Liquid Intelligent Technologies Completes Acquisition Of Telrad

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Liquid Intelligent Technologies Completes Acquisition Of Telrad

Leading African technology infrastructure and services provider Liquid Intelligent Technologies (Liquid) , a business of Cassava Technologies (Cassava), today announced the finalisation of its 100% acquisition and delisting of Telrad, an Israeli-based technology company (TASE: ILA).

Telrad has a significant presence in 13 countries across the Middle East, South America, United Sates, Eastern Europe, Asia and provides high-quality technology products and services for global businesses and governments. The company offers innovative technology solutions, including networking, cloud infrastructure, information technology, geoinformatics and cybersecurity.

Liquid has a unique ecosystem of intelligent technologies which bring high-speed and reliable cross-border connectivity, colocation, cloud, cybersecurity and digital services to mobile carriers and blue-chip enterprises. With a wholly owned, open access fibre network spanning 100,000 km, Liquid provides both local and regional connectivity. The terrestrial infrastructure is augmented by a vast network of subsea cables complementing Liquid’s international connectivity footprint.  Liquid’s cloud solutions include networking, cloud voice, cloud applications as well as cloud platforms, whilst its cyber security services include cyber defence, secure access and secure data.

According to Nic Rudnick, Deputy Chairman, Liquid Intelligent Technologies, “Earlier this year, Liquid had entered into a definitive agreement to acquire Telrad, and I am pleased that we have concluded this transaction. We look forward to the seamless integration of Telrad’s strong R&D programme and technology solutions in cyber security, data centres and wireless access technology with Liquid’s existing portfolio of solutions. Liquid and Telrad share similar ideologies of empowering customers through cost-effective connectivity and technology solutions. Together we will continue to digitally transform businesses globally”.

Mr Moti Elmaliach, Telrad’s Chief Executive Officer said, “Telrad has an incredibly strong track record of success and a rich history of innovation. We are excited to join forces and to leverage Telrad’s expertise across the full technology value chain along with that of Liquid and the wider Cassava group. This is an exciting step for Telrad,” said Elmaliach, “and an opportunity to innovate and grow exponentially in both the Israeli and international markets”.

Rudnick added, “Telrad will continue to be led by Mr. Moti Elmaliach as CEO, who will also be appointed to the group’s executive team and will be part of the international growth of the Liquid business globally”.

Cassava was founded by African entrepreneur, Strive Masiyiwa. The group’s Executive Chairman, Masiyiwa also serves on several international boards including Unilever Plc, Netflix, the Global Advisory Board for Bank of America, the Bill and Melinda Gates Foundation, and is also a longstanding board member of the United States Holocaust Museum’s Committee on Conscience.

Baffling Questions On The Economy – LBS Executive Breakfast Session – August 2022

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Baffling Questions On The Economy – LBS Executive Breakfast Session – August 2022

Some Nigerians believe that the country is in dire straits and are asking themselves as to how we got to this point on the economic decay curve.  We conducted a survey of investors, manufacturers, consumers and analysts to find out their views.

At this month’s LBS Breakfast Session, we broke with the routine and shared with members 5 baffling questions that were common to our respondents in the survey.  The questions reveal a thread of frustration, desperation and near hopelessness.  However, there are signs of cautious optimism & flickers of hope at the end of a dark tunnel.  Some of the questions are

Q1)    Official Headline inflation in Nigeria rose to 18.6% in June

What is the true & actual level of inflation in Nigeria?

Is the country suffering from hyper, run-away, spiralling or natural inflation?

Q2) After a sharp drop in the value of the Naira in the parallel market to almost N725/$, it has quickly corrected itself to N640/$ and is now climbing back again to N660.

Some pessimists say that a N1000/$ is around the corner while some say it will continue    bouncing around like a yoyo.

Is the Naira jinxed? Or what the h – – – k is going on?

What can I do? Should I go long on the dollar and short on the naira?

Q3)   Two years ago, somebody told me that the best hedge against inflation was real estate. Some others said US dollar equities was the real thing, some brave ones said bitcoin and cryptos were stable.

I went into all of these and lost my shirt.
What do I do now, with what I have left?

Should I invest in Nigerian equities or money market instruments?

Should I just buy precious metals or just go to church and my Pastor?

 Q4)    With all of these economic challenges – falling naira, slow growth, rising inflation, high  debt, rising poverty and unemployment, some people say the only solution is getting a                    PVC and voting.  Is this true and
How does getting a PVC solve an unresolvable problem?

In answering these questions at the LBS Breakfast Session, Bismarck Rewane and the FDC Think Tank analyze the current developments in the market, the economy and its impact on your business and strategy.

TAFTA Opens Call For Entries To Empower Over 65,600 Nigerian Youths

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TAFTA Opens Call For Entries To Empower Over 65,600 Nigerian Youths

Leading culture and art centre, Terra Kultaure, in partnership with Mastercard Foundation, has announced the launch of a new learning cohort for its art academy, TAFTA (Terra Academy for the Arts).

Applications for the free-to-attend training would commence from the 15th of August till the 15th of September 2022.

Boasting over 2,000 trained students since inception, the academy will run for six weeks and feature impactful courses by handpicked experts in the industry.

Commenting on the program’s launch, the Chief Executive Officer of Terra Kulture, Bolanle Austen-Peters, said, “We’re delighted to formally launch a platform that provides free education and employment opportunities for youths seeking to thrive in arts and business. TAFTA’s purpose is to provide youth, especially females, with foundational training, support, internships, employment opportunities, and connections to financial services.”

Regarding the academy’s entry requirement, Austen-Peters says, “The entry requirement is a minimum of senior secondary school qualifications. All classes will include an introductory section taught in English; however, local instructors will be available at each centre to assist students if any translation of course material is needed.

Terra Kulture is committed to promoting Nigeria’s rich linguistic diversity, arts, and culture. Through the various renowned productions and reputable projects such as TAFTA. TAFTA hopes to train 65,000 youths over five years, representing outreach at a low cost. With a 10% attrition rate, TAFTA will create at least 59,040 new jobs and entrepreneurship opportunities.

Interested participants are encouraged to apply here  https://terraacademyforarts.com/tafta-registration-form/

BreakThru recognized as one of Best Places to Work in Pakistan for 2022

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KARACHI, PAKISTAN – Media OutReach – 16 August 2022 – BreakThru, a leading technology and services company offering cutting edge messaging and AI products and services to online advertisers, has been recently awarded the Best Place to Work certification for 2022. During the company assessment, 86% of employees recommended the organization illustrating the company’s focus on creating a stand-out employee experience where everyone can do their best work.

The certification was based on anonymous ratings provided by employees and an HR Assessment evaluating the company’s people practices. Close to twenty workplace culture categories were measured, from work-life balance, leadership, and professional development opportunities to compensation, and perks and benefits.

“BreakThru is excited to announce that we are now a Best Place to Work Certified company” said Ashhad Syed CEO of the organization. He added “This achievement is a result of our continued commitment to building a healthy workplace culture that is transparent, fair, and where all employees feel respected and heard. At Breakthru we believe that if we take care of our employees then our employees will take care of our customers. We are proud of our employees and are committed to their personal and professional growth.

Best Places to Work is the most definitive ‘Employer of Choice’ certification that organizations aspire to achieve. Our Best Places to Work Assessment model is built on over 30 years of research in workplace excellence along with the best practices collected annually from over 5000 certified companies worldwide.

Every year, the program partners with many organizations in Pakistan, across different industries, to help them measure, benchmark, improve their HR practices and have access to the tools and expertise they need to deliver effective and sustainable change in their organizations.

For more information about the program, please visit http://www.bestplacestoworkfor.org

Hashtag: #BreakThru #BestPlacestoWork

DHL Express and Singapore Airlines partnership takes off with new Boeing freighter aircraft

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  • The newly-arrived Boeing 777F is the first of the five freighters to be based at Singapore Changi Airport, the location of DHL’s South Asia Hub
  • Operated and maintained by Singapore Airlines, the freighter will fly the Singapore-South Korea-United States of America route thrice weekly from August 2022

SINGAPORE/BONN – Media OutReach – 16 August 2022 – DHL Express, the world’s leading international express service provider, has welcomed the arrival of its new Boeing 777 freighter at Singapore Changi Airport. The freighter, which sports a dual DHL-Singapore Airlines (SIA) livery, has a maximum capacity of 102 tons. SIA will operate it on routes to the United States of America via South Korea thrice weekly from August 2022.

“SIA’s longstanding partnership with DHL reinforces Singapore’s position as a key air cargo and e-commerce logistics hub, and highlights our firm commitment to our cargo business. Air cargo also plays a vital role in keeping global supply chains open. Apart from supporting the fast-growing e-commerce segment, this new freighter operation provides a foundation to expand the partnership between SIA and DHL in the future,” says Lee Lik Hsin, Executive Vice President Commercial, SIA.

In March 2022, DHL Express and SIA signed a Crew and Maintenance agreement to deploy five Boeing 777 freighters. These freighters will be operated by SIA pilots, with the maintenance overseen by SIA. The second Boeing 777 freighter is slated to enter into service in November 2022, following which both freighters will operate the Singapore-Incheon-Los Angeles-Honolulu-Singapore route six times weekly. The remaining three freighters are planned for delivery throughout 2023. Following this, all five freighters will operate on routes between the United States and Singapore via points in North Asia and Australia.

www.singaporeair.com.

About Boeing

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future, leading with sustainability, and cultivating a culture based on the company’s core values of safety, quality and integrity. For more information, please visit .

How to Protect Yourself From Identity Theft

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How to Protect Yourself From Identity Theft

Identity theft occurs when a criminal obtains your personal information in order to commit identity fraud. “It’s gathering data for nefarious purposes,” says James Jones, head of consumer affairs at credit reference agency Experian.

“They could then use that information to apply for loans, goods, or services fraudulently.” It may also entail taking over or utilizing an existing product rather than opening a new one.”

Being targeted by fraudsters can be upsetting, and resolving the situation can take time. The crime can also have a direct impact on your personal finances, affecting your credit record and making it difficult to apply for credit cards, loans, or mortgages. So, what can you do to safeguard your identity?

Identity theft occurs when a criminal obtains your personal information in order to commit identity fraud. “It’s gathering data for nefarious purposes,” says James Jones, head of consumer affairs at credit reference agency Experian. “They could then use that information to apply for loans, goods, or services fraudulently.” It may also entail taking over or utilizing an existing product rather than opening a new one.”

Being targeted by fraudsters can be upsetting, and resolving the situation can take time. The crime can also have a direct impact on your personal finances, affecting your credit record and making it difficult to apply for credit cards, loans, or mortgages. So, what can you do to safeguard your identity?

If in doubt, don’t click

Don’t click on third-party links, whether they arrive via social media posts, text messages or emails, or anywhere else. The simple rule is, always look up the official website.

Be aware of fraud trends

“Fraudsters are very good at using trends to change their tactics, and at the moment the cost of living crisis is particularly hot,” Burridge says. “We have seen an increase in criminals posing as energy companies claiming they can offer a better deal, or as supermarkets offering money-off vouchers.”

Investment scams target those who need to supplement their income. Fraudsters pose as legitimate firms asking the victim to share their computer screen using remote access, so they can harvest personal and financial data.

They have also been posing as network providers asking for details of your existing contract, so they can offer you a better deal. Once they have these details, they can order devices in your name.

“When the government announced energy rebates through council tax, people started to see messages popping up saying: ‘Click here to set up your payment,’” says Jones. “If you’re not careful, you could give your bank account details to a crook.”.

Protect passwords

“Password managers, like 1Password or LastPass, can be a great way of creating strong passwords and keeping track of them,” says Steve Goddard, the fraud and financial crime expert at Featurespace, a firm that provides tools to banks that aim to stop stolen IDs being used fraudulently.

For example, LastPass will generate and store passwords in an online “vault” that you can access through an authenticator on your phone. It has free and premium versions.

Online shopping

“If you’re searching for a particular store, make sure the URL is correct and that it has https at the start, or a little padlock – these mean it should be secure. If they are missing, you are potentially taking a risk,” Goddard says.

If you search for a store on Google, avoid clicking on the ads at the top of the page, he adds.

“It’s better to find the actual website because those ads are subscription-based, and someone could be waiting for the subscription to expire and take it over themselves,” he says.

Shred documents

Most – but not all – ID theft happens online. However, you still need to be careful when it comes to letters and other documents. “It’s still good practice to shred any document with your personal details on it,” Goddard advises.

“When you throw out a bill, for example, you’re sending it from a protected area – your house – to, say, landfill, and it’s got your full name, address, contact details and an account number.

“Somebody could take that, and pretend to be the company and say to a victim: ‘You’ve got an outstanding bill, here’s the sort code and account number to pay it into.’”

Update where you live

If you move house, remember to contact all the relevant companies and organisations – from your bank and credit card company to your doctor and dentist – to update them, and organise to have your mail redirected.

Make sure you notify the electoral roll, too, so that you are not registered at an old address.

Experian’s Jones says: “We include electoral register information in credit reports to help lenders check your name and address. So you don’t want to be registered somewhere that you don’t actually live because that could obviously help make a fraudulent application look a lot more legitimate.”

Heed the warning signs

According to the Information Commissioner’s Office, if you stop receiving statements from your bank for no reason, or you begin to receive letters or demands for debts that aren’t yours, or if you get receipts in your name for services or items you haven’t bought, these could all be a sign that someone has been using your identity.

NIRSAL MFB Announces New Loan Opportunities For Farmers And Small And Medium-Sized Enterprises

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NIRSAL MFB Announces New Loan Opportunities For Farmers And Small And Medium-Sized Enterprises

The NIRSAL Microfinance Bank Limited (NIRSAL MFB) has announced plans to launch a new agricultural loan product aimed at farmers and businesses along the value chain.

The products will be unveiled before the end of the year, according to the management.

It stated that successful applicants will also benefit from the Federal Government Agricultural Credit Guarantee Scheme Fund (ACGSF) and the Interest Drawback Programme for farmers and businesses in the agricultural value chain.

The bank recently launched new and exciting products as part of its On-Balance-Sheet Lending portfolio for Micro, Small, and Medium Enterprises (MSMEs) that require affordable credit facilities to grow their businesses.

The offer included the SME Loan, which is intended for micro-businesses and SMEs engaged in daily sales trading activities.

This group of customers can borrow between N50,000 and N250 million, subject to a satisfactory turnover that covers the expected facility amount.

The product is also available to petty traders in organized markets who have existing businesses and require credit facilities ranging from N50,000 to N300,000 to supplement their business capital, according to the bank.

 

It went on to say that the petty trader does not have to have a history with the bank or any other bank to use the service.

 

Furthermore, the Salary Advance offer is intended for individuals in paid employment whose wages have been consistent for three years.

“The interest rate for these products is very competitive, and there is a streamlined documentation process for access to any of the bank’s above facilities.”

The NMFB has reiterated that these products are distinct from the bank’s government intervention products. As a result, applications for loan facilities within the On-Balance-Sheet Lending portfolio will be evaluated in accordance with the Bank’s Risk Acceptance Criteria,” it stated.

Ghanaians Struggles As The Country’s Misery Index Rises To 60.8 In July

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Ghanaians Struggles As The Country’s Misery Index Rises To 60.8 In July

Ghana’s Struggle Index rose to 60.8 in July, nearly doubling the 31.51 recorded at the end of 2021. This also compares to Nigeria’s 62.79 calculated for July 2022.

The index reflects Ghanaians’ current difficult economic conditions, which include currency depreciation, high inflation, and an increasing external debt burden.

The Misery Index is an economic indicator that attempts to track a variety of economic statistics in order to quantify the degree of economic misery felt by ordinary people in a given economy.

According to Hanke (2011), the misery index is calculated by adding the unemployment rate, inflation rate, lending rates, and the country’s GDP growth rate. Otherwise, it is written as follows: Unemployment + Inflation + Bank Lending Rates – GDP Growth Rate = Misery Index).

Ghana’s misery
Nairametrics examined data from Ghana’s Statistical Service and the Bank of Ghana to investigate the level of misery in Ghana. Thus, based on the most recent available data for inflation (31.7%), unemployment (19%), lending rate (13.4%), and GDP growth rate,

Ghana’s most recent Misery Index is 67.4 (31.7% + 19% + 13.4% – 3.3%).
Based on the data, it is clear that inflation and the lending rate are the primary causes of Ghana’s economic difficulties.

It is worth noting, however, that the high loan rate reflects the Bank of Ghana’s efforts to keep inflation under control.

The components of Ghana’s Misery Index are summarized below.

31.7% inflation
Ghana’s inflation rate increased from 29.8% to 31.7% in July 2022. This was the fastest rate since November 2003, and it was the eleventh consecutive month that the rate exceeded the upper limit of the central bank’s target range of 6% to 10%.

This rapid inflation has been linked to trade disruptions caused by the Russian-Ukrainian war, as well as a drop in the cedi’s value, which increased the cost of imported goods such as cooking oil and gasoline.

Since the beginning of the year, the Ghanaian cedi has fallen by 47.10% against the US dollar, making it the world’s second-worst performing currency after the Sri Lankan rupee.

In comparison to the inflation rate in Nigeria

Unemployment is 13.4%.
According to Ghana’s 2021 Population and Housing Census, the unemployment rate is at an all-time high of 13.4%, nearly tripling the 6% recorded in 2010.

This means that more than 1.55 million of the country’s economically active population are unemployed.

 

Nonetheless, Ghana’s unemployment rate remains low when compared to Nigeria’s 33.3%.

Seven-Month Cashless Transactions Rise To 41%, Hits N210tn

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Seven-Month Cashless Transactions Rise To 41%, Hits N210tn

According to data from the Nigeria Inter-Bank Settlement System, cashless transactions in Nigeria increased by 40.66 percent year on year to N210.08 trillion in the first seven months of 2022.

From January to July 2022, N210.08tn was processed through the Nigeria Instant Payment System (NIP) and Point of Sales terminals (PoS), demonstrating how cashless transactions are monitored on the NIBSS.

PoS transactions increased by N1.05 trillion, from N3.56 trillion in the first seven months of 2022 to N4.61 trillion in the same period of 2021.

The NIBSS data also indicated increased use of electronic payment gateways, as NIP and PoS terminals were used 1 billion more times from January to July 2022 than they were in the same period in 2021.

The two payment terminals were used 3.41 billion times during the review period and 2.40 billion times during the same period in 2021.

Since the beginning of the COVID-19 pandemic, the use of electronic payment gateways has increased dramatically. The pandemic increased the number of contactless transactions and transactions.

The NIBSS asserted in its ‘Instant Payments – 2020 Annual Statistics’ that the pandemic had altered the e-Payments landscape and hastened the adoption of instant payments because more people were using electronic channels for funds exchange.

This is in line with the Central Bank of Nigeria’s plan to transition the country’s economy from cash to electronic.

Since the beginning of the COVID-19 pandemic, the use of electronic payment gateways has increased dramatically. The pandemic increased the number of contactless transactions and transactions.

The NIBSS asserted in its ‘Instant Payments – 2020 Annual Statistics’ that the pandemic had altered the e-Payments landscape and hastened the adoption of instant payments because more people were using electronic channels for funds exchange.

This is in line with the Central Bank of Nigeria’s plan to transition the country’s economy from cash to electronic.

 

This is N60.73tn more than the N149.36tn value in the same period in 2021.

 

In the period under review, NIP transactions hit N205.48tn, which is N59.68tn higher than the N145.79tn value in the corresponding period of 2021.

“It taught us many new ways to do things.” COVID has demonstrated that we can do things that we previously thought required the assistance of a third party. COVID aided in the channel’s adoption. Many people used to prefer to go to the bank to make payments, but now they use e-channels.”

According to Lilian Phido, Head of Corporate Communications at NIBBS, more people were accepting payment gateways, and the platforms had become more stable and reliable.

Customers aren’t the only ones who have noticed the rise of electronic payment in Nigeria. The Federal Government included an Electronic Money Transfer Levy in the Finance Act of 2020 to benefit from the nation’s growing use of e-payment.

The EMTL is a one-time payment of N50 made on electronic receipt or transfer of funds deposited in any deposit money bank or financial institution for sums of N10,000 or more. The levy generated N111.84 billion for the government in 2021.

It also forecasts N483.73 billion from the levy over the next three years.

Callsign Value of Digital Trust Index Report reveals first ever economic value to building digital trust of US$3,000 GDP per capita

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Study further found 79% of consumers in Asia Pacific want digital identity system

SINGAPORE – ) with the World Bank , and , which equalled 3.73%. Given that the digital economy grows 2.5x quicker than Global GDP, the digital economy’s growth rate for 2022 was 9.33%.

Compounding this growth until 2025 meant that the digital economy would be worth US $20.8 trillion, while the Global GDP would be US $108.9 trillion. Therefore, the digital economy would account for 19.13% of Global GDP in 2025 an increase of 3.63% over 2021.

Given the current macroeconomic context these are clearly projections, which assume that the economy will continue to grow through 2025 with a significant economic downturn. Additionally, the value of the digital economy may in fact be a greater percentage of the Global GDP in years to come as our economy continues to benefit from digital innovation and more humans getting access and begin contributing to the digital economy. The above analysis was conducted by Callsign Corporate Strategy team.

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