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CBi Unveils Web-Based Solution to Help MSMEs

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Convention on Business Integrity (CBi), in collaboration with ActionAid and Lagos Chamber of Commerce and Industry (LCCI),  have unveiled a web-based solution (ethicsqed.cbinigeria.com) to help Micro, Small and Medium Enterprises (MSMEs) meet COSO 2013 standards.

 

The unveiling was detailed in a communique made available to the media in Lagos on Tuesday.

 

Mr Soji Apampa, chief executive officer, Convention on Business Integrity (CBi), explained that the web-based designed aimed at preparing MSMEs meet the COSO 2013 standards on internal controls and to establish certifiable anti-bribery, anti-corruption standards (ABAC).

 

Apampa said that notwithstanding the various challenges faced by businesses in Nigeria, MSMEs could distinguish themselves from other organisations by being compliant with international standards as a competitive edge and subscribing to the COSO 2013 framework.

 

He said that donor organizations as well as development banks have had cause to stop MSMEs from participating in their activities because of integrity issues in a process called Debarment.

 

“MSMEs in Nigeria are severely challenged by issues of undercapitalization, lack of records, difficulty to access of bank credit, high cost of doing business, irregular power supply.

 

“Additionally, inability to separate personal finances from business, corruption, infrastructural inadequacies like bad roads, government lack of interest in the sector, amongst a host of others summarily explain their challenges.

 

“Issues such as falsification of their year of incorporation, doctoring the value of reference contracts and tampering with the experience of key personnel.

 

“However, compliance with international standards and subscribing to the framework can help address these challenges and put your business in a vantage position to ensure competitiveness,” he said.

 

Presenting the business model of the platform, Mr Maduka Okafor, Information Technology Manager, Integrity Organization Limited,  explained that the value proposition of the platform was to enable MSMEs understand ethical and anti-corruption standards.

 

Okafor explained that it also served as a marketplace of service providers,  who provide regulatory interface services and also help MSMEs internally assess themselves and show credible evidence of conformance with standards and regulations.

 

He said that the customer segments expected to make use of the platform are International Donor Agencies, Banks and Other Financial Institutions, Venture Capital Firms, Large Enterprise Companies and most importantly MSMEs.

 

The manager disclosed that the key partners supporting the initiative are Center for International Private Enterprise CIPE, Department for International Development (DFID), other international donor agencies, financial institutions and service providers.

 

Okafor said that the platform was secure and compliant with the General Data Protection Regulation (GDPR) standards on data protection and covered the requirements needed to comply with the COSO 2013 framework.

 

“It includes segments such as having a controlled environment, risk assessments, controlled activities and information and communication.

 

A panel session headed by Mr Solomon Aderoju, chairman, Nigerian Association of Small and Medium Enterprises (NASME), agreed that more incentives could be used as a motivation tool to drive the usage of the platform amongt other benefits.

 

“MSMEs remain the backbone of major developed economies and they are important contributors to employment, economic and export growth.

 

“While MSMEs contribute 48 per cent of national Gross Domestic Product (GDP), account for 96 per cent of the private sector and 84 per cent of national employment; they are still faced with challenges hampering their growth.

 

“It is thus important for MSMEs to work towards thriving in this economy by differentiating themselves from the crowd and building processes on systems, not on individuals, in order to ensure sustainability,” he said.


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TikTok Picks Oracle to Provide ‘Secure’ Cloud Tech

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Enterprise software giant Oracle announced that it has been chosen to become TikTok’s “secure” cloud technology provider.

According to Oracle, this technical decision by TikTok was heavily influenced by Zoom’s recent success in moving a large portion of its video-conferencing capacity to the Oracle Public Cloud.

Oracle’s announcement comes after TikTok parent ByteDance last week said it will not be selling the video-sharing app’s US operations to software giant Microsoft.

This after US president Donald Trump signed an executive order on 6 August, blocking all transactions with ByteDance in an effort to address “national emergency” issues.

On 14 August, the US president issued an order that gave ByteDance 90 days to divest the US operations of TikTok.

Since then, US companies such as Microsoft and Oracle have been lining up as potential buyers for the popular short video app.

As the trade war between the US and China rages on, the US government has accelerated its efforts to purge Chinese apps and technology companies that it deems untrustworthy.

Trump and his administration raised national security issues, alleging the Chinese-owned company will share sensitive user data with the Chinese government.

“TikTok picked Oracle’s new Generation 2 Cloud infrastructure because it’s much faster, more reliable, and more secure than the first generation technology currently offered by all the other major cloud providers,” says Oracle chief technology officer Larry Ellison.

“In the 2020 Industry CloudPath survey that IDC recently released where it surveyed 935 infrastructure-as-a-service (IaaS) customers on their satisfaction with the top IaaS vendors including Oracle, Amazon Web Services, Microsoft, IBM and Google Cloud…Oracle IaaS received the highest satisfaction score.”

“As a part of this agreement, TikTok will run on the Oracle Cloud and Oracle will become a minority investor in TikTok Global,” says Oracle CEO Safra Catz.

“Oracle will quickly deploy, rapidly scale and operate TikTok systems in the Oracle Cloud. We are 100% confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok’s American users, and users throughout the world.

“This greatly improved security and guaranteed privacy will enable the continued rapid growth of the TikTok user community to benefit all stakeholders.”


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Inq. Acquires Vodacom’s Business in Nigeria, Others

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inq. Holdings Limited, artificial intelligence service provider, has acquired Vodacom Business Africa’s operations in Nigeria, Zambia and Cote d’Ivoire.

Inq. Acquires Vodacom’s Business in Nigeria, Others

It plans further acquisition in Cameroon subject to regulatory approvals.

Mr. Valentine Chime, managing director, inq. Holdings Limited, said the 100 per cent acquisition of the Vodacom Business Africa’s operations in the three countries was in pursuit of the company’s dream of building pan-African network that will help in creating better future through digital solutions.

Domiciled in Mauritius, inq. Holdings Limited is a subsidiary of Convergence Partners Communications Infrastructure Fund, a fund dedicated solely to communications infrastructure and related services and technologies across Sub-Saharan Africa (SSA).

Formerly known as Synergy Communications, the latest acquisition has grown inq.’s regional footprint with operations in 12 cities in seven countries across Africa. It has existing operations in Botswana, Malawi and South Africa with an additional investment in Mozambique.

“Under the inq. banner the company will embark on the next phase of building a unified Pan-African cloud and digital service provider, bringing to market a very relevant suite of next generation technology solutions in the fields of Edge AI, SD-WAN/NFV and Cloud,”Chime said.

According to him, with operations in major African cities of Lagos, Abuja, Port Harcourt, Kano, Gaborone, Lusaka, Ndola, Blantyre, Lilongwe, Mzuzu, Abidjan and Johannesburg, the inq. team prides itself on global best practice methodologies customised to local customs in each of the 16 cities, covering different sectors including banking, oil and gas, fast moving consumer goods, mining, health, real estate, information technologies, public sector and logistics.

“Covid-19 has accelerated digital transformation, and inq. is perfectly positioned to deliver intelligent connectivity through seamless delivery of cloud and digital services and  technologies to our clients. We are about simpler, seamless solutions,” Chime said.

 

 


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HP Lauds TD Africa, Says Tech Experience Centre will Unlock New Wave in Nigeria

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As Nigeria looks forward to the official launch of the Tech Experience Centre, globally renowned tech giant, Hewlett Packard Inc. (HP) has heaped praises on the management of TD Africa for spearheading the project, noting that the centre will herald a new technological wave in Nigeria.

This was disclosed by Ife Afe, managing director – Nigeria and District Manager – Central Africa (CAF).

Equally important, HP is one of the global Original Equipment Manufacturer (OEM) that will be represented in the Tech Experience Centre located within Yudala Heights at 13 Idowu Martins, Victoria Island, Lagos.

Consequently, Afe has expressed delight with the development, even as she disclosed that the launch of the centre will bridge the gap to complete technology adoption for millions of Nigerians.

She said: ‘‘I do believe Nigerians are early adopters of new and exciting technology. Having a dedicated space where people can view and experience cutting-edge technology across rich and diverse portfolio is an important step towards complete Adoption.

‘‘Technology is about transformation. This tech centre will serve as a bridge, taking people from the imaginative stage to the experiential stage, thereby unlocking a new technological wave.

“I am very glad that TD Africa is taking this bold step and I look forward to the great collaborations that will flow out of this initiative.’’

Furthermore, the HP Senior Management Executive reiterated the strong interest in Nigeria by the tech brand.

‘‘We are strong believers in the Nigerian project and the boundless potential inherent in the population when exposed to cutting-edge technology.

“We also value the foresight and vision of our long-time partner and co-developer – TD Africa. We are proud of this project and are confident of its success and positive impact not just in the sphere of business but also in human capital development,’’ Afe enthused.

On what to expect from HP in the Tech Experience Centre, she revealed that a lot is in store for every visitor.

‘‘HP is in the business of making life better for everyone, everywhere, hence revolutionary innovation in Health care, Security, Gaming and Printing Solutions will be showcased in the Technology Centre.  Cutting- edge, sustainable, diverse and relevant innovation in technology.

‘‘This brings technology closer to home. I believe that the ambience of the Tech Centre will cater to a wide spectrum of users: CEO’s, Government officials, entrepreneurs, tech enthusiasts, students, gamers etc. It will be the crucial meeting point of people and technology.

“Our wide spectrum of products and solutions will cater to all demographics – from first time users to specialists, professionals, gamers to moviemakers, work or play,’’ she affirmed.

The revolutionary Tech Experience Centre, the first of its kind in Africa, is set for launch on Thursday, October 1st 2020, incidentally the occasion of Nigeria’s 60th Independence Anniversary by 12noon, with the launch streamed live online for the benefit of tech enthusiasts.

Expected to officially commission the centre is the Minister of Communica99tions and Digital Economy, Dr. Isa Ali Pantami.

The Tech Centre is widely expected to boost Nigeria’s relevance in the global technology race and shore up the country’s march to technology independence.

For the first time, Nigeria will play host to the latest global technologies including those not normally available in Africa, offering all classes of visitors a first-hand experience of new gadgets, solutions and infrastructure that would have previously required a visit abroad, thereby saving corporate organizations, government establishments and individuals money or scarce foreign exchange expended on these trips.

 

 


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