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Nigeria Should Take Advantage of Convergence- Oguntonade

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Deji Oguntonade is the managing director of 3Line Card Management Company Ltd, a company set up to bridge the gap in service delivery. Oguntonade reputed for his strength in innovation, human capital development and a never say die attitude has nearly 20 years work experience in the ICT sector. He spoke to hilary okeke.

3line Card Management and e-Payment
3Line Card Management Company is coming to the Nigeria e-payment scene at the right time. We believe what this economy needs now is a company that focuses on delivering more value to the existing payment card users in the country. 3line is poised to deliver specialized value adding business solutions that make electronic payment easy, simple and affordable by the vast retail market especially the unbanked and underbanked. We have identified needs and gaps and we have positioned to remedy such. We are not just another technology company but strictly a payment solutions company. We have also acquired installed capacity to support these solutions and manage the entire life cycle of cards right from design to production, personalization, etc.
Deadline on Issuance of Chip and Pin Card
There are lots of factors to be considered for a successful migration from magnetic stripe cards to the so called chip and pin cards. Chief among this is the upgrade of the current infrastructure, especially channels such as ATMs and PoS to make them compatible for this new card technology. This is a capital intensive investment for banks and other technology service providers in e-payment. Also, the cost of the cards themselves far surpass that of the cards currently in use, hence replacing these cards will also generate issues like who ought to bear the cost – customer or bank? Another question to ask is if chip and pin is really needed in all and every situation. By and large, the greater security offered on the chip and pin platform will eventually drive the market in the direction of compliance. What we envisage is a gradual, rather than sudden compliance.
EMV Chip and Pin Card and Fraudsters
Because of the additional security requirements implemented on the EMV compliant cards, the nefarious activities of fraudsters will be reduced to a very great extent. Also, the cost involved in attempting to break the security is prohibitive enough to make such activities no longer unprofitable as against the case as we know it today. Yes, EMV will reduce card-based frauds.
Interoperability among Switching Companies
I think the absence of proper regulatory framework for this sector is responsible for this phenomenon. Unless something is done to reverse this trend, the growth of the Nigerian e-payment sector will remain rudimentary and at best stunted. We cannot compete in a global world and major global players in electronic payments will not be able to participate adequately in an economy of several disjointed switches. There is a need to streamline and regulate where necessary. The onus still lies very much with government agencies to chart the direction for compliance in the switching business. 3Line has positioned to take advantage of existing technology without necessarily acting as another technology provider. Nigerian users need more values for their card usage and that is what we are willing to deliver.
Freedom Card
The Freedom Card brand is at the core of 3line value proposition and offering. It is the flagship for 3line products. Freedom Card brand’s essence is borne out of a strong philosophy that for every human being, choice is the most desirable form of Freedom – choice of location, achievement, lifestyle, convenience, security, etc. People are simply desirous to live truly free.
The brand has therefore, positioned itself as an enabler for achieving this aspiration of the innate desire for Freedom. Freedom Card brand’s posture therefore resonates this attribute inside out; from our work culture to our various product offerings. We see ourselves as Freedom ‘fighters’ whose ambition is to bring exciting lifestyle experience to Nigerians through innovative and cutting-edge products that truly enable them achieve more, do more, believe more in themselves, especially those excluded from access to financial services and products. Freedom Card believes that there are limitless possibilities and that by being non-conformist, we can question the status quo and discover hitherto unconceivable solutions to make everyday life more fun-filled, colourful, exciting and vibrant. It is in line with the above brand essence that our products and services seek to address every aspect of daily lives of Nigerians with a view to enabling them live truly free using the e-payment platform, while forging deep connection with the Nigerian culture.
Freedom Card is our flagship brand. It is the umbrella name for a bouquet of card based products such as the prepaid card products and the chip and pin cards. An example of application of the prepaid card is in the Freedom Gift Card, which was launched into the Nigerian market last December. This was received with a lot of enthusiasm as it offers the public an alternative and more convenient means of sharing gifts. There are several other products in the Freedom Card suite that will be released over time.
High Downtime at ATMs
It is no longer news that the state of infrastructure in Nigeria is very deplorable. It needs to be understood that for ATMs to work, several infrastructure providers are involved in the value chain right from telecoms to power, IT and even physical security. Once there is a breakdown at one of these points, the chain is broken. You will agree with me that it is not an easy task to control this entire infrastructure without occasional hitches given the state of the entire Nigerian society and other socio-economic factors. For instance, alternative power is supplied per ATM location; separate telecoms is deployed to ensure that ATMs are up and running. To reduce these breakdowns, efforts must be made in appropriate quarters to improve each of the ancillary infrastructures.
e-Commerce Solution
It is something that we would love to do, although it has not fully taken off. The learning curve may be very steep but we are willing to take it in strides and believe that it will catch on with time. The developed economies that we refer to as examples today also took a while to get where they are today. The cultural and social transformation needed to bring about similar change in Nigeria may take some time but the change is inevitable. Much improvement has been seen in the last decade and the trend is still continuing. We would embark on necessary consumer enlightenment programmes; create enough values to give the consumer a need to adopt eCommerce as against other traditional means of conducting transactions. We plan to develop our solutions around the lifestyle of consumers as against forcing them to adopt a standard. So, we are still building up capacity and most likely by the end of the year, we would start having some inputs into eCommerce.
e-Data and e-Identity
Aside from ePayment, the next logical thing that Nigeria will latch on to is convergence of many activities and services that are available in silos today. For instance, health data, vehicle data, insurance details, even bio-data can very well be carried on cards. The adoption of the chip and pin era will further make this possible and achievable. We intend to make carrying such sensitive personal data very portable, secure and presentable in a uniform format to facilitate verification. 3Line is in a position to deliver this as part of its value proposition.
Auto-Reg Scheme
Well, the major achievement is having vehicle details registered electronically and accessible from a central location. Data have been recorded, saved, made available to those that should have access to these data – LASTMA officials, Federal Road Safety agents, Police or Vehicle Insurance company. Now, those records can be accessed easily since they have been compiled and kept in a databank.


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d.light Provides 10,000 Solar Home Systems to Refugees

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d.light, the global provider of transformational household products and affordable finance for low-income households, is providing 10,000 subsidized solar home systems to refugees who have fled conflict in South Sudan and the Democratic Republic of Congo and who are now living in refugee camps in Northern and Western Uganda.

The 10,000 units are part of a wider initiative to supply 23,000 solar home systems to Ugandan refugee communities.

The project is being funded by a USD$3.4M grant from Private Sector Foundation Uganda (PSFU), a body made up of business associations, companies and public sector agencies in Uganda: and Energising Development (EnDev), an international programme by the German, Dutch, Norwegian and Swiss governments to provide access to affordable, reliable, sustainable energy for delivering social, economic, and environmental change.

The project began in April and is scheduled to run for 12 months. Funds from the grant are subject to results based financing (RBF) and d.light will only receive funding for solar home systems that have been installed.

Each solar home system from d.light features three high-efficiency LED lights, an FM radio with MP3 playback, mobile phone charging capability, and a portable solar flashlight.

Commenting on the news, d.light’s Managing Director for Uganda Douglas Gavala said, “With this grant, we can expand the important work we’re doing to improve living conditions for underserved refugee communities from South Sudan, the DRC and elsewhere who are living in refugee camps in Uganda.

“A solar home system significantly improves the quality of life and wellbeing of a household – whether it’s providing entertainment or letting a family stay up to date on local and global news on the radio or enabling children to continue reading and studying after dark.

“As well as benefits at home, d.light products also bolster household income in Uganda’s refugee settlements by extending working hours for tradespeople and small businesses, and providing an income for residents who work as d.light salespeople in the settlements.

“By providing high-quality solar products at an affordable price, we are improving the quality of life for displaced people while simultaneously encouraging economic activity at a grassroots level.”

 


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DG NITDA Reiterates Needs for Safe and Inclusive Digital Environment

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To forge strategic partnerships and collaboration for the advancement of Nigeria’s digital transformation Agenda, the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa has reiterated the need for a safe and inclusive online environment responsible for human and Artificial Intelligence (AI) practices in country.

Inuwa made the statement while playing host to a team from TikTok who visited Agency’s Corporate Headquarters in Abuja to seek alliance towards bolstering the country, which aligns with President Bola Ahmed Tinubu priority area of strengthening national security for peace and prosperity.

The DG stated that content moderation strategies will help in addressing online problems like hate speech, misinformation, and cyberbullying in relation to the protection of minors across the country.

“With the Code of practice for Interactive Computer Service Platforms/Internet Intermediaries in place, this has helped in ensuring digital safety in accordance with global best practice and content moderation to enhance security”, he said.

He further noted that “no organisation or institution can operate in silos, we need each other for the actualisation of our goals and objectives towards services delivery and for the advancement of the Nation.”

Highlighting some critical areas, Inuwa stated that leveraging on the platform will advance the country through Digital Literacy 4 All (DL4ALL), Capacity Building, knowledge sharing, trainings, and curbing misinformation, digital safety with the aim of creating a safer cyber space and empowering online environment for Nigerian users.

He added that the platform allows for creative expression through filters, stickers, and editing tools, entertainment and comedy are dominant themes, and informational videos on various topics are gaining traction which has become a launchpad for influencers and trends that can go viral.

Inuwa also explained that NITDA’s Strategic Roadmap and Action Plan 2.0 (SRAP 2024-2027) is structured around eight pillars which include; Fostering Digital Literacy and Cultivating Talents, Building a Robust Technology Research Ecosystem, Strengthening Policy Implementation and Legal Frameworks, Promoting Inclusive Access to Digital Infrastructure and Services, Enhancing Cybersecurity and Digital Trust, Nurturing an Innovative and Entrepreneurial Ecosystem, Forging Strategic Partnerships and Collaborations, and Cultivating a Vibrant organisational Culture with an Agile Workforce.

In her earlier remarks, the Head of Government Regulation and Public Policy TikTok Nigeria and West Africa, Mrs Tokunbo Ibrahim has revealed that NITDA is one of its biggest and critical stakeholders in Nigeria that has an outstanding strides and performance in advancing the digital economy sector.

Ibrahim commended NITDA for its various initiatives, programmes, and policies set in place and aligns with that of TikTok, providing the opportunity were Nigerians use the platform to market, sell and export their products and services as well as talents to the outside world and make a living out of it.
She pointed out that there are projects and programmes that TikTok platform has forge ties of collaboration with, like the Africa creator hub where they do campaigns for tech creator, support, empower, and educate them on how to create contents and explore other sections of the platform, changing their narrative and adding values to what they are doing.

Ibrahim also added that TikTok platform considers online safety as one of its critical areas to secure the cyber space by providing an avenue for users to thrive and be productive in their various activities.

TikTok is currently running African mall to push the narrative of Africa to the world and creators are being equipped with information that they can create contents for products and services in Nigeria, thus can be exported to other countries of the world attracting investments


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Dr. Adesina, AfDB Group President Calls for Media Transformation to Uplift Africa’s Global Narrative

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Dr Akinwumi Adesina, the President of the African Development Bank Group, delivered an impassioned plea for more balanced media coverage of Africa and its development, noting it was critical for changing false narratives.

Adesina said this on Thursday in a keynote speech to the All Africa’s Media summit in Nairobi, attended by nearly 300 participants from across the continent. He praised the crucial role the media plays in strengthening democracy and advancing inclusivity.

The Bank Group president said there were many positive developments in Africa yet the continent continues to suffer misrepresentations which undermine its economic progress and investment potential.

“Despite the significant progress within our continent, the prevailing media narrative often focuses on negative stereotypes, overlooking the substantial advancements and resilience Africa demonstrates,” he added.

Adesina said there was plenty of positive news to report about and highlighted the continent’s economic resilience regional and amid global challenges. He said that in 2023, Africa’s growth rate surpassed the global average, with 11 African nations ranked among the world’s fastest-growing economies.

Adesina referenced a 2021 Africa No Filter Report, which revealed significant adherence to outdated and negative clichés in media reports about Africa. “It’s time for change,” he declared. “We must reshape the narrative about Africa to reflect its true spirit and potential.”

He emphasised the critical nature of information and its ability to have a profound negative impact on development and investor perceptions even though an in-depth investigation by Moody’s Analytics had shown the continent was much less of a risk than many other continents.

“We must promote a balanced view that highlights both the challenges and the many successes of Africa. It’s about changing perceptions and showcasing Africa as a continent rich with opportunity and innovation.”

The Bank Group President also spoke about the challenges and transformations within the media sector, highlighting the impact of digital technology.

“The media landscape has dramatically shifted with the rise of the internet and mobile technology, leading to a proliferation of digital platforms,” Adesina declared.

“While this has democratised information, it has also complicated issues, the distinction between fact and fiction can become blurred.”

To counter unfair and unbalanced narratives, Adesina urged the creation of a powerful, globally respected African media and proposed strategic collaborations among regional financial institutions to support this cause, emphasising the need for media to act as a catalyst for development.

“We need to celebrate and promote the continent’s successes, turning the tide against the longstanding stereotypes that have clouded the global view of Africa… What you call yourself, is the name others will subscribe to you.”

“For as long as we continually denigrate ourselves and play into the hands of those who control the narrative about Africa, we will be stuck with a label that does not belong to us,” he concluded.

He highlighted the African Development Bank’s own successes which included maintaining a AAA credit rating and launching groundbreaking financial initiatives that have earned it respect as an innovative and successful multilateral development bank.

“We have proven that Africa can lead with innovation and strength in the global financial landscape,” the President remarked. “Yet, these achievements receive minimal attention compared to the persistent focus on Africa’s challenges.”

Adesina added that just one month ago, the Bank launched a landmark $750 million hybrid capital instrument, again with a Triple A rating, which was oversubscribed eight times. He described this as a huge “testament to the confidence and trust in Africa’s burgeoning financial capabilities.”

He pledged that the African Development Bank remained committed to supporting initiatives that would help the media present a more balanced and progressive portrayal of Africa and support its economic development.

In a discussion with Julie Gichuru of the Mastercard Foundation after his address, Adesina said Africa was blessed with energy sources, but millions remained without electricity. “This must change,” he said.

“We cannot industrialise in the dark, we cannot develop in the dark. Our children cannot be competitive in a world of darkness,” he concluded.


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