Multichoice’s commitment to enriching lives, as their mantra says, has never been in doubt.
Through MultiChoice Nigeria’s socio-economic investment, for 27 years, the company has made significant contributions to the growth of the Nigerian economy. At the heart of this investment is entrepreneurship and employment opportunities through multiple channel distribution platforms and a commitment to the continuous growth of the sports, technology, film and video sectors through infrastructural development.
In 2015, when a set of big goals called the Millennium Development Goals that were set two decades ago reached their ‘expiry date’, with some of the key objectives still unmet, a new 15-year timeline was set for yet another group of goals, this time called the Sustainable Development Goals. From eight goals to seventeen new goals, five years in, the world can say that a major shift seems to be happening.
One clear indication of this is in the way business operations for many organizations around the world have evolved. With many companies becoming more conscious of how their affairs affect the environment, how consumers interact with their products, and how much value they really add to society, corporate social responsibility or value, has moved from being an item on the checklist to become a business core.
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Now, while many businesses seem to be playing catch-up, there are others even in Africa, who unknowingly, but with great startup vision, had laid the foundation and built a template for what a socially responsible company should look like.
Established in 1993, Multichoice Nigeria had a 7-year lead time, before the MDGs became a guide and used those years to build a solid business that combines profit and purpose. Today, that business represents what shared prosperity is, having created the right mix of opportunities for its people to grow, while helping to build an industry that ranks as the second-largest in the world and the most loved in Africa.
As people say, if content is king, distribution is definitely queen, and this thinking remains why Nollywood owes a lot of the accolades it gets today to Multichoice Nigeria. Between 2015 and 2019, Accenture in its new report for Multichoice, estimates that about $428million has gone into the local content production business of Multichoice, mostly in developing local creativity and building the production infrastructure to support it. To put this investment in more perspective, it directly translates to 117,459 hours of local content. That’s huge, on both an African and global scale, even huger given that it’s only from 5 years of enriching lives; definitely more if the organization’s 27 years is brought into view.
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These sorts of investments rarely occur without a ripple effect on human capital development, but leaving things to chance isn’t the Multichoice way. The Multichoice Talent Factory further drives the local content goal for Multichoice, as they welcome a cohort of 20 students who after one year graduate, are better equipped to keep the African film industry innovative and constantly growing. It is an intentional play at giving equal opportunities to anyone with film and broadcast dreams to pick the skills they require to make a mark in the industry.
On one hand, as Multichoice continues to build more credibility for the entertainment and media industry in Africa, through its investment in local content, future talents, even award shows, it is also ensuring the market for the content they produce grows on the other hand. This process has required a strong supply chain and Multichoice Nigeria has proven equal to the task investing over $1 billion in their distributor, supplier, even installer network in just the last 5 years. With further investment in their 961 employees, in the areas of training and other benefits, it is safe to say they have gone beyond building a business, to building an ecosystem.
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Whether this ecosystem model works is a question their recently released socio-economic value report put together by Accenture and covering the last five years of operations answers perfectly. The contribution of an estimated US$2.1bn to the Nigerian economy between that 5-year period, shows that they understand the role they play in achieving a prosperous Africa based on inclusive growth and sustainable development.
In Multichoice’s 27 years of operating in Nigeria, their commitment to actually enriching lives as their mantra says, has never been in doubt. Beyond the strides their video content business has made in employing people directly, creating jobs for even more people in adjacent industries, training talents and building infrastructure; the company has always still found a way to give back to the different communities where they operate.
With a portfolio of grassroots sporting programs, various awards that recognize great work from inspiring Africans, essential care for people with sickle cell disorder and investments in education and educational content, Multichoice Nigeria shows it is more than just business.
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The CBN aims to ensure Nigerians are empowered with critical information to stay fraud aware and cyber safe.
The Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria, on Monday, September 7th, 2020 launched rookie微博its cybersecurity & fraud awareness campaignrookie微博, called rookie微博‘Moni Sense’;rookie微博 to educate the general public on protecting themselves against cyber fraud and scams. As we kick off the end of year business season, comprehensive fraud and cybersecurity awareness remains important in ensuring the general Nigerian public is informed on their role in protecting their banking information from fraudulent activities.
Speaking on the initiative, rookie微博Mr. Emeka Emuwarookie微博, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said;
“Fraudsters and scammers continually devise new ways to deceive the unsuspecting public, usually to lure them to inadvertently disclose confidential bank information. We encourage Nigerians to always be cautious and ignore any text message, phone call, or email asking to update your bank information, provide sensitive bank details, disclose online banking details, debit card numbers, bank verification number (BVN) or PIN to anyone.”
Financial literacy and public enlightenment are a critical pillar of the Bankers’ Committee mandate, making initiatives like this critical to the goal of increasing the number of financially included citizens in the country. With this initiative, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria aims to ensure Nigerians are empowered with critical information and knowledge necessary to make important financial decisions, enhance economic prosperity, stay fraud aware and cyber safe, and drive poverty reduction across the country.
In March 2020, the Central Bank of Nigeria (CBN) and the Bankers’ Committee introduced credit support schemes for households, MSMEs and businesses across several sectors including Healthcare, Manufacturing, Agriculture, Trading, and Aviation. The Bank unveiled a succession of targeted facilities starting with a N50 billion credit facility to support households, and micro, small and medium enterprises (MSMEs), followed by another N100 billion credit support intervention for the health sector as part of efforts to combat the negative impact of coronavirus (COVID 19) on the Nigerian economy.
For any enquiries, please send an email to rookie微博[email protected]rookie微博
FCMB customers will now enjoy all the benefits of interest rates reduction.
First City Monument Bank (FCMB) has again lived up to expectation as a customer-centric and responsive Bank. The latest in the series of actions taken by the financial institution is a reduction of interest rates on all consumer loan products.
The reduction, which took effect from August 12, 2020 applies to all Salary Plus Loans, including Premium Salary Plus, Auto Loans and Home Loans, of FCMB, whether they are newly disbursed or already?running loans. The slash of interest rates means that customers will be repaying lower amounts each month and can also borrow higher amounts than previously. In addition to the benefits of interest rates reduction, customers also have the option to restructure?their consumer loans by opting for reduced tenure instead of reduced repayment amount.
In a statement, FCMB explained that the decision to reduce interest rates and restructure its consumer loan products in a more flexible manner are the latest initiatives in response to the current?economic realities induced by the novel COVID-19 (coronavirus) pandemic, which has impacted negatively on personal and households income and expenditure, as well as on businesses and the socio-economic environment in general.
FCMB’s bold move to cut interest rates has been applauded by customers, as it will go a long way in enhancing standard of living by helping customers free up extra income to boost purchasing power?and meet other expenses in a convenient manner. The development is also expected to have a multiplier effect on the Nigerian economy in terms of stimulating growth and development.
Commenting on the interest rate reduction and restructuring of repayment tenure, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said, “we realise the financial challenges confronting our customers due to the prevailing economic situation caused by COVID-19. As a caring and responsive Bank, we are committed to give them all the support needed to ease the situation. This year alone, we have given out more than N30 billion in retail loans to over 475,000 customers. Because we have also digitized the application process for many of our loans, customers can get some loans instantly simply by?applying on their mobile phone or the ATM. With the reduction in interest rates, we expect to make positive impact in more lives by giving our customers the financial support they need, when it matters most”.
With a customer base of almost 6 million as at the end of June 2020, robust digital banking offerings cutting across mobile, internet and ATM platforms, as well as over 200 branches spread across?Nigeria, FCMB offers bespoke financial solutions that align with the lifestyles of its existing and potential customers.
The Bank’s giant strides and consistent impressive performance in the retail segment of the Nigerian banking industry continues to receive positive affirmation. FCMB was conferred with the award of “Most Business-Friendly Bank” at the 2019 edition of the Business Day Banking and Finance Awards. It equally bagged the award of “Excellence in Customer Experience” at the Finnovex Award held last year. In 2018, it won the prestigious award of ‘’Excellence in Retail Banking’’ at the New Age Banking Summit & Awards.
First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective?segments.
Having successfully transformed to a retail banking and investment management led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.
For more information, please visit www.fcmb.com.
The crème de la crème of cryptocurrency platforms recently discussed the future of digital currencies.
The evolution of human economic development has taken different dimensions starting from the early stone age to the medieval period, to the barter exchange era, cowry’s usage, paper money/currency, and now bitcoin. For starters, Bitcoin is a cryptocurrency; a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities.
Market analysts, stakeholders, organizations, concerned individuals, and even naysayers over the years have pondered on the legibility and legality of bitcoin, especially when it comes to its uses, security, challenges, and fast adoption in Africa.
All these and more formed the idea behind the recently concluded rookie微博Techpoint Africarookie微博 event that was held on the rookie微博27th – 28th August 2020rookie微博 on which we had an important conversation of the topic tagged rookie微博“Secure Digital Currencies for the Future of Africa”.rookie微博 The event had in attendance the crème de la crème of cryptocurrency platforms in Africa, CEO of tech start-ups, and crypto enthusiasts.
The panel session which was moderated by rookie微博Damilola Odufuwarookie微博, Head of PR Africa, Binance, and featured rookie微博Marius Reits, CEO Luno, South Africa; Fejiro Hanu Agbodje, the Founder and CEO of Patricia Technologies Limited; Eric Anan, CEO Kubix, Ghana; Damilola Odufuwa (moderator) Head of PR, Africa, Binance; and Yele Bademosi, Founder, Microtraction and Bundle Africa, rookie微博was one full of insights.
Speaking on current crypto barriers, rookie微博Yele Bademosrookie微博i posited that a lot of people are just getting into the digital space and do not understand what it is. For him, the way forward is repeated education.
Following up on early crypto adoption in Africa was the question of financial freedom for all and ways crypto can be used to achieve that,? rookie微博Hanu Fejiro Agbodje rookie微博responded thus; “there is a lot you can do with crypto these days. Using Patricia as an example, all you need to do is sign up and you are good to go. With bitcoin, you can effortlessly fix your data subscription, buy airtime and data, and with the new invention of the Luxury bitcoin debit card, that enables you to withdraw cash directly from your bitcoin wallet”. He stated that in his bid to keep enthusiasts informed and reach a wider audience, he had conversions surrounding cryptocurrencies (Bitcoin) go up on one of the most viewed TV shows in Africa – Big Brother Naija. This was aimed at pushing the crypto boundaries and having the conversations revolve around the cryptocurrency ecosystem in Africa.
Finally, on their expectations of the growth of crypto in Africa, the panelists collectively affirmed that they expect to see more institutions go into crypto for cross-border payments, in addition to more people buying and storing bitcoin.
In conclusion, start-up companies in Africa need to build crypto/blockchain solutions that work for the context of Africa. A concept that is set to not only make Bitcoin known around the world but have it herald the future of digital currencies.
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