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Vodacom Advocates IoT for Efficient Service Delivery

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  • Vodacom Advocates IoT for Efficient Service Delivery

Vodacom Business Nigeria has advocated the use of Internet of Things technology to achieve efficiency in different sectors of the economy.

The management of the company noted that Nigeria, one of the fastest developing countries in the world and the most populous nation in the sub-Sahara Africa, required infrastructural development to match its growing population.

The Acting Executive Head of Operations, Olumide Idowu, noted that the only way to increase efficiency in the country was through digitisation.

He spoke at 2018 Information Communications Technology and Telecommunications Expo organised by the Lagos Chamber of Commerce and Industry in Lagos.

Speaking on behalf of Vodacom Business Nigeria, Idowu said that Nigeria was at a pivotal moment in its technological revolution and the current lack of infrastructure provided a ready springboard for the utilisation of Internet of Things technologies to create a smarter and a more efficient nation.

“Leaders around the world are committed to smart city building as they attempt to chart the course towards the development of their cities in order to meet social, economic, and environmental challenges.”

“By using the IoT technology, which is commercially available today, a host of intelligently connected services such as efficient health care in rural communities become a reality.”

He said in the previous year, Vodacom Business Nigeria, in collaboration with some state governments, made significant strides in the development of smart solutions for problems facing rural communities within their states.

In the area of health care, he said a solution was deployed to help increase the availability of essential medication by monitoring drug stock levels, improving the delivery of health care for citizens accessing public health services.

According to Idowu, in the education sector, Vodacom has also launched a mobile school management solution which provides real-time visibility of all management activities at schools.

He explained that the solution had been deployed in over 4,000 public schools in Nigeria.

He said, “In the area of agriculture, our connected farmer solution provides a platform for connecting various stakeholders within the agricultural ecosystem to create better accountability and efficiency within the industry. Other solutions such as payment solutions, backup solutions, energy, utility and security solutions are just a few examples of smart solutions available within the Nigerian context.”

“The significance of digitisation cannot be overstated in creating a smarter, more efficient and more sustainable economic environment in Nigeria. The sooner the shift to a digitalised system happens, the faster the nation can build a competitive advantage on the global stage and she can begin to reap the social, economic and environmental benefits that are sure to follow,” Idowu said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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