General News
ALTECH in Fight against Telecom Capital Flight
In the last ten years, telecommunications business in Nigeria has been branded the fastest growing business in Africa and the world, with an investment turnover of $18 billion (N2.8 trillion) from Foreign Direct Investment (FDI) however, investigations have shown that only about 20 per cent of such amount remained in Nigeria as the greater part of the money left the shores of Nigeria through capital flight.
The blamed, as it has always been, could be deduced from poor internal manufacturing base of the country and the non-patronage of locally manufactured products while local content development paradigm remains allusive.
Since Global System for Mobile communications (GSM) was introduced to Nigeria, one area that mostly hurts the industry and the country at large is the inability of the government to ensure all transactions related to printing of recharge card vouchers and other associated plastic cards are wholly localized.
Sola Bajomo, business development manager, ALTECH West Africa Limited, the largest recharged card manufacturing company in West Africa, while speaking to Nigeria CommunicationsWeek at the just concluded CardExpo 2012 said telecoms return on investments (RoI) would continue to depreciate if the situation lingers.
Vouchers are valuable in mobile phones and internet usage. For definition purpose, a voucher is a bond worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include (but are not limited to) housing, travel, and food vouchers.
The term voucher is also a synonym for receipt and is often used to refer to receipts used as evidence of, for example, the declaration that a service has been performed or that expenditure has been made.
In telecom business, voucher is a recharge number sold to a customer to recharge their SIM card with money and to extend the card’s availability period. Vouchers are typically sold at retail outlets, such as phone stores run by the mobile operator or by distributors, grocery stores, and gas stations.
They are the prevalent form of recharge for prepaid mobile phone. For instance, in countries such as Italy and Spain well over 90% of consumers use vouchers and the UK where over 60% buy vouchers at retail.
In other countries such as the United States, Ireland, and many Nordic countries, there is a growing trend of customers using Card Not Present recharge options such as online payments, or by using their mobile handsets to call the operator and recharge with a representative (CSR) or through their IVR (Interactive Voice Response) system. A growing number of prepaid mobile operators such as Meteor in Ireland and T-Mobile USAare offering the option to send an SMS (text to pay), or use handset applications such as WAP or BREW technology. in the northern times
For internet purposes, a voucher can also be used online in the form of an e-voucher. These types of vouchers can be entered when shopping online and the relevant vouchers value added to your order. It can take the form of any code.
Many companies have opted to use voucher codes for the last few years but with a massive incline in use towards the end of 2008/early 2009.
There are many internet websites devoted to promoting these deals and vouchers online, as well as Facebook groups offering items such as student discounts and 2-for-1 restaurant voucher deals.
Apparently, there are a small number of sites that use a disreputable method of click to reveal method for dropping cookies on the consumer’s computer, which has led to the introduction of guidelines for voucher use in Internet Marketing.
More so, most video game special editions come with a voucher for exclusive content in-game. For example, the Gran Turismo 5 Collector’s Edition comes with a voucher for 5 exclusive DLC “Chrome Line” cars for the full game.
Also, pre-ordering games at certain shops may get you vouchers to content only available if you pre-order at that store.
That is the more reason, Nigeria must ensure the gains accruable from this business can be harnessed to better the worth of the people, particularly the army of youths seeking employment. Even in tourism, vouchers are used as proof of a named customer’s right to take a service at a specific time and place. Service providers collect them to return to the tour operator or travel agent that has sent that customer, to prove they have given the service. So, the life of a voucher is as below:
Also, voucher serves as an accounting document representing an internal intent to make a payment to an external entity, such as a vendor or service provider.
A voucher is produced usually after receiving a vendor invoice, after the invoice is successfully matched to a purchase order.
It usually contains detailed information regarding the payee, the monetary amount of the payment, a description of the transaction, and more. In accounts payable systems, a process called a “payment run” is executed to generate payments corresponding to the unpaid vouchers. These payments can then be released or held at the discretion of an accounts payable supervisor or the company controller.
Any documentary evidence supporting account entries, establishing the arithmetic accuracy of the transaction, may also be referred to as a voucher—for example, a bill, invoice, receipt, salary and wages sheet, memorandum of association, counterfoil of paying-in slip, counterfoil of cheque book, trust deed, etc.
That’s why ALTECH West Africa limited with a 70 per cent market share in recharged cards in Nigeria deserves commendation for her effort in combating the flight as witnessed today.
The company’s 70 000 square feet manufacturing facility has an annual capacity of 1.2 billion paper products and has the capacity to print and deliver over 1 million plastic cards per month to private and corporate clients. The plastic card plant can manufacture and personalise various types of cards including smart cards with contact, contactless and magstripe and is certified by VISA, Interswitch and eTranzact.
The company also provides e-Security Solutions in affiliation with Symantec, Verisign and eiQSecureVue.
Interestingly, the paper printing facility is equipped with the latest technology and has an installed capacity of 100 million paper product per month. We have the capability to print high quality secure and non secure paper products. “Our paper production facility is segregated into secure and non secure section to provide our different clients with the highest level of security.
“At the secure paper section, we can produce and personalize any type of card products that the customer desires with the highest level of quality and security. We incorporate features that are difficult to replicate, simulate, transpose and alter.
“Some of the features of that we can incorporate into the cards include: Hot-stamped holographic foil, 2D holographic foil, Magnetic stripe and we have the capability to incorporate variable data across the entire card to include PIN data, card serial numbers and expiry date,” Bajomo said.
She expressed the company’s concern on the level of capital flight in the country, stressing that the situation, “weakens the Naira and depletes Nigeria’s foreign”.
She believes that the sector can become better managed when steady power supply and other basic infrastructure are guaranteed.
General News
7,500 African SMEs to Receive AI and Digital Trade Skills Through New Google and AfCFTA Secretariat Programme
Thousands of small and medium-sized enterprises (SMEs) across Nigeria and the African continent can now gain critical AI and digital skills to expand their businesses and trade continent-wide. Google and the African Continental Free Trade Area (AfCFTA) Secretariat have launched the ‘AfCFTA Digital Inclusion & Entrepreneurship Programme,’ a new, free training initiative powered by the Google Hustle Academy.
Small businesses are the backbone of Africa’s economy, generating nearly 80% of jobs across the continent. This programme is designed to close the digital skills gap by providing entrepreneurs with AI-powered solutions and localized training that addresses the real-world demands of today’s market. The initiative will build on the success of the Google Hustle Academy, which has supported over 18,000 SMEs across Africa since 2022.
H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, commented on the partnership’s significance. “The Programme aligns with the transformative goal of the AfCFTA, particularly outlined in the Protocol on Digital Trade and the Protocol on Women and Youth in Trade, to position MSMEs, women, youth, persons with disabilities, rural farmers, and other stakeholders as key drivers and beneficiaries of the AfCFTA. It is the demonstration of our commitment to fostering digital inclusion and empowering MSMEs to trade under the AfCFTA using digital technologies.”
“Technology is a powerful equalizer, and this partnership is about providing thousands of African entrepreneurs with the practical tools and knowledge to unlock new opportunities,” said Charles Murito, Google’s Regional Director for Government Affairs and Public Policy in Sub-Saharan Africa.
“By focusing on critical areas like AI, e-commerce, and cross-border trade, we’re helping to build a more connected and prosperous digital ecosystem across the continent. This is a testament to our ongoing commitment to Africa’s vibrant and dynamic business community.”
A Curriculum for Continental Growth
The training focuses on action-oriented learning through three core modules, and will be delivered in English, French, Arabic, and Portuguese to ensure accessibility for entrepreneurs across Africa.
Cross-Border Digital Trade: Co-created with the AfCFTA Secretariat, this module turns policy into practice. Entrepreneurs will learn to find new markets, adapt products, and master the logistics of cross-border payments and shipping.
Cloud for Small Businesses: This module focuses on using cloud tools to boost efficiency and cut costs. Participants get hands-on training with Google Workspace for teamwork and Google Cloud for secure operations.
AI for Productivity: This module provides practical skills to scale a business using AI. Entrepreneurs will learn to use tools like Google Gemini to automate tasks, create marketing content, and analyze customer data.
UpSkill Universe, a leading digital skills training provider, will manage the programme delivery. “Entrepreneurs across Africa are already driving change. We recognise the challenges they face, from the rise of AI to shifting customer behaviours,” said Gori Yahaya, CEO of UpSkill Universe. “This collaboration ensures we can equip businesses with the practical tools and technologies they need to grow, scale, and thrive.”
Eligibility and Application Details
Applications for the programme are now open. The initiative is designed for SMEs that have been in operation for at least six months and are based in selected AfCFTA member states, including Nigeria, Kenya, South Africa, Ghana, Cameroon, Senegal, Togo, Côte d’Ivoire, Rwanda, Mauritius, Ethiopia, Tanzania, Namibia, Zambia, Angola, Mozambique, Egypt, Tunisia, and Morocco.
General News
Mastercard and Zenith Bank Launch Essential Debit Card to Boost Financial Inclusion in Nigeria
Mastercard and Zenith Bank have collaborated to launch the Essential Debit Card, scalable solution designed to enhance access to secure digital payments in Nigeria.
L–R: Oluwadamilare Mesimo, Director, Account Management at Mastercard; Dr. Folasade Femi-Lawal, Country Manager for West Africa at Mastercard; Dame Dr. Adaora Umeoji, GMD/CEO, Zenith Bank Plc; Dr. Adobi Nwapa, Executive Director, Zenith Bank Plc; Dr. Celestina Appeal, AGM/Group Head, Card Services, Zenith Bank Plc.
The card is tailored to meet the everyday financial needs of underserved populations, including low-income earners, who have historically faced barriers to formal banking services.
The introduction of this card comes at a time when Nigeria’s digital economy is gaining significant momentum. According to data from the Nigeria Inter-Bank Settlement System (NIBSS), electronic payment transactions reached ₦1.08 quadrillion in 2024, an 80% increase from ₦600 trillion in 2023.
Point-of-sale (PoS) transactions also surged to ₦19.4 trillion, an 81% year-on-year rise, reflecting the growing trust among consumers and merchants in digital platforms and a rising demand for accessible financial tools.
Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa at Mastercard, said: “At Mastercard, we believe that inclusion fuels innovation, and innovation must be inclusive by design.
The Essential Debit Card offers a gateway to economic opportunity for millions. Through this collaboration with Zenith Bank, we are scaling impact by meeting people where they are, with the tools they need to thrive in an increasingly digital world.”
Dame Dr. Adaora Umoji, OON, Group Managing Director/Chief Executive at Zenith Bank plc, said: “This launch aligns with our ambition to drive financial inclusion at a larger scale.
“By offering an affordable, secure and practical digital payment solution, we’re empowering more Nigerians to participate in the formal economy, supporting not only individual progress but national economic growth.
“Together, we’re breaking barriers to everyday commerce and moving a step closer toward closing the financial inclusion gap in Nigeria.”
Zenith Bank began issuing the Essential Debit Card in July 2025 across its national network of physical branches and digital platforms. Customers can choose between a physical or virtual card, depending on their preferences.
As one of the first tier-one banks in Nigeria to adopt Mastercard’s Essential Debit framework, Zenith Bank is strengthening its ability to reach high-potential, underserved market segments through simplified onboarding and lower issuance cost.
By combining Mastercard’s global network and trusted technology with Zenith Bank’s nationwide reach, the Essential Debit Card delivers a simple, secure and affordable payment solution that aligns with how Nigerians live, work and transact today.
This collaboration reinforces a shared commitment to unlocking inclusive growth and accelerating the transition toward a more digitally empowered economy.
TD Africa, West Africa’s leading technology distribution giant, reaffirmed its industry leadership at the Schneider Electric Innovation Day Nigeria 2025, an event that brought together the country’s most influential stakeholders in technology, energy, infrastructure, and public policy.
The gathering, which doubled as Schneider Electric’s 25th anniversary in Nigeria, attracted more than 450 participants, including IT partners, automation engineers, electrical consultants, architects, prescribers, end users, and senior government officials.
This year’s theme, “Unlocking Nigeria’s Energy Future: Policy, Innovation, and Investment,” focused on accelerating strategic conversations around energy transition and national development.
A major highlight of the event was the signing of a landmark Memorandum of Understanding (MoU) between TD Africa and Schneider Electric for the joint development of Future-Ready, AI-Powered Data Centres across Nigeria.
These next-generation facilities, built for both Core and Edge environments, are expected to play a pivotal role in strengthening Nigeria’s digital infrastructure, aligning directly with the country’s ambitions for resilience, sustainability, and technological advancement, and supporting emerging technologies, and enabling enterprises to compete globally.
Signing on behalf of TD Africa was Dr. Leo Stan Ekeh, Chairman of the Zinox Group, whose presence underscored the significance of the alliance.
In his remarks, Dr. Ekeh described the partnership as a significant stride toward the nation’s digital evolution. “This partnership is a testimony to TD Africa’s commitment to championing Africa’s digital future.
“Building AI-powered, resilient, and sustainable data centres is not just an investment in technology; it is an investment in the competitiveness of Nigerian enterprises for the next decade.
“Together with Schneider Electric, we are building the infrastructure that will support a smarter, greener, and more prosperous Nigeria,” he stated.
The ceremony also featured contributions from notable industry leaders, including Walid Sheta, Zone President, Middle East & Africa; and Canninah Dladla, Cluster President, Schneider Electric.
Senior executives from the Energy Commission of Nigeria, Rural Electrification Agency (REA), Nigeria LNG, Aradel Holdings, SEforALL, and several key government agencies participated in panel discussions that underscored the urgent need for transformative partnerships, policy alignment, and long-term investments to support Nigeria’s evolving energy and digital landscape.
With this new MoU, TD Africa strengthens its long-standing reputation as a catalyst in West Africa’s digital transformation. The collaboration synergises TD Africa’s expansive distribution network and technological influence with Schneider Electric’s global expertise in energy management and automation.
The result will be a new class of data centre infrastructure that is secure, energy-efficient, scalable, compliant with global sustainability standards, and capable of supporting Nigeria’s rapidly expanding digital economy.
As Nigeria looks ahead to a future powered by innovation and clean energy, TD Africa remains committed to driving the partnerships, ecosystems, and infrastructure that will secure the nation’s digital competitiveness for years to come.
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