News
NITDA to Partner COREN in Driving Engineering Processes
The National Information Technology Development Agency, (NITDA) has expressed its willingness to collaborate with engineering professionals in Africa in order to infuse emerging technological tools, services and knowledge into engineering processes for enhanced productivity and customer satisfaction.
The Director General of NITDA, Kashifu Inuwa CCIE made this known when he played host to a team of the Council for the Regulation of Engineering in Nigeria (COREN), led by its Registrar, Engr. Prof. Adisa A. Bello and a team from the Engineers Board of Kenya, led by its chairman, Engr Erastus K. Mwongera at the Corporate Headquarters of the Agency in Abuja.
The NITDA Director General stated that emerging technologies are reshaping the way engineers design and develop their equipment globally and it is a necessary step in the right direction that Africa adopts it for optimal productivity in its engineering processes.
According to Inuwa, there is need for a convergence between information technology and engineering because it would reduce cost of research and development as well as enhance innovations in real-time to achieve desired results.
“Today we are talking about data and in mechanical engineering for example, there are no longer machines on the field, there are smart and connected machines that are able to generate data for predictive maintainers and predictive analytics”, he buttressed.
While expressing his excitement at the interest in collaboration shown by the visitors, he stated that it would give room to a plethora of opportunities where ideas and expertise can be collectively harnessed to drive Africa to an enviable position.
“I am glad that Africa is now looking inward to see how to put our energies together to develop African countries. Engineers are problem solvers and as long as the solutions are local, it will require local initiative as well,” he stated.
Reiterating that information technology is pervasive and believing that Africa has all it takes to be a global superpower in the fourth Industrial Revolution, Inuwa urged the two visiting engineering bodies to develop existential capabilities and flexibility to survive and thrive.
Reaffirming that technology has been disrupting processes including engineering processes globally; Inuwa disclosed that NITDA has developed various initiatives and strategies in fortifying the innovative ecosystem within and beyond the country.
He said, “At NITDA, we are promoting innovation-driven enterprises and the target is to take it to the global market. We have initiatives that bring the youths together, build ecosystems and build solutions to our problems.”
Eulogizing the impact of information technology on the status quo of existing traditional processes, the NITDA boss stated that information technology has been phenomenally inspirational by enabling creative ideas for enhanced business value propositions and creating new approaches to solving problems.
Inuwa accentuated the need to leverage digital technologies in boosting engineering processes and urged the visitors to fully exploit the three capabilities of Ubiquitous Data where information is collected, analyzed and commercialized, Connectivity, where existential flexibility can be used in harnessing resources from the physical, digital and biological worlds and lastly, Processing Power, where trending devices can be used in enhancing job processes.
“So, if you can use these three capabilities, nothing is impossible in this world and anything you want to do, you can achieve with it,” he assured.
In his earlier remark, Prof. Bello commended NITDA for their milestone achievements over the years and appreciated the Agency for their willingness in collaborating with COREN in deploying Information Technology into engineering processes for enhanced productivity.
In the same vein, Engr. Mwongera in his remark marveled at the extraordinary work being done at the Agency’s National Centre for Artificial Intelligence and Robotics (NCAIR).
He expressed his delight at collaborating with NITDA while using its achievements as benchmarks for up-scaling engineering processes in Kenya and the continent as a whole.
News
Standard Chartered, BII Renew $350 million Commitment to Support Trade Finance in Emerging Markets
Standard Chartered, a leading international cross-border bank, and British International Investment (BII), the UK’s development finance institution (DFI) and impact investor, announce the signing of a USD350 million risk participation agreement. This facility aims to bolster the trade finance needs of SMEs and corporates across Africa and South Asia and to boost economic growth in these regions.
Since the initial agreement in 2013, Standard Chartered and British International Investment have enabled over USD10 billion in trade volumes in over 10 countries across Africa and South Asia including Kenya, Tanzania, Nigeria, Bangladesh, Pakistan and Nepal. In the past year, approximately USD450 million of trade has been supported via this facility.
The renewed facility will cover an expanded number of dynamic markets and seek to provide much needed support in trade and economic growth in Africa and South Asia by further enabling trade finance access and liquidity across Standard Chartered’s extensive global network. It will support many sectors such as food, agriculture, healthcare, industrials, metals infrastructure, electrical, electronics, technology, telecom and mobility to name a few.
The facility also supports the United Nations’ Sustainable Development Goals of Decent Work & Economic Growth (UN SDG 8), Industry Innovation & infrastructure (UN SDG 9), Responsible Consumption & Production (UN SDG 12).
The UK’s Development Minister Anneliese Dodds said: “I am delighted to see BII and Standard Chartered renew their facility to deliver trade finance throughout Africa and South Asia. This is an important partnership that will support SMEs and corporates to grow and deliver critical goods and services.
“Trade plays an important role in economic transformation, and this risk-sharing facility demonstrates how BII can work with financial institutions to support our shared development objectives.”
Nick O’Donohoe, CEO, BII, said: “We are proud of the positive impact that this long-standing trade finance facility with Standard Chartered has had in Africa and South Asia. By enabling over $10bn in trade volumes, the facility continues to empower businesses and facilitate the vital flow of essential goods and services including food and healthcare.
This is pivotal in supporting economic growth and creating new opportunities in these regions. It is also a step closer to narrowing the global trade finance gap.”
Saif Malik, CEO, UK and Head of Banking & Coverage, UK, Standard Chartered said: “We are thrilled to renew our commitment to work with BII in support of trade. As a leading international banking group, we play a vital role in enhancing access to the capital and liquidity that is essential for global trade.
This strategic agreement will provide significant support to businesses with high potential but constrained access to finance. It aligns to our vision of the role that banking and finance can play in supporting the growth ambitions of corporations that innovate for the future by connecting the world’s most dynamic markets in trade, investment and capital flows.
News
Substandard CNG Cylinder is Recipe for Disaster- SON
Standards Organisation of Nigeria (SON) has warned the public against the use of substandard and uncertified Compressed Natural Gas (CNG) cylinders.
The warning is coming in the wake of the unfortunate recent incident of CNG cylinder explosion at the NIPCO CNG Refueling Station in Benin City, Edo State.
In a statement, the organisation said it has put robust and effective regulatory measures in place to ensure that all CNG equipment and conversion kits conform to approved standards before being certified for public use.
“The conformity assessment schemes are designed to prevent the import, manufacturing, and use of substandard products,” it stated.
In addition, SON said it is collaborating with the Presidential Initiatives on CNG and other relevant government bodies to finalise the Nigerian Gas Vehicle Monitoring System (NGVMS) – a platform that will provide centralized monitoring and surveillance of CNG systems to ensure that only vehicles equipped with certified conversion kits can access gas at retail outlets.
“The NGVMS will also offer a database of approved CNG equipment and suppliers which will go a long way in preventing the substandard installations and further mitigating the associated risks.”
News
Access Bank Wins Best Digital, Best Website at 2024 Digital Jurist Awards
Access Bank PLC has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.).
In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience. Access Bank’s cumulative score of 380 points reflects its excellence across digital touchpoints, including its website, web portal, mobile app, and social media.
Commenting on the recognition, Amaechi Okobi, Chief Communications Officer of Access Holdings PLC, said, “We are honoured to receive the Best Digital and Best Website Awards at this year’s Digital Jurist Awards. At Access, our focus on digital innovation is driven by our commitment to deliver seamless, secure, and customer-centric solutions across all touchpoints.
This recognition validates our ongoing efforts to enhance our digital platforms, making financial services more accessible and efficient for our customers. We thank Phillips Consulting for recognising our efforts and will continue to raise the bar in digital excellence.”
Phillips Consulting has long served as a development partner to Nigerian financial institutions and other organisations with an online presence. Leveraging its proprietary Digital Jurist platform, the firm has conducted assessments of digital touchpoints in various sectors, from financial services and insurance to telecommunications and government agencies, over the past 17 years.
Originally established as Web Jurist®, the platform was reimagined as Digital Jurist to assess new and diversified digital channels in the evolving digital economy. Digital Jurist’s evaluation framework examines a range of factors, including user experience, accessibility, performance, functionality, security, customer service, support, marketing, and content engagement across digital platforms.
These awards reinforce Access Bank’s leadership in digital banking, adding to recent accolades including 2024 Best Digital Bank and Best Mobile Banking App by World Finance, Best Mobile Banking App and Best Digital Bank by The Digital Banker Awards, and Best Digital Banking Initiative at the Global Retail Banking Innovation Awards 2024.
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