Innovation

Plantation Industries Receives Award for Food Safety

Plantation Industries Receives Award for Food Safety

Business, Food, Innovation, Inside, News
A leading cocoa processing company in Nigeria, Plantation Industries Limited, has won the 2018 Global Food Safety Initiative Markets Awards in food safety. Plantation Industries said in a statement that the award was a reward of its huge investment of capital, expertise and energy as well as seamless good manufacturing practice and strict adherence to hazard analysis and critical control point regime in processing cocoa beans into high food grade cocoa products. The statement said the GFSI Global Markets Awards recognised five companies that must have shown exemplary way on their way to food safety system certification applying to four regions of the world and a special recognition for the company hosting the Global Food Safety Conference. It said Plantation Industries Limited won...
ikOOba Launches BMAC Lloud Accounting Solution

ikOOba Launches BMAC Lloud Accounting Solution

Business, Innovation, Inside, TECHNOLOGY
ikOOba Technologies, a business solution startup in Nigeria, has launched its new cloud accounting software,  the ikOOba BMAC. Launched in October 2016, the BMAC was designed for business owners and their managers to support them to keep a close eye on their business while simultaneously having first-hand information about how well the business is doing. The platform also incorporates the ability for providers of finance to monitor in real-time the performance of a business in their funding portfolios. This increases the credibility of the business owners and the confidence reposed in them by finance providers. The platform creates value for business owners by making them attractive to obtain finance from finance providers. Built to use cloud technology, business owners and managers can
Flour Mills Subsidiary to Unveil N50bn Sugar Estate

Flour Mills Subsidiary to Unveil N50bn Sugar Estate

Business, Food, Innovation, Inside, News
The leading agro-allied firm, Flour Mills of Nigeria Plc, has announced plans to open its N50bn sugar estate, the Sunti Golden Sugar Estate. The firm said in a statement that the Sunti Golden Sugar Estate would be inaugurated on March 15 by President Muhammadu Buhari. Located on the banks of River Niger, in Mokwa, Niger State, the statement described the sugar estate as the biggest agricultural investment in Nigeria to date, owned by a subsidiary of Flour Mills of Nigeria Plc, Sunti Golden Sugar Estate Ltd. According to the statement, the sugar estate features 17,000 hectares of irrigable farmland and a sugar mill that can process 4,500 metric tonnes of sugarcane per day. The statement added that at full capacity, the estate would be expected to produce one million tonnes of su...
IFC Commends CBN Over Banking Reforms

IFC Commends CBN Over Banking Reforms

Features, Finance, Innovation, Inside, News
The International Finance Corporation, IFC, has commended the Central Bank of Nigeria, CBN, for implementing sustainable banking principles in the country. Nigeria has introduced banking reforms to expand sustainable lending, becoming one of 34 emerging markets that are becoming a major force in driving development and fighting climate change, according to the first comprehensive Global Progress Report of the Sustainable Banking Network, an IFC-supported organization of banking regulators and associations. The report, was released in Washington, United States of America, yesterday, according o a statement by the World Bank Country Office in Abuja. According to the report, the 34 countries account for $42.6 trillion in bank assets—more than 85 percent of total bank assets in emergi
UBA Contactless Cards Hit Industry High of 3m

UBA Contactless Cards Hit Industry High of 3m

Features, Finance, Innovation, Technology
United Bank for Africa (UBA) Plc. says it has issued over three million near field communication (NFC) technology enabled contactless cards to its teeming customers. The contactless cards, introduced in 2015, are a revolution in the payments landscape in Nigeria in 2015, which enable customers to pay with ease by leveraging the NFC technology. The NFC technology allows wireless communication between devices that are a few centimetres apart.The NFC payment Card uses microchips/antenna to transmit data via shortwave radio frequencies. Usually, when one NFC-enabled device is close enough to another NFC device, a connection can be established and data shared between them. The card communicates data to the reader to initiate and complete the transaction using NFC technology. UBA with o...
How Nigeria, Others, Will Benefit From Microsoft’s $50m for Climate Change

How Nigeria, Others, Will Benefit From Microsoft’s $50m for Climate Change

Africa, Innovation, Inside, Technology
Following the commitment of search giant, Microsoft, to commit $50million to the fight against climate change, benefits accruable to Nigeria, and other parts of Africa will include the protection of lives and creation of new jobs. Giving more insight into what Nigeria and indeed Africa stand to benefit from the announcement, the Chief Technology Officer, Microsoft Nigeria, Hakeem Adeniji-Adele, in a chat with The Guardian, said the American technology company sees artificial intelligence (AI) powering the next major transformation in this region. This, he said, will cause a lot of changes and social good, adding that the announcement centred on how AI and cloud technology can be developed to solve some of the most pressing challenges of the present time, “especially as we face urgent
ADE Digital to Empower Youth With Innovative Skills

ADE Digital to Empower Youth With Innovative Skills

Africa, Innovation, Technology, Youth
A leading digital marketing agency in Nigeria, ADE Digital Media, has promised to empower youth with digital skills aimed at encouraging digital innovations across Africa. The Chief Executive Officer and co-founder of ADE Digital, Mr. Michael Ebia, disclosed this at an event organised to mark its third anniversary in Lagos.  According to him, the initiative aims at promoting an understanding of the possibilities digital solutions provide in improving the socio-economic possibilities of Africans, as well as provide a platform for Africa’s Cigizens (digital citizens) to experiment and create innovative solutions that are commercially viable. He said: “Free Digital seeks to accelerate the digital inclusion that is required to achieve the continent’s human development outcomes.” Ebia n
Dangote Emerges Only African on Bloomberg’s List of 50 Most Influential People

Dangote Emerges Only African on Bloomberg’s List of 50 Most Influential People

Business, Innovation, Inside, News
Bloomberg is a global information and technology company that connects decision makers to a dynamic network of data, people and ideas – accurately delivering business and financial information, news and insights to customers around the world. Bloomberg on Monday announced The Bloomberg 50, a new annual, multi-platform initiative that honours 50 icons and innovators who have changed the global business landscape in measurable ways over the past year. President of Dangote Group Aliko Dangote has emerged the only African to make the Bloomberg list of 50 most influential people in the world this year. The first Bloomberg 50 honorees were selected by the Bloomberg Businessweek team after months of input from many of Bloomberg’s 2,700 journalists and analysts around the globe, leveragin
CBN Deputy Governor, Top Bankers to Be Honoured With CIBN Fellowship

CBN Deputy Governor, Top Bankers to Be Honoured With CIBN Fellowship

Innovation, News
A Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Okwu Joseph Nnanna, and over 50 chief executive officers, executive directors and top management staff of banks as well as academics will formally be conferred with the fellowship and honorary senior membership of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos on October 28, 2017. Out of the 192 awardees to be honored at Harbour Point event centre, Victoria Island, 12 would be honorary fellows, 119 associates would become fellows while 61 would be honoured with the honorary senior membership of the institute, which is in recognition of the awardees’ services, commitment and contributions to the industry in particular and the nation’s economy in general. The honorary awardees include Mr. Milton Alvin Weeks, Exe
Entrepreneurship, Gender Equality to Drive Economic Diversification

Entrepreneurship, Gender Equality to Drive Economic Diversification

Business, Innovation
The Chairman, Heirs Holdings and Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu Elumelu and the Chairman of the United Bank for Africa Plc, has stressed the importance of supporting women-run businesses to achieve inclusive growth. According to him, such businesses empower a critical population of the economy. “Female businesses create more benefits for the society,” he said. Elumelu said this when he joined global private sector leaders at the Future Investment Initiative Conference in Riyadh, Saudi Arabia, to discuss ways to achieve economic diversification in dynamic economies recently. The conference was organised by the Public Investment Fund. Also on the panel were CEO, JPMorgan Asset Management, USA, Mary Erdoes; Chairman, POSCO, South Korea, Oh Joon Kwon; CEO, Sociét