Telecom
SFS Fund Mobile App Records 300% Increase in Users’ Download
SFS Capital, leading investment manager in Nigeria, have announced a 300% increase in users’ downloads of their mutual fund investment app, SFS Fund Mobile App. The app, launched in the second half of last year is aimed at enabling individuals to begin their investment journey with ease.
Some of the features of the SFS Fund Mobile App that have eased acceptance by both new and existing users include an easy-to-use interactive dashboard, as low as NGN 5,000 accepted start-up investment, investments made on the go and are mobile-friendly, enabled direct transfers from users’ banks to their virtual accounts and having third party payments that can be made directly into users’ investment accounts.
“There’s no doubt that investment apps became really popular last year and we are extremely excited about the growth of the SFS Fund Mobile App and how it is playing a role in encouraging more individuals to start their investment journey with Mutual Fund”, Managing Director and CEO of SFS Capital, Patrick Ilodianya said.
Globally, there has been a rise in the usage of retail investment apps. The COVID-19 pandemic induced pragmatic investment decisions by individuals coupled with increased accessibility to mobile, enabled more individuals to start investing.
The SFS Fund Mobile App is apt for individuals who need a trustworthy, secure and easy platform for high yield investments in Mutual Funds. The app is available for download on Android and iOS. Investments made via the app are managed by seasoned investment experts in the Nigerian financial market who ensure that the returns paid to investors range from 11% to 17% per annum. The Fund has consistently maintained an “AA+” rating which is the 2nd highest possible rating for a Mutual Fund and has a high competitive return on investment and no pre-termination charge.
Investment in Mutual Funds is a proven recipe for wealth creation given the opportunities and flexibility it presents to investors. “This year we will like to encourage more individuals to make a more decisive move concerning their finances. Investing in Mutual Funds via the SFS Mobile Fund App makes it possible for individuals to begin to build wealth especially in an economy like ours that is characterised with downturns and uncertainties”, Ilodianya added.
The SFS Mobile Fund App is part of SFS Capital’s digitisation narrative as the investment management company builds on the legacy it has as a leading Nigerian non-bank financial institution.
Telecom
Galaxy Backbone Deploys Fibre Optic Network in Lagos, Ibadan and Ilorin
Galaxy Backbone (GBB), the information technology and shared services provider of the Federal Government of Nigeria, has announced the successful expansion of its state-of-the-art fibre optic network to Lagos, Ibadan, the capital of Oyo State in southwestern Nigeria, and Ilorin, capital of Kwara State in the north-central region.
What is described as a remarkable milestone is part of Phase II of the country’s National Information and Communication Technology Infrastructure Backbone (NICTIB) project.
With a robust cross-country optical fibre backbone now extending over 5,000 kilometres and across 27 state capitals, GBB says it has solidified its role as the digital backbone of Nigeria. This development seamlessly integrates the nation’s six geopolitical zones.
The newly completed Abuja-to-Lagos route, traversing key cities such as Minna, Bida, Mokwa, ilorin, Ogbomoso, Oyo, Ibadan and Lagos, is a strategic enhancement designed to strengthen network reliability. By establishing a closed network ring linking Lagos – the nation’s economic hub – to Abuja, the capital city, GBB says it ensures service redundancy and minimises potential downtime.
Professor Ibrahim A Adeyanju, managing director/CEO of Galaxy Backbone, says: “The expansion of our fibre optic network to Lagos, Ibadan and Ilorin is a significant step forward in our mission to bridge the digital divide and position Nigeria as a leader in the global digital economy. This advanced infrastructure empowers us to deliver innovative, customer-centric solutions that serve the needs of both the public and private sectors.”
He adds: “This expansion not only supports the government’s digital economy agenda but also sets the stage for meaningful collaboration with private sector organisations seeking to leverage our infrastructure.”
Telecom
NBS Says 25m Phones Stolen in Nigeria in 12 Months
National Bureau of Statistics (NBS) has reported that over 25 million phone thefts between March 2023 and April 2024, according to its Crime Experience and Security Perception Survey 2024.
The Crime Experience and Security Perception Survey 2024, indicated that an estimated 17,965,741 people had their phones stolen during the reference period
Phone theft, which is a common individual crime in the country, shows that seven out of every 10 stolen phones happened at home or public places, with a mere 11.7% of people who reported to the police expressing satisfaction with their response.
Less than 10% of the victims of phone theft reported the case to the police, while over 90% failed to report to the police for various reasons.
“At the individual level, 21.4 per cent of Nigerians reported being victims of crime, and the most common crime was phone theft (13.8%),” the report read in part.
Telecom
Airtel Once Again Wins Partnership of the Year Award at SERAS 2024
Airtel Nigeria has once again been recognized for its commitment to sustainable development, carting away the Partnership of the Year award at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS) held at the Oriental Hotel, Victoria Island, Lagos, on Saturday, 14th December, 2024.
The award celebrates Airtel’s continued success with its Re-imagine Education Initiative, a ground-breaking collaboration with the United Nations Children’s Fund (UNICEF) aimed at transforming education in Nigeria through technology.
Airtel’s consistent focus on creating social value through strategic partnerships reflects its position as a key enabler of progress in the Nigerian education sector.
Commenting on the award, Femi Adeniran, Director, Corporate Communications and CSR, highlighted the significance of the winning the Partnership of the Year award for the second time with the Airtel collaboration with UNICEF to provide digital access to quality educational resources for more than 1,200 schools in Nigeria.
“Winning this award for the second consecutive year is a reflection of our enduring belief in the transformative power of technology in education. We are deeply committed to making a meaningful difference in the lives of Nigerians, and this recognition fuels our resolve to do even more,” he said.
The SERAS Awards, widely regarded as Africa’s most prestigious platform for celebrating sustainability and corporate social responsibility, brought together leaders from various industries to honour organizations driving impactful change.
Airtel Nigeria remains steadfast in its mission to foster inclusive growth, empower communities, and champion a sustainable future for its stakeholders and the environment.
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