9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial inclusion has reiterated its support to Nigerian women entrepreneurs and Small and Medium Scale Enterprises through its agent banking business opportunities that will scale up their revenue base and improve their standard of living at the 2024 South-West Women Chamber of Commerce and Industry, Emerging Market Emerging Market Summit and Expo.

The event themed: Women Entrepreneur as Catalyst for Sustainable Development and Economic Growth held at Lagos State Co-operative Federation (LASCOFED) aimed at training and empowering over 500 women participants on entrepreneurship skills and fostering market link and economic growth, had in attendance women entrepreneurs and SMEs owners across South-West region who have been using their skills and resources to make purpose driven contributions to the society.

Speaking at the event, the Chief Executive Officer, and Managing Director, 9 Payment Service Bank, Branka Mracajac, represented by the Head of Sales Distribution and Strategic Partners, 9 Payment Service Bank (9PSB), Kunle Isiaka commended the women for their resilience and viable contributions to their communities through the various initiatives and businesses.

‘’I am indeed very thrilled to see these amazons who have been breaking all barriers without limitation in all strata of the society, women are truly the bedrock of the society, when a woman is trained, a nation is of course trained, we cannot over emphasize the need for the women the be financially included, empowered, and given the required support to thrive.

It is understood that a reasonable number of the women folks lack the basic financial knowledge, and many are financially excluded from the formal financial system, this has impacted to an extend their means of doing business.

A report by EFInA states that at least thirty-eight million (that is, 36%) Nigerian adults still do not have a bank account but majority of them have phones, it also shows that four out of every 10 Nigerians are financially excluded, and they are mostly females.

In Lagos State, there are at least eight million adults between the 18 years and above who live in Lagos and more influents daily. Out of this number, 54% of adults are business owners or traders and 28% of them receive payment digitally. With this statistics, 9 Payment Service Bank is working and consolidating on these areas.

“In addition, 91% of Lagos adult females are currently financially served, 6% of women in Lagos have access to credit facility, while we focus on the 8% excluded Lagosian, although our license does not permit us yet to give out loans, but we are doing everything possible to ensure we support the women through our agent banking training geared towards women empowerment,” Kunle added.

“As a bank providing services to the banked and underbanked, we dwell on strategic partnership with other players in the industry because we cannot do it all alone, we have the mandate to drive financial inclusion and ensure that every household is financially included. Also, a robust agent network spreading across the country to facilitate financial transactions have been of tremendous progress.

“We have empowered over 18,000 agents out of which over 45 per cent of them are women. As we make progress in this journey, our Service Location Partners will continue to engage you at your various locations with necessary support to thrive as a merchant in the payment services industry,” he remarked.

Nigerian Communications Commission (NCC) has urged telecommunications operators in the country to embrace infrastructure sharing to reduce their operating cost.

Aminu Maida, executive vice-chairman of NCC,

This is coming on the heels of calls by both Association of Licensed Telecom Operators of Nigeria (ALTON) and the Association of Telecommunication Companies of Nigeria (ATCON) for cost-reflective pricing model after 11 years.

But during the 2nd edition of the West African Telecoms Infrastructure Summit and Exhibition at the weekend in Lagos, Aminu Maida, executive vice-chairman, NCC, said operators in the telecommunications sector could reduce their cost and enhance service delivery through partnerships.

Maidan was represented by Mr Victor Adoga, head, Next Generation Technology and Standards at the NCC.

He said the short-term remedy is public-private partnerships, infrastructure funds, and innovative financing models like Infrastructure as a Service.

He said, “Today, we boast of over 219 million mobile subscribers and a burgeoning tech-savvy population eager to harness digital technologies.

“However, while our growth has been remarkable, it has not been without its challenges. Issues such as uneven service distribution, infrastructural deficits, and regulatory uncertainties have occasionally hindered our progress.

“Yet, each challenge also presented a unique opportunity for growth and innovation.”

The NCC boss also advised the operators to embrace Artificial Intelligence (AI) and machine learning to optimize network management, predict maintenance needs, and enhance customer service through automation, and advanced analytics is also necessary.

“Another strategy is developing smart infrastructure, because as cities become smarter, telecom infrastructure must evolve to support an array of smart city applications, from traffic management systems to public safety solutions,” said the EVC.

Wale Owoeye, the Managing Director/CEO of Cedarview Communications Limited, a leading ICT firm based in Lagos State, has been honored as one of Nigeria’s 50 most influential personalities in the digital economy.

He received this prestigious recognition at the recent “50 Most Valuable Personalities in Nigeria’s Digital Economy” event held in Lagos.

Organised by IT Edge News Africa, the event brought together key stakeholders from various sectors, including prominent industry associations such as the Association of Telecommunications Companies of Nigeria (ATCON), Association of Licensed Telecoms Operators of Nigeria (ALTON), and the Association of Licensed Data Protection Organisations of Nigeria (ALDAPCON).

Dr. Vincent Olatunji, the National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Ike Nnamani, CEO of Digital Realty Nigeria, and Prof. Nentawe Goshwe Yilwatda, a distinguished scholar and politician, delivered keynote presentations.

Olatunji emphasized the crucial role of data protection in the digital economy, while Yilwatda outlined essential steps for Nigeria to maximize opportunities in the digital economy and the Fourth Industrial Revolution (4IR).

Nnamani, whose presentation focused on the “Myths and Realities of the Nigerian Digital Economy,” underscored the accelerated digitization of both consumer and enterprise sectors in Nigeria, driving demand for digital skills and data center capacity.

Gathering recognizes Owoeye’s exceptional contributions to Nigeria’s digital economy

The gathering recognized Owoeye’s exceptional contributions to Nigeria’s digital economy. With a remarkable career in Nigeria’s ICT/telecoms sector, Owoeye has successfully steered Cedarview Communications to expand its presence to Port Harcourt and Abuja, offering a wide range of Value Added Services (VAS) in the telecoms market.

Cedarview has also established strategic alliances in Asia, Europe, and the US to facilitate growth in its operational areas. Additionally, Owoeye serves as the VAS Coordinator for the Association of Telecommunications Companies of Nigeria (ATCON), further solidifying his impact on Nigeria’s digital economy.

Published since 2009, IT Edge News Africa is one of Africa’s leading technology and business publications.