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Economic Comm for Africa Urges Leveraging Tech in Trade

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The Economic Commission for Africa is calling upon countries across the continent to leverage technology in improving trade and enhancing competitiveness.

The plea was made last week at the African Union Summit on industrialisation and economic diversification by African Continental Free Trade Area (AfCFTA), Economic Commission for Africa, acting executive secretary Antonio Pedro.

Pedro said digitalisation is a promising vehicle to sustainable industrialisation, and countries should take action to promote trade and exports in order to realise the objectives of the AfCFTA.

“The major objective of AfCFTA is to foster competitiveness at the industry and enterprise levels through opportunities for scale production, improved market access and efficiency in resource allocation,” he said.

On how technology can enhance trade, Pedro cited the launch of the Africa Trade Exchange (ATEX) platform, a business-to-business and business-to-government digital trade platform that facilitates intra-African trade within the context of the AfCFTA as a positive move in the digital era.

“The ATEX is a clear demonstration of how regional trade can help channel critical commodities where it is needed most in Africa.”

He noted the Economic Commission for Africa is gathering and analysing data on the regulatory regime governing digital trade in Africa.

Also, speaking at the summit, Treasure Maphanga, chief operating officer of the AeTrade Group, and former trade and industrialisation director at the African Union Commission, said digitisation has a catalytic effect through the growth of services, especially in logistics, finance and insurance.

“Leveraging the technology and other aspects of the digital economy to create jobs is the way forward…and informal business does not have to be disadvantaged.”

In addition, African countries were urged to leverage new opportunities from the agreed package of resolutions at the recent UN climate change conference (COP27) in Egypt.

According to Pedro, the package includes financial, technological and capacity-building assistance that developing nations need to reduce their emissions of greenhouse gasses and adapt to the inevitable effects of climate change.

“Contributions of more than $230 million were made to the Adaptation Fund, which African countries should consider to access financing for structural transformation of their economies,” he said.

Pedro said a preliminary assessment of the voluntary carbon market led by Dalberg and Economic Commission for Africa, based on partial satellite data, indicated carbon credits can generate up to $82 billion at $120 per ton of CO2 equivalent using nature-based sequestration.

He explained that despite the current low prices for carbon credits in Africa, “the need for accelerated action on climate change and the implementation of Article 6 of the Paris agreement will drive prices up, to the benefit of African countries to monetise their natural capital”.


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SmartCash Named MSME Payment Service Bank of the Year

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SmartCash Payment Service Bank, a subsidiary of Airtel Nigeria, has been honored as the MSME Payment Service Bank of the Year at the prestigious inaugural Nairametrics-The Economic Forum MSME Awards, held at the weekend at the Civic Centre, Lagos.

The award ceremony, organized by Nairametrics, Nigeria’s leading financial news and analysis platform, in conjunction with The Economic Forum, recognized financial services organisations for innovation, impact and the commitment to empowering Micro, Small, and Medium Scale Enterprises (MSMEs) through access to finance in Nigeria.

Commenting on the award, Chief Executive Officer, Smartcash PSB, Tunde kuponiyi, said the award is a motivation to continuously empower small business with access to innovative and secure financial access.

“We are honoured to be recognized as the MSME Payment Bank of the Year. This award reflects our unwavering commitment to empowering small businesses across Nigeria by providing innovative, accessible, and secure financial solutions.

“MSMEs are the backbone of our economy, and we believe that by improving their access to digital financial services, we are not only helping them grow but also driving broader economic development. This recognition motivates us to continue in our mission of creating financial inclusion for Nigerian business owners.”

Jude Ndu, CEO of The Economic Forum, lauded SmartCash for its continual improvement and support of the financial sector, stating, “We believe today marks a significant step in empowering MSMEs to overcome the financial inclusion challenges in Nigeria.”

Also speaking at the event, Founder, Nairametrics, Ugo Obichukwu, said, “As a media organization, this is our way of contributing to the growth of MSMEs, which are a critical driver and backbone of the Nigerian economy.

“They Contribute 50% of our GDP and over 80% of our workforce, operating with a spirit of resilience that propels Nigeria forward. The award seeks to recognize and reward innovation and impact, and also inspire and motivate others to support MSMEs.”

The event was attended by prominent guests in the financial sector, including, Senior Special Assistant to the President on MSMEs and Job Creation, Temitola Adekunle-Johnson; Executive Director, Zenith Bank, Anthony Akindele Ogunranti; Vice President, Customer Solutions Center, East & West Africa, Mastercard; Kari Tukur, Executive Director, Zenith Bank; Anthony Akindele Ogunranti, Head of Retail Banking at Polaris Bank; Taye Mosaku, among other financial leaders.


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MTN Launches “See Naija” to Showcase Nigeria’s Rich Cultural Heritage

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MTN Nigeria, a leading telecommunications company in Africa, has set an adventurous mission of changing the perceptions and narratives surrounding Nigerians and Nigeria through a thoughtfully curated, culturally sensational, and socio-economically intentional platform and campaign called “See Naija.”

“See Naija” aims to harness the rich diversity, culture, resilience, uniqueness, and “can-do-it” spirit of Nigerians worldwide through an individual lens while also positioning Nigeria as a viable tourism hub among the community of nations.

According to available data, Nigeria’s tourism sector could be losing between $5 billion to $10 billion annually, while the contribution of tourism to GDP is only around 1.2% to 1.5%, compared to 7-10% in other African nations. Furthermore, a significant drop in international arrivals and the potential to create over 2 million jobs remain unfulfilled. Experts estimate that investments of $1 billion to $3 billion are needed to improve travel conditions.

Speaking about the idea that birthed the “See Naija” campaign and platform, Emamoke O, the General Manager of Brand & Communication at MTN Nigeria, noted that although there are many positive things Nigerians are known for, most of the information available on the internet is largely negative, thereby setting the tone for wrong perceptions about what Nigeria and Nigerians represent.

“The essence of ‘See Naija’ today is to erase all the negativity Nigeria is known for as a country. We are our brand; every Nigerian is unique. When you travel anywhere, you can spot a Nigerian easily, by the way we talk, dress, and express ourselves,” she explained.

“This platform will showcase to the world, not only to Nigerians, what we are made of: our food, our fashion sense. Even as a Nigerian, there are so many waterfalls I have never been to. We want Nigeria to be a place people search for when they want to explore tourism—where to go in Nigeria, and we want travel agencies and hotels to be part of this clarion call. At the end of the day, we aim for organized tours, with guides who can talk about Nigeria and our uniqueness.”

She recounted a personal experience: “I attended a program abroad, and we had about eight nationalities in the group. We were supposed to talk about our countries—the things that make them the best, the investment opportunities, and more. One evening, someone from Poland gave me a sneering look, likely due to the negative information about Nigeria, like corruption and so on.”

“When it was my turn to showcase Nigeria and discuss opportunities such as agriculture and oil, which is our economic stronghold, he asked where I lived. I replied I lived in Lagos, the commercial hub of Nigeria.

“He pressed further and asked me to show him Lagos on Google. Of course, I typed ‘Lagos,’ and you can guess what popped up: Oshodi, with dustbins and yellow buses—almost everything negative.”

“This was highly embarrassing to me and all the other people from Saudi Arabia and other countries who were staring at me. However, there was someone else who could relate to the better sides of Nigeria as a beautiful place. Immediately I got back home, I told my team we needed to put a program together to show what Nigeria is really about to the world because I had a very awkward experience.”

“I realized that typing my country into Google yields too much negativity. I know there are algorithms, but by flooding the internet with our good things—our resilience, our outspoken nature, and many positive attributes that distinguish us—we can change this narrative.”

Ayham Moussa, the Chief Operating Officer at MTN Nigeria, noted that MTN is leveraging its trailblazing, path-finding, and audacious approach in Africa to celebrate the “World Tourism Day” and honor the Nigerian fighting spirit, winning spirit, and progressive spirit.

“Today, the whole world celebrates tourism, and at MTN Nigeria, we cannot let that pass without recognition. We are known for making noise, for making progress, and tourism allows people to see the beauty and culture in places,” he said.

While reminiscing about his heartwarming experience joining MTN Nigeria, he stated, “When I joined MTN Nigeria a few weeks ago, the first thing I noticed was the warm welcome and acceptance. I see Nigerians as fighters, winners, and people willing to do everything it takes to progress. We at MTN Nigeria stand for Africa, but Africa is Nigeria. We stand for progress and for showcasing the amazing things about Nigeria. I am excited about what the team has put together today; they have done a lot to promote and make people ‘See Naija.’”

“See Naija” also registered a colorful display of Nigeria’s top-notch cultural elegance and artistic brilliance, offering Nigerians the opportunity to showcase beautiful and notable places in Nigeria.

Speaking, Ololade Odukoya, MTN Nigeria’s Digital Marketing Manager, said the “See Naija” campaign and platform provides opportunities for Nigerians to upload 2-minute videos on their social media handles and on [www.mtnng/see-naija](http://www.mtnng/see-naija).

“Now that you have seen Naija—the culture and the beauty in our diversity—we are calling on everyone to come together and join us in this narrative to change the story positively. There is the ‘See Naija’ challenge today, and we all need to be part of it.

All you need to do is upload a 2-minute video on any of your social media platforms and the MTN website. Don’t forget to tag #Naija. We can’t wait to see your lovely submissions.”

In his closing remarks, Frank Okwuye, Senior Manager of Brands and Communications at MTN Nigeria, reiterated that the “See Naija” campaign and platform aim to showcase the good features of Nigeria to the world.

“We are the brand Naija, and as we go from here, let us begin to carry the message forward because this program already showed us that Nigeria is a beautiful place—a place to excel and where dreams and aspirations can be achieved. It is the beginning of a great journey; when it will end is not feasible or in sight, as it is like an onion that one would begin to peel and peel.”

“And if you listen to the poem’s rendition, you will discover the different dimensions of who we are, both as a people in terms of culture and everything we represent. ‘See Naija’ is both a campaign and a platform. It is a campaign because we are telling the true story of Naija, and we are going to showcase it to the world.”

“It is also a platform because we have created a digital space where everybody can not just ‘See Naija’ and what is good in Naija, but also bring their content there. It is a platform where you can showcase the best of Naija. In a way, we are all part of this project. So whatever you know about Naija, capture it and bring it to that platform and encourage others to do the same. As we do this, we begin to change our narratives.”

“One step at a time, one day at a time, and in years to come, we shall see people paying money to come on holiday in Naija because there is so much to Naija. This is not just MTN’s project; it’s your project and our project because we are the Naija that people see. So let’s take it upon ourselves and begin to showcase everything good about Nigeria.”


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“Shark Tank of Crypto” Reality Show Wraps Up Season 1, Secures Over $35M in Committed Investments

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CryptoKnights has completed its highly anticipated first season. This show, often referred to as the “Shark Tank of Crypto,” brings together the brightest minds in the decentralized world to evaluate and invest in the most promising crypto and blockchain-based projects.

Over 15 projects, selected from thousands of applications, successfully secured commitments totaling more than $35 million USD.

Conceptualized by visionary entrepreneur and CEO of Ritestream, Riaz Mehta, and brought to life by Ritestream’s Chief Strategist Joseph Khan, the show is set to premiere in December.

It is poised to introduce the crypto world to a mainstream audience, offering viewers an exclusive look at the unfolding future of finance.

Hosted by renowned actor/entrepreneur Adrian Grenier, known for his iconic role in Entourage, CryptoKnights features a distinguished panel of judges, including some of the most influential figures in the Web3 space: Brock Pierce (Co-founder of Tether), Kyle Chassé (Founder of Master Ventures), Aly Madhavji (Founder of Blockchain Founders Fund), Magnus Grimeland (CEO and Founder of Antler), and Nikita Sachdev (Founder of Luna Media Corp). These judges not only offer their financial investments but also provide invaluable guidance, access to their extensive networks, and long-term advisory support to help projects excel beyond the show.

While the judges deliberate in the Knights Crypt room, influencers Kim Lee and Gav Blaxberg provide commentary from the Boiler Room.

Kim Lee, a renowned DJ and Bling Empire personality, offers insights that resonate with everyday viewers, representing the non-technical audience. Gav Blaxberg, CEO at Wolf Financial, brings the Gen Z perspective, highlighting trends that appeal to younger generations.

Brock Pierce, Co-founder of Tether, said, “Over the years, I’ve been at the forefront of the blockchain revolution, witnessing firsthand how it has the power to reshape industries and redefine what’s possible. CryptoKnights is not just a show; it’s a movement—a platform where innovation meets opportunity.”

He added, “I’m looking for the next Unicorn, but they often come from the most unexpected places. I believe in this show [CryptoKnights]. We will discover the Next Big Thing, the next killer app that is going to change the world.”

Actor Adrian Grenier added, “Web3 can be complex, but it’s essential for people to understand its potential. CryptoKnights bridges that gap, making the technology accessible to everyone. As the host, I’m excited to guide viewers through this journey, demystifying Web3 and showing how it can empower everyone, not just the tech-savvy.”

Riaz Mehta, the creator of CryptoKnights and CEO of Ritestream said, “My vision for CryptoKnights is to demystify the groundbreaking technology of blockchain because I firmly believe it will change our world in unimaginable ways. At CryptoKnights, we are committed to investing in projects that offer real, tangible solutions and drive meaningful change. By providing a platform for education and engagement, CryptoKnights seeks to inspire a global audience to see the true potential of blockchain innovation, supporting projects that define the next generation of impact and create a more equitable future for all.”

The creation of CryptoKnights was made possible through Ritestream which raised $1.5 million in decentralized funding.

Negotiations are underway with major platforms for the show’s broadcast, expected to premiere in November 2024.

This first-of-its-kind show is set to offer unparalleled insights into cryptocurrency and blockchain technology, positioning itself as a must-watch for anyone interested in the digital finance revolution.


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