General News
Microsoft Delivers Best Cloud Connected Services – Makwane
Kabelo Makwane, country manager, Microsoft Nigeria, holds BComm certificate from the University of KwaZulu-Natal, and MBA from the University of the Witwatersrand.
Prior to his present role as country manager, Makwane served as public sector director in the Microsoft South Africa subsidiary.
He had worked as the regional sales manager, Cisco Systems; portfolio sales executive, Unisys; product manager/account manager, Datacentrix and software and media product manager, Storgate Africa.
Makwane in this interview with peter ugwu, said it was a time when Microsoft can achieve real economic impact in the country based on its focus on unlocking the economic opportunities of Africa.
Microsoft’s Contribution to the Paradigm Shift in Operations of Organizations
In a mobile-first, cloud-first world, Microsoft is committed to delivering the best cloud connected services on every device.
For more than two decades, Microsoft Office has been the chosen productivity tool for consumers and businesses alike.
Our innovation in mobile and cloud scenarios ensure that Office will be the productivity service of choice for many years to come, alternatives don’t compare.
Microsoft’s Strategy
Our strategy is one that says: We want to be the do more Company that enables people to be more; which essentially means enabling high value activities irrespective of the sector, or whether people are at home, on the move or at work.
I can say that our niche is in human capacity or skills development, retail or services, because we are servicing the spectrum of the entire market.
Sectors like the public, private, consumer or enterprise, have our backing; our broad portfolio of products allows us to do that with comprehensive solution offerings in the experiences we can enable through our proportions.
BYOD Era and Helping CIOS Make It Happen
Microsoft helps enterprises address BYOD, so employees can use the devices and services they love and IT can protect company data.
Our approach is more than mobile device management. It starts with employee identity, trust, security and includes devices, apps and cloud services.
While Bring Your Own Device (BYOD) can bring potential benefits to organizations, and it also creates specific challenges, particularly regarding device management, the segregation of data and security.
There must be a balance of establishing clear policies and the right services: Companies in Nigeria need to put the proper device management systems and infrastructure in place to ensure that their company is not put at risk and at the same time benefit from a more engaged and motivated workforce by making devices and company services conveniently available.
Further, policies need to be implemented to ensure workers are using devices and services that will best enable them to do their jobs effectively.
How Has Microsoft Contributed to Skills Development in Africa
This is one of biggest focal areas, because it is typically the biggest challenge we see in unleashing and realizing the potential of the Nigerian and Africa’s ecosystem.
Broadening the skills pool is something very core to our strategy for Africa. One of the key pillars of our investing in Africa is creating 21st Century skills and those that are exportable, at par with any other skills globally.
What are we doing right now? We have launched an internship program; we have 17 interns in our Lagos office on a twelve month program.
We are planning to expand the program. These interns may not all end up only employed by Microsoft. We will make them available once they sort of on top of their program.
They will be available to our channel partners or customer who wants to employ them, because they would have become highly skilled.
We are partnering broadly with over 2000 partners in identifying strategies in which we can drive partner enablement to broaden the skills pool.
We will continue to build capacity for these partners to continue to deliver to clientele throughout the Nigerian market.
The other thing we look at is how do we tap into the academic institutions and partner with them. For example in Anambra State, we are setting up ICT Academics together with the Academic Institutions in conjunction with Anambra state.
These are ongoing projects. Essentially, we are looking at ways in which we can expand these projects to reach more youth.
In looking to reach as many people as possible the downstream economic impact could become more evident.
Various Programmes under 4afrika Initiative and their Impact
Microsoft and its partners work closely with organizations and people across Africa to fully harness the power of innovation to meet the needs of our countries and communities.
Through flexible solutions, programs and partnerships and a business model that puts people first.Our objective isn’t innovation for innovation sake, but innovation that make real impact for a better Africa.
A year after the launch of this initiative, in terms of collective African impact, we have not only laid much of the groundwork for what we will do in 2014 and beyond, but we have also successfully rolled out four White Spaces projects to provide low-cost, solar powered broadband to communities in Ghana, Kenya, Tanzania and South Africa, not just that, we have signed cooperation agreements with four innovation hubs in Africa, including CcHUB in Nigeria, DTBi in Tanzania, iHub& m:lab in Kenya, and AfriLabs, the pan-African hub network. CcHUB is Nigeria’s first innovation lab and pre-incubation space designed to catalyze creative social technology ventures.
Also, we kicked off the 4Afrika Scholarship Program providing 1,000 scholarships to young African students through our partnerships with the University of the People (online university) and Regenesys Business School (South Africa).
Microsoft further introduced the 4Afrika Advisory Council to ensure the 4Afrika initiative does in fact help Africa become and remain globally competitive for the benefit of Africa’s people.
We also announced additional four youth members to address issues facing youth in Africa, one of which is from Nigeria (Chude Jideonwo).
Today, we have provided innovation grants (seed funding via Microsoft Ventures as well as technical support and mentorship via 4Afrika) for five African startups including access.mobile LLC, Africa 118, Gamsole, Kytabu and Save & Buy, two of which are Nigerian (Gamsole and Save &Buy) .
Through the 4Afrika Interns, we have engaged over 17 interns from Nigeria to work with the Microsoft setup locally. With the aim to give them exposure to world class skills and the opportunity to better equip themselves.
The Initiatives Will Spark Intellectual Property Developments, But The Issues Of Rights And Protection, How Is Microsoft Faring In This Regard?
As a corporate entity we are working with regulatory institutions locally to provide an enabling environment for innovations and protection of their rights on their inventions, we’ve also embarked on some awareness creation campaigns through our “Play It Safe” Campaign to further drive home our message of the need to protect the rights of Intellectual Property.
Nigeria’s Rebased Economy
Perhaps, the most imposing revelations emerging from the rebasing result is the fact that the structure of the Nigerian economy is changing.
The economy is now shown to be driven largely by the services sector, which accounts for 53 percent of the GDP (vs. 29% pre-rebasing).
For the ICT Industry we see a situation where Cloud adoption in Nigeria is expected to grow from 36% to 80% by end of 2014 and with a purported $50 B foreign investment into the ICT sector from International organizations, we would continue to see the IT industry in Nigeria soar in the months.
Nigerians in the diaspora have petitioned Dr. Olubunmi Tunji-Ojo, minster of Interior, over passport printing in Atlanta and New York Consulates in the United States of America.
To this effect, the minister has approved and directed the Nigeria Immigration Service (NIS) to immediately deploy new printers to the passport offices in both cities.
These printers, according to him, are ready for installation. This short-term solution, he said, aims to resolve the current challenge promptly.
In a statement, the minister said that there is a new solution being implemented as a long-term plan that will usher in a streamlined passport regime, enabling Nigerians to apply for their passports with more ease.
Part of this plan includes the activation of a Passport Personalisation Centre in Abuja, which is scheduled to start in the next few weeks while also opening up more countries for the already-deployed contactless solution.
According to Tunji-Ojo, they are working round the clock, and none of the agencies is left behind.
“At the Nigeria Immigration Service, there has been an end-to-end automation of the passport application process and the introduction of the contactless application process, which has since been launched in Canada,” he said.
The Central Bank of Nigeria (CBN) said it has approved the release of the Nigerian Foreign Exchange (FX) Code and will officially launch the same on January 28, 2025.
The FX code serves as a guideline to the banking industry to promote ethical conduct of authorised dealers in the Nigerian Foreign Exchange Market (NFEM).
“The Bank will formally launch the Code at the CBN Head Office Auditorium, Abuja, on Tuesday, January 28, 2025,” the CBN said in a notice published on its website.
In a bid to strengthen the governance and transparency of Nigeria’s FX market, the CBN in November 2024 introduced revised guidelines for the Nigeria Foreign Exchange Market (NFEM).
A key feature of these guidelines requires the boards of banks, alongside their Chief Executive Officers (CEOs) and Chief Compliance Officers, to annually attest to the Nigeria FX Code of Ethics and Conduct. This attestation underscores their commitment to uphold market integrity and comply with all CBN-issued circulars and guidelines.
The revised guidelines aim to deepen the foreign exchange market following the consolidation of all official FX market windows. The circular, issued by Omolara Omotunde Duke, director of the CBN’s financial markets department, supersedes prior directives, including the operational changes announced on June 14, 2023, and earlier circulars dating back to 2017.
Under the new framework, authorised dealers must facilitate FX transactions for firms and individuals while ensuring compliance with regulations. These dealers are tasked with conducting due diligence, providing transparent pricing, and offering market access through digital solutions.
Furthermore, all legitimate FX transactions must occur exclusively through authorised dealers, while dealings with unlicensed intermediaries are strictly prohibited.
Bureaux de Change (BDC) operators are also included in the revised guidelines. Licensed BDCs are allowed to purchase FX from authorised dealers to meet customer needs, within the limits set by the CBN. Similarly, all FX transactions conducted by BDCs, International Money Transfer Operators (IMTOs), and authorised dealers must adhere to the terms of their licenses and the Nigeria FX Code.
Moniepoint Inc, one of Nigeria’s leading business payments and banking services platforms, has secured an investment from Visa, a global leader in digital payments.
The investment marks an important milestone in Visa’s commitment to advancing financial inclusion and shaping the future of digital payments while fostering SME growth across Africa.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly known as TeamApt) has established itself as a leading financial platform for Nigeria’s vast network of small and medium-sized businesses (SMEs), offering an integrated suite of services, including digital payments, bank accounts, credit, foreign exchange (FX), and management tools.
The platform processes over 1 billion transactions monthly, with total payments volume exceeding $22 billion, enabling businesses to digitize their operations and thrive in Africa’s rapidly evolving economy.
With this investment, Visa supports Moniepoint’s mission to empower African businesses, further accelerating its growth and expansion across the continent. Moniepoint’s profitable and scalable business model, alongside its strong operational and financial track record, has positioned it as a transformative force in the African fintech ecosystem.
As Africa’s Fintech landscape continues to evolve rapidly, driven by a dynamic ecosystem and a focus on bridging the financial inclusion gap, Visa has been at the forefront of this transformation, putting its expertise and resources to work in support of the growth of African Fintech startups.
Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said: “We are thrilled to announce Visa’s investment in Moniepoint. Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale.
“Together, we aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy. Given that about 83% of employment across Africa is in the informal economy, we are very keen to widen access and participation in the formal financial system and drive economic growth across Africa.”
He continued, “Visa’s expertise in global payments and Moniepoint’s proven ability to serve African businesses make this partnership an exciting opportunity in shaping the continent’s economic future even as we pave the way for a more inclusive and dynamic financial ecosystem.
“We are delighted in joining forces with Visa to enhance the digital payment infrastructure, expanding financial services, and fostering innovation in Africa.”
Andrew Torre, Regional President, Central and Eastern Europe, Middle East and Africa at Visa, added: “Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development.
“By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond. We are excited to support their next phase of growth and innovation.”
“Visa’s investment in Moniepoint is the latest example of our long-standing commitment to advancing digital economies in Africa. We will enable even the smallest businesses to thrive through innovative payment and software solutions that allow SMEs to scale and open new revenue opportunities, while streamlining their operations.”
Moniepoint has experienced exponential growth since its founding in 2015, with revenues increasing by over 150% CAGR in recent years. The company’s efforts to expand access to financial services align closely with Visa’s mission of enabling individuals and businesses to thrive in the global economy.
Congratulating both parties, the Nigerian Investment Promotion Commission (NIPC) celebrates this strategic investment in Moniepoint, highlighting it as proof of Nigeria’s attractiveness for investors due to its favorable business climate.
Furthermore, the NIPC praised Moniepoint as an exemplar of Nigerian excellence contributing significant value to the global financial ecosystem. The Commission emphasized its commitment to supporting investors and fostering economic cooperation in finance and technology to help Nigeria reach its full economic potential.
This partnership combines Moniepoint’s local expertise and innovative business model with Visa’s global resources and capabilities. Together, Moniepoint and Visa aim to accelerate the digital transformation of African SMEs, driving financial inclusion and long-term economic prosperity.
Visa joins other notable investors including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, Novastar Ventures, British International Investment (BII), FMO (the Dutch entrepreneurial development bank), Global Ventures and Endeavor Catalyst in advancing Moniepoint’s mission to create a society where everyone experiences financial happiness.
FG Says 50 Percent Telecom Tariff Hike is Only a Start
NIMC, NIBSS, Others Roll out Digital Cards with Multiple Wallets
NANS Threatens Nationwide Protests over 50 Percent Telecom Tariff Hike
FG Deploy New Printers for Passports following Outcries from Nigerians in Diaspora
Mobile App Usage to Drop By 25 Percent on AI Assistants- Study
CBN, SEC Approve FCMB Group’s N147bn Rights Offer
A beginner’s guide to Temu: Your ultimate shopping companion
Corporate Blackmail, My Story as a Case Study, by Leo Stan Ekeh, Chairman Zinox Group
Starlink to Hike Internet Tariff in Nigeria from January
CBN did not Force 1000 Workers to Resign- Cardoso
Telecom1 day agoNLC Announces Nationwide Boycott over Telecom Hike
Telecom1 day agoSamsung Galaxy S25 Series: Redefining Smartphones with Advanced AI Integration
Telecom1 day agoMTN’s New Year Campaign: Inspiring Change, One Move at a Time
Telecom1 day agoFG, WIOCC Sign $10M MoU to Connect 3 million Homes with Broadband Fibre Connectivity
Telecom1 day agoAll the Android updates coming to the Samsung Galaxy S25 series and more
General News1 day agoCBN’s FX Code to Boost Transparency for Launch on January 28
Telecom1 day agoMainOne Boosts Connectivity for West African Businesses with Equiano Cable
News1 day agoSocial Impact Champions Call for Business Investment in African Women and Girls