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Read Why Rwanda, Singapore Are Partnering On FinTech

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The Forum aims to act as a catalyst for Kigali International Financial Centre (KIFC), Rwanda’s financial centre facilitating international investment and cross-border transactions in Africa, and Elevandi a company set up by the Monetary Authority of Singapore (MAS) to advance FinTech in the digital economy, today announced the launch of the first annual Inclusive FinTech Forum, to be held from 20 to 22 June in Kigali, Rwanda.

Global regulators, policymakers, decision-makers, founders, and investors will gather for three days of discussions on inclusive and sustainable FinTech, primarily focusing on the Global South, stretching from Africa to Latin America and Asia.

The Forum aims to act as a catalyst for financial inclusion and FinTech for Good by promoting technology and policy conversations that will enable FinTech development to become more equitable, accessible, and sustainable to all people of the world. This also includes developing and promoting public goods, infrastructure, and financial literacy.

The Forum will comprise a variety of dialogues and formats to spark debate and ideate solutions for inclusive finance globally.

Main stage sessions will feature keynotes by government and industry leaders as well as discussions with thought leaders.

Industry and Ecosystem stages will focus on topical sessions on Payments, Credit, Financial Services, Risk Products, Capital Market Infrastructure and ESG Products.

Elevandi’s signature programmes;

○ The Elevandi Insights Forum will host deep-dive roundtables with public and private sector organisations to address challenges faced by the financial sector and drive key actionable outcomes;

○ The Founders Peak will feature 10-minute talks from founders, giving participants a valuable opportunity to learn from the experiences of successful founders;

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○ The Capital Meets Policy Dialogue will bring together policymakers, regulators, and investors to share perspectives on FinTech regulation and investment capital allocation.

● A curated space for exhibitors, industry workshops, mentorship sessions, and a talent pavilion.

Sopnendu Mohanty, Chief FinTech Officer of MAS and Chairman of Elevandi Board, said, “The Forum comes at an imperative time when FinTech is in the optimal position to contribute to global causes, given its place at a critical junction of finance and technology; however, its promise is still a work in progress for making finance accessible to all people of the world. The Forum will accelerate inclusion and impact conversations to make FinTech more accessible. It will serve as building blocks for future dialogues such as the Point Zero Forum, which will be held the week after this Forum.”

Tidjane Thiam, Board Chairman, Rwanda Finance Limited, the agency mandated to promote the Kigali International Financial Centre, said, “We are pleased to host the first annual global Inclusive FinTech Forum here in Rwanda bringing together important decision-makers in the FinTech Industry in Africa and globally. FinTech, at the crossroads of Financial Services and Technology, has a unique ability to transform lives, particularly in emerging and developing countries. It can empower the most vulnerable in society by giving them access to financing and allowing them to achieve financial independence. It can also contribute to the growth and expansion of successful African SMEs to provide much-needed goods and services to consumers in Africa and beyond. This event is a unique opportunity to enrich the African FinTech landscape and position KIFC as the new fast-growing hub for FinTech.”

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Source: APO Group / Elevandi

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Uba Sani: Least Paid Worker In Kaduna Earns N72,000

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Uba Sani, governor of Kaduna, says no worker in the state earns less than N70,000 as salary in compliance with the new minimum wage.

Sani spoke on Thursday at Murtala Square in Kaduna on occasion the Workers’ Day celebration.

The governor said the least paid worker in the state earns N72,000, noting that he believes in the dignity of labour, adding that the issue of incremental adjustment of salaries would be addressed soon.

“I have been involved in the struggle for labour rights, workers’ rights. That is my antecedent. Because of my background, I sat down with the leadership of the Nigerian Labour Congress (NLC),” Sani said.

“I made it clear to them that though we have met the minimum wage requirement but there is something called incremental adjustment which is discretionary.

“Because of my relationship with both NLC and TUC, I asked them that we should sit down and come up with a formular that will make every worker in Kaduna state happy, irrespective of his or her status and they came up with three different options.

“Today, I want to reaffirm to all of you here that by the grace of God, we will look at the incremental adjustment and ensure that even senior civil servants will benefit because we have to make our workers happy.’’

The governor added that his administration also prioritises improving the living conditions of pensioners.

He said the state government has released N3.8 billion to settle outstanding gratuities, death benefits, and accrued rights under the contributory pension scheme in April.

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“Since the inception of our administration, we have cumulatively paid the sum of N10.4 billion in gratuity, death benefits, and accrued rights in the Contributory Pension Scheme,” Sani said.

The governor said the payment of such a huge sum to pensioners is “unprecedented.”

Commenting on the ongoing industrial action by the Kaduna State University branch of the Academic Staff Union of Universities (ASUU), Sani said his administration has done everything to reposition the school.

According to him, more than 60 percent of the courses were not accredited when he assumed office, but his administration spent over N300 million to secure National Universities Commission (NUC) accreditation.

The governor said the striking lecturers’ demands had accumulated over 17 years, with about three of his predecessors unable to settle the liabilities, which now total between N5 billion and N6 billion.

“In spite of this, the lecturers want us to settle these liabilities now, and I said no. I said that we have to sit down and have a dialogue. I then asked them, where were their voices in the last 17 years?” he said.

He promised that the problem would be addressed owing to the importance of education, which he described as the “greatest leveller”.

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PETROAN Asks FG To Prioritise Welfare Of Oil, Gas Workers

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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked the government to prioritise the welfare of oil workers, given the hazardous nature of their work.

In a statement on Thursday, Billy Gillis-Harry, PETROAN’s president, hailed oil and gas workers across the country on Workers’ Day.

According to Joseph Obele, PETROAN’s spokesperson, Gillis-Harry, while addressing journalists in Abuja, appealed to the government and stakeholders in the industry to improve welfare packages and expand health insurance for oil workers.

“Studies have shown that workers in areas where gas flaring is prevalent are at high risk of several health challenges, which can affect them physically, mentally and even increase cancer risks,” Gillis-Harry was quoted as saying.

The association said gas flaring remains a serious problem in Nigeria’s energy industry, exposing workers and nearby communities to harmful health and environmental effects.

The group said the impact of gas flaring highlights the urgent need for better health protection and general welfare for those working in the sector.

According to the statement, Gillis-Harry urged regulatory bodies to strictly enforce existing laws aimed at stopping gas flaring in the country.

“It’s imperative that we prioritise the health and well-being of our workers and protect the environment from the harmful effects of gas flaring,” the president said.

The spokesperson said PETROAN believes ending gas flaring would reduce its harmful impact on workers and host communities and help build a more responsible oil and gas industry.

Obele said PETROAN commended governors who have started paying the new minimum wage, especially those paying above the set rate.

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“Billy Gillis-Harry called on governors who are yet to comply to do so in the shortest possible time, emphasising the need for workers to receive fair compensation for their labour,” he said.

He said the association also reaffirmed its commitment to collaborating with stakeholders to support oil and gas workers and ensure safe and healthy working environments.

Obele said PETROAN is of the view that better welfare and an end to gas flaring would boost productivity, reduce accidents, and raise performance across the industry.

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MTN Nigeria posts N1trn revenue surge

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MTN Nigeria Communications Plc generated N1.0 trillion in service revenue in the first quarter of 2025.

This marks a 40.5 per cent increase from the N752.99 billion earned in Q1 2024.

The company confirmed this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday.

Profit after tax dropped by 134 per cent, falling to N133.7 billion from N392.7 billion in the same period of 2024.

Its total subscriber base grew by 8.2 per cent to 84.1 million, with 3.2 million new additions in Q1 2025.

Active data users rose by 13 per cent to 50.3 million, following the addition of 2.6 million users.

EBITDA climbed 65.9 per cent to N492.7 billion, while EBITDA margin improved by 7.2 percentage points to 46.6 per cent.

The company recorded free cash flow of N209.9 billion and earnings per share stood at N6.38.

MTN Nigeria CEO, Karl Toriola, expressed satisfaction with the Q1 2025 results, citing strong strategic execution and resilient service demand.

He said momentum from Q4 2024 had helped put the firm on track to restore profitability and achieve a positive net asset position.

He added that regulatory approval for price adjustments was essential to sustain investment and maintain service quality.

This approval enabled N202.4 billion in capital expenditure, up 159 per cent, aimed at expanding capacity and enhancing user experience.

Toriola said the 40.5 per cent growth in service revenue underscored strong demand and commercial discipline.

He noted that Q1 results do not yet reflect the full impact of price changes made late in the quarter. (NAN)

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