News
Doroki Partners Visa, Paga to Launch ‘Business Connect & Grow’ Platform
Doroki, a platform focused on digitizing small-to-medium businesses, announces the launch of Business Connect and Grow – a transformational suite of digital tools for small-to-medium businesses (“SMBs”) in partnership with Visa, and Paga.
The Business Connect and Grow platform will initially be focused on Nigeria. It will offer multiple digital payment collection methods and vital business support solutions. Over 5,000 merchants in Lagos have Business Connect and Grow already. Each of the partners will contribute uniquely:
- Visa will enable the issuance of Visa credentials as well as payment acceptance using Visa QR Code;
- Paga provides the robust payments infrastructure that powers the ledger, accounts, and payment rails for Doroki.
This announcement builds on the Visa-Paga partnership, formalised in March 2020 to drive digital acceptance and financial access in Nigeria. The Business Connect and Grow platform reinforces the continued commitment of Paga and Visa to help drive business growth across Africa.
SMBs will have access to an affordable mobile device configured with secure Visa payment acceptance for cards and QR codes. The application allows customers to pay however they wish – via cards, QR codes, bank transfers, USSD, payment links or nearby payments.
In the near future SMBs will also be able to initiate payroll, build credit history, receive micro-loans, and manage their working capital. The application is free to download; merchants who already use Paga’s payment collection suite can simply update their existing app and benefit from an enhanced customer experience.
As SMBs comprise 90% of all businesses in Sub-Saharan Africa, the market opportunity is significant.
Many struggle to sell efficiently, lack the systems and/or digital infrastructure to track inventory, and primarily trade in cash. Online retailers also face trust issues with customers who have to pay ahead with little-to-no recourse and poor delivery logistics.
Tayo Oviosu, Founder & CEO of Paga Group, commented: “Small and medium-sized businesses are 90% of Nigeria’s economy. There is a massive opportunity to digitize Nigeria’s largely informal economy and increase affordability for SMBs to make and accept digital payments.
“They need support to turn digital business to their advantage and to make life easier for consumers. Business, Connect, & Grow does this. Businesses in Nigeria struggle to sell efficiently, and our goal with Doroki is to leverage the payments infrastructure of Paga to solve their problems.”
Okusanya, Oluwakemi, Vice President, West Africa, Visa, said: “Connecting Nigeria’s small and medium-sized businesses to the digital marketplace is essential to help this core segment of the national economy fully recover from the effects of the COVID-19 pandemic and to drive renewed and sustainable growth.
“Visa recognises how important it is to support SMEs in joining the digital banking landscape. The Business Connect & Grow platform will enable them to create new jobs and new opportunities, access new payment solutions and bring positive, lasting change to communities.”
News
Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria
Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.
Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,
This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.
While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.
Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.
It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.
Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.
Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.
News
As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply
While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.
Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.
It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.
“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.
The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.
Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.
News
President Tinubu Appoints Jim Ovia as Student Loan Fund Chairman
President Bola Tinubu has approved the appointment of Jim Ovia, renowned banker and businessman, as the Chairman, Board of the Nigerian Education Loan Fund.
Ovia’s appointment is contained in a State House statement titled, ‘President Tinubu appoints Jim Ovia as Chairman of the Nigerian Education Loan Fund,’ and issued on Friday by Ajuri Ngelale, special adviser to the President, Media & Publicity.
The statement noted that “Ovia is the founder of one of Nigeria’s leading banks and a respected business leader, with a surfeit of efforts and benefaction towards nurturing and empowering young Nigerians.
“He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana.”
The National Student Loan Programme is a pivotal intervention that seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
The Nigerian Education Loan Fund, the implementing institution of this innovation, demands excellence and Nigerians of the finest professional ilk to guide and manage.
“The President believes Mr. Ovia will bring his immense wealth of experience and professional stature to this role to advance the all-important vision of ensuring that no Nigerian student suffers a capricious end to their pursuit of higher education over a lack of funds,” the statement partly read.
Ovia’s appointment will also ensure “that Nigerian youths, irrespective of who they are, have access to higher education and skills that will make them productive members of society and core contributors to the knowledge-based global economy of this century.”
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