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VFD Group Plc Gets “A” Rating

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DataPro, the technology-driven credit rating agency has assigned VFD Group Plc a long-term rating of “A” with a Stable outlook for the year 2022/2023.

The rating company, in a statement issued at the weekend and signed by its Client Service Manager, Mr Kehinde Rasheed, explained that the “A” rating indicates low risk, adding that the rating shows very good financial strength, operating performance and business profile when compared to the standard established by DataPro.

“This company, in our opinion, has a strong ability to meet its ongoing obligations,” the statement said.

It stated further that the DataPro Rating Committee approved the rating after the assessment of the Company’s financial performance, corporate governance and risk management as well as the operational and regulatory environment. It added that the rating also considers the operating model of the parent company and the financial strength of the subsidiaries.

According to the statement, “The Group Revenue grew yearly from 2017 to 2020. The latest growth was 96%. Other major rating considerations of VFD Group Plc include the company’s stable management team and its strong capitalisation.

“VFD Group Plc had a Short-Term Rating of “A2” which indicates fair credit quality and adequate capacity for timely payment of financial commitments.

The company however said that the rating carries a maximum shelf life of 12 calendar months, in line with international best practice, explaining however that the rating is therefore not an offer to trade in securities nor a substitute for the user’s judgement. “It is meant for reference purposes,” the statement said.

 


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Schneider Electric Reinforces Support to Partners in Achieving Energy Management Goals

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Schneider Electric, a global leader in digital energy management solutions, recently held an event for its valued partners with a focus on industry trends, challenges, and the future of energy management.

Schneider Electric Reinforces Support to Partners in Achieving Energy Management Goals

Officials of Schneider Electric, an event for its valued partners with a focus on industry trends, challenges, and the future of energy management recently

The event provided a platform for attendees to network and share critical insights, including the latest market trends and Schneider Electric’s newest offerings in energy management.

Present at the event were, Country President, Schneider Electric, West Africa, Ajibola Akindele, official distributors, retail partners, panel builders, Marketing and Communications Manager, Schneider Electric, Omobolanle Omotayo, Channel Sales Director, Schneider Electric, Nurudeen Oyedeji, amongst others.

The event featured engaging discussions and presentations that explored the current and future trends in the industry, as well as how Schneider Electric can better serve its customers’ evolving needs while showcasing the company’s latest products and services.

Expressing his gratitude to their partners, Country President, Schneider Electric, West Africa, Ajibola Akindele said, “Our partners’ satisfaction is crucial to enhancing our individual efforts, and we are thankful for their unwavering support. Their partnership has been instrumental in our success as an organization, and we remain committed to working collaboratively to achieve our shared goals.”

Speaking further on working collaboratively with partners, Ajibola Akindele mentioned Schneider Electric has developed a program targeted at empowering electricians for the safe installation of energy management solutions,

“At the core of Schneider Electric is passion for people. To guarantee the safety of our customers, an initiative has been created to equip electricians with products and technical skills for safe installation.”

Channel Sales Director, Nurudeen Oyedeji highlighted a few of Schneider Electric’s latest offerings in energy management, “We have Electrical Vehicle (EV) Chargers, flexible design switches, circuit breakers, switchboards, Building Management Systems (BMS) and other energy solutions designed for residential and small businesses, buildings, data centres, and industries. We look forward to a continuous collaboration with our partners to drive innovation and create sustainable energy solutions for the future.”

Schneider Electric drives digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centres, infrastructure, and industries.


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NITDA, SMEDAN to Institutionalize SMEs in Nigeria

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The National Information Technology Development Agency NITDA and the Small and Medium Scale Enterprises Development Agency of Nigeria (SMEDAN) have agreed to institutionalise the activities of the Small and Medium Enterprises, (SMEs) in the country.

The proposed agreement was revealed at a meeting between Kashifu Inuwa, CCIE, the NITDA’s Director General,  and his SMEDAN counterpart, Mr Olawale Fasanya. The meeting was held at NITDA’s Corporate Headquarters, Abuja,

According to NITDA’s boss, institutionalising the SME would serve as a catalyst for creating wealth and prosperity, adding that, “We have between 60-90 per cent of our businesses under SMEs, but operating informally, how can we formalise them so that even the government can benefit by collecting taxes and have a structure in place to capture the GDP correctly, he queried.

Inuwa noted that most of the Startups the Agency deals with are SMEs who are also trying to solve a real life problem.

He said, “We see Startups as our babies, while for you anybody trying to start any business you see them as your babies. We have startups solving problems in agric, commerce, education, and logistics and so on.”

Inuwa added that the world is moving to smart manufacturing whereby you can design anything on your system and print it using 3D printer.

“We have Digital Fabrication Lab in our Center (the National Centre for Artificial Intelligence and Robotics NCAIR) where you can design all these and manufacture them or prototype them and do mass production.”

He also announced that plans are underway to have facilities everywhere as the goal is for every Nigerian to have access to these kinds of facilities.

Enumerating some of the initiatives which the Agency is undertaking  and the collaboration is into with the big techs to include NITDA Learning Management System Online Academy, the Director General  assured SMEDAN that their SMEs will be on boarded into some of the programs.

“We are also looking beyond SMEs today; we have what we call IDEs  (Innovation Driven Enterprises) which is a process where you start with a mindset that you are solving the immediate problem but the bigger picture is to go global and Information Technology is making it possible for you to reach anywhere in the world.”

Citing the recent research conducted by the Lagos Business School on the booming nature of the Gig economy, the Director General said that as at last year, there were over 2 million Nigerians earning a living through the Gig economy who receive training and work from anywhere using IT, like those doing Bolt and online digital marketing.

Describing the roles of the two agencies as common, the Inuwa said they both exist to develop and help Nigerians create wealth through the use of IT.

“IT is pervasive, anywhere you think of today you need IT to enable it. Our lives revolve around technology,” he noted.

“This kind of collaboration is what can help us have structure to even protect the Gig economy as well”, he concluded.

Earlier in his remark, Mr Fasanya said that they were in the Agency to intimate NITDA of their readiness to further enter into other collaborative areas that will be more impactful to the society.

The SMEDAN’s Director General revealed that they have identified about 70 youths in all the 36 states of the Federation who were trained on different skills, particularly on how to market their products digitally.

While disclosing that his organisation wants their SMEs to  take advantage of the digital space, Mr Fasanya said that would give them required knowledge on  e-learning platforms, e- marketing and so on.


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Airtel Employees Give Students a Reason to Imagine, Provides Access to Digital Education

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Employees of Airtel Nigeria, under its CSR initiative, Employee Volunteer Scheme Initiative, paid a visit to Kuramo College, a government secondary school in Lagos, and donated modern routers, each equipped with 100GB of data and a two-month roll-over access fee.

The connection devices were donated by Airtel’s Information and Technology team, with a mission to empower students with enhanced digital connectivity.

Speaking during the event, Director, Information and Technology, Seun Solanke, said, “Airtel aims to empower young minds by equipping them with the connectivity to imagine and unlock a world of knowledge and opportunities.

“For Airtel, it is no longer about being a smartphone network but giving people a reason to imagine, so that people can explore the possibilities powered by technology and connectivity. The world is evolving, young Nigerians now have access to unlimited possibilities and can now create their own job titles and descriptions, which is why we now have YouTubers, social media Influencers and the likes.”

He concluded by encouraging the students to maximize the provision of connectivity to back up their future imaginations with the right information and resources, in other to ensure a bright future.

The activities under the Airtel Nigeria Employee Volunteer Scheme, said Airtel management, aligns with the company’s commitment to bridging the digital divide in the country and enabling students to leverage the power of the internet, as the distribution of routers with data plans will ensure that students have uninterrupted access to educational resources, research materials, and online learning platforms, regardless of their socio-economic background.


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