Broadcasting
The Exciting Relationship Between Women and Mobile Money in Africa
By Rashi Gupta, Group Chief Operating Officer at MFS Africa
The success of mobile money in Africa is well known. If you’ve paid any attention to the continent’s financial and technology spaces over the past decade or so, you probably won’t be surprised to learn that it accounts for around 70% of the world’s US$1 trillion mobile money value.
You’d probably also be unsurprised to learn that in Kenya, the country that effectively kick-started Africa’s mobile money revolution, mobile money transactions now account for 56.8% of GDP. What you might not know is that mobile money has long played (and continues to play) an important role in empowering women across Sub-Saharan Africa.
That’s important because, despite gains in representation (in 11 African countries, women hold over a third of parliamentary seats, more than in Europe), gender inequality remains stark across Africa. While there are obviously differences from country to country, women throughout the continent fare worse than their male counterparts in a number of measures, including wages, investment, access to capital, and education.
Of course, mobile money can’t fix all of those issues on its own. That requires serious investment as well as shifts in policy and societal attitudes. But it can play a significant role in making life better for women across the continent, especially when it comes to financial inclusion.
Taking care of business
That’s not just conjecture either. Research conducted on behalf of the World Bank shows just how substantial the impact has been. It notes, for example, that mobile money has enabled Kenyan women to move away from subsistence farming and towards business and retail, helping alleviate poverty in the country.
The research further notes that, for individuals and households, mobile phones can help reduce transaction costs, lower travel costs, improve welfare by smoothing unexpected income shocks, increase security, and facilitate remittances.
Perhaps the most significant impact, however, lies in what mobile money can do for female entrepreneurs.
Using mobile money leads to a 19.8% increase in the likelihood of female-led businesses receiving investment from outside sources. Given that the average capital investment by female-owned firms is more than six times lower than the average for male-owned firms in Africa, that’s especially critical.
That same World Bank research shows that such female-owned businesses are then more likely to invest that money in fixed assets and their business’s expansion, more likely to offer credit to customers, demand credit, and have better relationships with suppliers
A state of constant evolution
It’s also worth noting that mobile money has evolved considerably since it landed on the African continent, further enhancing its ability to empower women.
Advances in interoperability, for example, mean that it’s easier than ever for people and businesses on different mobile money systems and in different countries to send and receive money. That has massive potential benefits for female entrepreneurs as it allows them to sell their products across borders without having to rely on traditional international ecommerce infrastructure that can be costly, resource intensive, and require business owners to travel away from home on a regular basis using unsafe or unreliable modes of transportation. Unlocking new markets is vital for any business’s ability to scale and grow.
In the coming years, mobile money will continue to evolve in new and innovative ways. And if history is anything to go by, then women will embrace and benefit most from those advancements.
Breaking barriers across borders
That’s because financial inclusion is the most effective way of reducing inequalities. That’s especially true for women. And few technologies have fostered that kind of inclusion as successfully as mobile money has. It has given unbanked communities and people in remote and rural areas the kind of access to financial services that would’ve taken far longer if they’d had to rely on traditional financial institutions. The fact that it’s had such a profound and lasting impact in elevating women across the continent should, therefore, never be underestimated.

Broadcasting
Nigerian Idol’s Spectacular Live Shows Begin this Sunday
Nigerian Idol, the nation’s biggest singing competition, is set to ignite screens across Nigeria as it kicks off the highly anticipated live shows for Season 8 on Sunday, May 28, 2023. This season promises to be an electrifying display of talent, extraordinary performances, and unparalleled entertainment.
After a series of intense auditions and captivating episodes, the judges have discovered the country’s most exceptional vocalists, now forming the highly coveted Top 10. These extraordinary talents have captivated the hearts of millions and are ready to showcase their skills on the grand stage.
Viewers can expect a thrilling rollercoaster of emotions as the Top 10 contestants unleash their vocal prowess and battle it out week after week. From spine-tingling ballads to explosive power anthems, each performance promises to be an unforgettable musical journey.
Renowned for its distinguished panel of judges, Nigerian Idol brings together expertise and industry knowledge. The judges’ panel for this season of the show comprises D’banj, Simi, and Obi Asika, who are music icons and industry trailblazers. Their constructive criticism and insightful feedback provide the contestants with invaluable guidance, helping them reach new heights in their artistic journey.
In addition to the remarkable performances and expert judging, Nigerian Idol promises premium entertainment that will leave viewers on the edge of their seats. Spectacular stage designs, dazzling light displays, and heart-stopping production values will elevate the live shows to an entirely new level of spectacle.
To catch all the exhilarating performances, emotional moments, and edge-of-your-seat drama, tune in to Nigerian Idol on DStv Africa Magic Channels – Showcase, Urban, and Family by 7pm on Sunday, May 28, 2023.
The excitement reaches new heights with a dedicated Nigerian Idol pop-up channel (DStv ch. 199). Fans can enjoy exclusive “behind-the-stage” conversations and catch up on all the auditions.
Broadcasting
How MTN’s Endorsement Changed Davido’s Musical Career
Davido’s reputation as an “Omo baba Olowo” (son of a rich man) has never been in question but even the filthy rich have been known to enjoy a financial boost from time to time. The Afro-pop star revealed he received his big boost as a teenager when telecommunications giant, MTN came calling with a N20 million naira endorsement deal.
“I remember when MTN, a telecommunication company, came, and they were like they want to do endorsement, but then he (Dad) was like how much, and I said 20 million. I was like I’m 17. Nobody (had) seen that kind of money. Wow, this is from music, and it’s off like two songs, of course.”
Davido further explained that the deal came at the right time as it proved to be the incentive needed to convince his multi-billionaire father, Dr Adedeji Adeleke of the potential in the music business
“I’m like, ‘Daddy see, we can do this’. “He built me a studio and gave me some money to run my stuff and did my first album, and it came out really really successful.”
Davido was the face of MTN Pulse between 2012 and 2016 and during that time the pop star dropped hit songs like Damiduro, Skelewu, and Gobe to mention a few whilst picking up a number of awards along the way.
How MTN’s Endorsement Changed 17-year Davido’s Musical Career
Davido’s reputation as “Omo baba Olowo” (son of a rich man) has never been in question but even the wealthy have been known to enjoy a financial boost from time to time. The Afro-pop star revealed he received his big boost as a teenager when telecommunications giant, MTN Nigeria came calling with a N20 million naira endorsement deal.
“I remember when MTN, a telecommunication company, came, and they were like they want to do endorsement, but then he (Dad) was like how much, and I said 20 million. I was like I’m 17. Nobody (had) seen that kind of money. Wow, this is from music, and it’s off like two songs, of course.”
Davido further explained that the deal came at the right time as it proved to be the incentive needed to convince his multi-billionaire father, Dr Adedeji Adeleke of the potential in the music business.
“I’m like, ‘Daddy see, we can do this’. “He built me a studio and gave me some money to run my stuff and did my first album, and it came out really really successful.”
Davido was the face of MTN Pulse between 2012 and 2016 and during that time the pop star dropped hit songs like Aye, Skelewu, and Gobe to mention a few whilst picking up a number of awards along the way.
Davido has since risen to become one of Africa’s biggest musical export, selling out various venues across the world including the O2 Arena in London, performing at the 2022 FIFA World Cup in Qatar, earning billions of streams across multiple platforms and collaborating with some of the world’s biggest artistes. He recently released his fourth studio album “Timeless” which peaked at number 2 on the World Album charts.
Broadcasting
Role of FMCG in Tackling Climate Change: The Challenges and Opportunities for Consumer Goods Companies in Nigeria
By Lovelyn Okafor
I was always attracted by the natural beauty that surrounded me as a little girl growing up in Lagos, Nigeria, the country’s major city at the time. Nigeria possessed a wealth of natural resources, ranging from lush green forests to crystal-clear rivers. However, as I got older, I became more aware of the influence of climate change on my city. The once-green woods were being destroyed at an alarming pace, and the waterways were filling up with rubbish from human activity, particularly plastic pollution. It was then that I saw the crucial role that Fast-Moving Consumer Goods (FMCG) firms may play in the battle against climate change.
According to the World Bank Groundswell reports, by 2050, Sub-Saharan Africa could see as many as 86 million internal climate migrants (move within their countries’ borders) without urgent global and national climate action to mitigate it. At the 2021 United Nations Climate Change Conference (COP 26) in Glasgow, President Buhari pledged that Nigeria will attain NetZero (zero carbon emissions) by 2050.
The challenges facing FMCG companies in Nigeria in tackling climate change are significant. The lack of infrastructure and resources for sustainable production and distribution is a major setback. Nigeria has a recycling rate of less than 10%, with most waste ending up in landfills or oceans. This lack of infrastructure also affects the availability of renewable energy sources, which makes it more difficult for companies to switch to clean energy. Also, the lack of awareness among consumers about the environmental impact of their choices is another significant challenge. Despite these challenges, there are significant opportunities for FMCG companies in Nigeria to address climate change. One opportunity is the growing interest in sustainability among consumers.
As awareness about climate change grows, more consumers are looking for sustainable options. Companies that can provide these options have the potential to gain a competitive advantage and build customer loyalty, especially among the younger generations. We see more millennials and Gen Zs taking responsibility for their purchases throughout the globe. Inputting the environment as a priority will attract and keep such customers who are persistent in looking into new brands that can provide green products.
Another opportunity is the potential for cost savings. Nigeria has a high cost of energy, which means that switching to renewable energy sources can provide long-term cost benefits. Switching from fossil fuels to renewable energy could save the world as much as $12tn (£10.2tn) by 2050, an Oxford University study says.
Additionally, investing in sustainable production and distribution can lead to reduced waste and lower operating costs. Presently, most parts of the world battle with various climate issues, particularly floods in Africa, earthquakes, typhoons, mudslides in Asia, bushfires, and hurricanes in the Americas. This has heightened discussions and adoption of sustainability measures such as the Sustainable Development Goals, SDG among United Nations member states and sundry initiatives by business/corporate organizations.
Apart from working on the SDGs at the governmental level, Fast-Moving Consumer Goods firms are moving quickly to reduce the environmental impact of their operations by manufacturing eco-friendly goods and establishing sustainable supply chains that decrease waste. Unilever Nigeria, for example, has set lofty sustainability goals, such as procuring 100% of its palm oil responsibly by 2023 and going carbon positive by 2030. They have also introduced environmentally friendly goods, such as Sunlight 2-in-1 washing powder, which uses less water and energy than standard washing powders. Nestle Nigeria is another FMCG firm in Nigeria with a sustainability programme that focuses on waste reduction and energy efficiency. They have also introduced environmentally friendly items, like their Milo refill pack, which eliminates packaging waste.
The measures these FMCG firms undertake in Nigeria serve as a model for others to emulate. It is now up to other FMCG firms to step up and take action to combat climate change. Companies may start by establishing sustainability goals and investing in renewable energy. They may also introduce environmentally aware shoppers to sustainable items.
FMCG firms may enhance infrastructure for sustainable manufacturing and distribution by collaborating with the government and other stakeholders. They may, for example, collaborate with waste management firms to build a recycling infrastructure in Nigeria. They may also collaborate with renewable energy firms to expand the availability of renewable energy in Nigeria.
The role of FMCG companies in tackling climate change is critical in Nigeria. While there are challenges to overcome, such as the lack of infrastructure and consumer demand for sustainable products, there are also significant opportunities, such as cost savings and building customer loyalty. FMCG companies in Nigeria can learn from examples set by other countries and companies and take steps to reduce their environmental impact and provide consumers with more sustainable choices. Working together can create a more sustainable future for Nigeria and the world.
Lovelyn Okafor is a lawyer and a public relations professional. She has over a decade of experience leading and advising businesses across multiple industries on strategy, corporate governance, and regulatory compliance.
She serves on several boards and works actively at the intersection of policy, media relations and business processes and is passionate about youth mentorship and development. Lovelyn has served as a lecturer at the Nigerian Institute of Journalism (NIJ) and is currently the Country Head of Newmark Group, Nigeria.
She is a member of the Nigerian Bar Association (NBA), Nigerian Institute of Public Relations (NIPR) and the Nigerian Institute of Management (NIM).
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