E-Financial
SecureID Commissions First Polycarbonate eID, EMV Certified Plant in Africa
SecureID Limited, an industry leader in smart card supply and personalization business, has announced the launch of its new and first polycarbonate plant in Africa called SecureCard Manufacturing.
This ultra modern plant focuses on the polycarbonate card body production and high security designs which confirms a successful fulfillment of another milestone in the backward integration of smartcard manufacturing process.
SecureID built its first personalisation plant in 2006 using advanced technology equipment to personalize imported smartcards for various purposes across different sector of the economy. In 2008, SecureID took the lead to backward integrate into “Milling and embedding”; a core aspect of personalization.
Milling and embedding is the process of milling a cavity into a card body and embedding a chip module unto the plastic. We refer to this as “Sub-assembly”.
SecureCard Manufacturing Plant is the first polycarbonate smartcard manufacturing plant in Africa capable of producing large supplies of cards to the tone of 200 million cards per year in line with global standards.
This great achievement brings to birth another level of backward integration in card manufacturing process which distinguishes SecureCard Manufacturing from being a Perso bureau.
Perso bureaus create uniqueness by graphical and chip personalization while full end-to-end manufacturers such as SecureCard actually manufacture the card.
It is important to note that Perso bureaus cannot manufacture smartcards rather they specialize in personalizing manufactured smartcards.
The completion of the new EMV certified plant allows SecureID to significantly manufacture polycarbonate ID cards (ranging from national IDs, payment cards, SIM cards) of any specifications and standards from around the world, locally.
The plant has been tested by foreign test labs and certified by MasterCard, Visa and Verve for all kinds of smartcards production. It is equipped with ultra modern facilities and employs ” Special Security Design ” software to design unlimited security features that can be used for any ID documents including currency note.
“I really appreciate SecureID for the decision to work with us for the supply of world class manufacturing equipment and related services. This plant is equipped with the state of the art machines and ready to operate with most advanced technology and manufacturing processes capable of delivering high security level requirements. I can confidently say that this polycarbonate plant is a remarkable achievement in Africa despite the complexity of setting up,” said Charles Mevaa, Vice President Government Program, Gemalto.
This great effort in delivering a world class plant will in no doubt contribute to the growth and development of the nation’s economy in various ways such as job creation, technology transfer as well as skilled manpower, capacity development and reduction in capital flight in line with the Nigeria Industrial Revolution Plan (NIRP) launched by the President, Federal Republic of Nigeria, Dr. Goodluck Ebele Jonathan in 2012.
This further opens up opportunities for entrepreneurship as approximately 75% of raw material used for the manufacturing of smartcards are made from petrochemical products that can be sourced locally in the next three to four years if supported by the Federal Government.
It also reduces the strain on foreign exchange as clients will be more competitively positioned because of the proximate benefits.
One important benefit of producing smartcards locally is the security of Nigeria’s citizens data and infrastructure, offering the benefit to create and own all the technology on our smartcards without dependence on control from outside the country.
Other countries like India have already adopted the same and this was effective from October 2014 “all the applications that reside on their chip modules must be loaded from inside the country”
Titan Trust Bank has selected Oracle FSS for its core and digital banking technology, it is understood.
The start-up bank recently obtained its license by the Central Bank of Nigeria (CBN).
It’s understood that Temenos and Infosys also competed for the deal.
The shortlist came down to the two most widely installed international core systems in Nigeria, Infosys’ Finacle and Oracle FSS’s Flexcube.
The Nigerian banking sector has seen a great deal of upheaval over the years, with many mergers, start-ups and closures. Flexcube is a well respected name since the late 1990s (the pioneer was Access Bank, now one of the country’s top five banks) and has been a commonly selected platform since then.
The new bank is believed to be one of five to have gained regulatory approval of late (Globus Bank is another).
Local media sources say the new licences stem from the Central Bank’s desire to attract new investments into the sector and better serve the country’s 50 million+ unbanked and under-banked citizens.
Titan Bank is said to be headed by a former executive director of Heritage Bank (which is a Finacle user).
Oracle FSS did not respond to request for comment.
International Monetary Fund (IMF), has appointed Tony Elumelu, Nigerian billionaire and group chairman of Heirs Holdings, owners of United Bank of Africa, to its advisory council on entrepreneurship and growth, convened by Kristalina Georgieva, the fund managing director.
The announcement was disclosed in a statement on Friday.
According to the statement, the IMF advisory council comprises global business leaders, policymakers, and academics dedicated to identifying and addressing regulatory barriers to entrepreneurship.
The IMF said Elumelu will be instrumental in ensuring that Africa’s entrepreneurship is central in policy making.
“Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored, and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa,” the statement reads.
“A self-made entrepreneur, Elumelu’s embracing of entrepreneurship is fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development, making long-term investments that deliver social and economic value.
“Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policy making.”
Speaking at the inaugural meeting of the advisory council on March 26, Georgieva said the appointees would share their experiences on how macroeconomic and financial policies “can provide a supportive environment for innovation, entrepreneurship, and productivity — key ingredients for a thriving private sector and strong economic growth”.
Africa’s Micro, Small, and Medium Enterprises, fintech industry, scaling remittances, and cross-border payments will be the driving forces behind the continent’s digital ballooning payments system, which is estimated to reach $1.5 trillion by 2030.
This is according to a MasterCard-commissioned study by Genesis Analytics, which states that the digital payments economy is growing faster on the continent.
This comes as the World Bank says Sub-Saharan Africa has shown significant growth in financial inclusion over the past decade, much of it driven by mobile money account adoption.
Dimitrios Dosis, president, Eastern Europe, Middle East and Africa at MasterCard, comments: “Africa is filled with immense possibilities, and its people have the potential to shape the global economy in the decades ahead.
“MasterCard remains deeply committed to driving digital transformation across the continent, working closely with entrepreneurs, merchants, banks, start-ups, telcos, and governments. By increasing our investments, expanding innovation, and fostering inclusion, we are helping build a more connected and accessible digital future.”
The payment technology company went on to say as a longstanding technology partner to Africa, its continues to strengthen its commitment to the continent’s digital growth through strategic investments, public-private partnerships, and innovation initiatives that drive financial health and economic growth.
In addition, it says trends in Africa signal a strong shift towards digital transactions, with businesses and consumers increasingly embracing contactless solutions, further accelerating economic participation and financial accessibility across the region.
“For over five decades, MasterCard has worked alongside African governments, businesses, and communities to advance financial inclusion and economic development.
“With Africa projected to host nine of the world’s 20 fastest-growing economies, we are focused on leveraging our expertise and a technology to support the continent’s continued digital transformation.
“Our investments today will help build a more resilient economy for the future,” says Mark Elliott, division president, Africa, MasterCard
By fostering collaboration with key stakeholders, MasterCard says it aims to enhance digital connectivity, expand economic opportunities, and enable millions of people and businesses to thrive in the digital economy.
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