Scatec Solar has signed an agreement with CDIL, a Canadian renewable energy development company focused on Africa, and BPS, a Nigerian strategic consulting firm, securing the 100 MW (DC) Nova Scotia Power plant located in Jigawa State, Nigeria. This agreement was announced in connection with Scatec Solar’s second quarter results.
The Nova Scotia project company, signed a 20-year Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading Plc (NBET) on July 21st, 2016.
“Solar power in Nigeria has significant long-term potential, and we want to take part in the development of this new market. This investment is the culmination of an extensive review during which the Nova Scotia Power project stood out thanks to its exceptional fundamentals. With the quality of its site, development standards and equity funded by Scatec Solar and its partners, the project is ideally positioned to progress rapidly to financial close” said Raymond Carlsen, CEO of Scatec Solar.
“We recognised the importance of partnering with a sponsor able to bring the project to financial close and with whom we share a long-term vision. We are proud of teaming up with Scatec Solar, who has demonstrated its unique ability to deliver similar projects in Africa”, said Arif Mohiuddin, President and CEO of CPCS, the parent company of CDIL.
A long-term player with an installation track-record of close to 600 MW, Scatec Solar will develop, build, own and operate the solar power plant in Jigawa. The project is expected to reach financial close in 2017 and commercial operations 12 months thereafter.
Currently, Scatec Solar produces electricity from 404 MW of solar power plants worldwide and is a leading independent solar power producer in Africa with nearly half of this capacity located in the region.
Scatec Solar Secures 100 MW Solar Project in Nigeria
FOR THE RECORD
A PAPER ON THE PROPOSED COMMUNICATIONS SERVICES TAX BILL BY OLUSOLA TENIOLA, PRESIDENT OF THE ASSOCIATION OF TELECOMMUNICATIONS COMPANIES OF NIGERIA (ATCON) AT THE LAGOS CHAMBER OF COMMERCE & INDUSTRY’S DIALOUGE SESSION ON THE PROPOSED 9% COMMMUNICATION SERVICES TAX BILL HELD ON AUGUST 17, 2016 AT COMMERCE HOUSE, 1, IDOWU TAYLOR STREET, VICTORIA ISLAND, LAGOS.
Protocols,
- Distinguished President of Lagos Chamber of Commerce and Industry
- Stakeholders
- Ladies and Gentlemen
Appreciation
I want to sincerely appreciate the organizer of this very important event, “The Lagos Chamber of Commerce & Industry”, for creating a platform to have a dialogue session on the proposed 9% Communications Services Tax. The Association of Telecommunications Companies of Nigeria (ATCON) is happy to identify with this strategic initiative to protect investments made in the telecom industry from undue pressure from the government in the form of yet additional burden on our members that are already overtaxed by all tiers of government (some of them: AOL, VAT, RoW(s), Levy permits, duties etc).
The Growth of Information and Communication Technology during the last few years has been phenomenal and tremendous. It has had a positive impact on every aspect of human life. There is no doubt that the emergence and liberalization of this sector has also impacted positively on revenue accruable to government , employment generation (both Direct and Indirect), Foreign Direct Investment (in tens of billions of dollars) and a host of other positives which time would not permit me to mention.
However, as a way of…..
Introduction
The Association of Telecommunications Companies of Nigeria (ATCON) is a professional, non-profit, non-political umbrella organization of telecommunications companies of Nigeria. It is also the premier Association that was formed by technocrats in the telecoms industry to facilitate as well as accelerate the growth and development of the Nigerian Telecommunications Industry and this we have been doing for just over two decades in Nigeria.
ATCON was formally inaugurated on December 10, 1993, with a membership profile made up of indigenous and multinational telecommunications companies operating in Nigeria. Membership of the Association has since its inauguration grown to over 100 companies.
The Association holds meetings with government at all levels with the sole aim of influencing government policy in order to create an enabling operating environment for members as well as to protect telecoms/ICT investment in Nigeria.
Background to our Position
Generally, Taxation is one of the many ways through which governments all over the world generate income to be able to discharge their duties to the citizens.
Government at all levels make collections of taxes mandatory through enactment of policies. The contributions of the Communications sector was meagre some fifteen years ago but through the concerted efforts of some patriotic and dedicated experts in the telecommunications sector under the aegis of the Association of Telecommunications Companies of Nigeria who advocated for the liberalization of the sector, the sector is now contributing revenue of well over 8% to the nation’s GDP.
ATCON believes any calculated actions that have potentials to stifle further contribution of the telecoms industry to our GDP must be avoided by all tiers of government in Nigeria as the perceived benefits of imposing a Communication Service tax on telecoms subscribers has the potential to erode if not destroy the achievements that have been made since the telecoms sector was liberated. We therefore advise both the House of Representatives and the Senate (the Legislative arm of government) to discontinue with the bill.
These are a few of our reasons…..
Decrease in the Inflow of FDI to the Sector
The general rule of investment or principle of investment is that institutional Investors will take their investible funds to countries where the tax rate is low or lowest. As we all know that Nigerian telecoms subscribers are already paying tax because VAT is embedded in calls made and data consumed. If the bill sails through it would reduce the subscribers’ consumption of data and reduce length of a voice call, this will result in drop in revenue that would accrue to telecoms operators which will in turn reduce the contribution of the sector to our GDP.
The Return on Investment (ROI) would be badly affected as a result of the above illustrations. Nigeria as a nation needs a lot of investible funds to build infrastructural facilities and provide employment for her teeming population and especially our growing youth. As we know that Nigeria’ telecom industry still needs circa 50,000 base stations to be able to improve on Quality of Service and to reach the unserved and underserved parts of the nation.
ATCON’s position is that whatever we are doing as a nation must not be done to deter investors from staking their hard earned money on the Nigerian telecommunications businesses, in other words, our policies must continue to be investment friendly. It has been established that revenue from voice is still significant and it must be stressed here that the investment that is required to deepen the penetration of Broadband in Nigeria is much greater than the one we used to provide voice telephony. In view of this, the said Communications Service Tax bill should be stepped down so as to encourage investors and make the sector more attractive for foreign direct investors.
ATCON is working with other relevant agencies to increase the Foreign Direct Investment to the sector which is highly capital intensive. This cannot be achieved if the government is considering introducing Communications Services Tax, which will deter further investments to be made.
Loss/Erosion of Innovation and Creativity
ATCON considers the proposed Communications Services Tax bill unnecessary and prohibitive because the operators in the sectors are already faced with multiplicity of taxation. Imposition of Communications Services Tax bill could stifle innovation and creativity in the sector and this would automatically reverse the gains already made in the past decade. This might lead to increase in unemployment, decrease in revenue accruable to government which would heighten the county’s poverty level.
Telecoms Services Unavailability in Some States
Governments at all levels have at one time or the other have expressed the need to gear up the use of ICT to grow and develop their various constituencies. The application of the proposed Communications Services Tax would definitely be a clog in the wheel of roll out of broadband services for the development of the nation-Nigeria. It means that telecommunications services would not be available in some state of the federation.
Speeds-up Chronic Recession
The high taxation takes so much away from both the telecoms operators and subscribers that little or nothing is left to run the business. If government tries to boost the economy with increased government spending, the result is stagflation (simultaneous high inflation and unemployment) instead of prosperity. The only cure for stagflation is to cut both taxes and government spending.
Conclusion
ATCON believes any action that has the potential to derail the telecoms industry should be avoided by all tiers of government in Nigeria as the benefits of imposing a Communication Service Tax on telecoms subscribers are far lower than the revenue that it is going to create for the government. In view of this and other reasons enumerated above, the Association’s position is that the proposed Communications Service Tax bill should be stepped down.
Thank you all for this opportunity and please accept our esteemed regards.
Olusola Teniola
National President
NIA Chairman Unveils 4 Strategies to Grow Insurance Sector
Mr. Eddie Efekoha, Chairman, Nigerian Insurers Association [NIA] has unveiled strategic four-model Plan of Action to grow the insurance sector in Nigeria.
Efekoha listed the four strategies as Stakeholders Engagement, Market Development & Discipline, New NIA Building Project and Educational Endowment Fund during his official investiture in Lagos.
He said the stakeholders’ engagement is intended to address the knowledge gap between the insurance industry and relevant policy-makers in the country.
“Very often, insurance as an instrument for financial intermediation is misunderstood by policy-makers. It is therefore necessary to enter into constructive engagement with relevant stakeholders to educate them on the workings of insurance business and to fully equip them to be able to respond adequately to the rising cases of fraudulent claims in the market.”
The NIA chairman lamented the heavy burden imposed on the industry by CITA 2007, saying the situation further strengthens the need for insurers to continually engage with tax authorities to amicably resolve the issues and avoid areas of future conflict.
On market development & discipline, he said: “During my tenure, collaborative efforts will be made at enforcing market discipline amongst industry players to encourage market development and sustainable business practice in the industry.”
He said the measure will involve ensuring that all compulsory insurances are enforced, explore areas of collaboration, particularly on shared services to reduce overhead costs, ensure on-going implementation of risk-based supervision is continued with input from NIA and review the NIA constitution to make more dynamic in response to the changing business environment.
Efekoha also canvassed the establishment of Educational Endowment Fund to promote insurance education in the country by encouraging research and hardwork in the nation’s tertiary institutions of learning.
“I want to restate that the NIA has and will continue to remain true to its legacy as an institution that exists to champion the cause of the insurance industry and policy-holders. We will ensure that the founders’ sense of purpose will be upheld by us at all times by joining hands with other stakeholders to build an insurance industry that is consumer-centric.”
Olashore: Brexit Good for Better Nigerian Education
The Chairman, Board of Governors, Olashore International School, Prince Abimbola Olashore says the recent withdrawal of the United Kingdom (UK) from the European Union (EU) is a huge opportunity for Nigeria to raise her education standard, and meet a growing education need-both in quality and quantity.
He enjoined the Nigerian Government and the entire educational sector to up its games in the area of education.
Speaking based on statistics from the UK Council for International Students Affairs, he noted that Nigeria is the third top non-European country with the highest population of foreign students in the UK, with a very high enrolment between 2014 and 2015.
According to him, the new immigration visa rules stipulates that immigrants on skilled worker visas (Tier 2 visas) from non- European countries, including Nigerians, earn at least £35,000 (N9.5m) per annum or face deportation. This presents a tough scenario for many. And with the current exchange rate wide swing, it is really time to look inwards.”
“In the light of this, I want to implore the Nigeria Government to up her game in the area of education and invest in cresting long lasting infrastructure. We at Olashore International School have also engaged in series of activities to increase the standard of education given to the students. We ensure academic excellence, nurture children to their full potentials, and developing these children for the 21st century leadership. At Olashore International School, our aim is to provide education comparable to the best in the world, blending academics with discipline, strong value system and real life skills.”
Explaining more on this, he pointed out that most of our youths are beginning to take up entrepreneurial skills.
“The way the country is going now, most people are going to work for themselves. Jobs might be on the increase, but more and more of the population will work for themselves so what is much more important are things that has to do with entrepreneurial skills in addition to the technical ones. More than ever before, the degree that is most relevant now is the degree of creativity. So the education of tomorrow is about teaching life success skills and better preparing students for the challenges that lie ahead.”
Similarly in his remarks at the interactive session, the Principal, Olashore International School, Mr. Derek Smith, confessed that the current Nigeria educational system fashioned after the British prototype needs to be further fine tuned to meet the practical challenges of modern day labour market.
“The over 150 year old British Educational System was designed at inception to prepare graduates for civil service job training, but that such civil-service focused academic curriculum needs to be further advanced. To this end, Olashore International School was founded with a unique vision of drilling its students who are usually between 10 and 16 for self-reliance and dynamic leadership. Developing all rounded global leaders for the 21st century is at the core of what we do at Olashore International School. Leadership has always been at the heart of the school and as Nigeria continues to grow and change, it is vital that young leaders are developed with sound moral values, a strong academic background and the full set of competence to be successful in the 21st century.”
According to him, the school has been recognised for its outstanding educational programmes which are backed by strong policies to ensure that children are kept safe and secure all the time.
This recognition fetched the school series of awards like the British Council International Schools Award, Osun State Award, and many others.
More recently, the Council of British International School (COBIS) inducted the school for its outstanding performances, its integration of international work into its curriculum and its successful work with GL Education.
500m Africans Subscribe to Mobile Services
More than half a billion people across Africa are now subscribed to mobile services as the continent continues to migrate rapidly to mobile Broadband networks, reveals a new GSMA study.
“More than half a billion people across Africa are now subscribed to a mobile network, providing them not just with connectivity but a gateway to a range of other essential services in areas such as digital identity, healthcare and financial services,” said Mats Granryd, Director General, GSMA.
“The rapid move to mobile broadband networks is also unlocking new opportunities for consumers, businesses and governments, growing an ecosystem that last year added more than $150 billion in value to Africa’s economy.”
Network Investments and Smartphones Driving Mobile Broadband Adoption
The report finds that there were 557 million unique mobile subscribers across Africa at the end of 2015, equivalent to 46 per cent of the continent’s population, making Africa the second-largest – but least penetrated – mobile market in the world.
Africa’s three largest markets – Egypt, Nigeria and South Africa – together accounted for around a third of the total subscriber base. The number of unique mobile subscribers is forecast to reach 725 million by 2020, accounting for 54 per cent of the expected population by this point.
African mobile subscribers are rapidly migrating to mobile Broadband networks and services, a result of ongoing network rollouts and the increasing availability of affordable mobile Broadband devices and tariffs.
Mobile Broadband (3G/4G) accounted for just over a quarter of total connections2 at the end of 2015, but is expected to account for almost two-thirds by 2020. By mid-2016, there were 72 live 4G networks in 32 countries across Africa, half of which have launched in the last two years.
Meanwhile, the number of smartphone connections3 in Africa is forecast to more than triple over the next five years, rising from 226 million in 2015 to 720 million by 2020.
Mobile’s Contribution to African GDP, Jobs and Public Funding to Increase
The use of mobile technologies and services across Africa generated $153 billion in economic value last year, equivalent to 6.7 per cent of the region’s GDP4.
This contribution is expected to increase to $214 billion by 2020 (7.6 per cent of expected GDP) as countries in Africa continue to benefit from the improvements in productivity and efficiency brought about by increased take-up of mobile services.
Africa’s mobile ecosystem also supported 3.8 million jobs in 2015 and made a $17 billion contribution to the public sector via general taxation. The number of jobs supported is forecast to rise to 4.5 million by 2020, while the tax contribution is expected to increase to $20.5 billion.
The report also explains how mobile is powering innovation and entrepreneurship across Africa. It notes that there are now approximately 310 active tech hubs across the region, including 180 accelerators or incubators. Mobile operators are supporting this ecosystem by opening up APIs to third-party developers in areas such as messaging, billing, location and mobile money, which has allowed start-ups to scale quickly.
Mobile technology is also playing a central role in addressing many of the social challenges in Africa, including the ability to provide citizens with official identities, tackling the ‘digital divide’ by enabling access to the mobile Internet, and delivering financial inclusion via mobile money services.
The number of mobile subscribers in Africa that access the mobile Internet has tripled in the last five years, reaching 300 million by 2015, equivalent to a quarter of the African population. An additional 250 million subscribers are expected to become mobile internet users by 2020, bringing the total to 550 million (41 per cent of expected population).
“The positive transformational impact of mobile is being felt more profoundly in Africa than anywhere else in the world; Africa’s mobile industry is at the forefront of helping to deliver the United Nations’ Sustainable Development Goals5,” added Granryd.
“We are focused on creating a better future for citizens and businesses across Africa, providing access to essential information and services, improved employment and economic opportunities, and greater productivity and competitiveness.”
Roche, Kenya Partnership to Improve Breast Cancer Care
First Lady Margaret Kenyatta, Kenya Ministry of Health and Roche Pharmaceuticals Limited have launched key activities that will facilitate access to improved care for patients with breast cancer in Kenya.
The launch builds on the country’s 2015-2020 National Strategy for the Prevention and Control of Non-Communicable Diseases and represents a comprehensive approach to battling the disease.
The program also complements the campaign from the African First Ladies who are committed to expanding access to prevention and treatment services for women with breast cancer.
The public-private partnership’s planned activities include breast cancer awareness programs, improvements in screening and diagnostics, including the placement of a diagnostic instrument capable of advanced testing for seven types of cancer.
Additionally, the collaboration will train five new oncologists and six oncology nurses, provide surgical oncology training, support the development of best practice national treatment guidelines and an increase the number of cancer treatment centers in Kenya.
Access to medicine will be made available patients seeking treatment at public institutions with the government of Kenya and Roche jointly covering the costs. The aim of these measures is to improve access to timely and precise diagnostic services and tailored cancer treatment to make cancer therapy much more effective.
“Strong, healthy women are the foundation of families, of our country, and today in Kenya their health is threatened by a disease that we must catch early. Many women are being diagnosed with breast cancer too late and are dying needlessly when there are treatments available that give them a chance to fight this disease,” said First Lady Margaret Kenyatta.
and Roche demonstrates that we all must play our part to ensure that our mothers, sisters and daughters have the opportunity to fight and win the war against breast cancer.”
Breast cancer remains the leading cause of cancer in women in Kenya with more 50 percent of the cases presenting in women below the age of 50. This places their families and the economy at a great disadvantage.
Every year approximately 4,500 patients are diagnosed with the disease and 2,000 patients lose their lives to this disease. This burden reflects an increasing trend in the number of women being diagnosed with the disease. Early diagnosis and treatment could greatly reduce the burden of breast cancer and improve treatment outcomes.
The Kenya agreement is part of Roche’s Africa Strategy which began in 2015 in seven countries: Nigeria, Ghana, Kenya, Côte d’Ivoire, Angola, Ethiopia and Gabon.
Based on country needs and capabilities, Roche is implementing a wide selection of activities in collaboration with local partners, including healthcare system strengthening, such as local data generation and advocacy for healthcare prioritisation; disease management support, such as awareness, advocacy campaigns and treatment guidelines; and education and market access solutions, including healthcare professional training, private health insurance with local companies and price-volume agreements with governments.
“We are honored to have First Lady Margaret Kenyatta here to launch this important initiative for breast cancer patients and to demonstrate Kenya’s commitment to improving cancer care,” said Markus Gemuend, Head of Roche, Sub-Saharan Africa Region.
“With access to healthcare, women are empowered to build the futures they want for themselves and their families. This comprehensive agreement ensures that breast cancer patients in Kenya will have not only improved access to care and life-changing medicines, but also that the overall healthcare system is stronger to support all Kenyans battling cancer.”
Breast Cancer in Kenya
Breast cancer is the second most common type of cancer in Kenya recording 4,500 new cases every year with 1,969 deaths. Although it occurs in both men and women, more than 90 percent of the cases present in women.
Risk factors include: gender (being female), family history, alcohol and tobacco use, being obese or overweight and exposure to estrogen hormones through contraceptives. In terms of frequency, breast cancer comes second after cervical cancer and is followed by prostate cancer.
Aside from the investments in public-private partnerships, the Ministry of Health is installing mammography machines through the Managed Equipment Services project to enhance early detection and diagnosis of breast cancer countrywide.
It is also providing specialised training opportunities for cancer healthcare professionals to boost capacities at the county level.
Worldwide Tablet Shipments Top 38.7m in 2nd Qtr, 12% Decline
Worldwide tablet shipments, inclusive of slates and detachable reached 38.7 million in the second quarter of 2016 (2Q16) according to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Tablet Tracker.
Growth continues to decline with the market receding 12.3% year over year as vendors begin to refocus their product lines and consumers hold off on purchases.
An overwhelming majority of tablets shipped this past quarter were Android-based systems (65%) followed by iOS which captured 26%, and Windows for the remaining share.
Though this trend has been constant for years there are early signs of change as the Android vendor list has contracted and champions of the OS have begun to offer Windows-based products, hedging against the decline of Android slates.
“The market has spoken as consumers and enterprises seek more productive form factors and operating systems – it’s the reason we’re seeing continued growth in detachables,” said Jitesh Ubrani, Senior Research Analyst with IDC’s Worldwide Quarterly Mobile Device Trackers.
“At present, it’s difficult for Android to compete with iOS or Windows detachable products. However, the next 12 to 18 months will be very interesting as Google launches the next version of Android with better multi-tasking support and as they begin to bring together their two operating systems.”
Despite the continued decline in slates, the form factor still accounts for over three-quarters of the market. “While growth in the detachable category is undeniable, slates continue to represent the vast majority of the segment. Vendors like Amazon, with a very focused approach to positioning, price, and purpose, managed to capture a considerable share of the market. Slate sales are declining but they still serve a purpose and will do so for a long time to come,” said Jean Philippe Bouchard, Research Director, Tablets at IDC.
Tablet Vendor Highlights
Apple’s launch of its second detachable helped lessen its year-over-year decline to 9%, but more importantly it helped raise Apple’s average selling price (ASP) and revenue.
Price reductions on previous generation iPads and the latest Pro-iterations are expected to have the same effect for the remainder of 2016 as the consumer and enterprise audiences evaluate their needs.
Samsung continues to hold the number 2 position in IDC’s ranking with methodical coverage of price bands, features, and screen sizes. Samsung’s results should get better as it arguably leaves the detachable category still untouched. It is also important to note that Samsung’s Galaxy View is not included in IDC’s Tablet taxonomy and therefore not included in the presented results.
Lenovo’s strength is primarily in Asia/Pacific, Europe, and the Middle East & Africa (MEA). The company has managed to grow its share on the backs of unique, sometimes esoteric designs.
Tablets like the Yoga Tab 3 Pro offer a built-in projector and have allowed Lenovo to differentiate themselves from other premium media-focused tablets. However, the majority of its shipments still come from the low-cost Lenovo Tab 2 and Lenovo Tab 3 lineups.
Huawei’s Matebook has been off to a rocky start as the specs have not been reflective of the price. The company’s first foray into the detachable segment seems half-hearted and it’s imperative for this to change should Huawei expect to make any headway in this space. Meanwhile, Huawei’s slates continue to perform well in the Asia/Pacific and MEA regions.
Credit goes to Amazon as its performance this quarter has been reflective of the aptly named Fire tablets. The low price combined with the company’s online presence has once again afforded Amazon a spot in the top 5 vendor list. Given the growing popularity of Amazon’s Prime Day Sale, it would not be surprising if Amazon performs similarly in the next quarter.
It is important to note that the unprecedented growth is partially attributed to the fact that IDC did not include the 6-inch tablets offered by Amazon in 2Q15.
Adeosun, Kari for NIA Chairman’s Investiture on Aug 16
The Nigerian Insurers Association [NIA] will hold an investiture luncheon in honour of its 22nd Chairman, Mr. Eddie Efekoha, on Tuesday, August 16, 2016 at the Grand Ball Room, Eko Hotel & Suites, Victoria Island, Lagos at 11.30 am prompt.
According to a statement by the Director – General of the Association, Mr. Olorundare Sunday Thomas, the investiture ceremony presents yet another wonderful opportunity for the Association to showcase the insurance industry and forge closer ties with the government, investors and other critical stakeholders.
He stated that Insurance Chief Executives, Investors, stakeholders and other corporate players are expected to grace the occasion.
They include Mrs. Kemi Adeosun, the honourable Minister of Finance, Alhaji Mohammed Kari, Commissioner for Insurance, and members of Insurance Committees of both Chambers of the National Assembly. Dr. Layi Fatona, the Managing Director of Niger Delta Exploration and Production Company will be the Chairman of the event.
The formal investiture ceremony follows the election of Mr. Efekoha for a two-year tenure at the Association’s 45th Annual General Meeting [AGM] which was held on Thursday, June 30th 2016.
Other executive members of the Association elected at the AGM include Mrs. Yetunde Ilori, Deputy Chairman, Messrs. Tope Smart and Ganiyu Musa as Honorary Treasurer and Assistant Honorary Treasurer respectively.
Stakeholders Meet Towards ITU Telecom World 2016
In preparation for this edition of International Telecommunication Union (ITU) yearly event, ITU Telecom World 2016, the Local Organisation Committee (LOC) for Nigeria has put in place plans to host a Stakeholders Forum.
The forum which is slated for Monday, September 5, 2016 at the Sheraton Hotel and Towers, Ikeja, is expected to enlighten and throw more light on the benefits that will spring from participation of
stakeholders.
The forum is for Policy Makers, Regulators, Telecommunication Operators, Service Providers, Equipment Vendors, Banks and Financial Institutions, Small and Medium Enterprises(SMEs), Innovators, Software Developers, Original Equipment Vendors, Value Added Service providers among others.
Keynote speakers include the Minister of Communications, Chief Adebayo Shittu; Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta; Managing Director of Galaxy Backbone, Mr. Yusuf Kazaure, his counterpart at Nigerian Communications Satellite Limited (NIGCOMSAT), Ms Abimbola Alale; Acting Director General of National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji among others.
This year’s ITU Telecom event will hold in Bangkok, Thailand from November 14 – 17, 2016.
ITU Telecom World 2016 will provide participants the opportunity to network and showcase their innovations and tap new business models in Information and Communications Technology (ICT) terrain.
Participants will explore importance of collaboration with the digital economy through best approaches, business models and technologies to forge flourishing inclusive ecosystem.
Nigeria has adopted “Smart Communities: The Key to a Digital Nigeria” as theme.
The general theme for ITU Telecom World 2016 is “Collaboration in the digital economy”.
This year’s theme will feature compelling formats ranging from top-level CEO/Ministerial round tables to frank, open dialogues between Governments and Small & Medium business leaders and interactive panel debates.
FBN Insurance, LASPEC Win Inspenonline Awards
Inspenonline Media has given awards to seven insurance firms, one pension fund administrator and the Lagos State Pension Commission (LASPEC) for their contributions in their sectors and the economy.
The Award ceremony, which took place at the 2015 Nigerian Insurance & Pension Awards organised by Inspenonline Media in Lagos over the weekend, saw Stanbic IBTC Pension Managers Limited winning the Pension Fund Administrator (PFA) of the Year award; FBNInsurance Limited, the 2015 Insurance Company of the Year, while its Managing Director, Mr. Val Ojumah was awarded the 2015 Inspenonline Insurance Man of the Year.
Sovereign Trust Insurance Plc got the Corporate Brand of the Year Award, even as Corporate Social Responsibility of the Year award went to Consolidated Hallmark Insurance Plc and Royal Exchange Plc.
Plum Insurance Brokers Limited went home with the Insurance Broker of the Year award, while the Association of Registered Insurance Agents of Nigeria (ARIAN), for the second year in a row, won the Best Professional Group of the Year Award, with Excellence Award going to Lagos State Pension Commission (LASPEC) on behalf of the Lagos State Government.
Speaking on the motive of the award, which started four years ago, the Editor, Inspenonline, Mr. Udo Chuks Okonta, said the award was designed to celebrate organisations and individuals who have helped to reshape activities in the insurance and pension industries and by extension, the economy.
This year’s award, according to him, was organised by setting high standards to judge the operation of companies and state governments that have helped to foster growth and developments in insurance and pension business operations.
“Having harmonised the votes which came from different parts of the world, we benchmarked the scores with the set standard to arrive at the winners we are celebrating today. The award, which is in seven categories, had 25 nominees of which eight winners emerged, even as a state (Lagos) government was recognised for its contribution to the growth of pension business in the country.”
On the theme of the Award ceremony, which is ‘Robust Pension: Key to Better Life After Work’, he said the topic was chosen to help proffer solutions to the challenges presently confronting the Contributory Pension Scheme (CPS) in the country.
He said the Federal Government has accumulated over N140 billion pension liabilities in recent times, even as some states were unable to remit contributions for the past two years, whilst some private sector employers are finding it difficult to remit or embrace the scheme.
Nigerian Insurers to Launch Branding Campaign Oct 1
Operators in the Nigerian insurance industry will commence an industry branding campaign on October 1, 2O16. The initiative is designed to increase public awareness of the benefits derivable from patronising insurance products and services.
This was one of the key decisions taken at the Insurers Committee meeting which held in Lagos yesterday.
Mr. Oye Hassan-Odukale, Managing Director/CEO of Leadway Insurance Company Limited, who briefed the media after the meeting said the branding concept is to improve penetration for insurance businesses in the country.
Odukale said the insurance industry is also finalising discussion with the Nigerian Inter-Bank Settlement System [NIBSS} on a common technological platform to reduce the cost of servicing the policies of customers. He added that the effort is to learn from what NIBSS did for operators in the banking sector.
MainOne Attains West Africa’s 1st SAP HANA Certification
MainOne, the premier connectivity and data center Solutions Company, yesterday announced that its Data Center subsidiary, MDXi is now an SAP-certified provider of Infrastructure Services for SAP® solutions. This new certification confirms the ability of the company to deliver high-quality cloud and infrastructure operations services for customers running SAP solutions and recognises the company as the region’s first SAP Certified Data Center.
The certification will enable MDXi to host and manage SAP applications utilizing the company’s enterprise cloud platforms, across its private, public and hybrid cloud solutions, via a consumption-based delivery model.
As a SAP-certified provider of hosting services, MDXi will offer a cost-effective yet reliable delivery model for mission-critical applications for customers of SAP. SAP customers that rely on MainOne’s data center for hosting services will be empowered to focus on the business value of their solutions and benefit from reduced operational expenses that a commercial data center provides.
Receiving the certificate, the Chief Executive Officer of MainOne, Funke Opeke stated: “We are pleased to receive the SAP certification for Infrastructure Operations Services, as it validates our commitment to providing world-class data center and cloud solutions in Nigeria. With this certification from SAP, it is now possible for Nigerian enterprises and businesses to host SAP applications in-country on MDXi’s Cloud platform and optimise their accounting processes, data analytics and sales chain management. This will improve response times for SAP applications, ensure data security and assure more cost effective subscription charges.”
In his comments during the certificate presentation to MDXi, Managing Director of SAP West Africa, Kudzai Danha said: ”More than ever, SAP Africa is excited about the SAP HANA® certification of partners like MainOne. The current market demand for attractive business applications in the cloud presents great business opportunities and through SAP HANA, customers can innovate and redesign business processes, capitalising on the agility of this unique platform.”
SAP HANA Cloud is an in-memory platform that runs analytics applications smarter, business processes faster and data infrastructures simpler! It is the foundation for all the data needs of a business, removing the burden of maintaining separated legacy systems and siloed data, so business can run simple in this new digital economy.
The SAP certification process is rigorous and culminates with an onsite audit session to determine that the provider meets all the local and global requirements as stipulated by SAP to run its applications. Some of the criteria include quality and knowledge management, data center, network and connectivity, back up and data recovery, IT service management and project management.
In order to meet this certification requirements, MDXi demonstrated its professional competence in all aspects of infrastructure operations including possessing a comprehensive operations manual, system landscape diagrams, security guidelines, OS access, required technical skills amongst others.
$81bn Mobilised in 2015 to Tackle Climate Change
Climate finance totalling $81 billion was mobilised for projects funded by the world’s six largest multilateral development banks (MDBs) in 2015. This included $25 billion of MDBs’ direct climate finance, combined with a further $56 billion from other investors.
The latest MDB climate finance figures are detailed in the 2015 Joint Report on Multilateral Development Banks’ Climate Finance, prepared by the Asian Development Bank (ADB) together with MDB partners: the African Development Bank (AfDB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), and the World Bank Group (WBG).
This important contribution to the global climate change challenge was reinforced last year by pledges from all of the MDBs to significantly increase their climate finance in the coming years. They made these pledges in the run up to the COP21 Paris Agreement, the world’s first universal climate accord adopted in December last year by 195 countries.
The report covers the 2015 year and shows that MDBs delivered over $20 billion for mitigation activities and $5 billion for adaptation. Mitigation activities involve the reduction of greenhouse gas emissions through energy efficiency measures and the use of clean, renewable energy sources, while adaptation measures reduce climate vulnerability and increase resilience to climate change through, for example, investing in climate-resilient land-use and water resource management. Since 2011, MDBs have jointly committed more than $131 billion in climate finance.
Among the regions, non-European Union (EU) Europe and Central Asia received the largest share of total funding at 20%; with South Asia receiving 19%; Latin America and the Caribbean 15%; East Asia and the Pacific 14%; the EU 13%; Sub-Saharan Africa 9%; and the Middle East and North Africa 9%. Multi-regional commitments made up the other 2% of the total.
On a sectoral basis, the largest recipient of adaptation funding was for water and wastewater systems (27%), followed by energy, transport and related infrastructure (24%), and crop and food production (18%). Renewable energy received the bulk of mitigation finance (30%), lower-carbon transport received 26%, and energy efficiency activities 14%.
In Africa, where basic energy services remain scarce region-wide, countries are increasingly working to develop their substantial renewable resources to help reverse this trend. To support these efforts, in 2015 AfDB has provided $905 million of its own resources in climate change mitigation finance, backed by $58 million in external resources.
As African countries also look to increase their resilience against climate impacts, particularly in the forestry, agriculture and land use sectors, AfDB has provided $305 million of its own resources, bolstered by $91 million in external funding, to support their adaptation efforts. The Bank is continuously looking for concrete ways to catalyze private sector engagement such as through equity financing, partial risk guarantees, and climate risk insurance.
“At AfDB, we believe that Africa stands at the threshold of an exponential shift in clean energy access, and that over the coming decades African citizens can benefit from a widespread increase in climate-friendly energy use and green development. We have set ambitious goals for our institution to help ensure this happens, supporting innovative projects in solar, wind, geothermal, and water,” said Alex Rugamba, Chair of the Bank’s Climate Change Coordination Committee (CCCC). “In line with our member countries’ requests in preparation of the Nationally Determined Contributions (NDCs) regime, we have particularly focused on institutional capacity building, increasing our support for technical assistance (TA) five-fold from seven projects to thirty-five projects in one year. As countries work to align their development goals with their pledged NDCs in the Paris Agreement, we believe this focus on strengthened capacity is an early signal of commitment to meet these goals. Going forward, this could be an important new area of engagement.”
Given the role of MDBs in catalyzing finance, the inclusion in this year’s report of a common tracking approach for climate co-financing is a significant step forward in making the reporting of climate finance flows more robust and transparent.
MDBs have also been working closely together to harmonize reporting on greenhouse gas emissions and the use of proceeds from MDB green bonds.
Moving forward, the report notes that the MDBs will scale up climate finance activities across multiple sectors, in particular in renewable energy and energy efficiency; low-carbon and climate-resilient cities, regions and industries; low-carbon transport; natural resource efficiency; and climate-smart agriculture and food security.
These efforts will help countries meet their commitments under the Paris Agreement, moving to a low-carbon, more resilient future.
Kaspersky Anti-Ransomware Free for Businesses
Kaspersky Lab has launched Kaspersky Anti-Ransomware Tool for Business –a free software that offers complementary security to protect corporate users from ransomware. To identify ransomware behaviour patterns and protect Windows-based endpoints, Kaspersky Anti-Ransomware Tool for Business leverages two groundbreaking technologies: Kaspersky Security Network and System Watcher [1]. System Watcher’s unique capabilities include the possibility to block and roll-back harmful changes.
Malicious programmes such as ransomware, that infect computers and encrypt critical corporate data, present a serious problem, especially for small businesses.
According to Kaspersky Lab’s global IT Security Risks 2016 survey, nearly 42% of SMBs fell victim to ransomware in the last 12 months. 34% of these paid the ransom and one in five weren’t able to recover their data, even after the demands of cybercriminals were met.
While businesses are encouraged to utilise many additional protection technologies and approaches to achieve efficient security, Kaspersky Anti-Ransomware Tool for Business provides complementary security to those companies that do not have advanced Kaspersky Lab security solutions. Kaspersky Anti-Ransomware Tool for business is a fast, lightweight solution, able to solve one of the greatest security pain points that leads to financial losses for SMBs – ransomware, and in particular, its most dangerous form – Cryptomalware. Cryptomalware activity results in unrecoverable encryption of valuable business documents and forces businesses to pay a ransom to attackers to get their data back. To address this problem and protect Windows-based endpoints, Kaspersky Lab Anti-Ransomware Tool for Business combines two core technologies:
Kaspersky Security Network, a cloud-based service dedicated to processing depersonalised cybersecurity-related data streams from millions of voluntary participants all over the world. With Kaspersky Security Network, delivery of Kaspersky Lab security intelligence happens in a matter of seconds, ensuring fast reaction times and maintaining high levels of protection.
System Watcher is an advanced proactive security technology that scans all important system events, including the creation and modification of operating system files and configurations, programme execution and data exchange over the network. Events are recorded and analysed, and if there is evidence that a programme is performing malicious operations, those actions can be blocked and reversed, preventing further infection.
“In 2015 Kaspersky Lab’s solutions protected 443,920 users and corporate customers worldwide from crypto-ransomware, depriving cybercriminals of nearly $53 million in illegal earnings. Our experts are monitoring the rising problem of cryptomalware and have developed this simple tool, available free of charge, to help combat the increasing threat of ransomware to business-critical assets. Small and medium sized companies do not usually have the profound security expertise required to evaluate or compare dozens of security tools on the market. Kaspersky Anti-Ransomware Tool for Business is compatible with third-party security solutions, and is a complementary measure against ransomware. We decided to distribute it free of charge to give companies the opportunity to evaluate the power of Kaspersky Lab technologies”, said Konstantin Voronkov, Head of Endpoint Product Management, Kaspersky Lab.
The free Kaspersky Anti-Ransomware Tool for Business is compatible with the third-party protection solutions installed on PCs and can serve as second opinion software for the most advanced crypto-ransomware protection.
As a complementary anti-ransomware solution, Kaspersky Anti-Ransomware Tool for Business provides core corporate users with advanced protection from ransomware.
For organisations that demand the best protection for each network level, including security technologies to protect workstations, file servers and mobile devices from all types of malware and today’s sophisticated attacks, Kaspersky Lab recommends using specialised business solutions:
If an organisation has had its data locked, it is worth checking whether it is possible to recover it by visiting the new online portal, No More Ransom.
The No More Ransom project provides users with several decryption tools to help recover files that have been locked by some types of the ransomware, without having to pay the cybercriminals.
Embraer to Sack 4000 Staff
Brazilian plane manufacturer, Embraer announced plans to reduce its workforce by 20% through voluntary layoffs of around 4000 employees, mainly in production and administration units due to global economic recession.
The company noted that around 90% of its revenue comes from exports and the economic crisis has affected demand in mid-sized passenger jets market. In order to reduce the negative impact on the development of new aircraft, such as KC-390 tanker or E190-E2 jet, the reduction of engineering division workforce will be minimal.
Most of the job eliminations will come in Brazil, but there will be layoffs in Embraer’s plants in China and Portugal as well. Through voluntary layoff program, the company expects to save around $200 million per year.
Recently, Embraer lowered its financial results forecast for 2016. The company‘s consolidated revenue will be lower by $200 million and is expected to be $6.2 billion. Planemaker expects delivery of 80 light and 45 large aircraft, compared to 85 and 50 originally planned.