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Huawei set to boost Nigeria’s ICT market

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Huawei set to boost Nigeria’s ICT market

An Information and Communication Technology company, Huawei, says it is poised to boost the ICT market in Nigeria.

The Chief Executive Officer, Huawei Enterprise Nigeria, Tank Li, said on Thursday in a statement that the company would achieve this through intensified partners’ relationship.

Li said that the world had reached an age of rapid advancements in ICT innovation solutions, with technologies such as 5th Generation network, Artificial Intelligence, Internet of Things, and cloud computing becoming the new reality.

He said that Nigeria being the largest ICT market in Africa would benefit from partnership with Huawei.

According to him, in order to deepen its channel partners’ relationship and boost Nigeria’s ICT market, the company organised the ‘Huawei Nigeria Eco-Connect 2019’.

He said, “As a leading global provider of ICT infrastructure, Huawei is committed to helping enterprise organisations expand the boundaries of their businesses.

”Huawei is committed to help them find routes to new growth, to explore innovative technological solutions and build new business opportunities,” he said.

Li said that Huawei would deepen its investment in Nigeria to ensure the continuous growth of ICT in the country.

He said that the company’s channel partners in Nigeria had increased, showing the great confidence that Huawei put in the country.

He added, “Nigeria is still the biggest economic entity in the African continent, and Huawei aims to enhance its relationship with its partners to further develop the Nigerian market.

“In our enterprise business, our core value is really to build an ecosystem with our partners together.

“In 2019, we will raise our connection with the partners ecosystem and we will call it ‘Huawei Insight’; that means we will enlarge our collaboration with all the partners. Our partners are the most important platform.

According to him, Huawei is willing and ready to share the profit with its local partners for a sustainable ecosystem, where all partners can grow together.

Li said creating value for customers was the only way for Huawei to guarantee its value, as the company’s success depended on the success of the customers.

The Vice President, Huawei Cloud Business Unit, Mr Edward Deng, announced the availability of ‘Huawei Cloud’ in Nigeria, offering commercial services.

Deng described Africa as one of the most diverse and promising emerging markets globally, with tremendous potential.

He said cloud services were expected to unleash the latent capacity and drive the growth in the country.

He said, “We are looking forward to Huawei Cloud’s innovative technologies and services, such as cloud computing and artificial intelligence.

Deng said, “These will assist African and, by extension, Nigerian governments, carriers and enterprises in a variety of industries such as finance, energy, agriculture, to leapfrog to a fully-connected, intelligent era.

“Looking to the future, Huawei promises to continue to work with its partners to enable the digital transformation of all industries.

“Huawei’s big mission is to bring digital to every person, home and organisation for a fully connected, intelligent world.”

 

READ ALSO: Nigerian govt unveils app to drive ease of doing business

Carrot.ng emerges only Nigerian startup on UN’s shortlist

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Carrot.ng emerges only Nigerian startup on UN’s shortlist

For its outstanding innovation, Carrot.ng has been shortlisted by the United Nations’ World Summits Awards as one of the ‘40 Most Innovative Startups’ in 2018.

The company, which was shortlisted from among 400 companies that participated in the competition from all over the world, is the only Nigerian startup on the list.

The founders of Carrot, Luqman Balogun and Odunayo Williams, expressed delight at being shortlisted for the prestigious awards which came up in Cascais, Portugal, between March 11 and 13, 2019.

In a statement made available to journalists, Balogun and Williams said the shortlist proved that Carrot offered unique services capable of solving inheritance challenges.

“Estate planning is a very serious issue in Nigeria as most of us would have experienced the negative impact, especially on women and children, when our parents, family members, friends, colleagues, etc, die intestate (without a Will).

“We can reasonably deduce that intestacy accounts for about $10bn ‘trapped’ in dormant accounts, treasury bills, unclaimed dividends, unclaimed insurance policies, pension funds, NHF, NSITF, etc, in the financial system. You will also agree that getting a letter of administration is not a ‘walk in a park’, “ the statement read.

It added, “Carrot.ng is here to correct this narrative and we have simplified access to writing a Will online. It is convenient, affordable and secure. Between 10 and 15 minutes, your Will is completed and Carrot.ng will deliver the document to your home or office as well as process at Probate after execution. Everyone over 18 years old must have a Will irrespective of your  societal status, religion or tribe.”

The company encouraged Nigerians to protect their legacies and cautioned them to prepare for uncertainties.

“Life is so full of uncertainties; hence, there is a need to consider having an estate plan to mitigate expected and unexpected challenges associated with securing the financial future for your loved ones.

“Putting in place a valid Will offers adequate protection of your legacies, especially for those you truly love should the need arise. An estate plan helps you realise the famous saying of ‘what we do in life echoes in eternity,” it said.

It added, “Carrot.ng helps you to create, update and schedule execution of your Wills and or other testamentary instruments such as Deed of Gifts, Living Wills, Trusts and Power of Attorney, etc, on a convenient, affordable and secure platform in real time, anywhere.

“For a one-time fee, you can become a subscriber, create a valid Will in few minutes, and we process at Probate and have it delivered to your desired location. All our subscribers are also rewarded with a free Personal Accident Cover and Medical Expense Cover from our insurance partners.”

Afreximbank urges SMEs to access finance through factoring

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Afreximbank urges SMEs to access finance through factoring

The African Export-Import Bank has urged all African Small and Medium-scale Enterprises to engage in factoring as a viable and sustainable solution to address the challenge of access to financing for their businesses.

This is contained in a statement issued on Tuesday by the Director and Global Head of Communications and Events Management at Afreximbank, Mr Obi Emekekwue.

Emekekwue quoted the Managing Director, Intra-African Trade Initiative at Afreximbank, Ms Kanayo Awani, as saying that poor engagement of factoring had hindered the growth of Africa’s SMEs.

Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable to a third party at a discount.

A business will sometimes factor its receivable assets to meet its present and immediate cash needs.

Awani said that factoring was an important alternative to other trade financing sources such as bank loans.

She wondered why SMEs in most African countries were shying away from this as Africa accounted for less than one percent of global factoring volumes in 2017 in spite of its huge opportunities.

According to her, the factoring volumes of 22.3 billion euros as at 2017 are engaged by SMEs in South Africa, Tunisia, Morocco, Egypt, Mauritius and Kenya.

She said that Africa’s factoring volumes were projected to reach about 200 billion euros by 2021, resulting mostly from new market entrants supported by the sustained economic growth and the rapid rise of Africa’s middle class.

Awani said, “Other factors that could raise factoring volumes include the emergence of innovative industries supported by technological advancements; rapidly expanding trade and economic relations between Africa and major economies in the South; and increasing focus on regional integration and intra-regional trade under the African Continental Free Trade Agreement.

“Afreximbank has facilitated the growth of factoring in Africa through various interventions, including supporting the creation of a facilitative legal and regulatory environment for factoring.

“It has provided finance and guarantees to factoring companies; provision of technical assistance; and formation of strategic partnerships to promote the development of factoring.”

Afreximbank is a pan-African multilateral financial institution devoted to financing and promoting intra- and extra-African trade.

The institution was established in October 1993 by African governments, African private and institutional investors and non-African investors.

Since 1994, it had approved more than $67bn in credit facilities for African businesses, including $7.2bn in 2018, according to the statement.

Afreximbank has a total asset of $11.9bn as at December 31, 2017, and is rated BBB+ (GCR), Baa1 (Moody’s) and BBB- (Fitch).

READ ALSO: Why I left a lucrative telecoms job to cook soups – Itoro Effiong-Bright

Nigerian govt unveils app to drive ease of doing business

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Nigerian govt unveils app to drive ease of doing business

The Presidential Enabling Business Environment Council has inaugurated an official public service feedback and complaints platform,  called ‘REPORTGOV.NG App’, to support business climate reforms implemented by the council since 2016.

The Senior Special Assistant, Industry, Trade and Investment to the President, Office of the Vice President, Dr Jumoke Oduwole, made the announcement on Friday in Abuja.

She said the platform would facilitate the escalation and resolution of issues encountered with Ministries, Departments and Agencies of government towards ensuring a more business-friendly environment.

Oduwole said the app was co-launched by the Minister of Industry, Trade and Investment, Dr Okey Enelamah; the Chairman, Financial Reporting Council of Nigeria, Mr Adedotun Sulaiman at the Regulatory Conversations event.

She said the theme of the event was ‘Improving Transparency and Ease of Doing Business in Nigeria’.

She said the programme featured a panel of discussants and stakeholders from the public, private sector and civil society, with a focus on issues bordering on transparency and efficiency of service delivery in Nigeria.

Oduwole said, “PEBEC was established in July 2016 to remove delays and restrictions that come with doing business in Nigeria, and make the country an easier place to start and grow a business.

“Supported by Executive Order 001 signed in 2017 to promote transparency and efficiency in the business environment, PEBEC has undertaken to drive EO1’s six directives, which aim to address specific limitations identified in the civil and public service systems.”

She said so far, a high level of success across several areas had been recorded, and MDAs had made significant improvements.

Oduwole said, “Many have taken up the challenge to deliver more transparent and efficient services to their customers in alignment with EO1, with a number of notable milestones achieved.

“EO1 has been acknowledged as one of the Federal Government’s most innovative strategic initiatives to deliver quick, pragmatic changes in the doing business environment.”

She said EO1 sought to drive domestic and foreign investment that would created employment and stimulate the econom by aspiring to overcome the lack of trust in public systems.

Oduwole said that when fully implemented, EO1 would transform the way the Federal Government and its MDAs serve the business community and the public at large, describing it as a blueprint for fundamental government reform in Nigeria.

According to her, the REPORTGOV.NG mobile app is available on the Google Play store, and is coming soon to the iOS store to enable users to give feedback or complaint that will drive continuous improvement in service delivery and public protection efforts.

 

Genesis Christian Academy: Setting the trail for excellence

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Genesis Christian Academy: Setting the trail for excellence

South Africa’s woman of steel Sponsored by Mastercard

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South Africa’s woman of steel Sponsored by Mastercard

https://www.facebook.com/CNNAfrica/videos/535699740252208/

Meet the Nigerian farmer growing crops in the air

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Meet the Nigerian farmer growing crops in the air

https://www.facebook.com/CNNAfrica/videos/277351196465045/?v=277351196465045

50,000 Indians doing business in Nigeria, says envoy

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50,000 Indians doing business in Nigeria, says envoy

The Indian High Commissioner to Nigeria, Mr Abhay Thakur, has said 50,000 Indians, comprising professionals, investors, medical doctors and educationists, among others, are doing business in Nigeria.

Thakur described India as Nigeria’s largest trading partner globally with bilateral trade between both countries at nearly $12bn, with Indian companies investing in projects worth $10bn.

He said, “India has contributed meaningfully to Nigeria’s economy and growth wherever it can.

“India is the largest functioning democracy in the world at 1.3 billion people with an electorate of 900 million and Nigeria is the largest democracy of Africa. This is something that really brings us together.”

 

READ ALSO: https://bit.ly/2O7XwOL

Huawei to host entrepreneurs on improving business results

Africana Entrepreneur
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Huawei to host entrepreneurs on improving business results

In a bid to improve business growth in Nigeria, Huawei will host a business-connect for entrepreneurs on Tuesday, March 19, 2019, in Lagos.

According to a statement signed by the Managing Director, Huawei Nigeria Enterprise Group, Mr. Tank Li, the Huawei Nigeria Eco-Connect 2019 will enable business owners to learn how to grow their businesses using the Information and Communications Technology.

The statement read, “Accelerating digitalisation is deepening the convergence of physical and digital worlds. New ICT represents not only new technologies and platforms but also a new ecosystem, making it a cornerstone of industrial digitalisation.

“Huawei is a leading global ICT infrastructure provider. In line with our open, cooperative, and win-win principles, Huawei has teamed up with its partners and developers to explore the road to digital transformation and create business success for customers by maximising Huawei’s robust ICT capabilities.”Li said that the summit would also enable business owners to express their concerns.

“We will be showing you how Huawei solutions will improve your business results. Together with our partners, Huawei will demonstrate IP, IT, Cloud Communication Solutions and more.“We welcome the opportunity to exchange ideas and work together to further develop a new, healthy and sustainable ICT ecosystem,” he said.

The Huawei managing director said, “We would be delighted to have you present at the summit to listen to your concerns and challenges as well as to share with you our visions and trends.”We appreciate your continued support for Huawei’s enterprise products and solutions and look forward to hosting you at our flagship event.

”He added, “Leading Industry experts will present a variety of keynote addresses on the trends of new ICT and business innovations driven by digital transformation.”

Jumia to become first African startup on NYSE

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Jumia to become first African startup on NYSE

 

Jumia, an e-commerce company based in Nigeria, may become the first African start-up to be listed on the New York Stock Exchange.

Jumia says it could go public next month, the BBC reported on Wednesday.

The company, which was given a $1bn valuation in 2016, offers a range of online goods and has branched into food delivery, hotel and flight booking and mobile tariffs.

It had four million active consumers at the end of 2018.

The online retailer was founded in Lagos by two French entrepreneurs in 2012 and now offers services to most of the African population, in countries such as South Africa, Tanzania, Egypt and Ivory Coast.

Its largest shareholder is MTN, Africa’s biggest telecoms company.

No share price or valuation has been given but there is speculation Jumia could be valued at $1.5bn, despite the fact that it reported a loss of 170m euros ($192m) in 2018.

In documents filed in New York, Jumia warned it could not guarantee achieving or sustaining profitability in the future, citing challenges such as a robbery at its Kenyan warehouse, which saw merchandise worth $560,000 stolen.

 

READ ALSO: Glory days of Nigeria’s textile industry in focus amid CBN fillip

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