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QNET, Partners Award over N2m Prize to FinGreen Phase 2 Winners
QNET on Wednesday celebrated the graduation ceremony of the second phase of its FinGreen financial literacy program in Lagos, Nigeria.
This is an essential milestone in the firm’s commitment to empowering individuals and communities through the power of financial knowledge, the FinGreen graduation ceremony was a fitting tribute to the dedicated participants who completed the second phase of the program.
These individuals have gained invaluable financial knowledge and skills, propelling them toward a future where they can make informed financial decisions and manage their resources effectively.
Biram Fall, Regional General Manager of QNET’s Sub-Saharan Africa region, expressed immense pride in the impact achieved by FinGreen Nigeria in just two short months. He highlighted the interactive workshops and the unique train-the-trainer approach that empowered 25 FinGreen Ambassadors to educate over 750 young individuals in essential financial principles through the peer-to-peer module.
“This initiative not only imparts practical insights into budgeting, savings, investment, and entrepreneurship but also cultivates informed decision-making. We firmly believe in promoting entrepreneurship and enhancing financial inclusion among youths to fuel economic growth and development, and the success of FinGreen Phase 2 stands as a testament to this commitment. Our heartfelt encouragement goes to the beneficiaries to become knowledge beacons, sharing their learnings within their communities,” he said.
FinGreen, QNET’s signature Corporate Social Responsibility (CSR) program in Nigeria, aims to equip Nigerian youths and women with the financial literacy skills needed to achieve financial freedom. It seeks to train 6,000 young Nigerians in essential financial skills, including saving, budgeting, investment, entrepreneurial employability, and identifying financial opportunities.
Ajisafe Abiodun Hakeem, CEO and Managing Director of Transblue Nigeria Limited, shared his vision for FinGreen, which extends far beyond the initial goal of training 6,000 individuals. He emphasized that true economic impact in Nigeria can only be achieved by equipping citizens with the right financial knowledge. By doing so, people can make informed decisions, even in challenging economic times.
The execution of this training program, which aligns with the United Nations SDGs and the Addis Ababa Agenda to provide adequate skills and proper developmental training for all, particularly for youth, women and entrepreneurs, was made possible through invaluable partnerships.
Financial Literacy For All (FLFA), the program’s Content and Training partner, played a commendable role in developing all the training materials. They also conducted the Training of Trainers (ToT) workshop for the 25 alumni who would become FinGreen Ambassadors.
Another crucial partner, the Consumer Advocacy and Empowerment Foundation (CADEF), was responsible for recruiting, assessing, and tracking the participants’ performance. Their efforts were instrumental in monitoring learning outcomes and gauging development in various areas.
One of the standout features of FinGreen is its peer-to-peer training model. Young participants are trained to become FinGreen Ambassadors, who, in turn, train others within their communities. This ripple effect is at the heart of Fingreen’s mission to alleviate poverty in Nigeria.
FinGreen’s success is evident in its remarkable achievements. In its inaugural phase, 20 Ambassadors were trained, and they went on to train 572 participants. Now, in Phase 2, 25 Ambassadors have emerged, and over 700 participants have received training in their communities. In total, FinGreen has empowered around 1,500 young people across Lagos, Ogun State, Osun, and Oyo states.
Professor Chiso Ndukwe-Okafor, Executive Director at CADEF, highlighted the importance of educating individuals not only in financial literacy but also in understanding that wealth encompasses physical, emotional, financial, and spiritual well-being. This holistic approach to wealth creation is what can drive lasting change.
“The reason a lot of us don’t understand what to do with what is in our hands is because most of us have not been taught. Being taught financial literacy, it’s very important for everybody.
“They say in Nigeria we have a lot of problems which means there’s a lot of solutions waiting to be developed. Every problem has a solution or more than one solution.
“So this is creating opportunities in people’s minds to see and focus on solutions, not problems. Starting here, it’s something that takes us way ahead into the future of Nigeria,” she noted.
Laja Shoniran, Executive Director of Financial Literacy for All, recognizes the dire need for financial literacy not only in Nigeria but across Africa. In contrast to countries like the United States, where financial literacy is highly promoted, there’s a lack of stability in financial education programs in Nigeria. The work being done by FinGreen is poised to change that narrative.
“Financial literacy is very key to every one of us no matter what level you are. Unfortunately, all across the world, it’s in dire need. In America, they have a whole month dedicated to financial literacy. That’s to tell you how important it is. But in Nigeria and Africa at large, we don’t have such, although some African countries such as Namibia, Ghana and Nigeria have tried it, but it’s not stable.”
FinGreen is Investing in the Future
Among the graduates of the program, three participants stood out for their exceptional performance during peer-to-peer training. They were awarded seed funding and e-learning vouchers for courses on QNET’s learning platform. The first runner-up received N500,000, the second runner-up received N750,000, and the winner received N1 million.
Temitope Glory Adesemowo, the program’s winner, is determined to pass on the legacy of wealth creation to the next generation. She recognizes that true wealth is not just about being rich; it’s about creating a lasting impact through wise investments and financial discipline.
On what made her standout, she said: “I was myself all through the program, not trying to impress. I had my mind set on doing this and doing this well, my priority was not about me doing it well, but making sure that my students understood what I was going there to do. Even when it wasn’t convenient for me, I had my mind set up on these people understanding what I was going there to do. I achieved that.”
She attributes her success to her mentors and supportive family who played an important role in her journey.
“The seed capital is not just about creating an initial boost; it’s about setting an example,” Ajisafe Abiodun Hakeem, CEO and Managing Director of Transblue Limited said. “QNET and Transblue recognize that entrepreneurship and self-reliance are key to economic growth. Therefore, they support participants through internships and mentorship until they can start their businesses.”
FinGreen’s second-phase graduation is not just a celebration of individual achievements but also a reiteration of the transformative power of financial literacy. QNET, Transblue, and partners are lighting the way toward a brighter and more financially empowered future for Nigeria’s youth. Through knowledge sharing, mentorship, and a commitment to fostering entrepreneurship, they are sowing the seeds of economic growth and sustainable development in the nation.
News
Union Bank gets Multiple ISO Certifications
Union Bank has attained certifications in MSECB management system in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018.
MSECB is a leading international provider of audit and certification services for management systems based on a wide range of global standards.
A recent statement from the bank disclosed that it received the certifications following assessments of its management system covering information security, its service delivery, and business continuity standards under the combined Information Management Systems standards.
The information security management systems ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018 are internationally recognised standards that outline the requirements for establishing an effective information management system that guides against data breaches, IT system compromises, and disruptions to business processes.
Commenting on the bank’s recent attainment, Francis Mojoyinlola, Chief Information Security Officer at Union Bank, said, “The bank’s continued adherence to best international practices, as acknowledged by an independent third-party audit from a reputable international certification firm, reaffirms our capacity to erect, implement, and maintain best information and security management practices.
“We remain committed to offering our esteemed customers simpler, more innovative services rooted in the highest standards of information security and cutting-edge innovative banking service.”
The recent achievement by Union Bank follows the bank’s recertification of Payment Card Industry Data Security Standard version 3.2 and the International Organisation for Standardisation ISO/IEC 27001:2013 certification attained in 2018.
According to the lender, it further highlights its commitment to the strictest information management security standards while securing its pride of place as one of Nigeria’s most trusted financial institutions.
News
PalmPay Bolsters Lagos Agriculture Initiative with Effortless Payment Solutions
PalmPay, a leading fintech platform, has partnered with the Lagos State Government to bolster its agricultural initiative, offering robust payment solutions to empower residents and businesses alike with the necessary financial tools for success through the Food Discount Market initiative tagged – Ounje Eko.
Ounje Eko, meaning – Lagos Food, is a food intervention program by Governor Babajide Sanwo-Olu of Lagos State, aimed at providing succour to residents. This initiative is taking place across five (5) divisions of the State.
The Ounje Eko markets were opened at 27 locations in Ikeja; six in Lagos Island; nine in Ikorodu; five in Epe; and 10 in Badagry divisions. The food items – rice, beans, garri, bread, eggs, tomatoes, and pepper, among others – were sold at a 25% discount to residents.
Commenting on the initiative, Enakeno Umuteme, the Head of Marketing Communications, PalmPay, noted, “The Ounje Eko is indeed a laudable initiative especially as the country’s inflation rate stands at 30% according to the National Bureau of Statistics (NBS).
“PalmPay is privileged to have participated in the Ounje Eko Initiative and offered its support as one of the Independent Payment Solution providers to have partnered with Lagos State Government as payment platforms providing POS terminals as a means of payment.”
Mr Umuteme added, “At PalmPay, we are always committed to empowering individuals and businesses with the tools they need to thrive, and we believe that having supported this intervention, we were able to make a meaningful impact in our community.”
With PalmPay’s expertise in delivering secure and efficient digital payment solutions, coupled with its involvement in the discounted market initiative, both vendors and consumers can anticipate a seamless and user-friendly experience.
News
6 Ways Agritech can Revolutionise Grocery Aisles
By Diana Tenebe, Chief Operating Officer, FoodStuff Store
Forget grocery drudgery. Imagine vibrant shelves overflowing with fresh produce, thanks to a digital revolution on the farm. Agritech tackles food waste, not directly on store shelves, but throughout the food journey.
Globally, food waste is a staggering 1.6 billion tons, with a significant portion lost in supply chains. In Nigeria alone, 14 million tons are wasted annually. Here are 6 ways Agritech can offer a solution.
Precision Farming: Gone are the days of guesswork. Sensors and data analysis nowadays provide real-time insights, allowing farmers to optimise resource use and boost yields. Imagine perfectly nurtured fruits and vegetables! Additionally, agritech can analyse consumer demand and weather patterns to optimise harvests, reducing surplus that spoils before reaching stores.
Fresher, Faster Deliveries: The farm-to-store journey can be improved on so it is no longer slow and wasteful. Advancements in logistics, storage, and distribution ensure food arrives fresher and faster. Cold chain improvements and optimised routes mean fruits and vegetables retain nutrients and flavour all the way to the grocery aisle. Agritech can also play a role here by using sensors to monitor storage conditions and track shipments, minimising spoilage during transport.
Beyond Efficiency: Agritech isn’t just about optimising existing food systems. It can also be used in driving innovation. From plant-based alternatives to lab-grown meat, agritech across the world is pushing the boundaries of what we consider “food,” offering consumers a wider variety of healthy and sustainable choices.
Connecting the Dots: Traditionally, a complex web of middlemen stands between farms and supermarkets. This lengthens the supply chain, impacting both freshness and price. Agritech platforms disrupt this model by establishing a direct link between producers and retailers. Imagine farmers uploading their harvest information, including type, quantity, and quality, directly onto an Agritech platform. Supermarkets can then browse these offerings and place orders efficiently. This streamlined process eliminates unnecessary intermediaries, reducing costs and expediting delivery.
Extending Shelf Life: Research focuses on developing technologies like special packaging or coatings to slow down spoilage and extend the shelf life of perishables. These coatings might act as a second skin, regulating moisture loss and respiration rates, or even contain natural antimicrobials to fight off spoilage-causing bacteria. This not only reduces food waste but also keeps our grocery aisles stocked with fresher produce for longer.
Reducing Waste, Fighting Hunger: Agritech can connect supermarkets with organisations that collect surplus food nearing expiry. This food can be redistributed to communities or food banks, reducing waste and hunger.
Agritech’s digital revolution is transforming food production, impacting what ends up on our shelves, paving the way for a future with less waste and more abundance.
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