Telecom
NITDA to Leverage on AfCTA to Build Digital Market in the World
As Nigeria is moving fast towards diversifying its economy using technology, the National Information Technology Development Agency (NITDA), has proposed partnership with Republic of Namibia in the areas of Innovations and Entrepreneurship through African Continental Free Trade Area (AfCTA).
This is because Africa as a continent lost out during the First, Second and Third Industrial Revolutions due to the huge capital investments but with the Fourth Industrial Revolutions comes endless opportunities that all it needs is talent and vibrant, young technological driven generation.
It is therefore imperative for African countries to encourage “Made in Africa” products by exploring and exploiting opportunities provided by emerging technologies to build an enviable global market standard.
The agreement in finding a viable route for digital trade resolution was made when the High Commissioner of Namibia to Nigeria and Permanent Representative to ECOWAS, His Excellency, Mr Humphrey D Geiseh paid a courtesy visit to the Agency’s Corporate Headquarters, Abuja.
Mallam Kashifu Inuwa Abdullahi , Director General of NITDA, expressed his delight and privilege at the High Commissioner’s enthusiasm in seeking collaborations with NITDA in building a stronger relationship and developing technological products between the two countries.
Abdullahi stated that the Agency has been implementing the National IT Policy until 2019 when the Ministry’s mandate was expanded to cover Digital Economy.
He averred that this was because Communications was not an end but a means to an end.
He said it was important to calibrate activities and align them with the National Digital Economy Policy and Strategy (NDEPS) which necessitated the Agency to come up with a new Strategic Road Map and Action Plan.
The DG stated that ‘Emerging Technologies’ which is a strategic pillar in the road map should be used to create and capture technological values in Africa.
“These emerging technologies come with promises and perils and the Agency’s focus is to avoid the perils and achieve the promises”, he noted.
He disclosed that the Agency established the National Centre for Artificial Intelligence and Robotics specifically for researching best ways to apply these technologies in the Health and Agricultural sector just to mention a few.
“I will invite you to visit our Centre as well and see how you can borrow some of the ideas and domesticate it in Namibia”, Abdullahi said.
The DG mentioned that “Promoting Indigenous and Local Content, which is another strategic pillar of the Agency is aimed at supporting local start-ups and encouraging Made in Africa products.
He opined that African countries should share experiences and ideas in order to build world class product while laying emphasis that it is easier to procure products from neighbouring countries rather than other continents.
“Micro, Small and Medium Enterprises in the country provide about 95% of the workforce and produce more than 50% of the Nation’s GDP.
“It is therefore necessary to ignite processes in the digital ecosystem with the use of technology.
” Innovations don’t happen in isolation, you need to connect with what others are doing in other parts of the world and apply them domestically to create wealth for the Nation and the continent at large”, Abdullahi noted.
The DG said that Agriculture, which is one of the major sources of income in Namibia is one of the areas the Agency identified in which technology can be used as a game changer.
He stated that the National Adopted Village for Smart Agriculture, (NAVSA) which is one of the initiatives of the Agency can help Namibia boost her productivity in Agriculture.
“This is an area we can explore partnership where we can get some startups who can develop solutions for you and on our part, also learn how you manage your agricultural business.”
“NITDA has a yearly flagship programme called ‘e-Nigeria’, an international conference and exhibition programme where local start-ups are invited to showcase their products, and this year’s programme would be tagged ‘Digital Nigeria’ because of the evolution from electronic to digital system.
“We are having a one-week Digital Nigeria International Conference and we are extending the invitation to you.
“You can bring people from Namibia to the conference to have a glimpse of our ecosystem where you will meet some of our startups, share ideas, challenges and see how we can use technology to grow our economy as a continent”, Abdullahi concluded.
His Excellency, Mr Geiseh in his earlier remark said that Namibia and Nigeria are both African countries who have been long standing friends since Namibia’s independence.
He disclosed that Namibia has a population of about 2.4 million and almost one-third of her population are internet users according to statistics as of 2018.
He mentioned that the country is committed to providing necessary opportunities for the youth to be exposed to concepts and technologies that will dominate their lives in the near future.
“In Namibia, we recognise the role of the youths in the development of the country in the future prosperity of the Nation which has prompted our visit today to basically know how your agency has advanced in the areas of ICT so we can identify common challenges and proffer solutions in areas where both countries can work together”, the High Commissioner disclosed.
Telecom
Unforgettable Moments and Big Wins at the TECNO SPARK 30 City Tour
TECNO SPARK 30 city tour made a memorable stop at Ikeja City Mall on November 15th, bringing with it an infectious energy that electrified the entire city.
As the event unfolded, it was clear that this was more than just a product showcase – it was an immersive experience designed to thrill and delight.
The day’s festivities kicked off with the iconic TECNO SPARK 30 transformer bus, painted in bold red and blue hues, rolling into action.
The bus served as the hub for a games grotto, where fans immersed themselves in thrilling digital games and adventures.
Outside, the excitement spilled over, with attendees engaging in friendly competitions of Jenga, Monopoly, Ludo, and chess.
These games sparked laughter, playful banter, and a sense of camaraderie among strangers.
As the games heated up, so did the rewards. Purchasers of the TECNO SPARK 30 Pro enjoyed a N20,000 discount and a chance to win up to 100% cashback by participating in the games.
The atmosphere was electric, with cheers of victory, enthusiastic applause, and celebratory high-fives.
The excitement reached a fever pitch with the arrival of tech and lifestyle creator Kagan, accompanied by Big Brother Naija Season 9 stars Victoria and Ruthee.
The trio dove into the action, competing in games and claiming victory. They were awarded TECNO-branded gift items, earning cheers and applause from the thrilled crowd.
The event was an unforgettable experience, leaving a lasting impression on all who attended.
Telecom
Sophos Report Highlights Cyber Risks During Holiday Shopping Season
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.
Telecom
MTN Nigeria Shops for N50Bn Commercial Paper to Boost Working Capital
MTN Nigeria Communications Plc has announced plans to issue up to N50bn in Series 13 and 14 Commercial Paper Notes under its N250bn Commercial Paper Issuance Programme.
This proposed issuance aligns with the company’s strategy to broaden its funding sources and strengthen its liquidity position.
The proceeds from the issuance are earmarked to support MTN Nigeria’s short-term working capital needs, enabling the company to sustain its operations and meet financial obligations effectively.
In a statement to the Nigerian Exchange Limited (NGX) and the investing public, MTN Nigeria emphasized its commitment to maintaining financial stability and operational efficiency.
According to the statement signed by Uto Ukpanah, company secretary, further details regarding the structure, pricing, and timeline of the issuance will be disclosed to the market in due course, as MTN Nigeria continues to engage with stakeholders and regulatory authorities.
MTN Nigeria recently completed its series 10 commercial paper issuance under its upsized N250bn commercial paper issuance programme.
The telecom giant said it sought to raise N72.1bn and the offer recorded 149 per cent subscription with N72.1bn issued.
The 266-day commercial paper was issued on 29 November 2023 at a yield of 16 per cent.
The CP issuance aligns with MTN Nigeria’s strategy to continue diversifying its funding sources and reducing its average cost of debt. The proceeds will be applied towards short-term working capital requirements.
Karl Toriola, chief executive officer, MTN Nigeria said. “We are pleased with the support received from the investor community, having recorded a 149 per cent subscription from a broad range of investors. This reflects NTN Nigeria’s robust financial capacity, brand strength, and market leadership amidst the upward pressure on interest rates”
Stanbic IBTC Capital Limited played the role of Arranger and Dealer with ARM Securities Limited. Chapel Hill Denham Advisory Limited, Coronations Marchant Bank Limited, FCMB Capital Markets Limited, Quantum Zenith Capital &Investments Limited, Rand Marchant Bank Limited, and Vetiva Capital Management Limited played the role of Joint Dealers on the transaction.
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