2019 in Review: The Global Economy Explained in 5 Charts

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2019 in Review: The Global Economy Explained in 5 Charts

Global growth this year recorded its weakest pace since the global financial crisis a decade ago, reflecting common influences across countries and country-specific factors.

Rising trade barriers and associated uncertainty weighed on business sentiment and activity globally. In some cases (advanced economies and China), these developments magnified cyclical and structural slowdowns already underway.

Further pressures came from country-specific weakness in large emerging market economies such as Brazil, India, Mexico, and Russia. Worsening macroeconomic stress related to tighter financial conditions (Argentina), geopolitical tensions (Iran), and social unrest (Venezuela, Libya, Yemen) rounded out the difficult picture.

With the economic environment becoming more uncertain, firms turned cautious on long-range spending and global purchases of machinery and equipment decelerated. Household demand for durable goods also weakened, although there was a pick up in the second quarter of 2019. This was particularly evident with automobiles, where regulatory changes, new emission standards, and possibly the shift to ride-shares weighed on sales in several countries.

Faced with sluggish demand for durable goods, firms scaled back industrial production. Global trade—which is intensive in durable final goods and the components used to produce them—slowed to a standstill.

Central banks reacted aggressively to the weaker activity. Over the course of the year, several—including the US Federal Reserve, the European Central Bank (ECB), and large emerging market central banks—cut interest rates, while the ECB also restarted asset purchases.

These policies averted a deeper slowdown. Lower interest rates and supportive financial conditions reinforced still-resilient purchases of nondurable goods and services, encouraging job creation. Tight labour markets and gradually rising wages, in turn, supported consumer confidence and household spending.

Will these bright spots translate into stronger global growth next year? Find out more when the IMF releases its World Economic Outlook Update on January 20.

Access Bank Took BAFEST 2019 To A Whole New Level! (Photos)

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Access Bank Took BAFEST 2019 To A Whole New Level! (Photos)

If you were not at BAFEST on Sunday, you have no idea how much you missed!! Let’s start with the fashion and art section; where different designers put their amazing clothes up on display with a runway to round it up. Some of the designers present were: Tokyo James, David Tlale, Weizdhurm Franklin, and Odio Mimonet. Some great artists present were Lemi Ghariokwu, Bob Nosa and Isaac Emokpae.

Moving on to the film section which was personally hosted by Accelerate TV, I can honestly say that this was my second favourite thing about BAFEST. The film section was such a vibe! It was basically a mini cinema which was showing some of our favourite films; Elevator Baby, Morning Marriage and My Mfon by Michael (AMA Psalmist). Even movies from the Accelerate filmmaker project 2019 were screened; Scars, Blast, Black Monday, If Only and Last.

Now the concert, everyone’s favourite part, as you can see from the pictures, it was a blast! From, Teni, Patoranking, Niniola, Seyi Shay, Joe boy, Becca, Mr. Real, 9ice, Ice Prince, Burna and Naira Marley, the turn up was on another level on Sunday! Especially when Naira Marley came on stage, people who were all the way at the back, ran forward just to see him perform, the same thing for Burna Boy, who even gave us an acapella version of one of his songs!

People danced and danced until they were no longer able to feel their feet as DJ big N gave us jams after jams and he even threw in some fuji in between. Our favourite hype man Do2tun also came on stage to hype up the crowd and give us some special zanku moves while at it.

Let’s not forget that there were also photo booths at the back where people were taking pictures with their friends and significant others, they did that just after they got their bodies painted on in the craft section. The People of BAFEST really came ready to give us from all angles.

The Born In Africa Festival was definitely the place to be on Sunday, it was a fusion of art, film, fashion and music, I loved every part of it, especially the part with the drummers in the air. I cant waist for BAFEST 2020, it’s going to be a madness!!

Check out some of the photos below:

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Watch the third short film from the 2019 Accelerate Filmmaker Project -“Scar”

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Watch the third short film from the 2019 Accelerate Filmmaker Project -“Scar”

It’s no denial that self-esteem is extremely important in the life of everyone. Scar explores the life of a reclusive lady, who is tasked with making a pitch for a client at work. We are introduced to a side of her that shows the level of psychological torture she has suffered over the years. She is faced with a tough decision, to either go ahead with the presentation or lose her job.

Written and directed by Miriam Dera, Scar is one of the films by the Top 5 finalist of this year’s filmmaker project initiative and is also already garnering recognition as it was named The Best Accelerate Filmmaker short film of 2019 at the 9th edition of the African International Film Festival.

Watch: 

All short films from the 2019 Accelerate filmmaker project drop every Monday in December.

To catch up with the latest Accelerate Filmmaker Project short films as they drop and for more exciting content from Accelerate, subscribe to the Accelerate TV YouTube channel https://www.youtube.com/user/TheAccelerateTV and follow the Accelerate website on https://acceleratetv.com/

Internet Society Foundation Announces $300,000 in Grants for Projects that Promote the Benefits of the Internet

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Internet Society Foundation Announces $300,000 in Grants for Projects that Promote the Benefits of the Internet

Projects in Mali, Madagascar, South Africa among grant recipients

WASHINGTON D.C., United States of America, December 18, 2019,/ — The new Internet Society Foundation has issued its first set of medium and large grants (ranging from $12,000 to USD $30,000 each) to 13 ground-breaking projects that seek to spread the benefits of the Internet around the world.

The Internet Society established the Internet Society Foundation to fund projects that will improve the quality of people’s lives everywhere. The Foundation awards grants to Internet Society Chapters as well as non-profit organizations and individuals dedicated to providing meaningful access to an open, globally-connected and trusted the Internet for everyone.

Of the more than 40 applications received this year, 13 projects were selected by a committee that evaluated projects based on criteria that included originality and innovation, community impact and sustainability and technical feasibility, among others.

The projects in Africa selected for grants are:

  • $30,000 to create Wi-Fi access points and an off-the-grid Media Center within the Mamaila Tribal Authority, South Africa. The project will also build community capacity through training on cybersecurity, content development, entrepreneurship, and the construction, operation and maintenance of community networks. This aims to empower unemployed youth to organize themselves into cooperatives to advance their socio-economic aspirations and expand the planned network infrastructure.
  • $12,322 will go towards creating community networks for 5,000 people in three remote farming communities and awareness-raising in Madagascar. The project will also provide technical training and basic Internet skills to a group of people who will train others to use the Internet to capture practical information for their economic development (such as on weather forecasts that can impact harvests and the prices of the agricultural products they sell).
  • $30,000 to generate reliable statistical data on Internet use in Mali, in particular on the use/misuse of social media, which has become popular in both rural and urban areas. Most existing data has been produced by telecoms operators, for commercial ends, and results have not been made widely accessible. The results of this project, however, will be widely available through its publication and dissemination. 

The Internet Society Foundation provides grants to the Internet community, Internet Society Chapters, non-profits and individuals working on one or more of the following program areas:

  • Initiatives that build community capacity to access and benefit from the Internet (including digital literacy skills, reaching unconnected populations, awareness-raising and local content-production);
  • Initiatives that respond to natural disasters;
  • Opportunities for research across technical, economic and public policy topics;
  • Initiatives that demonstrate innovative techniques to advance an Internet for all; and
  • Local and regional projects supported by ISOC’s nearly 140 Chapters (Beyond the Net).

The Internet Society Foundation will launch its next call for grant applications in early 2020. More information on future calls for grants can be found at: http://bit.ly/2PvLrW2

Home Alone After School: A Safety Guide for Kids

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Home Alone After School: A Safety Guide for Kids

This guide was created to help families prepare for a child being home alone. Use these tips, technologies, and our refrigerator-friendly Safety Guide for Kids to prepare your kids to stay safe when they’re on their own.

For some families, there’s no way around older kids being home alone after school. This isn’t a new phenomenon, but what is new is a host of new technology and devices that make it easier for parents to keep track of and increase the safety of their children in the hours between school and when parents get home from work. And it goes way beyond just having a home security system.

While there is no set or agreed-upon age for when is appropriate to leave kids home alone, the U.S. Children’s Bureau does offer some guidelines with regard to evaluating maturity level in children. Most parents can’t even rely on the law to determine when it’s OK to leave kids home alone, as according to the Children’s Bureau, only three states (Illinois, Maryland, and Oregon) have such laws on the book.

Here are some tips, technologies, and hacks to help parents keep kids safe when they’re home alone after school.

In This Article:

Prepare Before Your Child Needs to be Home Alone

Is Your Child Ready?

Before you decide to leave your kids at home, consider their level of maturity. While some kids may do well being left alone, not everyone would be comfortable in this type of setting. Ask yourself these questions to determine if perhaps you need to make alternate plans:

Timing: Is this recurring time home alone, or one-time? Will your child be home alone in the morning, afternoon or evening?

Comfort level: Is your child scared of being home alone? If they need help, are they comfortable talking to adults such as neighbours or emergency responders?

Compliance: Do your children typically follow the rules that you set? Do your children avoid telling you when something has gone wrong and they need help?

Responsibility: Are older children responsible for taking care of younger children – and if so, are they mature enough to take on this responsibility? Can your child accurately judge what is and isn’t an emergency and can choose to call 9-1-1?

An Emergency Plan Ahead of Time

One of the best ways to prep your child to stay home alone is to have an open and honest discussion with them. Before the big day comes, sit down with your child and go over what to do in an emergency. Even better, have them write down the answers to these questions themselves so they’re sure to remember. Want a printable version of these questions? Reviews.com has created a refrigerator-friendly PDF here.

Child Safety Technologies

Smart Home Camera

A smart home camera is one way to help keep your kids safe and give parents some extra peace of mind. “Parents today are living in an interesting time: teeter-tottering with how and when to use tech to keep tabs on their children,” says Ben Nader, general manager of video solutions at Ooma, which makes smart cameras. With DIY home security cameras increasingly making their way into homes, Nader says parents can use these cameras to keep tabs on their kids’ whereabouts. Certain cameras, such as Google Nest cameras, are even unrolling features that allow cameras to detect familiar faces, technology which has potential to give parents additional insight into the comings and goings at home while they’re away.

Smart Doorbell Camera

A doorbell camera is another option. “Parents tell their kids not to answer the door, but kids tend to ignore this rule when the uninvited guest might be a friend,” warns Justin Lavelle, chief communications officer with BeenVerified, an online background check platform. “While peepholes are a safety precaution, they do not prevent strangers from seeing your child through adjacent windows, nor can some children reach the peepholes.”

He recommends a smart doorbell camera or video doorbell that detects movement approaching your front door, or someone ringing the doorbell, and sends a notification to you. This allows parents to stay on top of visitors to the front door while they’re away and kids are home alone. “Nest, Ring, Swann, and Arlo are just a few of the many brands offering such surveillance devices that connect to your smartphone via Wi-Fi and app,” he says. “Some smart doorbells even have a feature that allows homeowners to communicate with their surprise house guest from a remote location.”

GPS Watch for Kids

While a smart camera is great when kids come home from school, they don’t offer much for the time between a kid leaving school and getting home. A GPS watch for kids gives parents additional visibility into a kid’s journey home. These watches have GPS capability that allows parents to look up the exact location of the watch, so as long as a kid is wearing the watch, the parent can make sure they’re where they need to be. Another common feature for these watches allows parents to program a set number of phone numbers the child can communicate with by phone call or text. Sten Kirkbak, the co-founder of XPLORA a European maker of GPS watches for kids, points out certain watches can also specify geolocated safety zones. “If the child enters or leaves the area, the parent will be notified,” Kirkbak says.

Tracking Apps

In lieu of getting a GPS watch, Lavelle recommends downloading a tracking app. “Having a tracking app installed on a smartphone will let you know your kids’ exact location; thus, if there is any trouble (like taking the wrong turn home), you can give them the help they need.” If your kids are old enough to have smartphones and they’re responsible enough to keep up with them, this is one of the most inexpensive ways to monitor their location. A few such kid-tracking apps include Footprints, AngelSense, and Life360.

Computer Monitoring Software

Kids often come home from school and jump on the computer – and the Internet – to start doing homework. However, the Internet can also pose risks if kids are unsupervised when using it. “With no one there to monitor what websites they’re accessing, kids may come across inappropriate content that is not healthy for young eyes to see,” warns Lavelle.

Also, you don’t know who they may be interacting with online. “Children are susceptible to trusting strangers they meet online and giving out personal information,” he says.

“Such software as K9 Web Protection, Norton Family Online, and Net Nanny allow parents to control what their children have access to on the internet.” Lavelle also recommends parents set timers for how long kids can play games on the computer, to limit eye strain and balance online time with more active time.

“With the number of children and teens online growing year after year, instances of cyberbullying, sexting and online threats continue to flourish just as quickly,” says Titania Jordan, chief parenting officer at Bark, a parental internet monitoring company.

Smart Locks and Home Security Systems

A home security system can help protect kids from intruders, and also detects smoke and carbon monoxide leaks. However, kids who are home alone will need to know how to disarm the system to reduce false alarms, and also communicate verbal passwords to the alarm company. If law enforcement is routinely dispatched to a home for no reason, it could result in penalties and fines depending on local ordinances.

Tips and Tricks To Prepare for Being Home Alone

Daily Chats

While technology can help keep kids safe when they’re home alone after school, communication is also crucial. For example, Kirkbak recommends quick morning chats before school. “These chats are a great way to ensure your kids know where they need to go when the bell rings,” he says. “These briefs help reinforce the message that good communication between kids and parents regarding each other’s whereabouts, is important.” These kinds of conversations can help kids understand they shouldn’t make spontaneous decisions to stop off at a friend’s house without asking for permission or communicating their plans.

Baby Steps

Also, if this is the first time your kids are staying home alone, you may need to ease them into the process. ”Since processes like deactivating the internal alarm might be too stressful, to begin with, maybe consider turning that off for the first couple of days, until they have built up more confidence,” Kirkbak says.

“You might also consider small things, like keeping some lights on in the hallway to avoid a completely dark house on return, or perhaps leaving on the radio and leaving out a little surprise, to help create a more welcoming and homely atmosphere for a child to come home to.”

Sten Kirkbak, co-founder of XPLORA a European maker of GPS watches for kids

Have a Backup Plan

In addition, it’s a good idea to have a backup plan. For example, even if you use smartphones or smartwatches, consider what would happen if your kids lost their devices. One way to address this is to print physical copies of phone numbers that can be posted on the fridge or put in your kids’ backpacks, so they will always have a way to contact someone in the event of an emergency.

Know Your Neighbors

  • It could also be a good idea to make sure your kid knows to go to a trusted neighbour who can provide assistance when circumstances merit.

Airtel Nigeria Partners Lagos State to Host Greater 2020 End of Year Festival

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Airtel Nigeria Partners Lagos State to Host Greater 2020 End of Year Festival

Leading telecommunications services provider, Airtel Nigeria, has partnered with the Lagos State Government to host one of the biggest End of Year Festival dubbed the Greater 2020, a carnival that will hold across five locations in Lagos and feature some of the biggest Nigerian artistes including Olamide, Fireboy, Zlatan and D.J Spinal, among others.

Themed ‘Simply Unforgettable,’ the Carnival will open to the public on the 25th of December across five locations, namely: Agege Stadium, Ikorodu Town Hall, Recreational Place Youth Centre, Epe; Badagry Grammar School, Badagry and the Eko Atlantic, Victoria Island, Lagos.

On the 31st of December, 2019, the Greater Lagos 2020 End of Year Festival will climax with simultaneous concerts across the five locations, creating huge platforms for thousands of Lagosians to party into the New Year, 2020.

Airtel says it is excited to partner with the Lagos State Government on the Greater 2020 initiative as the platform will provide an opportunity to excite, delight and reward telecommunications consumers across Lagos in a fun-filled and electrifying atmosphere, adding that the Airtel brand is always alive and committed to connecting Lagosians to everything they love and cherish.

Commenting on the initiative, the Lagos State Commissioner for Tourism, Arts & Culture, Mrs. Olufunke Adebolu said: “Greater Lagos 2020 is targeted at showing Nigerians home and abroad how Lagos has evolved in the last decade and the opportunities available to investors regardless of their race or nationality.”

In his submission, popular artiste, Olamide, noted that the Greater Lagos 2020 is an event that better positions this city and everyone who wants to achieve anything worthwhile in this city should support it.”

The Greater Lagos 2020 Festival will offer opportunities for Lagosians to connect with many big brands that will showcase their products, services and innovation, across the five locations.

FrieslandCampina WAMCO Gets New App For Dairy Farmers

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FrieslandCampina WAMCO Gets New App For Dairy Farmers

Two Nigerian entrepreneurs (former students of the University of Ibadan) and three research students from the Delft University of Technology, The Netherlands, have developed a mobile software application to help dairy farmers perform better.

From left: Dairy Extension Manager, FrieslandCampina WAMCO, Dr. Adebayo Akinade; Students from Delft University, The Netherlands, Margot Ridderikhoff, Jaap Dechering and Betsie Loeffen; Baale, Fashola Community, Oyo State, Alhaji Tijani Abdulah; University of Ibadan students Oyewale Abioye and Gbadegesin Alawode; with DDP Administrative Manager, Henry Adaobor

Named the ‘mDairy App’ according to the company’s spokesperson and Executive Director, Corporate Affairs, Mrs. Ore Famurewa, the effort is being made in partnership with FrieslandCampina WAMCO.

“The three students from the Delft University of Technology and the mDairy app co-founders are collaborating to support local dairy farmers at our different Dairy Development Programme (DDP) sites,” Famurewa said.

The Dutch students are Margot Ridderikhoff, Jaap Dechering, and Betsie Loeffen while the mDairy’s co-founders are Oyewale Abioye and Gbadegesin Alawode.

In 2017, FrieslandCampina WAMCO partnered with the Dutch-Nigerian Students Business Challenge, an initiative of the Dutch Foreign Affairs Ministry and sponsored by corporations mainly of Dutch origin. The initiative aims to address challenges in Nigeria’s health, energy and food sectors.

Having successfully completed and presented relevant business solutions, a new team of three students attached to FrieslandCampina WAMCO came to Nigeria recently to join Oyewale and Gbadegesin in order to deploy mDairy App, which DDP farmers can use with little or no challenge.

To ensure that all farmers from various socioeconomic backgrounds are integrated, the team is also developing an interactive voice message service that would facilitate easy access.

“The mDairy app once deployed is designed to serve as one-stop-shop for DDP farmers’ information needs” Famurewa explained.

Travelstart takes Control of Jumia Travel in Africa

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Travelstart takes Control of Jumia Travel in Africa

As Jumia continues its strides to the profitability of its businesses in Africa, the company released the distribution and commercial arm of its Travel Business; Jumia Travel to Travelstart.

This was recently confirmed as Travelstart signed a commercial and distribution agreement with Jumia to take control of sales, fulfilment and customer service aspects of Jumia Travel’s online booking websites in all its regions across Africa.

This strategic move is to ensure that Jumia re-invest their resources in key markets, services and technology to create the best customer experience in Africa and allow for growth across the board.

This latest development further reinforces Travelstart’s strength as the number one online travel booking agency in Africa.

EVP Jumia On-Demand service, Joe Falter, mentioned that Travelstart is the perfect partner to establish the success which Jumia Travel has achieved hitherto.

“We have a strong belief in the potential of the online travel industry and travel portals in Africa and have built a strong platform across our markets to address this opportunity. In Travelstart, we have found the perfect partner to build on the success Jumia Travel has achieved so far. While we will continue to promote the travel category, Travelstart will be responsible for the operational side of the business. The travel ecosystem in Africa will be further energised by this partnership.”

“This partnership will ensure we remain hyper-focused on our growth and path to profitability as we reinvest our resources in our key markets, services and technology to create the best customer experience in Africa and allow Jumia to thrive,” He continued.

In addition to Falter’s statement, the CEO of Travelstart, Stephan Ekbergh, explained how Jumia’s exclusive distribution partner will help even more travellers in Africa unlock high-quality online travel services:

“Twelve thousand customers travel with us daily. Being Jumia’s exclusive distribution partner will help even more travellers in Africa unlock high-quality online travel services.”

This new development will enable Travelstart to gain larger market share in Nigeria and Kenya where Jumia Travel currently has its largest base.

Travelstart also hopes to take advantage of this new partnership to gain new customers in emerging markets, as they currently operate in nine different African countries.

Furst Salvo Unveils Mobile App for Savings and Investment

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Furst Salvo Unveils Mobile App for Savings and Investment

Furst Salvo Limited, a global financial business advisory and investment company, launched savings and investment mobile App.

The App which is available for download on the iOS Store and Google play store is a savings platform that helps you save money smartly while earning returns on your savings. It is to encourage savings habit among Nigerians in an easy and reliable way, which also offer users lucrative interest payment on savings of between 10 – 15% per annum.

In statement as issued by the company, Marketing Director, Furst Salvo Limited, Omawumi Jeyema said that Salvo understands the peculiarity of the Nigerian economy which puts strain on people’s finances, thereby making it difficult for people to set aside funds to achieve future goals like buying a land, car, owning a business or towards tuition fees for their children. With a focus on addressing challenges, Salvo has developed an easy and reliable way to encourage saving habit among Nigerians who will not only have access to their full savings but also get an enviable interest on their money.

Savings can be done daily, weekly or monthly with as little as 100 Naira which allows Nigerians to begin their journey into financial freedom. As required by the Nigerian Law, this product is powered and supported by a duly licensed bank; Xslnce Microfinance Bank.

Omawumi added that “as a socially responsible organization, over the years, we have remained committed to providing reliable financial solutions to Nigerians, to make life easier for all and ensure peace of mind that would guarantee a feeling of satisfaction and fulfilment.”

She further disclosed that customers should expect continuous development of the application to make savings seamless and assured value for money. “We are consistently active in this regard as our technical team works round the clock to ensure the Salvo savings application meets global standard and guarantees ease of the process.”

Salvo is the guide to financial security where users can invest, save and spend responsibly, it is easy to use with smooth navigation through the downloading process.

The journey to your financial goals begins with a click! To get started register with a valid email and phone number, Visit www.salvo.ng or download Salvo App from Ios store or Google Play store to create an account in less than 5 minutes. #savespendsmartly.

Ecobank Moves Into Top Five Ranking In The 2019 Nigeria Banking Customer Experience Survey

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Ecobank Moves Into Top Five Ranking In The 2019 Nigeria Banking Customer Experience Survey

The 2019 Nigeria banking industry customer experience survey report recently published by KPMG Nigeria showed that Ecobank Nigeria recorded significant improvement in the SME segment of the survey.

According to the report, analysis of performance in the SME segment reveals dynamism in the 2019 ranking. Despite lower levels of overall satisfaction for SMEs, Fidelity Bank and Ecobank made the greatest improvements with both banks moving up more than four places into the top five banks. FCMB emerged 1st while Access Bank came 3rd.

In the retail segment, the top two performers have remained the same for the fourth consecutive year. GTBank replaced Zenith Bank as the top-rated bank in the 2019 ranking. Sterling Bank, First Bank and UBA are the biggest movers in 2019, coming in 3rd, 5th and 7th places respectively.

In the wholesale segment, Citi Bank and GTBank maintained top spots from previous year ranking while new entrants Standard Chartered and Access Bank make the top five positions at 3rd and 5th places, respectively.

KPMG Nigeria has conducted the research survey since 2007. The researchers have asked customers across financial market segments about their experience with their banks. Over the period, more than 200,000 customers were surveyed across the country.

The 2019 survey research was conducted through face-to-face and online survey methodology completed Q2 and Q3 2019. The survey covered 25,466 retail customers, 3,045 SMEs and 369 commercial/corporate organizations.

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