Telecom
CWG to Revolutionize Energy Sector with Smart Metering Solution
James Agada, Group CEO, CWG PLC has said that they have developed technological solutions that could create additional revenue streams for the Electricity distribution Companies (DisCos) in the country.
He disclosed this at a media parley with ICT journalist held at the CWG‘s Head office on Thursday in Lagos.
He stated that they have built smart meters that can create additional revenue streams for the DisCos if they utilize the benefits of other communication systems embedded in the smart meter.
According to him,” we are building meters that can create additional revenue streams for the DisCos.
“Some of our meters come with the capability to provide WiFi hotspot.
“Once you have WiFi in an area, and you can stream video, you can do a lot of other services.
“You can run advert which can generate revenue for the discos.
He emphasized that DisCos cannot make sustainable profits with just selling electricity to its consumers without making provision for value added service that could deliver additional services to its customers.
He urged these companies to use their meters to deliver additional services or buying the right kind of meters that can for instance deliver WiFi internet connectivity to people’s homes, adding that with internet connectivity, you can stream videos and do other services.
He added the DisCos can use their infrastructures like poles to provide services for telecommunication companies and make additional revenues for its self.
Agada noted that DisCos have right of way to their customer houses which they can offer to any company who wants to do fiber to homes.
He revealed that the technology as part of its value added services embedded in it can stop power tapping and also monitor and detect when there is tapping theft.
“It is technology that can stop power tapping; we can monitor and detect when there is tapping theft.
“Then, we can identify where it is coming from and then the DisCos can take action.
“If you don’t deploy that technology there is no way you are going to stop power tapping,” he stated.
Daniel Das, VP,Corporate Development, CWG, while speaking at the media parley said that the smart metering solution they are bringing to the markets combines smart metering, where the meters have their own communication systems, they have software for capturing data and also the system for helping people remotely disconnect, reconnect their meters, recharge them without having to manually punching the keys.
He added that the root cause of non viability of the power sector as of today is because power is stolen which should have been otherwise billed and accounted for.
He said,” what we are bringing in is a theft prevention system. So every meter, smart or non smart, prepaid, postpaid cannot be bypassed by simply taking jump from the phase before the meter and people cannot draw power illegally from the lines.
“So it really doesn’t depend on the meter. Therefore, metering alone cannot solve the problem that the Nigerian electricity supply industry faces.
“We discovered and found the problem. As the distribution companies and everyone is struggling to make the sector financially and commercially viable, the root cause of its non viability as of today is that power is stolen, power is lost, which should have been otherwise billed and accounted for.
“Therefore the theft preventing system which can be combined with metering system are put together then whatever energy that is pumped into the network is going to be billed for.
“When it is billed for, the revenue will improve and increase and of course the sector becomes viable on its own accord because the tariffs we pay as customers has in it accompanied for energy, cost and operation.
“The theft preventing system ensures that no power is lost by unscrupulous means and once you prevent that the viability of the sector becomes possible.”
Das reiterated that apart from the smart meter doing the metering functions, it also give the customers remote view of their energy consumption.
He further noted that the meters are embedded with 4G Lte WiFi hotspot that works on all these banks that are currently licensed by NCC or TELCO operators, meaning that you can use any Telco’s data operator’s sim card on it.
He explained that the idea behind them putting two things into one device is because energy and data have become the life blood of any modern society and that it will make sense to add extra cost and make the meters have two widely used functions.
“In today’s world, we need energy on daily bases and we also need data. Nobody can live without data.
“So energy and data are the life blood of any modern society and we are bringing these two into a single device and therefore it can serve as additional revenue source for the distribution company who is bringing you the meter.
“So it will make sense to add extra cost and make the meters have two widely used functions,” he added.
9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial inclusion has reiterated its support to Nigerian women entrepreneurs and Small and Medium Scale Enterprises through its agent banking business opportunities that will scale up their revenue base and improve their standard of living at the 2024 South-West Women Chamber of Commerce and Industry, Emerging Market Emerging Market Summit and Expo.
The event themed: Women Entrepreneur as Catalyst for Sustainable Development and Economic Growth held at Lagos State Co-operative Federation (LASCOFED) aimed at training and empowering over 500 women participants on entrepreneurship skills and fostering market link and economic growth, had in attendance women entrepreneurs and SMEs owners across South-West region who have been using their skills and resources to make purpose driven contributions to the society.
Speaking at the event, the Chief Executive Officer, and Managing Director, 9 Payment Service Bank, Branka Mracajac, represented by the Head of Sales Distribution and Strategic Partners, 9 Payment Service Bank (9PSB), Kunle Isiaka commended the women for their resilience and viable contributions to their communities through the various initiatives and businesses.
‘’I am indeed very thrilled to see these amazons who have been breaking all barriers without limitation in all strata of the society, women are truly the bedrock of the society, when a woman is trained, a nation is of course trained, we cannot over emphasize the need for the women the be financially included, empowered, and given the required support to thrive.
It is understood that a reasonable number of the women folks lack the basic financial knowledge, and many are financially excluded from the formal financial system, this has impacted to an extend their means of doing business.
A report by EFInA states that at least thirty-eight million (that is, 36%) Nigerian adults still do not have a bank account but majority of them have phones, it also shows that four out of every 10 Nigerians are financially excluded, and they are mostly females.
In Lagos State, there are at least eight million adults between the 18 years and above who live in Lagos and more influents daily. Out of this number, 54% of adults are business owners or traders and 28% of them receive payment digitally. With this statistics, 9 Payment Service Bank is working and consolidating on these areas.
“In addition, 91% of Lagos adult females are currently financially served, 6% of women in Lagos have access to credit facility, while we focus on the 8% excluded Lagosian, although our license does not permit us yet to give out loans, but we are doing everything possible to ensure we support the women through our agent banking training geared towards women empowerment,” Kunle added.
“As a bank providing services to the banked and underbanked, we dwell on strategic partnership with other players in the industry because we cannot do it all alone, we have the mandate to drive financial inclusion and ensure that every household is financially included. Also, a robust agent network spreading across the country to facilitate financial transactions have been of tremendous progress.
“We have empowered over 18,000 agents out of which over 45 per cent of them are women. As we make progress in this journey, our Service Location Partners will continue to engage you at your various locations with necessary support to thrive as a merchant in the payment services industry,” he remarked.
Google on Monday announced the opening of applications for the 8th cohort of its Google for Startups Accelerator Africa program. This cohort will have a strong focus on startups leveraging artificial intelligence (AI) and machine learning (ML) to address critical challenges and unlock new opportunities across the continent.
Startups are the lifeblood of innovation, driving economic growth, creating jobs, and solving some of society’s most pressing challenges. In Africa, digital transformation is accelerating rapidly and startups play a vital role in shaping the continent’s future from fintech and agritech to healthcare and education.
The Google for Startups Accelerator Africa is a three-month, equity-free virtual program that provides African startups with mentorship, technical resources, and access to a global network of experts and investors. Since its inception in 2018, the program has supported 106 startups from 17 African countries, and have collectively raised over $263 million and created more than 2,800 direct jobs.
“We’re excited to support the next generation of African AI pioneers through the Google for Startups Accelerator, providing them with the resources and mentorship they need to build successful, impactful businesses” said Folarin Aiyegbusi, Head of Startups Ecosystem, Africa at Google. “Africa’s tech ecosystem is a hotbed of innovation, and AI has the potential to be a transformative force across various sectors.”
The Class 8 program will run from June to September 2024 and will include:
Equity-free support: Up to $350,000 in Google Cloud credits.
Mentorship: Personalised guidance from Google AI experts, seasoned entrepreneurs, and industry leaders.
Technical workshops: In-depth training on AI/ML development, product strategy, and scaling.
Global network: Connections to potential investors, partners, and customers.
Community: A supportive network of fellow founders facing similar challenges and opportunities.
Applications are open from April 29 to May 20, 2024, and can be submitted online at g.co/AcceleratorAfrica. Eligible startups must be based in Africa or building Africa-centric solutions and should be utilising AI/ML in a transformative way.
MTN Nigeria in collaboration with Pan-Atlantic University (PAU) held a graduation ceremony for the graduands of the second edition of its Media Innovation Programme (MIP) at the Lagos Business School, Lekki, Lagos on Friday, 26th April 2024.
Launched in 2022 in partnership with the School of Media and Communication, Pan Atlantic University, MIP is a six-month fully funded certificate fellowship set up to empower media practitioners and content creators to gain deeper insight into the ever-evolving media landscape.
Speaking about the benefits of the programme, Odunayo Sanya, Executive Director, MTN Foundation, said, “As fellows of the MTN MIP, we expect to hear of you, we expect to see you, visibly breaking new grounds, pushing the frontiers, and indeed setting very good standards.
“At MTN, this is our DNA, we do not leave people the way met them and when you look at our story, even as a commercial business, that’s the way it’s been.
“MTN has made a commitment to be a part of the sustainable development of Nigeria. We know we can’t do it alone, and that’s why we look for avenues like this and join hands to deliver transformation.”
The Dean of the School of Media and Communication, Pan-Atlantic University, Dr. Ikechukwu Obiaya, expressed his delight at the completion of the second edition of MIP. Sharing his congratulatory messages, he said, “Knowledge is power, but I’d ask this question, now that you have this knowledge, what are you going to do with it? You have all successfully completed the certificate programme which have consisted in a transmission of knowledge and knowledge as we know is empowering.
“But then knowledge could be useless if we do not apply it. So, I ask again, now that you have this knowledge what are you going to do with? I’d like to make a suggestion and that is to use knowledge to work towards change.
“We all complain a lot about the way things are and we could limit ourselves to those complaints, but the challenge is for us to actually make a difference in striving to improve the space in which we find ourselves. I don’t think any of us here will be able to change the world, but we can change the square-meter within which we find ourselves. Use knowledge to enrich the community.
“So while congratulating you, I also charge you in the goal of wanting to improve self, society and the particular space that you find yourself, I do hope that you will take up this charge to work with us in achieving these goals.”
Among the congratulations, the event’s highlight is inarguably the presentation of the award of excellence to two fellows, Chinenye Anuforo for Innovative Reportage on MTN Foundation and Abdulrasheed Hussain, Chairman’s Prize for innovation, who demonstrated diligence and hard work during their studies. The awards were presented.
Over the last two years, the MIP programme has proven to be one of the pioneers in training fellows in media and innovation in Nigeria. Through its capacity building, the MIP programme is posed to innovate the Nigerian media landscape.
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