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Innovation Summit to Address Gaps in Payment System

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Tunde Ogungbade, Managing Director of Global Accelerex

A summit on Point of Sales (PoS) terminal transactions in the country has been scheduled to hold in Lagos on the 29th September 2017.

The program which is an intervention to address the gaps noticeable in the expectations of stakeholders and the reality in the of the PoS business sector of the Nigerian payments system has been put together by one of the Central Bank of Nigeria licensed Payment Terminal Service Provider (PTSP), Global Accelerex Limited.

Speaking on the summit, Mr. Tunde Ogungbade, Managing Director of Global Accelerex, pointed out that the motivation behind the summit is the need for stakeholders to jointly address issues mitigating the achievement of optimum performance and results in the PoS business in Nigeria.

Going down memory lane, he said the effective and full-scale introduction of Point of Sales terminal as a recognised channel of transaction in Nigeria occurred with the introduction of the cashless policy by the Central Bank of Nigeria in 2012 and that prior to this time, transactions via the PoS occurred in trickles.

The introduction of the cashless policy gave rise to a lot of interest in the PoS business with resultant investment by various stakeholders – banks, terminal suppliers, Payment Terminal Service Providers (PTSPs), Payment Terminal Application Developers (PTADs), Payment Card manufacturers etc. However, few years down the line, a review of the performance of the PoS sector revealed a very wide margin between stakeholder expectations and realities in terms of performance, adoption and of course Return on Investment (RoI) in spite of the potentials and the opportunities available in the industry – PoS penetration is still low as there is need for more devices with innovative retail offerings.

He stated further that the summit, which would be held on a quarterly basis is an intervention designed as a platform to address the noticeable gaps in the PoS business in Nigeria as well as to promote the adoption and usage of innovative PoS solutions in order to achieve the objectives of attaining sustainable growth in the sector. Each edition of the summit will focus on a wide array of issues such as innovation, security of transactions, financial inclusion, fulfilment of customer expectations, business sustainability and profitability and other critical topics.

Notable leaders of thought and industry experts invited as resource persons at the summit include – Dr Doyin Salami from Lagos Business School, Mr Musa Jimoh – Deputy Director, Banking & Payments System, CBN, Mr Sarafadeen Fasasi – Chairman, Association of Mobile Money Operators, Mr Prakash Keswani, the Managing Director – Artee Industries Limited (SPAR), the Managing Director, Hard Rock Café and Mr Tunde Ogungbade, Managing Director, Global Accelerex

Participants at the summit will include representatives of all major stakeholders – banks, terminal manufacturers, merchants, system aggregators and regulators among others.

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Reps Mull New Broadcast Law

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House of Representatives on Thursday sought the enactment of a new broadcast law for the country to incorporate digital broadcasting.

 

Principally, the House wants the new law to clearly define the “roles and responsibilities of the Federal, State, Local Governments and the private sector.”

 

Innovations expected include legalising Digital Access Fee and Conditional Access Fee.

 

The recommendations were contained in the report of an ad hoc committee of the House, which investigated the “Process of Digital Switch Over in Nigeria.”

 

The House considered and approved the recommendations at its session presided over by Mr. Yussuff Lasun, deputy speaker, in Abuja.

 

The report was laid by Mr. Sunday Katung, committee chairman..

 

The report also sought the amendment of the National Broadcasting Commission Act to strengthen its regulatory duties and “develop a standard regulatory documentation for digital broadcasting, as contained in the White Paper report.”

 

The House added, “The NBC and the Ministry of Information should develop the proposed National Media Content Policy for Digital TV era, covering a media content Master Plan.”

 

On the manufacturing of Set Top Box for the operation of the switch over era, the House asked the Standard Organisation of Nigeria (SON) to monitor compliance with standards, “to avoid a situation where the country is turned into a dumping ground for sub-standard and obsolete equipment.”

 

It also recommended the withdrawal of the licences awarded to manufacturers to produce the boxes if they fail to establish plants in the country.

 

The House noted that the idea of establishing plants in the country was to generate employment opportunities for its army of unemployed youths.

 

The House called for a thorough supervision of the ongoing implementation of the DSO in phases and directed that “at least 80 per cent of an assigned state” should be covered before moving to another state.

 

It also directed that “analogue broadcasting should not be switched off until 95 per cent DSO coverage is achieved in the country.”

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Somkele In A New DStv Explora Commercial

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By peter oluka

MultiChoice Nigeria has unveiled a brand new campaign for itsdecoder, the DStv Explora 2 which features its latest brand ambassador, AMVCA 2017 Trailblazer award winner, Somkele Iyamah-Idhalama.

The 60 second video highlights the featuresof the all new sleeker decoder model, which Somkele animatedly discloses through different scenes; revealing that with the instant replay, pause and record features, the Explora gives her more flexibility and the ultimate home entertainment control.

With other features such as the BoxOffice and Catch Up Plus, customerscan conveniently rent and watch latest blockbuster movies on their Explora decoders. Theycan get instant access and double the number of amazing lineup of the latest and greatest shows and movies once their Explora is connected to the internet.

Martin Mabutho, the general manager, Marketing and Sales, MultiChoice said: ‘’The DStv Explora gives customers more control over their viewing experience. We believe in delivering value to our customers by shaping the business to respond to our customers’ needs. The new decoder is poised tochange viewing experience with more options and features with a click of a button’’.

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Kwesé TV, TV One Sign 3-Year Exclusive Broadcast Deal

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Kwese TV Africa’s Dynamic satellite TV network, has signed an exclusive broadcast deal which will see the addition of TV One content to its programming.

With a brand promise to represent the best of African American culture and entertainment, past, present and future, TV One content soon will be available to Kwesé TV viewers across the continent.

The addition of TV One programming adds a broad range of real-life and entertainment-focused original programming, classic series and movies.

Econet Media President and CEO, Joseph Hundah, comments on the deal: “We are always looking for fresh, rich and entertaining content to add to our line-up, thus the addition of TV One to our bouquet is great feat,

“The network’s compelling and distinctive programming will help broaden and strengthen the diversity of our international content offering. We are confident TV One’s high-quality and well-rounded content will captivate viewers across the continent.”

The three year partnership will see in excess of 25 of TV One’s most popular titles and series, including When Love Kills: The Falicia Blakely Story, Love Under New Management: The Mikki Howard Story, The Black List and sitcoms Born Again Virgin and  Love That Girl.

Michelle Rice, TV One’s Interim General Manager and EVP, said “We thank Kwesé for its partnership and commitment to offering their consumers an opportunity to experience the best in African American culture and entertainment,”

 “We are delighted thatKwesé TV viewers will now have access to TV One’s robust slate of informative and entertaining original programming created with the urban audience in mind.”

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