Ict/Telecom
YahClick Partners GCES For 9mobile Satellite Connectivity
YahClick, the leading satellite broadband service from global operator Yahsat and its partner Hughes Network Systems, have signed a strategic partnership with Global Communications Extension Services Limited (GCES) to provide satellite connectivity for 9mobile.
YahClick’s partnership with GCES will bring satellite connectivity to hundreds of cellular backhauling sites, delivering 9mobile with a reliable and robust means of rural connectivity across its entire Nigerian operations.
All three businesses complement each other to provide high-performing and cost-effective mobile network services to citizens in Nigeria.
YahClick’s satellite services now reach more than 60 per cent of the population in Africa, and the agreement with GCES extends the company’s reach to more regions within Nigeria.
The introduction of satellite services within rural and unserved areas will also positively impact the economy of the country as it strengthens Nigeria’s policy of financial inclusion championed by the Central Bank of Nigeria.
Money vendors operating Point of Sale (POS) services and other merchants in these areas will benefit from the availability of broadband connectivity and increased financial transactions resulting in greater profitability therefore raising their standard of living.
This partnership has made it possible to overcome the barriers of remote connectivity thanks to satellite back hauling option which makes it feasible to offer cellular services in areas that are prohibitively expensive to reach using traditional terrestrial means.
In signing this agreement, YahClick and GCES will work to support 9mobile in providing its high-quality telecommunication services to individuals across Nigeria.
With the addition of YahClick’s reliable satellite connectivity solutions, this partnership will ensure that citizens throughout the country have access to secure, affordable connectivity options nationwide.
CEO YahClick Farhan Khan said: “Our partnership with GCES provides trustworthy, accessible and affordable broadband connectivity for one of Nigeria’s leading networks of choice — reiterating our commitment to advancing the country’s connectivity infrastructure.
“Our agreement unites three companies in working shoulder to shoulder to bridge the digital divide while enabling residents and businesses to realise their potential.
“As we expand further in Africa, this is another example of the power of collaboration with industry peers that share our vision of advancing humanity.”
Chief Technical Officer of GCES, Adamu Babadisa, added: “For years we have worked with all major telecommunication firms in Nigeria and overall Africa by providing professional quality services to the African telecommunication industry.
“This latest partnership will allow us at GCES to introduce 9mobile to the latest telecommunication applications, equipment, and IT infrastructure we provide to help sustain their mobile network operations.
“This partnership will not only eliminate the barriers to mobile internet adoption within remote regions in Nigeria but also improves the citizens’ access to affordable devices, data plans and opportunities which arise from staying connected.
“This is a step closer to uplifting the marginalised communities that live in unserved and underserved regions not to mention the socioeconomic benefits that come with sighting of such infrastructure in terms of job creation and economic prosperity of these communities.”
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter