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MTN reports $672m profit in 2018, to list shares in Nigeria

UGO AMADI

TN Group reported a 110 percent growth in profit after tax (PAT) in 2018 driven by strong growth in voice, data and fintech revenue, according to its financial results for the year ended December 31, 2018. The telco grew PAT to R9.6 billion ($672.6 million) in 2018 from R4.6 billion a year earlier. Earnings before interest, tax, depreciation and amortization (EBITDA), which is a measure of a company’s operating performance, grew 2.7 percent to R48.2 billion.

Seplat recorded $746million 2018 , pays $0.05 dividend

….Operating profit stood at $310million

UGO AMADI

Seplat Petroleum Development Company Plc., a leading Nigerian indigenous oil and gas company, listed on both the Nigerian Stock Exchange and London Stock Exchange has announced a final dividend at a rate of US$0.05 (United States Five Cents) per Ordinary Share with a record of $746million revenue in 2018.

ALL ON offers scholarship to 120 solar entrepreneurs in the Niger Delta through Rubitec academy

All On, a Shell-funded off-grid energy impact investment company, will be funding scholarships for up to 120 professionals affiliated to the Niger Delta. The scholarship is designed to subsidize the cost of off-grid energy training programs provided by Rubitec Academy, the training arm of RUBITEC Solar; a leading solar energy company in Nigeria.

..felicitates with new NDDC board

Traditional rulers under the aegis of the National Executive Council of Traditional Rulers of Oil Minerals Producing Communities of Nigeria (TROMPCON) has urged the Federal Government to allow the Niger Delta Development Commission (NDDC) to be independent and operate within the ambit of the act establishing it.

Nigeria, India pledged to work closely to enhance energy security of both countries

The consensus came on the heels of a visit in Abuja of the Indian High Commissioner to Nigeria, His Excellency, Abhay Thakur, to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, a release by the corporation’s Group General Manager, Group Public Affairs, Mr. Ndu Ughamadu, has said.

Nigerian Society of Engineers commends NNPC for championing cause of women engineers

The Nigerian Society of Engineers (NSE) has commended the Nigerian National Petroleum Corporation (NNPC) for its exemplary role in the advocacy of science and engineering-based education for the girl child through support for the activities of the Association of Professional Women Engineers of Nigeria (APWEN).

Financial industry: Can your infrastructure support your innovation journey?

By Ejiro Obodo

Branch networks in premier business districts, traditionally believed to measure the stature of financial providers are being replaced with internet banking, payment apps and short-code banking. Technology has enabled non-traditional financial players upend branch networks typically dominated by large financial providers; with newer, nimbler entrants such as Interswitch and Paystack processing more online transactions than Nigeria’s biggest banks.

Nigerians need to adopt new technologies to grow the economy- MainOne CEO

UGO AMADI

MainOne Chief Executive Officer (CEO) Funke Opeke, has underlined the need for businesses in Nigeria to adopt new technologies to avoid falling behind the rest of the world in technological advancement. Opeke made this known at MainOne’s annual tech conference, Nerds Unite, which held recently in Lagos with the theme ‘Accelerating Digital Transformation.’

Nerds Unite 2019, hosted mid-level & top level IT executives, start-up innovators and IT enthusiasts who discussed emerging trends in the IT industry and how they affect Nigeria and Africa.

The event featured IT specialist including Toby Shapshak, ICT journalist and thought leader, Libby Barr; Chief Operating Officer, Avanti Communications, Obinna Ekezie; CEO, Wakanow, Ife Oyedele; CEO, Kobo 360, Deji Balogun; and CTO, Terragon Group among others.

At the event, IT experts discussed the importance of applying technology to every facet of life in line with digital transformation agenda of the Federal Government.

The keynote speaker at the event, Toby Shapshak, highlighted reasons why a connected Africa is way to move the continent forward. He pointed out the peculiar situation of Africa and why it is important for Africa to utilize her strength, innovate and catch up with the rest of the world.

The first session, which was titled “Connecting the Next Billion to the Internet and Beyond to Transform the Face of Africa,” was moderated by Shapshak. The speakers for this session included Libby Barr, COO of Avanti Comm, and Funke Opeke who tackled connectivity in Africa and the use of connectivity and technology to drive development in Nigeria.

According to Opeke, “A connected Nigeria is a more economically prosperous Nigeria. It is a better educated Nigeria, it is a Nigeria where access to social services and health services are able to reach more of our population which in itself adds to more prosperity for Nigeria.” She added that the opportunity to use technology to drive economic development is the vision of what ‘we have for a connected Nigeria’.

During a panel discussion on ‘how AI can revolutionize your business model and create new revenue streams,’ Bayo Adekanbi, Chief Transformation Officer at MTN Nigeria, said that there is more to gain from artificial intelligence than there is to lose, and that man would have to adapt to leverage these gains.

This session was chaired by Dr. Olayinka David-West of the Lagos Business School, with Bayo Adekanmbi, Chief Transformation Officer at MTN; Deji Balogun, CTO Terragon Group; and Ernest Terry, from Flutterwave as panelists.

A third session focused on cloud technology and cybersecurity. It was chaired by Ms Funke Opeke and the panelists included Niyi Ajao from NIBSS and Adedayo Adesanya, Lead Consultant at Virtual Nigeria.

The panelists lamented the challenges involved in cloud technology and cybersecurity especially IT illiteracy, with humorous attention drawn to the question, “When it rains, what happens to my data in the cloud?” But they agreed that cloud adoption is on the increase and emphasized the role of partnerships among global players and local cloud providers with issues such as latency and lack of government support affecting -growth.

In the final panel at the event, speakers gave insights and advice to questions asked by start-up founders and tech enthusiast, reminding them to “be comfortable making mistakes” and not to be discouraged by rejection. To a question put to the panel members by Aaron Fu of MEST Africa on whether to focus on making money or building userbase, Maya Horgan Famodu, MD, Ingressive says, “numbers are important…but you have to pay your bills.”

The event also featured exciting attractions like a raffle draw where lucky winners went home with gifts like Playstation 4, LG 43-inch TV, Apple smartwatch, among others and included an after-event party.

For a better society

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