E-Financial
Sage partners ACCA, to assistant accountants develop technology skills
By peter oluka
Sage (Africa) has entered into partnership with the Association of Chartered Certified Accountants (ACCA), Nigeria, in a move to add more values to the profession, especially where strategy matters.
The partnership, Director, Partners, Accountants and Alliances, Sage Africa & Middle East, Laurica Kok, said in an interview with our correspondent, is strategic and will help expose Sage’s products to a broader market.
“ACCA is a renowned organisation within our business circle. It is a strategic alliance for us; it is a journey that exposes our products into a broader market which they hold the audience hub. I also see it as a very good fit. Sage is passionate about the accountants. Globally, ACCA holds that connection for us. It is also a partnership that will help drive the message for Sage to be seen as one-stop-shop for accounting solutions; it will impact their profession and businesses.
“Through this partnership we are growing Sage ‘ambassadors’, those who would tell others better about our products in accounting environment”, Kok comments.
According to her, Sage supports business from start-up or entry level to the enterprise level. “Secondly, Business builders are seen across segments; specifically, we can offer accounting, payroll, payment systems as consolidated application. “Thirdly, business model for us is just to serve the customer; empower the community and the environment the customers find themselves in. That is the differentiator for us in the market. We work, in our region, with partners that support that vision.
Relishing the importance of the partnership, Head of ACCA, Nigeria, Mr. Tom Isibor, described it as massive.
“Like I said earlier, five years ago, we started a research which clearly shows what the accounting of the future should be, what competencies, behaviours, skills do you need to have to be able to distinguish ourselves from other profession and make ACCA as a preferred qualification.
“The basic is digitalisation. Sage is global powerhouse in terms of building and delivering accounting software and solutions. We believe they can give us that perfect solution we have been looking; also fill the skills gaps of our members, make them more work ready and more preferred accountants in the market. Thus, it is all about building capabilities, capacity for our members.
“For instance, the Sage University promises to give us access to up our skills. We also look forward to this platform supporting our student-members and others searching for places for industrial (training) attachments.
“The other opportunity which is also very big to me, is giving back the society in terms of what the Sage community believes in; the corporate social responsibility (CSR) is huge. I also see an opportunity that ACCA and Sage can exploit on. In this environment, there is so much to give back to the society. So, we are just at the door-step.
On why ACCA chose to partner with Sage, he said, “If you are choosing a partner, you must have similar DNA. That is the critical element for me and for us in the Nigerian office; to have an organisation that shares our values, professional in its approaches and on ethical grounds. If you look at Sage’s story, it has been around for 36 years. Look at the business turnover, the number of countries they operate and the very customer-centric. They provide solutions that solve critical accounting needs.
How Will the Partnership Impact Entrepreneurs in Nigeria?
Director, Sage Enterprises, West Africa, Mr. Fidelis Isiekwuene, responds “First, technology is shifting; before now, software companies make software available for accountants for use. But, accounts could only implement processes based on the extent provision of the solution. In today’s world, it is a different case. This is customer-focused. Technology companies, on daily basis, are innovating on how to make the works of the accountant easier.
“The present business world tends to query you, ‘what makes you different from others?’ A C-level executive, for instance, who is jumping from one city to the other, trying to make money for the Company, does not have time to sit down and begin to look at the intricacies of the entries; he wants to see everything at a glance.
“He wants to be able to see the business report, no matter where he is. This is where the innovations around SMAC come in- Social, Mobile, Analytics and Cloud. So, he shouldn’t be tied down to a place before he could see the feasibility of the business. He wants to collaborate with the team, on the go. He wants to use ‘Sage Pegg’ as a communication tool, because just like every time you are sending WhatsApp messages, people respond real time. Also, you should be able to talk to your colleagues and get answers real-time”.
Securities and Exchange Commission (SEC) has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited.
In a circular issued in Abuja, yesterday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the Nigerian capital market.
“The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited which holds itself out as an Investment Adviser/Fund Manager.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market.”
SEC advised the public to refrain from engaging with Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives in respect of any business in the Nigerian capital market.
“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment.
“The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s portal before transacting with them,” the SEC added.
Dr. Emomotimi Agama, director-general of the SEC, recently warned that the Commission would not hesitate to shut down the operations of such unregistered entities while also ensuring that the promoters are made to face the full weight of the law.
Agama said, “we will shut down their operations and the promoters will be made to face the full weight of the law.
“In a major reform, ISA 2025 officially brings digital assets under the SEC’s regulatory purview, defining them as securities and mandating registration for all virtual asset service providers (VASPs) and digital asset exchanges. This development aims to close the regulatory vacuum that has allowed many Ponzi-style platforms to thrive under the guise of cryptocurrency and digital finance.”
Agama also emphasized the Commission’s education-focused strategy to combat fraud through podcasts, digital campaigns, and the introduction of capital market literacy in schools and universities, the SEC aims to equip Nigerians with the knowledge to detect and avoid dubious investments.
Africa’s cross-border payments market is on track to hit $1 trillion by 2035, according to a new report by venture capital firm Oui Capital. Titled “Africa’s Cross-Border Payment Landscape—a deep dive into the systems, players, and shifts shaping Africa’s cross-border payment flows,” the report states that the market is currently valued at $329 billion and growing at a compound annual growth rate of 12%.
It identifies Africa’s booming digital adoption, increasing intra-African trade, and a surge in mobile money usage as the key growth drivers.
Despite the impressive growth, the report highlights systemic inefficiencies.
“Legacy rails, double currency conversions, and fragmented regulations still siphon billions in hidden costs,” Oui Capital states, noting that the continent continues to have the highest global remittance costs, averaging 7–8%.
However, digital innovation is helping reshape the landscape. Mobile money is now a key channel, with 30% of Sub-Saharan remittances flowing through mobile wallets.
In 2022, Africa accounted for 66% of global mobile money transaction value, demonstrating the rapid formalisation of what was once a predominantly informal cash ecosystem.
Oui Capital sees significant investment potential in addressing these inefficiencies. “Infrastructure plays—interoperable API layers, decentralised FX liquidity pools, and PAPSS integrations—represent $10 billion-plus opportunities,” the report says.
The Pan-African Payment and Settlement System is one such initiative pushing for local currency settlements and reduced reliance on USD/EUR clearing, which presently adds around $5 billion in annual costs.
According to the report, cryptocurrencies and Stablecoins are emerging as promising alternatives, cutting remittance costs by up to 60% in markets with clear regulations.
“Fintech APIs are already pushing fees as low as 1.5–3%,” the report notes.
Still, the venture capital firm warns that challenges persist as only 55% of African jurisdictions allow full electronic KYC, limiting the scalability of fintech solutions.
The report urges founders to go beyond peer-to-peer transfers by embedding services like lending and insurance.
“Africa’s payments race is now a scale game. Those that solve for liquidity, compliance and cost will define the continent’s digital trade backbone over the next decade,” it concludes.
Chartered Institute of Bankers of Nigeria has expanded its Agency Banking Certification Programme through a tripartite collaboration between the Institute, FIC, and SANEF Limited.
This partnership according Prof. Pius Deji Olanrewaju, President/Chairman of Council the Chartered Institute of Bankers of Nigeria, CIBN, is timely and strategic, “as we aim to broaden the reach of the certification across Nigeria’s agent banking sector. With SANEF’s deep integration in the financial inclusion ecosystem and established relationships with leading super agents, we are confident that this collaboration will strengthen the quality and visibility of the programme.
“The goal is clear, to enhance professionalism among agent bankers, support the national financial inclusion strategy, and contribute to building trust and integrity within this growing segment of the financial services sector. This collaboration presents an excellent opportunity for further implementation of the competency framework for the banking industry in Nigeria”.
He noted that the collaboration among others is part of his LEGACY agenda which highlights the multifaceted role of financial institutions in shaping Nigeria’s economic future.
The letter C in the LEGACY agenda refers to Competence in the banking and Finance industry, which is a very crucial factor in the banking and finance sector. Competent individuals in this industry are equipped with the necessary knowledge and skills to effectively manage financial resources. Individuals with expertise in this field can contribute to the growth and stability of the economy.
Mrs. Uche Uzoebo, Managing Director/Chief Executive Officer, Shared Agency Network Expansion Facilities, SANEF, described the memorandum of Understanding, MoU, as a visionary partnership that seeks to expand Financial Inclusion through Agent banking training, Financial Literacy and knowledge impartation, an objective that forms a key pivot of what SANEF represents.
“Over the years, SANEF, in strong collaboration with our key stakeholders, Banks and Licenced Super-Agents/Mobile Money Operators and other Financial Service Providers, have continued to deepen the frontiers of Financial Inclusion and agent bank. Financial Literacy and training have remained a key part of this objective.
“This MOU ceremony is a fulfillment of a shared vision through the expansion of Agent Banking, Financial Literacy, capacity building, thought leadership, training and competency.
She further explained that the agreement provides a training structure with well-curated and knowledge filled training modules and materials that will deepen the knowledge and capacity in agent banking.
“It will go ahead to deepen and expand the knowledge and capacity of all participants that will take part in this training and we believe that with the quality and cooperation of all parties present, this very important objective of impartation of knowledge and thought leadership, grooming and training minds to be empowered and learned and contributing our quota to nation building and be a better place,” she added.
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