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Africa Can End Capital Flight in Technology Space via NEPAD- Monaisa

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Mokgethi Monaisa, the consul-general, South African.
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Mokgethi Monaisa, consul-general, South African (SA) High Commission in Nigeria (since January 2012) believes that both countries share similar potentials and well-positioned to influence the continent’s economic developments.
Monaisa had worked as Ambassador for SA Embassy, Antananarivo; High Commissioner, SA High Commission, Cameroon; Ambassador, SA Embassy, Gabon and Director- Human Rights, Department of International Relations and Cooperation, Pretoria Area, South Africa.
To him, Africa shouldn’t have business importing technology from other continents. In this short interview with peter ugwu, at SAGE Software Day in Nigeria 2015, he also shares some insights into the unfortunate xenophobic incident in SA recently.

Nigeria & South Africa Economic Relationship
If we look back, we will remember that there is a bi-national commission between the two countries and normally what bi-national commission implies (at the top of agenda) is business and thus far there has been so many south African companies that have invested in Nigeria and there are also Nigerians business that are in a South Africa too.
The trade balance between the two countries is increasing but it favours Nigeria more, because South Africa imports a lot of crude from Nigeria and that is what tipped the scale in favour of Nigeria. And South Africa on the other hand exports consumer products into Nigeria.
The Trade figures are in the region of 45billion South Africa Rands (SA Currency). It is quite a huge Investment. So also our relations are not only at government to government level, industry to industry level, but also at people to people level.

Grey Areas in SA and Nigeria Bi-lateral Trades
I think there are vast manufacturing opportunities in Nigeria and that is the area which really has to be boosted.
Maybe, there could be a lot challenges that Nigeria is facing and these challenges could be based on Energy (Power) because when you drive industry you have to source plenty of electrical power and there are discussion in South Africa government also to try and boost manufacturing industry in Nigeria because we also want to be importing a lot of finished products from Nigeria and Nigeria also importing finished products from south Africa.
Also there is need for the refining of petroleum product in Nigeria which is another area that has to be boosted so as to be encouraging growth.
It is not good to be exporting a lot of our raw materials to other continents; and next thing, we don’t have to go and buy the finished product, so we need to redefine our own petroleum products.
And then we are looking forward to having more and more refined products being imported by Nigeria from South Africa.

Assessment on Level of Technology Evolvement in Africa Ecosystem
Some years ago our leaders on the continent conceived the idea of the New Partnership for Africa’s Development (NEPAD) and if we can all as, African countries implement NEPAD as proposed by our leaders I think that will go a long way to promoting technology in Africa instead of looking for technology solutions elsewhere.
We have a lot of brain-powers in Africa and we need to utilize them. And we have a lot of skills that we need to tap into too.
And we have in the Diaspora, Africans who are holding positions at certain industries abroad and we could bring them with those skills into the continent, and go into production and refines our product and NEPAD could be the vehicle to achieve that.
The aim or objective of NEPAD is to inter-trade and promote investment in the continent and also to stop cash flow outside of the continent.
While we don’t break ties with our friends abroad, either in Europe or America, we don’t wish to ‘de-capitalize’ but we wish to be equal.
They need to also come and import from us finished product so we should be dealing at the same level with them as equals.

Concern of Insecurity in the Continent
It is true we are growing and going through a tough time on the continent, we see a lot of terrorist activities now, and suddenly a lot of our countries are becoming targets of these activities.
Therefore, insecurity could be part of that but also we must remember that nobody will come from anywhere else to come and secure the continent for us.
We are the ones that will secure the continent, at the same time promoting investments, build infrastructure.
They will come and destroy that, but we should also have plans in place to rebuild and with that we can boost of stronger and improved results.
I think we need to concentrate on dealing with the insecurity. We need to be able to tell people outside the continent that they can count on Africa for investment. And we need to know that we are the one to secure the continent.

Aftermath of Xenophobia
South Africa has been safe for so many years for many Africans; that is why we find many Africans residing and doing businesses in South Africa. If South Africa was not safe then we won’t have found so many Africans in the country.
About the issue of xenophobia, xenophobia is evident all over the world, as every nation has its own brand of xenophobia.
And normally xenophobia is not a policy of any government. Xenophobia is always caused by a few people and it’s not a culture of any nation.
But you find that it is in a particular minority. You may find out that there are some tendencies like those in which most of them are driven by criminals.
For instance the last xenophobic incidences in South Africa, when you look at them, they were more of criminal elements driven by their own agenda because as much as there were lots of noise about it but when you sit down and recount, you will see that there were only one foreigner who died out of that and three South Africans.
The figures we know are seven and the other three who died were unrelated to the xenophobi. It was just that they happened during that time.
But the noise that was made you will think that people have been killed at random in South Africa and there was nothing like that. What also happen then was that some people post on social Media images that have no relevance to what was happening there.
For instance there were some other images that were picked up from what happened in Rwanda during the genocide. 
And then the picture depicted scenarios there were not reflective of the happenings in South Africa then.
It was only a few people in Durban, Alexander and Johannesburg that was all; South Africa will always be safe.
Even if you look there were countries that sent planes to collect their citizens but how many did really go back home?
You can count them and those who left even came back. So they will always be lot of people going to South Africa then just that tells you that South Africa has never be unsafe for anybody.

South Africa’s Expectation from Buhari Led Government
To South Africans, we hope the new government will promote democracy, push human rights and all the tenets of good governance, because they are key issues; good governance, human rights and democracy.
So, we know that Nigeria has also demonstrated that it could be one of the strong homes of democracy.
The way the elections took place and also the fact that a sitting president could be unseated through the ballot box speaks a lot about the democracy in Nigeria and we expect that the new government of Nigeria will also follow those good steps of promoting democracy and good governance.
So, we say congratulations to Nigerians for smooth elections and congratulations for exercising their right to elect the government they want.


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NBA Africa Urges Entrepreneurs to Apply for Funding

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NBA Africa, the local affiliate of the NBA basketball brand in the US, has announced the second edition of Triple-Double: NBA Africa Start-up Accelerator, which aims to promote the continent’s technology ecosystem and the next generation of entrepreneurs.

The NBA Africa Startup Accelerator will strengthen Africa’s technology ecosystem by providing mentorship and investment to the next generation of African tech entrepreneurs.

The organisation announced the initiative would once again be administered by ALX Ventures, a technological incubator that equips the continent’s innovators in technology with the knowledge and tools they need to develop and scale their enterprises.

Furthermore, NBA Africa named ServiceNow, an AI platform for business transformation whose Now Assist and AI agents help organisations in delivering ‘faster and smarter experiences’ at scale, as an official program partner.

The organisation stated that startups can apply to participate at tripledoubleaccelerator.nba.com until Friday, August 29, following which the applications will be filtered down to a top 10 list.

The shortlisted startups will then participate in a 10-week mentorship program, where they will be paired with mentors from NBA Africa, ServiceNow, and ALX leadership, as well as other corporate stakeholders, who will advise the companies on product development, business growth, and go-to-market strategy.

The finalists will next present their technologies to international industry professionals at the program’s second Demo Day in December, when the top five prize-winning companies will be chosen to receive financial assistance and mentorship.

“Last year’s inaugural Triple-Double Accelerator program showed how much talent, passion and creativity there is among African entrepreneurs who are shaping the future of the continent’s rapidly growing sport and entertainment industries,” said NBA Africa CEO Clare Akamanzi. “We look forward to reviewing this year’s submissions and to helping another round of promising startups take the next step in their development.”

Last year, almost 700 early-stage African entrepreneurs applied to the program.

Ten finalists were then chosen to pitch their products to a panel of international industry leaders at the program’s first Demo Day, which took place at the NBA headquarters in New York City.

Four prize-winning companies – Festival Coins (Nigeria), Salubata (Nigeria), HustleSasa (Kenya), and UBR VR (Egypt) – were awarded financial support and mentorship.

 


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Customs Ditches Fast Track Scheme for Authorised Economic Operator

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Nigeria Customs Service (NCS) is transitioning to its Authorised Economic Operator (AEO) Programme, meant to ease trade processes, after over a decade under the Fast Track Scheme.

Customs Ditches Fast Track Scheme for Authorised Economic Operator

The service is racing to meet international best practices under the World Customs Organisation’s (WCO) SAFE Framework of Standards, and contained in Sections 108 to 111 of the Nigeria Customs Service Act, 2023.

The programme, the Service said, is expected to reward “trusted traders” who meet specified “compliance, financial, and security criteria.”

Approved operators will benefit from “pre-arrival clearance, minimal inspection, expedited release, and possible mutual recognition with other customs administrations.”

“The scheme is also designed to build trust, ensure cargo integrity, and enhance the predictability and transparency of Nigeria’s import-export operations,” the Service said.

The current Fast Track Scheme, implemented by the Service in 2013 under a more limited eligibility model and was upgraded to an online-based model called Fast Track 2.0, introduced in 2023. The scheme will be officially decommissioned on 31 December 2025.

“All beneficiaries currently enrolled in the Fast Track Scheme are mandated to initiate their migration to the AEO Compliance Programme by submitting their applications through the dedicated portal,” Customs said, adding that only companies approved under the AEO Programme will continue to enjoy trade facilitation privileges previously accorded under the Fast Track scheme.

“AEOs may include manufacturers, importers, exporters, brokers, carriers, consolidators, intermediaries, ports, airports, terminal operators, integrated operators, warehouses, distributors and freight forwarders,” The Service wrote in a handbook.

It requires that an applicant for AEO certification must be an Economic Operator in the international supply chain.

It also added that “The applying entity must be registered with the Corporate Affairs Commission (CAC), with a registration period of at least 5 years for AEO Security and Safety (AEO-S) and a minimum of 3 years for AEO Customs Simplification (AEO-C).”

The company must hold a valid Tax Clearance Certificate, with a minimum coverage of 5 years for AEO Security and Safety (c) and at least three years for AEO Customs Simplification (AEO-C).

The company must also provide an audited financial report for a minimum of five years for AEO Security and Safety (AEO-S) and at least three years for AEO Customs Simplification (AEO-C).

Relevant operational licences must also be provided alongside other relevant regulatory certifications (ISO certifications, SON, NAFDAC, etc.).

AEO-S applicants must also require ISO 28001–an international standard that defines the requirements of the Supply Chain Security Management System and provides a management model for organisations seeking to implement it.

 


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NOA Warns of Fake N1000 Notes in Circulation, How to Identify Them

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National Orientation Agency (NOA) in Kwara has cautioned the public on fake N1000 notes circulating in the state.

NOA Warns of Fake N1000 Notes in Circulation, How to Identify Them

Alhaji Abdulganiyu Dare, state director of NOA, disclosed this in a statement issued in Ilorin.

Dare emphasised the need for vigilance among residents and business owners in the state.

According to him, there is confirmed intelligence reports of syndicates flooding the area with counterfeit currency with batch numbers 364232 and 898248.

Dare said the counterfeit notes can be identified by their blurred portraits, watermarks, and irregular security features.

He urged the public to be cautious when handling large sums of money.

“The syndicates behind this crime exploit peak commercial hours in major local markets to carry out transactions with counterfeit notes.

“They target unsuspecting POS operators and merchants by defrauding them of their hard-earned money.

“NOA Kwara Directorate is committed to sensitising the public on the dangers of fake currency and the importance of verifying the authenticity of banknotes.

“The agency is working tirelessly to ensure that residents of Kwara are protected from financial scams,” he said.

While describing the crime as unpatriotic and capable of distorting the Nigerian economy, Dare said NOA would work closely with security agencies to bring the culprits to book.

The director advised residents to report any suspicious transactions or individuals to the authorities immediately.

“Together, we can build a safer and more secure financial environment for all residents of Kwara.

“By working together, the NOA and the public can prevent the circulation of fake currency and protect the financial interests of Kwara residents,” he said.


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