E-Business
Stakeholders in Agribusiness Seek Robust Payment System to Stimulate Growth
Stakeholders in the Agribusiness have emphasized that adequate payment system in the sector would transform and create a movement that will change the ecosystem and make it more profitable for practitioner in Africa.
They stated this at the Cellulant’s inaugural partners’ summit themed ‘Technology for Transformation: Payments Connecting All of Africa’ held on Thursday, December 18 at Oriental Hotel, Lagos.
Bolaji Akinboro, co-founder and group co-ceo, Cellulant Corporation, speaking at the event, said that adequate payment system in the Agric value chain would create an environment that will allow many practitioners to create jobs for millions of Africans who do not have jobs.
He explained that their goal is to use ‘Agrikore and Tingg’ initiatives to deliver services to the unbanked and underserved and also power economic inclusion by empowering everyone with access to financial services.
He noted that Nigerian farmers are ready to embrace financial inclusion as long as we are committed and ready to solve problems of economic inclusion in the country.
He further added that there are huge opportunities in agriculture in Nigeria and that payment technology is the only conveyor belt that would connect these opportunities and make it visible and attractive.
According to him, “there is this huge opportunity in agriculture but payment technology is one that would connect these opportunities and make it visible for everybody, because when its visible, it means the banks now can lend, people always say that the banks don’t lend to agriculture but the reason they don’t lend to agriculture is because they feel agriculture risky because they cannot see what is going on but with ‘Agrikore and Tingg’ platform they can now see what is going on and it becomes easy for banks to lend.
“Nigerian farmers want to be financial included as long as we solve the problem of economic inclusion and that is what we have solved through ‘Agrikore and Tingg’ initiatives.”
Ken Njoroge, co-founder and group co-ceo, Cellulant Corporation, speaking at the event said that their aim is to democratize payment structure across Africa.
According to him, “Our goal is to use technology to create a movement that would change African Agribusiness and make it a community that will transform the continent”.
“The adoption of Tingg across the continent has done very well, as we currently speak we have Tingg in 18 countries and payment infrastructure in 35 countries, we have about 120 banks connect to this initiative and a large number of consumers that transact on this platform.
“So adoption has been great but our target is to get to 100 million users over the next seven to ten years.”
He urged Africans to use their communal and collaborative nature to build a market place that would transform the continent and create jobs for millions of its citizens.
He revealed that they will scale up the use of Tingg platform to many other African countries that is not yet covered by 2020.
“We want to expand Tingg program in a lot markets in Africa, so we hope to expand Agrikore into Kenya, into Ghana, in Zambia and maybe one other country across Africa in 2020”.
“Our efforts towards achieving this target are in many facets, so first is to actually develop spectrum services that will truly add value in the agric value chain, which is the reason why we have done a lot of innovative program in agriculture over the last couple of years.
“As you know our believe at Cellulant is that payment enhances the development of the economy, so we’ve developed the value chain and once you develop the value chain it powers the underlining payments.
“The second strand is to make sure that we have built enough foot print across Africa and be able to rollout these solutions and solve problems most consumers in African markets face”.
David Waithaka, chief Business Development Officer, Cellulant Group, while speaking at the event reiterated that their goal is to enable businesses and consumers make and receive payments both in and across countries seamlessly.
He stated that their aim is to create a single payment platform for African countries just like we have in China with China Union, US and Europe with VISA.
Waithaka said, “We are positioning ourselves to create Tingg as the only payment platform for Africa to enable consumers in whatever country they are sitting across the continent to be able to make and receive payments.
“The African payment platform is very fragmented, so the sole purpose of what we are trying to do is to enable Africans, wherever you are from, to be able to make payment across the counter with whatever form of payment you have as Tingg in any country across Africa.”
Also speaking at the occasion attended by critical stakeholders in the agribusiness ecosystem including farmers, aggregators and retailers, Adebisi Adebise, managing director/chief executive officer,Wema Bank, reiterated the importance of cooperation between every player in the Agric value chain.
He identified problems of the Agric sector to include a low level of budgetary allocation, low financial literacy, a large percentage of unbanked population and the limited capacity of financial institutions to understand the value-chain, assured that Wema Bank would continue to partner Cellulant to improve agriculture.
Dexude, a leading edtech platform with operations in Nigeria, has announced that it has been awarded the prestigious Business Finland TEMPO funding.
Charles Emembolu, founder of Dexude,
This significant funding injection marks a pivotal moment in Dexude’s journey towards transforming education through its AI-powered, live-first, expert-led, and community-driven platform.
The Business Finland TEMPO funding is specifically designed to support startups and SMEs aiming for international growth by building their expertise and solutions into international success stories in innovative ways.
Dexude’s commitment to innovation, coupled with its vision to enable a billion learners worldwide, aligns perfectly with the objectives of the TEMPO funding.
Commenting on this milestone achievement, Charles Emembolu, founder of Dexude, remarked, “We are incredibly honored and excited to receive the Business Finland TEMPO funding. This funding is not only a validation of Dexude’s mission to reinvent education but also a testament to the hard work and dedication of our team. With this support, we are poised to accelerate our efforts in democratizing access to quality education and empowering learners across Nigeria and beyond.”
L-r; Kelvin Chikezie, co-founder of Dexude; Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency (NITDA); and Charles Emembolu, founder of Dexude
Kelvin Chikezie, co-founder of Dexude, added, “Securing the Business Finland TEMPO funding is a significant milestone for Dexude. It underscores our commitment to leveraging technology and innovation to revolutionize the way people learn and grow. We are grateful to Business Finland for believing in our vision, and we are excited to embark on this next chapter of Dexude’s journey.”
Dexude is on a mission to redefine education by providing learners with access to influential experts and thought leaders, live interactions, and a vibrant community-driven learning experience.
Through its platform, Dexude aims to break down barriers to learning and empower individuals to pursue their passions and unlock their full potential.
SOPHiA GENETICS, a cloud-native software company in the healthcare space and a leader in data-driven medicine, has announced that Nigeria-based Syndicate Bio has signed on to implement MSK-ACCESS® powered with SOPHiA DDM™.
Syndicate Bio is the first lab in Africa to adopt the MSK-ACCESS® assay via the SOPHiA DDM™ Platform, and the first company to make comprehensive genomic profiling and liquid biopsy widely available to patients throughout the entire continent.
The implementation of this new technology will further existing work from SOPHiA GENETICS, Memorial Sloan Kettering Cancer Center (MSK), and Syndicate Bio to advance health equity on a global scale.
There are roughly 1 million new cancer patients each year in Africa and currently, comprehensive genomic profiling and liquid biopsy testing options are not widely available.
This means that patients are forced to forego this testing or travel out of continent for these testing options. Syndicate Bio’s implementation of this new offering will provide cutting-edge liquid biopsy testing to many of these patients and will help progress the company’s goal of advancing genomics and precision medicine in an area of the world that has been historically underserved in these areas.
“Partnering with SOPHiA Genetics to bring MSK-ACCESS® powered with SOPHiA DDM™ to our lab is a monumental step in accelerating the cancer treatment and research landscape across Africa, beginning in Nigeria. Next-generation sequencing technologies in oncology and liquid biopsy, which this collaboration enables, hold the potential for creating a leapfrogging opportunity in the oncology treatment and research landscape in Africa,” said Abasi Ene-Obong, PhD., Founder, Syndicate Bio.
“Through this collaboration, we aim to enable the widespread application of precision medicine in oncology across Africa, and thus contributing to the improvement of patient outcomes across the African continent.
“We believe our scientific expertise, combined with AI-enabled technologies and data-driven solutions enabled by SOPHiA GENETICS, presents a unique opportunity to fundamentally transform the journey of cancer patients through non-invasive cancer analysis, predictive genetic testing, and effective precision medicine.”
Syndicate Bio is driving genomics and precision medicine initiatives across the world’s most diverse regions through large-scale partnerships with governments, industry, and other stakeholders. Through its work, Syndicate Bio is making local impact while accelerating drug discovery and development.
By focusing on Africa, Syndicate Bio is poised to make a significant impact, starting with Nigeria, by introducing its pioneering clinical oncology offerings in an underserved region.
Through this endeavor, Syndicate Bio aims to improve cancer diagnosis and treatment for African patients. This initiative not only facilitates local next-generation sequencing (NGS) testing and liquid biopsy testing but also extends access to clinical trial participation, empowering patients and healthcare providers alike.
MSK-ACCESS® powered with SOPHiA DDM™ is a decentralized version of a highly validated ctDNA test developed by MSK that involves the deep sequencing of 146 key cancer-associated genes, and will augment Syndicate Bio’s tumor profiling capabilities, allowing them to utilize a small blood sample to generate a comprehensive report in an efficient and expedited time frame.
The use of liquid biopsy is less invasive than traditional biopsy, and can help simplify patient monitoring, whilst driving the uptake of precision medicine.
The offering combines the sophisticated analytics, state-of-the-art algorithms, and decentralized, cloud-based offerings of the SOPHiA DDM™ Platform, with the scientific and clinical expertise of MSK in cancer genomics to provide a best-in-class liquid biopsy solution.
“In our mission to democratize data-driven medicine, our decentralized global network and unique set of partnerships enable us to help reach underserved populations, just as those that are served by Syndicate Bio,” said Philippe Menu, MD, PhD., Chief Medical Officer, SOPHiA GENETICS.
“By implementing this solution, Syndicate Bio will make a measurable impact throughout Africa, while also helping to generate an unparalleled and comprehensive dataset and provide invaluable insights and knowledge to shape the future of global healthcare.”
In late 2023, SOPHiA GENETICS and MSK announced they are working in partnership with AstraZeneca to bring the world-class MSK-ACCESS® powered with SOPHiA DDM™ testing solution to countries and regions around the globe, including underserved areas where access to testing remains scarce.
Mallam Kashifu Abdullahi, director-general, National Information Technology Development Agency (NITDA), has reaffirmed the importance of collaboration in advancing Nigeria’s digital transformation agenda.
L-R: Mallam Kashifu Abdullahi, director-general, National Information Technology Development Agency, with Brig. Gen., Abdulrahman Idris, team lead of the Senior Executive Course 46 2024, National Institute for Policy and Strategic Studies, Kuru, Jos during a strategic tour visit to the agency headquarters in Abuja.
Abdullahi disclosed this during a strategic engagement with participants of the 2024 Senior Executive Course 46 from the National Institute for Policy and Strategic Studies (NIPSS), a delegation led by Brigadier General Abdulrahman Idris.
Abdullahi emphasised that no organisation can achieve its goals in isolation, stressing the need for collaborative efforts to harness ideas, experiences and insights for national development. He highlighted the potential of collaboration between NITDA and NIPSS to leverage technology and digital innovation for driving economic growth, creating job opportunities and attracting foreign direct investment (FDI).
“At NITDA, we have re-imagined our social contract with Nigerians, focusing on improving service delivery and fostering the swift growth of the ICT sector,” said Abdullahi. He emphasised the agency’s commitment to serving Nigerians and outlined the strategic direction outlined in NITDA’s Strategic Roadmap and Action Plan (SRAP 2024-2027) 2.0. The SRAP is structured around eight pillars aimed at fostering digital literacy, building a robust technology research ecosystem, strengthening policy implementation, promoting inclusive access to digital infrastructure, enhancing cybersecurity, nurturing innovation and entrepreneurship, forging partnerships and cultivating a vibrant organisational culture.
The brigadier-general provided insights into NIPSS’s role as Nigeria’s foremost policy think-tank, tasked with developing top-class technocrats to drive national development initiatives. He highlighted NIPSS’s contributions to policy formulation and implementation over the years, emphasising the institution’s mandate to address issues of national interest, particularly in the digital economy sector.
The collaboration between NITDA and NIPSS underscores the importance of synergistic efforts in harnessing technology and innovation for national development. By leveraging each other’s expertise and resources, both organisations aim to drive economic growth, foster job creation, and position Nigeria as a leading player in the global digital economy.
Through strategic partnerships and collaborative initiatives, NITDA and NIPSS are poised to chart a path towards sustainable development, leveraging digital innovation as a catalyst for socioeconomic transformation and inclusive growth.
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