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NASENI, Nasarawa State, Firm to Establish Tractor Manufacturing Plant in North-Central Geo-political Zone

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National Agency for Science and Engineering Infrastructure (NASENI) is set to collaborate with Nasarawa state government and Bobtrack Tractors, a division of Saint Bob Motors Limited to start the manufacturing and assembling of tractors in the north-central geo-political zone.

Left to Right: The Chief Executive Officer, Bob Track Ltd, Mr. Ibifiri A.C Bob Manuel; the Executive Vice Chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu; the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule, and Mr. Jerry of Bob Track Ltd, during a courtesy visit at NASENI Headquarters on Monday, April 22nd, 2024.

The facilities and infrastructure available at one of NASENI’s Institutes, Agricultural Machinery and Equipment Development Institute (AMEDI), Lafia, Nasarawa state will be used for assembling and manufacturing of the tractors.

According to the Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu, the project which is aimed at creating wealth and jobs for Nigerian youths is in line with President Tinubu’s Renewed Hope Agenda of ensuring food security and promotion of mechanized farming and agro-business in the country. Halilu disclosed this when the Executive Governor of Nasarawa State, Engr. Abdulahi A. Sule led a delegation comprising of Bob Track Tractors to pay a visit to the Agency’s headquarters in Abuja on Monday, April 22nd, 2024.

Mr. Halilu who assured Governor Sule and the delegation of NASENI’s readiness to do business with them, said, “the Agency is willing to partner with you and sign the memorandum of understanding (MoU) so that in the next couple of weeks we will move into action.”

He disclosed that Mr. President had recognized NASENI as a national brand and its National Tractor Recovery Programme wherein 55,000 tractors would be refurbished for mechanized farming nationwide.

In his remarks, Governor Sule said, he aligned with NASENI’s vision of collaborating and promoting made-in-Nigeria goods and also believed that government’s role is to provide a level playing field necessary for businesses to thrive.

The objective of his visit, he said, was to introduce the Bob Track Tractors which deals in assembling and manufacturing of tractor and farm implements with offices in Port Harcourt to NASENI so that it could utilize the existing facilities at AMEDI, Lafia for assembling of tractors instead of acquiring a new land for the business.

The CEO of Bob Track Tractors, Mr. Ibifiri A.C. Bob Manuel said, “We are ready to take up the facility that you have in Nasarawa State, create employment and wealth for the youths in the area and also use it as a hub to drive mechanized agricultural vision of the present administration. We are willing to invest in Nasarawa state with help of His Excellency, his team and NASENI.”


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SLTV to Create Jobs, Shore Nigeria’s Forex- Nwafor

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Metrodigital Ltd., homegrown satellite pay television and owners of Silver Lake Television (SLTV), has promised to impact positively on the lives of Nigerians and shore up foreign exchange for the country.

SLTV to Create Jobs, Shore Nigeria’s Forex- Nwafor

Dr Ifeanyi Nwafor, the company’s managing director who stated this in an interview in Abuja, said that the plan is to create thousands of jobs for the teeming Nigerian youths, adding that dealers were already springing up across the country.

“Each dealer will have his own installer and offices would be opened in this regard. So, SLTV is going to help in creating a lot of jobs and will also create another platform for innovations,” he said.

The businessman said Nigeria’s focus was on leading the world’s industry. He noted that the Nigerian music industry was already making waves worldwide and expressed hope that Nigeria’s indigenous pay-TV industry would also experience the same quickly.

‘’The success will bring in foreign exchange earnings for the country,’’ he said.


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How Virtual Accounts Can Help Businesses Manage Finances Efficiently

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Efficiently managing your business finances isn’t just a task, it’s the key to scaling your business for sustainable growth.

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Several tools exist today to help businesses achieve their financial management goals and establish themselves in a very competitive market.

One such tool is the virtual account, offering several benefits for multinational corporations, startups and SMEs, helping these businesses achieve their financial management goals while scaling sustainably.

In our article, “What is a virtual account and why you need it for your business,” we explained the basic concept of virtual accounts, including the types of virtual accounts, and benefits. Taking it forward with this SeerBit article, we explain the various roles that virtual accounts can play in ensuring businesses achieve efficient financial management.

  • Cash Flow Management

Virtual accounts offer a level of precision and agility that the traditional bank account does not offer businesses in today’s world. Virtual accounts give businesses more control over their funds, as they can easily segregate or compartmentalise funds for various expenses, regulate their cash flow in real-time and ensure safety for the business’ cash reserve. The ability to segregate funds for different short-term needs, such as supplier payments, tax payments, staff payments, and other long-term investments allows the company to make wiser financial decisions and ensures there will always be capital when it is needed.

  • Streamlined Reconciliation

Virtual accounts help to streamline reconciliation for your business, making the process seamless and fast by matching transactions with corresponding records for each unique virtual account. Every virtual account has a unique identifier, making it easy to match both outgoing and incoming transactions on the account with the business’ accounting records. This process is automated, consequently saving valuable time and reducing the possibility of human errors. Hence, you get accurate financial reporting in real time to make informed business decisions, thereby resolving disputes quickly and improving customer satisfaction.

  • Risk Mitigation

Virtual accounts play a crucial role in risk mitigation for businesses by providing an extra layer of security and control over financial transactions. The ability to segregate funds for specific purposes minimises the risk of mixing funds and potential misuse. Additionally, virtual accounts offer customisable access controls and permissions, allowing businesses to restrict access to authorised personnel only, thus reducing the risk of fraud and unauthorised transactions. This heightened level of security not only safeguards financial assets but also enhances trust and confidence among stakeholders, ultimately contributing to more efficient financial management practices.

  • Cost Optimisation

Virtual accounts contribute significantly to cost savings for businesses by streamlining banking operations and reducing associated fees. Through the consolidation of funds into virtual accounts, businesses can negotiate better terms with banks and optimise their banking relationships, potentially leading to reduced transaction costs and account maintenance fees. Furthermore, virtual accounts eliminate the need for maintaining multiple physical accounts, thereby reducing administrative overhead and freeing up resources for other strategic initiatives. By leveraging virtual accounts, businesses can achieve greater efficiency in their financial management processes while simultaneously lowering operational expenses, ultimately boosting their bottom line.

  • Adaptable and Scalable

Adaptability and scalability are other features of virtual accounts that make them effective for managing your business finances. They are customisable and flexible, and this allows them to adapt to whatever preferences or needs that your business has. It also means that you can configure your virtual accounts to meet specific objectives and requirements of your business. So whether you are just starting your business or already growing, virtual accounts can meet every business need at different points, even when you start to scale. This adaptability is good for your business, especially if you’re experiencing fluctuating sales volume.

Conclusion

Virtual accounts are an effective and versatile tool for your business to optimise the financial management process and enhance control and efficiency in the cash management system.

Switch to virtual accounts today!

 

 

 


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Instagram Celebrates African Women in ‘Made by Africa, Loved by the World’ 2024 Campaign

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In celebration of Africa Day on May 25, Instagram has launched its international and pan-African campaign ‘Made By Africa, Loved by the World’. In a first, this year’s Instagram campaign celebrates women of impact, spotlighting four trailblazing women from the continent and diaspora – all of whom have built a global presence through their exceptional talents and passions across sports, entertainment and music.

Now in its fourth year, the women featured in this year’s 2024 campaign hail from Nigeria, South Africa, Kenya and for the first time Egypt. Eniola Aluko, Bontle Modiselle, Victoria Kimani and Tasneem Elaidy tell their inspiring stories in four beautiful short films highlighting their successes, challenges and passions. Shot in collaboration with five rising filmmakers, Haya Khairat from Egypt, Michael Rodriques from South Africa, Nyasha Kadandara from Kenya and London based Nigerian Aaliyah Mckay alongside co-director Shehroze Khan, these films amplify the unique voices and stories of women who are changing the way Africa is viewed on the international stage.

As part of the campaign, Instagram is also partnering with local African content creators to host the third edition of its community challenge, ‘#ShareYourAfrica,’ bringing together emerging and established content creators to create a movement and celebrate what it means to be African.

Speaking about the campaign, Kezia Anim-Addo, Communications Director, Africa, Middle East & Turkey (AMET) at Meta, said, “For the fourth year running, we’re incredibly excited to shine a spotlight and celebrate just some of the amazing women from across the continent and beyond, who are having a remarkable impact globally. These are women who are contributing to positively shaping the female African narrative and inspiring change across football, music, entertainment and culture. At Instagram, we’re deeply rooted in culture and connection, and we know our platform provides the perfect space to showcase passions and creativity, whilst inspiring a worldwide audience.”

Meet the stars of ‘Made by Africa and Loved by the World’ 2024:

●      Bontle Modiselle (South Africa): An award-winning dancer and influential figure in the South African entertainment industry, Bontle has won numerous awards, including a ‘Africa Movie Academy Award’ and has travelled the world showcasing her impressive dance skills

●      Eniola Aluko (Nigeria): A trailblazer in women’s football whose contributions to the women’s game has made her a significant figure in the world of sports. Eniola has played for some of the world’s leading football clubs, and recently made history by becoming the first African female to make the board of Italy’s female top-flight football club FC Como Women.

●      Victoria Kimani (Kenya): A singer, songwriter and entertainer known for her distinctive blend of R&B, Afropop and Hip-Hop. Victoria has carved a successful path in the African music scene and beyond, collaborating with well-known local and global artists, and was once referred to by the Grammy Awards as ‘Kenya’s Best Kept Secret’.

●      Tasneem Elaidy (Egypt): A singer and songwriter with strong vocals whose songs have earned her international recognition, Tasneem started out on social media, releasing cover songs and original music. She went viral after releasing her version of a popular song and today, she has a growing audience of nearly 2 million followers on Instagram, 3 million on TikTok and over 100 million combined views for her music!

To view each short film, follow the four women featured on Instagram or via the Meta Africa Facebook Page.


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