OUR ENERGY SOLUTIONS GUARANTEES HIGH ROI FOR ORGANIZATIONS – ADETOLA

OUR ENERGY SOLUTIONS GUARANTEES HIGH ROI FOR ORGANIZATIONS – ADETOLA

 

 

 

In this interview, with Engr. Adetola Adebanjo, the Founder and Chief Executive Officer of Morton78; a wholly Nigerian company passionate about Improving the lives of Nigerians by providing Energy access discussed renewable energy solution and how businesses in Nigerian can leverage on it for higher profitability. Anthony Nwosu captured this in an exclusive interview.

 

 

 

As an energy player, what areas of the industry are you playing in?

We are an innovative clean tech company that develops and delivers exceptional solar power engineering services to people and businesses.  Energy is more of a need than a want as everyone needs energy to run their daily lives. At Morton78, we are passionate about Improving the lives of Nigerians by providing Energy access to unserved and underserved people of the country has been playing an active role in providing power and creating jobs for people in Nigeria.

What is your take on renewable been expensive?

This is already changing as volatility of diesel pricing has made using generator a more expensive option for energy generation. We at Morton have a plan we call the “Save To Own” plan whereby you pay to own a system over a predetermined timeline.  This payment would be lower than what you are currently spending on power. Clean energy is much cheaper in the long run as it is a one-time cost if done properly and with quality equipment. Unlike a generator, you must factor in the cost of diesel which now is N800 per liter and likely to rise.  Do you know that every 10kVa of generating set uses 2 liters of diesel every hour? Depending on your generating set, do the math running it for 6hours a day and 20 days a month, you would see the advantage of going renewables cannot be overemphasized. Our save to own plan aims to reduce the operational cost of home and businesses where we spread the payment for people and businesses. What we have done is made clean energy more affordable thereby turning expenses into profits for organization as they spend less on energy. Contrary to beliefs that solar panels do not last, they have a longer shelf life than generators as they still produce up to 80% of their initial capacity after about 20years.  Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.

We have a lot of challenges on authenticity and originality. What have you done to address this?

Well, we have a solid service delivery. From experience, what we have seen is that some people that get solar for usage do not get it from competent firms and experienced professionals. They get it from people that will come and count their appliances and tell them their need. Some of these people do not understand the concept of energy audit, at Morton, we have a concise way of doing energy audit where we install smart sensors in your homes or business and this will give us a clear insight of the pattern of energy you consume, we then look at this pattern and give you solution that matches your load profile. So apart from these smart sensors and auditing we ensure that you have a clear view of what you need as you see in real time how you consume energy.  We must have a clear insight into your energy consumption before we embark on proffering solutions.

What are the advisory solutions that you have for clients?

We noticed that people have heavy equipment like water heaters, pumping and washing machines etc., these appliances are high energy guzzlers, what we do is migrate these appliances from other times of usage to daytime usage using smart switches. Solar energy is free during the day. Why not ensure these appliances work when we have sunlight. This simple yet effective solution reduces the sizing of battery and generator thereby giving them additional savings. For example, a smart switch can be used for your water heater to come on at 10am in the morning and go off by 3pm in the afternoon.

Tell us about your Energy Solution for Building Development?

At Morton, we offer different products for infrastructural development. Some of which are the Smart bench, this is a solar powered bench with advertisement pane, phone charging capabilities and wifi. Another product we offer is the Smart Solar Streetlight. We see street lighting as more than just lights. Our street lighting is a solution that provides lighting, WIFI distribution and camera monitoring all in one solution.

What kind of support services do you have?

We have a lot; we follow up on clients and advise them on usage and limitations. We trouble shoot if there is anything wrong from our dashboard. We can log into the system from our office and have a clear view of the problem from the back end and either solve remotely or have the solution on hand before visiting system location. We also have a system in place where we tell the client when to clean their panel depending on the location. We can monitor client’s consumption remotely and trace the faults. We have a robust support system for our clients. We work with data. Insight is key.

, Engr. Adetola Adebanjo who is the founder and the chief executive officer of Morton 78

What sets you apart from others in the market?

Innovation and a proven financial model. We have speed of attending to customers need. We believe that every Nigerian wants energy, and we ensure they see energy as a supporting their livelihood than a burden. Our energy audit enables our client to view their consumption in real time, this helps them to understand their energy need. It is this level of transparency we have deployed to gain trust from our clients. Our advisory services have made them to appreciate us especially the big organizations like banks. 

Can organization like banks and hotels use solar?

Our Alternative Power solution ranges from a 5kwp solution termed as APS5 to 100kwp coined as APS100. These APS are modular and can be scaled up to 1MW. Big organization can deploy solar from banks to churches even cold room facilities. There has been advancement in the battery technology, it has moved from lead acid battery to lithium-ion battery. We know that the major cost of renewable is the battery. There is what is called depth of discharge, you know that lead acid battery should discharge around 50% and if it does more, the battery will not last as much whereas lithium-ion battery can be depleted up to or more than 80%. It also has a faster recharge time with longevity of up to 10 years.

Apart from Lagos, have you deployed in other parts of the country?

We did deploy a 138-kwp projects in Maiduguri for the Northeast Children Trust to assist Internally displaced children. We have also deployed solutions in Abuja, delta and other parts of Nigeria.  Presently, we are partnered with Rural Electrification Agency to provide Solar Home Systems to underserved and unserved regions of Nigeria. Morton78 has deployed these systems in the South West states of Ogun, Oyo, Osun, Kwara and Ekiti states. There are a lot of communities in Nigeria that haven’t seen light before in their lives, it was our solar solution that is bringing this much needed change in their lives.

The cost of energy is getting higher in Nigeria. What can SMEs do to reduce their energy cost?

One way to increase your profit is to reduce your expenses. A critical expense for SMEs is their cost of energy.  To reduce your energy cost you must have an insight into your energy consumption. Once you gain this insight, you can integrate clean energy system from Morton to assist you in turning these expenses into profits.

Do you think that people are beginning to be opened to alternative energy sources?

Oh yes, they are, businesses are figuring out ways to increase revenue and to reduce expenses and one of the major expenses is power.  Power is a major cost of doing business in Nigeria. With our various solutions, we are bringing the cost down for Nigerians. We also have solutions for small households and MSMEs i.e shop owners, barbers, artisans etc where they pay as low as N20,000 to get a solar system with a fan, phone charging capabilities, 4 bulbs and an external inverter to power up to a 32inch TV. It is called the LM 60. Payment would be spread for fifty-two weeks at the rate of N2,950 per week. As they are mostly daily earners it is easier for them to make weekly payments.

 

 

Are you looking at rural areas?

Morton78 is one of the companies partnered with Rural Electrification Agency and world bank to close the energy gap in Nigeria by providing Solar Home Systems (SHS) to undeserved and Unserved areas in Nigeria.At present we have deployed over 1,000 SHS and provided over 50 jobs for people in Ogun, Oyo, Ekiti and Kwara State of Nigeria.

What are looking at next year from MORTON 78?

Next year, we are looking at rural electrification and focus on those that do not have power. We have many agents in rural areas and have provided power to over a thousand homes. We plan to provide power to 10,000 homes while creating 200 jobs. Morton would also be focusing on proffering turnkey solutions to SMEs and larger organizations using our designed energy solutions and proven financial models.

 

 

“Contrary to beliefs that solar panels do not last, they have a longer shelf life than generators as they still produce up to 80% of their initial capacity after about 20years.  Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.”

 

Morton78: Our Alternative Power solution ranges from a 5kwp to 1MW

Morton78: Our Alternative Power solution ranges from a 5kwp to 1MW

Morton78; a wholly Nigerian renewable energy company with core focus on Improving the lives of Nigerians by providing Energy access to unserved and underserved people of the country recently made their payment plans known for businesses in Nigeria. According to the organization, the payment plan is designed to address the initial cost problem many small and medium scale (SME) enterprises encounter before they go for solar and other forms or renewable energy.

Speaking to the media, Engr. Adetola Adebanjo who is the founder and the chief executive officer of Morton 78 said, “We at Morton have a plan we call the “Save To Own” plan whereby you pay to own a system over a predetermined timeline.  This payment would be lower than what you are currently spending on power. The renewable is not expensive in the long run, apart from the initial capital expenditure. you can see that with generator, you can factor cost of diesel which is N800 per liter and you will do like six hours and you do the math and you will get about 60 liter per day and you have the gen running like 6 hours daily and if you multiply by 20 days per month, you get about 5 million a year only on buying diesel not maintenance and personnel cost. We have what we call save to home, we try to use this to reduce the operational cost of organization and we spread the payment for organizations.”

, Engr. Adetola Adebanjo who is the founder and the chief executive officer of Morton 78

Adetola added that” The initial cost might be higher but the return on investment (ROI) will be there in less than two years. On the contrary solar panels have a longer shelf life than generators. Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.

As one of the companies signed by the Rural Electrification Agency to partner with them in closing the Energy gap by providing Solar Home Systems, Morton 78  came up with an initiative termed “The Reap Empower” where they  focused  on achieving 4 critical elements such as Providing technical and sales training to women and youths, Promote viability and cost effectiveness of solar energy in the community, Provide a source of empowerment and revenue generation to youths and small businesses and Breeding skill acquisition in communities.

To achieve these, they rolled out their initiatives in the Southwestern States of Lagos, Ogun, Oyo, and Ekiti States. “We understand that most Nigerians are daily earners who tend to be able to afford basic amenities daily. We had to infuse that concept into our thinking of how they currently use and afford power. Most of them tend to either buy petrol, diesel, kerosene or candles daily. Depending on these volatile sources for their electricity is having adverse effect on their spending habit and health in general. Creating ways of maintaining clean energy and daily affordable expense routine was a critical factor in determining affordability of providing them Alternative Sources of Energy”, Adetola opined.

Another critical factor is getting their buy-ins and trust in these Alternative Sources. Morton78 had to partner with people of Good moral standings and character in the community. These people became Advocates or people we call Gate keepers. In tandem with them, they were able to create a process to get people on our program for technical and sales training. In about 6months, Morton78 have been able to give sales and technical training to over 50 Nigerians and provide Alternative Power to over 1,000 Nigerians while impacting the lives of over 5,000 Nigerians. With a goal that in the next one year is to train over 500 Nigerians while providing power to over 10,000 Nigerians. Thus, impacting the lives of over 50,000 Nigerians.

On what sets them apart from the other players in the renewable ecosystem, Adetola made it known that “Innovation and we have a financial model. We have speed of attending to customers need. We believe that every Nigerian wants energy and we try to look at things from a point of view of real time. Our energy audit will enable the client to view things in real time, this helps them to understand their energy need. It is the level of transparency we have deployed to gain trust from our clients. Our advisory services have made them to appreciate us especially the big organizations like banks. Our Alternative Power solution ranges from a 5kwp solution termed as APS5 to 100kwp coined as APS100. These APS are modular and can be scaled up to 1MW. Big organization can deploy solar from banks to churches even cold room facilities. ”

ANTHONY EMEKA NWOSU

 

 

The initial cost might be higher but the return on investment (ROI) will be there in less than two years. On the contrary solar panels have a longer shelf life than generators. Its’ return on investment is also better in comparison to buying and using generators for energy needs. In other to serve our customers we ensure to understand their consumption pattern to adequately design the system that works best for them. A common mistake is sizing inverter right but under sizing the solar panel and battery requirement.

 

 

SPECIAL MAN GLOBAL SOLUTION LTD MAKES SOFTWARE DEVELOPMENT EFFICIENT, AFFORDABLE AND BETTER FOR NIGERIAN ORGANIZATIONS

SPECIAL MAN GLOBAL SOLUTION LTD MAKES SOFTWARE DEVELOPMENT EFFICIENT, AFFORDABLE AND BETTER FOR NIGERIAN ORGANIZATIONS

 

 

Software and mobile apps have come to be a part of our lives today. In a highly digital world, organisations are deploying software to either aid them to be more productive or make their customers find lives easier, Nigerian firms aren’t left out of this. In line with the trends, many indigenous firms have come out to offer software development solutions to many Nigerians that need it. Ranging from business to social software, one of the Nigerian firms with tremendous strides in the software development ecosystem is Special Man Global Solution Ltd. An indigenous firm located in Ikeja Lagos.

Speaking to the media on the importance of software development processes and client management, Ifeanyi Ezeofor who is the chief technology officer (CTO) of Special Man Global Solution Ltd said “Special Man Global Solution LTD software development process is born out of a desire to see products delivered to the highest possible standard while taking into consideration the affordability of our service.”

He added that “We have built a process for every project we get to work on…“ and this was further reiterated by Onyeka Ubazue, Client services personnel and Operations manager, “We collaborate with our clients to ensure that their projects are successful. From building and fostering communication during development time, our clients are in the front-row seat on their project development.”

As a unit, they mentioned that the focus is to simplify information as much as possible for the client as this process starts even before they become clients. Precious Anigbo, growth and Marketing personnel, stated that “our social media contents and pages are a reflection of information simplification, we like to bring technology to the human point of view by treating topics that we believe the general public should have a better grasp on as well as explaining technical terms and processes in an easy to understand way.”

On their engineering and product development, Ifeanyi made it known that excellence is non-negotiable in their process, “for us there’s no one way to building a product. As a practice, our team is constantly researching and optimizing our product development methods and options so that we can deliver excellent software every time. Excellence is the nature we inherited from God so we must shine that light in every project we undertake”

On their support services and client relations, Onyeka highlighted that from conception to execution and deployment, they have it as a policy to carry clients along during any project. In her words, “We are a very communicative organization, so we take the time out to first establish a communication pattern and channel so that we can be present when we need to be. Also, having a communication pattern allows us to collect feedback when needed so that the project time is not delayed.”

Over the years, the company has developed a strong capacity in Mobile App Development, Web Development, Game Development, Blockchain Project Development, and Fintech Solution Development. They can be reached online at specialmansolution.com and also on their social media pages.

 

“We have built a process for every project we get to work on…“ and this was further reiterated by Onyeka Ubazue, Client services personnel and Operations manager, “We collaborate with our clients to ensure that their projects are successful. From building and fostering communication during development time, our clients are in the front-row seat on their project development.”

NCC Offers Two More Slots on 3.5GHz Band for 5G Services

NCC Offers Two More Slots on 3.5GHz Band for 5G Services

 

The Nigerian Communications Commission (NCC) has put up another two slots of spectrum in the 3.5GHz Spectrum band for auction before end of 2022, to boost deployment of Fifth Generation (5G) services in Nigeria.

The process, which was made public on 21st October 2022 with the publication of the Draft Information Memorandum (IM) for the auction on the Commission’s website, invited stakeholders to study the Memorandum for purposes of making submissions ahead of a review of the IM on 16th November 2022.

The final IM is slated for publication on 18th December 2022, while applications will be received by the Commission from 21st November 2022. The closing date for the submission of application, the deadline for payment of mandatory Intention-To-Bid Deposit (IBD), and the Pre-Qualification Stage is set for 5th December 2022.

Qualified bidders would be notified on 5th December 2022 while notification and publication of the Mock Auction and Auction date will occur on the same day. The Mock Action is billed for 16th December 2022 just as the Auction proper takes place three days later, on 19th December 2022.

The process is anticipated to enter its grant stage on 21st December 2022 with the publication of provisional bid winners and the notification of provisional award of licence.

The year 2023 will open with the payment for Spectrum Licence and Operational Licence, where applicable, on 20th January 2023 and on the 23rd of January 2023, the auction process will be concluded with the publication of the result.

Meanwhile, according to the Information Memorandum, pursuant to the issuance of the IM, the Commission reserves the right to make available additional information through the publication of further documentation. Therefore, interested parties are advised to stay abreast with developments in the licensing process by checking regularly for updates on the Commission’s website.

FINTRAK ACADEMY GRADUATES AN ARMY OF SOFTWARE EXPERTS

FINTRAK ACADEMY GRADUATES AN ARMY OF SOFTWARE EXPERTS

 

Nigeria’s foremost financial technology (Fintech) firm, FINTRAK recently graduated trainees from their academy. This is in line with the organization’s policy of building capacity in the information technology (IT) ecosystem with emphasis on fintech solution. The organization designed this program as a way of giving back to the society and also deepening the widening capacity gap now that the country is having skill flight to other nations.

Having seen numerous talents and potential in these kids, FINTRAK Software has decided to build and train army of youths that will power the country’s IT ecosystem in future.

Speaking about the event, the founder of FINTRAK and Group Managing Director, Bimbo Abioye said “FinTrak Academy is designed to train highly qualified and motivated young graduates to become tech guru in the field of Software Development, Software Implementation, Software Support and Software Quality Assurance. Its main goal is to give successful candidates the opportunity to improve their analytical and technical skills in an international environment.”

“The Fintrak Academy Programme is open on an on-going basis. Young graduates are enrolled at a fully accredited degree programme (Bachelor, HND, M.eng, Master, ) during the entire duration of their internship can apply online. Selected interns are on-boarded for full employment upon graduation”, he added.

On a final note, the Fintrak boss opined that “The Fintrak Academy provides young graduates the skills and foundational experience they need to begin building a career in their chosen field. Our development programs offer a variety of professional experiences within a structure that provides opportunities to learn, grow, and ultimately succeed.”

Apart from these trainings, Fintrak absorbed many of these graduands into their organisation . These graduands will man their various locations across the world. FinTrak Software is an indigenous  global company based in Nigeria,over the years have deployed solutions in many parts of Africa . Armed with and army of software engineers and professionals with competencies across banking, finance, audit, consulting and software development, FinTrak Software can be described to be on a  mission to support organizations and states with technologies and intellectual strength required to enable them surpass their stakeholders’ expectations.

ANTHONY EMEKA NWOSU

Girls Belong Here: AstraZeneca Shows Commitment to Gender Equality and Female Representation in Africa

Girls Belong Here: AstraZeneca Shows Commitment to Gender Equality and Female Representation in Africa

In celebration of International Day of the Girl, AstraZeneca’s (www.AstraZeneca.com) Africa team has joined the global #GirlsBelongHere campaign, a Plan International initiative, to promote inclusion and draw attention to the obstacles faced by young women in Africa.

Processed with Lensa with Auto Adjustments

 

As a science-led company, AstraZeneca is passionate about inspiring and advancing the next generation of women and girls in STEM (Science, Technology, Engineering and Mathematics). To commemorate the day, AstraZeneca’s senior leaders stepped aside from their roles for the day to give 15 girls from Johannesburg, Nairobi, Addis Ababa, Accra and Lagos a unique opportunity to take charge. The participants attended meetings and workshops and shadowed the multinational company’s regional leaders including, amongst others, Barbara Nel, Country President African Cluster, Arpit Bansal, Country Director for Sub Saharan Africa and Taryn Purdon Business Unit Director of Oncology for African Cluster. The Africa Boardroom takeover event also connected girls from across the region to discuss how to overcome biases and obstacles to gender empowerment and inspire them to take the lead.

We are strongly committed to supporting and empowering women in leadership positions across our AstraZeneca African Cluster

Colleen Ratseane, a young female Entrepreneur who participated in the Orange Corners Programme in South Africa,  shared her career journey with the participants. The day also included visits with key AstraZeneca stakeholders, networking with AstraZeneca team members and participation in team brainstorming workshops.

Barbara Nel, Country President for African Cluster (South Africa, Sub-Sahara and French Speaking Africa) says: “We are strongly committed to supporting and empowering women in leadership positions across our AstraZeneca African Cluster. The Girls Belong Here initiative is part of this commitment, promoting girls’ visibility, driving new opportunities and investing in girls from across Africa to step into the shoes of various leaders in a mass takeover. Connecting across geographical borders the girls have an opportunity to share their perspective on why female representation is important in business and healthcare and what we as business leaders should know about the challenges young leaders face so that we can empower them to overcome these.”

Gender is a key determinant of health, and gender inequality leads to health risks for women and girls. The influence of society, culture or tradition can influence and impact health choices, health-seeking behaviours and health outcomes for women and girls. COVID-19 has exacerbated existing barriers; measures to curb the spread of COVID-19 have forced young women out of school, many of whom may never return to the classroom. Creating education and employment opportunities, like the #GirlsBelongHere takeovers, can lead to positive health outcomes for girls and young women.

Barbara Nel added, “It starts with inspiring young girls to have confidence in themselves, dream big and speak up and in showing them that Girls Belong Here. A big thank you to our partners for joining forces with us across African Cluster to ensure we bring about positive change. Together we can make a difference.”

Every Third Industrial Computer was Under Attack in South Africa, Kenya and Nigeria in H1 2022

Every Third Industrial Computer was Under Attack in South Africa, Kenya and Nigeria in H1 2022

According to the ICS threat landscape (https://bit.ly/3rGQgxM) report by Kaspersky (www.Kaspersky.co.za), in the first half of 2022 in the African regions computers in the industrial control systems (ICS) environment were attacked using multiple means – malicious objects, phishing pages, and spyware.

 

ICS computers are used in oil & gas, energy, automotive manufacturing, building automation infrastructures and other spheres to perform a range of OT functions – from the workstations of engineers and operators to supervisory control and data acquisition (SCADA) servers and Human Machine Interface (HMI). Cyberattacks on industrial computers are considered to be extremely dangerous as they may cause material losses and production downtime for the controlled production line and even the facility as a whole. Moreover, industrial enterprises put out of service can seriously undermine a region’s social welfare, ecology and macroeconomics.

In the first half of 2022 in the META region ICS computers in the oil and gas sector faced attacks most often (47% of them got attacked). Attacks on building automation systems were in the second place – 45% of ICS computers in this sector were targeted. The energy sector was also among the top-3 environments that got attacked (41% computers there were affected).

In total, over the last six months various types of malicious objects were blocked on every third ICS computer in South Africa (33%, 11% increase from the second half of 2021), and on 36% of computers in Kenya (20% increase from the second half of 2021). In Senegal there were 41% of ICS computers on which malicious objects were blocked, in Nigeria – 34%, in Gabon – 38%.

 

Table #1. Percentage of ICS computers on which malicious objects were blocked

Kenya

36%

Gabon

38%

Nigeria

34%

Senegal

41%

South Africa

33%

 

 

Malicious scripts and phishing pages were among the most popular means of attacking ICS computers in the African regions. In H1 2022 such scripts and pages were blocked on 19% of ICS computers in South Africa, a 12% increase from H2 2021. In Senegal, Nigeria and Gabon, 13% of ICS computers were affected, in Kenya – 17%.

 

Table #2. Percentage of ICS computers with blocked malicious scripts and phishing pages

Kenya

17%

Gabon

13%

Nigeria

13%

Senegal

13%

South Africa

19%

 

Approximately every tenth ICS computer in the African regions in H1 2022 had spyware on it blocked. Specifically, spyware was blocked on 9% of ICS computers in South Africa and Gabon, 12% in Kenya, 11% in Senegal, 8% in Nigeria.

Table #3. Percentage of ICS computers with blocked spyware

Kenya

12%

Gabon

9%

Nigeria

8%

Senegal

11%

South Africa

9%

 

“Sophisticated attacks have increased the demand for better visibility of the cyber-risks that impact industrial control systems. The integration of IT and OT systems has highlighted the need for a comprehensive yet purposely built cybersecurity program. Digital transformation programs require a new approach to ensure the secure deployment and operation of a variety of new, potentially unsafe devices within plant boundaries. Given this new reality, the Industrial Cybersecurity Maturity Modeling approach* might be used to define clear industrial cybersecurity targets and to measure how these targets are met,” says Emad Haffar, Head of Technical Experts at Kaspersky.

Read more about the ICS threat landscape in H1 2022 on the Kaspersky ICS CERT website (https://bit.ly/3yrRKje).

To keep your OT computers protected from various threats, Kaspersky experts recommend:

  • Conducting regular security assessments of OT systems to identify and eliminate possible cyber security issues.
  • Establishing continuous vulnerability assessment and triage as a basement for effective vulnerability management process. Dedicated solutions like Kaspersky Industrial CyberSecurity (https://bit.ly/3fJgnS3) may become an efficient assistant and a source of unique actionable information, not fully available in public.
  • Performing timely updates for the key components of the enterprise’s OT network; applying security fixes and patches or implementing compensating measures as soon as it is technically possible is crucial for preventing a major incident that might cost millions due to the interruption of the production process.
  • Using EDR solutions such as Kaspersky Endpoint Detection and Response (https://bit.ly/3RPzZl5)  for timely detection of sophisticated threats, investigation, and effective remediation of incidents.
  • Improving the response to new and advanced malicious techniques by building and strengthening your teams’ incident prevention, detection, and response skills. Dedicated OT security trainings for IT security teams and OT personnel is one of the key measures helping to achieve this.

Reference:

*Page 22 of the Kaspersky report The State of Industrial Cybersecurity in the Era of Digitization (https://bit.ly/3T6eBJh).

Secretary-General of the ITU, Mr. Houlin Zhao Commends Pantami As He Bags Dubai World Trade Centre Award

Secretary-General of the ITU, Mr. Houlin Zhao Commends Pantami As He Bags Dubai World Trade Centre Award

 

Recognising the role, the Nigerian Minister of Communications and Digital Economy, Professor Isa Ali Ibrahim (Pantami) is playing globally to foster a digital economy, which has been commended by world leaders such as His Excellency, President Muhammadu Buhari, the outgoing Secretary-General of the ITU, Mr. Houlin Zhao, Executive Chairman, ID4Africa, Mr. Joseph Atick, among others.
The Dubai World Trade Centre (DWTC), organizers of the Gulf Information Technology Exhibition Conference (GITEX), and the Gulf Information Security Expo and Conference (GISEC) added another feather to the cap of Minister Pantami today. The DWTC officially presented a LEADERSHIP AWARD to Prof Pantami in recognition of the role Pantami is playing in advancing Nigeria’s digital economy.
It is on record that under the supervisory leadership of Pantami, the ICT sector attained the position of the fastest growing sector of Nigeria’s economy according to the report provided by the National Bureau of Statistics (NBS). The sector pulled Nigeria out of the COVID-19-induced recession.

In the same vein, within the stewardship of Pantami, Nigeria witnessed an unprecedented rapid increase in broadband penetration, a rapid increase in digital identity, and a rapid decrease in the cost of mobile data.

It is no surprise that the ITU found it worthy of appointing the Nigerian Minister as the chairman of the World Summit on Information Society (WSIS) Forum 2022. Mr. Haolin Zhao went further to call on other African leaders to emulate Pantami in prioritizing commitment to their official duties.

Similarly, in the same feat, His Excellency, President Buhari singled out Minister Pantami’s innovative, doggedness, and resolute approach to duty. ” I commend the Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim (Pantami), for the landmark achievements of the digital economy sector and his commitment to carrying out his responsibility of developing the sector, including championing the growth of the indigenous telecom sector and NIN-SIM registration process. I also commend the industry stakeholders for their support for the sector.”
Under the leadership of Pantami, 19 National policies have been formulated and are currently being implemented. This is unprecedented in the history of Nigeria. The developmental regulation approach of Pantami has provided the enabling environment that supports rather than stifles development. Nigeria becoming the first country in Africa and one of the first in the world to introduce a digital currency to her citizens is a testament to that.

The digital economy sector in Nigeria under the supervision of Prof Pantami is playing an important role in improving security, fighting corruption, and developing the Nation’s economy. Unregistered or improperly registered SIM cards have been deactivated, IT projects are being cleared to ensure interoperability and transparency in governance in line with digital Nigeria policy and strategy.

FINTRAK BRINGS INNOVATIVE TECH SOLUTIONS TO THE RWANDA FINANCIAL ECOSYSTEM

FINTRAK BRINGS INNOVATIVE TECH SOLUTIONS TO THE RWANDA FINANCIAL ECOSYSTEM

 

 

 

Fintrak Software Limited, an indigenous financial technology firm based in Lagos with an international footprint in various African country recently held banking and financial industry of Rwanda in awe with the reintroduction of their solution known as ENTERPRISE PERFORMANCE MANAGEMENT SOLUTION. A software application that is designed for businesses to boost productivity and reduce human error in all the areas of their enterprise. The Fintech also presented their credit management solution known as CREDIT MANAGEMENT SOLUTION, the event was held at the KIGALI MARRIOT HOTEL, in the Rwandan capital City.

Speaking to the Rwanda financial ecosystem, the company described the Credit management solution as a software that was designed to help banks meet the need to identify, measure, monitor and control credit risk as well as to determine that they hold adequate capital against these risks and that they are adequately compensated for risks incurred. The Credit Risk 360 solution is Web based and can be easily accessed from all branches of the bank without separate installations on branch-by-branch basis.

“Banks are increasingly facing credit risk (or counter-party risk) in various financial instruments other than loans, including acceptances, inter-bank transactions, trade financing, foreign exchange transactions, financial futures, swaps, bonds, equities, options, and in the extension of commitments and guarantees, and the settlement of transactions”, they added.

Bimbo Abioye, the Group Managing Director of Fintrak used the opportunity to address Rwandan stakeholders on various features of their solutions such as Portal Driven Loan Origination, Online Loan Appraisal and documentation, Credit rating, mobile Loan approval and other areas of loan management such as SME Digital lending and disbursement.

On enterprise solution they focused on key features such as cost allocation, balanced scorecard, product profitability reports and flexible transfer pricing. All these features are embedded in the solution to make business seamless.

FinTrak Software is a global Financial Technology organization providing innovative technology and business solutions to financial institutions in the financial services sector and enterprises across continents. FinTrak Software is a global company, with business offices in Nigeria, Ghana and Gambia. Armed with and army of software engineers and professionals with competencies across banking, finance, audit, consulting and software development, FinTrak Software is on a mission to support organizations and states with technologies and intellectual strength required to enable them surpass their stakeholders’ expectations.

 

 

ANTHONY EMEKA NWOSU

 

FINTRAK EASES FINANCIAL REPORTING WITH AN ADVANCED SOFTWARE

FINTRAK EASES FINANCIAL REPORTING WITH AN ADVANCED SOFTWARE

 

 

Covid 19 pandemic last year made a lot of disruptions in the global financial space, Nigeria included. The technique companies report their operations, financial condition, and cash flows during this crisis and after will be a little bit altered or rejigged. Having this in mind, Fintrak Software Limited, an indigenous financial technology (fintech) company is bringing to the knowledge of financial players like banks, insurance, mortgage institutions and other key players in the ecosystem their product known as FINSTAT. An innovative solution designed to ease the burden of financial reporting for the key players in the industry.

The use of technology in the automation of financial reporting eases consolidation and preparation of full set of annual financial statements according to the international financial reporting standards (IFRS). FINSTAT reporting solution is designed to be bespoke and fluid, this means that it is built to the specification of clients that desire a robust financial reporting tool. The solution has been described to meet and exceeds standard IFRS system requirements, as it is in compliance with the recent IFRS 9 s standard

The FinTrak Enterprise Performance Management consolidates finance processes using technology to resolve challenges faced by businesses in relation to Data integrity, delayed reporting, Relationship management, Back Office operations and Support, Cost allocation, External domiciled accounts and Transfer pricing. This solution has made it possible for organizations such as banks, insurance and mortgage houses to successfully reduce risks, increase efficiency, decrease cost of operations and free resources for more value-adding activities by business units. The solution presents the report such as Management Performance Reporting Solution, which is an analytical tool created for organizations’ supervisory, examination, and management purposes in a summarizing format making it easier to understand.

Speaking on the importance of the solution, The Group Managing Director, Bimbo Abioye said “FinTrak Enterprise Performance Management solution is a valuable tool for the business to empower Management with the right information to make critical business decision and inherently deliver business value (Revenue and profitability, customer retention and acquisition, operational efficiency), resource productivity, and IT effectiveness. Profitability based measurement can serve as a more robust and inclusive means to measure the performance by gauging the extent of operational efficiency as well as capturing the nuances of an organization’s diversifying earnings through non-interest income activities and management of their costs. Profitability-oriented performance management is necessary, both to know what a business can do to affect profits and to benchmark the effect of any such moves.”

He added that; The solution monitors the performance of the whole Organization as well as Individuals, Teams, Branches, Business units, and further compares actual with budgets, to evaluate productivity and profitability based on key standard performance metrics. Our solution communicates with your core business application, spools and analyzes all the required data, so you can have a holistic presentation of your business performance in one Executive dashboard. You are empowered with the ability to render full MPR reports on daily basis as the month progresses. The system presents a Multi-dimensional view of performance across Teams, Branch, Products and Individual’s income and Balance sheet statements. and also, all reports respond to changes in reporting lines, both current and past performance.

Having deployed in many countries of Africa such as Gambia, Ghana, Congo etc, the Fintech giant incorporated English and French in the solution making is easily untestable to French and English-speaking countries.  Loaded with features such as flexibility, the solution can handle complex transfer pricing based on your organization’s policy. The solution can also be customized to suit your unique business needs and sector. For executive on the go, the software has mobile versions that can be easily deployed in mobile devices. Other features such as Single and Multiple rate pool pricing, Risk based multiple pool pricing, Penal charges based on policy violations, Ability to handle relationship management tree, Cost breakdown showing details and sources of costs at all levels. With these features, the software has the ability to reduce significantly or remove human errors associated with reporting and at a reduced cost for the organizations

“Our software has the ability to empower users to control cost elements without sacrificing revenue. The ability to see how cost elements like depreciation, OPEX, CAPEX, Human Resource impact and can improve revenue potentials. Key users are able to understand what drives cost and value within their business segment. FinTrak Software will set up bespoke reports peculiar to the business to track profitability and performance of their Business Units and Segments. The system can extract codes from transaction description to allocate the expenses, drill down details available on all reporting lines both income and balance sheet items on click and get basis”, Ladi Ipaye, Executive Director, Business Development and Marketing Strategy concluded.

 

ANTHONY EMEKA NWOSU

The solution monitors the performance of the whole Organization as well as Individuals, Teams, Branches, Business units, and further compares actual with budgets, to evaluate productivity and profitability based on key standard performance metrics. Our solution communicates with your core business application, spools and analyzes all the required data, so you can have a holistic presentation of your business performance in one Executive dashboard. You are empowered with the ability to render full MPR reports on daily basis as the month progresses. The system presents a Multi-dimensional view of performance across Teams, Branch, Products and Individual’s income and Balance sheet statements. and also, all reports respond to changes in reporting lines, both current and past performance.