News
ECOWAS Plans Technology Hubs in Nigeria, Others
ECOWAS says it is developing an information technology “innovation hubs” in member states to address unemployment in the region. ECOWAS Commissioner for Telecommunications and Information Technologies, Dr Isaias Barreto da Rosa, disclosed this in Abuja on Friday.
He said that the regional bloc was concerned with developing projects and initiatives that “touch the lives of its citizens”.
‘’We have this project which is the innovation hub; we have many talented young people in West Africa and our unemployment rate is very high. “If we manage to train some of them in entrepreneurship, this can be of assistance so that they can start their small ICT-based business.
“We do believe that our young people can develop solutions and products, put them online and sell to a market of not just 300 million people but seven billion people.
“That is why we have this youth entrepreneurship initiative to promote the establishment of the youth innovation hubs all over our 50-member-states so that we can assist young people with their business ideas, especially ICT-based business ideas.”
The ECOWAS commissioner said that the project launched in 2016 was to complement existing youth initiative programmes in member states.
He said that the commission was also working with governments of member states to promote the establishment of these hubs.
“We are working with governments to promote the establishment of these hubs through equipment, training, organisation and competition.
“We will select those young people who have innovative ideas and give them training; and try to sponsor some activities they intend to implement so they can move ahead with their ideas,” he said.
According to him, the commission will work with the private and development partners to facilitate the process.
News
Coronation Report Reveals Key Role of Private Sector to Nigeria’s Infrastructure Funding
The maiden edition of Coronation group infrastructure report has revealed that the private sector has a critical role to play in infrastructure funding in Nigeria.
The report stated that the key to private-sector infrastructure investment is for dealmakers to structure transactions that offer attractive returns combined with an acceptable degree of risk, the risk often being eased by agreements supplied by infrastructure investment vehicles such a Infracorp.
The report said that the investor base can play its part, providing liquidity as part of its own efforts to create long-term returns with low relationship with public markets.
The report noted that Nigeria’s future infrastructure development depends on private capital, including capital allocated to Public Private Partnership (PPP) ventures, given the huge amounts of money required and the inability of government to provide it.
The report explained that the record of the federal government in capital expenditure over several decades highlighted the need for increasing private-sector investment, adding that public expenditure on transportation, education, hospitals, power, housing, and other essential infrastructure has not kept up with the needs of a population growing at a long-term rate.
The report said Public-private partnership differs from government capital expenditure in that it must pay for its capital, noting that it must attract private sector capital and therefore provide better returns than the risk-free returns of government debt.
According to the report, “Inflows of petro-dollars into government coffers did not translate into proportionately more being spent on capital expenditure, surely a missed opportunity. Still worse was to follow in the period 2011-2020 when the average level of public sector capital expenditure fell to 1.1 percent of Gross Domestic Product (GDP).”
News
DLM Asset Management Set to Host Webinar to Discuss Financial Stability in Times of Economic Distress
DLM Asset Management Limited, a subsidiary of DLM Capital Group, is hosting a webinar with the theme, “Maintaining financial stability in times of economic distress.” The much-awaited webinar, slated for Thursday, March 28, 2023, at 11 a.m., is going to cover the essential strategies to navigate through economic challenges and safeguarding one’s financial future.
Hosted by industry experts, the webinar will delve into the following key topics and teach attendees:
- How to adopt a proactive, knowledgeable, and adaptable approach to risk assessment and mitigation.
- How to thrive in this present economy and remain financially resilient.
- Financial planning and discipline
During its interactive Q&A session, attendees will have the opportunity to ask questions and learn more about the subsidiary’s services from the hosts and speakers of the webinar. This includes the DLM fixed income fund, which Nairametrics identified as one of the top-performing Nigerian mutual funds in 2023.
This webinar is designed for investment savvy individuals Income earners, institutional and corporate investors, high net worth individuals, and the mass retail market.
Interested parties can register for the webinar by using this link, which is currently active. Seize the opportunity to gain experience on insightful things and get ready for a rewarding encounter.
News
Firm Canvasses Affordable Technology to Drive Business Efficiency
Information Communication Technology (ICT) service provider, Thamani Consulting, has stressed the need to make technology much affordable so as to make businesses seamless and efficient.
Olubunmi Abegunde, Managing Partner of the company, averred that making technology access affordable would enhance its penetration and increase uptake of digital technologies to drive employment growth of more than 22 million Africans joining the workforce each year.
He explained that the organisation remained committed to empowering businesses to thrive in Nigeria’s dynamic environment, hence churns out innovative solutions to address business problems across disciplines.
“Leveraging 20 years of combined market experience executing successful IT Projects with local and multinational organisations, we aim to capitalise on this to improve strategic utilisation of technology in Africa and support capacity building through access to requisite information technology,” he said.
He explained further that the African region more than others need increased usage of digital technologies to level-up globally, noting that polices to drive low-end technology access must be prioritised.
“This is why we do not compromise the balance of quality, standard professionalism and yet affordability in the choice of solutions we offer to clients which include: SAP training and Implementations, Software Asset Management, Plant Maintenance Process Automation and Automation for manufacturing Industries, amongst others.”
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