TechPression

Category: Entrepreneurship

  • Analysing Mastercard’s $200 million Investment in MTN Fintech

    Analysing Mastercard’s $200 million Investment in MTN Fintech

    Mastercard’s recent investment of $200 million in MTN Fintech, a subsidiary of Africa’s leading telecommunications company, MTN Group, marks a significant milestone in the financial technology landscape. 

    This strategic move not only underscores Mastercard’s commitment to advancing digital payments but also signals a potential transformation in the fintech sector across Africa.

    Strengthening Digital Payments Infrastructure:

    Mastercard’s investment in MTN Fintech aims to bolster digital payments infrastructure across Africa. With a focus on expanding access to financial services in underserved communities, this partnership has the potential to bridge the gap between traditional banking systems and the unbanked population. By leveraging MTN’s extensive reach and Mastercard’s expertise in payment solutions, the collaboration is poised to accelerate financial inclusion and empower millions of individuals with access to secure and convenient digital payment platforms.

    Read also: MTN signs $5.2billion MoU with Mastercard

    Moreover, the infusion of $200 million into MTN Fintech signifies a vote of confidence in Africa’s burgeoning Fintech ecosystem. It highlights the region’s growth potential and underscores the importance of investing in innovative solutions that cater to the unique needs of African consumers. As digital payments continue to gain traction across the continent, Mastercard’s strategic investment paves the way for the development of robust financial infrastructure that can drive economic growth and prosperity.

    Fostering Innovation and Collaboration:

    The partnership between Mastercard and MTN Fintech is not merely transactional but reflects a commitment to fostering innovation and collaboration within the Fintech industry. By combining Mastercard’s global network and technological prowess with MTN Fintech’s local knowledge and market insights, the two companies can co-create solutions that address specific challenges faced by African consumers and businesses.

    Furthermore, the investment aligns with Mastercard’s broader strategy of supporting fintech startups and scaling innovative payment solutions worldwide. By providing financial resources and strategic guidance, Mastercard can help catalyze the growth of MTN Fintech and empower it to drive meaningful change in the African financial landscape. This collaborative approach not only benefits both companies but also contributes to the overall development of the fintech ecosystem, fostering a culture of entrepreneurship and innovation across the continent.

    Advancing Financial Inclusion and Economic Empowerment:

    At its core, Mastercard’s investment in MTN Fintech is driven by a shared vision of advancing financial inclusion and economic empowerment in Africa. By democratizing access to digital financial services, the partnership has the potential to uplift millions of individuals and businesses, enabling them to participate more fully in the digital economy.

    Moreover, by digitizing payments and expanding access to credit and savings products, Mastercard and MTN Fintech can help unlock new opportunities for economic growth and development. From smallholder farmers and micro-entrepreneurs to urban dwellers and migrant workers, the benefits of enhanced financial inclusion are far-reaching, touching every aspect of society.

    Mastercard’s $200 million investment in MTN Fintech represents a significant step forward in advancing digital payments and financial inclusion across Africa. Through strategic collaboration, innovation, and a shared commitment to empowerment, Mastercard and MTN Fintech are poised to shape the future of fintech in the region and drive sustainable economic growth for years to come.

  • Teraco to power data centres with renewable energy

    Teraco to power data centres with renewable energy

    Teraco, a digital realty company and Africa’s largest interconnection hub and vendor-neutral data centre provider has announced a groundbreaking project to build a 120MW utility-scale solar photovoltaic (PV) energy facility in the Free State province of South Africa. 

    The project will enable Teraco to power its data centres across the country with clean and reliable energy, reducing its carbon footprint and enhancing its sustainability.

    The project is made possible by securing the first grid capacity allocation from Eskom, the state-owned electricity utility, which allows Teraco to connect its planned 120MW solar facility to the national electrical grid. The power generated will be wheeled across Eskom and municipal power networks to Teraco’s facilities in Johannesburg, Cape Town, and Durban.

    Read also: Teraco unveils plans for 30MW expansion in SA

    “This allocation is a significant step towards meeting our renewable energy ambitions and those of our clients. It is also only the first phase of our longer-term renewable energy commitment. We have been on a long journey over the last few years to obtain these approvals, and our aim now is to execute quickly on the opportunity,” says Jan Hnizdo, CEO at Teraco.

    Addressing energy challenges and powering digital transformation

    The project comes at a time when South Africa is facing various energy challenges, such as load shedding, rising tariffs, and environmental concerns. By investing in renewable energy, Teraco aims to meet its near-term renewable energy goals while adding additional power capacity to a generation-constrained grid. This will also reduce its dependence on fossil fuels and lower its operating costs.

    “This will be a unique approach in Africa since Teraco will not only own its data centre facilities but also a significant renewable energy source with which to power them, creating a sustainable energy path to support growth. This initiative aligns with Teraco’s long-term vision of powering digital transformation across Africa. South Africa’s solar resource is a source of competitive advantage for data centres relative to other locations,” Hnizdo adds.

    Teraco is the leading provider of highly resilient, vendor-neutral data environments in sub-Saharan Africa, offering customers access to a network-dense ecosystem of over 300 cloud, content, and network providers. Teraco is majority-owned by Digital Realty, a global leader in data centre solutions, with a continuing interest maintained by a consortium of private equity investors.

    Achieving 100% clean energy goal and partnering with JUWI and Subsolar

    When fully operational, the 120MW solar PV plant is expected to produce more than 338 000MWh annually, enough to power over 100,000 households. “This PV project represents a massive component of our plan to achieve our 100% clean energy goal,” says Bryce Allan, Head of Sustainability at Teraco. “In addition to this project, over the past two years, Teraco has deployed approximately 6MW of roof-top solar integrated into its facilities, and this is to be increased to 10MW as new facilities become operational.” As part of construction design, Teraco facilities are built to maximise their solar yield potential.

    Teraco has partnered with JUWI Renewable Energies South Africa and Subsolar to develop the 120MW solar PV plant, with JUWI appointed to design and manage the procurement, construction, and commissioning. In a first for Teraco, a green loan has been raised to finance the building of the plant. Choosing the right partners has been crucial to delivering on Teraco’s renewable energy strategy and vision.

    Africa Data Centre constructs largest Data facility in West Africa

    Wheeling renewable energy across electrical grids

    Wheeling renewable energy across electrical grids is a novel concept that enables power to be moved from a renewable energy producer in outlying areas via existing transmission and distribution systems to end-users located in urban areas. It also enables the deployment of renewable energy projects to areas with high energy yield to maximise renewable energy generation potential.

    Teraco’s project is expected to be a catalyst for more renewable energy projects in South Africa and the continent, as well as a model for other data centre operators to follow. By harnessing the power of the sun, Teraco is demonstrating its commitment to a greener and more resilient future for Africa’s digital economy.

  • Endeavor Kenya announces 10 entrepreneurs for ScaleUp program

    Endeavor Kenya announces 10 entrepreneurs for ScaleUp program

    Endeavour Kenya has announced ten startup founders who will participate in the first-ever Endeavour ScaleUp Programme.

     This programme hopes to help high-growth start-ups figure out how to scale by providing them with connections and tools. The programme aims to support the growth of start-ups that already have a product and are operational.

    The Endeavour ScaleUp methodology will be made available to the ten selected entrepreneurs. This approach makes use of seasoned businesspeople as mentors, comprehensive programmes for company growth, assistance with capital raising, and a robust community of like-minded peers who have all achieved great success in business.

    Read also: Exness expands its Fintech Scholarships program to Kenya

    Selected start-ups will be given the opportunity to accelerate their business growth and potentially become the next Endeavour Entrepreneurs, according to Ms Maryanne Ochola, the Managing Director of Endeavour Kenya. Companies in the growth stage absolutely need to participate in the Endeavour ScaleUp programme. 

    Selected entrepreneurs will gain tremendously from the program’s training and development opportunities, which will centre on cutting-edge technology, business strategies, and leadership. Along with taking their businesses to the next level, they’ll have the opportunity to network with seasoned entrepreneurs who can provide invaluable advice and guidance.

    About selected businesses

    Here are the businesses that are part of Endeavour Kenya’s ScaleUp initiative:

    George Jabesh founded Nakama-Tech, which provides cutting-edge solutions for businesses to increase sales, customer retention, and happiness. They prioritise inclusivity by linking diverse individuals to employment opportunities through their versatile Omnichannel software, which guarantees scalability and ease of use.

    ZenDawa, co-founded by Wilfred Chege, is a groundbreaking B2B SaaS platform changing the pharmaceutical industry’s game. Redefining the landscape for efficient operations and online sales, ZenDawa empowers pharmacies with Tele-pharmacy services and embedded finance solutions.

    Rebecca Harrison founded AMI, which provides training and practical tools to African businesses, enabling them to grow. Their tool-based learning approach has produced outstanding outcomes, with businesses witnessing notable boosts in revenue and noticeable effects from management training right away.

    Using their SengaOS platform, Senga (founded by June Odongo) is revolutionising supply chains and logistics for Africa’s formal retail sector. The retail landscape is being transformed, and the path for more efficient operations is being paved by the rapid adoption and real benefits.

    Bonga is an all-inclusive B2B SaaS Omni-Channel Customer Support Tool developed by Dial Afrika (founded by Japheth Dibo) to solve the communication problems faced by small and medium-sized businesses (SMBs) in Africa. Bonga facilitates growth and connection by allowing companies and customers to communicate effortlessly.

    Kenya’s Baobab Network funds Moroccan logistics startup Colis.ma

    The agriculturally-based startup Satao (Founder: Javin Hutchinson) is improving sustainability in a variety of industries. Sonia Kabra and Wycliffe Omondi founded BuuPass, a digital marketplace that is changing the face of long-distance transport in Africa. The company is primarily concerned with the bakery segment, but it is also working to improve the health of the African diet and to encourage sustainability in the agricultural value chains. Travellers can now book intercity bus, train, and flight tickets online through their platform, which digitises operations and enhances accessibility and convenience.

    Pezesha (Founder: Hilda Moraa) – Pezesha promotes equitable access to formal financial services and drives financial inclusion in Africa by linking small and medium-sized enterprises (SMEs) with working capital through a collaborative digital platform.

    Shega (Founder: Anteneh Tesfaye) – Shega helps organisations make better decisions and be more effective in ever-changing environments by providing them with curated data and intelligence. The company primarily targets emerging markets and the financial sector.

  • Unveiling the Apple Vision Pro

    Unveiling the Apple Vision Pro

    The Apple Vision Pro, unveiled in June 2023, is Apple’s first foray into spatial computing, aiming to blend the digital world with the physical seamlessly. Here’s what we know about this innovative device:

    Key Features

    The Apple Vision Pro, unveiled in June 2023, marks a significant leap forward in human-computer interaction. This innovative device introduces spatial computing, which allows users to interact with digital content in a three-dimensional space using their eyes, hands, and voice. Imagine manipulating virtual objects floating in front of you or navigating virtual environments as if you were physically present. It opens up possibilities, from revolutionising education and design to redefining entertainment and gaming experiences.

    Beyond the transformative nature of spatial computing, the Apple Vision Pro boasts several other impressive features. The 3D camera captures stunning photos and videos with incredible depth and perspective, allowing you to relive cherished moments with immersive Spatial Audio that makes you feel like you’re back in the scene. 

    Read also: Apple explores Artificial Intelligence, Introduces Ajax and “Apple GPT”

    In addition, familiar apps like Safari, Photos, Music, and Messages are transformed to adapt to the three-dimensional space, creating a more intuitive and engaging experience. A dedicated app store features groundbreaking apps built explicitly for the VisionOS operating system alongside compatible iPad and iPhone apps, further enriching the possibilities. Voice control integration adds a futuristic touch, allowing hands-free device interaction.

    While the Apple Vision Pro represents a glimpse into the future of technology, it’s essential to consider its potential drawbacks and limitations. The high price tag, the learning curve in utilising its advanced features, and privacy concerns regarding data collection might deter some users. 

    Information about the rumoured cooking module accessory must also be available, including its functionalities and specifications.

    Ultimately, the Apple Vision Pro is a groundbreaking device with the potential to revolutionise how we interact with technology. However, carefully considering its benefits and drawbacks is crucial before deciding, as its high-tech features might only be suitable for some.

    Potential Drawbacks

    While the Apple Vision Pro boasts impressive features, it has potential drawbacks, which are essential to consider before deciding.

    The high price tag is a significant barrier for many users. As an early adopter of technology, the Apple Vision Pro is expected to come at a premium cost, making it an investment primarily suited for tech enthusiasts and those willing to pay for the cutting-edge experience.

    Navigating the three-dimensional space and utilising the advanced features might require a learning curve. Users accustomed to traditional displays and interaction methods might need time to adjust and learn the new functionalities and controls the Apple Vision Pro offers. This feature could discourage users who prefer a more plug-and-play experience.

    Privacy concerns are also a valid consideration for some users. Sharing data with the AI system and voice assistant raises questions about data collection and usage practices. Users prioritising data privacy might hesitate to invest in a device that collects such information.

    Furthermore, information about the rumoured cooking module still needs to be improved. While the AI suggests recipes, some users might need help finding the limited recipe options appealing or tailored to their specific culinary preferences. 

    Moreover, the uncertain functionality of the cooking module, including temperature control and capacity, raises questions about its overall effectiveness and practicality.

    Considering these potential drawbacks, It is essential to thoroughly consider the advantages and disadvantages before determining whether the Apple Vision Pro is suitable for your needs, preferences for technology, and budget.

    In a Nutshell

    The Apple Vision Pro represents a bold step towards the future of human-computer interaction. It offers a glimpse into a world where the digital world seamlessly integrates with the physical, blurring the lines between reality and augmented experiences. 

    However, the high price tag, potential learning curve, and privacy concerns might deter some users.

    It’s crucial to weigh the positives and potential drawbacks, considering your needs, budget, and technological preferences before deciding. The Apple Vision Pro might be a game-changer for those seeking cutting-edge technology and a truly immersive experience, but some might have better choices.

    Additionally, It’s important to remember that the information about the cooking module is based solely on rumours and leaks and should not be taken as fact. Apple has yet to officially confirm its existence, functionalities, or inclusion with the Apple Vision Pro. Therefore, any potential drawbacks or limitations mentioned regarding the cooking module are purely speculative at this point.

    Apple launches a 4.15% savings account

    Moreover, since its June 2023 announcement, there have been no noteworthy updates or announcements concerning the Apple Vision Pro’s debut date or specifications. This lack of recent information adds to the uncertainty surrounding the device and its potential availability.

    It’s crucial to stay updated with official announcements from Apple to gain a clearer picture of the Apple Vision Pro’s features, release date, and pricing before purchasing.

    Remember that in-depth investigation beyond this data is advised before making any purchases.

  • She Code Africa secures grant from FedEx to train African women in tech

    She Code Africa secures grant from FedEx to train African women in tech

    One of the biggest express transport companies in the world, FedEx, has donated money to She Code Africa so that 100 women in Africa can get their tech careers off the ground.

     As part of this support, participants will learn tech skills, get career guidance, access resources, and maybe even have the chance to intern.

    Cohort 1 of She Code Africa Academy Programme is about to begin, thanks to an inspiring initiative and a partnership with FedEx. SCA is a leading voice in the African tech industry. One hundred African women, ranging in age from 18 to 45, will be empowered in the fields of software engineering, product design, and product management through this 12-week intensive programme that will run from April to June 2024. The application period for its inaugural class has begun.

    Read also: Tech boom empowers northern Nigerian women

    The Impact She Code Africa has made

    She Code Africa is an organisation that aims to support, encourage, and empower women in Africa who are working in the tech industry. The group has collaborated with FedEx to launch this programme, adding to its history of impact-driven initiatives.

    Across 20 African countries, She Code Africa has engaged a community of over 40,000 members, empowered over 64,040 girls and women through various events and activities, and provided free training to over 7,000 individuals through academy training and scholarship programmes.

    The managing director of FedEx Express Sub-Saharan Africa Operations, Natasha Parmanand, stated that FedEx is dedicated to ensuring everyone has equal opportunity. By partnering with She Code Africa, they can empower women in STEM to enhance workplace dynamics further and shape a brighter future. By working together, they are reiterating their belief that gender equality can only be advanced through ongoing change and improvement in the areas of diversity, equity, and inclusion.

    Academy participants will have the rare chance to study software development as well as product design and management through She Code Africa’s School of Engineering and the School of Product.

    What the program offers

    This groundbreaking programme provides a versatile, online learning environment, allowing women from all over Africa to participate, no matter where they are. By gaining access to a supportive community, mentorship, and expert tutoring, participants will be empowered to launch successful careers in the tech industry.

    Seedstars launches program for women startups

    There is a lot more to learn than simply theory in the She Code Africa Academy Programme. With the help of technical tutors, career mentors, and available resources, it creates a dynamic learning environment. An exclusive opportunity awaits the most outstanding students in each track: a paid internship with the She Code Africa team for one month, during which they will work on engineering products and platforms with a social impact focus.

    With the goal of eliminating gender inequality in technology, She Code Africa is reaching out to diverse groups of African women. The Academy Programme aims to provide participants with the self-assurance and competence they need to succeed in the dynamic technology industry.

    The programme is set to begin in April 2024 and end in June of the same year. Submissions will be accepted beginning Monday, February 26, 2024. We are looking for African women who are enthusiastic about technology to apply. Get all the details and apply at shecodeafrica.org.

  • New iPhone16 suggests high battery capacity

    New iPhone16 suggests high battery capacity

    With the iPhone 16 leaks making headlines, anticipation for Apple’s latest smartphone release is at an all-time high. 

    Among the plethora of leaked details, one aspect that has caught the attention of tech enthusiasts is the reported battery capacities. Let’s delve into the revelations provided by analyst Majin Bu and explore the potential implications for Apple’s upcoming flagship lineup.

    Battery Capacity Details

    According to Majin Bu’s analysis, the iPhone 16 series will feature notable upgrades in battery capacity compared to its predecessors. The leaked information indicates that the standard iPhone 16 will house a 3561 mAh battery, while the larger iPhone 16 Plus will boast an even more substantial 4006 mAh capacity. The iPhone 16 Pro Max takes the lead with an impressive 4676 mAh battery for power users seeking maximum endurance.

    Read also: Accessing iPhone 15, iPhone 16: 15+, upgrades 

    Comparison with Previous Models

    A point of intrigue lies in comparing these reported capacities with those of the iPhone 15 series. Surprisingly, while the iPhone 16 and iPhone 16 Pro Max offer slight capacity gains over their predecessors, the iPhone 16 Plus appears to buck the trend with a reduction in capacity by approximately 9%. This shift raises questions about Apple’s strategic choices and their impact on overall device performance.

    Speculation on iPhone 16 Pro

    Amidst the leaked details, the battery capacity of the iPhone 16 Pro remains shrouded in mystery. The absence of concrete information leaves room for speculation among industry insiders and consumers alike. Will the iPhone 16 Pro follow the trajectory of its counterparts, 

    or will Apple introduce unique features and specifications to differentiate this model?

    Concerns about Battery Life

    While increased battery capacities may signal improved endurance, concerns linger about the practical implications for everyday usage. The reduced capacity of the iPhone 16 Plus, in particular, raises questions about its longevity and performance under varying usage scenarios, including gaming and professional applications.

    Apple’s Battery Life Descriptions

    Apple’s approach to describing battery life in its specifications adds another layer of complexity to the discussion. By emphasising performance metrics rather than raw capacity, Apple aims to give users a holistic understanding of their device’s capabilities. However, this approach can sometimes obscure critical details, leaving consumers with questions about real-world usage.

    Expectations for iPhone 16 Plus Battery Life

    Despite the reported capacity reduction, the iPhone 16 Plus battery life expectations remain cautiously optimistic. Factors such as optimisation efforts by Apple, software enhancements, and advancements in energy efficiency may mitigate the impact of the reduced capacity, ensuring a satisfactory user experience.

    Comparison with Competitors

    In the competitive landscape of smartphone technology, comparisons with leading Android competitors are inevitable. The reported battery capacities of the iPhone 16 lineup paint a compelling picture, but how do they stack up against flagship Android devices? A closer examination reveals nuances in performance and endurance that may influence consumer preferences.

    Challenges in Comparisons

    However, comparing iPhone battery capacities with Android devices poses challenges due to measurement standards and terminology differences. While Android devices often tout higher capacities, the need for standardised metrics complicates direct comparisons and underscores the need for accurate information in consumer decision-making.

    iPhone 14 Review: Pros And Cons

    Impact on Consumer Decision-Making

    Ultimately, the revelations surrounding iPhone 16 battery capacities have significant consumer implications. Access to reliable information becomes paramount as they weigh their options and consider factors like endurance, performance, and overall value. With the smartphone landscape evolving rapidly, informed decision-making is critical to selecting the device that best aligns with individual needs and preferences.

    As the iPhone 16 release countdown continues, the leaked details offer a tantalising glimpse into Apple’s latest innovations. While battery capacities are just one piece of the puzzle, they provide valuable insights into the potential capabilities and performance of the upcoming flagship lineup. As consumers await further announcements from Apple, the discourse surrounding iPhone 16 leaks is a testament to the enduring excitement and curiosity surrounding each new release from the tech giant.

  • University of Johannesburg secures EU grant for digital transformation

    University of Johannesburg secures EU grant for digital transformation

    The European Union has granted the University of Johannesburg (UJ) more than R8.1 million ($417,435.49) to aid in the digital transformation of South Africa’s Technical, Vocational Education and Training (TVET) institutions. 

    Erasmus+ is an EU programme that supports youth, education, training, and athletics; it is the source of the grant.

    In an effort to address the advantages and disadvantages that have arisen as a result of the introduction of ChatGPT and other artificial intelligence tools into the fields of education and communication, an initiative dubbed “Project Pro-TELDE” has been launched.

    Read also: EU launches digital transformation centre in Kenya 

    Professor Tankiso Moloi of the Johannesburg Business School, UJ, who holds the Research Chair in 4IR, claims that the goal of this project is to improve the skills of business and economics instructors in South African technical and vocational education programmes. Our aim is to provide them with the necessary tools to create digital teaching materials by utilising technology-enhanced learning (TEL) techniques and making use of open digital resources.

    Project Pro-TELDE recognises the significance of technical and vocational education and training (TVET) institutions equipping their students with the digital skills and competencies needed to succeed in the contemporary workplace, Professor Moloi added.

    Among African universities, the University of Johannesburg ranks sixth for its research contributions in artificial intelligence (AI), a field in which it has made considerable progress. In keeping with its dedication to AI education, the university declared in December 2022 that all degrees offered by the school would include artificial intelligence courses.

    Steps UJ has made

    The University of Johannesburg has upgraded its certification procedure by incorporating blockchain technology, marking yet another advancement in the use of cutting-edge technology. This paves the way for graduates to receive certificates backed by blockchain technology, which greatly enhances certification security by removing the possibility of fraud and counterfeiting.

    A one-of-a-kind QR code will be attached to each graduate’s blockchain-based certificate from the University of Johannesburg. Adding an additional safeguard to the verification process, this feature enables anyone to scan the certificate and confirm its details.

    Incorporating AI across various sectors has been a consistent commitment in South Africa. The AIISA, or Artificial Intelligence Institute of South Africa, was established by the government in November 2022. Together with the University of Johannesburg and the Tshwane University of Technology, this institution aims to promote artificial intelligence technologies, increase investment in human capital, and prepare the country for the digital future.

    When it came to educational systems and technological advancement, South Africa was named the best African country in 2023 and ranked fourth in the world.

    Additionally, as of early 2023, 72.3% of South Africa’s population had access to the internet, with 43.48 million users. More and more, the nation’s technological and digital frontier advancements are being propelled by this digital accessibility.

    About the University of Johannesburg

    Among South Africa’s most prestigious universities, the University of Johannesburg (UJ) has been around since 2005. The Soweto and East Rand campuses of Vista University, Rand Afrikaans University, and Technikon Witwatersrand were among the many institutions that merged to form it. University of Johannesburg provides an exciting and culturally diverse learning environment in the heart of South Africa’s economic hub, Johannesburg.

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    UJ has earned a stellar reputation for its dedication to cutting-edge study, groundbreaking research, and civic engagement. A broad variety of arts, humanities, science, engineering, business, health science, and law-related undergraduate, master’s, and doctoral degree programmes are available. An important part of the university’s mission is to educate students to think critically and creatively across disciplines so that they can successfully face the challenges of the real world.

    Learning, research, and innovation flourish in UJ’s environment thanks to its cutting-edge facilities, world-class faculty, and robust industry partnerships. Graduates should be able to think critically, solve complex problems, and compete successfully on a global scale; this is the school’s stated goal.

    By participating in community engagement initiatives, UJ helps advance society and improve people’s lives. The mission of the university’s outreach and partnership programmes is to improve the lives of people all over the world.

    As it moulds future leaders and makes substantial contributions to the progress of knowledge and society, the University of Johannesburg shines as an example of academic brilliance and social responsibility.

  • How to join Nigeria Customs’ e-Auction platform

    How to join Nigeria Customs’ e-Auction platform

    To get rid of stolen goods like cars and other things in a way that works for everyone, the Nigeria Customs Service has started an e-Auction programme. 

    On the official Custom e-Auction website, seized goods and services can now be auctioned.

    To take part in this project, follow these steps.

    Read also: New Customs boss to embrace tech innovation in Nigeria

    Customs e-Auction Site Registration

    a.Visit https://auction.nigeriatradehub.gov.ng, the official e-Auction site.

    b.Register with personal details.

    c.Accept Nigeria Customs Service terms.

    Verification Procedure

    a.Participants must supply a valid Tax Identification Number (TIN) and an email address linked to their TIN.

    b.Phone number for verification.

    Nigeria Customs may verify participant identity.

    Administrative Charge

    a.Sign-up on the Customs Service e-Auction platform requires a minimal N1,000 fee.

    Fund E-Wallet

    a.Log into the auction site 

    b.Create an e-wallet and find it to enable bidding on the displayed item

    Viewing e-Auction Listings

    1. Browse auction listings.
    2. Check item details, descriptions, and conditions.

    Bidding Period

    1. Auctions are held every Tuesday from noon to 6 pm.
    2. Candidates for the Nigeria Customs auction can bid on two products at a time and repeat bids to boost their chances of winning.

    Notice of Winning Bid

    1. High bidders are notified shortly following the bid period.
    2. Winners must immediately download their certificates from the email address.

    Payment

    a.Winners must pay for products within a specific timeframe.

    1. Payment instructions and methods are on the e-Auction site; do not deposit money into a personal account.

    Clearance Process

    1. Winners must present their certificate at their items’ location.

    b.The clearance process takes 7 days.

    Terms and Conditions

    1. Nigeria Customs Officers and confiscated goods owners cannot participate.
    2. Customs Area Controllers must verify winning bids.
    3. Payment, including 7.5% VAT and a refundable container deposit, must be made promptly.

    Rice distribution by Nigeria Customs

    The Nigeria Customs Service was used to fight food shortages. The Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi MFR, promised to help President Bola Tinubu with food security by ensuring all Nigerians can get the food they need.

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    At the rice dispersal program’s flag-off in Lagos on Thursday, February 22, 2024, CGC Adeniyi stressed that rice was distributed near customs activities to ensure direct access to beneficiaries.d

    Rice was distributed at the Customs zonal office on Harvey Road in Yaba Lagos. According to Bashir Adewale Adeniyi, the commission would overcome all barriers to achieve its people-centric goals.

    To ensure openness and accountability in the distribution process, CGC Adeniyi advised Nigerians not to sell or horde rice for commercial use.

  • NITDA, SMEDAN to create database for SMEs’ interventions

    NITDA, SMEDAN to create database for SMEs’ interventions

    National Information Technology Development Agency (NITDA) Director General Kashifu Inuwa has announced a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to promote digital literacy, infrastructure development, and other initiatives. 

    The two organisations will work together to create a database that will provide insights into current events and help direct interventions accordingly.

    Forty million small businesses comprise SMEDAN in Nigeria, generating half of the GDP and employing seventy million people.

    On Friday, while paying a courtesy visit to the Agency’s corporate headquarters in Abuja, the DG made this announcement to Charles Odii, the director general of SMEDAN.

    This trip was about forming partnerships to help small and medium-sized enterprises (SMEs) in Nigeria with their infrastructure and human capital development. To further discuss the possibility of both agencies aligning and inviting DG NITDA to SMEDAN, it is recommended that they draft a memorandum of understanding (MoU).

    Read also: NITDA bill not targeted at telecoms businesses – NITDA

    What is attainable

    Based on Inuwa’s research, NITDA and SMEDAN could work together to achieve goals in the NITDA Strategic Roadmap and Action Plan (SRAP 2.0), such as the first pillar’s emphasis on digital literacy and talent development.

    He says the partnership will help small and medium-sized businesses (SMEs) improve their productivity by increasing digital literacy. In addition, he said, it lines up with the goal of the NDLF, or National Digital Literacy Framework. 

    According to the DG NITDA, this partnership is well-timed since it will improve the enforcement of laws and policies, such as the Nigerian Startup Act.

    The partnership allows them to explore how SMEs can benefit from all the incentives within the Startup Act, according to Inuwa, who also mentioned that SMEs make up about 90% of the country’s workforce and more than 90% of businesses. People who use innovation to boost productivity or start businesses based on innovation are also their targets.

    More than half of Nigeria’s 100 IT hubs are sitting idle, according to Inuwa, who cited the ISF. To promote inclusive access to digital infrastructure and services, he disclosed that both agencies can use these IT hubs as infrastructure for unserved and underserved areas. This aligns with a pillar of the SRAP 2.0.

    They should also meet to establish a standard for how an IT hub should function for the benefit of the public.

    Areas for adjustment

    In order to strengthen cybersecurity and digital trust, he suggested that they consider how to develop cybersecurity solutions for small and medium-sized enterprises (SMEs). This would encourage digital trust by empowering SMEs to offer affordable, indigenous cybersecurity services.

    They need to find ways to encourage innovation and entrepreneurship, he said, in order to cultivate a dynamic ecosystem that drives economic growth, which is another pillar that is focused on SMEs.

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    They were at NITDA to have their curriculum reviewed to make sure it aligns with the NDLF and meets global standards; earlier, Odii mentioned that the agency had started a couple of digital literacy programmes.

    Concerning the Startup Act, Odii has stated that they are aware that NITDA serves as the act’s secretariat and would like to collaborate with you to raise awareness among small and medium-sized enterprises (SMEs), particularly startups, about the benefits of the act and how to register with your database.

    He mentioned that they are currently working on a comprehensive database for small and medium-sized enterprises (SMEs), and they are hoping that the partnership can help them align its framework with resources available to data entrepreneurs.

  • NIMC charges FEPs for Inclusion, data protection

    NIMC charges FEPs for Inclusion, data protection

    The National Identity Management Commission (NIMC) plays a pivotal role in Nigeria’s efforts towards comprehensive identity management and data protection.

     In recent times, the NIMC has intensified efforts to ensure the inclusion of all eligible individuals into its database while also emphasising the importance of data protection. This article delves into the charges levied by NIMC on Foreign Enrollment Partners (FEPs) for inclusion initiatives and the significance of robust data protection measures.

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    Charges Imposed by NIMC on FEPs

    NIMC has implemented a fee structure for FEPs involved in the enrollment of foreign nationals and persons of Nigerian descent in the National Identity Database. These charges are aimed at ensuring sustainable funding for identity management initiatives and enhancing the efficiency of enrollment processes. FEPs are required to pay licensing fees, enrollment fees per individual, and annual maintenance fees to NIMC.

    FEPs are mandated to pay licensing fees to obtain the necessary authorization to carry out enrollment activities on behalf of NIMC. These fees contribute to the administrative costs associated with regulating and monitoring the activities of FEPs. Additionally, licensing fees serve as a means for NIMC to assess the credibility and capacity of FEPs to uphold data protection standards.

    Enrollment Fees per Individual: FEPs are charged enrollment fees for each individual registered in the National Identity Database through their services. This fee structure ensures that FEPs bear a proportionate cost based on the volume of enrollments they facilitate. It also incentivizes FEPs to streamline their operations and prioritize the inclusion of eligible individuals efficiently.

    Annual Maintenance Fees: NIMC imposes annual maintenance fees on FEPs to sustain ongoing support and maintenance of the infrastructure and systems utilized for identity enrollment and verification. These fees contribute to the upkeep of databases, software updates, and technical support services provided to FEPs. By imposing annual maintenance fees, NIMC ensures the continued functionality and security of identity management systems.

    Data protection is a fundamental aspect of identity management, particularly in the digital age where personal information is increasingly vulnerable to breaches and misuse. NIMC recognizes the critical importance of safeguarding the privacy and security of individuals’ identity data within the National Identity Database. Here are key considerations regarding data protection:

     NIMC upholds strict confidentiality measures to prevent unauthorized access to individuals’ identity information. Encryption, access controls, and audit trails are implemented to ensure that only authorized personnel can retrieve or modify data within the National Identity Database.

    IntegrityMaintaining the integrity of identity data is essential to prevent tampering or unauthorized alterations. NIMC employs data validation techniques and checksums to verify the accuracy and consistency of information stored in the database. Any suspicious activity or data discrepancies are promptly investigated and rectified.

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    NIMC adheres to relevant data protection laws and regulations to uphold the rights of individuals and ensure the lawful processing of personal data. FEPs are required to comply with stringent data protection standards and undergo regular audits to assess their adherence to compliance requirements. Non-compliance may result in penalties or revocation of licensing privileges.

    In conclusion, NIMC’s imposition of charges on FEPs for inclusion initiatives and emphasis on data protection underscores its commitment to advancing identity management practices in Nigeria while safeguarding individuals’ privacy and security. By establishing a robust regulatory framework and promoting collaboration with stakeholders, NIMC strives to foster trust and confidence in the National Identity Database as a cornerstone of national development.