Super Brands Must Synergize To Solve Africa’s Problems – Akinwuntan
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has advocated a synergy between super brands in Africa to solve the multifarious challenges facing the continent. Akinwuntan, who made this submission at the International Advertising Association (IAA) Africa Rising 4 virtual conference, posited that recent happenings in the global arena such as covid 19 pandemic further reinforces the need for bigger brands on the continent to collaborate effectively to achieve sustainable solutions to challenges facing the continent.
According to Akinwuntan, “It is not just about digitization but understanding that life itself has deeper substance. What we have learnt in the past 18 months calls for common agenda for human race, an opportunity for collaboration to search for sustainable solutions to the myriad challenges facing the continent. This also reenforces the fact that until we are comfortable, no part of the globe is comfortable. This provides a completely new direction between developed worlds, developing worlds and whatever categorization that you want to bring to the table. With people having to stay at home because of the pandemic, we quickly saw that being disconnected from the economy fabric is much more dangerous than the health risk that we are trying to avoid from the social distancing and stay at home”.
On how Ecobank as an African Super Brand responded to the covid 19 pandemic, Mr. Akinwuntan noted that the bank’s success story in handling the outbreak and spread of Ebola disease in some parts of Africa came handing, adding that the bank’s investment in technology also paid off as it was able to provide financial services seamlessly to its customers in countries where the operates.
“We came out with strategies to ensure that small business and women enterprise leaders are able to learn to improve their capacity and source for labor without physical contact and able to access market without physical contact and be able to be financially strong without having to physically visit distant locations. For the small businesses, it is enabling them to have faith in themselves to be able to see that tomorrow has a brighter future. The covid-19 pandemic was a leveler and therefore everyone felt the impact. For a brand like Ecobank, we needed to demonstrate our ability to reach everyone at the same time. First is knowledge, people need to know, is this circumstance unique to my country, or to my own livelihood? if it is not, what has worked for other people and how have we leveraged it. That is quite a lot of learning that we focused on. We actually partnered with NEPAD and brought about leveraging on technology and capacity building for the small and medium scale business.” Akinwuntan explained.
Aligning with Akinwuntan’s submission, another speaker at the session, Group Executive for Marketing, MTN, Bernice Samuels said it was imperative super brands in Africa have a common platform to address and offer solutions to challenges facing the continent. The captivating session was moderated by Robyn Curnow, Anchor & Host of CNN Newsroom
Earlier in his welcome address, World President and Chairman, IAA, Joel Nettey said the 2-day virtual conference with the theme: ‘Africa To The World’ is aimed at projecting African brands to the world and bringing together the best on the continent to discuss trends and key developments. According to him, “as the most influential network of industry leaders with a broad spectrum of expertise, we help brands grow, strengthen, and forge new paths around the world through meaningful relationships with consumers. We use our thought leadership, initiatives in education and development, and world-class events to help our members navigate through the ever-changing worlds of business and technology. We are delighted to be able to put together this conference in such trying times to add value and bring together those who shape the industry’s future. The African continent is endowed with vibrancy, creativity, culture, its people, and strong brands weaving coherently into what makes the engines of economies move.”
The International Advertising Association’s (IAA) Africa Rising for Leadership Conference 2021 is first IAA virtual conference and it is congregating speakers and participants from across the globe – Nigeria, Kenya, south Africa, USA, Italy, Russia, Malaysia and several other leading countries where IAA has presence.
Abducted Air Vice Marshal Sikiru Smith Regains Freedom
Abducted Air Vice Marshal Sikiru Smith has been released by kidnappers.
It was learnt that the retired General was released in the early hours of Saturday.
The spokesman for the Police in Lagos State, Adekunle Ajisebutu also confirmed that he has been released.
Smith, who is currently the Chairman of Double Wealth Ventures Limited – a dredging and engineering firm – was supervising work on a site in the Ajah area of Lagos State on Monday when masked gunmen invaded the place and shot into the air to scare away people.
The gunmen were said to have whisked him away in a waiting speedboat, after which they sped off.
APC postpones Anambra campaign in honour of Akunyili, others
APC has postponed the flag-off of its Anambra governorship campaign scheduled for Saturday in Onitsha, Anambra, in honour of victims of various attacks in the state.
Governorship election holds in the state on Nov. 6.
The governorship candidate, Sen. Andy Uba, announced the postponement in a statement issued on Saturday in Abuja.
He noted that there had been several attacks by gunmen in Anambra over the past weeks, leading to destruction of properties and killings.
This, he stated, included the recent murder of Dr Chike Akunyili, widower of late Dora Akunyili, ex-minister of Information and Communications among others.
“As a mark of respect and honour for all those who have lost their lives I, in consultation with the leadership of our party and campaign council, have decided to cancel the campaign flag-off rally scheduled for Saturday, Oct. 2, 2021 in Onitsha.
“You will all agree with me that our culture and tradition hold lives sacred.
“It follows, therefore, that the safety and preservation of lives of our people must at all times take precedence over any political interest, activities and or associations.
“I, Sen. Andy Uba, will be the very last person to sacrifice or play politics with the lives of our people. Neither will I allow anybody to do so under my watch,’’ he stated.
He added that like every other well-meaning member of the public, he had followed with much sadness and grief, the recent unfortunate and mindless state of violence and insecurity in Anambra.
“I have also watched with disdain, obvious breakdown of institutional capacity and inability of the All Progressives Grand Alliance (APGA)-led state government to address security challenges and prevent the state from further descent into anarchy and chaos.
“My sincere condolences to all who have lost loved ones in the on-going politically motivated killings in Anambra.
“To `Ndi Anambra’ who are living in fear of their lives and property as a result of the on-going mayhem, I bring you a message of hope.
“Hope in God under whose divine protection as Christians we go about our daily activities; hope in our collective capacity and republican nature to resist all forms of evil,’’ he stated.
Uba, however, charged residents of the state to go about their normal lawful businesses, adding that they should be vigilant and take necessary precaution to ensure that their lives and property were not put in harm’s way.
He assured that he would ensure that politically-motivated killings in the state were brought to an end to enable the people of Anambra to go about their lawful businesses without fear of any sort.
Shocking! 52-Year-Old Man Arrested For Defiling Biological Daughter In Ogun (Photo)
A 52-year-old man Adebayo Akinrinoye was on September 23rd arrested by men of Ogun state police command for unlawfully having carnal knowledge of his 16 year old daughter (name withheld).
The suspect, a resident of no 11 Kabiru close, Matogun Agbado Ogun state was arrested following a report via a written petition brought to Agbado divisional headquarters by the victim.
In the petition, the victim alleged that her father had been sexually abusing her since she was 14. She stated further that all her efforts to stop her father from this ignoble act fell on his dead ear hence her report.
Upon the report, the Dpo Agbado division csp Kehinde Kuranga quickly detailed his detectives to the scene where the suspect was promptly arrested.
On interrogation, the suspect confessed to the commission of the crime but pleaded for forgiveness from his daughter.
Uncover the identity behind every number that calls you.
Zoning may leave us with useless presidential candidates in 2023 – Sanusi
Former Emir of Kano, Alhaji Muhammadu Sanusi has expressed fear of zoning leaving Nigeria with two “useless presidential candidates” in 2023.
In an interview with Arise TV, Sanusi stated that he has always opposed the idea of rotational presidency. He noted that what Nigeria needs at the moment is a President who can deliver.
The former Central Bank of Nigeria Governor said;
“I have always objected to this idea that we should focus on where the president comes from. We have got southern governors saying we want the presidency and some northern governors saying that they want it in the north. Have you noticed that nobody has given the name of what they want?
“This whole thing is to corner the presidency to one part of the country and the big masquerade will come out. And that is why at the end of the exercise, you end up as Nigeria… presented with two useless candidates. Those who want to be president should show their face either from the north or the south.
“Meanwhile, we have before us very serious issues. You have a simple issue of electronic transmission of results which is designed to make the electoral process fairer and you have people saying that they do not want it, shamelessly announcing to the country that they want to rig. Why are we not talking about these issues?
“The greatest weakness we have as a country is that we do not think. We are very smart when it comes to making money by doing our work but we do not apply critical intellect to and these guys just take the entire country for a ride.
“Give me a president from any part of the country who can deliver and we should vote for him. He is not taking the presidency to his hometown.”
On distribution of funds, Sanusi noted that though he is an advocate of less money at the centre, governors are also guilty of not distributing funds to the local government.
He said;
“I don’t want to talk about this matter because it’s in court but what we need is to learn how to distribute our resources properly.
“I’m a strong advocate of less money at the centre because this puts too much concentration on money from Abuja but the bulk of this Tax problem comes from not implementing what we have.
“These governors fighting for VAT are extremely undemocratic they hold on to money meant for the local government yet keeps complaining.
“The state governors complain what federal government do to them but don’t care about what they do to the local government, thereby ignoring the constitution.
“If we really want to put in for federalism we need to respect our constitution and do it at all tiers of government then I believe our constitution can work.
“ Let’s make what we have work and we’ll see this constitution is not that bad.”
FINTECH 5.0: EVALUATING HOW FIRSTBANK STRENGTHENS COLLABORATION
…To drive financial inclusion
It was Sir Isaac Newton, in his letter to Robert Hooke in 1675, who wrote the now-famous quote: “If I have seen further (than others), it is by standing on the shoulders of giants.”
The shoulders of giants Sir Newton referred to has to do with leverage provided by the discoveries and experiences of people who have gone before or walked that same path earlier, that pave the way for and enable other people and a new generation to take things to a totally new dimension.
The truth is, giants whose shoulders provide such leverage to the next generation can be found in various fields and various nations. In Nigeria, for example, such giants exist in various fields and they are known and recognised.
Take the fintech (financial technology) space in Nigeria, where one bank is known to have stood as a giant with very broad shoulders, having capacities that have been built up and accumulated over 127 continuous years. Every year since 2016 (apart from 2017 when it was implementing ideas from 2016, including a Digital Innovation Lab), this well-recognised bank has provided a platform for the most robust engagement of the fintech industry in Nigeria. Tagged Fintech Summit, the annual engagement has continued to help in catalysing the fintech sector to ever-higher levels from year to year.
Held in Lagos the commercial capital of Nigeria and arguably the fintech capital of Africa, given Nigeria’s status as the leading nation in the fintech space in Africa, the annual FirstBank Fintech Summit has attracted an average of a thousand participants, who are mostly fintech owners, workers and enthusiasts, yearly. Last year’s Summit, Fintech Summit 4.0 with the theme
“How Blockchain and Artificial Intelligence will Disrupt Fintech in Nigeria”, however, drew an unprecedented number of participants – over 6,000 from across 52 different countries. It was the first virtual Summit due to the restrictions imposed because of the COVID-19 pandemic and it featured as keynote speaker Silicon Valley-based innovator of international repute, Chinedu Echeruo, who founded HopStop that was later sold to Apple for US$1 billion. Imagine the inspiration, dreams and aspirations young people soak up while listening to speakers with such a profile.
Far from being one-directional – with all the talk flowing from only the speaker to the audience – the yearly Summit is actually a platform for multidimensional engagement involving various stakeholders in the fintech industry – operators, regulators, investors, enthusiasts, fintech journalists and writers, bankers, et cetera.
It offers an unequalled opportunity for networking among fintech and other stakeholders, leading to opportunities for collaboration within the community. For small businesses and start-ups powered by FirstBank’s support, the annual Summit has been a veritable platform for showcasing them. The platform has also served for the announcement of policy initiatives coupled with pronouncements that provide clarifications to policy. This is due to invitations extended to regulators and the important role they are assigned in conversations facilitated during the Summit.
The Summit that preceded last year’s, i.e., the third edition of Fintech Summit 3.0 held in 2019, featured another heavyweight in Nigeria’s fintech industry, Victor Asemota, founder of Swifta Systems & Services, as keynote speaker. The theme “Banking + Tech = Solving Real Problems”, included panel sessions featuring experts with over two hundred combined years of experience in both the financial and technological industries.
They applied their knowledge, expertise and experience to address challenges in the technologically-driven business world, structured in terms of Solving Business Problems; Solving Regulatory, Security and Legal Problems; and Solving Lifestyle Problems. At the end of the Summit, participants must have felt that the Summit delivered on the confidence the Chief Executive Officer of FirstBank, Adesola Adeduntan, had expressed when he remarked in his welcome address, “I am optimistic that every organisation represented here will be empowered to provide services with greater speed and solve real societal problems to the advantage of the Nigerian populace through the insights that will be gained from this event.“
Fintech Summit 3.0 had built on the success of the second edition, Fintech Summit 2.0 held in 2018, which had “The Future of Banking – The Role of Artificial Intelligence (AI) and Big Data” as a theme. Adia Sowho, the Managing Director of Mines in Nigeria, had, as the first keynote speaker, stressed the importance of collaboration between legacy banks and fintechs in the overall good of their shared financial services space. The Deputy Managing Director of FirstBank, Gbenga Shobo, had, in his welcome address, said that FirstBank was committed to finding the right balance in its approach in supporting the budding fintech industry. It is gratifying that the bank has since found that right balance and pushed ahead enthusiastically with the continual annual engagement that is its yearly Fintech Summit.
For those who like to bring up the argument that deposit money banks (DMBs) and fintech are rivals competing in the same space for the same customers and wonder why FirstBank, a leading deposit money bank, would itself be involved in efforts to catalyse the fintech industry, they need to wake up and smell the coffee. FirstBank is continuously evolving and staying on the cutting edge of technology in order to better serve its customers, who are themselves evolving and adapting to newer and more efficient and convenient technologies as they become available.
And FirstBank is on a journey to a future where it is happy, in the spirit of the African tradition of Ubuntu, to take all fintech along with it. In the words of another famous quote, “The sky is too big for two [or many] big birds flying in it to collide.” FirstBank believes there is ample room for all players – deposit money banks, fintech, et cetera – to fulfil their unique roles. Therefore, collaboration, not competition, is FirstBank’s watchword. And FirstBank considers fintech partners in progress in its avowed commitment to driving financial inclusion.
FirstBank’s own evolution and the transition is causing some people to question its continuous classification by the Central Bank as a deposit money bank (with a preponderance of bricks-and-mortar banking operations) rather than a digital bank. And the reasons for their argument cannot be easily waved aside. In 2020, for example, over 85 per cent of the banking transactions that were required by customers of FirstBank were performed on the bank’s self-service channels.
That means customers of the bank only needed the attention of the bank’s staff or branches for just 15 per cent of all the banking transactions they required in 2020. There are now as many as over 16 million customers between FirstBank’s digital channels of online banking (called FirstOnline), mobile banking (christened FirstMobile) and USSD banking (called *894# quick banking).
Between FirstOnline and FirstMobile, a growth of 21 per cent in the user base was experienced in 2020. Customers on both platforms conducted approximately 256 million transactions worth N15.7 trillion in the same year. FirstOnline, as of June 2021, had an impressive 597,466 customers on the service, a 17 per cent growth on the previous year and 578,292 transactions per month, averaging a value of N388 billion per month.
For FirstMobile, besides the impressive gain in numbers, it gained recognition as “Best Mobile Banking App” at the Global Finance Best Digital Bank Awards, for providing excellent self-service through its user-friendly app. FirstMobile had, as of June 2021, 4,596,203 users on the platform, which is a nine per cent growth on the previous year and an average of 27,730,830 transactions every month. While these numbers point to the giant statue of the bank, none of it excites FirstBank as much as Firstmonie, because of its invaluable role in driving financial inclusion at the grassroots level, one of FirstBank’s overriding commitments.
Firstmonie, the agent banking network of FirstBank, currently has over 130,000 agents across the country, making it the largest bank-led agent network anywhere in Africa. As the foremost financial inclusion service in the country, it has achieved over 750 million transactions worth N15 trillion (about US$30 billion) processed from inception to date.
Over 295 million of those transactions with a total value of N6.65 trillion were processed in 2020 alone – the same year COVID-19 caused widespread disruptions across the globe. Firstmonie agency banking scheme has empowered agents across all Local Government Areas in the country, providing employment to thousands of people.
FirstBank through the Firstmonie platform further supports the fintech industry via partnership collaborations with local and international fintechs. All these are geared towards expanding financial inclusion and providing a variety of services to customers of the bank with giant shoulders that customers and fintechs can stand on to see further.
As for Sir Isaac Newton, the giant of a scientist whose famous quote began this piece, if he could read us from the grave, he would feel very proud today to see that celebrated line from his 1675 letter being aptly used to represent the relationship that exists between the broad, energetic and dynamic shoulders of Nigeria’s banking behemoth, FirstBank, and the rapidly emerging beautiful bride of Nigeria’s economic sectors, the fintech industry. This relationship climaxes every year in the annual Fintech Summit and the forthcoming Fintech Summit 5.0 promises to take the relationship to a whole new dimension.
‘Fani-Kayode Is Not Real, He Is Practicing Stomach Politics’ — Gov. Wike
Nyesom Wike, the Governor of the Rivers State has played down the significance of the defection of a former Minister of Aviation, Femi Fani-Kayode, from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).
According to him, Fani-Kayode is ‘not real’.
Recall that the former minister had recently defected to the APC and was warmly received by President Muhammadu Buhari in the company of some top APC members at the Aso Rock Villa in Abuja. He is expected to be formally received into the APC in Abuja next week. But Wike is not troubled by the PDP’s Fani-Kayode’s loss.
“I don’t know why people are shocked by Fani Kayode’s defection. People make the mistake of taking anyone who is vocal serious. Some people talk just for people to find them something to eat, some people talk because of the problems they have, so that they can be saved — if they will be saved. Femi Fani-Kayode and I are not friends. I don’t like something that is too artificial,” Wike told BBC News Pidgin on Friday.
He added: “Stomach politics is not good. Nothing beats integrity.”
SuperTV for MTN Zero Data App Download Begins Today
The much awaited SuperTV for MTN Zero Data App Download begins Today, October 1st, 2021.
This good news coincides with Nigeria’s 61st Independence Anniversary, which has made entertainment watchers look forward to the new innovative and disruptive product from SuperTV in strong and disruptive partnership with MTN.
The SuperTV for MTN Zero Data App will enable Nigerians to enjoy their Independence holiday unbounded. It provides Nigerians a limitless entertainment streaming without watching their data? It is a case of watch your movie! Not watch your data.
To download the SuperTV for MTN App is easy and convenient. The ‘User’ downloads the App from the App Store (Google play store or Apple store) – that is the only time the internet is required. You can download the App through this link – https://supertv.ng/app
It sounds too good to be believed. But it is real. To have a test of this reality and experience, all an MTN network subscriber needs to do is to download the App beginning today, Nigeria’s 61st Independence Anniversary – to start a whole new experience – a flourishing world of video and entertainment streaming. Quadri Balogun who attended the SuperTV brand unveiling on September 15th, 2021, at Victoria Hall, Ebony Life Place, Ademola Adetokunbo Street, Victoria Island, Lagos, said that he can’t wait to download the App to confirm this innovation.
“At a time when Data is a major issue, I think that this will set this brand apart and in no time place it in the lead as a barrier-breaker, as long as entertainment video streaming is concerned.”
For him, this would mean abundance of entertainment. Some are still in doubt just wishing that truly this Zero Data App will be available for download come October 1st.
“Today is that expected date to begin the download. We can’t wait,” Balogun said.
Independence Day: Jonathan Strong Message To Nigerians
Former president Goodluck Jonathan has called on Nigerians to be optimistic about the future of the country, in spite of the challenges currently being faced.
Jonathan made the appeal in his goodwill message issued on in Abuja to Nigerians on the occasion of the nation’s 61st Independence anniversary.
According to ‘GEJ’, Nigeria held abundant promises for the citizens, adding that the country has what it takes to overcome today’s threats and trials.
The former president encouraged the leaders and the citizens to rededicate themselves to the virtues of equity, justice, tolerance and strive to give their best for the good of the nation.
“I join all citizens to celebrate the 61st Independence Anniversary of our great nation, Nigeria.
“As we mark this day of freedom, it gives us the opportunity to reflect on our progress, celebrate our humble attainments and ponder over those dreams that are yet to be fulfilled.
“We may have hiccups along the way and challenging times that might be stretching our resolve and determination to forge ahead. But we should not relent nor succumb to fear, discouraging trials and threats of today.
“We will never lose hope in our country and in our indomitable spirit and capacity to overcome difficult times, seize the moment and conquer,” Jonathan said.
