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AU urges nations to respect, protect personal information

The African Union’s Convention on Cyber Security and Data Protection (known as the Malabo Convention) has outlined principles which urge all AU member states to respect and protect individuals’ rights to privacy online and offline.

Multiple member states have already ratified the Malabo convention or put in place data protection laws and South Africa has become the latest African country to legislate the protection of personal information, with the country’s Protection of Personal Information Act in South Africa that came into effect on 1 July 2020.

Along with countries including Kenya, Botswana, and Nigeria, South African organisations must now move to comply with new regulations to protect identifying and personal information it collects, stores and manages, according to the AU convention.

It noted in a statement that global best practice in the protection of personal information would become increasingly important as pan-African trade picks up, and as African countries seek to boost exports internationally.

However, according to the charter, compliance with pan-African and global data privacy, security laws and regulations can be a daunting task for any organisation, especially since requirements are often vague and ambiguous, with little specific guidance as to how to achieve compliance.

In a 2019 survey conducted by Sophos, only 34 per cent of South African organisations were reportedly ready to comply with POPIA.

Jaiz Bank shareholders to get N884m dividend

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Shareholders of Jaiz Bank Plc are  to receive N884m dividend subjected to appropriate withholding tax.

The Chairman,  Alhaji Umaru Mutallab, disclosed this at the 8th Annual General Meeting of the bank held via webinar on Thursday.

Mutallab said the non-interest bank had approved its proposed first dividend payment of N0.03 kobo per 50 kobo ordinary share for the year ended 2019.

“This dividend, despite being modest, signifies a lot to our shareholders, board and management. We remain strongly committed to sustaining the tempo in the coming year, God’s willing,” Mutallab said.

He stated that the payment would be made electronically to shareholders whose names appear in the Register of Members as at June 26, 2020.

According to him, the shareholders must have completed the e-dividend registration for the registrar to pay their dividends directly into their bank accounts.

“The bank declared a Profit After Tax of N2.4bn in its audited financial results for the year 2019, showing a surge of 193 per cent from N834.4m recorded in the corresponding period of 2018.

“The bank also declared a 135 percentage increase in Profit Before Tax for the period under review from N879.7m recorded in 2018 to N2.1bn in 2019.

“Highlights of the audited financial statement showed that gross income grew by 80 per cent to N13.5bn in 2019, from N7.5bn recorded in 2018, while total assets gained 54 per cent to N167.27bn in 2019 from N108.46bn recorded in 2018,” he stated.

In his remarks, the Managing Director, Hassan Usman, said the progress the bank made in 2019 was broad-based, apart from stronger income statement and salance sheet.

He said they had also tackled the bank’s efficiency base, with the consequent reduction in its Cost-Income-Ratio from 87.28 per cent in 2018 to 80.21 per cent in 2019.

According to him, the bank delivered stronger Return on Equity of 13.57 per cent during the year, a significant increase of over 100 per cent when compared with that of 2018.

The bank is strongly committed towards creating optimum value to all its stakeholders, he added.

AEC shares vision for Africa through 60-minute sessions

The African Energy Chamber has announced it will host bi-monthly introductory sessions to its team across the continent intending to showcase its vision for Africa and how industry practitioners can join the journey through obtaining membership.

The open-to-public events will allow attendees the opportunity to gain insight on the work the chamber has done on the continent over the last few years and how it plans to continue on the momentum in order to achieve its goal of advancing the African energy sector.

Through the 60-minute sessions, the chamber will allow its representatives in East Africa, South Africa, Angola and the CEMAC region the opportunity to provide their observations of the current state of their markets and, how the chamber will contribute to their growth and development amid the global crisis and beyond.

The sessions will also highlight the objectives of the membership offering, its benefits and how the industry can join in on accelerating Africa’s growth through a question-and-answer format.

Speakers will include Executive Chairman, NJ Ayuk; Senior Vice President, Verner Ayukegba; Sergio Pugliese, President for Angola; Leoncio Amada Nze, Executive President, CEMAC region and Eng. Elizabeth Rogo, Executive President for East Africa.

“We are humbled by the amount of support we have received since launching our membership offering,” said NJ Ayuk.

“The rate of interest we have seen in the last few weeks has confirmed to us that there are many looking to join a network of industry keen on effecting change. Despite what is happening in the world, Africa is remaining strong and at the Chamber, we are pleased to play a role in this strength and progression. Through our sessions, we hope to let you know who we are, what we stand for, how we see our continent developing in the next few years and, how you can join in on the journey to see through Africa’s greater growth.”

Banks must resolve ‘black box’ risk governance challenges to succeed with AI post-pandemic — Economist

Data bias, “black box” risk, and lack of human oversight are the main governance issues for banks using AI, according to the Economist Intelligence Unit report ‘Overseeing AI: Governing artificial intelligence in banking.’

The report is based on a review of global regulatory guidance on AI risks and governance in banking carried out by the EIU on behalf of Temenos, the banking software company.

The report trends will be discussed on the webinar ‘Rules of the game changer – governing AI in banking’ on 23 July, with CWB Financial Group, TSB Bank and Temenos.

The report highlights that AI is a top priority for technology investment for banks and reveals that 77 per cent of banking executives believe that AI will separate winning from losing banks. AI is expected to retain its importance after the pandemic as banks look to new technologies to help them adapt to changing customer needs and compete with new market entrants.

The EIU report reveals that ensuring ethical, fair and well-documented AI-based decisions will be vital for banks deploying AI technology, highlighting key governance challenges.

Prema Varadhan, Chief Product Architect and Head of AI, Temenos, commented: “AI is changing the face of the banking industry. It gives banks the ability to process more data in real-time, and learn from customer behaviors, helping them to bring operating costs down and hyper-personalize their services. Banks are using AI to transform their customer experiences and back-office operations so ensuring that the technology is deployed ethically is more important than ever.

‘White box’ models, like Temenos’ Explainable AI, can explain in simple human language how decisions are made and win the trust of regulators and customers alike. As the custodians of customer data and trusted advisors, banks have a responsibility to adopt transparent, explainable AI technology – those that do stand to gain the competitive advantage in the new normal.”

The EIU review cites data bias that leads to discrimination against individuals or groups of people as among the most prominent risks for banks using AI.

Commenting in the EIU review, Prag Sharma, Senior Vice President, Citi Innovation Labs, said: “Bias can creep into AI models in any industry, but banks are better positioned than most types of organizations to combat it. Maximizing algorithms’ explainability helps to reduce bias.”

In addition, Pete Swabey, Editorial Director EMEA – Thought Leadership, The Economist Intelligence Unit, said: “AI is seen as a key competitive differentiator in the sector. Our new study, drawing on the guidance given by regulators around the world, highlights the key governance challenges banks must address if they are to capitalise on the AI opportunity safely and ethically.”

Clickatell launches chat desk to shake up $1.3tn call centre industry

Clickatell, a global leader in mobile communications and chat commerce, has announced the launch of Chat Desk, a digital contact centre solution that helps agents resolve customer queries and obtain customer insights in real-time using chat channels for live agent support.

According to Clickatell, the solution addresses the growing consumer demand for easy and personal experiences by transforming the traditional call centre with one simple integration.

“For decades, businesses have spent significant resources on the call centre experience – generating 265 billion customer service calls each year – and most of this investment does not create desired outcomes for businesses or consumers. It’s cost-prohibitive and doesn’t provide customers with the experience they expect,” said Jeppe Dorff, Chief Product and Technology Officer at Clickatell.

“Chat Desk addresses some of the biggest customer experience challenges today. It enables consumers to communicate on the chat channels they are most comfortable using while enabling organizations to easily integrate chat to deliver the very best customer experience and not break the bank.”

A complete end-to-end chat solution, Clickatell’s Chat Desk enables live agents and their supervisors to communicate with customers over popular chat platforms such as WhatsApp, tracking tickets and chat histories.

“Our clients connect with each other all day, every day with instant messages,” said Shaun Kotwal, Head of Standard Bank Wealth and Investment, South Africa.

“By providing Clickatell’s dedicated Chat Desk, we can deliver a service that is more personalized than ever before – right where our clients are already communicating. A service that is not only simple but also secure.”

By integrating chat channels within Chat Desk, businesses lowered the demand on costly, traditional voice channels and enabled agents to resolve multiple chat requests simultaneously, lowering the cost per resolution and increasing customer satisfaction, Dorff explained.

Chat Desk’s real-time reporting and analytics provides agents with the ability to view customer sentiment and insights, and access customers’ outstanding and historical tickets. With these features, agents efficiently manage customer escalations by easily transferring inquiries to correct departments or specialised agents.

“Studies have shown that just three percent of customers enjoy using IVR (interactive voice response), yet 80 per cent of interactions can be resolved by automation and engagement,” added Dorff.

“Chat Desk addresses this divide with a solution designed to delight customers and build brand loyalty.”

Report: AfDB enhances food security for nine million people

The Water Mobilisation Project to Enhance Food Security in Maradi, Tahoua and Zinder Regions, implemented between 2011 and 2018 in Niger, has sustainably increased agricultural production and productivity and increased food security for nearly nine million residents of the country, according to a report by the African Development Bank.

Financed through a loan of $11m from the African Development Fund and a grant of $28.7m from the Global Agriculture and Food Security Programme, the project directly involved 218,000 people in the three regions of south-central Niger, with another nearly 476,000 indirectly affected.

These three regions are home to approximately 56 per cent, or 8.9m people, of the country’s population.

“The project’s expected effects, as far as food security, increased production and jobs, were achieved overall,” according to the PMERSA-MTZ final report.

The team was led by Moustapha Cheick Abdallahi Cheibany, senior agricultural economist for the bank.

“Grain production goals were 94 per cent achieved and those for vegetable production were exceeded (123 per cent). A very clear improvement in the availability of agricultural and livestock products has been demonstrated, and income for the population has been increased due to higher yields, commercialised agricultural production and the revitalisation of production areas,” noted the report team.

The average expected level of grain production (15,000 tonnes/year) was achieved and surpassed in 2017 and 2018 to reach 16,000 and 21,156 tonnes, respectively. With 16,000 tonnes annually, vegetable production surpassed its goals in 2017 (122 per cent) and 2018 (179 per cent).

The project entailed establishment of various types of infrastructure (irrigation projects, including 47 sills (small dams) and 11 mini-dams, water and soil conservation techniques on 3,700 ha, and the construction of 74 wells and 273 km of rural tracks) with the goal of developing and securing agricultural production (on 18,800 ha irrigated and decreasing).

It also supported product commercialisation and, more broadly, improving living conditions of the rural residents involved.

Furthermore, increasing production necessitated accompanying producers to promote and better and more sustainably manage the new infrastructure.

This was done specifically by outreach activities, the construction of 124 agricultural buildings (grain warehouses, animal feed warehouses, seedstock centres), and the promotion of revenue-generating activities for women and youth.

Gender-related issues were considered in most activities undertaken by the project. It specifically emphasized women’s representation in management entities of farmer’s organisations.

In addition, PMERSA-MTZ encouraged the empowerment of women and youth by supplying 1,500 carts, 105 maintenance kits, 15,150 sheep and goats, and 598 miscellaneous equipment (mills, huskers, oil presses, and manioc processing units).

“At its conclusion, the project demonstrated a more than 98 percent achievement rate for its goals, which were revised higher at mid-project. The completion rate greatly surpassed the initial indicators in the evaluation report (240 per cent). The project’s performance was therefore very satisfactory,” the project report added.

Canon: Collaboration with Uganda Press Photo Award our commitment to spotlighting talented photographers

Canon Central and North Africa, a world leader in imaging solutions, is proud to announce its involvement in Uganda Press Photo Awards and its three category awards.

The first award is the Uganda Press Photo Award that invites all Ugandan photojournalists and photographers to submit their best work where they stand to win a CANON EOS 5D Mark IV DSLR which will come with an EF 24-70mm lens.

A statement by Canon said, “Entrants will also have the opportunity to showcase their work in the annual exhibition which features some of the best visual storytellers Uganda has to offer. Participants can submit their images (published or unpublished) in six varied categories: News, Daily Life, Environment, People, Sports & Urban.”

The second award is the East African Photography Award.

This award, according to the statement, is open to citizens of Burundi, Ethiopia, Kenya, Rwanda, Tanzania and Uganda who are invited to share their photo essays documenting and sharing the different realities from various corners of their region.

“The stories submitted should have images working in tandem to create a clear narrative of whichever topic the photographer wishes to focus on,” said Canon.

“The winner of the EAPA will take home a Canon EOS RP with a 24-105mm lens and a lens adapter.”

The UPPA and EAPA will be judged by an international jury composed of photography professionals including Yasuyoshi Chiba, Carielle Doe, Georgina Goodwin, Frédéric Noy, Cynthia Matonhdze, Lekgetho Makola (SA), Benjamin Füglister, Sarah Waiswa, Mallory Benedict, Uche Okpa-Iroha and Paul Boates.

“Furthermore, emerging photographers between the ages of 21 and 28 with an interest in documentary photography are also invited to participate in the Young Photographer Award. Awaiting the winner is a CANON EOS 77D with 18-55mm lens as well as the opportunity to participate in a seven-month mentorship programme and to exhibit their work during UPPA 2021,” Canon added.

The judging panel of YPA judges will include Ala Khier, Annette Sebba, Edward Echwalu, Katie Simmonds, Juliette Garms and Anna Kućma.

Amine Djouahra, Sales and Marketing Director at Canon Central and North Africa, said: “Our collaborations with Uganda Press Photo Award aims to support the development of photography through the recognition of new talent.

“We are very proud to support these kinds of events and to empower winners with a Canon camera. We believe this is an important tool which can be used to develop the winners’ art and creativity to new levels”.

Cloud, AI, 5G reshaping oil and gas industry — Huawei

Huawei says it has successfully hosted online its Oil & Gas Virtual Summit 2020 — exploring ‘Data to Barrel.’

The summit gathered together global customers, industry partners, and thought leaders — including representatives from the Abu Dhabi National Oil Company, Schlumberger SIS, and the former Chief Information Officer of French giant, TOTAL — to share their experiences of helping oil and gas companies increase profits while cutting costs, creating added value through digital transformation.

Key suggestions on how the industry can overcome challenges at this particular point in time, adapting to the new normal of the pandemic and post-pandemic periods, were also explored.

In the first half of 2020, due to the global economic downturn amid the spread of COVID-19, international oil prices fell to a low of 30 dollars per barrel. In May, West Texas Intermediate crude oil futures prices even turned negative, a historically unprecedented event. “Undoubtedly, the oil and gas industry has entered an extremely difficult period and is witnessing changes, the likes of which have not been seen for over a century,” said Huawei in a statement.

David Sun, Vice President of Huawei’s Enterprise Business Group and Director of the Global Energy Business Department, noted that, over the past decade, Huawei partnered customers in the oil and gas industry and together witnessed oil prices peak at $120 per barrel, as well as fall to that low of $30.

Along the way, Huawei’s role has changed — and upgraded — with the support and help of oil and gas companies. Evolving from a vendor that simply provided switches, routers, and network devices, to becoming a full partner dedicated to providing digital transformation solutions, Huawei works with partners and customers alike to jointly promote the application of 5G, Artificial Intelligence, and big data in the oil and gas industry.

The telecommunication firm said it would continue to explore new technologies and applications, where solutions to the current challenges lie.

It explained, “Indeed, using elastic computing, big data analytics, AI, and cloud data centers, Huawei has already helped oil and gas customers achieve digital transformation, promoting the construction of intelligent oilfields and increasing oil and gas reserves.

“Working with partners, Huawei planned and built a computing AI platform for an industry customer, to implement AI training and big data analytics. This has, in turn, led to an increase in both oil and gas reserves and in production. Indeed, solutions have been implemented in various scenarios, including artificial-lift fault diagnosis, well-logging and reservoir identification, and seismic first arrival wave identification, extracting significant value from underutilized — formerly ‘useless’ — data.”

Speaking on the issue, Dr. Mohamed Akoum of ADNOC, said: “In an era of change for industries around the world, ADNOC continues to drive innovation and embed advanced technologies across its value chain to optimize performance, boost profitability and build resilience.”

North Africa Economy to witness ‘unparalleled crisis and a conditional recovery’

The tourism and industrial sectors in North Africa are likely to be hardest hit by the COVID-19 pandemic, according to the 2020 edition of the North Africa Economic Outlook report, published on Tuesday by the African Development Bank.

Faced with an unparalleled crisis, the region’s countries implemented health and budget measures to curb the spread of the virus and protect their populations. The economic slowdown, due to disruptions across several sectors, has had large-scale socioeconomic consequences.

The rapidity with which economic and other restrictions are being lifted in North Africa is raising uncertainty and suggests two distinct recovery scenarios. The first is based on a timeline for emerging from the crisis in July 2020. The second is based on the pandemic lasting through December 2020.

Under the first scenario, regional growth would fall by 5.2 percentage points, resulting in a decline in growth of ‑0.8 per cent. In the second scenario, growth would fall by 6.7 percentage points, leading to a ‑2.3 per cent decline. However, economic recovery is forecast for 2021, with regional growth of between three percent and 3.3 per cent.

The North Africa Economic Outlook 2020 shows that the services, tourism and industrial sectors, which are the main contributors to the regional economy, have been severely affected by the numerous restrictions associated with the COVID-19 response.

The report suggests that the pandemic’s negative impact on global demand and the prices of basic goods is likely to increase fiscal deficits and current account imbalances in the region.

In the worst-case scenario, the fiscal deficit in 2020 could average 10.9 per cent of regional GDP. In 2019, the fiscal balance, estimated at ‑5.6 per cent of regional GDP, exceeded the African average of ‑4.7 per cent.

Regarding the current account balance, North African countries recorded an average deficit of 4.4 per cent of GDP in 2019. Assuming a reduction in global demand of 7.9 per cent and a crude oil price of $20 per barrel, the worst-case scenario suggests a deficit of 11.4 per cent of GDP in 2020.

This situation is attributable mainly to the deficits of oil-exporting countries, 20 per cent and 19.8 per cent of GDP in Algeria and Libya respectively. This is true also of Mauritania (17 per cent) and Tunisia (12.2 per cent), whose main trading partners, China and Europe, are expected to be in recession in 2020.

The report also emphasised the non-inclusive nature of growth in North Africa. Social and regional disparities, already significant, have widened as a result of the pandemic and recommended tackling them by undertaking structural reforms to increase public-sector efficiency and private-sector competitiveness to create more jobs.

The report, therefore, called on North African countries to continue to implement fiscal measures to protect affected households and businesses. The development of the agro-industrial sector is also recommended to promote local agricultural value chains. Further, countries should work toward greater trade openness and integration, in the context of the African Continental Free Trade Area.

AfDB recommended investing in human capital and skills as an essential condition for accelerating economic development.

It said in a statement, “In North Africa, adapting skills to match job opportunities emerging because of the fourth industrial revolution will require coordinated reforms of both education and training systems, notes the report. For workers still in employment, countries should introduce more efficient mechanisms to promote in-work training. Governments could consider providing grants to the private sector to create jobs for young people and women in strategic sectors.

“Finally, the development of the manufacturing sector is a key driver of economic growth, as it provides productive, well-paid jobs for a large number of workers.”

COVID-19 forces British Airways to stop operating B747 aircraft

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British Airways has announced it will retire all 31 Boeing 747-400 aircraft in its fleet after working with the “Queen of the Skies” for 50 years.

The airline said it took the hard decision due to the adverse impact of COVID-19.

In a statement emaied to Financial Street, the airline said, “After nearly five decades of service and millions of miles flown around the globe, it is proposed that the airline’s remaining fleet of 31 747-400 aircraft will be retired with immediate effect as a result of the devasting impact the Covid-19 pandemic has had on the airline and the aviation sector, which is not predicted to recover to 2019 levels until 2023/24.”

The fuel-hungry aircraft were slowly being phased out by British Airways as they reached the end of their working life in order to help meet the company’s commitment to net zero by 2050. The airline has invested in new, modern long-haul aircraft including six A350s and 32 787s which are around 25 per cent more fuel-efficient than the 747.

As part of the airline’s £6.5bn injection into customer experience in recent years, existing aircraft have been refurbished and the brand new arrivals have come into the British Airways’ fleet complete with a luxurious business class Club Suite product.

Alex Cruz, British Airways’ Chairman and CEO, said: “This is not how we wanted or expected to have to say goodbye to our incredible fleet of 747 aircraft. It is a heart-breaking decision to have to make. So many people, including many thousands of our colleagues past and present, have spent countless hours on and with these wonderful planes – they have been at the centre of so many memories, including my very first long-haul flight. They will always hold a special place in our hearts at British Airways.

“We have committed to making our fleet more environmentally friendly as we look to reduce the size of our business to reflect the impact of the Covid-19 pandemic on aviation. As painful as it is, this is the most logical thing for us to propose.

“The retirement of the jumbo jet will be felt by many people across Britain, as well as by all of us at British Airways. It is sadly another difficult but necessary step as we prepare for a very different future.”