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Asharami Synergy pledges support for downstream sector transformation in Kenya

Asharami Synergy’s operations in Kenya will be boosted by outcomes expected from the expansion drive by Sahara Group.

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Asharami Synergy Kenya, a Sahara Group Oil Marketing Company, has reiterated its commitment to working with all stakeholders to transform Kenya’s downstream sector for sustainable growth and regional competitiveness.

Debola Adesanya, Country Manager, Asharami Synergy, said the company would leverage its affiliation with its parent company, Sahara Group to join forces with relevant stakeholders in the energy sector to enhance capacity building, access to clean energy and sustainable development in Kenya. Sahara Group is a leading energy conglomerate with operations in over 40 countries across Africa, Asia, Europe and the Middle East.

“Asharami Synergy’s operations in Kenya will be boosted by outcomes expected from the expansion drive by Sahara Group with a strong focus on investment in technology, artificial intelligence, and human capital transformation in global markets. We expect to take full advantage of our affiliation with Sahara to enhance the energy value chain and more importantly, also seek collaboration with the stakeholders in the various regulatory bodies, private sector and the good people of Kenya towards promoting the Sustainable Development Goals (SDGs) in Kenya,” Adesanya said.

Adesanya said Asharami Synergy had over the past 24 months supplied 701,000,000 litres of petroleum products to Kenya representing total investment of $346,908,023 in the East African nation. The products include Premium Motor Spirit (PMS) and Automotive Gasoline Oil (AGO).

“The energy sector where Asharami Synergy operates is an integral part of Kenya’s economy and helps to shore up capacity for further growth of the nation’s agricultural engine room to yield more globally sought-after cash crops such as tea, fresh flowers, fruits and vegetables and coffee. We are committed to enhancing access to clean and top-quality petroleum products through our operations in Kenya,” he stated.

The Oxford Business Group reports that Kenya stands out on the African continent as a major economy that has grown over the past several decades and attracted foreign investment independent of any resource production. Downstream, domestic energy consumption is dominated by the traditional use of biomass. For the future, however, Kenya aims to increase access to modern energy as demand grows. Total petroleum consumption is expected to triple from 4.5m tonnes as of 2015 to 12m tonnes by 2030.

Only recently, Asharami Synergy’s parent company, Sahara Group flagged off activities to mark its 25th anniversary all through 2021. Executive Director, Sahara Group, Temitope Shonubi said the energy conglomerate’s impressive growth trajectory since 1996 had been “phenomenal”, leading to its expansion across Africa, Asia, Europe, and the Middle East.

Shonubi said sustainable economic, social, and governance models have driven the achievement of annual revenues in excess of $10 billion, with over 4,000 employees and operations in over 40 countries,” said Shonubi said.

"NM Partners" represent articles published in partnerships with Corporate Organisations, Government and Non-Governmental Institutions, and other stakeholders seeking to publish content on Nairametrics. Content includes Press Releases, Targeted content, and other forms of corporate communications targeted at our readers. Some of these content are paid for.

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JustLiquidity; The best place for easy and decentralized Crypto

JustLiquidity aims to be the leading top decentralized exchange on the Binance SmartChain, with revolutionary developments and product’s

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JustLiquidity; The best place for easy and decentralized Crypto

Introduction of Julwallet feature (NFTs minting and NFTs shop)

NFTs and NFT artists have been trending a lot in the African art space

NFTs or NonFungibleTokens as it stands, are redefining the very outlook of various forms of creative work like art, video, music, characters in a game etc. NFTs by their very definition represents unique data on the digital ledger or blockchain. Unlike Fungible tokens on the blockchain, these tokens are not interchangeable as they represent something unique in themselves.

Justliquidity has introduced a few products to the general public that makes creating, storing, selling and sending NFTs all on the Binance SmartChain as BEP1155 token, the Julwallet is one of its revolutionary products that has all these features in it and more in development currently.

Our Telegram group and Twitter handles are:

JustLiquidity
https://t.me/justliquidity

JustLiquidity Africa
https://t.me/JustliquidityAfrica

https://twitter.com/JustLiquidity?s=09
https://twitter.com/JulSwap?s=09

https://justliquidity.medium.com/

A few of other products JustLiquidity are:
The most popular one is julswap.com which is our popular decentralized exchange

Our community token JULD can also be used for bookings on Travala.com

Our Blackhole is a fully Decentralized protocol for private transactions on the #BinanceSmartChain.

We also have a token Bridge between the Ethereum blockchain and the Binance SmartChain .

$Juld can also be used for payments on shopping.io

More features coming soon including our Julpad which is which is launchpad for new projects and also a debit card feature.

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Mastercard New Payments Index: Consumer appetite for digital payments takes off in Nigeria

78% of consumers in Nigeria say digital payments methods help them save money.

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  • 96% of consumers in Nigeria are considering emerging payments such as wearables, biometrics, digital wallets and currencies, and QR code, in addition to Contactless, according to the Mastercard New Payments Index
  • 86% of Nigerian consumers have access to more ways to pay compared to this time last year
  • 78% of consumers in Nigeria say digital payments methods help them save money
  • 81% say they are more loyal to retailers who offer multiple payment options and would shop at small businesses if offered more diverse ways to pay

As the world went into pandemic lockdown in 2020, consumers shifted their spending habits to embrace contactless tap-and-go payments and online shopping. As stores closed and social distancing took hold, retailers worldwide moved their businesses online, embraced e-commerce and explored the potential of new ways to pay. More than a year later, research from Mastercard shows that the adoption of new payment technologies is rising, and consumer appetite for new, fast and flexible digital experiences continues to grow.

The Mastercard New Payments Index shows 96% of Nigerian consumers will consider using at least one emerging payment method, such as cryptocurrency, biometrics, contactless, or QR code, in the next year.

Over two-thirds of respondents (66%) agree they have tried a new payment method they would not have tried under normal circumstances, but the pandemic has galvanized people to try flexible new payment options to get what they want, when they want it. With this interest and consumer demand also comes a greater expectation for businesses to provide multiple ways to shop and pay. In fact, 81% of Nigerian consumers say they are more excited about shopping at retailers who offer the latest payment methods.  Additionally, (78%) Nigerian consumers say that digital payment methods help them save money.

“The pandemic made us think differently, partly out of necessity,” said Craig Vosburg, Chief Product Officer at Mastercard. “To deliver the choice and flexibility that consumers need – and increasingly expect –retailers worldwide need to offer a range of payment solutions that are easy to access and always on.  As we look ahead, we need to continue to enable all choices, both in-store and online, to shape the fabric of commerce and make the digital economy work for everyone.”

Contactless technology was the digital catalyst to explore new payment options because of its fast, secure, and touch-free experience. Between the first quarter of 2020 and the same period in 2021, more than 100 markets saw contactless as a share of total in-person transactions grow by at least 50 percent.  A year into the COVID-19 pandemic, contactless is showing its staying power and dynamism – in the first quarter of 2021 alone, Mastercard saw 1 billion more contactless transactions worldwide as compared to the same period of 2020. All signs point to a continued growth path for contactless, with nearly 7 in 10 consumers globally anticipating using a contactless card this year.

“The world as we now know it has changed dramatically since the outbreak of the pandemic, accelerating long-term shifts in consumer transaction and payment methods. We continue to work with our merchants, fintechs and banking partners to rapidly innovate payment options that meet consumer needs while ensuring we drive financial and digital inclusion,” said Raghav Prasad, Division President, Mastercard, Sub-Saharan Africa.

Looking to the future, digital currencies and wallets, wearables, biometrics, contactless and QR codes are trending as emerging payments technologies as people’s comfort with them and understanding of them increases and the use of cash decreases. In fact, 86% of consumers in Nigeria have more ways to pay compared to this time last year. The exploding interest in new payment technologies may encourage businesses to expand their options at checkout. The Mastercard New Payment Index found:

  • Cryptocurrency1 Gains Ground – Today consumers can buy, sell, and trade cryptocurrency as a commodity or investment. Consumers are also increasingly showing interest in being able to spend crypto assets for everyday purchases. As global interest in digital currencies continues to accelerate, 6 in 10 people (65%) in Nigeria say they plan to use cryptocurrency in the next year, with 76% noting they are more open to using it than they were a year ago. While consumer interest in cryptocurrency – especially floating digital currencies such as Bitcoin – is high, work is still required to ensure consumer choice, protection, and their regulatory compliance. Earlier this year, Mastercard announced that it will start supporting select cryptocurrencies directly on its network.
  • Biometric Payments are More Trustworthy – Perceptions of safety and convenience have been front and center for people over the past year. 49% of Nigerian consumers say they plan to use biometric verification methods like gait or walk assessments and fingerprint authorization. In fact, over 6 out of 10 people (66%) feel safer using biometrics to verify a purchase than entering a pin.
  • QR Codes are Cleaner and More Convenient – Growing markets are leveraging QR-based options as a clean and convenient way to interact with merchants. Consumer desire for clean and convenient ways to pay will remain post-pandemic. 54% of people in Nigeria expect to use more payment technologies like QR codes in the next year. Consumers also find that that QR codes are cleaner (75%) and more convenient (77%) for in-person payments and have a significant potential to reduce cost of payment acceptance and increase financial
  • Digital Wallets Surge in Popularity – Nigeria is seeing a surge in the popularity of digital wallets. 73% of Nigerian consumers said they were likely to use digital wallets next year. 66% of shoppers even say that they feel safer storing their card information in one place such as a digital wallet.

To Meet People’s Demands, Businesses Forced to Jump into Emerging Payment Trends

With consumer interest around new payment technologies, the expectation for businesses to adapt for the long-term is here to stay. Over three in four Nigerian consumers (84%) say that they would shop at small businesses, if they offered more payment options, and 81% noted being more excited to shop at retailers that can offer the latest payment methods, and an equal proportion (81%) said they would be more loyal to retailers who offered multiple payment options.

This behaviour shift is reinforced by the desire for consumer choice – with 89% saying that they expect to make purchases when they want and how they want. The businesses that can provide multiple ways to shop and pay are best positioned to meet these expectations. As the demand for emerging payments and choice continues, it requires a wider range of payment solutions, insights, and products to meet the accelerating enthusiasm for the future state of pay.

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