3Line Card Management, one of the leading innovative fintech company in Africa, is set to launch ‘SUSUBYU’, a digital saving product modelled on the traditional informal thrift savings.
According to the fintech firm, SUSUBYU is one of the products of its ‘Freedom Network’ in partnership with commercial and Microfinance banks.
The Freedom network is a CBN licensed super-agent offering financial services through its agents across Nigeria.
The product was created as part of its unswerving commitment to provide seamless access to financial services for the unbanked. 3Line leverages technology to foster a safe, easy, robust, and efficient contributory savings scheme popularly known as Esusu,
Adashe, & Ajo across Nigeria with ‘SUSUBYU’.
The product also enables customers to access microloans instantly upon meeting the set criteria.
Sibigem Chibuzor, Operations Manager, 3Line, reiterated that 3Line is keen on impacting the people at the grassroots positively: making financial service conveniently available to them.
Chibuzor said “It has always been our goal to reach the people at the grassroots to add sustainable value to their lives using technology. With our Freedom Network we develop platforms that allow the unbanked easily access basic financial services such as cash-in/cash-out, funds transfer, bill payments, savings and more. Thus, financially included.”
He further asserted that SUSUBYU was a response to customers’ needs.
However, the Central Bank of Nigeria, (CBN) in 2018, licensed 3Line to operate as a super-agent in Nigeria’s financial services system in order to boost financial inclusion in Nigeria.
The sole purpose of the Freedom Network is to tackle the challenges hindering financial services and inclusion in Nigeria.
3line intends to create more jobs by recruiting agents across the country. It aims to establish a network of 50,000 active agents across the country within 5 years.
“Currently, we have over 2500 registered agents with kiosks in operation across the country. We plan to create a network of 50,000 active agents by the year 2024. This will not only drive financial inclusion but also provide jobs for the people.” Chibuzor concluded.
The company’s infrastructure processes transactions across multiple electronic channels. 3Line focuses on four key areas: Card scheme (Freedom Card), Transaction Switching, Processing, Branchless banking and bespoke electronic payment application development.
”Technology” Dubai Creates Its Own Rain To Arrest Severe Heat Season
The United Arab Emirates is creating its own rain using drones that fly into clouds and unleash electrical charges to beat the sweltering 50 degrees Celsius heat, the Daily Mail of UK has reported.
The rain is formed using drone technology that gives clouds an electric shock to ‘cajole them’ into clumping together and producing precipitation.
The UAE is one of the most arid countries on Earth, and it hopes the technique could help to increase its meagre annual rainfall.
And it is working. Video footage released by the UAE’s National Center of Meteorology shows monsoon-like downpours across the country which create a sheet of rain on the highways.
Waterfalls are also seen on the side of roads as drivers in SUVs struggle to navigate the torrential rain – despite the country being in the middle of a summer heatwave where temperatures have soared above 122F (50C).
The Center said the precipitation has been enhanced by a technique known as cloud seeding, and its purpose is to increase condensation in the hope that it might trigger a downpour.
The UAE’s cloud seeding operations are part of an ongoing $15 million (£10.8m) mission to generate rain in the country, which ranks among the world’s top 10 driest countries with an average rainfall of just three inches (78 millimetres) – 15 times less than what falls in an average year in the UK.
The rain is being created using drone technology in research led by experts at the University of Reading in the UK.
Professor Maarten Ambaum, who worked on the special project, told the BBC earlier this year that the UAE has enough clouds to create conditions which allow for rainfall.
The technology uses a drone to release electrical charges into the clouds, which helps the water droplets to merge and stick together to form precipitation, ‘like dry hair to a comb’.
‘When the drops merge and are big enough, they will fall as rain,’ Professor Ambaum said.
Alya Al-Mazroui, director of the UAE’s rain-enhancement science-research program, told Arab News in March: ‘Equipped with a payload of electric-charge emission instruments and customised sensors, these drones will fly at low altitudes and deliver an electric charge to air molecules, which should encourage precipitation.’
In 2017, the UAE government provided $15m for nine different rain-enhancement projects.
Among them is another cloud-seeding technology which launches salt missiles into clouds from planes.
The country’s Abu Dhabi-based forecasters monitor weather radars to tell pilots flying official government aircraft when to take off on rain-inducing missions.
‘As soon as they see some convective cloud formations, they launch us on a flight to investigate,’ said Mark Newman, deputy chief pilot at NCMS.
Speaking from the airbase that houses the four Beechcraft King Air C90 aircraft that are used for the country’s cloud seeding programme, Mr Newman said the team would then attempt ‘to seed the cloud’ if the conditions were right.
Mr Newman said summer is usually the busiest season for the missions.
At that time clouds form over the eastern Al-Hajar mountains which deflect the warm wind blowing from the Gulf of Oman.
The strength of the updraft determines the number of ‘salt flares’ fired as the plane explores the base of the forming cloud.
‘If we’ve got a mild updraft, we usually burn one or two flares. If we’ve got a good updraft, we burn four, sometimes six flares into the cloud,’ he said.
Not every cloud they seed produces rainfall, but they often do, according to Mr Newman.
‘It is fantastic… As soon as there is rain, there is a lot of excitement. We can hear the guys in the office are happy,’ he said.
Whether cloud seeding is effective at increasing rainfall, however, is still under investigation.
Many scientists doubt whether it has a noticable impact on rainfall levels.
US ski resorts in Colorado, however, reportedly use the method to induce heavier snowfall.
It was also used ahead of the 2008 Beijing Olympics opening ceremony to create a downpour elsewhere and keep the stadium dry.
This involved firing rockets packed with silver iodide crystals into rain clouds over the suburbs of Beijing.
Vintage Confluence Assures On Lightning-Speed Transactions, Calls For ICT Innovations
Leading global Bitcoin trading company, Vintage Confluence LLC has assured her existing and prospective clients of lightning-speed transactions that would ease their burdens and eradicate the delays that pose a threat to their bitcoin business transactions.
The company’s Chief Executive Officer, Precious Aire, gave the assurance on Thursday while delivering his speech at the 2021 edition of the NITRA Technology Forum, which is organized annually by the Nigerian Information Technology Reporters Association (NITRA) where he was ably represented by the company’s media consultant, Patrick Aigbokhan.
The event, which was themed, ‘Achieving 30% Growth in Local Cloud Hosting By 2024’ was held at the Prestigious Citiheight Hotel, Ikeja, Lagos.
Aire also emphasized the need for enhanced technology innovations that will boost initiatives in the ICT industry.
He said, “Vintage Confluence as a company has been able to explore the required technology innovations to solve the bitcoin trading problems that formed the bane of smooth trading for investors over the years.
“We offer lightning-speed transactions taking just 10-30 minutes every 24 hours of the week in regular circumstances. We even could do better if we find a more efficient web hosting system.
This is the reason we embrace this forum because it tends to address an innovation that calls for the achievement of speedy online trades.”
While expressing his view over the possibility of Nigeria’s ICT industry achieving 30 percent growth in local cloud hosting by 2024, the Vintage Confluence CEO said, “What makes the global village? It is nothing other than technology innovations. And for the intentions of the global village to thrive, there is a dire need for re-iterating and addressing the adoption of Cloud hosting, which now happens to become sacrosanct in the daily movement of data usage in the present global business world.
Cloud hosting is a type of web hosting which uses multiple different servers to balance the load and maximize uptime. Instead of using a single server, your website can tap into a “cluster” that uses resources from a centralized pool. This means that even if one server fails, another kicks in to keep everything running.
“So, I am strongly optimistic that 30℅ growth in local cloud hosting by 2024 is achievable in Nigeria. And when this happens, what do we expect of a company like Vintage Confluence whose dedicated service depends on the quality of network efficiency for speedy response communication to the need of our clients? For us at Vintage Confluence LLC, we are a leading global organization that offers solutions to Bitcoin Holders who need to sell their Bitcoins in exchange for instant cash in Nigeria and South Africa.
“Our company’s mission is to provide traders with the most comprehensive web-based trading platform available with no hassle or verification. We are recognized as the most reliable, fastest and cheap e-currency exchanger with collective experience dating back to the origin of Bitcoin.
No other platform offers a mix of security with convenient transparency, trust, honesty, and customer service like Vintage Confluence does.
“As a company that only buys and not sells Bitcoins, we have been an active leader and certified vendor in the cryptocurrency industry since 2019, and our company has been able to provide amazing exchange rates and quick execution of payment from small orders to large orders. This platform provides a seamless interface between the trader and Vintage Confluence as its Vendor.”
Aire also noted that his company has been devoted to the constant revolution of the company by listening to its users and enhancing its product mix to satisfy their requirements.
Vintage Confluence is committed to providing an exceptional customer experience in building a long-term relationship with both existing and prospective clients.
“Every day, thousands of users around the world use Vintage Confluence LLC, and they have become our best advertisers.
With our minimum trade acceptance of $1000 USD worth of Bitcoin, customers receive immediate payment into their bank accounts on transactions, which makes trading with our company an experience to always remember.
“If you need to know further about us and our services, please visit our website www.vintageconfluence.com or follow us on Instagram @vintage.llc, and LinkedIn: Vintage Confluence LLC.
At Vintage Confluence LLC, we are the grandmasters of trading Bitcoins,” he added.
Reps Probe Expatriate Quota Abuse in Telecoms Sector
The House of Representatives has mandated its Committees on Telecommunications and Interior to investigate the alleged expatriate quota abuse in the telecoms sector and report back within six weeks for further action.
This is sequel to the unanimous adoption of a motion moved at the plenary on Tuesday by Mr Bello Shinkafi, titled ‘Need to Investigate the Abuse of Expatriate Quota by Telecommunications Equipment Vendors and Service Providers in Nigeria.’
Moving the motion, Shinkafi noted that the Immigration Act 2015 and the Immigration Service Regulations 2017 are the principal laws governing the employment of expatriates in Nigeria, while the principal regulatory bodies are the Nigerian Immigration Service and the Federal Ministry of Interior.
The lawmaker also noted that the law empowers the NIS to, from time to time, issue entry permits and expatriate quota to foreigners who intend to work in Nigeria for specifically approved jobs and for a specific period, with a view to training Nigerians and transferring their requisite skills during their period of employment.
According to him, expatriate quota may be granted for an initial period of three years and can be renewed further for a period of two years, subject to a total life span of 10 years within which such relevant skills ought to have been transferred to Nigerians understudying such expatriates.
Shinkafi noted a clause in the expatriate policy which provides for two Nigerians to understudy an expatriate, to promote the transfer of knowledge and technology. “However, some of those foreign companies have taken advantage of this clause in active connivance with the Nigeria Immigration Service and other agencies to bring as many of their nationals as possible, sometimes illegally, in gross disregard for the law,” he said.
Shinkafi stated, “The House is worried that the abuse of expatriate quotas by those foreign companies is not deemed a national security issue by the Federal Government, particularly so at a time of record of youth unemployment and the age of terrorism.
“The House is concerned that the practice of expatriate quota abuse was initially restricted to the oil and gas sector but has now been extended to the telecommunications sector in which there is a surfeit of local skills, many of the expatriates still retain their employments after their permits had expired and not been renewed as required by law.
“The House is also concerned that the expatriates enjoy unimaginable pay and privileges, while their Nigerian counterparts are paid less and treated with disdain in their own country and many competent Nigerians lose their jobs and the country loses multi-million dollars annually.”
He stressed that the expatriate quota guides against the indiscriminate employment of expatriates where there are qualified Nigerians who can fit into those positions.
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