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MasterCard, Business Leaders Set to Transform Nigeria’s Cities

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  • MasterCard, Business Leaders Set to Transform Nigeria’s Cities

With half of Nigeria’s population currently living in cities, MasterCard, in collaboration with some Nigerian business leaders, has stressed the need for government to put development framework in place to ensure future growth and sustainability.

This was a key message highlighted at the Mastercard CEO Conversations Dinner held recently, with focus on ‘Developing Nigeria’s Smart Cities through Technology Transformation’.

A renowned economist, Bismarck Rewane, led discussions with MasterCard President and CEO, Ajay Banga. Rewane reinforced the point that 60 per cent of the country’s Gross Domestic Product (GDP) is generated by those living in cities.

Leaders in businesses attended and joined the discussion with Banga and Rewane. Others were financial institution and telecoms CEOs and other business leaders, who gathered for an evening to discuss the country’s continued growth, and the increasingly important role of the private sector. The question of the evening was, how do smart cities deliver economic growth and resilience.

“Smart cities leverage technology with open standards and platforms to drive scale in order to deliver economic growth and efficiency. In Nigeria, technology is helping citizens connect to services that help them lead better and easier lives. Mobile is playing an important role, and more Nigerian’s have access to the internet via their smartphones, with current estimates stating that over 97 million users have access.

As cities such as Lagos develop, the technology and other innovations are expected to help serve the growing demands from consumers and businesses. By 2035 close to 30 million people are likely to live in Lagos, making it the largest megacity on the continent,” discussants said.

Discussion focused on the importance of partnerships as part of the cities strategy. It was highlighted that the need for cross functional support is required with further focus on gathering knowledge from global organisations to share best practices and knowledge. The importance of transparency and ease of doing business was also tabled, and with Nigeria recently securing a stronger rating, the country is on the right track to reinforcing its position as an economic powerhouse.

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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Siemens Energy Nigeria Appoints Seun Suleiman as Managing Director

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Seun Suleiman is the New Managing Director of Siemens Energy Nigeria

Mr. Seun Suleiman is the new managing director of Siemens Energy Nigeria, the company announced on Wednesday.

According to the statement released by the energy company, Suleiman will be responsible for the entire management of operations and decisions on business policies and corporate strategy.

Commenting on his appointment, Suleiman said, “It is an absolute honor to lead the business for Siemens Energy Nigeria and I look forward to delivering on the brand’s promise of excellence.

Suleiman joined Siemens Energy in 2014, bringing over 15 years’ experience and deep expertise in the private sector across Europe and West Africa.

The statement said, “He is an accomplished business strategist and success-driven leader with strong business acumen. Suleiman has also been a core member of the executive management team at Siemens Energy serving in roles as Sales Director West Africa – Service Distributed Generation Oil & Gas and Vice President Service & Digital.

“Prior to this, he also held various functional and managerial positions with ABB Ltd UK, ABBNG Nigeria, Schneider Electric Nigeria and Dresser-Rand Nigeria Ltd.

It added that Suleiman was experienced in establishing operational excellence with specific competence in the power, oil and gas sectors.

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FG Reopens Osubi Airport Warri for Daylight Operations

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FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

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Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

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Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

JR Firms, an agribusiness firm with headquarters in Nigeria, has announced partnership with Sanit Wing Rwanda through the acquisition of 11 per cent stake in the company.

The CEO of the company, Mr Rotimi Olawale, explained in a statement that the partnership was in furtherance of its goals to ensure food security, create decent jobs and raise the next generation of agrarian leaders in Africa.

The stake was acquired through Green Agribusiness Fund, an initiative of JR Farms designed to invest in youth-led agribusinesses across Africa.

Sanit Wing Rwanda is an agro-processing company that processes avocado oil and cosmetics that are natural, quality, affordable, reliable and viable.

The vision of the company is to become the leading producers of best quality avocado and avocado by-products in Africa by creating value across the avocado value chain.

With focus on bringing together over 20,000 professional Avocado farmers on board and planting of three million avocado trees by 2025 through contract farming, the company currently works with One Acre Fund in supply of avocado to its processing facility.

The products of the company which include avocado oil, skin care (SANTAVO), hair cream and soap are being sold locally and exported to regional market in Kenya.

With the new partnership with JR Farms- the products of the company will enjoy more access to markets focusing on Africa and the European Union by leveraging on partnerships and trade windows available.

Aside funding, the partnership comes with project support in areas of market exposure, capacity building, exposure and other thematic support to grow the business over the next four years.

JR Farms has agribusiness operations in Nigeria, Rwanda, United States and Zambia respectively.

In Nigeria, the company deals in cassava value chain processing cassava to national staple “garri” which is consumed by over 80 million Nigerians on daily basis, while in Rwanda, it works in the coffee value chain with over 4,000 coffee farmers spread across the East Central African country.

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