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Nkemdilim to Speak in South Korea on Africa Innovation
Nkemdilim Begho, Chief Executive Officer of Future Software Resources Limited, will join Heads of African State, Delegations of 80 member countries, international organizations, government establishments, public corporations, private businesses, financial institutions, press, among others in South Korea to tell the story of how best to promote innovation and entrepreneurship in Africa.
Begho will be speaking at two conferences in South Korea – KOAFEC 2018 and the African Development Bank Meeting 2018, alongside other leading voices in Africa including Ngozi Okonjo-Iweala, Board Chair, Gavi, the Global Alliance for Vaccines and Immunisation, between 21st May, 2018 through 25th at the BEXCO, Busan.
Speaking ahead of the events, Begho, a strong promoter of software in Nigeria told newsmen that Africa has a lot of potential in embracing and leap-frogging smart infrastructure, as well as building strategic economic growth through innovation and entrepreneurship.
The KOAFEC 2018 panel discussion, according to her, would focus on how smart infrastructure can contribute to Africa’s socio-economic transformation in the areas such as energy, transportation, agriculture, sustainable environment, health, education, e-government, ICT, etc.
Panelists include: Mr. Amadou Hott, Vice President, Power, Energy, Climate and Green Growth, African Development Bank, Ms. Nkemdilim Begho, CEO, Future Software Resources Ltd, Mr. John Tanui, Chief Executive Officer, Konza Technopolis Development Authority, Mr. Sérgio Pimenta, Vice President for Africa & MENA, International Finance Corporation, Mr. Mark Hyung-Joon Kim, Executive Vice President, Korea Telecom and Mr. Young-hoon Chang,Executive Director, EDCF Group, The Export-Import Bank of Korea.
According to the software guru who is one of the leading women in ICT in Nigeria, her discussion would focus on how software and IT Consultancy service providers like Future Software Resources Limited can be involved in the development of smart infrastructure in Africa.
Key talking points include: IT Consultancy Services, Development of end user applications and interfaces, Driving Digital inclusion, Inclusive Content creation and development in local languages, Digital Marketing to engage with the citizens to drive adoption rates, Capacity Development to increase skilled labour and ensure self-sustainability of the smart infrastructure, among others are among key touchpoints.
The panellists of the second panel at the African Development Bank Meeting will be dealing with how best to promote innovation and entrepreneurship in Africa.
The panel, she explained would focus on the current status of startups in Africa and the future plans for expanding innovation and entrepreneurship on the continent.
Begho who has represented Nigeria in other global forums to tell the story of how best Nigeria can retool Nigeria, said that the key objective on the second panel would contribute to innovation that raises productivity and growth, leading to job creation and poverty reduction in developing countries.
The discussion, according to her, would will focus on the need for the 4th Industrial Revolution and Entrepreneurship, role of Public – Private sector to activate innovation and entrepreneurship, Internation al Cooperation to expand join ventures, exchange of Technology and Human Resources of companies in Africa, current status of startups in Africa and action plan, strategies for Startups and Scale-ups, role of young African Entrepreneurs and ways of shared growth and sustainability between Africa and Asia
Panelists will include Connyong Jennifer Moon, Chief Anchor, Arirang TV Network, Patrick Vermeulen, Professor and Academic Director, Radboud University, Ngozi Okonjo-Iweala, Board Chair, Gavi, the Global Alliance for Vaccines and Immunisation, Hanan Morsy and Director, Macroeconomic Forecasting and Research, AfDB.
Corporate Affairs Commission (CAC) has warned Nigerians against transacting with three fake Nigerian firms, citing fraudulent incorporation documents and registration numbers not issued by the commission.
According to the CAC, these companies are using fake certificates of incorporation with two different RC numbers each, none of which exist in the commission’s official records.
The affected companies are SPEF Cooperative Society Ltd with RC Numbers 1265884 and 512862, UPIL Staff Cooperative Society Ltd with RC Numbers 1265837 and 553220, and PREM Staff Cooperative Society Ltd with RC Numbers 1265844 and 545901.
The CAC warns that any Nigerian conducting business with these entities does so at their own risk.
“Anyone that transacts any business with the above-mentioned companies does so at their own risk,” the commission warned.
The commission further advised potential partners and investors to verify registration details directly through its official portal before signing contracts or making payments.
Similarly, the CAC, in a bid to enhance its services, introduced an AI-powered business registration platform on July 3, designed to streamline incorporations.
This new system offers instant name reservations, automated business-name suggestions, and same-day registration using a National Identification Number (NIN).
Additionally, the commission plans to review its service fees starting August 1, aiming to make its services more efficient and cost-effective.
The African Development Bank, in partnership with the International Labour Organization, has launched a transformative system to mainstream youth employment, skills development, and entrepreneurship across its investments.
The approach, called the Youth, Jobs and Skills Marker System, is aligned with the Bank’s latest Ten-Year Strategy, which places Africa’s young people at the center of development efforts to maximize the impact of every dollar invested, turning demographics into a dividend.
The Marker System ensures that Bank projects spanning diverse sectors, such as agriculture, transport, energy, water, and education, systematically incorporate components that enhance youth employability, foster entrepreneurship, and build market-relevant skills.
“The Youth, Jobs and Skills Marker System is about ensuring Africa’s young people have a real say and active role in building sustainable economies and creating jobs – not as passive recipients of youth programs,” said Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development. “This transformation of Bank practices and systems is a step toward making sure our investments have a positive impact on Africa’s young women and men.”
The integrated system has three focus areas:
Youth: Supporting youth-led micro, small, and medium-sized enterprises through targeted investments and operational integration.
Skills: Expanding access to practical, market-driven training and apprenticeships to enhance career prospects.
Jobs: Ensuring Bank-funded projects create sustainable job opportunities, particularly by developing youth skills for employability and the promotion of youth-led businesses in priority value chains.
Each year, around 10 to 12 million young Africans enter the labor market, which offers only three million formal jobs annually. The Bank will prioritize youth entrepreneurship and mobilize private sector partnerships to strengthen industry-oriented skills training as well as job creation over the coming decade.
“[This initiative] is very important because it allows us to significantly contribute to the United Nations Sustainable Development Goal #8 that includes decent work for all,” said Peter van Rooij, Director of Multilateral Partnerships and Development Cooperation at the International Labour Organization. “It also allows the International Labour Organization to influence the Bank’s work, to support their lending that is more geared toward more job creation and better jobs in a sustainable way.”
The Youth, Jobs and Skills Marker System is modeled on the success of the Bank’s Gender Marker System and its online dashboard, which categorize Bank projects based on their contribution to gender equality and women’s empowerment.
Similarly, the new system will feature an online platform enabling Bank staff and consultants to access real-time data for preparing country strategy papers, mid-term reviews, annual reports, project supervision, and reporting on youth-related skills, businesses and jobs outcomes.
The Bank has just launched a pilot version of the Youth, Jobs and Skills Marker System in readiness for the full implementation in 2026. This system will enhance data tracking, improve estimates of youth skills attainment and employment, strengthen labor market information systems, and support policymakers in making evidence-based decisions that drive meaningful change.
The International Labour Organization provided technical support for the system’s development with financial support from the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund. The Youth, Jobs and Skills Marker System is the first deliberate action of its kind developed by a development finance institution worldwide.
The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
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