacted by the elevated yield environment. Operating expenses grew by 17% YoY, though still below the inflation rate. Total assets rose by 30%, primarily due to growth in customer deposits.

In 2023, Zenith Bank Group plans to expand its reach and reorganise into a holding company structure, adding new verticals to its businesses and pursuing growth in all chosen markets, locally and internationally.

Zenith Bank’s track record of excellent performances has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

SOURCE:https://brandspurng.com/2023/05/03/zenith-bank-delights-shareholders-pays-milestone-n100-47-billion-dividend/

Governor Babajide Sanwo Olu has announced plans to establish an assembly plant for electric buses in Lagos state.

The governor made this statement while announcing the arrival of the first set of electric buses, which will be added to the Lagos Mass Transit Master Plan which is aimed at reducing carbon emissions in the state.

According to a tweet made by the governor himself via his Twitter handle @jidesanwolu, the governor noted his excitement at the arrival of the buses. He tweeted “Lagosians can expect a cleaner and greener public transportation system.”.

He added that the new buses would be powered by universal chargers which would be placed at public places and gas stations in partnership with Oando Clean Energy Limited.

He said “With the ability to travel 280km at full charge, taking into account our unique travel times in Lagos, our electric buses are a game-changer. With an average daily usage of 200km by existing BRTs, there is no need to fear that the buses can stop while in transit.

“Our new electric buses will not only reduce carbon emissions but will also increase efficiency. This means that Lagosians can say goodbye to high fuel costs and hello to cost-efficient transportation. We shall be running a pilot scheme over the next few months to gather sufficient data required to analyse the operational efficiencies relative to the current BRT buses to further improve our public transport service.

“This collaboration is a testament to our commitment to creating a sustainable future for Lagos.

“We understand the need for charging stations to power our electric buses, which is why we are partnering with Oando Clean Energy Limited to strategically place universal chargers at public places like malls and gas stations. We also plan to establish an assembly plant for electric buses in the near future..

SOURCE:https://brandspurng.com/2023/05/01/sanwo-olu-announces-plans-for-electric-bus-assembly-plant/

The All-Share Index depreciated by 1.08 per cent last week amid buying pressure on Transcorp Plc, the new bride of investors. The year-to-date returns for investors have now settled at 0.20 percent.

Similarly, all other indices finished lower with the exception of NGX Main Board, NGX Pension, NGX Insurance, NGX AFR Div. Yield, NGX MERI Growth and NGX Consumer Goods which appreciated by 0.73 percent, 1.44 percent, 1.41 percent, 0.80 percent, 4.37 percent and 0.17 percent respectively while the NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.

However, Transcorp Corporation Plc, led the gainers’ chart of the Nigerian Exchange Limited in the last week as its share price appreciated by 44.97 percent to close trading at N2.45, following the acquisition of over five percent stake in the group.

During the past week, a total of 3.920 billion shares worth N15.620bn were traded in 16,856 deals by investors on the floor of the Exchange, in contrast to a total of 2.824 billion shares valued at N10.964bn that exchanged hands the previous week in 15,686 deals.

The Conglomerates Industry (measured by volume) led the activity chart with 3.050 billion shares valued at N5.964bn traded in 1,379 deals; contributing 77.81 per cent and 38.18 per cent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 707.962 million shares worth N6.175bn in 8,430 deals. The third place was the Consumer Goods Industry, with a turnover of 43.155 million shares worth N1.026bn in 2,223 deals.

Trading in the top three equities namely Transnational Corporation Plc, Access Holdings Plc and Fidelity Bank Plc (measured by volume) accounted for 3.302 billion shares worth N7.999bn in 2,375 deals, contributing 84.23 percent and 51.21 percent to the total equity turnover volume and value respectively.

During the four-day trading week, 35 equities appreciated higher than 18 equities in the previous week.

31 equities depreciated in price lower than 39 in the previous week, while 90 equities remained unchanged, lower than 99 equities recorded in the previous week.

SOURCE:https://brandspurng.com/2023/04/25/ngx-depreciates-by-1-08-despite-44-97-growth-by-transcorp/

Finland’s largest child welfare organization published an outdoor ad campaign to remind parents and adults of the content children see when browsing their phones, especially at night. The campaign consisted of billboards disguised as a child’s screen recording, and a continuous stream of disturbing and violent images, including cyberbullying and war.

Highlighting the harsh reality that children can face on their phones, the ads were displayed only at night in Helsinki, Finland, because that is when children are most likely to use their phones without adult supervision.

The aim of The Mannerheim League for Child Welfare’s campaign is to support parents in media education for children. According to a Pew Research Center survey (2020), a majority of parents of children aged 11 or younger are concerned that their child is being exposed to inappropriate content online. 59 percent of US parents were concerned about their child accessing violent content online, and 56 percent were concerned about their child being bullied or harassed online*.

“Digitalization has revolutionized our world, for better and for worse. Media is intertwined with children’s lives, where for example the internet, social media, and games are part of their environment. A child has the right to safety in digital environments as well”, says Paula Aalto, The Mannerheim League for Child Welfare’s Head of School Cooperation and Digital Youth Work.

TBWA\Helsinki, the creative partner in the campaign, discovered an approach that allowed drawing attention to the time of day, when children are most likely to use their phones without adult supervision or support. Thus, the outdoor ads are visible only at night.

“Children are at their most vulnerable during the night. We created billboards that are active from 12:00 am to 2:00 am, displaying a stream of images that depict cyberbullying, nudity, war, and violence. It effectively reminds us, adults, about the availability of illicit online content to our children. We purposely hid the content of the billboards from the public – this became the core of our message. These images were too frightening to show, yet they are the harsh reality our kids are exposed to when we aren’t watching”, says TBWA’s Creative Director Joni Furstenborg.

Adults are the solution
The association does not blame adults or technology, but supports parents in educating their children about media.

“It is understandable that parents cannot constantly monitor their child’s phone use. However, as adults, we are the solution to protecting our children from inappropriate content. By developing our own media literacy skills, we also know how to act if a child has seen something scary or inappropriate on their phone”, says Aalto.

The Mannerheim League emphasizes that providing support entails exploring media together, achieving joint successes, and being present and genuinely interested in our children’s lives . Constant communication with the child on and off screen is of the utmost importance.

“As a parent myself, I am concerned about my own children’s media use on their phones. Children are constantly exposed to harmful content, and parents must protect them from seeing things that they do not have the ability to process due to their young age. We, parents, are the solution”, Furstenborg ends.

SOURCE:https://brandspurng.com/2023/04/20/why-you-should-not-give-smartphones-to-your-children-before-bedtime/

The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March 2023 after the Central Bank of Nigeria (CBN) reversed its policy on the naira redesign.

According to the CBN, currency-in-circulation is defined as currency outside the vaults of the central bank; that is, all legal tender currencies in the hands of the public and in the vaults of the Deposit Money Banks.

The currency in circulation in the country had dipped by a 235.03 per cent to N982.09bn at the end of February from N3.29tn at the end of October 2022, on the back of the naira redesign policy of the CBN.

Figures obtained from the CBN revealed that N2.3tn was mopped up from circulation during the period under review.

n a report by a research firm, Augusto&Co, titled ‘Redesign gone wrong? – Costly cashless’, while the policy was still on, it stated that, “How does the Central Bank retrieve 84.5 per cent of a country’s currency in circulation in just 90 days?

“This was one of the many questions seemingly begging for answers when Nigeria’s apex bank announced its plan to redesign the three higher value notes of the naira (N200, N500 and N1,000) on 25 October2022.”

A performance appraisal of the CBN’s execution of the redesign project would range from grossly unprepared to poorly perceived, it stated.

Speaking on the consequences during the implementation, Augusto&Co said, “Public outrage has degenerated to violent protests in some cities, with incidents of vandalism of several banks’ facilities – and PoS outlets.

“The cash crunch and the uncertainty surrounding the policy are fanning a long-simmering fire of public resentment, triggered by deteriorating economic conditions and recently exacerbated by unending petrol shortages.”

The hardest hit by the policy had been the most vulnerable members of the population (the poor, the unbanked and the rural dwellers), the report added.

It would be recalled that the Governor of the CBN, Godwin Emefiele, had in October 2022, announced plans to redesign the old N200, N500 and N1,000 notes.

The governor decried the challenges associated with currency management, including the hoarding of banknotes by members of the public, with statistics showing that over 80 per cent of currency-in-circulation was outside the vaults of commercial banks.

Due to hardships the policy subjected Nigerians to among others, some state governments sued the Federal Government over the naira redesign policy; the Supreme Court in its ruling on March 3 extended the legal tender status of the old N200, N500, and N1,000 notes to December 31.

Ten days after the Supreme Court judgement, the CBN officially ordered commercial banks to comply with the court verdict.

SOURCE:https://brandspurng.com/2023/04/20/currency-in-circulation-rises-by-71-to-n1-6tn-cbn/

Lagos State Governor, Mr. Babajide Sanwo-Olu, has expressed his administration’s readiness to partner with would-be investors and distribution companies (DisCos) on sustainable power in the State.

He said his administration will continue to collaborate with investors to improve power generation, transmission and distribution in the State, ensuring that quality power supply is provided for Lagos residents.

Governor Sanwo-Olu spoke on Wednesday during a courtesy visit by the Board of Eko Electricity Distribution Company (EKEDC) and its investor group, WPG, at Lagos House, Marina. The team was led by the Chairman, Board of EKEDC, Mr. Dere Otubu.

Sanwo-Olu, who noted that both the public and private sectors involved in the provision of electricity to consumers cannot give reasons for lapses, expressed worry that so much money had been invested in the sector and charged the Distribution Companies (DisCos) to get it right for economic activities to take a positive shape.

Lagos State Commissioner for Energy, Mr. Lere Odusote, who gave a brief on the State’s plan for the Energy sector, said the administration had mapped out a Universal Electricity Supply plan on the short, medium and long-term basis aimed at improving transmission and distribution of power.

He said there is a plan to create a One-Stop Shop in the Lagos State Ministry of Energy for easy access.

Speaking earlier, the Chairman Board of Eko Distribution Company, Dere Otubu, who commended Governor Sanwo-Olu for his developmental strides in Lagos State, and victory at the last general elections, said his company is seeking partnership with the State Government to improve power generation, transmission and distribution.

“We know and appreciate that Your Excellency (Governor Sanwo-Olu) recognises the need to collaborate with NERC and necessary stakeholders to achieve the great goal of improving power supply to the citizens of Lagos State, hence, we urge your good administration to kindly work with all necessary stakeholders within the power sector to develop a very workable policy and legal regime for this to be achieved,” he advised.

Also speaking, the Managing Director of Eko Electricity Distribution Company (EKEDC), Dr. Tinuade Sanda, noted that it was necessary for her organisation to re-establish a relationship with Lagos State Government for a smooth operation forthwith.

Sanda, who emphasized the need for a good working relationship with the Lagos State Government, applauded the roles played by the Babajide Sanwo-Olu administration in ensuring legislation that backs the decentralization of power in Nigeria.

She also commended Governor Sanwo-Olu for gender balance government by being deliberate in his appointment of many females into the State Executive Council, as well as heads of Ministries, Departments and Agencies (MDAs) in Lagos State.

SOURCE:https://brandspurng.com/2023/04/20/sanwo-olu-lasg-ready-to-partner-with-investors-discos-for-sustainable-power/

Bühler is partnering with the Nigerian government in a project to boost rice production across the country. Initiated in 2017 with the agreement for the acquisition of a rice mill at Imota, the project involves the government at both state and federal level, which has recognised the importance of improving the independence and security of its food supply.


Bühler has collaborated with the Nigerian government to increase rice production in the country. A project was initiated in 2017 and includes the acquisition of a rice mill in Imota, as well as eight smaller mills funded by the federal government. Currently one of the eight mills has been commissioned. The Nigerian government, at both state and federal level recognise the importance of improving the self-sufficiency and security of its food supply.

The rice sector plays a significant role in Nigeria’s food security initiatives and the current drive to invest in rice mills across Nigeria, spearheaded by the government, is supported by solutions from Bühler Nigeria. The global Swiss family business has had a presence in Nigeria for more than 50 years and has established itself as the key technology provider in the Nigerian government’s efforts to enhance rice production and processing to meet international standards.

In December 2013, the federal government inaugurated the National Rice Development Strategy-II (2020-2030) and the Competitive African Rice Initiative to ensure surplus rice production for export, food security and job creation. NRDS-II is a 10-year plan for the development of the rice sector to achieve the government’s goals of self-sufficiency in rice production, food and nutrition security, employment creation and production of surplus for export.


The Nigerian government’s aim to boost food production sustainably and efficiently is supported by Bühler, one of the world’s leading manufacturers of processing machinery and plants. “We are the ideal partner to assist the government with its food security initiatives by introducing the latest trends and technology to Nigeria in order to increase productivity and efficiency in the food sector,” says Manuel Murrenhoff, Managing Director Bühler Nigeria.

The partnership with Bühler is illustrated by the fully automated Imota rice mill, inaugurated by Muhammadu Buhari, president of the Federal Republic of Nigeria, in January of this year. Said to be the largest rice production facility in sub-Saharan Africa, and with an annual production of about 2.5 million 50 kg bags, it is set to revolutionise the rice industry in the country, says Iyore Amadasun, Sales & Channel Business Manager Bühler Nigeria: “At full production capacity, it will reduce the price of rice, increase local capacity and ultimately improve Nigeria’s trade balance.”

Nigeria’s population – the sixth largest in the world – is set to surpass that of the US and be one of the top three countries by 2050. This means the current population of 216 million is expected to reach 401 million by 2050 and peak at 732 million by 2100. Feeding this growing population sustainably and efficiently presents a challenge for the Nigerian government and Bühler is committed to supporting the nation’s goal of achieving food independence through the provision of reliable food processing technology.

In August 2022, Bühler Nigeria hosted its first customer experience day with the theme of ‘Thriving through Collaboration’. Manuel Murrenhoff’s keynote address on the topic ‘Africa on the Rise – Feeding the Continent of Possibilities’ identified Bühler Nigeria’s support for the country in its quest for food security, including the construction of a grain processing innovation centre in Kano. “By supporting food producers in Nigeria with technical solutions and a full spectrum of services, we are helping Nigeria to gain food independence and improve food security,” says Manuel Murrenhoff.

Through investment in new technology, partnerships, innovation and education, Bühler Nigeria can create a more sustainable future for all. The strong resonance and positive feedback received is a clear sign that industry and government has accepted full responsibility.

SOURCE:https://brandspurng.com/2023/04/18/nigerian-government-collaborate-to-enhance-rice-production-and-food-security/

Nigeria’s headline inflation has increased to 22.04 per cent in March 2023 the National Bureau of Statistics (NBS) has disclosed.

The new figure brings the country’s rise in food and services closer to an 18-year high.

According to the NBS, the headline inflation rate of 22.04 per cent is 0.13 per cent points higher when compared to February 2023 headline inflation rate.

But when compared to the same period last year, it noted that the figure was 6.13 per cent points higher.

Nigeria’s Inflation Rate Rises To 22.04%
It said contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages (11.42 percent); housing, water, electricity, gas and other fuel (3.69 per cent); clothing and footwear (1.69 per cent); transport (1.43 per cent); furnishings, household equipment and maintenance (1.11 per cent); education (0.87 per cent) among others.

It added that the food inflation rate in March 2023 shot up to 24.45 per cent on a year-on-year basis; which was 7.25 per cent points higher compared to the rate recorded in March 2022 (17.20 percent).

“The rise in food inflation on a year-on-year basis was caused by increases in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruits, meat, vegetables, and spirits.

“On a month-on-month basis, the food inflation rate in March 2023 was 2.07 per cent, this was 0.16% higher compared to the rate recorded in February 2023 (1.90 per cent ).”

It said the average annual rate of food inflation for the 12 months ending March 2023 over the previous 12 months’ average was 22.72 per cent, which was 3.50 per cent points increase from the average annual rate of change recorded in March 2022 (19.21 per cent).

SOURCE:https://brandspurng.com/2023/04/17/nigerias-inflation-rate-rises-to-22-04-nbs-reports/

Despite the strong challenges presented by Covid as well as the recession which followed, the Bank of Industry (BOI) has shown that this won’t hamper or hinder its outstanding financial performance and development as it crossed the N2 trillion mark at the end of the year 2022.

The bank has grown in leaps and bounds in all major financial indices on a year-on-year basis, thereby consolidating its position as Nigeria’s largest and most impactful financial institution.
The year 2022, saw the group’s total assets cross the N2 trillion mark to N.38 trillion which indicates a 39.2% growth compared to the previous year. This major leap was achieved after it completed three landmark capital-raising transactions in 2022, worth €1.85 billion (about $2 billion) in the international financial markets.

BOI’s financial statement also showed that gross earnings also grew from N184.55 billion in 2021 to N 212.96 billion in 2022, a growth of 15.4%. Meanwhile, interest income from noth customer loans and investments also rose from N175.83 billion in 2021 to N212.96 billion in 2022, a 21.1% increase.

Profit tax rose by 15.6% to N71.99 billion from N 62.28 billion in 2021 which is due to a significant growth in interest income as well as other income rincome lines, with a reduction in impairment charges. Total equity also experienced a growth of 11.7%, which saw it rise from N384.85 billion in 2021 to N 429.83 billion in 2022, with loans and advances rising by 3.2% from N780.48 billion in 2021 to N805.46 billion in 2022.

During this developmental increase, BOI also disbursed N210.7 billion to 418.436 beneficiaries for the year under review, through both direct and indirect lending platforms, also through funds managed by the industry for its strategic partners.

BOI’s three major capital-raising transactions at the international financial markets include the bank’s maiden Eurobond of €750 million in February 2022. It was the first of its kind for the bank, the country, and Africa. This deal was BOI’s first Eurobond transaction and the first Euro-denominated Eurobond transaction in Nigeria. The transaction was also the first Eurobond transaction that was covered by Nigeria’s sovereign guarantee and represented the first of its kind done by a national development finance institution in Africa.

The transaction also won BOI, the Agency Bond Deal of the year award at the 2023 award event of the Bonds, Loans, and ESG Capital Markets in Capetown, South Africa. The second major capital-raising transaction was the €1 billion guaranteed senior loan facility, which was concluded in August 2022. It also ranked the first of its kind, by any Nigerian financial institution, in terms of size and structure.

This transaction helped the Bank of Industry raise liquidity while helping it diversify its funding sources by attracting new lenders, despite the expensive international capital markets which shut out many borrowers at that time.

BOI also completed a €100 million line of credit from the French Development Agency in August 2022, The credit facility helped the bank expand its financing interventions in environmentally friendly green projects. A grant of €2.5 million was also secured which helped provide support capacity building for both staff and customers.

According to the Bank of Industry, it also completed major intervention programs in the year 2022, which cut across several sectors and segments in the Nigerian economy, contributing significantly to national goals of economic recovery and job creation as well as business empowerment, for micro, small and medium enterprises to help them maintain sustainable operations.

SOURCE:https://brandspurng.com/2023/04/17/boi-total-assets-hits-n2-38-trillion/

Trouble looms for Loan apps on Play Store as Federal Government (FG) and Google bar them from accessing users’ contacts or photos from May 31, 2023.

BrandSpur NIgeria reports that this came as the FG said it would enforce the latest policy by Google, saying the action was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms.

Recall that the Federal Government had in recent times taken major decisions aimed at tackling the violation of customers’ privacy by loan apps. Notably, the Federal Competition and Consumer Protection Commission had recently registered 170 loan apps out of the 200 operating in the country.

Google, in its April 2023 policy updates, said the new policy update would provide respite for loan app users in Nigeria and other places that have become accustomed to crude loan retrieval methods employed by a majority of loan apps.

Google said, “Policy preview (effective May 31, 2023): This article previews changes included in our April 2023 policy updates.

“We are updating our personal loans policy to state that apps aiming to provide or facilitate personal loans may not access user contacts or photos.

“We are introducing additional requirements for personal loan apps targeting users in Pakistan. Personal loan apps in Pakistan must submit country-specific licensing documentation to prove their ability to provide or facilitate personal loans.”

This new policy is coming after the firm announced updates to its Developer Programme Policy, mandating digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya to conform to regulatory rules or be taken down by January 31.

According to the firm, only digital money lenders that have adhered to and completed the Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending, 2022 (as may be amended from time to time) by the Federal Competition and Consumer Protection Commission and obtain a verifiable approval letter from the FCCPC will be allowed on Play Store in Nigeria.

Commenting on the new policy to The PUNCH, the Chief Executive Officer of the FCCPC, Babatunde Irukera, stated that it was a welcome development and shows that Google was institutionalizing its regulatory policy.

He said, “It is a welcome development effort and is consistent with the position the FCCPC has taken and what we are enforcing.

“Google is now institutionalizing our regulatory effort as a policy, which is very welcome. It is certainly important for proper regulatory oversight of the industry, and we commend Google for taking a position that is consistent with our position as regulators.”

He added, “Recall that we took this position earlier and what has happened is that Google has looked at the regulatory landscape, looked at the regulatory priorities, and is supporting those priorities by institutionalizing those regulatory priorities and position.”

The FCCPC recently stated that it has approved 173 digital lending applications to operate in the country. 119 of these got full approvals while 54 got conditional approvals. This move became necessary after loan apps started harassing Nigerians by sending defaming messages to their contacts, and more.

The commission’s ‘Limited Interim Regulatory/Registration Framework and Guidelines for Digital Lending 2022’ is an attempt to regulate the digital lending space and make registration and approval a prerequisite for companies seeking to operate in the space.

Although, Google’s policy states that it does not “allow apps that promote personal loans that require repayment in full in 60 days or less from the date the loan is issued,” many loan apps in the country do not adhere to it, exposing many Nigerians to confidential data leak.

Further speaking on Arise TV on how the recent registration drive of the commission will protect the privacy of Nigerians, Irukera stated, “We also want to restrain what kind of information they are able to pull off people’s phones and what they are able to do with that information, especially with respect to making contact with people on the contact list, and their loan recovery practices; the kind of language the times they call, what kind of things they say.”

SOURCE:https://brandspurng.com/2023/04/13/fg-google-bars-loan-apps-from-accessing-customers-contacts/

As layoffs roil tech and other industries, many departing employees face a consequential workplace decision: signing a severance agreement.

Some tech companies appear to be offering fairly generous packages. Google and Meta are providing at least four months pay for those laid off, with veteran employees qualifying for longer payouts.

But exit documents also contain information about health insurance and returning any office equipment, as well as details on seeking unemployment. Once the agreement is finalized, it can be difficult to challenge it later, attorneys said.

Here are five things to consider when signing your severance agreement, according to labor lawyers:

1. Learn if there are WARN act requirements in your state
Companies are often required to let affected workers know ahead of mass layoffs. The federal Worker Adjustment and Retraining Notification Act, or WARN Act, which applies to big employers, calls for a 60-day notice period.

States also have their own versions of the law, which could require employers to offer even more notice. New York’s WARN act, for instance, can require companies to provide a 90-day notice period. New Jersey’s similar rule, which calls for certain employers to provide a 90-day notice period, went into effect on Monday.

When WARN Act rules apply, the notice period can determine the time in which employees being laid off need to be paid. For instance, in December 2021, the online mortgage startup Better increased its severance pay for laid off employees to 60 days, coinciding with the 60-day notice duration outlined by the federal WARN Act.

It’s not clear how state laws would apply to employees working from home, especially if their employers are not located in those states, said Shannon Liss-Riordan of Lichten & Liss-Riordan PC.

“There are issues to be worked out about who is subject to which laws in this day of widespread remote work,” she said. Liss-Riordan is currently representing more than 1,800 former Twitter employees seeking more severance. An attorney for Twitter did not respond to Insider’s emailed requests for comment, and emails Insider sent to Twitter’s press address received poop emoji autoreplies.

“Right now, I would say, if you worked in New Jersey or for a New Jersey employer, I’d highly encourage you to talk to a lawyer before signing anything,” said Liss-Riordan.

2. Take a closer look at confidentiality clauses in the agreement
The National Labor Relations Board, a key federal labor agency, decided in February that employers shouldn’t muzzle workers in exchange for severance. The ruling gives employees room to question language that prevents them from speaking freely about their time at the company, said Nicholas De Blouw, name partner at Blumenthal Nordrehaug Bhowmik De Blouw LLP, a labor law firm that represents workers in employment cases.

The agency’s fairly new decision could still be challenged in court.

“It certainly can give the employees a little more ammunition to break some of these confidentiality clauses, but be very careful,” he said, referring to the NLRB ruling. “The law can evolve on these issues.”

Companies can also dictate certain penalties for violating terms of their severance agreements — including non-disclosure agreements and confidentiality clauses — and employees should make sure they understand them before signing, said De Blouw.

3. Consider what you are willing to give up in exchange for the severance payment
When employees accept a severance package, they’re asked to give up something in exchange — like their ability to sue the company. They may want to consult an attorney to consider the trade-off or explore if they have potential legal claims, attorneys said.

Employees being laid off could explore claims for bias or discrimination, for instance, if they can demonstrate evidence that the layoffs targeted a protected group of workers, Liss-Riordan said.

“We have been receiving a lot of calls from workers laid off by tech companies,” she said.

“Usually people are trying to figure out if they might be entitled to more severance pay,” she added. “There are employees who want to get their job back — that’s difficult to do.”

4. Know your deadline for signing the agreement
Laid-off employees usually have a few weeks to sign severance agreements and often a brief additional window after that to change their minds. Acting early will give employees more time to seek any necessary information from their companies, like any documents they’ve signed, their performance evaluations, and any wage statements, according to De Blouw.

Such documents can help employees determine if and how they can bring legal claims against their employers, if they want to go down that road. If they’ve signed an arbitration agreement, for instance, they’d have to file an arbitration claim rather than a lawsuit.

“If they wait, we, as attorneys, do not have adequate time to review their case file,” De Blouw said.

5. Learn ways to get support after you leave
Departing workers could request other forms of support, like letters of reference or even language in the severance agreement that says the company won’t oppose any decision by a state agency to grant unemployment, said Richard Volin, principal at Volin Employment Law.

“Employees can try to negotiate for non-monetary benefits that an employer may be willing to give,” he said.

Workers can sometimes also try to negotiate with the company on health insurance, even though employers aren’t required to contribute to ongoing health insurance payments, said Liss-Riordan.

“This is a common issue that gets negotiated when an employee seeks counsel from a lawyer after they’ve been laid off,” she said.

SOURCE:https://brandspurng.com/2023/04/11/here-are-5-things-to-consider-before-signing-that-severance-package/

Many bank customers have lamented how monies are getting missing from their bank accounts.

While some have gotten resolution from their banks, many others are yet to have their monies returned to them

In case your bank does not refund your money, these steps will help you attract the attention of the Central Bank of Nigeria (CBN).

Many customers have been victims of unauthorized transactions or missing money in their

Especially in the last three months, there have also been hundreds of reports of PoS fraud and customers making transfers but the money did not reach the receivers’ bank accounts.

Every day, a number of customers troop to their respective banks to lay out these complaints, hoping that the banks will quickly resolve the issues and return their money. Unfortunately, in most cases, resolution is not as simple as clicking a bunch of keys on the keyboard of computers.

While some customers have been lucky to get a refund in a week or two, others have been quite unlucky as the issues may be out of the control of the banks and require further investigation.

Note that sometimes, the banks may not be culpable in some of these issues, as it may have been the fault of the customer who fell prey to scammers by disclosing vital information, misplacing their ATM card or phones that have direct access to their bank accounts.

Whatever the issues may be, it is only fair that all avenues to get your money back is explored. If you have exercised more than enough patience with your bank and have exhausted other options, it is only normal to escalate it to the apex bank for a possible final resolution.

When to make a complaint about your bank to the CBN
This article is based on the premise that you have already lodged your complaint before your bank and do not seem to have gotten a resolution.

The CBN expects the customer to direct his/her complaint to the bank/branch where the issue originated and then allow for a period of 2 weeks to a month, depending on the complaint to be resolved.

If the bank fails to engage the customer or resolve the complaint within 2 weeks or 30 days as the case may be, then the complaint must be reported to the Consumer Protection Department (CPD) of the CBN.

CBN’s Consumer Protection Department’s contact
The CPD attends to all financial-related complaints against financial institutions including commercial banks, microfinance banks, discount houses, and primary mortgage institutions.

SOURCE:https://brandspurng.com/2023/04/09/missing-funds-in-your-account-ways-to-report-to-cbn-and-get-your-money-back/

Steve Omojafor, Chairman, STB-McCann clinched The Industry Award for the Doyen of Advertising at the just concluded The Industry Award 4.0, while Felix King Eiremiokhae, Chief Executive Officer of MABISCO LIMTED won the award for CEO of the Year.

Also, Steve Babaeko, X3M IDEAS, Adedayo Ojo, Caritas Communication, John Ehiguese, Meadiacraft Association, Bridget Oyefeso-Odusami, Stanbic IBTC Bank, Olugbenga Victor Afolabi, GDM Group, Rotimi Bankole, SBI Stagwell, Charles Azu Chijide, Charella Nigeria Limited, Anthony Chiejina, Dangote Group plc, Nkechi Ali-Balogun, NECCI, Olalekan Fadolapo, ARCON, won the Industry Star Awards.

Speaking during the award ceremony recently in Lagos, the Chairman of the award committee Clara Okoro who is also the Chairman, Brand Journalists Association of Nigeria (BJAN) said that the categories is the representative of every industry, from fast moving consumer goods (FMCG), the banking sector, drinks and beverages, telcos among others brands.

According to her, “the scrutiny was very tied, and the parameters is that we were able to arrive at the brands that are reflective of engaging the consumer in the right way and if you have been nominated and win an award this night, you can be rest assured that you have passed through a thorough and deliberate process to arrive at that.”

“I want to commend the work that is been done by the convener of the Industry Summit/Awards, Goddie Ofose and his team to make sure that the industry is truly represented, noting that, everywhere in the world brands outlived government, government come and go but, brands stay, so brands are the real wealth creator of every economy.” She added.

Also speaking at the event, the Chairman of the occasion, who’s also the Chairman of STB-McCann, Steve Omojafor pointed out that, “the morning session was a huge success considering the papers that were presented were, and we all agreed that data is life, data is blood, and data should be taken into cognizance when it comes government planning and implications.”

Another area we discovered during the morning session is the shift in government policy, and what such policy is doing to our businesses. Government wakes up in the morning and comes up with a policy without caring to know how it affects our businesses, a typical example is the recent currency redesign by the central bank of Nigeria.



Continuing, the advertising guru said in this evening session, people are going to be recognised for their individual contribution to the growth of marketing and marketing communication in Nigeria, adding that organisations have also been invited to be recognized in terms of how well they manage various brands.



While giving his opening remark, the convener of The Industry Summit/Awards, Goddie Ofose who welcomed everyone to the event, specifically thanked the partners of the Industry Summit/Award 4.0 saying without them the event will never be a success.



According to him, “when I finished my tenure as the Chairman of the Brand Journalists Association of Nigeria (BJAN) in 2019, haven worked for several organisations, I felt it was about time I started something for the industry, and I met a few people who gave me their support and today we have the first marketing and marketing communication newspaper in Nigeria.”



“In the morning, we had a session of intellectual engagement that was thought provoking, and we are here this evening to say thank you to some brands and individuals who have done well so that they will continue to do well.” He added.

SOURCE:https://brandspurng.com/2023/04/05/top-brands-practitioners-win-the-industry-awards/

MFS Africa, the largest digital payments network in Africa, operating in over 35 African countries, has partnered with Access Bank, Nigeria’s largest bank which operates across 17 markets, to expand AccessAfrica remittance corridors.

AccessAfrica is Access Bank’s service that allows customers to conveniently transfer and receive money across the world from loved ones and business partners.

The partnership will provide simplified transfers for AccessAfrica customers, enabling real-time, cost-effective cross-border payments for individuals and businesses who want to send financial support to their families abroad or facilitate trade transactions. AccessAfrica customers will also be able to receive payments from all over the world through MFS Africa partners.

Commenting on the partnership with MFS Africa, Senior Banking Advisor, Retail, Access Bank, Robert Giles said, “This partnership builds on the existing cross-border payment infrastructure by Access Bank and would facilitate payments to more African corridors, increasing the number of countries we can send instant payments through Access Africa to. Our partnership with MFS Africa and access to hundreds of millions of people in the new markets will help our customers pay and be paid, facilitating greater economic inclusion through trade as well as helping families across borders. Critically this propels us closer towards being ‘Africa’s gateway to the world’ and democratizing access to payments through affordable, safe and reliable platforms.

“The partnership reaffirms MFS Africa’s commitment to making borders matter less for individuals and organisations across the continent, ultimately fostering financial inclusion. Through this partnership we’ll be expanding Access instant outbound remittance reach to potentially 400 million mobile wallets and more than 130 banks across over 35 African countries, enabling thousands of people and businesses throughout the continent to receive payments in real time from Nigeria, and improving convenience for and facilitating trade with the neighbouring countries and beyond. Uplifting the African continent through sustainable and accessible financial services has always been at the center of what we do at MFS Africa. Partnering with Access Bank, who shares this ethos, made complete sense,” says Dare Okoudjou, CEO at MFS Africa.

According to the International Fund for Agricultural Development, IFAD, migrant workers sent over US$95 billion to and within Africa in 2021, benefiting over 200 million family members, majority of whom live in rural areas. Through accessing MFS Africa’s hub, Access Bank will be able to send remittances and payments to MFS Africa’s footprint of over 400 million mobile money wallets, and over 200 million bank accounts across more than 35 African markets.

SOURCE:https://brandspurng.com/2023/04/03/mfs-africa-partners-access-bank-enable-outward-remittances-from-nigeria-and-kenya/

Cellulant , a leading payments technology company, aims to change how businesses in Africa make and receive payments by introducing online and offline payment solutions.


The payments market in Africa is experiencing rapid growth, mainly due to advancements in peer-to-peer (P2P) and consumer-to-business (C2B) payment solutions. However, the fragmentation of payment processing continues to pose a significant challenge for businesses seeking to establish a presence in Africa.

Solving intractable problems is not new to Cellulant; founded at the height of Africa’s mobile technology boom in 2003, Cellulant is building Africa’s most comprehensive payments infrastructure. The company offers a single API payment platform that enables businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards, or bank. Providing alternative payment methods for African consumers is particularly important on a continent that holds 70% of the world’s $1 trillion mobile money market. Card penetration sits at a 3% penetration rate – meaning global companies looking to expand into Africa need a payments partner that can offer alternative payment methods for the local market.

At the recently held 25th Annual Harvard Africa Business Conference in Boston, Cellulant’s Group CEO Akshay Grover stated, “Solving the payments challenges in Africa is not just about payments but accelerating global economic growth. Africa’s dynamic economies and lack of an established payment infrastructure have resulted in a unique occurrence on the continent. On the one hand, this has prompted the growth of payment platforms and solutions to meet the various needs of businesses and consumers, turning Africa into a centre of innovation in the payments sector. On the other hand, with multiple providers, a wide range of payment methods exists due to the absence of a consistent infrastructure enabling businesses to collect payments seamlessly or easily operate across borders. Therefore, a payments infrastructure in Africa must holistically address the needs of businesses and their consumers by making it easy to collect payments online and offline -regardless of the size of the business.”

Cellulant has built, Tingg, a payments platform that provides multinational and international businesses with a one-stop-shop solution for their payment needs across the continent. The payments gateway connects to over 370 payment methods from mobile money operators and banks across the continent to global and regional card switches such as Visa, Mastercard, NIBSS and Verve.

The payments platform has full-stack offline and online payment capabilities. It caters to businesses in various sectors, such as Airlines, Telecoms, E-commerce, Ride-Hailing, Retail and Remittances, enabling these businesses to deliver a frictionless payment experience to their customers. Today, Cellulant powers payments for renowned global companies such as Emirates, Bolt, KLM, Ethiopian Airlines, Glovo, Kenya Airways, and Jumia; and processes billions of dollars yearly.

SOURCE:https://brandspurng.com/2023/04/03/cellulants-payment-processing-platform-to-power-online-and-offline-payments/

National Association of Nigerian Students (NANS) Task Force on School Fees Increment NANS-SFIT, South West Zone has condemned the increase in tuition fees by the management of the Ekiti State University, Ado-Ekiti.

The body has therefore called on the Ekiti State Governor, Mr Biodun Oyebanji, to intervene and save the situation before it deteriorates.

In a statement by Comrade Wande Ajayi, the Chairman, and Comrade Adejuwon Olatunji, the Secretary of the Committee, they noted that the increase was not only inauspicious, but very untimely.

“The increment, which we regard is in bad faith, is aimed at pilling more untoward pressure on the already battered students of the institution considering the present state of the Nigerian economy. It is highly ignoble to test the will and might of already frustrated set of students who already are paying through the nose for the current fees.

“One wonders why they are hell bent on taking education away from the reach of the common man. We are appealing to the Ekiti State Governor, Biodun Oyebanji and the management of the school led by the Vice Chancellor, Prof. Edward Olanipekun, to immediately reverse the ungodly increment while they still can before Nigerian students, across the country are relocated to Ado-Ekiti.

“In line with the mandate bestowed on this committee by the NANS National Executive Council, we are giving the school management 48 hours to reverse the increment to status quo. A stitch in time, they say, saves nine.”

Recall that all the management of the institution recently increased the tuition fees payable by students from N100,000 to N150,000 for some courses and N350,000 to N750,000 for medical students.

SOURCE:https://brandspurng.com/2023/03/31/nans-school-fees-task-force-condemns-eksu-school-fee-increment/

The Food and Beverage Recycling Alliance (FBRA), in partnership with the United Nations Industrial Development Organization (UNIDO), held a seminar to raise awareness of the Promoting Sustainable Plastic Value Chains Through Circular Economy Practices for Recyclers Project in Abuja.

The aim of this collaboration is to contribute to Nigeria’s inclusive and sustainable industrial development and to reduce leakage of plastics into the environment.

The problem of plastic pollution has continued to grow in tandem with the increase in the use plastics, necessitating the application of measures to help mitigate the problem by ensuring a circular economy. One of such measures is the awareness-raising seminar targeted towards promoting circular economy principles and practices to ensure resource efficient production for plastic value chains in Nigeria.

Participants in the training included relevant stakeholders across the plastic value chain in Abuja and other states in northern Nigeria. Also in attendance were representatives from FBRA’s member companies, Plastic Waste Value Players: Waste pickers, Collectors, Aggregators, Recyclers and Off-takers. representatives from UNIDO, NESREA and the Federal Ministry of Environment were also present.

Amongst topics discussed during the technical sessions are Resource Efficient, Cleaner Production and its Benefits, Circular Economy, and Plastic Packaging. Nishio Nahomi, the UNIDO Project Manager, emphasised the importance of Promoting Sustainable Plastic Value Chains Through Circular Economy Practices for Recyclers project for Nigeria. Recommendations include the demonstration of Circular Economy through Resource Efficiency and Cleaner Production (RECP) assessments, adoption of innovative technology and partnership with pilot companies committed to exploring Japanese improvement options.

Mr. Chukwudi Nwabuisiaku, Assistant Director, Plastics Waste Control at National Environmental Standards and Regulations Enforcement Agency (NESREA), spoke on the need to adopt circularity within the plastic value chain. He also reassured the participants of the NESREA’s unwavering support for the success of the Promoting Sustainable Plastic Value Chains Through Circular Economy Practices for Recyclers project. Participants expressed their appreciation of the training and the impact it would have on their businesses. A representative of Boskel Nigeria Limited thanked FBRA for such an initiative and said he is eager to incorporate the new learnings in his business.

Rounding up the event, Victoria Uwadoka, Corporate Communications and Public Affairs Lead for Nestlé Nigeria Plc, a founding member company of FBRA, thanked everyone present and encouraged participants to continue to strive towards achieving the end goal which is plastics circularity. She also expressed the willingness of FBRA to continue to provide the support needed to transition to this circular economy for plastics in Nigeria.

SOURCE:https://brandspurng.com/2023/03/30/fbra-partners-with-unido-to-train-recyclers-and-manufacturers-of-plastic-in-abuja/

In commemoration of World Water Day 2023, Nestlé Nigeria took the message of responsible water management to over 160 children and teachers from public and private primary schools, in collaboration with the Ogun State Rural Water Supply and Sanitation Agency and the FCT Rural Water Supply and Sanitation Agency.

The events included a tour of the company’s water plants in Agbara, Ogun State and Abaji, in the Federal Capital Territory. Activities included games to help the children inculcate the right habits in the way they use, consume, and manage water, to help them become better stewards of this precious resource.

World Water Day is an annual United Nations observance to raise awareness about the importance of water and the impact of our actions on preserving this scarce resource today, and for future generations. The theme for this year’s celebration is “Accelerating Change”.

Joy Abdullahi-Johnson, Marketing and Category Manager for Nestlé Waters Nigeria said, “Water is the most critical natural resource for human survival, after air. It therefore needs to be managed in a way that is equitable, environmentally sustainable and economically beneficial. With the increasing pressure on our water resources, we all need to work together to preserve this vital resource we all depend on”.

“At Nestlé, we believe that equipped with the right information, children can become good stewards of the environment from an early age. We are therefore excited to be at the forefront of efforts to educate these young ones today”, she added.

In his comments at the Agbara factory, Mr Sola Ogunbor, the Program Manager Ogun State Rural Water Supply and Sanitation Agency, said, “World Water Day is another opportunity to emphasis the need for daily consumption of clean water in adequate amounts for optimal hydration and healthy living. Children can contribute to accelerating the needed change by adopting new behaviours on how they use, consume, and manage water in their daily activities, to avoid wastage of this precious resource”.

On her part, Chinyelu Obrike, Head, Water Supply, FCT Rural Water Supply and Sanitation Agency said while speaking at the Nestlé’s factory in Abaji said, “Every action, no matter how small, will make a difference. Children are agents of change. They are quick to learn and eager to pass across messages learnt to their friends, parents, teachers and peers. This educational advocacy will bring rapid transformative change needed to fast-track the achievement of SDG 6 – water and sanitation for all. We are happy to be collaborating with Nestlé Nigeria on this laudable initiative”.

Esther Samuel, a primary 5 pupil of Salvation Army School 1 Agbara, said, “I am very happy to be part of this event. I really enjoyed the tour of the factory. I have learnt a lot about how to use and conserve water, and not waste it. I am ready to practice what I have been taught at home and I will definitely teach my siblings and friends all I have learnt. I want to thank Nestlé and my school for giving me this interesting experience”.

Nestlé Nigeria is committed to protecting the environment for future generations. Caring for water is one of the ways we do this.

We reach over 8,000 children annually with information on healthy hydration and water conservation through the Nestlé for Healthier Kids initiative, a school-based nutrition education program.

We also work with stakeholders and partners to increase access to clean, safe water, sanitation, and hygiene facilities (WASH) for individuals and families as well as teachers and students in schools within our communities.

SOURCE:https://brandspurng.com/2023/03/31/world-water-day-2023-nestle-nigeria-educates-children-on-water-stewardship/

Lagos State Government (LASG) through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding (MoU), with eTranzact, a foremost Fintech Company, to curb unregulated development, manage setbacks and open spaces and improve beautification of the environment in Lagos State.

The Memorandum of Understanding will strengthen the partnership between Lagos State Planning and Environmental Monitoring Authority (LASPEMA) and eTranzact, to sanitise and regulate activities of setbacks and Incidental Open Spaces (IOS) and ensure physical orderliness in Lagos State.

With its MoU with the Ministry of Physical Planning and Urban Development, eTranzact, will deploy an integrated technology solution for data collection, management, and digitization of revenue collection processes from the informal business players operating on the setbacks and Incidental Open Spaces (IOS) in Lagos State to regulate setbacks/IOS and enhance the State Internally Generated Revenue.

The MoU was signed by the Commissioner for Physical Planning and Urban Development, Engr. Omotayo Bamgbose-Martins, who was represented by Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Planning Matters, Dr. Olajide Babatunde and Permanent Secretary of the ministry, Mr. Oluwole Sotire, who signed on behalf of the government and the Managing Director of eTranzact, Mr. Niyi Toluwalope and Group Head, Legal of eTranzact, Ms. Eme Godwin, who signed for the Fintech company.

Speaking during the signing of the MoU held at the State Secretariat in Alausa, Ikeja, Dr. Babatunde said the initiative was a public-private partnership that would yield a good result hence the need to take care of the environment.

He said the MoU is for accountability and in the interest of the general public in Lagos State, as well as improving the IGR of Lagos State.

Also speaking, the Managing Director of eTransact, Mr. Niyi Toluwalope, said his organization is partnering with Lagos State Government for social development, noting that the project would develop solutions on data, enumeration, reordering setbacks, putting incidental open spaces in an orderly manner, among other benefits.

He said: “eTranzact is a premier technology solutions company in Nigeria. Today we are partnering with the Lagos State Government and LASPEMA for the enumeration and data management of the occupants of the setbacks and incidental open spaces within the City. We are licensed by the Central Bank of Nigeria (CBN) to provide this service.

“The Lagos State Government has taken this laudable initiative to identify the setbacks, enumerate the people on these setbacks, do the necessary data capture, and manage the entire setback infrastructure in the State so that it is structured; following the proper model for setbacks, improves beautification, improves transparency within the environment and ensures that our critical urban infrastructure is well laid out properly to ensure Lagos functions as a major critical landmark with global recognition.

“We are committed to partnering with the State government to build a beautiful and prosperous Smart City for all. As Nigeria’s Super Fintech Choice, eTranzact is committed to providing payment technology support for all public and private stakeholders.”

Also speaking, the General Manager of LASPEMA, TPL Daisi Oso said the agency was saddled with addressing challenges that were associated with managing and regulating all activities on setbacks so as to ensure orderliness while leveraging technology.

He said the agency is saddled with the deployment of drones for mappings, collaborating with other ministries, departments, and agencies on urban development to improve security and order in the use of land in tandem with the state’s developmental plans to enhance social and political sustainability of businesses.

Oso also disclosed that Governor Babajide Sanwo-Olu in a bid to further align the LASPEMA’s mandate with the incumbent administration’s T.H.E.M.E.S Agenda graciously approved the partnership and the pilot project of some selected areas in Lagos State.

SOURCE:https://brandspurng.com/2023/03/29/lasg-signs-mou-with-fintech-company-etransact-on-management-of-setbacks-open-spaces/

The Board of Directors of the African Development Bank (AfDB) approved a grant of $28.49 million for Ghana to construct renewable energy infrastructure that will increase its renewable energy use by 10% through 2030.

With the latest Board approval of $28.49 million, the project’s total cost of $85.18 million is in the coffers. The African Development Fund, the Bank’s concessionary window, has provided $27.39 million while Switzerland’s State Secretariat for Economic Affairs and the government of Ghana have contributed $13.30 and $16 million respectively.

The project consists of the design, engineering, supply, construction, installation, testing and commissioning of renewable energy systems on the island communities in the Volta Lake region.

It is expected to contribute to closing gender gaps at the outcome level by creating 2,865 equitable jobs and livelihood opportunities out of which 30% will be for women and youth.

Under its New Deal on Energy for Africa, the African Development Bank seeks to promote the reduction of greenhouse gas emissions on the continent as well as light up and power Africa as part of its High 5 priority objectives for enhancing the continent’s socioeconomic development.

The project consists of the design, engineering, supply, construction, installation, testing and commissioning of renewable energy systems on the island communities in the Volta Lake region.

It is expected to contribute to closing gender gaps at the outcome level by creating 2,865 equitable jobs and livelihood opportunities out of which 30% will be for women and youth.

Under its New Deal on Energy for Africa, the African Development Bank seeks to promote the reduction of greenhouse gas emissions on the continent as well as light up and power Africa as part of its High 5 priority objectives for enhancing the continent’s socioeconomic development.

SOURCE:https://brandspurng.com/2023/03/29/afdb-approves-28-49-million-grant-to-enhance-ghanas-universal-electrification-goal/

Access Bank
Bank of Zambia, has announced its approval of the acquisition of the African Banking Corporation Limited (Atlas Mara) by Access Bank Zambia Limited and thereby announcing a merger between the two financial institutions.

According to a statement released by the Bank of Zambia assistant director-communications, Besnart Mwanza released on Saturday. He said that the two banks would operate as separate entities in the meantime while the process of regulatory consolidation and transitioning was completed.
He said “The Bank of Zambia announces that it has approved the acquisition of African Banking Corporation Limited (Atlas Mara) by Access Bank Zambia Limited and the subsequent merger of the two entities effective March 23, 2022. This approval is reflective of the Bank of Zambia’s commitment to financial system stability and support to the banking sector”.

The merger between the two banks was first announced in October 2021, when Access Bank Plc, entered a binding pact with Atlas Mara Zambia, which has now morphed into a full acquisition of Atlas Mara.

Access bank Zambia hopes to become one of the top lenders in the Southern African country with the new merger. It hopes to deliver 70 branches and agencies and total assets in the neighborhood of #$1 billion as well as over 300,000 customers in Zambia.

SOURCE:https://brandspurng.com/2023/03/28/bank-of-zambia-announces-merger-between-atlas-mara-with-access-bank/

As part of its aim to continue to make its operations in Nigeria competitive, profitable, and sustainable Unilever Nigeria Plc. announced changes in its business model that will accelerate growth and sustain profitability while enhancing its ability to meet consumer needs.


The 100-year-old consumer goods company will repurpose its portfolio while putting in place measures to make the business more efficient and fit for the future.

The company’s Managing Director, Carl Cruz, said, “All companies need to adapt to changing market circumstances and now is the right time for us to reposition Unilever Nigeria Plc. to better meet the needs of our consumers, shareholders, and employees. We are a truly Nigerian business and the oldest serving manufacturer in the country. By making these changes, we will unleash the sustained and profitable growth we need to be here for the next 100 years as well.”





Cruz noted that Unilever Nigeria Plc. is repurposing its portfolio by gradually exiting two categories, Home Care and Skin Cleansing, affecting only 3 brands (OMO, Sunlight and Lux) with the company better poised to drive the rest of its brand portfolio for growth into the future and strengthen business operations with measures to digitize and simplify processes.

SOURCE:https://brandspurng.com/2023/03/26/unilever-nigeria-reaffirms-commitment-to-strengthening-operations-in-nigeria/

The African region is recording around 4% annual decline rate in tuberculosis (TB) cases. Although the rate is double the global pace, the region risks missing major milestones and targets to end the disease if efforts are not scaled up rapidly.

The World Health Organization’s (WHO) End TB Strategy calls for countries to reduce TB deaths by 75% and cases by 50% by 2025 compared with the 2015 levels. To cross the 2025 milestone, the annual pace of reduction should reach 10% per year.

Yet despite the slowing pace towards the 2025 target, the African region has made progress in recent years. For example, TB deaths in the region fell by 26% between 2015 and 2021, with high burden TB countries surpassing initial targets to lower TB cases. Accelerating TB elimination progress is crucial. This year World TB Day is being marked today under the theme “Yes, we can end TB” to spur national action to bolster TB prevention and control.

“African countries have made remarkable progress against TB. The question is no longer about whether we can end TB, but how fast we must act to reduce the disease burden, save lives and maintain a high momentum towards a TB-free world,” said Dr Matshidiso Moeti, WHO Regional Director for Africa.

The End TB Strategy also sets 2030 targets to cut TB deaths by 90% and cases by 80% for which the annual reduction progress must be accelerated to 17%, and further reductions to realize the 2035 vision of a world free of TB.

African countries have increased the uptake of new WHO-recommended tools and guidance, resulting in early access to TB prevention and care and better outcomes. The proportion of people diagnosed with TB who were initially tested with a rapid diagnostic, for example, increased from 34% in 2020 to 43% in 2021.

However, major barriers to ending TB persist. They include limited access to health services, inadequate health infrastructure, insufficient quality of care, inadequate human and financial resources for health and inadequate social protection.

Underinvestment by governments in TB control programmes is a significant drawback to the fight against the disease. For instance, of the estimated US$ 3.9 million required for the African region’s 2018–2021 TB response plan, only US$ 957 million were mobilized each year for prevention, diagnosis and treatment of the disease.

Africa still records a significant gap between the estimated number of TB cases and those that are diagnosed. In 2021, the latest year for which data is available, an estimated 40% of cases were not reported or diagnosed. The region also accounts for 23% of the estimated global TB burden and over 33% of global TB deaths.

In September, a high-level meeting on TB will be held during the UN General Assembly bringing together heads of state to help ramp up action and accelerate TB control efforts.

“TB control efforts require concerted action by all: communities, governments, the private sector and international partners. Our region still suffers unacceptably high TB toll. Without robust joint efforts, this preventable and treatable disease will remain a serious public health threat with costly impacts for individuals and societies,” Dr Moeti said.

SOURCE:https://brandspurng.com/2023/03/24/africas-tuberculosis-reduction-rate-falls-short-amid-slowing-global-progress/

The success of mobile money in Africa is well known. If you’ve paid any attention to the continent’s financial and technology spaces over the past decade or so, you probably won’t be surprised to learn that it accounts for around 70% of the world’s US$1 trillion mobile money value.

You’d probably also be unsurprised to learn that in Kenya, the country that effectively kick-started Africa’s mobile money revolution, mobile money transactions now account for 56.8% of GDP. What you might not know is that mobile money has long played (and continues to play) an important role in empowering women across Sub-Saharan Africa.



That’s important because, despite gains in representation (in 11 African countries, women hold over a third of parliamentary seats, more than in Europe), gender inequality remains stark across Africa. While there are obviously differences from country to country, women throughout the continent fare worse than their male counterparts in a number of measures, including wages, investment, access to capital, and education.



Of course, mobile money can’t fix all of those issues on its own. That requires serious investment as well as shifts in policy and societal attitudes. But it can play a significant role in making life better for women across the continent, especially when it comes to financial inclusion.



Taking care of business



That’s not just conjecture either. Research conducted on behalf of the World Bank shows just how substantial the impact has been. It notes, for example, that mobile money has enabled Kenyan women to move away from subsistence farming and towards business and retail, helping alleviate poverty in the country.



The research further notes that, for individuals and households, mobile phones can help reduce transaction costs, lower travel costs, improve welfare by smoothing unexpected income shocks, increase security, and facilitate remittances.



Perhaps the most significant impact, however, lies in what mobile money can do for female entrepreneurs.



Using mobile money leads to a 19.8% increase in the likelihood of female-led businesses receiving investment from outside sources. Given that the average capital investment by female-owned firms is more than six times lower than the average for male-owned firms in Africa, that’s especially critical.

That same World Bank research shows that such female-owned businesses are then more likely to invest that money in fixed assets and their business’s expansion, more likely to offer credit to customers, demand credit, and have better relationships with suppliers



A state of constant evolution



It’s also worth noting that mobile money has evolved considerably since it landed on the African continent, further enhancing its ability to empower women.



Advances in interoperability, for example, mean that it’s easier than ever for people and businesses on different mobile money systems and in different countries to send and receive money. That has massive potential benefits for female entrepreneurs as it allows them to sell their products across borders without having to rely on traditional international ecommerce infrastructure that can be costly, resource intensive, and require business owners to travel away from home on a regular basis using unsafe or unreliable modes of transportation. Unlocking new markets is vital for any business’s ability to scale and grow.



In the coming years, mobile money will continue to evolve in new and innovative ways. And if history is anything to go by, then women will embrace and benefit most from those advancements.



Breaking barriers across borders



That’s because financial inclusion is the most effective way of reducing inequalities. That’s especially true for women. And few technologies have fostered that kind of inclusion as successfully as mobile money has. It has given unbanked communities and people in remote and rural areas the kind of access to financial services that would’ve taken far longer if they’d had to rely on traditional financial institutions. The fact that it’s had such a profound and lasting impact in elevating women across the continent should, therefore, never be underestimated.

SOURCE:https://brandspurng.com/2023/03/24/the-exciting-relationship-between-women-and-mobile-money-in-africa/