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African Entrepreneur, Mahmood Ahmadu, Receives Forbes ‘Best of Africa’ Award2 minutes read

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Mahmood Ahmadu, the founder of Africa’s leading multi-business IT conglomerate – Online Integrated Solutions – has been honoured as one of Africa’s best by Forbes.

Ahmadu was one of the three business leaders presented with the Forbes Best of Africa Award for 2020 in a virtual ceremony held on September 11.

Ahmadu received the award in recognition of several philanthropic activities he has led and contributed to – in a personal capacity as well as through corporate social responsibility initiatives.

The ceremony was part of an online roundtable supported by the World Philanthropy Network and will feature a keynote address by former Nigerian President, Olusegun Obasanjo.

Forbes Custom’s Awards Committee has followed Ahmadu’s remarkable business career, for some years now. However, this award is in particular recognition of his transition, from prominent African businessman to one of the continent’s most significant philanthropists.

Ahmadu has championed several empowering initiatives and social causes, over the years – including scholarships to China for African students, mentoring programmes for outstanding young academic talent and contributions to the Diabetes Association – in addition to several on-going donations that have benefitted individuals and charitable institutions.

A serial entrepreneur, with a penchant for introducing tech-driven innovations to the market, Ahmadu first came to prominence in the early 80s, as a leading light among earlier pioneers in GSM technology, in northern Nigeria. Since then his varied ventures have spanned industries such as mining, real estate, construction, agriculture, e-education, e-healthcare, finTech and more. Ahmadu’s business interests currently span across 53 countries and five continents.

Ahmadu has previously been the recipient of several national and international awards – including UK’s first Empowering Communities Award, the Nigerian Economic Development Award 2016, Officer of the Order Of Niger Award, and more.

Thanking Forbes for their recognition of his commitment to social causes, he reiterated his commitment to continue creating a positive impact on African communities.

“I’m humbled to be named one of the recipients of the Forbes Best of Africa Awards 2020”, Ahmadu said.

“I’m touched by the fact that this award is as much in recognition of giving back to the community, as it is for business innovation and professional success. This honour is also an acknowledgement of the many talented and passionate individuals who are part of my team. It will be a huge motivation for us to continue on our mission to create an African IT conglomerate to rival the best in the world, while also being mindful of giving back and empowering the community,” he said.

A proponent of the use of technology to empower individuals, Ahmadu is a business leader working on ushering in a future of democratised, quick and easy access to mission-critical services. His entrepreneurial journey is entwined with the larger vision of creating state-of-the-art infrastructure for African governments, communities and individuals.

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Court Grants Former Bosasa COO, Angelo Agrizzi, bail

Former Bosasa COO Angelo Agrizzi was denied bail in his corruption and bribery case

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Former Bosasa chief operating officer Angelo Agrizzi has been granted bail by the Gauteng High Court in Johannesburg on Friday.

Agrizzi was denied bail earlier on October 14 by the Specialised Commercial Crime Court sitting in the Palm Ridge Magistrate’s Court. He appealed against Magistrate Phillip Venter’s ruling.

On Friday, Judge Ratha Mokgoatlheng averred that the court in Palm Ridge misdirected itself both in fact and law.

Agrizzi has been detained for two weeks after the Palm Ridge Specialised Crimes Court denied him bail.

Agrizzi is facing fraud and corruption charges. He stands accused of bribing influential individuals, including Vincent Smith, the then chairperson of Parliament’s correctional services committee.

Agrizzi has been detained for two weeks after the Palm Ridge Specialised Crimes Court denied him bail

Earlier this month, Agrizzi was moved from the Johannesburg Prison to a private hospital over breathing issues. Agrizzi was hospitalised, allegedly on ventilators after going into cardiac arrest while in custody.

The National Prosecuting Authority’s Investigating Directorate accused Agrizzi of lying in his previous bail affidavit last year.

He told the court that he and his wife’s moveable assets were valued at R2.6 million when in fact they amount to over R30 million.

On Monday, Agrizzi’s lawyers declared his doctors were finding it difficult to treat him because he is chained to a bed and there were too many armed guards in his ward.

They demanded that he be released on bail because he is at high risk of contracting COVID-19 due to his pre-existing chronic medical condition.

His lawyers argued that his denial of bail was unfair because he had so far cooperated with investigations, the state capture commission, and has no prior convictions.

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Nigeria Records Highest Power Transmission of 5,459.50MW

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The Transmission Company of Nigeria (TCN) says the power sector has recorded an all-time national peak of 5,459.50MW.

A statement issued on Thursday by Ms Ndidi Mbah, TCN General Manager, Public Affairs, said the new record was achieved on Oct. 28.

The statement said the power generated was efficiently transmitted through the nation’s transmission grid at a frequency of 50.26Hz by 8.15pm on the said date.

According to the statement, this milestone in transmission is higher than any peak ever recorded in the nation’s power industry as of date.

It said the new peak surpassed the 5,420.30MW achieved on Aug.18 by 39.20MW.

Reacting to the development, Mr Sule Abdulaziz, acting Managing Director, TCN, commended all the players in the power sector value chain for the feat.

Abdulaziz attributed the gradual but steady improvement in the quantum of power delivery to collaboration by the sector players.

He added that the unbridled effort by the Federal Government, through the Ministry of Power, in setting the right environment for seamless operations contributed to the feat.

Abdulaziz expressed optimism that stakeholders in the sector would continue to work together toward ensuring the continued increase in the quantum of power available to consumers nationwide.

He noted that the TCN was committed to working with the generation and distribution companies to ensure sustained improvement in the sector for the benefit of the nation.

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Sterling Bank Launches Free Money Transfer Service For Nigerians In Diaspora

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Sterling Bank Plc has launched ‘Switch’ – “a free money transfer service” -for Nigerians in diaspora.

Switch, the bank says, will help to promote financial inclusion, international banking and allied services for diaspora Nigerians.

Mr Shina Atilola, Sterling Bank’s Divisional Head, Retail and Consumer Banking, in a statement on Wednesday, said that Switch is a zero per cent transaction charge offer, which further demonstrates the bank’s commitment to making cross-country banking accessible to all Nigerians abroad.

According to Atilola: “Switch users will be able to fund their account for free when using their Naira Debit Card and they will enjoy free service charge when they fund their Switch account using foreign bank cards for six months at the first instance.

“Switch enables the processing of everyday banking and financial services such as the payment of bills, funds transfer, payment requests, investments, asset financing and insurance services, among others, in their preferred currencies.

“Over the years, Nigerians in the diaspora have often had difficulties funding their Nigerian bank accounts using international bank cards due to high charges, and inability to perform seamless online transactions without recourse to the bank or its agents for money exchange, among others.

“Switch will benefit the customers’ desire for a convenient banking that gives more value, adding that some of the benefits include currency swap, access to asset financing diversified investment offerings and protection from mishaps with various insurance packages.

“Switch provides customers with the added value of asset financing, investment and insurance opportunities at better rates,” he said.

Atilola explained that the new product is a mobile app and is available on Android and IOS stores.

Switch, a multi-service platform, has been approved by the Central Bank of Nigeria (CBN) and funds domiciled in the Bank via the App are insured by the Nigeria Deposit Insurance Corporation (NDIC).

He noted that though Switch is designed for Nigerians in the diaspora, and can be operated from any part of the world, it is, however, only accessible to users in the United Kingdom (UK), United States (US) and Canada at the moment.

“The plan is to expand to other countries of the world where Nigerians reside,” he added.

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