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Exhibitors Line up for First Lagos Motor Show

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Over 30 different brands of modern cars dealers as well as classic cars collectors have confirmed their interest to be part of the first edition of Lagos Motor Show holding between Friday February 16th and 17th 2024.

Engr. Gbenga Adebayo, chief executive officer of Royal Media Group – the organizers of the Motor Show disclosed at a media conference over the weekend that the Lagos Motor Show, will showcase Modern, Classic, Vintage Cars, Eco Friendly EV, Robotics and autonomous vehicles, Electric –Tricycles and E-mobility.

He added that, there will be an exhibition of new innovation and developments in the automotive Industry such as Internet of Things (IoT) in automobiles, energy efficient cars, Electric Vehicles and Compressed Natural Gas (CNG) powered low emission vehicles.

“The event will be an exciting opportunity to bring together car enthusiasts and their families, purchasers, decision makers and dealers. Our aim is that the show will be an annual event that will attract thousands of automotive enthusiasts, industry professionals, and media representatives.

“The highly anticipated event in the Nigeria automotive calendar, and will provide corporate brands with unparalleled visibility among industry leaders, influencers, and potential customers. It will record a high number of visitors who are automobile buyers, decision makers, motor enthusiasts, banks, insurance companies, small-scale auto-entrepreneurs, representatives of foreign trade missions and multinational companies,” he said.

                                        Key features of the Event

Targeted Audience: This is an opportunity to engage with a diverse audience, including car enthusiasts, industry professionals, and potential buyers, offering brands the chance to connect with a broad range of demographics.

The Show will offer an opportunity to interact with haulage, logistics, car hire companies, digital taxi companies, passenger transporters, financial institutions, Insurance, loans companies and other potential buyers and decision makers.

Networking Opportunities: Participate in exclusive networking events, connecting with key decision-makers, industry professionals, haulage, logistics, car hire companies, passenger transporters, and potential clients in a dynamic and engaging environment.

Corporate organisations including banks, insurance companies, financiers, auto-entrepreneurs and representatives from foreign trade missions and multinational companies will be in attendance.

Access to existing forum of owners and enthusiasts – The Classic Cars Collectors of Nigeria, a community of over 100 classic and vintage car collectors and enthusiasts, will showcase their collections.

Tech Theatre: A dedicated technology exhibition that will feature new innovation, Internet of things (IoT) in automobiles and other developments in the automotive industry, including Electric Vehicles, Electric Tricycles and gas powered low emission ECO friendly vehicles.

Charitable Donation: Part of the proceeds from this event and activities will be donated to charitable causes.


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PalmPay Named Among Top 250 Fintech Companies in the World by CNBC and Statista

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Africa-focused fintech platform, PalmPay, has been included in the 2024 edition of CNBC and Statista’s prestigious list of the “Top 250 Fintech Companies in the World.” This recognition underscores PalmPay’s rapid growth and significant contributions to advancing financial inclusion.

The CNBC/Statista list honours fintech pioneers significantly transforming the financial services industry through technology. More than 2000 companies were evaluated globally based on general and sector-specific KPIs to determine the final selection.

In 2024, some of the most influential fintechs in the world were included in the list, including Alipay, Nubank, Monzo, and Revolut. Six other African firms made the list: Flutterwave (Nigeria/US) – Payments; Kuda (Nigeria/UK) – Neobanking; MTN (South Africa) – Payments; Piggyvest (Nigeria) – Financial planning; and Yoco (South Africa) – Payments.

PalmPay has developed an integrated platform that caters to consumers and businesses in the African market. The startup, which has been operating since 2019, pioneered a unique model in Nigeria that provides financial services such as money transfers, bill payment, credit services and savings via a one-stop-shop fintech ‘superapp’ and mobile money agents.

This dual approach of easy-to-use digital banking, combined with offline touchpoints for those without smartphones, has contributed to driving financial inclusion in a market where more than 40% of adults remain unbanked.

In 2023, PalmPay announced a major milestone of reaching 30 million registered users on its smartphone apps and 1.1 million businesses in its network of mobile money agents and retail merchants. A third of PalmPay customers report that the platform was their first-ever financial account.

PalmPay has quickly grown to become a market leader in Nigeria thanks to its user-friendly interface, reliable transactions, and focus on driving market share through fee-free transfers and promotions. PalmPay processes 15 million transactions on its consumer app daily and maintains a 99.5% transaction success rate.

To achieve this scale in a market where 10% transaction failure rates were common, the company built out its payment infrastructure, channel integrations and transaction routing systems. In addition to its consumer wallet, PalmPay offers services to businesses that leverage the PalmPay platform via its suite of POS machines, APIs and checkout solutions.

“It’s an honour for PalmPay to be recognised by CNBC and Statista as one of the World’s Top Fintech Companies,” said Sofia Zab, Global CMO, “This recognition validates our unique approach to financial services and our commitment to driving financial inclusion. We are actively expanding PalmPay’s reach and offerings, ensuring more people have access to essential financial services and promoting economic development in emerging markets”

PalmPay operates in several key markets across Africa, including Nigeria, Ghana and Tanzania, with plans to expand further in the region and other emerging markets. The company has global HQs in China and London.


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WiDEF Launches Round of Technical Assistance to help Close the Gender Digital Divide

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The Women in the Digital Economy Fund (WiDEF) announced today the launch of its second competitive round, this time inviting applications from large private sector enterprises seeking technical support to scale proven solutions to significantly close the gender digital divide.

Announced by the White House in March 2023, WiDEF is a joint effort between USAID and the Bill & Melinda Gates Foundation to accelerate progress on closing the gender digital divide, managed by CARE, Global Digital Inclusion Partnership and the GSMA Foundation.

This round of support takes the form of tailored technical assistance to scale products, services or approaches that can significantly increase women’s access to and usage of the internet. It follows WiDEF’s     first round of funding and support that closed on May 6th 2024 for local organisations.

The technical assistance on offer aims to help to unlock opportunities to significantly close the gender digital divide, rather than supporting an enterprise’s ongoing “business as usual” activities. Examples of the kind of technical support private sector enterprises might apply for might include:

–  Research into the principal barriers and needs of underserved segments of women to inform actions to better support them to access and use digital technology and the internet

–  Evaluation of existing products and services for women to inform their evolution and wider usage

–   Testing specific approaches and services to ensure they best meet the needs of underserved women

–  Product adaptation and iteration, including the analysis of service usage data, user feedback and further design research

Business modelling and support for scaling products and services

“From our experience, we have seen how the right technical assistance can truly help companies unlock impact at scale.

“Through this new round, we believe we can deepen the private sector’s contribution to the closing of the gender divide across low- and middle-income countries, in line with the GSMA Foundation’s unwavering commitment to addressing this challenge,” said Max Cuvellier Giacomelli, Head of Mobile for Development, GSMA.

WiDEF will provide successful applicants in countries where USAID operates with tailored technical assistance for up to two years valued in the range of $50,000 to $150,000 USD. This support will be provided by the WiDEF Consortium and third-party suppliers engaged by WiDEF.

WiDEF aims to support commercially sustainable, scalable and evidence-based solutions to help close the gender digital divide. Successful applicants will need to articulate how their solution – and the technical assistance they draw on – will address at least two of the following core priority areas for WiDEF:

Improved access to affordable devices and online experiences

Increased availability of relevant products and tools

Elevation of digital literacy and skills

Enhancement of safety and security

Additionally, all applications will need to generate insights and data that expand the collection and use of gender-disaggregated research and analysis.

Full eligibility criteria and the application process can be found here. Applications are due by September 12, 2024.

 


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Reps to Donate 50% of Salaries to Fight Hunger

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House of Representatives at a plenary session on Thursday pledged to give up 50 per cent of their salaries for six months to address the hunger across the country.

During the session presided over by Speaker Tajudeen Abbas, Deputy Speaker Benjamin Kalu amended the motion, urging his colleagues to sacrifice 50% of their salaries. He made this plea when it was his turn to speak, seeking their support for this gesture.

“This government is doing its best but one year is not enough to address the challenges of this country. I want to plead with our colleagues to sacrifice 50 per cent for a period of six months.

“Our salary is N600,000 a month. I want to plead that we let go of 50 per cent of our salary for a period of six months,” Kalu said.

With each member paying N300,000 into a common purse, the legislative chamber will be contributing N108m monthly to the Federal Government and N648m for six months.


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