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“TIME 100” Lists Tony Elumelu among 100 Most Influential People in the World 2020
TIME has named Tony O. Elumelu, one of Africa’s leading investors and philanthropists, in the 2020 TIME100, the annual list of the 100 most influential people in the world.
The list, now in its seventeenth year, recognises the activism, innovation, and achievement of the world’s most influential individuals.
Mr Elumelu, who is one of only four Africans on the 2020 list, is recognised for his track record of business turnaround and value creation, and economic empowerment of young Africans.
Tony Elumelu is the founder and chairman of Heirs Holdings, his family owned investment company, committed to improving lives and transforming Africa, through long-term investments in strategic sectors of the African economy, including financial services, hospitality, power, energy and healthcare.
He is the Chairman of top pan-African financial services group, the United Bank for Africa (UBA), which operates in 20 countries in Africa, the United Kingdom, France, and is the only African bank with a commercial deposit taking licence in the United States.
The bank provides corporate, commercial, SME and consumer banking services to more than 21 million customers globally.
Elumelu also chairs Nigeria’s largest quoted conglomerate, Transcorp, whose subsidiaries include Transcorp Power, one of the leading generators of electricity in Nigeria and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.
Mr Elumelu is the most prominent champion of entrepreneurship in Africa. In 2010, he created The Tony Elumelu Foundation (TEF), the philanthropy empowering a new generation of African entrepreneurs, catalysing economic growth, driving poverty eradication and ensuring job creation across all 54 African countries.
Since inception, the Foundation has funded just under 10,000 entrepreneurs and created a digital ecosystem of over one million as part of its ten year, US$100m commitment through the TEF Entrepreneurship Programme.
Self-funded, the Foundation is increasingly sharing its unique ability to identify, train, mentor and fund young entrepreneurs across Africa, with institutions such as the UNDP, the ICRC and leading European development agencies.
Tony Elumelu Named In “TIME 100” List Of 100 Most Influential People In The World 2020Heirs Holdings, which serves as a corporate role model for African businesses, and the Tony Elumelu Foundation will both celebrate 10 years of impact in November.
Their mission continues to be inspired by Mr Elumelu’s economic philosophy of Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.
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NITDA, CISCO, Partner on Digital Literacy Initiative in NSUK
As part of its continued efforts at reforming the economy for sustained inclusive economic growth and actualising the presidential target of equipping 70% of Nigerian citizens with digital literacy and skills by the year 2027, the National Information Technology Development Agency (NITDA), through its National Digital Literacy Framework (NDLF), has launched the Digital Literacy For All Initiative(DL4ALL) at the Nassarawa State University, Keffi towards incorporating digital literacy into the institution’s curriculum.
This initiative, launched in collaboration with CISCO and Nasarawa State University Keffi (NSUK), aims to ensure that students at every educational level achieve digital literacy before graduation and to support the presidential target of 70% digital literacy amongst its citizenry by 2027.
Giving his special address at the launching ceremony, the Director General of NITDA, Kashifu Inuwa CCIE, expressed his excitement at the remarkable milestone achievement, that the ecosystem collaboratively made in ensuring inclusive access to digital literacy for all.
“It is a pivotal moment for our relationship of building the ecosystem in terms of bringing the industry, the academia and the government to work together,” he noted.
He stated that with Cisco’s support and government-backed frameworks, digitally proficient graduates who will plug seamlessly into the workforce would be produced rather than mere degree holders.
Citing projections from the World Economic Forum which estimates a global talent shortage of 85 million people by 2030, potentially resulting in 8.5 trillion dollars in unrealised annual revenue, Inuwa averred that Africa and Nigeria in particular, have a tremendous opportunity to fill the gap.
While emphasising the President’s directive of driving economic transformation through technology and skills development, Inuwa stated that it was essential to build a digitally skilled workforce that would accelerate the country’s economic growth and development.
“In a world we live in today where digital is a lifestyle, digital literacy is no longer optional, but it is a necessity because we need it to be included in everything we do. Today, to be digitally included economically, and financially, you need to be digitally literate, so you need to have the fluency to navigate the digital world,” he mentioned.
Speaking on the NDLF that was developed which birthed the DL4ALL initiative, the NITDA DG mentioned that the initiative would help build a digitally savvy population that cuts across all sectors because Information Technology is pervasive.
Enumerating the core competencies of the framework which are; device and software operation, information and data literacy, collaboration and communication, digital content creation, safety, and lastly, problem management, Inuwa asserted that the competencies will allow students to safely and effectively use technology in creating content, managing data, solving problems and collaborations with students in other universities.
He explained that the launch of the DL4ALL at NSUK aligns with Nigeria’s mission of achieving digital sovereignty and would empower students not just to secure jobs but to create them, particularly through entrepreneurship programs that encourage students to start businesses before graduation.
While urging the students to embrace technology as a limitless platform that will inspire them to be innovative and fearless, Inuwa said “I believe with technology, your limitation is your imagination because with the ubiquitous data we have today, unlimited connective and massive processing power, you all can achieve whatsoever you imagine.”
Earlier in her welcome address, Prof Sadaatu Hassan Liman the NSUK Vice Chancellor, described the partnership between the university and NITDA as a transformative one that will allow students at the university to leverage the DL4ALL programme in acquiring digital skills that will enable them to thrive in the 21st-century global landscape.
She noted that the programme is not only empowering the students but positioning the university as a regional leader in Information and Communications Technology and emerging technologies.
“This strategic integration of cutting-edge technologies into our academic offerings will open up a lot of opportunities to our students and staff as well, allowing them to develop critical thinking, problem-solving and innovative mindsets required to navigate the rapidly evolving digital world,” she said.
The highlight of the ceremony was the unveiling of the DL4ALL in NSUK emblem which was done by the dignitaries at the event.
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Newmark Group Wins PR Excellence Award at AfriTECH 2024 Summit
Newmark Group, a Pan-African strategic communications and brand positioning firm, received the PR Excellence Award during the AfriTECH 2024 Summit at the Oriental Hotel in Lagos.
Themed “Leapfrogging Digital Transformation for the Future of Africa’s Economy,” this year’s summit gathered influential voices from technology, telecommunications, e-commerce, and finance sectors to explore and discuss innovations driving Africa’s digital landscape.
This prestigious award highlights Newmark’s dedication to excellence in public relations and recognises its impactful contributions to advancing technology and digital transformation across Africa.
Known for creating powerful communication strategies that empower brands and drive growth, Newmark continues to set a high standard in the industry.
Lovelyn Okafor, Country Head of the Newmark Group in Nigeria, expressed gratitude for the recognition: “Receiving the PR Excellence Award at AfriTECH affirms our team’s dedication and hard work.
This honour reflects our commitment to helping brands thrive in Africa’s dynamic market through innovative communication strategies that foster growth and engagement.”
The Newmark Group Ltd has received a number of awards recently, including the IPRA Golden World Awards, the PRGN Awards, and the World Public Relations and Communications Awards and the 2024 SABRE Awards, where the firm was celebrated for outstanding public relations campaigns that strengthened client branding and reputation.
The AfriTECH award further cements Newmark’s position as a thought leader in strategic communications across the continent.
These accolades highlights the firm’s leadership and steadfast commitment to excellence in public relations.
The Newmark Group continues demonstrating its role as a key player in promoting digital transformation and innovation.
The company reinforces its commitment to best practices and explores collaborative opportunities that will drive further digital advancement.
Newmark remains dedicated to crafting top-tier communication strategies that deliver results and contribute positively to society.
With its expanding influence across Africa, the firm continues solidifying its reputation as a trusted, innovative player in integrated marketing communications.
With operations in over 30 African countries and a diverse portfolio spanning sectors from healthcare to aviation and agriculture, Newmark is a driving force behind effective public relations initiatives for organisations across the continent and beyond.
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Africhange Secures IMTO Licence to Streamline Remittance to Nigeria
Africhange, a cross-border remittance service provider, announced today that its Nigerian subsidiary, Currenzo, has secured the International Money Transfer Operator [IMTO] licence from the Central Bank of Nigeria [CBN].
This strategic move significantly improves Africhange’s ability to facilitate inward remittances for immigrants and diaspora communities sending money to Nigeria.
Nigeria remains one of the largest recipients of remittances in Sub-Saharan Africa. According to the World Bank’s Migration and Development Brief, in 2023 alone, remittance to Nigeria accounted for 38% of the region’s $54 billion total.
For many Nigerian individuals, these funds are essential for education, healthcare, and daily living, making accessible and cost-effective remittance solutions vital. With the IMTO licence, Africhange is positioned to deliver a trusted service that improves access to much-needed financial support across borders.
Founded in 2020, Africhange has achieved impressive growth as a fully bootstrapped company, serving over 200,000 users globally and facilitating more than 2 million successful transactions. Operating in over 100 countries—including Canada, Nigeria, the United Kingdom, and Australia—Africhange offers an extensive range of currencies and services that simplify international money transfers.
By leveraging advanced technology, the platform minimizes the cost and complexity of cross-border transactions, enhancing the immigrant experience and supporting communities, especially those of African descent.
After four years of deep market understanding, maximizing unit economics, and reaching cash flow positivity, Africhange is now poised to raise funds in the coming year to fuel rapid expansion and bring its impactful solutions to even more users worldwide.
The new IMTO licence allows Africhange to manage inward remittances directly into Nigeria without relying on intermediaries. By removing third-party involvement, this capability enables partnerships with local banks, streamlining payment processes and lowering costs for customers.
Furthermore, the company can offer better rates and faster services for Africans living on the continent and abroad. Africhange is dedicated to maintaining the highest compliance standards with regulatory requirements across all markets, ensuring that customer transactions are secure and transparent.
David Ajala, CEO of Africhange, stated: “As an immigrant-founded company, we understand first-hand that sending and receiving money across borders is a key part of daily life for our users, who are immigrants of African descent. Securing the IMTO licence allows us to offer a faster, more affordable way for people to support their loved ones back home.
For Africhange, it means we’re stepping into a new era where we can empower both individuals and businesses to make seamless, direct transactions in Nigeria. We’re excited about the doors this opens to bring greater impact to the lives of the communities we serve.”
With a strong track record of success, Africhange has established partnerships with three Nigerian banks and is actively seeking to expand these relationships. It also has a reliable settlement partner in Nigeria, ensuring secure processing for local transactions. Building on this partnership alongside the IMTO licence.
Tega Gabriel, Head of Growth of Africhange, added: “This IMTO licence acquired from the CBN brings incredible opportunities to form direct partnerships with Nigerian banks and other international money transfer operators.
“Connecting directly with local partners lets us speed up transactions and improve the remittance experience for our users sending money to Nigeria. As we scale, these partnerships will strengthen our reach across Nigeria and beyond, bringing us closer to our vision of accessible financial services for the global diaspora.”
The licence acquisition follows Africhange’s recent expansion to the UK and builds on the licences already acquired in its Canadian and UK markets, intending to strengthen its service offerings. Looking ahead, the money transfer platform is preparing to launch operations in the US and EU markets, further scaling its footprint in the remittance sector and reinforcing its position as a leader in cross-border financial services.
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