News
Huawei Launches $1.5B Fund to Help Build Africa’s Smart City Ecosystem
Huawei has confirmed the introduction of a US$1.5 billion global financing program, with capital from IOT/ smart solutions focused funding company Smart City Solutions, to fuel the development of smart city infrastructure – with specific attention to increasing activity in Africa.
Lauren Fan, president of the public sector at Huawei, announced the safe city funding programme in Shenzhen, China and said it was established to help governments and smart city builders construct IOT, Command & Control for critical communications and Intelligent Video Surveillance.
Huawei executives believe safe city programmes are now a top priority for city authorities, including those based across Africa, but budget constraints remains a challenge and impacts on efforts to intensify safe city initiatives.
With the fund in place, it is envisaged that the conventional siloed approach to projects, where finance analyses budget and it takes time and further resources to move from one phase to another, all stakeholders determine the entire spectrum of the project simultaneously and link deliverables with finance options immediately.
Edwin Diender, VP – Government & Public Utility Sector, Huawei Enterprise Business Group said budget availability is one issue, but there are others including the impact of a largely traditional approach to digital projects and capital investment, and the growing need for flexibility.
“‘What can we do and when can we start’ is usually the beginning of a discussion (with government) … but the end of the discussion will be ‘what will be the budget?’ or ‘where are the budget constraints?’ or ‘we do not have any budget’. Especially if you look at how smart cities and digital transformation is being formalised and established, it is still very much in the old fashioned way.”
Diender explains that this way is based on projects with a clear beginning and ending, and clear outline.
In other words, there is a request for proposal, there is a public tender, there is a range of technical requirements that vendor/ responder must comply with and there is constraint in terms of what budget available.
“That would mean if you want to move forward to something that was very high up, either you would have to find a technology partner that, for the same budget, has a whole bunch of more functionality and features…. or if you want to be more cost effective, you could say that for the amount of functions and for the number of features that you are actually looking for, you can do that for less than your budget.”
These are really the only two options and both represent a challenge because they require effective savings, a review of dispositional income, taxes etc.
“On top of that there are other elements or other possibilities where you can move forward when you come to things like a loan, or lease / financial services – but also that would be limited to the parts that are described within a very closed inwards looking item or issue or component, like a public tender or a request for proposal… because again that is very siloed, it’s very ‘on its own’ – what it’s not doing by itself (because that is not what the principle is about) it doesn’t look at ‘what is this project for’ , is this a first step in a number of projects alongside each other or the one after each other that indeed is going to help pull the nation higher up a value chain, yes or no,” Diender continues.
This is why Huawei has taken a step away from political processes and a siloed approach on the road to digital transformation.
When it comes to budget plans, governments have to make provision for upgrades, migrations or acquisitions such as additional technology – and the global financing program represents an effective vehicle to help manage these processes.
Diender did acknowledge that some people may describe the announcement as merely a strategic means by which Huawei can secure projects/jobs going forward.
“It’s a fair statement, but it’s not necessarily the case that it will only run where a government does not have a budget. If a government has a budget, there are a number of ways how they can use the budget…”
And that includes investing in a PPI-driven ecosystem where there is value-add through collaboration and engagement to smart city development and digital transformation.
Diender says the PPI-model is certainly one engagement option and one that is highly successful. “Because it’s not a government-driven item alone, it is also not a private sector driven item alone… when you talk about smart cities, when they are working together as one, of course create a nation, because that is what cities by nature already do. ”
CWG Plc has announced a significant milestone in its commitment to delivering value to shareholders. Following a thorough review of the company’s financial performance and outlook, the Board of Directors has approved a substantial increase of 400per cent in dividend payout to shareholders.
This decision reflects CWG’s confidence in its financial stability, growth trajectory, and ability to generate sustainable returns. By enhancing the dividend payout, CWG aims to reward shareholders for their continued trust and support while reaffirming its commitment to creating long-term value.
Mr. Philip Obioha, Chairman of the Board of Directors at CWG Plc, said, “The decision to approve a 400% increase in dividend payout underscores our confidence in CWG’s performance and outlook. We are dedicated to delivering value to our shareholders and believe that this significant dividend increase is a testament to our commitment to shareholder value creation.”
This increase in dividend payout aligns with CWG’s strategic objectives to prioritize shareholder interests and maintain strong financial discipline. The Board remains committed to prudent financial management and sustainable growth, ensuring that CWG continues to be a reliable investment for shareholders.
As CWG continues to execute its growth strategy and expand its presence in the market, the Board anticipates that the increased dividend payout will further strengthen investor confidence and support CWG’s vision for the future.
CommunicationsWeek Media Limited, a certified global ICT company with over two million online subscribers, is delighted and proud to announce Prof. Yakub Aliyu, as the keynote speaker at Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture series 2024.
Aliyu, will be speaking on the theme: Artificial Intelligence (AI): The Good, The Complex and The Anticipated”, this leans heavily on the fact that AI changing our lives– we just need to know where to look today.
This year’s rebranded Africa’s Beacon of ICT Merit and Leadership Distinguished Lecture/Awards Series is slated for Saturday, May 25, 2024 at the Four Points by Sheraton, Lagos.
The event is the most prestigious annual event that brings together captains of industry in both technology and financial worlds.
According to Ken Nwogbo, CEO, Communication Week Media Ltd, organisers of the ABoICT Distinguished Lecture/Awards Series, “the choice of Prof. Yakub Aliyu is deliberate because of his exceptional career in Artificial Intelligence (AI)”.
He added that, AI is considered to have the potential to instigate a fourth industrial revolution,1 and is dramatically changing people’s patterns of interaction and economic activities.
“The traditional factors of production and physical capital and labour may no longer promote substantial economic growth. It is generally believed that AI will be one of the most important factors determining future economic growth,” he said.
A professor of microelectronics and a scholar-practitioner in artificial intelligence and deep machine learning for industrial applications and high-speed application processors. His research interests include Multimodal AI models for high-efficiency industrial robot applications and Human AI interactions.
He also has adjunct academic professorships at five African, USA, and UK universities. Holds a BS in Applied Physics Electronics from Karlsruhe and A Bello Universities in Germany and Nigeria, an MBA in International Business Management from the University of London, an MSEE (Master of Engineering, Electronics), and a Ph.D. in Electronics Engineering from the University of Wales.
Prof. Aliyu is the global quality director for Bourns Inc., Riverside, California, USA, an electronics system, and components manufacturer. I oversee quality functions in 21 factories worldwide.
He has also held quality and operational management leadership positions at National Semiconductors, Bell Labs-Lucent Technology, Texas Instrument, Global Foundries, and Roper Technologies USA.
Authored and coauthored over 30 Advanced Technology United States-issued patents in High-Speed Application Processors and Contributed to over 40 international impact Journals, chapters, and conferences; FASI, SMIEEE USA, MIEE UK, M. Inst pf Physics Chartered Phys and C Eng UK.
Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Engr. Yomi Bolarinwa, former Director-General of National Broadcasting Commission (NBC); Dr. Jean Luc Fort, CEO at OR System France and a specialist in Counterparty Risk; and Professor Chris Nwagboso, Chairman, Knowledge Factory International, United Kingdom.
Others are: Uche Orji, managing director/chief executive officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, Managing Director, Rack Centre Limited; Peter Adedayo Arogundade, managing director and chief executive officer, Sidmach Technologies Nigeria Limited; Dr. Adewale Obadare, chief visionary officer, Digital Encode and John Obaro, CEO and founder of Systemspecs; Prof. Isa Pantanmi, minister of Communications and Digital Economy; Dr. Seyi Akindeind, co-founder, Digital Encode; Dr Krishnan Ranganath, Regional Director, Africa Data Centres.
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Participants at the event
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
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