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Fidelity Bank Boosts Well-being of Host Communities With CSR Projects

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Foremost financial institution, Fidelity Bank Plc, has inaugurated Corporate Social Responsibility (CSR) projects in three South-Western states of Oyo, Ondo and Ekiti; as well as Kwara State.

The projects which include the provision of maternal and healthcare materials for hospitals, renovation and furnishing of a juvenile correctional facility as well as provision of computers for secondary and tertiary institutions were officially inaugurated on Thursday, 30 and Friday, 31 December 2021.

Speaking on the rationale behind the projects, Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said that the initiatives were executed in pursuit of the Bank’s CSR objectives which are centered on the environment, education, health/social welfare, and youth empowerment.

According to Onyeali-Ikpe, “These projects, which are in line with the United Nations Sustainable Development Goals (SDG) Nos. 3 – Good Health and Well-being and 4 – Quality Education; are in demonstration of our corporate belief that profits should not only be measured in naira but in terms of the wellbeing of our host communities. That is why we regularly look for opportunities to advance the fortunes of people in locations we do business”.

At the official handover of the renovated boys’ hostel and administrative block facilities of the Oyo State Juvenile Correctional Institution/Child Care Unit, Ijokodo, Ibadan, the Oyo State governor, Seyi Makinde, who was represented by the Permanent Secretary, Ministry of Women Affairs and Social Inclusion, Mrs. Christiana Abioye, thanked Fidelity Bank for the intervention explaining that, “Oyo state government, in its drive to deliver a number of people oriented and social services to the teeming population of the state, has been able to reach out to many individuals, organisations and corporate groups to partner with it in the achievement of these mandates through the running of an open and sincere administration.

“I am glad that the management of this financial institution was able to avail itself of one of such opportunities offered by this administration to discharge its Corporate Social Responsibility in the state and in particular in this very special welfare institution”, said Gov. Seyi Makinde.

Fidelity Bank is fast developing a reputation of a people-friendly institution with its numerous CSR programmes. It would be recalled that earlier in 2021, the bank completed the renovation of a primary health care center and a block of classrooms in the Southeast and Southwest regions of Nigeria respectively.

 

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Zoho Launches Tax Compliant Platform in Kenya, Seeks to Help Businesses Manage Their Finance

Zoho Corporation has launched a VAT and Tax invoice management system (TIMs) accounting software for companies in Kenya called ‘Zoho Books’.

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Zoho headquarters in chennai

Indian multinational technology company that makes web-based business tools Zoho Corporation, has launched a VAT and Tax Invoice Management System (TIMs) accounting software for companies in Kenya called ‘Zoho Books’.

With the creation of Zoho Books, the company seeks to help Businesses in Kenya ease the process of transitioning to tax invoice management system and compliance.

The accounting software, Zoho Books is meant to help businesses in Kenya ease the process of transitioning to Tax Invoice Management System (TIMS) and ensure compliance.

In Kenya, the new TIMS regulation in the country mandates that all VAT-registered businesses must report each invoice and credit note to the Kenya Revenue Authority (KRA) in real time.

Businesses will need to create electronic tax invoices with the mandated fields and format, and push them to the Kenya Revenue Authority, making the introduction of the Zoho Books software to the Kenyan market very timely.

Speaking on the launch of ‘Zoho Books’ in Kenya, Zoho Country Manager Veerakumar Natarajan said the system has been rolled out first in Kenya to assist all business owners to prepare for the upcoming implementation of the TIMS by the Kenya Revenue Authority (KRA).

His words, “Kenya is a key market for us, and we are continuing to invest in creating solutions that will help businesses in their digitalization journey.

“We are launching the localized version of our accounting solution, Zoho Books, to help businesses manage their finances and stay tax compliant.”

The Kenya Revenue Authority has extended the deadline for businesses to comply with the Tax Invoice Management System to November, 30 this year, noting that “a number of taxpayers are still in the process of acquiring and integrating the ETR devices with their invoicing systems.”

With Zoho Books, businesses can get an end-to-end accounting solution that works in just a few clicks. The accounting software will also generate the VAT Return Form-3 filled-in automatically, which can then be used to file the returns, simplifying tax compliance and saving time.

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Cybersecurity Firm Swimlane Expands Into Africa And Other Regions, Offers Security Operation Requirements

Swimlane has announced its expansion to the Middle East, Turkey and Africa (META)

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Swimlane, a security automation company that provides cloud-scale, low-code security automation for organizations, has announced its expansion to the Middle East, Turkey and Africa (META) followed by an appointment of Ashraf Sheet as vice president of the region.

The platform will provide maximum flexibility for META organizations with cloud, on-prem and air-gapped deployment options for secure-access environments.

The newly appointed Vice President of the region (META) Ashraf Sheet is an accomplished sales leader with more than 20 years experience in the cybersecurity market. He has held progressive roles leading sales and channel teams across local and multinational companies including InfoBlox and LinkShadow.

Throughout his career, Sheet has established himself as a trusted advisor to many of the world’s most-recognized brands across the Middle East, Turkey and Africa.

While speaking on what innovative solutions the firm and the Vice President of the region (META) Ashraf Sheet will bring, Senior Vice President of Worldwide Sales for Swimlane Jim Pickering said,

“Ashraf brings immense credibility and go-to-market experience throughout META, and I’m excited to have him lead Swimlane’s expansion in the region.

“Our unique low-code approach to security automation is a game-changer for security teams in META, offering a solution that meets the region’s most-demanding and constantly evolving security operations requirements.”

He further added that the region’s vice president will be responsible for expanding Swimlane’s sales and technical teams across the region, as well as onboarding strategic channel partners and distributors to expand the company’s presence and market share.

Earlier this year, the firm raised a $70 million growth funding round led by Activate Capital which Swimlane disclosed that it will be used to accelerate the company’s ongoing growth and operations on a global scale while continuing to advance its platform innovations in security automation ahead of the competition.

Swimlane has transcended traditional SOAR and risen to meet the growing need for low-code security automation to help organizations quantify business value, overcome process and data fatigue, and combat chronic staffing shortages.

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Merger and Acquisition

Shell to Acquire Nigerian Solar Energy Provider, Daystar Power

Subject to regulatory approval, Shell Petroleum Development Company is set to acquire Daystar Power.

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Shell

Subject to regulatory approval, Shell Petroleum Development Company is set to acquire Daystar Power.

Daystar Power, which is one of the leading providers of hybrid solar power solutions to commercial and industrial (C&I) hubs in West Africa, announced the potential acquisition in a press release. 

According to the energy provider, the acquisition will help Daystar Power to continue its growth in West Africa while expanding its presence to other African countries in East and Southern Africa. 

The Lagos-based company has a target to increase its installed solar capacity to 400MW by 2025. 

Daystar Power currently has an installed solar capacity of 32 Megawatts (MW).

This could make Daystar Power to become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses.

The Chief Executive Officer of Daystar, Jasper Graf von Hardenberg disclosed that Daystar Power needed more capital to expand operations to meet the rising demand for solar energy and the choice of Shell as the new parent company comes at the right time. 

Jasper further stated that Shell’s strong balance sheet and long history in Africa will help to take Daystar to a new height.

On the other hand, Shell’s Executive Vice-President, Renewable Generation, Thomas Brostrøm noted that the deal will be Shell’s first power acquisition in Africa. 

He noted further that the deal is a fundamental step for Shell in growing its presence in the emerging power market. 

“We have had a long and established presence in West Africa and with Daystar Power, we are taking our first steps into the renewable power space,” he said.

“Daystar Power has a loyal customer base and a promising growth outlook, and by combining our efforts and expertise, I believe we can make a real difference in the energy transition, for West Africa and beyond.” Shell’s Executive Vice-President concluded.

Investors King learnt that Daystar Power currently has a presence in Nigeria, Ghana, Senegal and Togo. The company also received $20 million in funding last year to boost its operations.

 

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