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AMSCO Supports Microfinance Firm to Boost Women Entrepreneurs

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Lift above Poverty (LAPO), a microfinance institution committed to raising the socio-economic status of low-income people particularly women in Nigeria, is on its way to becoming a world class organization through the support of the African Management Services Company (AMSCO).

Motivated by the need to strengthen the company’s financial management processes, the management of LAPO sought the assistance of established management and capacity building organization, AMSCO.

In response to the request, AMSCO seconded Dr. Kamakhya Singh, to join LAPO’s administrative board as the Chief Finance Officer, to better position the organisation for the transformation into a licensed Micro Finance Bank and also assist with subsequent expansions. The strategic input of the manager has helped the organization reach a wider group of clients within the last few years.

According to Mr. Godwin Ehigiamusoe, executive director, LAPO, “Since the strategic partnership with AMSCO, we have been able to touch more lives in the last years and provide more solutions to women entrepreneurs than ever before. AMSCO’s input has had a tremendous impact on our operations.”

Commenting on the progress made since his deployment to LAPO, Dr. Kamakhya Singh said, “There has been remarkable success in skills transfer to the local staff, particularly in the finance department. The number of projects executed has also increased by a large margin. This comes even as LAPO recently celebrated two major milestones at the Microfinance Conference it hosted on the 17th October, 2013 in commemoration of World Poverty Day. The first of these milestones is the achievement of a client base of one million, while the second is the cumulative disbursement of one billion US Dollars.”

LAPO has enjoyed robust growth, now serving more than 500,000 microenterprise borrowers, 90 percent of whom are women. This growth has enabled LAPO to lower interest rates by almost 20 percent, and it has also become the first microfinance provider in Sub-Saharan Africa to use a nationally representative poverty scorecard to select its clients and track their poverty levels.

The organization aims to continue to enhance leadership skills, literacy status and political participation among poor women.

“Being associated with LAPO has been one of the highlights of my years at AMSCO. The institution has successfully pulled hundreds of Nigerians, mostly women out of poverty by listening to its customers and by focusing on adapting its operations to their needs. This is financial inclusion at its best,’’ said AMSCO Regional Manager; West & Central Africa, Mohamed Ky.

AMSCO is a special purpose project of the UNDP, established in 1989 to rollout the African Training and Management Services (ATMS) Project in order to assist African enterprises to become globally competitive, profitable and sustainable.

The International Finance Corporation (IFC) is the Executing Agency and the African Development Bank is the Regional Coordinating Agency for the Project.


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E-Business

ISDL Achieves IMS Certification

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Integrated System and Devices Limited (ISDL), a major provider of electronic security solutions, is delighted to announce the successful attainment of ISO 14001:2015 and ISO 45001:2018 certifications following a rigorous audit process conducted by Bureau Veritas Certification Holdings SAS-UK Branch.

ISDL Achieves IMS Certification

In 2021, ISDL bagged the Quality management systems ISO 9001:2015, and now in 2024, with unwavering dedication to customer satisfaction, the occupational Health and Safety system ISO 45001:2018 and the Environmental management system ISO 14001:2015 have been consolidated to form an Integrated Management System.

These certifications, covering ISDL’s headquarters and branches, signify the company’s unwavering commitment to upholding the highest standards of quality management across all facets of its operations.

According to Oluseun Mabogunje, managing director of ISDL, the scope of the certifications encompasses the design, procurement, supply, installation, integration, maintenance, and after-sales support of various electronic security and Extra Low Voltage (ELV) equipment.

Mabogunje expressed his elation at receiving the IMS certifications, emphasizing ISDL’s dedication to delivering exceptional quality and service to its clientele. He emphasized that this achievement underscores the company’s ongoing pursuit of continuous improvement and customer satisfaction.

 

 

 


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Cybervergent’s Q1 2024 Report Reveals Rising Threat of Remcos RAT Malware in Financial Sector

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Cybervergent, a foremost technology company providing automated cybersecurity solutions, in its Quarterly Brief has revealed a troubling trend in the financial sector that shows a spike in attacks utilising the deceptive Remote Control and Surveillance Access Trojan (Remcos RAT) in Q1, 2024.

The findings affirm a stark forewarning to the financial institutions and organisations in the African continent, urging heightened vigilance and proactive measures to mitigate potential escalating risks.

Previously marketed as a legitimate software, Remcos got co-opted by malicious actors and is now a prevalent tool in cybercrime campaigns. This remote access tool grants attackers hidden entry into victims’ devices, allowing them to seize control, pilfer sensitive data, and even introduce stealth backdoors to compromise entire systems. The capabilities of Remcos are diverse and frightening, ranging from disabling vital security features like User Account Control (UAC) to covertly recording user activities.

“As vigilant cybersecurity gatekeepers, we have observed a significant surge in attacks leveraging the Remcos RAT malware,” said Gbolabo Awelewa, the Chief Solutions Officer, Cybervergent. “Financial institutions are particularly targeted due to the sensitive nature of their data and assets. Organisations must remain diligent and adopt proactive monitoring measures to safeguard against such threats.”

The proactive approach adopted by Cybervergent’s Cyber Operations Centre involves meticulous analysis of attacker tactics, constant updating of threat intelligence, and implementing robust endpoint security solutions. These measures are designed to detect, prevent, and neutralise Remote Access Trojans like Remcos, ensuring the continued security and compliance of organisations in the face of evolving cyber threats.

“Our mission is to fortify our clients’ defenses and ensure the seamless operation of their organisations,” added Gbolabo. “By staying ahead of emerging attack vectors and vulnerabilities, we empower businesses to take proactive measures and protect their valuable assets.”

Looking ahead, Adetokunbo Omotosho, Chief Executive Officer of Cybervergent emphasised the firm’s focus on empowering organisations to navigate the complexities of cybersecurity and compliance with dexterity and confidence.

“Cybervergent’s Assurance and Compliance Team has demonstrated unparalleled leadership in the cybersecurity domain, achieving significant milestones and delivering transformative solutions. Our journey through Q1 reflects a deep commitment to advancing the state of cybersecurity compliance, paving the way for a secure and resilient digital future for organisations in Africa and across the world”, he added.


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Konga Launches Free Same Day Deliveries on Starlink, Apple & Samsung Nationwide

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Konga, the only authorised shop-in-shop for Starlink Internet kits in Nigeria, is offering its customers free same day delivery across all major cities in the country.

With prices of Starlink Internet kits slashed by 50%, Konga is delivering additional value so that both homes and businesses in urban and remote places can enjoy infinite possibilities with their internet on both their standard and enterprise installations. This offer which is available both online and in its retail stores nationwide is exclusive to new and existing customers this month.

With the improvement in prices on both original standard and enterprise Starlink kits, customers can now enjoy a global warranty and direct installation services by purchasing only on Konga.

Since the launch of the partnership with the Elon Musk owned satellite internet provider, Nigerians have continued to celebrate the uninterrupted supply of fast and efficient cyber network services from the authentic devices available on Konga.

In addition to Starlink, other unique items from leading global companies such as Apple, HP, Lenovo, Samsung, Zinox, Philips, Intel and many more are available at unbeatable discounts in the Konga Tech Month from the 1st and will run till the 31st of May 2024.

The Konga Tech Month was extended from its traditional 7day promotion to 30days to give more people access to exclusive deals throughout the month. To enjoy these mouthwatering offers, visit konga.com or any of its physical outlets today.


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