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Earnipay Restates Bold Ambitions for the Financial Wellbeing of Salary Earners Across Nigeria

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Against the backdrop that salaried employees often run out of money between paydays or are in a fix when the money they have can’t take care of pressing needs and bill payments, earned wage access and financial service provider, Earnipay, has doubled down on its bold moves to drive employee wellness through its innovative and flexible on-demand access to earned salaries and the new addition of financial education product; MINT and savings opportunities.

L-R: Adedotun Adegbite, Marketing and Comms Manager, Busayo-Onome Oyetunji, Chief Operating Officer, Nonso Onwuzulike, Chief executive Officer, Chioma Nwandiko, Product Manager, Joshua Ajayi, Chief Technology officer, all from Earnipay, during an interaction with journalists in Lagos on Wednesday.

​​Given that most employees when hamstrung financially resort to either borrowing, taking a loan, or requesting a salary advance and the attendant challenges that go with these problem-creating options that include exploitative interest rates, embarrassment from loan sharks and predatory payday lenders or going down the rabbit hole of further debts, and a plummeting of salary advance schemes, Earnipay enables employers to offer employees access to their earned salaries instantly at any time without making changes to their existing payment process nor any cost whatsoever.

For as low as 250 naira only, Employees are able withdraw up to 50% of their daily earned salary or as accrued at the time of access, at any time of the month and at no interest to them.

Addressing a news conference on the giant strides made by the organization, Earnipay founder and CEO, Nonso Onwuzulike said, we are ensuring salary earners have a better control of their finances by developing a network of tools and an ecosystem that enables them to reduce the time to access money, and make better decisions on how they spend, save and invest. With Earnipay, Payday is any day – he buttressed.

He furthermore expressed his firm’s dedication to ensuring financial wellness for all income earners in Nigeria while adding that the organization has provided up to 100m naira of flexible salary access to employees since launching in January and expects to provide their services to 200 thousand employees by the end of 2022, thus positively contributing to Nigeria’s socio-economic agenda.

“We are ready to go all the way with employers to improve the livelihood of their employees and ultimately facilitate a better employee-employer relationship”.

Employers need to build their reputation as businesses that care and the imperative to demonstrate this empathy is premised on the fact that the traditional payday structure has become largely ineffective in employee welfare and development. Earnipay empowers businesses to attract and retain top talent in an increasingly competitive employee marketplace, improve team’s productivity and eliminate the financial stress that holds back employees from performing optimally on their jobs without any disruption to payroll structure and systems.

Chief Operating Officer, Busayo-Onome Oyetunji noted that the company has over 40 employers that it is working with and glowing testimonials of how this revolutionary product has helped individuals in their time of dire need.

“Top management and HR leaders share the exciting testimonies of their employees upon using Earnipay, they are pleasantly surprised at the extent of value they get from using Earnipay, it has become an essential tool for everyday living ” she quoted.

She further stressed, in the growing age of employees wanting more from their employers by being an important part of their lives and Employers looking for ways to improve their reputation and contribute to the wholeness of their employees, Earnipay comes as a reliable and trusted solution. “What is wholeness without financial wellness”

Earnipay which started as an idea in July, 2021 with an initial team of 3, launched in January 2022 and has since raised $4 million in seed financing led by early-stage venture capital firm Canaan, with other participating investors that include XYZ Ventures, Village Global – A seed stage firm backed by Bill Gates, Jeff Bezos and Reid Hoffman, Musha Ventures, Voltron Capital, Ventures Platform and Paystack CEO Shola Akinlade.

 


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Nigerian Journalists Recount Experiences @QNET’s 2024 V-Convention

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The 2024 V-Convention held in Penang, Malaysia has come and gone but its sights and sounds is still reverberating as Nigerian Journalists who had the rare opportunity of attending the event shared their experiences and the immense opportunities QNET is providing to people through direct selling.

The event, which brought together over 8,000 participants from 30 countries, showcased the global reach and cross-border partnerships, which are crucial for direct selling businesses to thrive, particularly in emerging markets like Nigeria.

While speaking at the 2nd VCON 2024 Media Experience webinar on Thursday, the two journalists that witnessed the event shared their personal experiences, insights and take away from the convention in Penang, Malaysia.

Recounting his experience at the event, Sulaiman Aledeh, A TV journalist with Arise, described the experience as thrilling. “The V-Convention was more than a business event,” he remarked.

“It was a gathering of individuals united by their passion for personal growth, entrepreneurship, and wellness. The energy and enthusiasm were unmistakable, and it was inspiring to witness so many people coming together to support one another’s goals.”

He further highlighted QNET’s business strategies while lauding their efforts in supporting education and law enforcement partnerships.

Aledeh added, “One of the things that struck me most about the V-Convention was the sense of community and camaraderie among the attendees. Everyone was there to learn, grow, and support each other, and it created a truly inspiring atmosphere.”

Peter Oluka, Editor of TechEconomy and another attendee of VCON 2004, echoed similar sentiments, describing the event as more than just a business convention.

For him, the gathering of entrepreneurs from diverse backgrounds created a powerful network of like-minded individuals passionate about innovation and entrepreneurship.

He was particularly impressed by QNET’s focus on environmentally friendly products, signaling that the direct selling industry has much to offer in terms of sustainable development.

He praised the diversity of the attendees, the informative workshops, and the focus on innovation and sustainability, and highlighted the opportunity to explore Penang and experience Malaysian culture.

According to Oluka, “The V-Convention was a life-changing experience for me. It opened my eyes to the possibilities of direct selling and entrepreneurship, and I am now more motivated than ever to pursue my own business goals.”

Earlier, Theodocia Quartey, QNET’s Senior Legal Counsel for Sub-Saharan Africa, highlighted the importance of the VCON media webinar, noting that “The event offered participants a chance to expand their product knowledge, interact with experts, and take advantage of vibrant networking opportunities. It reflects QNET’s steadfast commitment to innovation and sustainability.”

“Twice yearly, we brings together a diverse assembly of marketing professionals, experienced business leaders, and global entrepreneurs associated with the QI Group’s flagship business in Penang, Malaysia.

“During V-Conventions, QNET extends invitations to selected journalists from media outlets in Nigeria to experience this important event.

“The just-concluded V-Convention in September 2024 brought together over 8,000 attendees from over 30 countries. The theme of the event was “Unstoppable,” emphasizing QNET’s unwavering commitment to innovation and sustainability.

“V-Convention continues to provide a platform to empower individuals and communities worldwide and champion innovation and sustainability through deepening product knowledge, engaging with experts, and experiencing dynamic demonstrations.

“Attendees benefit from business training sessions, motivational speeches, and product exhibitions, providing them with invaluable personal and professional growth opportunities”.

Mr. Akeem Ajisafe, Managing Director of Transblue Limited, QNET’s legal partner in Nigeria, emphasized the significant potential of the direct selling industry for Nigerian entrepreneurs during the second VCON 2024 Media Experience sharing webinar.

Ajisafe emphasized the importance of direct selling as a path to personal and financial empowerment, and pointed out the industry’s rapid expansion, with the global market expected to reach $204.89 billion by 2032.

“Direct selling provides entrepreneurs with a unique opportunity to harness their skills and build successful businesses with minimal investment,” he stated.

Ajisafe also discussed the misconceptions about direct selling in Nigeria, stressing the need to differentiate between legitimate direct selling companies and pyramid schemes. “QNET is dedicated to ethical practices and transparency,” he affirmed.

“We are working to educate the public about the benefits of direct selling and to dispel negative stereotypes. We believe that Nigeria has a bright future in the direct selling industry. By embracing this model, entrepreneurs can create jobs, generate wealth, and contribute to the country’s economic growth.”

 

 


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MTN Nigeria Expands Digital Offerings with Audiomack+ Music Subscription

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MTN Nigeria, a leading ICT company, has partnered with Audiomack, a renowned music streaming platform, to introduce the Audiomack+ subscription program.

This strategic collaboration provides MTN subscribers with seamless access to premium Audiomack content, uninterrupted streaming, offline downloads, and exclusive features through convenient mobile payment options.

Audiomack+ offers three flexible subscription plans, enabling subscribers to discover emerging artists, underground music, and community-driven playlists. Music lovers can enjoy, Month Pass (N900/month): 30-day free trial + uninterrupted streaming, Week Pass (N400/week): Affordable weekly subscription and Day Pass (N100/day): Daily access to premium content.

“This partnership with Audiomack reinforces our commitment to delivering value-added services to our customers,” said A’isha Mumuni, Chief Digital Officer of MTN Nigeria.

“We’re excited to offer our subscribers an easy and affordable way to access premium music content, empowering them to explore new music and support their favorite artists.”

David Ponte, Audiomack Co-Founder and CMO, added, “Our partnership with MTN Nigeria brings us closer to making music accessible to everyone.

“With Audiomack+, we’re proud to offer affordable premium streaming options, providing users in Nigeria with the best music experience possible.”

To subscribe to the Audiomack+ monthly plan, text APM to 3134 or visit Audiomack+ Month Pass. Alternatively, customers can text APW to 3134 or text APD to 3134 for weekly or daily subscriptions.

Through its strategic partnership with music streaming platforms, MTN Nigeria reinforces its commitment to providing enhanced and innovative digital experiences to customers.


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Elon Musk’s X Slammed with $418,000 Fine in Australia for Failing to Provide Child Protection Data

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An Australian court has upheld a decision requiring X, formerly known as Twitter, to pay A$610,500 ($418,000) fine after failing to cooperate with a request from the nation’s eSafety Commissioner.

The request was for detailed information about the platform’s efforts to tackle child sexual exploitation material.

X initially contested the fine, arguing that a corporate restructuring in 2022, when Elon Musk took Twitter private and merged it into a new entity, freed the company from having to comply with the request issued in early 2023. However, the Federal Court of Australia disagreed, ruling that the platform was still bound to provide the information.

Julie Inman Grant, the eSafety Commissioner, noted that if accepted, it could have set a dangerous precedent. She stated that such corporate mergers could allow international companies to sidestep regulatory obligations in Australia, undermining internet safety efforts.

The penalty relates to a current inquiry into how tech companies, including X, are managing harmful content, particularly involving child protection. The eSafety Commissioner had requested specific details on the platform’s anti-child abuse strategies, which X failed to provide. In addition to the fine, civil proceedings have also been initiated against the company due to its noncompliance.

Musk’s X has faced previous clashes with the Australian internet safety regulator. Earlier this year, the eSafety office ordered the platform to remove content showing a violent incident involving a bishop being attacked during a sermon.

X challenged that directive, arguing that regulators in one nation should not dictate what content is visible worldwide. The Australian regulator eventually dropped the case, and X kept the posts online. Musk criticised the order, labelling it as an act of censorship and linked it to a larger agenda by international bodies like the World Economic Forum.

This latest legal setback adds to Musk’s growing list of challenges in managing the platform since his takeover, particularly as it continues to face questions from regulators around the world.


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