Category: Business & Economy

Footwear Academy, a footwear training firm has won the maiden edition of the Proudly Made in Aba Hackathon Challenge, designed to proffer solutions to challenges currently faced by Aba entrepreneurs, especially in the finished leather, garment and steel fabricating clusters.

Using modern equipment and technology, Footwear Academy won the challenge by providing a solution to upgrading the skills of Aba shoemakers, to enable them to improve the quality of their products.

The Co-founder, Footwear Academy, Bentley Chukwuemeka, stated that their plan was to introduce Aba shoemakers to modern technology, to enable them to speed up production.

Bentley Chukwuemeka said Footwear Academy also intended to reduce its period of apprenticeship from five years to six months.

The hackathon challenge had the Footwear Academy coming first position with $50,000; Clintonel Technology, which came second, received a cash prize of $30,000; and Ogwugo Technologies, coming third, got $20,000.

Clintonel Technology introduced a solution to digitalise and automate the metal fabrication process in Aba, through Computer Aided Design and Computer Aided Manufacturing, while Ogwugo technologies introduced an online marketing platform, designed to handle trade activities between buyers and sellers in broad categories.

The technology, according to the Co-Founder, Clintonel Technology, Tochukwu Chukwueke, will help shoe manufacturers and metal fabricators in Aba reduce production cost, increase production speed, multiply production volume, improve finishing and generate more revenue.

The Co-founder, Ogwogo.com, Chima Abafor, explained that the firm was offering a dynamic platform built from scratch to adapt to modern e-commerce technology, as well as e-commerce problems.

According to the Programme Manager, West African Office, Ford Foundation, Professor Paul Nwulu, the Proudly Made in Aba Hackathon Challenge was organised to find ways of using technology and innovative ideas to help influence the lives of shoemakers, fabricators and garment makers in Aba.

Professor Nwulu explained that they received 400 entries, out of which 10 best ideas were selected for the final, and from which the judges further picked the best three as winners.

The Nigerian Postal Service (NIPOST) has been awarded the World Summit on the Information Society (WSIS) 2018 Prize in the category of e-Employment for the NIPOST Address Verification System (NIPOST AVS).

Post Master General Bisi Adegbuyi received the Award at the WSIS Forum 2018 in Geneva, marking the 15th anniversary of the World Summit on the Information Society Forum.

Continue reading NIPOST Awarded 2018 WSIS Prize In E-Employment Category

Access Bank Plc has emerged winner of the best ‘Commercial Banking Capabilities’ award in Nigeria by Euromoney for the year 2018.

The award was presented to the bank’s Group Managing Director/CEO, Mr. Herbert Wigwe, at the Euromoney Private Banking Awards 2018, which held at the Landmark in Marylebone, London. Access Bank Plc in the 2017 edition of the award category finished in 4th position.

Continue reading Access Bank Plc Wins 2018 Euromoney ‘Commercial Banking Capabilities’ Award

The Flour Mills of Nigeria Plc, has emerged the best company in the maiden edition of Dividend Payment Awards organised by Third Observers Nigeria Limited in Lagos.

In the Silver Award category, the winning companies are Total Nigeria Plc, Julius Berger Nigeria Plc, Berger Paints Nigeria Plc and Guaranty Trust Bank Plc.

The four companies were awarded silver for their consistency in paying dividends to their shareholders in the last 20 years.

The Bronze Award was won by Access Bank Plc, Learn Africa Plc, AG Leventis Nigeria Plc and May & Baker Nigeria Plc, having paid their shareholders for a minimum of 10 years.

Mr. Sunday Nwosu, the Vice Chairman, Third Observer Nigeria Ltd., said the purpose of the award was to encourage more companies to pay their shareholders and improve investments in the stock market.

According to Prof. Oyewusi Ibidapo-Obe, a former Vice-Chancellor of the University of Lagos and the Chairman of the event:

“We need to have more investors to invest in the capital market, we can no longer depend on crude oil money again.

I believe with more companies listed in the stock market, we can turn around the fortune of our country and minimise our dependence on crude oil.

I do appreciate what is happening in the capital market presently and it is an opportunity for investors to invest in it.

I am using this opportunity to commend the Third Observers Nigeria for rewarding companies that are paying their shareholders dividends, this will encourage more companies to join the league.”

The News Agency of Nigeria (NAN) reports that Dividend Payment Awards for Nigeria’s Listed Companies is endorsed by the Nigerian Capital Market (NCM) and the Securities and Exchange Commission (SEC).

Winners have emerged in the 2017 International Finance Magazine (IFM) Awards, which recognizes and honours individuals and organisations in the international finance industry that make a significant difference and add value.

The International Finance Magazine (IFM) shines a spotlight on those who make a contribution to raising the bar in the financial industry through activities of note. These include path-breaking initiatives in corporate social responsibility or charitable activities, better corporate governance and other achievements that impact the global finance community.

Continue reading Winners Of 2017 International Finance Magazine (IFM) Awards

Ezinne Uko (Nigeria) and Peter Wachira (Kenya) have been selected as the two winners of the $200,000 Kwesé Inc #GoGettaz entrepreneurship competition held at Strathmore University in Nairobi, Kenya.

Both walk away with a $100,000 USD investment, a similar amount in credit facility from Equity Bank Kenya, and a two week mentorship at Kwesé’s headquarters in South Africa with Strive Masiyiwa, founder and Executive Chairman of Econet Global. The 10 runners up each receive $10,000 USD investment in their ventures.

Ezinne Uko and Peter Wachira have taken the grand prize from a group of 12 finalists from DRC, Ghana, Kenya, Nigeria, Rwanda, South Africa and Zimbabwe.

Judged on their business/non-profits’ sustainability, originality, social benefit, and scalability as well as votes garnered from the general public in a month-long social media voting phase, which closed on 30 November 2017, Contrail Stores and A Remote Youth Venture impressed the judges and receive a $100,000 injection into their business/venture from Mr. Masiyiwa.

As one of the largest entrepreneurship competitions on the African continent, 4,800 competition entries were received, 50 million social media shares and over 200,000 web page visits. The winners endured, and their businesses will not only benefit financially but, as first-ever Kwesé Fellows, they will also continue to receive best business/venture practices from Mr. Masiyiwa for the duration of their mentorship program.

In the words of Mr. Masiyiwa:

“At our eighth Africa Entrepreneurship Town Hall today, we had hundreds of people from different walks of life, all in the same room, all focused on solutions for the future: top business leaders, government officials, technology experts, academics, students… all thinking about how new technologies can help rather than harm society.

Today is how we build for Africa’s century and end poverty globally.  Together we listen, we innovate and we take action — with data and vision, and without delay.”

To inspire upcoming entrepreneurs and pave the way for new generation innovators, the Kwesé Inc #GoGettaz Entrepreneurship Competition finals will be broadcast on Kwesé Inc, an exclusive channel for entrepreneurs on the pay TV platform Kwesé TV, now available in over 10 countries with more to launch soon.