Africa Women Innovation and Entrepreneurship Forum (AWIEF) Joins Forces with European and African Partners to Launch WITH Project to Boost Women Entrepreneurship Education in Tourism and Hospitality in Sub-Saharan Africa

Africa Women Innovation and Entrepreneurship Forum (AWIEF) Joins Forces with European and African Partners to Launch WITH Project to Boost Women Entrepreneurship Education in Tourism and Hospitality in Sub-Saharan Africa

Seven organisations from Africa and Europe have partnered to form a consortium and launched the project, WITH: Boosting Women Entrepreneurship Education in Tourism and Hospitality in Sub-Saharan Africa.

 

Co-funded by the European Union, WITH was officially launched last week in Seville, Spain.

 

The partner organisations are: Africa Women Innovation and Entrepreneurship Forum (AWIEF), South Africa; Seville Official Chamber of Commerce, Industry, Services and Navigation, Spain; International Consulting and Mobility Agency (INCOMA), Spain; Lagos Chamber of Commerce and Industry (LCCI), Nigeria; Centro Studi e Iniziative Europeo (CESIE), Italy; Equip Consulting Group, Malawi; and Gift Women Link Foundation, Uganda.

WITH is a two-year initiative that aims to skill and empower a new generation of climate and sustainability conscious women intrapreneurs, entrepreneurs and business owners to succeed in the tourism and hospitality industry in Sub-Saharan Africa.

WITH’s key objectives are to empower young women with the soft skills and personal and social competences needed to succeed as entrepreneurs, support trainers and educators in updating their knowledge and practices aligned with labour market needs and international practices, introduce and promote sustainable tourism and hospitality concepts, and boost experiential learning opportunities by working with public and private institutions active in vocational education and training (VET) and in the labour market.

Francisco Herrero León, President of the Official Chamber of Commerce, Industry, Services and Navigation of Seville, welcomed the WITH partners at their headquarters for a kick-off meeting last week, and said that the organisation was very proud of being involved in a project where entrepreneurship and women are linked.

 

“At the Seville Chamber of Commerce, we are working intensely to improve the entrepreneurial ecosystem every day, especially in recent years, we are boosting the role of women entrepreneurs, supporting them through programmes and initiatives. We hope to continue helping women entrepreneurs around the world thanks to the WITH project.

During these two years, the European and African entities involved will work together to reinforce the entrepreneurial mindset of young women in Sub-Saharan African countries

 

“The kick-off meeting has been just a starting point of inspiring organisations. During these two years, the European and African entities involved will work together to reinforce the entrepreneurial mindset of young women in Sub-Saharan African countries and bring sustainability consciousness to the new generations in the fields of tourism and hospitality.”

 

AWIEF Founder and CEO, Irene Ochem, added: “We are passionate about helping African women entrepreneurs build and scale the next generation of innovative and sustainable businesses that impact the lives of all of us in the coming years. We are taking this to the next level by engaging in effective multi-stakeholder partnerships as the WITH project, to mobilize and share knowledge, expertise and resources to support the achievement of the Sustainable Development Goals in Africa.”

 

Juan Guerrero, Head of Research and Innovation, INCOMA, said: “INCOMA will bring to WITH its more than 20 years of experience in highly relevant projects, such as ATHENA, SMART Volunteering for Female Migrants, CulTVET and EU4BCC, among others. We are very excited and inspired after this partnership kick-off meeting and launching of the project in our city, and looking forward to seeing the results start to show.”

 

Giulia Tarantino, Coordinator, International Cooperation at CESIE said, “CESIE is thrilled to work on the WITH project, as it focuses on three key aspects at the heart of our activities: women empowerment, entrepreneurship and tourism. Having developed several initiatives in this field, providing training and coaching opportunities to people interested in starting a business, we will try to capitalise on all these experiences to make a positive contribution to the WITH project.”

 

Rollins Chitika, Managing Director, Equip Consulting Group, said, “The WITH Project will inspire young women to seize opportunities, overcome challenges and actualize their entrepreneurial goals. This is the generation that promises to circumvent existing barriers to economic development in our country and Equip Consulting Group is thrilled to be working with partners from Africa and Europe in our contribution to making economic growth a reality.”

Follow WITH Project on LinkedIn, Twitter, Facebook, Instagram, and YouTube for more information. For enquiries, email withproject@awieforum.org.

African growth potential in a polycrisis world

African growth potential in a polycrisis world

The global economy faces a perfect storm of stubborn inflation, high interest rates in key economies, trade wars, supply chain difficulties and fallout from the Ukraine crisis which has heightened geopolitical risks. This is having a big impact on emerging and developing market economies, including African economies in the form of fuelling price rises, constrained trade volumes, reduced access to capital markets and food supply problems. African economies as a whole will slightly outperform the global economy this year, with most enjoying higher levels of growth than in 2022.

 

Published by African Export-Import Bank (Afreximbank) the Africa’s 2023 Growth Prospects: Securing growth resilience in a ‘polycrisis’ world report highlights the various factors that are currently plaguing the global economy: stubbornly high inflation, U.S. and Chinese trade and tech wars,  geopolitical tensions and supply chain problems. Following a strong economic recovery from the height of the Covid-19 pandemic, global growth of 3.4% in 2022 was far lower than the IMF forecast of 4.9%, in part reflecting the extremely difficult global economic environment and a dramatic shift towards price stability in the inflation and growth trade-off.

The Afreximbank report forecasts 4.1% GDP growth for Africa this year, above the global average, with growth shared around the continent

Efforts by key global central banks to rein in inflation must take priority but this is having a negative effect on Africa, with higher external debt servicing costs and a collapse in African sovereign debt issuance. Only three African nations, Angola, Nigeria and South Africa, successfully accessed capital markets in 2022, collectively raising US$6bn, down from the nine that raised almost US$20bn in 2021.

Inflation is proving difficult to tame, while the opening up of the Chinese economy from Covid lockdown measures could further fuel global inflation by releasing pent-up domestic demand. However, “heightened geopolitical tensions, besides preventing opportunities for international cooperation on global issues such as security, climate change and trade, have raised the risk of fragmentation”, the report says.

The Afreximbank report forecasts 4.1% GDP growth for Africa this year, above the global average, with growth shared around the continent, although power shortages and other infrastructural shortcomings will see South African growth slow. The continent has the potential to accelerate its economic prospects, including via increasing infrastructural investment; ongoing structural transformation; improving the macroeconomic environment; digitalisation; and the implementation of the African Continental Free Trade Agreement (AfCFTA).

Dr Hippolyte Fofack, Afreximbank chief economist and director of research and international cooperation, commented: “Inflation, which hit multi-decade highs and is raising the spectre of stagflation, is likely to emerge as the dominant macroeconomic story, eclipsing the short-lived globalisation of growth resilience post-pandemic…In the immediate term, restraining inflation in the most affected leading economies without provoking a hard landing or a full-blown financial crisis remains the most urgent challenge and risk to both global and African growth.”

Liquid Dataport and Viasat sign Memorandum of Understanding (MoU) to improve connectivity services for business and consumers in West Africa

Liquid Dataport and Viasat sign Memorandum of Understanding (MoU) to improve connectivity services for business and consumers in West Africa

Liquid Dataport, a business of Liquid Intelligent Technologies (Liquid) (https://www.Liquid.tech/), a pan-African technology group, and Viasat (NASDAQ: VSAT), a global communications company, today announced the signing of a Memorandum of Understanding (MOU) to engage in business-to-business (B2B) and business-to-consumer (B2C) service opportunities across West Africa.

 

Liquid and Viasat intend to focus on the potential commercialisation and distribution of satellite broadband to reduce internet connectivity costs and improve data connections across the region. Under the terms of the MOU, Liquid Dataport will offer Viasat’s connectivity services working through local partners.

As a part of Viasat’s expansion into Africa, the Company’s next-generation ViaSat-3 satellite constellation is expected to deliver connectivity services to Europe, The Middle East, and Africa (EMEA).

The reduced costs for connectivity is good news for our enterprise customers businesses

“Liquid Dataport is delighted to announce our collaboration with Viasat, and we believe there will be immense opportunities for the increased adoption of satellite connectivity in the African market as Viasat continues to expand its presence across the continent,” says Scott Mumford, Liquid Dataport Chief Commercial Officer.

“The MOU we have signed with Viasat will increase the data connectivity options that businesses and consumers in West Africa can have at their disposal. The reduced costs for connectivity is good news for our enterprise customers businesses”, added Hardy Pemhiwa the Liquid President and Group CEO.

“Viasat’s ability to deliver affordable and high-quality connectivity where it is needed most, even in the hardest-to-reach regions, continues to expand as we launch our next-generation ViaSat-3 global satellite constellation. We’re thrilled to work with Liquid Dataport to help reduce Africa’s digital gap and create new opportunities through digital inclusion,” said Peter Langkilde, General Manager of EMEA at Viasat.

Viasat and Liquid Intelligent Technologies independently announced recent agreements with the Microsoft Airband Initiative to deliver internet access to millions of underserved people in Africa by the end of 2025, targeting regions that include the DRC, Nigeria, Senegal, Angola, Tanzania, and Zambia.

The MOU between Liquid and Viasat is also in line with the Liquid’s mission to help close Africa’s digital gap. “We are always looking to bring internationally acclaimed digital and connectivity services and solutions to our customers across Africa,” concluded Mumford.

Africa Investment Forum showcases $1.475 billion in green and renewable energy deals at African Development Bank 2023 Annual Meetings

Africa Investment Forum showcases $1.475 billion in green and renewable energy deals at African Development Bank 2023 Annual Meetings

The Africa Investment Forum presented four renewable energy and sustainability projects worth nearly $1.5 billion to investors on the sidelines of the African Development Bank Group’s (www.AfDB.org) 2023 Annual Meetings.

 

The curated projects, which are drawn from all of Africa’s regions, are sourced from the Africa Investment Forum’s pipeline. They reflect gathering urgency in Africa, the world’s most vulnerable region to climate change, to accelerate climate action, including closing financing gaps by securing an ever-increasing share of global capital for the continent.

The African Development Bank’s 2023 Annual Meetings are being held under the theme, Mobilizing Private Sector Financing for Climate and Green Growth in Africa.

The investment roundtable, held in Sharm El Sheikh, attracted a range of private investors, including venture capital and private equity firms.

From hydropower to plastic recycling green projects showcase ample opportunities on the continent

The transactions included a hybrid hydrogen feedstock/ ammonia project in North Africa that will source 400 MW of renewable energy to produce—without Co2 emissions— 183 tons of hydrogen feedstock daily to generate 1,000 tons a day of green ammonia via electrolysis. Additional investment of $27 million is needed to move the project towards bankability.

The second transaction, in West Africa, is a 27 MW hydropower project that has successfully undergone feasibility assessments. It has also attracted funding support from a number of international entities and multilateral development agencies.  Among projected benefits, the deal will service 700,000 households, generate 600 direct and indirect jobs over the life of the project, and reduce Co2 emissions by 81,000 tons each year. The project represents an increase of 10% in the country’s total electricity generation capacity.

The investment roundtable, held in Sharm El Sheikh, attracted a range of private investors, including venture capital and private equity firms

The investment roundtable also featured an opportunity to invest in a $73 million plastic recycling and sustainability company’s expansion drive into seven African countries across West, Central and Southern Africa. The project has attracted the interest of several funders of project preparation and technical assistance to conduct feasibility studies in the target countries. It promises important benefits: creation of 16,000 jobs as well as opportunities for 20,000 waste pickers in targeted countries. It will also divert 214,000 metric tons of plastic waste (PET,PP,PE) from landfill dumps and reduce carbon emissions by 149,000 metric tons. Currently only 10% of Africa’s plastics are recycled.  The project resonated positively with growth capital investors that attended the roundtable.

The transaction incorporates important technological features, including cutting-edge processing lines and app-based collection and payment options. These features were viewed as enhancing the project’s scalability across Africa  and the project resonated positively with growth capital investors that attended the roundtable..

The fourth transaction is an opportunity to invest in a $440 million Southern Africa hydropower independent power producer that will generate 544,000 MWh/year of energy. It will also include water distribution and flood prevention elements. Other benefits include 3,000 construction jobs through project completion. The transaction sponsors are seeking $12.5 million to finalize the project’s development phase.

Africa Investment Forum Senior Director, Chinelo Anohu, hosted the event. She said, “there is a need for the Africa Investment Forum on the continent. We can’t overemphasize both the convening power and the strength of the platform.” She said the transactions showcased represented only a small part of the platform portfolio.

In addition to the African Development Bank, representatives of the Africa Investment Forum founding partners Africa Finance Corporation, Africa50, Islamic Development Bank, Development Bank of Southern Africa, Trade and Development Bank and Afreximbank attended.

Investors present asked follow-up questions to learn more about the projects presented.

The event also included an update on the Africa Investment Forum’s current pipeline, comprising 90 deals valued at $62.9 billion and classified as either in the capital raise phase or the bankability phase.

The Africa Investment Forum’s flagship Market Days event, to be held in November 2023, will bring together international deal sponsors, investors and government leaders to showcase transactions that are ready to progress toward closure.

Championed by the African Development Bank and seven other founding partners (Africa50, Africa Finance Corporation, Afreximbank, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and Trade and Development Bank), the Africa Investment Forum is Africa’s investment marketplace to accelerate transactions to close Africa’s investment gaps.

HISTORY AS PRESIDENT BUHARI COMMISSIONS SEVEN LEGACY PROJECTS ON TUESDAY

HISTORY AS PRESIDENT BUHARI COMMISSIONS SEVEN LEGACY PROJECTS ON TUESDAY

 

Following through on his administration’s determination to upgrade and expand the nation’s stock of infrastructure, President Muhammadu Buhari will (tomorrow) Tuesday, commission seven legacy projects completed by the Federal Ministry of Works and Housing across the country.

Comprising three major Bridges, three Federal Secretariats and a Road, the historic event will be headlined by the Second Niger Bridge which was conceptualized in 2005. In 2014, there was an attempt to begin the project through Public Private Partnership (PPP) but this was not successful. The construction began in 2016 with the Presidential Infrastructure Development Fund (PIDF).

Others are the Loko-Oweto Bridge across River Benue to link Benue to Nasarawa State and the Ikom Bridge in Cross River State while the Road project is the completed Section of the over 200 kilometres of Kano-Kaduna Dual Carriage Expressway and three new Federal Secretariats.

The first of the Federal Secretariats at Awka is located at Executive Business District Layout, Awka South Local Government Area, Anambra State and is situated on a 5.106 Hectares of land. The project was first awarded on 9th December, 2011 but was practically completed and taken over by the Ministry of Works and Housing on 14th July, 2022.

The Secretariat has a total of 498 Office Space, a Conference Hall, four Committee Rooms, an Exhibition Hall, a Banking Hall, a Post Office and befitting Reception. In addition, the Secretariat has lift facilities, well laid out parking spaces and drainages, staff canteen, fire hydrant and other vital facilities.

The second, Federal Secretariat Gusau, Zamfara State is located at Unguwan Dan Lawan, off Sokoto By-Pass Road, Gusau, Zamfara State. The project is situated on a 7.5 Hectares of land and was awarded also on 9th but was practically completed and taken over by the Ministry on 30th November, 2022.

The third to be commissioned is the Federal Secretariat Yenagoa, which is located at Alamieyeseigha Road, in Bayelsa State. It is situated on a 7.5 Hectares of land and was awarded on 9th December, 2011 but was practically completed and taken over by the Ministry on 30th November, 2022.

It would be recalled that President Buhari commissioned a fourth one, the Federal Secretariat Lafia, located at Bukar Sidi along Jos Road, Lafia, Nasarawa State in February this year.

All nation’s media stations are implored to stay tuned for the historic commissioning.
Femi Adesina

NITDA Receives the prestigious Golden Bridge Award at CISCO

NITDA Receives the prestigious Golden Bridge Award at CISCO

 

NITDA has been conferred with the prestigious Golden Bridge Award at CISCO Europe Middle East and Africa (EMEA) Partner Conference 2023 held in Paris.

The award is in recognition of the extraordinary contributions of the Director General, Kashifu Inuwa CCIE in driving NITDA’s partnership in championing digital skills implementation, digital literacy and skills development programmes with the aim of reaching a 95% digital literacy level in Nigeria by 2030.

Ukheshe Labs to focus on digital payment innovation

Ukheshe Labs to focus on digital payment innovation

 

 

Banking as a Service (BaaS) and embedded finance enabler Ukheshe has recently launched a new innovation hub, Ukheshe Labs, to focus on research and development in the digital payments market.

 

Jason Penton, Ukheshe Co-Founder and Head of Ukheshe Labs, says such an endeavour should be a priority for any company operating in the tech sphere. “As a company grows, there is often a very structured process for business as usual. When that happens, it’s easy to become stuck in mundane processes, leaving product development by the wayside. The idea behind Ukheshe Labs is to prevent this by bringing together highly skilled individuals, people who can think outside the box, to focus on innovation as the company grows.”

 

Besides product development, there are several other benefits to creating such an innovation hub within a company. Ukheshe Labs aims to tackle much more than product development, with the aim of becoming an expertise hub for any department within the company. “If any of the other business units face a challenge, whether a cost, technology or compliance challenge, they can refer that to Labs to solve,” says Penton.

 

One such challenge that Labs will tackle is technology consolidation across the group. Says Penton: “Any company starts facing the problem of technology silos as it grows including duplication of technology, processes and operations across departments. Labs will correct and minimise these and related challenges by encouraging open communication and innovation across all Ukheshe business units, and then leveraging technologies, infrastructure, and processes.

 

“Further to that, Ukheshe is very focused on its growth strategy and trajectory at the moment, which could involve mergers and acquisitions in the future. Should this be the case, Labs would then aim its focus on streamlining technology duplication over the short, medium and long term.”

 

Labs is already working on several other projects, one such project is looking at ways to give legacy tech more longevity.  This involves moving away from data centres and into the cloud, providing more efficient cost of operation, and solving any security and compliance challenges. “Another challenge Labs would tackle is complying with certain regulations when technologies eventually reach their end-of-life cycle,” says Penton. “At Ukheshe, we value security and compliance. One of our business strategies is to be cloud native and not operate on physical hardware, but this isn’t always possible given certain compliance requirements. To tackle a challenge like this, Ukheshe Labs would define the problem, brainstorm the issue, and evaluate the feasibility of each option by looking at the required technologies, costs, risks, and more. After creating a shortlist of potential solutions, each would be tested and monitored before implementing the best solution.”

 

Penton believes Ukheshe Labs will help the company keep its vision top of mind and not lose sight of its core values as it grows. “We’ve always had a fantastic culture of innovation and it’s important to us to always keep that going. We truly believe that innovation is the way to not only help us stay ahead of the curve but to ensure that our main value of broadening financial inclusion is realised.”

MENXTT TECHNOLOGIES EXPANDS ITS SERVICE OFFERINGS TO INCLUDE IT SUPPORT AND REPAIR SERVICES FOR CORPORATE AND INDIVIDUALS IN NIGERIA

MENXTT TECHNOLOGIES EXPANDS ITS SERVICE OFFERINGS TO INCLUDE IT SUPPORT AND REPAIR SERVICES FOR CORPORATE AND INDIVIDUALS IN NIGERIA

 

 

MENXTT Technologies, a Lagos based  technology solutions provider, is pleased to announce the expansion of its service offerings to include comprehensive IT support and repair services for corporate clients and individuals across Nigeria. With a focus on delivering high-quality services, MENXTT Technologies aims to meet the growing demands of businesses and individuals in the ever-evolving technological landscape.

 

As technology continues to play an integral role in today’s fast-paced world, MENXTT Technologies recognizes the need for reliable and efficient IT support and repair services. The company’s expanded offerings encompass a wide range of services, including computer repairs, phone repairs, printer repairs, and IT support for both hardware and software issues.

 

MENXTT Technologies takes pride in its team of highly skilled and certified technicians who possess extensive expertise in diagnosing and resolving various technical issues. Whether it’s a malfunctioning computer, a damaged phone, or a faulty printer, the company’s technicians are equipped to handle diverse repair requirements promptly and efficiently.

 

“Our expansion into IT support and repair services is a natural progression for MENXTT Technologies as we strive to provide comprehensive solutions to our clients,” said Anthony Nwosu , Marketing Consultant of MENXTT Technologies. “We understand the crucial role that technology plays in both corporate environments and individuals’ lives. By offering reliable and affordable repair services, coupled with top-notch IT support, we aim to alleviate the technological challenges our clients may face, allowing them to focus on their core business operations.”

MENXTT Technologies’ IT support services encompass network troubleshooting, software installation and configuration, system upgrades, data backup and recovery, virus removal, and general IT consulting. The company’s technicians possess a deep understanding of various hardware and software platforms, enabling them to address issues across multiple devices and operating systems.

 

In addition to serving corporate clients, MENXTT Technologies also caters to individual customers who require prompt and reliable repair services for their personal devices. The company’s commitment to customer satisfaction extends to individuals, ensuring that their technology-related challenges are resolved efficiently, enabling them to stay connected and productive.

 

As MENXTT Technologies expands its service offerings, the company remains dedicated to delivering exceptional customer service, quick turnaround times, and cost-effective solutions. With their experienced team of technicians and commitment to staying at the forefront of technological advancements, MENXTT Technologies is well-positioned to serve as a trusted partner for IT support and repair services across Nigeria.

For more information about MENXTT Technologies and its expanded service offerings.

About MENXTT Technologies:

MENXTT Technologies is a technology solutions provider based in Nigeria. With a comprehensive range of services, including IT support, computer repairs, phone repairs, and printer repairs, web develpment, digital and virtual presence management and software deployment. MENXTT Technologies aims to deliver reliable and efficient solutions to corporate clients and individuals. The company’s team of highly skilled technicians and staff possesses the expertise to diagnose and resolve diverse technical issues promptly, ensuring customer satisfaction.

Press Contact:
Anthony Nwosu
PR Consultant
MENXTT Technologies NG
Email: menxtt.ng@gmail.com

 

FG/Property Developer PPP Arrangement To Create Jobs, address housing deficit – Minister

FG/Property Developer PPP Arrangement To Create Jobs, address housing deficit – Minister

 

The Federal Government has handed over six hectares of land on the premises of the Federal Radio Corporation of Nigeria Broadcast Academy in Lagos to a property developer for the construction of a mixed-use luxurious hotel, high-end residential accommodation and social amenities under a Public Private Partnership (PPP).

Speaking on the occasion in Lagos on Friday, the Minister of Information and Culture, Alhaji Lai Mohammed, said the procurement process, which started in 2010, followed all laid down procedures and was subsequently approved by the Federal Executive Council.

“After a procurement process that started in 2010, a deal has been sealed and we are here to officially hand over a prime property of the Federal Radio Corporation of Nigeria (FRCN), a parastatal under the Ministry of Information and Culture, to the Fish Valley Investments and Properties Ltd,” he said.

The Minister said the procurement process of this partnership began with adverts in national dailies for interested investors to partner with the FRCN for the development of a mixed-use of the six hectares of land.

He said a Ministerial approval as required by law was granted and that subsequent processes by relevant agencies like the Infrastructure Concession Regulatory Commission (ICRC), which is charged with the responsibility of supervising all PPP projects, were carried out while the necessary certificate of compliance, as required by law, was issued by the Commission.

Alhaji Mohammed said apart from creating jobs, the project will also provide a boost to the national economy as additional revenue will accrue to the Federal Radio Corporation of Nigeria; taxes will be paid to the Lagos state Government and funds from the private sector as well as Foreign Direct Investment (FDI) by the project’s foreign partners will be injected into the nation’s economy.

In addition, he said the project will help transform and beautify FRCN Broadcast Academy environment, hitherto blighted by an undeveloped prime land that has sometimes served as a hide out for criminal elements.

The Minister said the construction of the residential accommodation will also contribute to the administration’s effort to address the housing deficit in the country.
In his remarks, the Director General, Infrastructure Concession Regulatory Commission, Mr. Michael Ohiani, confirmed that the project complied with all processes and procedures.

He said that concession will last for 55 years with a construction period of 4 years, adding that the project will be one of the legacies of the Buhari Administration, which has so far closed 86 Public Private Partnership deals valued at over N3 trillion.

In his remarks, the Chairman of Fish Valley Investments and Properties Ltd. Mr. Muyiwa Osho, said the land would be transformed into mixed residential building, 4-Star Hotel, a convention centre and the upgrading of the FRCN Broadcast Academy.

The handing over ceremony was also witnessed by the Director General of FRCN, Dr. Mansur Liman; the Director General of the National Broadcasting Commission, Mallam Balarabe Illelah, Chairman of the Christian Association of Nigeria, Lagos State, Rev. Stephen Adegbite and the management staff of the FRCN, among others.
Joe Mutah

FEDERAL GOVERNMENT LAUNCHES NATIONAL POLICY ON BLOCKCHAIN TECHNOLOGY FOR NIGERIA, INAUGURATES IMPLEMENTATION AND STEERING COMMITTEE, GRADUATES 32,022 NIGERIANS.

FEDERAL GOVERNMENT LAUNCHES NATIONAL POLICY ON BLOCKCHAIN TECHNOLOGY FOR NIGERIA, INAUGURATES IMPLEMENTATION AND STEERING COMMITTEE, GRADUATES 32,022 NIGERIANS.

 

Nigeria’s Minister of Communications & Digital Economy, Professor Isa Ali Ibrahim (Pantami) has inaugurated the National Committee on the implementation of the National Blockchain Policy for Nigeria. The ceremony which took place on Tuesday, 16th May 2023 followed the approval and directive of President Muhammadu Buhari GCFR, on Wednesday 3rd May 2023 at the Federal Executive Council Meeting.

The President while conveying his approval to the Honourable Minister also directed all relevant regulatory bodies including; the National Information Technology Development Agency (NITDA), the Central Bank of Nigeria (CBN), the National Universities Commission (NUC), the Securities and Exchange Commission (SEC) and the Nigerian Communications Commission (NCC) to develop regulatory instruments for the deployment of Blockchain Technology across various sectors of the economy. He further directed that all relevant government agencies should with immediate effect, commence the implementation of the Policy, along with stakeholders to ensure the creation of a Blockchain-powered economy that enhances innovation, growth and prosperity for all.

The Policy, initiated and developed under the supervision of the Professor Pantami, is in furtherance of the economic diversification agenda of President Buhari and primarily aimed at strengthening the nation’s Digital Economy to further enhance its unprecedented contributions to national development and economic growth as recorded in the last four years. The National Blockchain Policy, is developed to serve as a Roadmap for Nigeria’s adoption and utilization of the Emerging Technology.

The successful implementation of the policy, which lays out a comprehensive framework for integrating the technology into various facets of the economy, will ensure the growth of indigenous talent in Blockchain Technology solution development leading to a robust and globally competitive ecosystem, effectively address core issues including governance, security, interoperability, regulatory compliance, accountability and transparency. It will boost innovation, improve government services, create job opportunities, drive economic growth, enhance public trust in governance and promote citizen engagement among others.

The membership of the Committee is made up of twenty-nine institutions drawn from the public and private sectors, including the academia. In a related development, thirty thousand Nigerians graduated from the Blockchain Technology training organised by the Federal Government to equip citizens with the requisite skills required to drive the policy. In attendance at the hybrid event were the Honourable Minister of Industry, Trade and Investment Otunba Niyi Adebayo, Chief Executive officers of agencies and parastatals of the sector, permanent secretaries of public institutions, the organized Private Sector, captains of industry and innovators to mention but a few.

The National Policy on Blockchain Technology for Nigeria, brings to twenty-one, the number of policies initiated, developed and in various stages of implementation under the leadership of Professor Pantami.