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Home Blog Page 7435

Kenyans like mobile money even those living outside Kenya

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To mark the 10th anniversary of ground-breaking mobile money service M-PESA, WorldRemit has released new data showing that the Kenyan diaspora is the biggest sender of digital remittances to mobile accounts.

Transfers to mobile money accounts make up 93% of WorldRemit transactions to Kenya now – showing that Kenyans continue to be early adopters of innovative technology, even when abroad.

Mobile money has played a key role in the growth of WorldRemit’s Kenyan customer base, attracted by the low price, speed and convenience of sending instant remittances from the app or website directly to a mobile phone in Kenya.

  • In January 2017, WorldRemit customers transferred more than $140m (at annualised rate) to Kenya, making WorldRemit one of the largest remittance companies serving the Kenyan diaspora.
  • Top remittance-sending countries are the UK, Australia, US, Germany, Canada and Nordic countries.
  • Around three million Kenyans live abroad, with large communities in North America, Europe and Australia.
  • Remittances play an important role in Kenya’s economy – inward remittances reached a record value of just under $161m in November 2016, according to the Central Bank of Kenya, making it one of the nation’s top earners.
  • WorldRemit is now connected to over a fifth of all mobile money accounts – 112 million of 500 million mobile money accounts around the world.
  • 74% of all international remittances to mobile money accounts coming from money transfer operators are sent via WorldRemit.

The company has pioneered mobile to mobile remittances, sending to 32 mobile money services in 24 countries – more than any other money transfer service.

Globally, WorldRemit customers send more than 580,000 transfers every month to over 140 destinations. WorldRemit makes sending money as easy as sending an instant message.

Ismail Ahmed, Founder and CEO at WorldRemit, comments: Kenya is famed for leading Africa’s digital transformation, and today it’s Kenyans abroad who are at the forefront of digitising international money transfers. Most of our Kenyan customers use our mobile app, demonstrating the strong demand for convenience when sending to friends and family.

“With half a billion registered accounts worldwide, mobile money continues to transform lives by allowing people to access financial services for the first time. WorldRemit customers now send more than 65,000 transfers to the country every month from the WorldRemit app and website with over 90% going to M-PESA”.

French pharmaceutical company Biogaran acquires Nigeria’s Swipha

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Biogaran, a French pharmaceutical company specialized in generic and biosimilar medicines, has announced the takeover of all the activities of Swipha, a Nigerian company that manufactures and distributes pharmaceutical products known for their quality.

In order to develop new markets to meet its commitment to provide all patients with quality medication, Biogaran, a pioneer in generics and biosimilars, and a subsidiary of Servier, has just taken over Swipha, a Nigerian pharmaceutical company that produces medicines to meet local health needs. Its portfolio is mainly focused on three families of products: anti-anxiety and tranquillizers, antimalarial drugs and antibiotics, which treat Nigeria’s most widespread infections and health issues.

Swipha was the first Nigerian pharmaceutical company to obtain ISO 9001 certification in 2007. Approved by the World Health Organization (WHO) in 2014, Swipha employs 300 people locally and generated record sales of NGN 4bn (approximately € 20 million) in 2012. Beyond its production unit, the company also has a wide distribution network covering most parts of Nigeria, Africa’s most dynamic country, with more than 184 million inhabitants in 2016 according to the IMF.

Health issues are particularly important in Africa. Beyond significant needs for good quality, affordable and efficient medicines, the problem of counterfeits is also becoming of concern. The WHO estimates that 100,000 deaths are due to fake medicines in Africa every year. In this context, supplying Nigeria’s population with reliable medicines that are produced locally is a strong commitment made by Biogaran.

How to Create an effective Fitness Workout Routine

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It is very good to keep fit (jogging, working out at home or the gym, eating healthy and so on) because of the many health benefits that come with it. But many a time, people start a fitness program with the thought that the journey to those fitness goals is going to be a rosy one. By the time they attempt some programs for one or two weeks, they lose enthusiasm because of the type of discipline and patience, in weeks of consistency, required in order to start seeing the results on their body, and therefore slump back to their old lazy, unhealthy-eating-habit, chubby selves.

The reality is keeping fit and getting results is not a day or a week’s job. You have to know right from the very beginning that it will need discipline and patience. To develop this discipline and patience, you should have as a guide, the following acronym called SMART:

1. S is Specific

Meaning you should have in mind what you wish to achieve with starting a fitness program: do you want to lose a certain amount of pounds in weight; develop your muscles; or improve your endurance level. Having a specific target will help keep you going on days when you’re likely not to be in the mood.

2. M is Measurable.

You should find ways to measure periodically, maybe weekly or every two weeks, the impact of your fitness program. It may be discouraging sometimes with little to no or even worsening results, but this helps you critically evaluate yourself to find out and correct what you might have done wrong in the preceding weeks as regards your fitness.

3. A is Attainable.

Before you begin your fitness journey, ensure you plan it in such a way that you will be able to faithfully adhere to the earmarked fitness activities, without regular impedance from your work schedule and other engagements you have on a daily basis. This means if you work till evening, you should have your fitness activities inserted in the early morning or late in the evening when you will have time to actually work out. Planning in this way and sticking to it will help you make your fitness activities a subconscious routine which is one of the best things that can happen to you.

4. R is Realistic.

Before starting out on that fitness journey, you must have realistic expectations; if your belly is ballooned out with fat, don’t expect to have six packs after one month of fitness activities. Instead, bear in mind that that belly fat will probably take months to burn before another work starts on toning your abdominal muscles to six packs. So, measure your waist circumference monthly and track and celebrate those tiny centimetres that disappear as a reduction in abdominal fat.

5. T is Transparent.

You should be able to share your fitness activities and the gradual progress you’re making with friends, colleagues and even with social media friends on a periodic basis. Being transparent in this case is not forcing you to share your fitness journey; it is more of a choice, but it can help keep you motivated to continue: friends encouraging you and those who may start looking up to your fitness journey and progress as an inspiration to start their own fitness journey.

You can get a kind of fitness diary where you can draw up a weekly schedule using the SMART guideline. You should be honest with yourself in the area of requirements needed for your fitness activities (going to the gym, waking up very early to jog, stopping unhealthy eating habits and so on), and possible constraints such as unplanned emergencies that may come up in your workplace or other engagements, taking extra hours or days and your fitness program in those periods.

There’s no rule on working out every day of the week. But try and make it at least 2 times a week. And don’t beat yourself or get discouraged when urgent work engagements mess up your fitness program day. Make up for it the next available time.

If you found this tip useful, don’t forget to share with your friends and family with the share button on the top right of this page.

For more advice and help, feel free to ask a Doctor on Kangpe.

This is how Nigeria’s Central Bank will check growing cyber crime in banks

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The Central Bank of Nigeria will be releasing a policy framework In a bid to check growing cyber crime in banks..The Chief Information Security Officers (CiSOs) of banks who disclosed this in a one week Nigerian Financial Sector Global Cyber Security Conference held at Transcorp hotel, Calabar, said with the Biometric Verification Number (BVN), “The idea is that when the framework comes out from CBN, the BVN will become a major tool to fight fraudsters. Our recommendation from this conference is that it should become an instrument to kick fraudsters out of the banking system. So those who defraud individuals in banks and other customers of banks, once the investigation proves that they are fraudsters, we believe that the other legal consideration will be taken care of by that framework”.

Giving a summary of the conference that attracted mostly Israelis and other nationals as trainers, the Leader of the CiSOs, Mr. Sam Okenye said, such framework “should become a major instrument to kick those guys out of the banking system.”

From the conference with over 95 participants drawn from various banks, Okenye said “what we noted is that low level of security awareness is a major challenge. Some customers divulge their sensitive information to fraudsters unknowingly. They put a call to them pretending to be calling from a bank and because customers have low-level awareness they disclose sensitive information and fall for fraud. So low security awareness is a challenge, which we are going to tackle as an industry, which is part of what we agreed here.”

The Modern Challenge of Cyber-Crime

Security experts agree that it’s only a matter of time before consumers wake up to find their bank accounts read $0 – the culprit being a well orchestrated “zero day” cyber-attack. And if recent events are any indication, it is likely to be one that originates out of Russia.

Russia has become a hotbed for financial crime. Even before the recent U.S. election hack, the most sophisticated Russian cyber-gangs have long targeted the U.S. banking system and its sensitive financial data. One gang stole tens of millions from Citi in 2009 and then breached Nasdaq in 2014. It was revealed this week that the UK’s best known banks, as well as BofA and Citi, have processed $740m in a massive Russian money laundering operation labeled “the Global Laundromat.”

In response to this golden age of cyber-crime, New York State has developed cyber regulations around network penetration testing and reporting for banks, insurance companies, and broker-dealers. Similarly, the UK’s Bank of England also launched its own, intelligence-led, testing framework to help financial firms prepare for the worst.

Nigeria is following this path with the plans from the Central Bank of Nigeria.

Cybersecurity Training

Banks and and other companies can take advantage of the training offered by the First Atlantic Cybersecurity Institute to provide top grade awareness programs to their staff. At the end of the online programs, the staff will have tools to ensure they have the right framework to prepare their customers for the challenges of cyber-crime.

First Atlantic Cybersecurity Institute (Facyber) is a cybersecurity training, consulting and research company specializing in all areas of cybersecurity including Cybersecurity Policy, Management, Technology, Intelligence and Digital Forensics. Facyber is based in United States. with Fasmicro as its Nigerian liaison.

The clientele base covers universities, polytechnics, colleges of education, governments, government labs and agencies, businesses, civil organizations, and individuals. Specifically, the online courses are designed for the needs of learners of any discipline or field (science, engineering, law, policy, business, etc) with the components covering policy, management, and technology.

Programs are structured as Certificate, Diploma and Nanodegree programs with deep resources to support Learners.   Please see complete Facyber catalog and detailed Table of Contents.

Learn about:
– Cybersecurity Policy (Certificate, Diploma, or Nanodegree)
– Cybersecurity Management (Certificate, Diploma, or Nanodegree)
– Cybersecurity Technology (Certificate, Diploma, or Nanodegree)
– Cybersecurity Intelligence and Digital Forensics (Certificate, Diploma, or Nanodegree)

Full Text of SSS Report on EFCC AG Chairman Ibrahim Magu (pdf)

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State Security Service (SSS) comprehensive report  (PDF) on EFCC AG Chairman Ibrahim Magu alleged corruption has been leaked. The report was released by a group, Advocacy Justice, which opposes the confirmation of Ibrahim Magu as substantive head of the Economic and Financial Crimes Commission.

It is a new seven-page letter by the State Security Service, SSS, expatiating on the corruption allegations against the anti-corruption czar.

The letter, which was circulated to select Nigerian journalists was written by the SSS to the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to further push its relentless campaign against Mr. Magu.

This was first reported by Premium Times.