The Nation Newspaper

Category: e-Business

  • Interswitch: science, technology, others hold future for economy

    Encouraging student to embrace Science, Technology, Engineering and Mathematics (STEM) subjects would help bridge skills gap in the information communication technology (ICT) sector, a electronic payment and digital commerce firm, Interswitch Group, has said.

    Its Founder & GMD, Mitchell Elegbe, who spoke ahead the hosting of the first edition of the InterswitchSPAK project with a N12.5million-scholarship among other prizes, said when students are encouraged early in their life to pick interest in STEM subjects, they end up designing solutions to societal problems.

    He said the project is the firm’s corporate social responsibility (CSR) initiative that is primarily focused on driving increased interest in the study of STEM subjects among Senior Secondary School students across the country.

    Elegbe said the session would give the students the opportunity to meet real-life models who prove that success is possible, regardless of existing challenges. It will focus on knowledge sharing, as well as motivating the students on character building and assuming leadership responsibilities in all their spheres of contact.

    He said: “The Masterclass is a real experiential window for the students, where they do not only meet successful people who are providing solutions, they are motivated and prepped by these people to begin to develop the right mind set and attitude for leadership and success.”

    He said the initiative is multifaceted-made as it is up of the TV quiz show which includes the Innovation Challenge, the MasterClass, and the InterswitchSPAK volunteers’ week, all targeted at students aged between 14 and 17 years in SS 2 or year 11, as the case maybe. InterswitchSPAK aims to encourage and guide the students on career paths that will help them achieve full optimisation of their potentials and dreams to become innovators and entrepreneurs.

    InterswitchSPAK 1.0. began with a national qualifying examination from which the top 81 students out of the over 11,000 students from various private and public secondary schools across the 36 states of the federation, including the FCT, qualified to compete in the TV quiz show.

    The TV quiz show will be preceded by a masterclass taking place on August 27, in Lagos.  The Masterclass is a full-day of knowledge sharing and engagement sessions where some of the most inspiring and successful men and women in our society will discuss relevant topics with the students.

    It will feature three 45-minute sessions where the qualified students who emerged from the qualifying examinations will be intellectually motivated by high-profile speakers led by Mr. Elegbe,. Also expected to speak at the event are CEO, Stanbic IBTC Holdings Ltd, Mr. Yinka Sanni and MD, Endeavour Nigeria, Eloho Omame.

    Sanni will lead the first session and would be speaking on “Social Innovation – The Power of Transformative Ideas, while Omame will handle the second session titled: ‘Entrepreneurship – A Tool to Creating Impact in Our Society’ and Elegbe will round off the session with the topic: ‘Emotional Intelligence and the Leadership Responsibility of Youths’.

  • The CBN/MTN Fine Issue – Facts v.s Fiction

    The Central Bank of Nigeria announced on Wednesday, 28th August, 2018, that it is imposing sanctions on four (4) banks for facilitating the ‘illegal’ repatriation of capital from Nigeria on behalf of MTN Nigeria and its shareholders.

    This surreptitiously followed the publication of an ‘exclusive’ in Sahara Reporters alleging that  Central Bank Governor, Godwin Emefiele, was reluctant to fine unspecified individuals and corporate bodies other entities for unlawful conduct in respect of repatriation of dividends to offshore shareholders of MTN Communications Nigeria Limited.

    This follows in the heels of a N330 billion fine that was imposed on the Information and Communications Technology (ICT) company by Nigeria’s telecommunication regulator, Nigerian Communications Commission (NCC) in October, 2015.

    The hefty fine has since resulted in a very significant fall in MTN Nigeria’s share price and the timing of the fining, coupled with continuously rising red flags has developed intense speculation as to the veracity of the allegations that have been made.

    This has brought to the fore certain issues that require answers:

    The DSS and National Assembly investigations’ were completed  in 2016 and 2017, what has spurred on the CBN to act at this moment? If the Central Bank of Nigeria  has approved the accounts of these (Standard Chartered, Stanbic, Citibank and Diamond) banks for the last ten years and continued to approve the repatriation of funds by MTN, then could it have knowingly approved transactions it believed to be fraudulent?

    When  did the CBN determine that MTN and the banks were culpable of such ‘illegal conducts’ and what has caused the CBN to allow MTN to repatriate funds since 2015?

    Why do the these infractions cover only the period 2007 to 2015? What conditions changed in 2015? Does this allude to the fact that all MTN dividend and capital repatriation payments since 2015 will be deemed illegitimate or fraudulent? If so, how will that be possible, with the same CCIs issued?

    These niggling questions need to be answered as soon as possible as investor confidence in Nigeria is quickly depleting as a result of the recent actions of NCBN.

  • Samsung to Nigerians: Galaxy Note9 is the best smartphone

    Samsung on Friday introduced its newest flagship Smartphone, the Galaxy Note9  in Nigeria. The Note9 unveiled in Lagos has exciting, and innovative features which are unique and stunning.

    The smartphone dubbed; The Game Changer, was launched with a state-of-the-art S Pen with automatic features and sensory control aesthetics for intelligent camera.

    Speaking at the launch of the Note9, Managing Director, Samsung Electronics West Africa, Mr. Jingak Chung said the Note9 has raised the bar for smartphones performance.

    Mr. Olumide Ojo, Director, Information Technology & Mobile (IM); Mr. Jingak Chung, Managing Director; Mr. Awomodu Olugbenga, Marketing Manager, all of Samsung Electronics West Africa and Bankole Wellington, Samsung Ambassador/Host during the launch of Samsung Galaxy Note9 into the Nigerian market at Samsung Experience Store, Ikeja City Mall, Lagos on Friday.

    “The Galaxy Note9 is a revolutionary smartphone that delivers the ultimate in performance; a new S Pen with connectivity for the first time ever; and Samsung’s most intelligent camera yet. These are just some of the features that will allow users to do so much more. An all day, longer lasting battery is just another reason why. Users can now talk, message, play games and watch movies for as long as they desire. The Galaxy Note9 is bigger, better and so much stronger. For business or play, it’s a game changer,” Jingak said.

    What stands the Galaxy Note9 head and shoulders above all other hand-held devices is the creativity, innovation and a burning desire to match and exceed consumer needs in the world of mobile technology.

    While speaking on the functionality of the phone, Director, Information Technology & Mobile (IM), Samsung Electronics West Africa, Mr. Olumide Ojo explained that a lot of thought had gone into the creation of the Note9, a fascinating addition to the Galaxy family specifically crafted for the busy exec.

    “The S Pen is just one of the ways we have modified our consumer’s user experience. From a classic portable and functional design to a sleek multifaceted power tool, the pen-like device now features a Bluetooth chip that allows the pen function aside of its natural form. With the S Pen, consumers can change slides during presentations, activate their cameras or skip songs on their playlists. The S Pen is truly a modern day magic wand,” Ojo added.

    The Samsung Galaxy Note9 builds on Samsung’s industry-leading camera technologies with new capabilities that use intelligence to identify elements of a photo, such as scene and subject, and adapt accordingly. It can even detect flaws in images to ensure users capture those precious moments exactly how the intended. The result is stunning, life like images with bold colours and dynamic definition.

    With the Samsung Dex, users can effortlessly connect to a monitor with an easy to carry HDMI adaptor, which means they instantly have a big screen, a full-size keyboard and a mouse. It is like having a second screen whenever you want one. Just connect your phone to an external display to use apps, review documents and watch videos on a PC-like interface.

    Users can also look forward to experiencing the largest edge-to-edge display ever on a Note. The 6.4-inch Super Amoled Infinity Display provides a truly immersive multimedia experience. The Samsung Galaxy Note9’s Infinity Display is complemented with stereo speakers, which are tuned by AKG, and have the ability to deliver Dolby Atmos® immersive sound for an audio adventure like no other.

    The Galaxy Note 9 is available in Midnight Black, and Metallic Copper with matching S Pen, or Ocean Blue with a Yellow S Pen. To celebrate the launch, the first customers to purchase the Note9 will get a limited pre-order gifts valued at over NGN 50,000. This welcome pack includes a wireless charger for convenient, fast charging during those heavy-use days; a tripod for S-Pen selfies on which users can effortlessly set up their devices to capture a moment, while the S-Pen does the rest; and the ultra-convenient DeX HDMI cable. In addition, customers will receive a Protective Dome Glass. Packed with innovative features and additional gifts, the Note9 is a device you will definitely want to get your hands on. 

    To purchase the device, customers can visit the network providers, MTN, Airtel, 9Mobile and Glo; Samsung Experience Stores, and select retail partners nationwide. Customers are encouraged to purchase their Galaxy Note 9 only in Nigeria and only from authorized dealers so they can enjoy a 24-month warranty.

  • Cashless Lagos Hackathon for launch in September

    As part of its efforts to educate and enable Nigerians to reduce their reliance on cash, Visa, the global leader in payments, has announced the launch of the Cashless Lagos Hackathon in partnership with Lagos Innovates, an initiative of the Lagos State Employment Trust Fund (LSETF).

    The three-day event, which is scheduled to hold from 14 September until 16 September, will seek to digitize payments for Micro, Small and Medium Enterprises (MSMEs) and will be delivered by Passion Incubator (www.passionincubator.ng). The hackathon is open to software developers, programmers, coders, data specialists and designers who have the capacity to create lasting technology based financial solutions for MSMEs who are beneficiaries of LSETF.

    Participants can access lagosinnovates.ng/hackathon for details on the hackathon and have until 11 September 2018 to submit their applications. Selected applicants will meet with the MSMEs on the first day of the hackathon to understand their pain points before the commencement of the hackathon.

    Through the hackathon, participants are required to come up with solutions that would allow the business owners to receive payments, make bulk purchases and keep inventory of their transactions, thereby allowing access to bank loans and government grants.

    Kemi Okusanya, Country Manager, Visa West Africa said; “This partnership is part of our strategy to help merchants become more financially responsible. What makes this hackathon unique is that it encourages Nigerians to develop locally relevant solutions, tailored for their specific environment and needs. We are always looking to support innovative programmes that can better equip individuals to manage their money more effectively, and these solutions will achieve that.”

    Six teams will present their ideas to the judging panel constituted of representatives from a cross section of business and payments experts drawn from the public and private sectors. Three finalists will be selected based on impact, design, innovation, and customer validation. The winning teams will receive ₦2million, ₦1million and ₦500,000 grants respectively to be used for the development of the solutions, courtesy of Visa.

    Commenting on the partnership, the Executive Secretary LSETF, Akintunde Oyebode said; “We are pleased to have Visa on board with us for the second edition of our Hackathon. Lagos State is the economic capital of Nigeria and the home of Africa’s leading startups. Our partnership with Visa puts us in a unique position to help uncover, support and apply emerging technologies to some of the biggest transaction challenges faced by entrepreneurs. We are excited by the possibility of leveraging technology, especially digital channels to improve our current cash-based economy”

  • Dell Expands Cloud Tech Portfolio of VMware Solutions

    Dell has announced additional capabilities to its broad portfolio of VMware solutions, spanning from the edge to the core to the cloud.

    These new solutions and enhanced integrations are designed to help customers achieve IT transformation goals with a unified, seamless experience across PC and mobile devices, software-defined data centers, hyper-converged infrastructures and multi-cloud platforms.

    According to ESG’s 2018 IT Transformation Maturity Study commissioned by Dell EMC and Intel, 88 percent of IT leaders said their companies are under pressure to deliver products and services faster. This requires having a more agile approach to IT. At many companies, the time it takes for a product or service to go from concept to general availability depends on where a company is on its IT transformation journey A more responsive IT department allows the business to respond more quickly to evolving external customer demands. 

    “From the moment an employee first boots up their device, they’re generating information that can – and should – be used across the enterprise to make smarter, data-driven decisions. When technology infrastructure exists in siloes, businesses can’t outpace competitors, can’t grow, and can’t scale,” said Jeff Clarke, vice chairman, Products and Operations, Dell Technologies. “Working together across the entire spectrum of IT infrastructure, Dell and VMware empower customers to clear unnecessary administrative tasks off IT to-do lists while making users happier and more productive.”

    A ready-to-work experience enabling employees to boot up, log in, and be productive in minutes. Preconfigured apps and settings reduce time and resources associated with manual device imaging, repackaging and shipment. The Dell Provisioning for VMware Workspace ONE service enables automatic device setup and extends the efficiencies of cloud management to configuration and deployment.

    Simplified PC lifecycle management with expanded Dell PC-as-a-Service offerings for more customers and regions, including PCaaS for Business (20 to 300 units) and PCaaS for Enterprise (more than 300 units). Dell offers the latest PCs, deployment options – including Dell Provisioning for VMware Workspace ONE, software, peripherals, lifecycle services and financing – at a single, predictable price per seat per month.  

    Scalability and stability with a consistent foundation from edge to distributed core to cloud with the new Dell IoT Solution for Surveillance, which automates scaling enterprises on day one with customer data, speeding up return on investment.

    Increase workload capacity, performance, scalability and control with the new Dell EMC VxRail G560, which delivers greater density in a 2U form factor. The Dell EMC VxRail G560 outperforms the previous Dell EMC VxRails G Series with 1.75X more cores; 2X increase in processing power; 4X more memory; and 3X capacity increase improvement in the boot device.

    Dell EMC’s Future-Proof Loyalty Program protects customers’ core, edge and cloud investments, now including first-time HCI solution support with Dell EMC VxRail, for a set of advanced technology capabilities and programs that enable Dell EMC solutions to offer value for the entire lifetime of customers’ applications

  • Visa, Stripe, Others Raise $8M for Paystack Startup Growth

    Paystack, a Nigeria-based payments system startup company has raised $8 million in Series A funding from Stripe, Visa and Tencent.

    The startup firm said  the round was led by Stripe, and includes Visa, follow-on funding from Tencent and Y Combinator, as well as angel investors Tom Stafford (Managing Partner at DST Global),

    Others were Gbenga Oyebode (founding partner of Aluko & Oyebode and Board member of MTN Nigeria), and Dale Mathias (Co-founder, Innovation Partners Africa).

    This brings Paystack’s total investment to date to more than $10 million. Existing investors include Tencent, Y Combinator, Comcast Ventures Catalyst Fund, Blue Haven Ventures, and Ventures Platform.

    Within a little over two years, Paystack’s all-African team has grown to process nearly 15% of all online payments in Africa’s largest economy, powering tens of thousands of businesses of all sizes including telcos, airlines, and government agencies.

    Paystack provides powerful APIs to help developers quickly build modern payments experiences online. With only a few lines of code, developers can create custom checkout experiences, build automated recurring billing systems for subscription products, instantly send bulk transfers to any bank account in Nigeria, verify the identity of customers through five different verification APIs, and much more.

    Through the company’s sleek payments interface, customers can pay with local and international cards, or directly from their bank accounts. Paystack also supports localized payment channels, including mobile money, QR code, and USSD payments. Every payment is screened by sophisticated fraud-monitoring systems to protect merchants from chargebacks, and Paystack’s direct bank integrations ensure the highest transaction success rates.

    Beyond payments, Paystack provides businesses with powerful growth tools in the form of a Dashboard that helps them closely monitor and act on every aspect of their business’ performance, from granular transaction error data, to detailed customer insights.

    “As recently as 2015, it was really difficult for a developer or business owner in Nigeria to quickly start accepting online payments,” says Shola Akinlade, CEO and co-founder of Paystack. “We started Paystack because we believe that better payments tools are one of the most important things that African businesses need to unlock their explosive potential. We think of Paystack as an amplifier of the incredible work that African business owners are already doing. With better technology tools, African businesses can be better equipped to play a growing role in the global economy.”

    “The Paystack founders are highly technical, fanatically customer oriented, and unrelentingly impatient,” says Patrick Collison, CEO of Stripe. “We’re excited to back such people in one of the world’s fastest-growing regions.”

    “Africa is central to Visa’s long-term growth strategy, especially when you consider how cash is still a primary payment option for millions on the continent,” says Otto Williams, Head for Strategic Partnerships, Fintechs and Ventures for Visa in Central & Eastern Europe, Middle East and Africa (CEMEA). “Our investment in Paystack aligns with the kind of investments we look for – those that will help extend our reach into the global commerce ecosystem as it changes and grows, and that will provide mutually beneficial business opportunities.”

    Paystack will invest the new round of funding in scaling its engineering team, further deepening its payments infrastructure, and accelerating their expansion across the continent.

    Akinlade adds: “As Paystack looks to expand rapidly across the continent, we’re thrilled to have the benefit of the deep experience of Stripe, Visa, and Tencent. Our ambition is to give African merchants the tools and services they need to go toe-to-toe with the best businesses in the world, and win.”

  • Music star, Davido, is Infinix’s ambassador

    Original equipment manufacturer (OEM) Infinix Mobility, said it has signed one of Africa’s most prolific music artiste, Davido, as its brand ambassador. The firm said it is a demonstration of its commitment to further bridge the gap between itself as a smartphone brand and its youthful target audience,

    The OEM, in a statement, said both brands cater to a young audience and are trendsetters, adding that both brands also draw inspiration from their fans and inspire the future, a dream partnership structured to propel both brands to new heights.

    The story of Infinix and Davido coming together can be likened to a story of a wunderkind whom after global acknowledgement of his potentials is expected to fail but it doesn’t just seem to happen.

    “We have all heard of different ways brand ambassadors have shown their commitment and loyalty to a brand’s course such as wearing branded outfits, attending events orchestrated by the brand and others which are mostly stated in clauses within the contractual agreement between both parties but how about taking it to the extreme such as resuming a 9-5 fulltime job at the brand’s head office?

    “What we termed as impossible has come to fruition as what seemed like a normal day at 3C HUB on July 25, 2018 turned out to be the fateful day unsuspecting fans would see Davido casually walk into the store, move to the Infinix Mobility stand and purchase a brand new Infinix Note 5 device.

    “The sheer astonishment of that sight delighted staff and fans as they all watched Davido carefully unbox a brand-new Note 5 smartphone, power it on and speak on all the unique features of the “Beyond Intelligent” smartphone which range from the 18:9 Infinity display screen, 4500mAh battery that can last 3 days on a single charge to the A.I Camera and Google A.I Voice Assistant that performs tasks seamlessly,” the firm explained in a statement.

    Davido, it said, then proceeded to take selfies with the fans present and in a seemingly hilarious fashion assured everyone that he would be a regular face at the store even though most might have doubted the genuineness of his comments.

    “While we may not be able validate if truly superstar music artiste, Davido has resumed a fulltime job reporting at Infinix Mobility authorised retail store every weekday or the modalities that surround Davido’s supposed work related habitual appearances. One thing is an uncontested fact at this point. Davido would stop at nothing to reaffirm his allegiance to Infinix Mobility as being a brand ambassador is on its own a fulltime job,” the OEM said.

  • Konga unveils back-to-school promo

    As part of efforts aimed at giving its loyal customers the best summer shopping experience, Konga, has put on sale thousands of products from its inventory at unprecedented discounts for its Back to School promotion, which runs between August 27 and September 9.

    The promotion will offer shoppers access to the wide range of products online @ Konga.com and offline in every Konga retail store nationwide.

    Tagged #BacktoSchoolwithKonga, the two-week campaign will see genuine products across multiple categories including mobile phones, laptops and other computing devices such as notebooks, smart printers and Kids tablets, fashion items and accessories, a wide range of Electronics and the best Home and Kitchen appliances from the biggest brands.

    Further raising the excitement for the Konga Back to School campaign is a series of social media activities including quizzes which will pitch parents against their kids, a hashtag campaign that will see lucky winners visit the Konga office for a one-minute shopping fiesta, a photo contest on how kids spent their holidays, with winners getting Back to School essentials and school supplies as well as kiddies and adult games, among others.

    “With #BacktoSchoolwithKonga, we intend to offer not only returning students and other individuals a chance to shop a wide range of essential products for the new school season at amazing prices, we are also making a bold statement with bulk purchases and sweet deals for educational institutions nationwide, corporate organisations, small businesses and other bulk shoppers with flexible payment terms,” disclosed Konga CEO Online, Nick Imudia.

    “In addition, shoppers can enjoy same day delivery on select items for orders placed before 12pm plus flexible payment such as pre-payment and our recently relaunched payment on delivery options, among others. You also enjoy multiple delivery options by K-Express as well as the choice of being able to pick up at any Konga retail store of your choice. Our customers can also walk into any of our stores nationwide and with the help of our staff, order the items not available in-store, then pay and collect when it is delivered at the store or we deliver it at their door-steps,” he said.

    The Konga Back to School campaign is expected to whet the appetite of Konga’s numerous merchants and customers nationwide in anticipation of its year-end campaigns including the Independence Day sales and its much-awaited Black Friday promotion tagged Yakata.

  • TSTV: struggles drained us financially

    Indigenous pay TV service provider, TSTV, has lamented the huge challenges that have hindered it from rolling out services as promised.

    Its MD/CEO, Bright Echefu, expressed appreciation to Nigerians for the show of concern, lamenting that the battle started right from the day the announcement about the brand was made.

    He said: “From the date we announced TSTV, it has been fight all the way. I doubt if a week passed without us quenching one fire or the other. We didn’t anticipate that there would be war. We were also not trained to fight in the arena we were pushed into. The kinds of weapons our enemies would later confront us with showed they had stocked their armoury, waiting for a time like now. We may not have their kind of money, neither their kinds of weapons, ”connections” and networks, but one thing I sure know we had more than them was a determined spirit and a steadfast God.

    “It has not been easy one bit. Our struggles drained us financially and pitched us against all well meaning Nigerians, subscribers and dealers that believed in us. We were wrestled even down to our satellite providers but our God is ever faithful.”

    He however said TSTV is back live and direct but this time under the watch of Abba Father. He said with the successful acquisition of five units of 35.5megahertz (MHz) transponders on NigComSat through its collaboration with Intertel, Federal Ministry of Communications and NigComSat, TSTV can now offer Nigerians the true meaning of video entertainment. “Our TSTV has successfully migrated to Nigeria Communication Satellite. All channels in full HD. No one does that. More channels are being added daily.

    “TSTV management in appreciation to everyone has decided that 45 TSTV premium HD channels will be available for free for another one month as we don’t intend to encrypt the channels now. You can use any dish at all, including the ones you are using for other operators to track NigComSat today and enjoy premium entertainment together.

    “We are now a True Nigerian Brand and we all should support ours. Monitor our progress by tracking your dish to 42.5oE, Frequency 12589, Symbol Rate: 30,000. Polarization: Horizontal. I sincerely appreciate all your concerns and prayers for our darling TSTV,” Echefu said.

  • Reps: NITDA Act anachronistic

    The instrument that give legal teeth to the National Information Teleology Development Agency  (NITDA ) has become obsolete and requires a thorough legislative overhaul,  the House of Representatives said yesterday  in Lagos.

    Speaking during a working visit to the Nigerian Computer Society (NCS), Chairman, House Committee on Information Technology, Hon Onawo Mohamned Oguchi,  said the NITDA Act requires review.

    According to him,  the law confers more regulatory responsibilities on the agency than supervisory and developmental.

    He said the law would be fine tuned to give the agency more room to oversee the development of the ICT industry in ther country.

    He lamented the multiplicity of committents in the legislative arm, especially in the ICT sector, adding that there was need for collaboration between the industry and the legislative arm of government.

    Shedding more light on why the review of NITDA Act had remained a wishful thinking, the President,  Information Technology Systems and Security Professionals (ITSSP), Rogba Adeoye, said any amendment to the Act would be impossible if the board of the agency was not constituted.

    ITSSP is a group within the NCS which is purely an advocacy group of computer professionals.

    Adeoye lamented that for over three years, the execurive arm of government refused to constitute the board of NITDA,  a development has been slowing down the progress of the agency.

    He urged the National Assembly to review the provision of Cybe crime Act 2015 that excluded members of the NCS from the board.

    He also urged the committee chair to look into the law that makes the Office of  the National Security Advisor  (ONSA) the seat of the law, adding that it scares people.