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LSETF, Visa drive cash-less scheme, offers N3.5m in grants
Akintunde Oyebode of the Lagos State Employment Trust Fund (LSETF)
In efforts to drive cash-less project and boost ease of doing business for Micro, Small and Medium Scale Enterprises (MSMEs), the Lagos State Employment Trust Fund (LSETF) in partnership with Visa, has created payment solutions, during the “Cash-less Lagos Hackathon.”
The solutions came after a three-day hacking boot, hosted at the Vibranium Valley, where young tech experts were selected and expected to leverage on existing financial technologies to assist MSMEs regardless of their literacy level, to adopt the initiative.
The Cash-less Lagos Hackathon, according to the organisers, was to improve business efficiency, boost financial inclusion, and reduce theft to the barest minimum, by proffering solutions that make payment easy.
The hackathon also hosted an array of Nigerian software developers, programmers, coders, data specialists and designers, who developed technology-based financial solutions to allow MSMEs make and receive payments, make bulk purchases and keep transaction inventory.
The winners of the Hackathon- Team Blended, Maverick and LagosPay, were selected based on impact, design, innovation, user-interface and customer validation and got the grand prize of N2,000,000, N1,000,000 and N500,000 respectively.
The Executive Secretary, LSETF, Akintunde Oyebode, said Hackathon was designed to solve problems around cash management in Lagos, adding that it was aimed at how to use technology to improve small businesses.
“I am pleased with the winning teams and the possibility of using these solutions to solve payment issues experienced by small businesses. If we are able to help businesses optimise payments and grow, it will not only improve the state’s economy, but also create new jobs.
“This hackathon further demonstrates how partnerships between government and socially responsible companies can spur development and create double or triple bottom line impact.”
The General Manager, Visa West Africa, Kemi Okusanya, expressed Visa’s deep commitment in ensuring that merchants have access to innovative technologies to make and receive payments.
She added that the company is keen on facilitating financial inclusion goals in Nigeria, thereby reducing reliance on cash.
She said: “We constantly strive to reduce reliance on cash, and encourage the development of a digital payments ecosystem for both individuals and businesses. I am very impressed with the quality of solutions developed by these teams and look forward to seeing them adopted by businesses across Nigeria.”
Leader for Team Blended, Olawale Olarenwaju said the solution to going cashless is by having a mobile Point of Sales (POS). “Our solution is a handy PoS in a mobile device such that once you input your card details it works like the normal PoS. Our integration will be powered by Visa because it is big card switching companies that allow us authenticate other cards through Visa,” he said.
Olarenwaju added that cards transaction still has huge amount of success if we push the boundaries further.
“The solution works with an OTP authentication for security purpose.
If the user’s phone number is not registered, it cannot get an OTP to validate the transaction. We believe that we will be able to get into the market and enable MSME to make seamless payment,” he noted.
Team Blended won with its solution that allows merchants get validation of transactions via USSD with mobile phone numbers as User pass and authentication; Team Maverick took the second position with a mobile-based solution that allows merchant pay in advance for services, schedule appointments, while also helping them keep track of their payment inventories, while the third prizewinner, LagosPay developed a solution that collects payments electronically, by leveraging already existing payment channels, and incentivizing payments with rewards and points.
He added that the competing teams were able to identify pressing needs and created solutions relating to receiving payment and going cashless.
“The prices they won will be used to build the actual solution. What you see here is the prototype solution and we hope to take it to the market in the next six months. We also have banks interested in how they support the roll out of the solution for their customers bringing the ecosystem together,” he said.
Speaking on the partnership with Visa, Oyebode said it is ETF core value to attract trusted partners to deliver right solutions for SMES, and added that the hackathon will be a continuous program.
“This is the second program we launched this year. We look forward to doing more and partner with relevant institutions. We are funding tech startups and issued work space stations to 50 startups already and to 25 more before the end of this month. In total, we are talking about 80 million in work space vouchers. A funding allowance of 200 million naira is available and this is the first set of funding going to the tech ecosystem,” he added.
(GuardianNG)
Meta recently hosted its first Youth Summit in Lagos, Nigeria, bringing together over 200 young professionals, students, recent graduates, creatives, tech enthusiasts and aspiring entrepreneurs.
Themed ‘Empowering Youth Through Technology, Innovation and Entrepreneurship’, the summit included a series of thought-provoking panel discussions, a mentoring session and an interactive workshop designed to equip young Nigerians with the skills, insights and networks needed to thrive in today’s tech-driven world.
Commenting about the event, Phil Oduor, Head of Policy Programs, Sub-Saharan Africa said, “At Meta, we believe that today’s youth are tomorrow’s change-makers. Through initiatives like the Youth Summit, we aim to foster innovation, promote digital literacy and empower young Nigerians with the tools and opportunities to realise their potential and contribute to Nigeria’s growing digital economy.”
Delivering the keynote address, Femi Aluko, CEO/Co-Founder, Chowdeck, shared his journey of breaking barriers to achieve success in tech. He encouraged attendees to embrace the limitless opportunities within today’s technology ecosystem.
A panel discussion, led by Chinny Francis, Public Policy Manager at Meta, featured panellists Nifemi Akinwamide, Head of Operations, Alt School; Adaora Mbelu, Co-Founder of Lumination Global and Obaloluwa Adeagbo, Marketing Lead at Talstack. They shared valuable insights about the future of work, emphasising the importance of storytelling to build a personal brand, practicing self-awareness, developing soft skills, lifelong learning and honing problem-solving skills to thrive in a digitally transformed world.
Francis Sani, Technical Adviser for Innovation, Entrepreneurship & Capital at the Federal Ministry of Communications, Innovation & Digital Economy, spoke at the event. He highlighted the 3 Million Technical Talent (3MTT) program, emphasising that the program aims to build Nigeria’s technical talent backbone to drive the digital economy and position Nigeria as a net talent exporter. He encouraged youth to take advantage of this opportunity.
Another panel of industry experts took the stage during the ‘Lunch and Learn: Navigating Entrepreneurship in a Rapidly Changing Landscape’ session, moderated by Sade Dada, Head of Public Policy for Anglophone West Africa at Meta. Seye Bandele, CEO of PaidHR and Damilola Teidi-Ayoola, Head of Platform and Networks at Ventures Platform Fund, shared their invaluable insights. Seye highlighted the importance of grit, curiosity and candour, while Damilola reinforced the need to understand one’s target audience, deliver value through their business and embrace data-driven decision-making in the dynamic entrepreneurial landscape.
The event also featured inspiring conversations with leading figures in the creative industry. Miss Techy, an award winning tech content creator and Salem King, a creator, storyteller, author and speaker, shared their experiences and advice on achieving long-term success. Attendees also benefited from an interactive workshop and a mentoring session, where industry experts shared practical advice and strategies for entrepreneurs and tech enthusiasts.
Meta’s Youth Summit 2024 highlights a commitment to driving positive change, championing youth empowerment and advancing economic opportunities in Nigeria. Through investments in key areas—such as the creative industry, digital literacy, economic impact and youth job training—Meta is dedicated to empowering young Nigerians to thrive in today’s tech-driven world.
Cross-section of some of the attendees at the Meta Youth Summit 2024 in Lagos
L-R: Chinny Francis, Public Policy Manager, Meta; Nifemi Akinwamide, Head of Operations, Alt School; Adaora Mbelu, Co-Founder of Lumination Global and Obaloluwa Adeagbo, Marketing Lead at Talstack.
L-R: Sade Dada, Head of Public Policy, Anglophone West Africa, Meta; Damilola Teidi-Ayoola, Head of Platform and Networks, Ventures Platform Fund, and Seye Bandele, Chief Executive Officer, PaidHR during the Lunch and Learn: Navigating Entrepreneurship in a Rapidly Changing Landscape panel session.
Salem King, a creator, storyteller, author and speaker and Miss Techy, an award winning tech content creator
During a mentoring session workshop
Femi Aluko, Chief Executive Officer and Co-founder, Chowdeck.
Francis Sani, Technical Adviser to the minister of communications and digital economy of Nigeria
Novotel Director Sales and Marketing Joesph Kimondo, PR and Marketing Manager Ivy Irungu, General Manager Fabio gonsalves, During the Media Briefing at the hotel (L-R).
Novotel, one of Accor’s flagship brands and a champion of balanced living, is proud to announce the opening of Novotel Nairobi Westlands, Kenya.
Situated in the vibrant Westlands area, the new hotel seamlessly balances moments of adventure, relaxation, business, and pleasure, offering a truly reenergising experience just 20 minutes from Jomo Kenyatta International Airport (JKIA). Guests can explore multiple attractions with ease such as the Nairobi National Park, modern shopping malls, entertainment spots, the Giraffe Centre, and the Maasai traditional Market. The hotel caters to business travellers and families eager to share quality moments.
Novotel Nairobi Westlands offers 347 stylish rooms and suites, all featuring the brand’s signature design concept by RF Studio, which emphasises adaptability and sustainability, creating a comfortable, modern atmosphere. For business travellers, the hotel offers 13 versatile, intuitive meeting and event spaces, including a ballroom that can host over 100 guests – ideal for conferences, corporate functions, and social gatherings.
For guests seeking relaxation, the hotel’s state-of-the-art spa offers a range of curated signature massage therapies, designed to provide the ultimate rejuvenation experience. Each treatment is crafted to melt away stress and restore balance. For those looking to stay active, the fitness centre provides expert-led individual and group training sessions, offering a mix of tailored workout routines to suit all fitness levels.
“We are excited to introduce Novotel to Nairobi, a city that beautifully blends rich cultural heritage with modern dynamism,” said Fabio Gonsalves, General Manager of Novotel Nairobi Westlands, Kenya. ‘’Our goal is to create a welcoming space for business travelers and families alike, where quality moments lead to a more balanced life. At Novotel Nairobi Westlands, where modern living meets the pulse of cultural fusion, we offer flexible workspaces and relaxed dining options to suit everyone. It’s a place where guests can truly unwind, connect, and leave feeling invigorated.
The hotel’s four distinct dining concepts take guests on a culinary journey. The rooftop Trunk & Tandoor Gastro Bar offers Indian-inspired cuisine paired with breathtaking views of Nairobi’s skyline, creating the perfect setting for a relaxed evening. Gemma’s Italian Kitchen & Bar provides an all-day dining experience with rich Italian flavours in a welcoming atmosphere. Located at the heart of the lobby, the Safari themed Social Hub coffee lounge and bar adds a unique local flair, inviting guests to connect and unwind. For those seeking a more laid-back experience, the rooftop Pool Bar serves light bites and refreshing drinks, perfect for unwinding under the sun while enjoying the stunning panoramic city views.
Whether complementing a safari adventure or enjoying a family getaway, Novotel Nairobi Westlands offers travellers and locals the perfect environment to connect with family, friends, and colleagues and share quality moments.
“With the opening of Novotel Nairobi Westlands, we are proud to reaffirm our commitment to Africa. The hotel offers a gateway to Nairobi’s vibrant experiences and marks a significant milestone in our growth strategy, as we continue to expand our footprint in key markets across the continent while enriching local communities.” said Paul Stevens, Chief Operating Officer Premium, Midscale & Economy Division, Middle East & Africa for Accor.
Following a longstanding commitment to support its guests’ pursuit of balance in their lives, Novotel announced a three-year agreement with World Wide Fund for Nature (WWF) to champion the protection and restoration of the world’s oceans, the greatest source of balance for the planet’s climate, through science-based action and conservation projects. Novotel has built a three-year Positive Impact Plan, rooted in three of the United Nations’ priority ocean-related actions, namely: reducing marine pollution and ocean acidification, particularly from land-based activities; fighting overfishing and promoting sustainable fishing models; and increasing scientific knowledge and research for ocean health.
To celebrate the opening, Novotel Nairobi Westlands is offering rates from Kes 20,000, including breakfast. True to the Novotel Family Promise, up to two children under 16 can stay for free in their parents’ room.
Members of the brand’s ALL loyalty programme, can unlock 4X Reward Points when booking on all.com until 24/11/2024, for stays up until 12/01/2025. Guests can join the loyalty programme for free and earn points towards a number of benefits, including free hotel stays.
Novotel Nairobi Westlands is Safe Hotels Certified, ensuring our guests peace of mind with globally recognized safety standards. This certification highlights our commitment to a secure, comfortable, and welcoming stay.
FOO, the award-winning B2B Software as a Service (SaaS) solutions provider, has partnered with eNovate (formerly known as eCards), Egypt’s premier provider of cutting-edge digital payment solutions, to build upon eNovate’s existing portfolio of products and services.
eNovate is an independent subsidiary of eFinance Investment Group (EFIG), Egypt’s leading investment management firm. Originally established in 2009 as EFIG’s card services division, it has since evolved to deliver comprehensive, integrated digital payment solutions for a range of clients, including fintechs and financial institutions; ministries and governmental entities; transportation authorities; and NGOs.
With more than 55 million cards issued to date, and millions of transactions processed annually for Meeza, VISA and Mastercard, eNovate continues to position itself at the forefront of Egypt’s digital payment ecosystem.
eNovate has strategically partnered with FOO to enhance its portfolio by leveraging FOO’s expertise, extensive range of services, and innovative approach to product development. FOO’s modular platform, built on a customizable suite of micro-services, enables the delivery of SaaS products across the financial services spectrum – from digital onboarding to digital banking – with unparalleled levels of flexibility, scalability and security.
Through this partnership, eNovate will also deliver Fintech as a Service (FaaS) solutions. Designed to help fintechs rapidly launch and scale their operations, FOO’s advanced ‘out-of-the-box’ FaaS solution streamlines the development process. This approach drastically reduces the time and resources needed to bring fintech products to market, enabling companies to move from concept to deployment within months, rather than years. By providing a comprehensive, scalable platform, this collaboration empowers fintechs across Egypt to focus on innovation and growth, accelerating their path to success in the country’s dynamic financial sector.
Both companies share a strong commitment to driving digital transformation, both within Egypt and the broader payment ecosystem. This collaboration will build on eNovate’s success to date, to further the delivery of fully compliant, end-to-end solutions that meet the diverse needs of its clients and their customers.
This ongoing partnership between FOO and eNovate includes several key projects, the first of which is an end-to-end digital solution for universities across Egypt. Integrated with each university’s learning management system, it will enable students to complete a range of actions – from payments to identity verification – via one easy-to-use app.
Further significant projects are to be announced in due course.
Ghady Rayess, Co-founder and Managing Director at FOO, commented: “At FOO, innovation is integral to our approach. We are proud to partner with eNovate, a true industry trailblazer, to contribute to the remarkable transformation taking place in Egypt’s financial services sector. With the support of the Central Bank of Egypt (CBE), we are committed to delivering robust financial solutions that will not only strengthen eNovate’s position as a leading innovation hub, but also further digital transformation across Egypt.”
Nashwa Kamel, CEO at eNovate, commented: “We are delighted to be working with FOO. Their commitment to cutting-edge technology and innovation aligns with our vision for providing digital payment solutions in Egypt and across the region. This partnership represents a milestone in our mission to revolutionize the financial landscape, providing our clients and their customers with unparalleled opportunities and enhanced experiences. By combining eNovate’s expertise with FOO’s pioneering solutions, we are positioned to set new benchmarks in the industry, driving forward digital transformation and reinforcing our role as a leader in the global payment ecosystem.”
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