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Nigeria @ 63: Collective Actions to foster Nation-Building

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By Tony Elumelu

As we celebrate another year of independence, it is time to reflect, to look in the mirror, for our nation and ourselves.

Tony Elumelu

 

We know Nigeria, we love Nigeria, Nigeria is one of Africa’s most diverse and dynamic countries. We are a nation that excites, beguiles, and dreams. Yet, amidst our diversity and that potential that we all feel, we have faced so many challenges. These challenges ask us to answer a fundamental question: What is our collective responsibility in nation-building?

The destiny of Nigeria lies firmly in the hands of its people – you and me. I am an optimist and I believe strongly in the potential of our nation. We must work together to create the progress we so desire through innovation, and with unity in diversity.

In August, I spoke to the Nigerian Bar Association Annual General Conference in Abuja. At the time of a new administration – and without doubt some of our toughest times economically, I spoke about our collective responsibility as Nigerians, and what we must do to foster nation-building.

My prescription, my advice, my philosophy is simple:

1. Unity.
We must set our differences aside and be united with one ambition, and one duty – nation-building. Whatever our backgrounds, geographies, religions, and experiences let us ensure that our country experiences a true renaissance.

2. Celebrate our Global Success.
We know the potential of Nigeria.

We know the resources, human and natural, that Nigeria has at her disposal. We must learn to champion the successes of Nigerians globally – in international leadership positions at the WTO, at the UN, at the African Development Bank, at the Afreximbank, in technology, in music and entertainment, in business, in arts and in media, in film, in sports.

We see these replicated at home – what we need to do is unleash our potential, create that enabling environment in Nigeria.

3. Business Excellence.
The Nigerian private sector is showing globally our capability, our ingenuity, our institutionalisation. We have global businesses with Nigerian origins. For instance – UBA, the United Bank for Africa, the only African Bank that operates in the USA, as a deposit-taking bank. We are now in Dubai, Paris, and London – and just as importantly 20 other countries in Africa. Who would have thought 20 years ago, that Nigeria would be home to Africa’s global bank!

The private sector must continue to surpass its own achievements and continue to put Nigeria on the map.

4. Shared Responsibility
Nation-building is a call to arms – a vital task – a necessity.

At its core, nation-building is the intricate process of forging a cohesive, harmonious, and united society, out of diverse individuals, cultures, and ideologies. It is the art of constructing a shared identity.

Transforming Nigeria is a journey that demands our collective dedication, building across political affiliations, ethnic differences, and socioeconomic differences.

One that is not the responsibility of our government alone. Great nations start with great people, not just great leaders.

5. A Shared Ambition Across Our Society.
Our private sector, our philanthropies, our civil society, all citizens must be brought together and be empowered – as real, valued and executing partners for this national renewal, this nation building.

6. Love For Country.
Let Nigeria be at the centre of our hearts. Let us invest in the brand Nigeria.

We have no other place, no other motherland than Nigeria. We must begin to show and share a sense of pride in Nigeria. We must begin to rekindle our hope and have confidence in Nigeria and in our leaders. Let us be proud of Nigeria.

The responsibility of nation-building falls upon each and every one of us. To truly build a strong and prosperous nation, we must be more conscious and dedicated in our efforts.

Let us be inspired by the lessons of history, motivated by the sacrifices of our forefathers, guided by the wisdom of our elders, and energised by the aspirations of our youth.

Together, we can build a nation we can all be proud of.

Celebrate 63!

#TOEWay


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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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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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