Uncategorized
Nigerian Businesses Have Improved Gender Equality but More Efforts Needed, Says Report
Nigerian companies scored better than global averages for some aspects of women’s participation in the workforce, but will need to further step up efforts to bridge the gaps that remain between women and men in the private sector, according to an IFC study conducted in partnership with Nigerian Exchange Limited (NGX).
The study, Gender Equality in Nigeria’s Private Sector, assessed gender gaps at 30 leading companies listed on NGX using the Equileap Scorecard, a methodology that evaluates gaps across four categories – corporate leadership, compensation and flexible work, corporate policies to promote gender equality, and efforts on commitment, transparency, and accountability in closing gender gaps.
Overall, Nigerian companies scored an average of 32 percent across 19 gender equality metrics for the four categories, two percentage points behind the global average in Equileap’s dataset reported in 2020.
While companies assessed scored better than the global average on women’s participation as leaders on boards and compared favorably with global averages on women in senior management, work needs to be done to achieve gender balance—between 40 and 60 percent of each gender—across the four categories.
To help improve gender balance in the private sector, the report recommends improving gender equality in formal employment, access to finance for women who want to start a business, and access to markets through supply chains and procurement opportunities.
“NGX has gender equality embedded at the core of its working practices and has made giant strides in galvanizing capital market stakeholders to institutionalize gender equality within their operations.
“The Nigeria2Equal program comes as a strategic initiative designed to support the private sector in increasing women’s participation in employment and entrepreneurship through favorable workforce policies and practices and we are resolute in our commitment to participate in the program going forward,” said Temi Popoola, Chief Executive Officer, Nigerian Exchange Limited (NGX).
The report is part of the Nigeria2Equal initiative launched in 2020 by IFC in partnership with Nigerian Exchange (NGX). The program, which runs until 2023, aims to reduce gender gaps in the private sector through research and case studies, a 15-company peer learning platform, and provide firm-level advisory support to companies to implement gender action plans.
The program will support the private sector in Nigeria to increase women’s participation as leaders, employees, customers, and entrepreneurs by promoting favorable workforce policies and practices, development of products and services that target the women’s market segment, and deliberate measures that empower women’s participation in corporate procurement.
“Through the Nigeria2Equal initiative, we are working with CEOs of private sector companies listed on the Exchange who are committed to implementing gender-smart solutions to improve their performance in gender across leadership, employment and entrepreneurship.
“By conducting market research and publishing studies, such as this report, we are providing strong evidence on the important role women play in the country’s private sector, helping companies to identify gaps and constraints, and ultimately invest in reducing those gaps,” said Kalim M. Shah, IFC’s Senior Country Manager for Nigeria.
IFC also unveiled a peer learning platform today to accelerate efforts to bridge the gaps between women and men. The participating companies, which represent diverse business sectors such as banking and finance, construction, FMCG, food manufacturing, hospitality, insurance, logistics, oil & gas, ride hailing and telecommunications, include MTN Nigeria, Access Bank, Sterling Bank, EcoBank, AIICO Insurance, Ardova Plc, Flour Mills of Nigeria, Lafarge Africa, Moove Africa, StanbicIBTC Bank, Airtel Nigeria, UAC of Nigeria, Cadbury Nigeria, Red Star Express, Transcorp Hotels, and Union Bank.
The 15 Nigerian companies will make at least three commitments to reduce gender gaps in their operations. For example, they may commit to boost the number of women in leadership or implement strategies to bring more women into corporate supply chains.
Uncategorized
Ina Alogwu Joins 9mobile as Chief Digital and Innovation Officer
9mobile has appointed Ina Alogwu as its new Chief Digital and Innovation Officer (CDIO), marking another significant step in the company’s business transformation agenda.
In his new role, Alogwu will be responsible for guiding the development and execution of 9mobile’s long-term strategy across the entire digital and technology ecosystem, including new technologies, digital platforms, and business models while nurturing a culture of innovation within the organization.
His appointment demonstrates 9mobile’s firm commitment to driving digital transformation and enhancing its innovative capabilities to better serve customers and stay ahead of market trends.
Alogwu is a visionary leader and seasoned strategist with nearly two decades of transformative experience in digital commerce, mobile payments, and technology ecosystems, making him an invaluable addition to 9mobile’s leadership team.
He has a proven ability to identify emerging trends and harness them to develop and execute groundbreaking digital products and strategies. His expertise spans product innovation, data strategy implementation, and agile business transformations, all of which have delivered significant and sustainable results across diverse industries and regions.
He joins 9mobile from ARM Holding Company, Nigeria, where he was the Group Director, Digital Transformation and spearheaded innovation initiatives, implemented a robust data strategy, and managed venture-building programmes that supported numerous African tech startups.
His very distinguished and diverse professional journey also includes an impactful tenure at Interswitch Limited, where he held roles such as Group Head, Verve Digital, and Group Head, Payment Processing. In these roles, he led the creation of groundbreaking payment platforms and digital solutions across West and East Africa.
Earlier in his career, Alogwu held roles at the Economic and Financial Crimes Commission (EFCC) as a Training Specialist and worked at Integrated Business Strategies as a Business Analyst.
Speaking about the appointment, 9mobile CEO Obafemi Banigbe expressed confidence in Alogwu’s ability to lead the company’s innovation efforts, saying, “Alogwu’s broad professional background makes him the perfect fit for our innovative and business transformation journey as he joins a team of recently appointed senior business leaders to drive this process and the next phase of our growth.
“His role is crucial for navigating today’s fast-paced digital environment. And he has been entrusted to lead the charge in harnessing new technologies, driving digital transformation, and ensuring the company remains adaptable to change, which is integral to fostering innovation and positioning 9mobile as a forward-thinking leader in its industry.”
The New CDIO said, “I’m delighted to join 9mobile and collaborate with the CEO and the leadership team on the innovative initiatives already in progress.
As we navigate the rapidly evolving digital landscape, I’m eager to leverage my expertise in digital strategy, technology, and innovation to drive 9mobile’s mission to deliver exceptional customer experiences and achieve our strategic objectives.”
Alogwu’s academic credentials further underline his readiness for this role. He holds an Executive Master’s in Digital Transformation and Innovation Leadership from IE Business School, Madrid, and a Postgraduate Diploma in Digital Business from Emeritus Institute, in collaboration with MIT and Columbia Business School.
He also completed the Senior Management Program at Lagos Business School, Pan-Atlantic University, and earned a BSc. in Geology & Mining from the University of Jos, Nigeria.
His education is further enriched by certifications in Product Management, Lean Six Sigma, and Strategic Innovation, equipping him with a robust foundation to drive innovation, lead digital transformation, and achieve business excellence in competitive landscapes.
His ability to combine academic knowledge with practical expertise has positioned him as a trailblazer in the digital commerce and technology sectors.
Beyond his technical expertise, Alogwu is adept at cultivating and managing strategic relationships with global multilateral organizations and financial institutions, leveraging these partnerships to unlock profitable opportunities. He has consistently demonstrated excellence in leading multicultural teams and navigating complex, multi-stakeholder environments to deliver transformative outcomes.
Uncategorized
NAICOM Signs Agreement with NDPC on Data Protection in Insurance Sector
The National Insurance Commission (NAICOM), has signed agreement with the Nigerian Data Protection Commission (NDPC) with the aim of enhancing data protection within the insurance sector.
According to NAICOM, the Memorandum of Understanding (MoU) has as its objectives training and capacity building in the area of providing training to enhance awareness and skills in data protection, establishing privacy clinics by setting up specialised clinics to address data protection concerns and provide guidance.
NAICOM said other objectives of the agreement include conducting compliance activities, regularly monitoring and enforcing compliance with data protection regulations, promoting awareness in the area of educating insurance companies on the importance of data protection and the benefits of adhering to best practices.
Developing data protection guidelines through creation of specialized guidelines for insurance institutions to ensure they are equipped to handle data protection responsibilities effectively.
NAICOM said the collaboration marked a significant milestone in safeguarding the personal data of insurance policyholders and promoting trust in the insurance sector.
The commission said to ensure the effective implementation of the agreement, an implementation committee would be established. The committee, the commission said, would comprise of representatives from the two agencies, as well as other key industry associations, including the Nigerian Insurers Association (NIA) and the Nigerian Council of Registered Insurance Brokers (NCRIB).
Uncategorized
5 Benefits of MTN Mobile Ads for your Business
Businesses worldwide are increasingly embracing mobile advertising services, allowing them to connect with potential customers directly on their smartphones and engage with them more effectively.
This trend is rapidly gaining momentum, and companies in Nigeria are also taking part in this shift.
Every day, more Nigerian businesses are seeking the most efficient strategies to reach their target audiences and convert them into loyal customers.
MTN Nigeria is redefining digital advertisement with MTN Mobile Ads. With a rich customer base of 79.5 million subscribers in Nigeria, MTN Mobile Ads continues to help businesses reach millions of customers nationwide.
Here are five reasons you should use MTN Mobile Ads for your business advertisements:
Targeted marketing
MTN Mobile Ads uses first party data to enable specific targeting of audience based on behaviour, interests and demographic. This ensures that your marketing efforts are directed toward the most relevant audiences, thereby increasing engagement and conversion.
Data-Driven Insights:
Businesses can gain valuable insights from their advertising campaigns, allowing them to fine-tune their strategies for maximum impact. This data-driven approach helps in optimizing campaigns based on real user behaviour and preferences
Diverse advertising formats
This service supports several advertising formats including targeted SMS, marketplace listing on the MyMTN app, display banners, and Rich messaging services (RCS) across both mobile and web platforms. This versatility allows your business to customize your marketing strategy to suit different audience preferences and increase engagement opportunities.
Data-free solutions
MTN Mobile Advertising provides data-free solutions. That means users can view your Ads with or without data. This feature significantly increases engagement rate as it allows your business connect with customers who may have been avoiding ads to save their data.
Cost-effective
With MTN Mobile Ads, you can choose an advertising plan that suits your budget. This flexibility allows businesses to enjoy the benefits of advertising without overspending.
As competition in businesses increase, the need to make advertising a crucial part of your marketing strategy cannot be over-emphasized.
MTN’s Mobile advertising services are the most result-oriented strategy your business should engage in so you can have the same opportunities your competitors may have.
- E-Financial2 days ago
UBA Group Sets Foot in France with Full Banking Services
- News3 days ago
TCN Reveals N8.8 Billion Expenditure on Restoring Destroyed Transmission Towers
- Telecom3 days ago
Google, Meta Criticize Australia’s Rush to Pass Social Media Ban for Under-16s
- Broadcasting2 days ago
TETFund Suspends Foreign Scholarships Due to Rising Costs and Abscondment
- News2 days ago
Stanbic IBTC Asset Management Unveils Anti-scam Measures to Protect Mutual Fund Holders
- E-Financial2 days ago
MoneyMaster Promotes Financial Inclusion, Offers more Bonus to Customers
- E-Financial3 days ago
PenCom, PenOp to Integrate Uncovered Workers into Micro Pension Plan
- Uncategorized2 days ago
NAICOM Signs Agreement with NDPC on Data Protection in Insurance Sector