Connect with us

Telecom

Corporate Governance Way Out of IT Industry Rifts -Ndukwe

Published

on

Kindly share this post

 

Dr. Ernest Ndukwe, the former executive vice chairman, Nigeria Communications Commission  has identified non adherence to the principles of Corporate Governance as the pest eating deep into the telecomm sector in the country, Nigeria CommunicationsWeek can report.

 

Speaking at a-day stakeholders’ management forum organized by NCC in Lagos recently, Ndukwe listed transparency, accountability to stakeholders, operating under the onus of the law, making informed disclosure, risk management and ensuring competitiveness as paramount principles of the corporate governance the operators must leave up to ease avoid suspicions among customers and dearth of companies in the industry.

 

He said that investigations have shown that dearth of telecomm companies was aggravated by the withdrawal of their major financiers like banks following the inability of the affected companies to marry technology advancement and institutional management.

 

“Sub-optimal corporate governance complicates the work of the regulator,” Ndukwe disclosed, stressing the need for the operators to, “openly admit to customers of shortcoming and stating measures being taken to correct same, which is critical for transparency and sustenance of corporate governance”.

 

According to the former EVC, investigations into corporate governance scandals proved that lack of transparency, deliberate accounting fraud, weak board oversight and failure of internal controls are significant shortcomings inherent among some companies in the industry.

 

Mrs. Omobola Johnson, minister of Communications Technology, who was represented by Engr. Ngozi Ogujiofor, the deputy director, Telecoms and Postal Services, in the ministry described the forum as a giant step to drive the sector to an enviable height.

 

She maintained adherence to the doctrine of corporate governance coupled with timely remittance of taxes will resonant confidence of investors in the sector, and assist the government in meeting up with the challenges that bedevil the industry.

 

According to the Minister, new researches revealed that $2.1 trillion investment will be recorded in the sector this year and expected to reach $2.7 trillion in 2017.

 

“Investors will continue to fuel opportunities in the sector, hence operators are operating under the corporate governance principles, not drifting from the laws and give respect to the customers,” she advised.

 

Earlier, Dr. Eugene Juwah, the executive vice chairman, NCC, represented by Chief Okechukwu Itanyi, executive commissioner, Stakeholders’ Management, NCC, noted that the forum was borne out of NCC’s desire to sustain growth, eliminate squabbles and dearth of companies in the sector.

 

He said that submissions made at the forum will assist NCC in formulating Corporate Governance Guide in the industry, adding that telecomm landscape has changed over the last decade.

 

“The information age is no longer futuristic, but here with us. In essence, NCC is seeking ways to shape the behavioural procedures on which companies in the sector ride on. Is going to be a structure aimed at sustaining growth,” Juwah said.

 

According to him, the industry plays need not only improve on their infrastructural baseline, however, skilled and motivated manpower is also key for effective growth.      

 

 

 

 

 

       

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Continue Reading
Advertisement
Comments

Telecom

IHS Partners LSI to Deepen STEM in Schools with Global Educators Program

Published

on

Kindly share this post

Telecommunications infrastructure provider, IHS has expressed commitment to advancement of Science Technology Engineering and Mathematics (STEM) through the Global Educators Program.

Global Educators Program is one-year sponsored training on STEM and space education of secondary school teachers, hosted in the United States and partially in Nigeria.

The program is sponsored by IHS Nigeria in collaboration with Limitless Space Institute (LSI).

The ten beneficiaries, selected from various regions across Nigeria, were hosted at a roundtable event in Lagos recently organized by IHS Nigeria and LSI.

The program, a ground-breaking initiative aimed at providing professional development in STEM fields tied to space exploration, seeks to inspire both educators and students while enhancing STEM learning experiences.

Speaking on behalf of IHS Nigeria, Mohamad Darwish, Chief Executive Officer commended the teachers for their commitment to advancing STEM education. He pledged IHS Nigeria’s ongoing support for initiatives that train more teachers and students in STEM and space science education.

In addition, Dapo Otunla, Chief Corporate Services Officer at IHS Nigeria, expressed his pride in the program’s success.

“For us, education and economic growth are key pillars of our sustainability program, with the mind as the foundation for all progress,” he said. “IHS has been deeply involved in educational initiatives, especially in STEM, as we are fundamentally a company of engineers. Partnering with LSI aligns perfectly with our Mission T program, which promotes STEM education.”

Otunla highlighted that IHS Nigeria, which started operations in 2001, has invested in technology innovation hubs, such as those in Alimosho, Lagos State, and Ogbomosho, Oyo State, to support education and technology advancement across Nigeria.

Also speaking at the event, Kaci Heinz, LSI’s Executive Director, disclosed that over 200 teachers from public schools across Nigeria applied for the program, with only ten ultimately selected to join an additional ten teachers from Brazil for the year-long training.

“By connecting STEM education with the captivating subject of space, we aim to inspire both educators and students while simultaneously enhancing STEM learning experiences,” explained Heinz.

“These teachers are expected to return and impart the knowledge gained to their students, nurturing a new generation of interest in STEM education.”

Beneficiaries’ Share Experiences

The ten beneficiaries, who shared their experiences at the event, expressed immense gratitude for the opportunity provided by IHS Nigeria and LSI.

Maranatha Haa, a Chemistry teacher from Federal Government College, Jos, noted, “This program has introduced me to the exciting possibilities of space science and the importance of collaboration across borders. I’m eager to share what I’ve learned with my students and fellow educators.”

Mr. Olayinka Adeoshun, from Ilupeju Junior Grammar School, Lagos, shared, “The training has exposed me to what I could never have imagined in space science. My students are now more motivated than ever in space technology education. We’ve even established a virtual knowledge exchange program with the Space Institute in Houston.”

Blessing Akila, from ECWA Secondary School, Makurdi, expressed her excitement about the program’s impact on her teaching approach. “One of the subjects we were taught was Geometric and Space, which has helped simplify mathematics for my students, many of whom previously had a phobia for the subject. I want to thank IHS and LSI for this life-changing opportunity.”

Other beneficiaries who shared their experiences included Oluwabanke Adewusi from Itire Community Senior Secondary School, Lagos; Joshua James from Greenpath Preparatory School, Abuja; Soji Megbowon from Ifesowapo Aboru Senior Secondary School, Lagos; Ngobiri Abraham from Federal Government College, Enugu; Wahab Abubakar from Sango Senior Secondary School, Ilorin; Kayode Adewale from Odu’a Comprehensive High School, Ijebu Ode; and Rashidat Ademosu from Eva Adelaja Girls Junior Secondary School, Lagos.


Kindly share this post
Continue Reading

Telecom

Mastercard, KaiOS Technologies Partner to Democratize Digital Payment for millions of SMEs

Published

on

Kindly share this post

KaiOS Technologies, a leading operating system that brings the best of the internet to affordable devices, today announced a collaboration with Mastercard to integrate a range of digital payments solutions.

Beginning in Cote d’Ivoire and Nigeria, Mastercard and KaiOS Technologies will deliver affordable payment acceptance devices and stimulate the growth of a more inclusive, connected global economy.

Beginning in Cote d’Ivoire and Nigeria, Mastercard and KaiOS Technologies will deliver affordable payment acceptance devices and stimulate the growth of a more inclusive, connected global economy.

Small and medium-sized businesses (SMEs) – especially in developing markets – still struggle to adopt digital payments, from the expenses linked to traditional payment acceptance terminals to technical implementation challenges.

This, in turn, makes it harder for these businesses to meaningfully participate in the digital economy and limits inclusive growth.

Read Also: Mastercard and Kalabash54 launch innovative travel card in Nigeria and Ghana

KaiOS Technologies and Mastercard are collaborating to help millions of SMEs globally accept digital payments using KaiOS devices.

Even the smallest businesses will be able to use their low-cost devices to accept payments safely and easily via Mastercard QR, Mobile Point-of-Sale solutions and Tap & Go contactless payments technology.

Signing up is simple. Business owners can use their KaiOS-powered phone to enroll. After entering their registered credentials and authenticating via a one-time password, SMEs can then access and use a variety of digital payment options.

“Acceptance fuels a successful digital economy, so it’s critical that we meet people where they are today and move them forward together,” said Jorn Lambert, chief product officer at Mastercard.

“Whether it’s a micro-merchant in Cote d’Ivoire to an enterprise in Indonesia, our goal is to make it as easy for merchants to accept digital payments as it is for consumers to make them.

“We’re looking forward to working closely with KaiOS Technologies to bring the best of our technology, scale, and expertise together to drive growth for emerging markets around the world.”

“At KaiOS Technologies, our mission is to connect underserved communities with the digital world.

“By bringing Mastercard’s secure payment technology to affordable internet phones running KaiOS, we’re unlocking new opportunities for small businesses and entrepreneurs, allowing them to participate in modern commerce more fully.

“This innovation brings down the barriers and enables an affordable consumer device to become a powerful business tool,” said Sebastien Codeville, chief executive officer of KaiOS Technologies.

This announcement strengthens the alliance between Mastercard and KaiOS Technologies as the operating system continues to grow.

Today, KaiOS Technologies works with major carriers, mobile network operators, and mobile phone manufacturers in emerging regions, with plans to expand to include acquiring banks, payment facilitators, fintechs and more.

Previously, KaiOS Technologies joined Mastercard’s award-winning startup engagement program, Start Path, to embed a range of payment solutions to foster digital inclusion.

As part of this extended collaboration, Mastercard and KaiOS Technologies will focus on African markets first, collaborating with partners like Touch and Pay Technologies (TAP) and Wizzit to extend access to in-market merchants.

Hear from our partners:

“At TAP, we are always looking for innovative solutions that enhance the accessibility and convenience of financial services for underserved populations.

“Our partnership with KaiOS and Mastercard is a game-changer for our existing and new customers, particularly in emerging markets,” said Olamide Afolabi, chief executive officer of TAP.

“By integrating KaiOS into our platform, we’re enabling millions of users with feature phones to access seamless digital payment solutions and financial services that were previously out of reach.

“This partnership is a vital step in furthering our mission to drive financial inclusion and empower communities through technology.”

Read Also: Meet 2024 winners of Mastercard Women SME Leaders Awards

“Wizzit is excited to join forces with KaiOS and Mastercard to expand secure payment acceptance solutions across Africa and beyond,” said Dirk Bruynse, chief operating officer of Wizzit.

“This partnership will enable us to scale our switching capabilities and deliver innovative payment solutions that cater to the evolving needs of businesses of all sizes.

“We are confident that this collaboration will set new benchmarks for efficiency and drive greater financial inclusion.”


Kindly share this post
Continue Reading

Telecom

Japa: Over 2,500 Telecom Professionals left Nigeria in 2022 – NCC

Published

on

Kindly share this post

Nigerian Communications Commission (NCC), has decried the alarming rate of talent migration from Nigeria’s telecommunications sector and called for immediate action to prevent further loss of skilled professionals.

Japa: Over 2,500 Telecom Professionals left Nigeria in 2022 – NCC

The NCC disclosed that over 500 software engineers and more than 2,000 trained telecom professionals fled the country in 2022 alone, posing a significant threat to the industry’s future.

Aminu Maida, executive vice chairman/CEO, NCC, who sated this while speaking at the fifth edition of the Telecom Sector Sustainability Forum, TSSF 5.0, themed “Mitigating the Effects of Talent Exodus and its Impact on the Growth of Nigeria’s Telecommunications Industry,” urged telecom companies to adopt flexible work policies, improve remuneration packages, and foster a culture of innovation.

Maida stressed the importance of creating an environment that values and nurtures talent, saying it is crucial to retaining skilled professionals and ensuring the sector’s continued growth.

Represented by Tunji Jimoh, Lagos zonal controller, NCC, Maida warned that the global demand for tech talent has driven many of Nigeria’s brightest minds to seek more lucrative opportunities abroad.

This trend, if left unchecked, could create a skills gap that threatens the sustainability of the nation’s telecom sector.

Maida, referencing a report by the Association of Telecoms Companies of Nigeria (ATCON), highlighted the exodus of telecom professionals as a major setback, adding that the loss of such talent directly impacts innovation and development in the industry.

To address this challenge, he called on telecom companies to offer more attractive working conditions.

“Remote work options, continuous learning opportunities, and collaborative spaces that encourage creativity will make the local telecom sector more appealing to professionals who might otherwise seek opportunities abroad,” he said.

He further urged telecom companies to partner with educational institutions to create programs tailored to industry needs, stressing that the partnership would help address the talent gap and build a pipeline of young professionals eager to contribute to the telecom sector.

He also underscored NCC’s role in mitigating talent migration through initiatives aimed at promoting indigenous content and improving the infrastructure necessary for digital growth.

“The Commission is actively participating in the 3 Million Technical Talent, 3MTT, a programme initiated by the Ministry of Communications, Innovation, and Digital Economy, which aims to train three million Nigerians in digital and technical skills by 2027,” he said.

 

 

 


Kindly share this post
Continue Reading

Trending