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We are at risk of losing revenue to Dangote Refinery, expresses concern NIMASA DG

Tosin Ranks
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We are at risk of losing revenue to Dangote Refinery, expresses concern NIMASA DG

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, expressed concerns about a potential decline in revenue due to the commencement of operations at the Dangote Oil Refinery.

Dangote Refinery recently announced the initiation of diesel and aviation fuel production, marking a significant development as Nigeria’s first privately owned oil refinery with a $19 billion investment and a daily production capacity of 650,000 barrels.

Dr. Jamoh, during a meeting with a delegation from Dangote Port operations, highlighted the anticipated reduction in NIMASA revenue, attributing it to a decrease in ship imports of petroleum products and the subsequent impact on the 3% freight levy collected by the agency.

Despite this potential loss, he emphasized NIMASA’s commitment to supporting the refinery’s success, prioritizing Nigeria’s long-term economic growth over immediate revenue.

To address operational concerns and ensure regulatory compliance, both parties agreed to establish a joint working committee within 14 days.

Dr. Jamoh proposed a collaborative approach, forming a committee with representatives from NIMASA and Dangote to objectively address issues.

Managing Director of Dangote Ports Operations, Akin Omole, emphasized the need for smooth business operations, aiming to avoid delays and bottlenecks that could incur significant costs in the shipping industry.

The collaborative efforts between NIMASA and Dangote aim to facilitate the refinery’s operations while adhering to federal regulations on wet cargo afreightment.

Moniepoint successfully handled more than 5 billion transactions in the year 2023

Tosin Ranks
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Moniepoint successfully handled more than 5 billion transactions in the year 2023

Moniepoint experienced substantial growth, processing over $150 billion in transactions, a significant leap from the $100 billion handled the previous year.

Originally established as TeamApt in 2015 to offer payment solutions to financial institutions, the company transitioned to providing direct financial services to Nigerian businesses in 2019.

By 2023, Moniepoint underwent a complete rebrand, and by 2022, it boasted a user base of 600,000 businesses.

While specific figures weren’t disclosed, the company saw a noteworthy increase in processed transactions, soaring from 1.7 billion in 2022 to over 5 billion in 2023.

Notably, Moniepoint’s web platform, Monify, facilitated over $10 billion of these transactions, while its PoS terminals handled 3.3 billion transactions.

In the competitive PoS market in Nigeria, Moniepoint emerged with the second-highest number of PoS agents, totaling 303,946 or 20.06% of all agents.

Although OPay claimed the top spot with 563,252 PoS agents, accounting for 37.17% of the total 1.5 million agents in the country by December 2022, Moniepoint’s sources indicate a significant increase in its agent numbers since then.

The overall PoS landscape in Nigeria expanded, reaching 1.8 million terminals by March 2023, as reported by Nairametrics.

This growth aligns with a surge in monthly PoS transactions to ₦1.1 trillion, likely influenced by the cash redesign policy that prompted a cash crunch, prompting increased reliance on online transactions.

In the fourth quarter of 2023, Netflix welcomed over 13 million new users, including 5.05 million from Africa and the Middle East

Tosin Ranks
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In the fourth quarter of 2023, Netflix welcomed over 13 million new users, including 5.05 million from Africa and the Middle East

Netflix’s Q4 2023 report reveals a substantial milestone, with 13.12 million new subscribers, bringing the total to 260 million. The Europe, Middle East, and Africa region contributed significantly, adding 5.05 million subscribers.

Q4 2023 saw a remarkable 12% revenue increase, surpassing expectations by 2%, and marking a 6% rise from the previous year.

Despite a robust Q4, Netflix had added 7.66 million subscribers in Q4 2022.

The year 2023 showcased Netflix’s steady growth, boasting a 12.5% YoY revenue increase.

The 13.12 million paid net additions in Q4 marked their “largest Q4 ever.” The success is attributed to features like paid sharing, recent pricing adjustments, and a strong content lineup.

Netflix hints at occasional extra charges for platform improvements amid a surge in subscribers.

The company plans to phase out the Basic Plan in select markets, starting with Canada and the UK in Q2 2024.

Adding World Wrestling Entertainment (WWE) to its lineup in January 2025 is a strategic move, potentially boosting ad reach and subscriber growth.

WWE’s extensive global viewership and strong social media presence make it a valuable addition.

A comprehensive report released in December 2023, “What We Watched: A Netflix Engagement,” highlights subscribers’ watch lists, revealing a staggering 100 billion hours of view time on over 18,000 titles.

In the African market, Showmax, owned by MultiChoice, surpassed Netflix in market share in 2023.

Showmax’s announcement of new prices and the launch of Showmax 2.0 on February 12, 2024, indicates a competitive stance.

Contrastingly, Amazon Prime Video in Africa is streamlining operations by cutting jobs and reducing local content production, focusing on European markets and discontinuing acceptance of local content.

 

OPay Commemorates Outstanding Milestones of 2023 and Reveals Ambitious Goals for 2024

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OPay Commemorates Outstanding Milestones of 2023 and Reveals Ambitious Goals for 2024

Nigeria – OPay, a prominent fintech company, is delighted to highlight its remarkable achievements in 2023 and unveil its ambitious plans for the upcoming year.

Guided by CEO Mr. Dauda Gotring’s visionary leadership, OPay has firmly established itself in the financial industry, poised to achieve new milestones in 2024.

According to Mr. Dauda Gotring, “In 2023, OPay achieved significant milestones by dominating the financial industry, experiencing exponential growth in its customer base, empowering people through Agent and Merchant networks, and offering affordable financial services through our robust technology payment platform.

We extend our gratitude to our valued customers for their continuous support and to regulators for their guidance in ensuring strict compliance with our services.”

2023 Milestone Achievements

Business Achievement

Leveraging modern robust technology, OPay facilitated superfast financial payments during the redesign of Naira notes, shifting the focus to digital payments amidst a cash crunch.

In the same year, millions of Verve debit cards were issued at subsidized prices, equipped with seamless card-linking technology, enabling customers to purchase cards locally.

OPay opened 17 customer centers across Nigeria, addressing complaints and inquiries while enhancing Agent and Merchant solutions.

Continuous reinforcement of the platform’s security mitigated fraud, establishing a “Safe and Secure” environment for customer funds.

Brand Recognition

In 2023, OPay received recognition from various independent organizations for its outstanding financial services, including CNBC and Statista’s global ranking as the “Sole” Nigerian Digital Platform and the ADVAN African Consumer Choice Award 2023 for Best FINTECH.

2024 Plans – “The Next Milestone

Mr. Gotring Dauda, the CEO, outlined OPay’s plans for 2024, emphasizing the commitment to modern technology and delivering cutting-edge financial services while upholding core values of “customer first” and “excellence in innovation.”

2024 Market Penetration Plans

OPay aims to enhance the payment user experience, introduce value-added services like the “Pay with OPay Wallet solution,” and persistently work towards making financial services more inclusive through technology.

Additional focuses for 2024 include:

1. Innovative Customer Service

Introducing a first-of-its-kind online customer service accessible via the Mobile App, equipped with 500+ experienced staff members, allowing customers to make inquiries and resolve issues efficiently.

2. Platform Securit

Leveraging technology for continued reinforcement of the payment platform’s robust network, introducing new security tools, and enhancing various security features to ensure 100% secure transactions.

3. Corporate Social Responsibility

OPay commits to corporate social responsibility by providing long-term educational scholarships to secondary and tertiary institutions nationwide, alongside internship programs to empower youths for their future careers.

About OPay

Established in 2018, OPay is a leading financial institution in Nigeria, dedicated to making financial services more inclusive through technology.

 

Licensed by the CBN and insured by the NDIC, OPay offers a range of payment services, including money transfer, bill payment, airtime & data purchase, card services, and merchant payments, known for its super-fast experience and reliable network.

 

NeuRaL AI unveils BionicBox, designed for enterprises implementing Large Language Models (LLMs)

Tosin Ranks
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NeuRaL AI unveils BionicBox, designed for enterprises implementing Large Language Models (LLMs)

NeuRaL AI, a Lagos-based company supporting organizations in developing and deploying Large Language Models (LLMs) for generative text, has unveiled BionicBox, a groundbreaking advancement that enhances the accessibility, adaptability, security, and speed of large language models.

The AI Readiness Report 2023 reveals a rising demand for generative AI technologies, such as Chat GPT, across diverse sectors. However, challenges like specialized expertise, domain-specific requirements, and security concerns often hinder companies, according to Oluseyi Akindeinde, the founder of NeuRaL AI.

Akindeinde emphasizes that BionicBox aims to elevate customer experience by personalizing interactions through its on-premise RAG system, fostering satisfaction, loyalty, and increased profitability.

Additionally, the solution, with Chat GPT-like capabilities, streamlines interactions with live documents, enhancing decision-making and operational efficiency.

He highlights the profitability boost facilitated by AI models within BionicBox, ensuring operational efficiency and unlocking new levels of profitability.

The secure on-premise deployment addresses data privacy concerns, overcoming limitations associated with traditional models.

Regarding innovation in products/services, Akindeinde states that RAG integration supports the development of novel offerings, driving growth and diversification.

These opportunities align with industry trends and demonstrate NeuRaL AI’s commitment to value-driven technological innovation.

BionicBox caters to enterprises facing choices between open-source, Cloud API, or in-house development. It optimizes high-performance models like Llama 2 7 and 70B for enterprises requiring fine-tuning.

The on-premise solutions prioritize enhanced security and control, mitigating risks linked to cloud-based services.

Described as a significant leap forward, BionicBox offers a flexible, secure, high-quality alternative to traditional generative AI, tailored to unique business needs.

Akindeinde emphasizes that it addresses key challenges in inference speed, pretraining, fine-tuning, privacy, and RAG, bringing cutting-edge language modeling to industries in need.

 

Lars Johannisson assumes the role of Chief Executive Officer at Rack Centre

Tosin Ranks
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Lars Johannisson assumes the role of Chief Executive Officer at Rack Centre

Rack Centre, acclaimed as West Africa’s premier Carrier and Cloud-neutral data centre, proudly introduces Lars Johannisson as its new Chief Executive Officer, effective January 2024.

Mr. Johannisson, a seasoned leader in transformative industries, brings a wealth of experience to the role, as noted by Jasper Lankhorst, Rack Centre’s Group CEO.

Jasper Lankhorst expresses excitement about Lars’s appointment, anticipating that his strategic leadership will propel Rack Centre to new heights.

Lankhorst has full confidence in Lars’s ability to guide the company towards continued success and eagerly anticipates collaborating closely with him to solidify Rack Centre’s position as a leading data centre provider.

In his own words, Lars Johannisson highlights Rack Centre’s market leadership and its pivotal role as a Carrier and Cloud-neutral Tier-III Data Centre in Nigeria.

He expresses dedication to contributing to the digital ecosystem’s growth in Nigeria and is thrilled to be part of the team launching a cutting-edge, hyperscale-ready 12MW data centre facility in Lagos in 2024.

Lars, with a background in Telecom, IT Delivery, Managed Services, and Digital skilling, has a passion for leading transformative organizations in Africa. Over the last 14 years, he has executed large B2B projects in more than 30 Sub-Saharan countries.

Holding an MBA from the Stockholm School of Economics and having completed the Stanford University Executive Program on “Design, Innovation and Business Transformation,” Lars is well-equipped for his new role.

Before joining Rack Centre, Johannisson served as the CEO of Teleperformance in Sub-Saharan Africa and held significant roles at Ericsson, SolarNow, and the YNV Group.

Rack Centre, with over 64 telecom carriers and global Tier 1 networks, achieved a notable milestone as the first International Finance Corporation (IFC) EDGE certified data centre in Europe, the Middle East, and Africa, earning recognition as the first Green Certified Data Centre in Africa.

Rack Centre, established in 2012, offers best-in-class colocation services, boasting a robust Carrier and Cloud-neutral ecosystem.

The company’s commitment to Carrier and Cloud neutrality empowers customers to optimize traffic, ensuring better value, lower latency, higher resilience, and fostering an open market for collaborations.

For further details, visit [Rack Centre’s official website](https://rack-centre.com/)

Media Contact:
Frances Eza
Head, Marketing and Communications
Rack Centre
Email: frances.eza@rack-centre.com

 

Fans celebrate as Kollington dispels rumors of his demise

Tosin Ranks
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Fans celebrate as Kollington dispels rumors of his demise

Renowned fuji singer Ayinla Kollington recently dispelled rumors of his demise, addressing the public from his hospital bed at Lagos State University Teaching Hospital.

 

In a viral video dated January 23, 2024, the artist, also known as Kebe-n-Kwara, expressed gratitude to Governor Babajide Sanwo-Olu, LASUTH staff, and the leadership of Adetokunbo Fabanwo.

Fans, like Agboola, Owoyemi, and Jewel Jumoke, wished him a speedy recovery, with Laimi noting his VIP ward and expressing relief at the quality treatment.

Wale Adenuga extends congratulations to the newly appointed officials in the culture and creative economy sector

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Wale Adenuga extends congratulations to the newly appointed officials in the culture and creative economy sector

WAP Group’s management, encompassing Wale Adenuga Productions, wapTV, and PEFTI, extends hearty congratulations to President Bola Tinubu’s 11 appointees in agencies under the Federal Ministry of Art, Culture, and Creative Economy,

 

The Chairman, Wale Adenuga, expresses confidence in the appointees’ abilities, wishing them success in their new roles and anticipating the ongoing advancement of Nigeria’s arts, culture, and creative economy.

 

Why I chose not to end my marriage with my husband – Jaiye Kuti

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Why I chose not to end my marriage with my husband – Jaiye Kuti

Actress and filmmaker Jaiye Kuti recently stirred conversation by revealing her own struggles in marriage, expressing the desire to leave her marital union on three occasions.

 

Despite this, in a recent interview with Saturday Beats, she emphasized the importance of understanding and forgiveness in overcoming marital challenges.

Kuti underscored that love alone is insufficient and that spouses must recognize their shared humanity, acknowledging that mistakes are inevitable.

She highlighted the necessity of forgiveness for a marriage to endure, citing her own experience of being married for over 20 years.

Kuti also debunked the notion that religious beliefs could shield marriages from challenges, asserting that facing difficulties is inherent in marital relationships, regardless of one’s faith or lack thereof.

Burna Boy, Davido, Tems, and other artists gain international acclaim

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Burna Boy, Davido, Tems, and other artists gain international acclaim

Several Nigerian entertainers, including Burna Boy, Asake, and Rema, have received international award nominations for their remarkable contributions to the entertainment industry.

Notably, Burna Boy and Asake found themselves in the ‘Best International Artiste’ category at the 2024 Britz Awards, while Rema’s hit song, ‘Calm Down,’ secured a nomination for ‘Best International Song.’

Ayra Starr and Omah Lay also secured individual nominations, and Asake and Olamide jointly earned a nomination for their collaboration on ‘Amapiano.’

Burna Boy and Davido earned multiple nominations at the 2024 NAACP Image Awards, with Burna Boy receiving five nods, including ‘Outstanding Male Artiste,’ ‘Outstanding International Song,’ and more.

Davido, on the other hand, received four nominations, encompassing categories like ‘Outstanding Music Video/Visual Album’ and ‘Outstanding Male Artiste.’

 

Meanwhile, Tems, nominated for ‘Outstanding Female Artiste,’ is set to be honored at the 2024 Billboard Women in Music Awards.

In a separate achievement, two Nigerian films, namely ‘Mojisola’ and ‘This is Lagos,’ directed by filmmaker Kenneth Gyang, have been chosen to feature in the upcoming 2024 Pan African Film Festival in Los Angeles from February 6 to 19, 2024.

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