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Wednesday 29th March, 2023

Business

Visa Launches New ‘Where You Shop Matters’ Initiative To Support Small Businesses In Nigeria

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Visa, the world’s leader in digital payments, has launched its new “Where You Shop Matters’ initiative that aims to champion and enable entrepreneurs in Nigeria while encouraging consumers to support small businesses.

Alongside a new SMB resource hub, Visa has published the COVID-19 CEMEA Impact Tracker highlighting the recent effect the novel coronavirus pandemic has had on commerce for consumers and small merchants in Nigeria.

The findings of the report highlight increased anxiety with consumers staying away from all but essential retail. 68% of consumers polled reported going grocery shopping less often, while 67% reported taking public transportation less often.

The impact of the pandemic still hasn’t dampened the resolve of the Nigerian consumer however, as respondents believe that it will take about 6 months for the business environment to return to normalcy.

During the pandemic, many consumers in Nigeria have started shopping online for the first time for essentials. 71% of consumers surveyed say that COVID-19 has led to their first online grocery purchase, while 69% have made their first online purchase from pharmacies.

Overall, the report points to a shift towards online commerce, with cash transactions being replaced by digital payments.

Kemi Okusanya, Vice President, Visa West Africa……..Photo Credit: The Niche

Kemi Okusanya, Vice President, Visa West Africa said about the findings: “The pandemic is impacting business everywhere. The findings of the COVID-19 CEMEA Impact Tracker suggest shoppers have changed how they shop and this is already having a major impact on how merchants do business.

“As consumers adapt to the current restrictions, many have changed how they shop and turned to online outlets for their shopping. These changes, present challenges but also enormous opportunities for all merchants, including small businesses.”

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According to the report, 55% of consumers admit to now spending less while also highlighting a trend that suggests shoppers have transformed how they shop.

Asked about spending habits, consumers are increasingly optimizing their trips – 66% buying in bulk, making lists to avoid impulsive purchases, and buying non-perishable items to ensure fewer trips.

“It is vital that merchants in Nigeria understand consumer behaviours and adapt accordingly- eCommerce and digital solutions will undoubtedly enable growth.

“At Visa, we are proud to support merchants and recognize that many small businesses have been most adversely affected by the pandemic.

“From eCommerce to security, our “Where You Shop Matters” initiative aims to help support them and champion the local small businesses that serve as the backbone of our communities,” Okusanya added.

Launched on the 17th of June, “Where You Shop Matters” will help support small businesses through the Visa Small Business Hub, a merchant platform providing tools and information on how to start, run and grow small businesses.

The platform will also feature leading merchants who embody the passion and entrepreneurship of small businesses across Nigeria.

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Business

MTN’s Funso Aina Wins SABRE IN2 ‘Innovator Of The Year’ Award

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From L-R: Founder and Chair, PRovoke Media, Paul Holmes, presenting the 2023 SABRE Award for African Innovator of the Year (Brand) to Senior Manager, External Relations, MTN Nigeria, Funso Aina at the PRovoke EMEA Summit at Gesellschaftshaus Palmengarten, in Frankfurt, Germany on March 23, 2023.

Funso Aina, MTN Nigeria’s Senior Manager, External Relations, and one of Africa’s most decorated media and public relations professionals, has been announced ‘Innovator of the Year’ in the brands’ category at the highly respected SABRE IN2 awards.  

Awarded since 2013, the SABRE IN2 awards recognise excellent work that highlights the expanding scope of the PR profession, from content creation to the evaluation process using data and analytics to inform, enhance and evaluate campaign successes across the globe.

Aina’s recognition was announced by Provoke Media on February 15, 2023.

The award was presented at the PRovoke EMEA Summit in Gesellschaftshaus Palmengarten Frankfurt, Germany on Thursday, March 23, 2023.

CEO & Editor-in-chief, PRovoke Media, Arun Sudhaman said, “The media and communications industry is in the age of convergence, with every discipline demonstrating decent impressions to be most valuable to organisations and agencies.

The innovation SABRE awards recognise groundbreaking campaigns- having factual data analysis and implemented with the use of technology for evaluation by industry leaders. The award category spotlights professionals in agencies and brands that empower and enable reputation excellence within their organisations.”

This innovation award is a testament to Funso’s trailblazing efforts in media relations, through MTN Nigeria’s Media Innovation Programme (MIP): a six-month certificate programme for Nigerian media practitioners to increase the knowledge and skill base of the participants, help them understand the changing media landscape and how to effectively use technology to create impactful media content in the country and Africa at large.

During the study, 20 media practitioners from various media sectors engaged in capacity-building sessions to stir up their innovations and improve ways of practice to create sustainability in the industry.

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This was apparent in their study trip to the University of Witwatersrand, South Africa, where the participants engaged in interactive sessions on creativity and innovation, explored opportunities in the media business and brainstormed on solutions to some of the challenges to successfully running media businesses in Africa.

Funso, a member of the Nigerian Institute of Public Relations (NIPR), and a corporate communication professional with over two decades of experience emerged top across Europe, the Middle East and the African region (EMEA). He was named ‘Most Influential Public relations professional in Nigeria’ by the industry regulator, NIPR in 2022.

Aina says: “I am grateful for the recognition from SABRE and its dedication to acknowledging exceptional content produced by modern PR professionals. This award is inspiring for all of us at MTN; it emboldens our commitment to improving the media landscape and implementing our ‘Good Together’ initiative. I am convinced we still have feats to achieve in the industry, and with strategic thinking, we will cover even more grounds.”

Funso Aina has close to three decades of work experience in journalism, cultural diplomacy and telecommunications. He has various competencies and hands-on experience in public relations, corporate communications, media relations, public affairs and reputation and crisis management. He is a Fellow of the prestigious US State Department’s International Visitors Programme (IVP) and the British Commonwealth Press Union (CPU).

Before joining MTN Nigeria in 2009, he was Communications Manager of the British Council, Chief Correspondent at Punch newspapers, Assistant Editor with The Nation newspapers and Senior Reporter with Independent Communications Network Limited (ICNL), publishers of The News, Tempo magazines and PM newspapers.

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He holds a Bachelor of Arts degree in History (University of Ilorin, 1992) and a Master’s degree in International Relations (Obafemi Awolowo University, Ile-Ife, 1998).

 

 

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BANKING

ICSFS Receives Information Security Management System ISO/IEC 27001 Certification

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ICS Financial Systems Ltd, (ICSFS), the global software and services provider for banks and financial institutions, was awarded the Information Security Management System (ISMS) ISO/IEC 27001 Standard Certification for the Data Centre, IT Department, and ICS BANKS Banking Software Solution Services in February of 2023, recognizing the company’s adherence to the highest standards of information security.

ISO/IEC 27001 is the world’s best known Internationally respected independent information security management standard, focused on providing highly effective and integrated frameworks for the standardization of information security protocols and setting systematic, rigorous, and improved information security policies.

Digital Times Nigeria understands that the Compliance audit covered several areas including data centre security, information security policies, procedures, and controls, as well as Information Security Management Standards, subjecting the protocols and processes carried out by the Data Centre, IT departments, and ICS BANKS integrated solutions and digital platform services to thorough examination and refinement, placing best practice procedures, as well as enhancing the resilience and responsiveness of potential security events.

Ghassan Sarsak, CIO, ICS Financial Systems Ltd said, “Achieving ISO/IEC 27001 demonstrates ICSFS’s commitment to building and delivering secure products and solutions by adopting internationally recognized security standards and best practices throughout the software development lifecycle (SDLC) to address risk and meet compliance and regulatory requirements.

“The phenomenon of the current global digitalization of most banks’ financial services and the collaboration with emerging fintech players make it essential to adopt the best security standards and to constantly maintain vigilant security monitoring to detect and respond to security events.

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“Becoming ISO/IEC 27001 certified is a significant step forward in our capacity to continuously assess the cybersecurity challenges for banks and financial institutions and how vital compliance is to our clients and their businesses.”

Wael Malkawi, Executive Director, ICS Financial Systems Ltd stated: “As a prominent provider of Banking, Financial, and digital platform solutions; cybersecurity is the bedrock of our credibility and solid reputation. The achievement of the ISO/IEC 27001 certification represents a significant milestone for ICSFS and reinforces the company’s commitment to delivering world-class banking software solutions.

“This certification is a testament to our continued commitment to providing secure and reliable banking software solutions for our clients, giving them the confidence to focus on their core business operations, particularly in this disruptive digital era.”

Dr. Samir Abu Tahoun, Co-Founder & CEO of Security Management Technology Group (SMT) noted: “We would like to congratulate ICSFS for successfully completing all the standard requirements and obtaining the ISO 27001 certification for their Information Security Management System (ISMS).

“SMT Group team is grateful to be a part of the successful implementation of the ISO 27001 certification, this couldn’t be accomplished without the cooperation of all ICSFS team members and their management support.

“Businesses nowadays are under intense pressure to adequately protect the information entrusted to them in light of recent Cybersecurity incidents. The ISO 27001 certification confirms that a company has met the international standard for establishing, implementing, maintaining, and constantly improving ISMS.

“Delivering the highest standard of service to our clients is an integral part of our ethos and business operations. This certification is a testament to our commitment to this, and most importantly, to our colleagues and clients.

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“Once again, we would like to express our sincere gratitude and appreciation for all the effort given through this project, it was our pleasure working with your esteemed company, and we look forward to more successful collaboration.”

ICSFS invests in its software suites by utilising modern technology in launching new digital products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.

ICS BANKS software suite future-proofs banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experience, hence improving the trust and confidentiality between the customer and the bank.

The software has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises, hybrid, or cloud.

 

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DIGITAL CURRENCY

Hyperspace Technologies Unveils Keymaster VAULT

Keymaster VAULT is a Low-Cost, Near Field Communication (NFC) technology-Based Hardware Wallet for the African Market

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Chidera Anyanebechi, General Manager, Hyperspace Technologies

Hyperspace Technologies, a Lagos-based Web3 startup specializing in next-level smart security infrastructure and key management systems, Monday announced the launch of its groundbreaking product, the Keymaster VAULT.

Designed to cater to the African market, Keymaster VAULT is a secure, NFC-based hardware wallet that stores private keys offline, offering an affordable and user-friendly alternative to expensive and complicated traditional hardware wallets.

Leveraging the simplicity of Near Field Communication (NFC) technology, the Keymaster VAULT allows users to securely access their digital assets by merely tapping their NFC-enabled devices.

Digital Times Nigeria understands that this eliminates complex installation processes, making the wallet an ideal choice for both cryptocurrency novices and experienced users.

With offline storage of private keys, the wallet significantly reduces the risk of hacks and malware attacks associated with online storage.

Chidera Anyanebechi, General Manager of Hyperspace Technologies said, “We wanted to create a wallet that combines the highest level of security with ease of use, making cryptocurrency storage accessible to a broader audience in Africa.”

“The Keymaster VAULT not only provides an affordable solution but also offers enterprise clients the ability to leverage blockchain-based identity and access management, which we believe will be a game-changer in the industry,” Anyanebechi explained.

The Keymaster VAULT’s advanced encryption technology ensures the utmost security for users’ digital assets.

Its compact design and portability make it a convenient choice for individuals and businesses looking to store their digital assets securely without breaking the bank or dealing with complicated setups.

“The African market has long been underserved when it comes to secure and affordable hardware wallet solutions,” added Anyanebechi.

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“We are excited to bring the Keymaster VAULT to our customers and empower them with a hardware wallet that not only protects their digital assets but also opens doors for innovative applications in blockchain-based identity and access management.”

The Keymaster VAULT is now available for purchase here, giving cryptocurrency enthusiasts and enterprise clients across Africa a secure, affordable, and user-friendly hardware wallet solution.

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