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Tracking Technology to Save Global Aviation $3b

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Arik Airplane - Investors King
  • Tracking Technology to Save Global Aviation $3b

The deployment of Radio Frequency Identification (RFID) technology would enable the global air transport industry save more than $3 billion in the next seven years, it was learnt.

The deployment of the technology could accurately track passengers’ baggage in real time across key points during the course of the journey.

Global information technology provider, SITA and the International Air Transport Association (IATA) say accurate tracking rates of RFID technology could reduce the number of mishandled bags by up to 25 per cent by 2022.

The technology also supports IATA’s Resolution 753, which requires airlines by 2018 to keep track of passengers’ baggage.

The deployment of RFID would build on the already significant savings delivered by the smart use of technology for baggage management.

Investigations reveal that some big airlines and airports are already introducing RFID technology, an initiative experts say could provide positive return for airlines, both in cost savings and passenger satisfaction.

SITA’s and IATA’s assumptions are based on RFID being deployed in 722 airports.

The 722 airports investigations reveal represents about 95 per cent of passenger numbers globally over the next six years.

The figures for the year take into account the RFID infrastructure already deployed or about to be deployed at multiple induction points on the baggage journey.

SITA’s research into RFID and baggage tracking is part of its ongoing investment in research for the benefit of the entire air transport community.

Baggage tracking is one of the five community research programs that SITA has launched to address some of the industry’s most pressing challenges.

The others are identity management of the future, the facilitation of IATA’s New Distribution Capability (NDC, an industry-wide disruption warning system, and enhancing cybersecurity across the industry.

The SITA/IATA business case, investigations revealed outlines how this will provide a major saving for airlines and deliver more certainty for passengers.

Investigations also reveal that initial deployment of RFID by airlines, such as Delta Air Lines, show a 99 per cent success rate for tracking bags.

In particular, RFID will address mishandling during transfer from one flight to another, one of the key areas identified by SITA and IATA where the technology could help improve baggage handling rates.

It was learnt that RFID technology will ensure that airports, airlines and ground handlers are able to keep track of bags at every step of the journey and ensure the right bag is loaded onto the correct flight.

According to the SITA Baggage Report 2016, technology has helped reduce the number of mishandled bags by 50percent from a record 46.9 million mishandled bags in 2007, saving the industry $22.4 billion.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Twitter Chief Executive Officer Jack Dorsey Steps Down, Agrawal Takes Over

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Twitter CEO, Jack Dorsey has stepped down as the Chief Executive Officer (CEO) of the leading Microblogging website, the company announced in a statement published on Monday.

According to the statement, the Board of Directors of the company has appointed Parag Agrawal as the new Chief Executive Director of the company, effective immediately. However, the outgoing CEO will remain a member of the Board until the end of his term in 2022.

The Board of Directors appointed Bret Taylor to succeed Patrick Pichette as the new Chairman of the Board, while Pichette will continue to serve as chair of the Audit Committee.

The released statement noted that Agrawal, the new CEO has been with the company for more than a decade and served as Chief Technology Officer in the last four years.

“I’ve decided to leave Twitter because I believe the company is ready to move on from its founders. My trust in Parag as Twitter’s CEO is deep. His work over the past 10 years has been transformational. I’m deeply grateful for his skill, heart, and soul. It’s his time to lead,” said Dorsey.

Commenting on Twitter’s new management, Bret Taylor, Twitter’s incoming Independent Board Chair said, “On behalf of the Board, I want to thank Jack for his visionary leadership and unrelenting dedication to Twitter since its founding. Jack returned to Twitter and turned the Company around at the most critical time. The progress since then has been nothing short of incredible. Jack has given the world something invaluable and we will continue to carry it forward.”

Taylor noted, “Parag understands Twitter and appreciates the Company’s unique potential. He has been instrumental in tackling our most important priorities, including accelerating our development velocity, and I know he’ll hit the ground running to strengthen execution and deliver results. The Board has the utmost confidence in Parag.”

“I want to thank the Board for their confidence in my leadership and Jack for his continued mentorship, support, and partnership,” said Agrawal.

“I look forward to building on everything we have accomplished under Jack’s leadership and I am incredibly energized by the opportunities ahead. By continuing to improve our execution, we will deliver tremendous value for our customers and shareholders as we reshape the future of public conversation.”

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E-commerce

Jumia Grabs Opportunity for Black Friday Deals

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Black friday

Black Friday is a concept that originated in the United States, but the yearly retail fever has had a popularity boom across Africa in recent years, with customers moving to take advantage of the best deals that retailers have available.

Jumia, which is a marketplace with its focus placed on Africa quickly grabbed this opportunity when it first introduced the Black Friday event about nine years ago across its markets in Africa, focusing mainly on Egypt and Cairo which are the company’s top two cities when considering volume of orders.

Since its inception, the company has witnessed staggering levels of success with the event, and company data reveals that the love which consumers have for Black Friday has been increasing across the continent every year.

During the 2020 Black Friday event, the top sellers on the Jumia platform saw a 141% year-on-year increase in the amount of items sold, with one out of three clicks on average being a new customer. The company also said that it witnessed an increase in brand appetite across every one of Jumia’s 10 markets during last year’s sale, which lasted every Friday in November.

The trend is expected to continue this year’s version of Jumia’s Black Friday, as it is running from November 5 until November 30.

The company which is based in Nigeria has entered into partnerships with major brands like Adidas, HP, Unilever and Diageo, as well as with thousands of sellers in order to provide consumers the best deals on a very wide range of products.

The CEO of Jumia Nigeria, Massimiliano Spalazzi told Lagos-based Vanguard that the Black Friday programme has been a success every year, and is the biggest sale of the year.

He also stated that the 2021 Black Friday campaign will place focus on strengthening the company’s position as a brand within the African market, and providing support to the sellers.

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Fintech

NQR Payment Solution Excites Nigerians: Everyone Can Now Pay Sharp Sharp

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Since the NQR payment solution was introduced to the Nigerian market in March of this year, it has reached millions of Nigerians across major markets in different states.  Lagos, Ibadan, Abuja, Kano, Uyo, and Portharcourt are just a few of the states that have witnessed the fast seamless, and reliable NQR payment solution.

Business owners and customers across Nigeria have embraced NQR en masse as a result of the market penetration drive, citing the convenience, speed, and reliability of the payment option.

The NQR Payment Solution is a secure QR-code-based payments and collections platform that allows customers and business owners to accept and make payments for goods and services. The payment system will bring together all of the country’s closed QR code schemes for a more consistent user experience and faster digital adoption.

The campaign was led by several popular celebrities who thrilled the market crowds and showcased how the NQR works. Mercy Johnson, Mercy Aigbe, Odunlade Adekola, Real Warri Pikin, Saddiq Sani Saddiq, Bisola Aiyeola, and Nedu were a few of the ambassadors for NQR.  They encouraged business owners to sign up for NQR, and encouraged customers to make payments with NQR.

The NQR payment solution team recently toured Southern Nigeria, with comedians Edo Pikin and Real Warri Pikin leading the train to sensitize the people about how the NQR merchant app works and how customers can #PaySharpSharp with live demonstrations.

NQR agents also went through the markets educating both business owners and customers about NQR’s benefits. Representatives from several commercial banks were also on ground to address business owners’ concerns. Everyone learned about the NQR payment system and had the opportunity to test it out as well as express their satisfaction with it.

NQR is now available in a store near you.

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