Untapped Global partners with Paga to boost digital payments for Nigerian SMEs

Smart Asset Financing fast tracks digitization for over 120,000 small businesses

LAGOS, Nigeria, Oct. 1, 2021 /PRNewswire/ — Untapped Global, an investment company focused on emerging markets, announces a scale up of its partnership with Paga, the mobile payment and financial services company. The program finances point-of-sale devices (POS) for merchants in Nigeria, the largest country in Africa, but still underserved when it comes to financial services.

The collaboration between Paga and Untapped focuses on empowering small businesses to accept digital payments and bring financial services to the masses. The financing is structured to lower the overall cost of entry for merchants to acquire a handheld POS terminal and other digital tools for their businesses, making it easy for them to buy, sell, and get paid.

Untapped Global Logo

“We are excited to scale our POS rollout program with Untapped,” said Tayo Oviosu, Founder and CEO of Paga Group. “We have built the best on-ramps and off-ramps for cash in Nigeria through the Paga agent network and are further digitizing merchants via our new merchant platform, Doroki. Across our ecosystem, we currently have over 33,000 merchants. Our collaboration with Untapped is accelerating our progress to reaching 120,000 merchants in the next two years by lowering the startup and onboarding costs for merchants.”

Untapped Global offers Smart Asset Financing to asset-based businesses across Africa and other emerging markets. Smart Asset Financing is an innovative investment model that provides flexible capital for fast-growing enterprises like Paga, leveraging technology to make investments safer and more profitable for investors by tracking assets and capturing revenue in real-time.

Paga’s POS devices enable merchants to accept cards, mobile payments, and other forms of digital payments, and offer other value-add financial services to customers. The financing from Untapped is unique, as payments are recovered from the revenues earned on the devices. Lowering the cost of entry for using mobile payments is key to delivering the benefits of Africa’s growing fintech revolution to even the smallest businesses.

“The network of the POS devices that will be available for merchants via this partnership is powerful,” Untapped founder and CEO, Jim Chu, commented. “It enables a seamless process for merchants and their customers to buy, sell, and get paid. We’re excited to use Smart Asset Financing to greatly increase access to financial services across Nigeria with partners that know the space best, like Paga.”

Untapped and Paga had an initial and successful pilot in 2021. Scaling up the availability of the devices shows the impact these devices have on small businesses, particularly in emerging markets like Nigeria.

“Our goal at Paga Group is to make it simple for 1 billion people to pay, get paid, and access financial services,” Oviosu said. “The team at Untapped is aligned with that goal, and the current partnership showcases its objective to ensure that entrepreneurs have the opportunity to scale to their full potential.”

About Paga:
Paga is a payments and financial services ecosystem for Africa. Our ecosystem is similar to that of Square and PayPal as we focus on helping both consumers and sellers pay, get paid, and access financial services. Our first market is Nigeria where we now have over 18 million unique users.

About Untapped Global:
On a mission to empower the next billion entrepreneurs to scale to their full potential, Untapped creates opportunity by connecting frontier market innovators to global investors through its Smart Asset Financing™ platform that provides CAPEX financing for revenue-generating assets around the world, and its global investment network, The Nest.

Kun, le concept-car de SAIC Motor, dévoilé à l’Expo de Dubaï

DUBAÏ, EAU, 1er octobre 2021 /PRNewswire/ — Aujourd’hui, le concept de voiture autonome à énergies nouvelles « Kun » de SAIC Motor – exposition vedette du pavillon de la Chine de l’Expo de Dubaï 2020, a été virtuellement dévoilé au musée de l’Exposition universelle de Shanghai.

L’Expo de Dubaï ouvrira officiellement ses portes le 1er octobre. Le tout dernier concept-car de SAIC Motor, « Kun »,constituera l’élément d’exposition le plus éblouissant avec le satellite chinois Beidou et le chemin de fer à grande vitesse de Chine, démontrant au monde entier la puissante force d’innovation et le charme technologique unique de la fabrication haut de gamme de la Chine. Dans le même temps, les marques propres de SAIC Motor, MG et MAXUS, présenteront leurs derniers modèles en tant que véhicules officiels désignés pour le pavillon de la Chine pendant l’exposition.

Une vision de la « Mobilité intelligente » pour une vie meilleure

L’Exposition universelle, qui a une longue histoire de plus de 160 ans, est connue comme « l’événement olympique des milieux économiques, technologiques et culturels » et est devenue une scène mondiale pour exposer de nouveaux concepts, de nouvelles idées et de nouvelles technologies. « Tout commence à l’Exposition universelle ». Les trains, les lumières, les téléphones, les avions, les autoroutes et d’autres technologies et concepts qui ont été lancés pour la première fois à l’Exposition universelle sont progressivement entrés dans la vie quotidienne des gens et ont fortement favorisé le progrès continu de la société humaine.

Lors de l’Expo 2010 de Shanghai, SAIC Motor a construit un pavillon d’entreprise automobile, décrivant une image souhaitable de « Direct to 2030 » (En route pour 2030) avec zéro émission, zéro accident de la route, sans dépendance à l’égard du pétrole et sans embouteillages.

Lors de l’Expo 2020 de Dubaï, SAIC Motor présentera le concept « Kun », créé conjointement par les équipes de design avant-gardistes de Shanghai et de Londres. Citant la légende du « Léviathan » dans Carefree Soaring de Zhuangzi, inspiré par « le monde et la Chine, la montagne et la mer », le concept « Kun » intègre l’interaction de la bio-intelligence, l’énergie photosynthétique, le siège zéro gravité, l’interaction de l’image holographique et les technologies avancées de conduite autonome, et présente une belle image de la mobilité intelligente qui ne sera pas limitée par l’espace à l’avenir et de la fusion des environnements de l’homme et du véhicule. Elle offrira au public international de l’Expo une expérience unique « un regard sur la technologie, un regard sur l’avenir et un regard sur la Chine ».

Une image de marque chinoise « verte et intelligente »

SAIC Motor représente l’industrie automobile chinoise et crée activement une image innovante « verte et intelligente » à l’Expo de Dubaï. SAIC Motor a mis en place une chaîne industrielle automobile mondiale comprenant la R&D, le marketing, la logistique, les pièces détachées, la fabrication, la finance, les voitures d’occasion, etc. Ses produits et services sont appréciés dans plus de 70 pays et régions du monde.

S’appuyant sur les avantages des technologies innovantes telles que les véhicules à énergies nouvelles et les réseaux intelligents, SAIC Motor crée activement une compétitivité internationale différenciée. De janvier à août de cette année, les ventes sur les marchés étrangers ont dépassé 370 000 unités, soit une augmentation de 106,4 % en glissement annuel, ce qui place la société au premier rang des ventes à l’étranger des constructeurs automobiles chinois. Parmi ces ventes, la marque MG a atteint 182 000 unités, soit une augmentation de 83,9 % en glissement annuel. Les ventes de MG dans les pays développés ont représenté près de 40 % et ont permis à la marque de remporter le titre de « championne des ventes à l’étranger d’une seule marque en Chine ». Les ventes de véhicules à énergies nouvelles de marques propres dans les pays européens développés ont atteint près de 19 000 unités, soit une augmentation de 133 % en glissement annuel, classant ainsi la société au premier rang des segments de véhicules dans des pays tels que le Royaume-Uni, la Norvège, le Danemark et l’Islande. Dans le même temps, le système de réseaux intelligents « i-Smart » a été populaire auprès des consommateurs en Thaïlande, en Inde, en Indonésie et dans d’autres pays. Il a été utilisé sur plus de 30 modèles étrangers et a activé plus de 130 000 utilisateurs.

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Fact-Checking Biden’s Claim US Is World’s ‘Arsenal of Vaccines’

WHITE HOUSE — At the virtual COVID-19 summit on the margins of the U.N. General Assembly last week, U.S. President Joe Biden announced an additional donation of 500 million doses of the Pfizer vaccine to low-income and lower-middle-income countries, bringing total U.S. pledged donations to 1.1 billion shots.

“I made — and I’m keeping — the promise that America will become the arsenal of vaccines as we were the arsenal of democracy during World War II,” Biden said at the summit.

Here are some facts and context surrounding that claim.

How many doses has the US pledged and shipped?

Of the 1.1 billion doses the U.S. has promised, nearly 172 million have been shipped to more than 100 countries, according to the State Department.

Most are distributed via COVAX, the global vaccine-sharing initiative co-led by Gavi, the Vaccine Alliance; the World Health Organization; and the Coalition for Epidemic Preparedness Innovations, and some through bilateral agreements.

This makes the U.S. the global leader in both pledged and shipped doses, according to data compiled by the Duke Global Health Innovation Center as of October 1.

The next-largest pledges come from the European Union (500 million), France (120 million), and the United Kingdom, Germany and China (100 million each).

Countries that have shipped the most donations after the U.S. are China (47 million), EU (33.8 million), Japan (21.5 million) and Germany (9.9 million).

The 1.1 billion doses pledged is in line with the administration’s commitment to donate three shots for every shot administered domestically. So far, 392 million shots have been given in the U.S.

The question is when the U.S. will deliver on the rest of its commitment of almost 1 billion doses.

“The claim about being an arsenal of vaccines for the world is a great talking point,” said Krishna Udayakumar, founding director of the Duke Global Health Innovation Center. “It would be great to see put into action.”

The U.S. has shipped only 15% of the 1.1 billion doses it has promised. It is lagging behind other countries with considerably less ambitious donation goals, including China (46%), Japan (30%) and France (8%).

When and to whom will the rest be shipped?

The White House said 200 million more doses would go out by year’s end, and the remaining 800 million will be sent by September 2022.

“The world can’t wait that long,” said Matthew Kavanagh, director of the Global Health Policy and Politics Initiative at Georgetown University. He said the U.S. should be ramping up shipments now, particularly if it wants to meet its target to support the WHO’s goal of having at least 70% of the world’s population fully vaccinated in every country and income category by September 2022.

The administration has not provided a plan identifying the countries slated for future shipments. Jeremy Konyndyk, executive director of the U.S. Agency for International Development’s COVID-19 Task Force, said countries already signed up with COVAX and ready to receive and distribute the vaccines would be first in line. Those that are not will be supplied with vaccines as their capacity to receive them grows.

“It’s really hard to project over that full time period where any individual country will shake out,” Konyndyk said. “We’re kind of working it out and making adjustments as we go along depending on how the pandemic evolves.”

How much surplus does the US have?

The administration does not make public the number of doses it has in reserve and those it has secured for domestic needs in the production pipelines of vaccine manufacturers. The numbers are constantly in flux, an administration official told VOA.

Data from the Centers for Disease Control and Prevention show that 82 million doses have been distributed across the country but not yet administered. Humanitarian organizations allege that the U.S. is sitting on an even larger stockpile.

“They must now get these doses — and more of the 593 million excess doses the U.S. will have by the end of the year — out the door and into the arms of people in low- and middle-income countries,” said Dr. Carrie Teicher, director of programs for Doctors Without Borders USA, responding to Biden’s announcement of an additional 500 million doses.

Data compiled by analytics company Airfinity on COVID-19 vaccine stock in the U.S., EU, U.K., Canada and China — countries with the biggest surpluses — show an excess of close to 670 million doses by the end of September. This projection factored in those countries offering booster shots to people 12 and older six months after their second doses.

Airfinity data also predict that 241 million doses of vaccines stockpiled in the Group of Seven leading industrial nations will expire by December without immediate redistribution.

Is the global vaccine shortage a question of production capacity or distribution?

Airfinity data show vaccine manufacturers currently produce 1.5 billion doses per month. It forecasts a total global production of 12.2 billion doses for 2021, of which 6.5 billion are Western vaccines and 5.7 billion are Chinese.

This would mean the goal set by the WHO of 11.3 billion doses required to vaccinate the world’s population could be achieved in months, providing wealthy nations do not continue to cushion their reserves to provide booster shots and guard against new variants before lower-income countries get their first shots.

“Wealthy countries bought up most of the world’s supply of vaccines and have not moved fast enough in creating a global plan to get these vaccines delivered and distributed where they are needed around the world,” said Sarah Swinehart, spokesperson for the ONE Campaign, an organization formed to fight poverty and preventable diseases.

High-income countries have now administered almost 100 doses for every 100 people, while low-income countries have administered just 1.5 doses, according to the WHO.

If there is high production capacity, why aren’t producers exporting them?

“If we’re going to be the arsenal of vaccines, we actually have to export vaccines, not just donate them once in a while,” said Udayakumar of the Duke Global Health Innovation Center. Separate from the doses donated by the administration, American vaccine producers have exported 161 million doses for sale, far below China (1.1 billion) and the EU (nearly 800 million).

Most exports still go to higher-income countries, and some export restrictions are still in place. This week, the EU extended a mechanism to potentially limit vaccine exports until the end of 2021 because of the bloc’s need to secure booster shots.

India, the world’s largest manufacturer of vaccines, stopped exports in April to focus on inoculating its own population as infections surged. It will resume exports in October.

The WHO is also urging scaling up manufacturing through technology transfer. In June, it announced the first COVID-19 mRNA vaccine technology transfer hub, to be set up in South Africa.

The world health body also called for the so-called Trade-Related Aspects of Intellectual Property Rights Agreement waiver, or TRIPS waiver, the suspension of intellectual property rights for vaccines at the World Trade Organization, so that countries can access vaccine “recipes” and produce their own without fear of legal action.

The TRIPS waiver proposal, submitted by South Africa and India in October 2020, is supported by more than 100 countries, 100 Nobel laureates and prominent human rights groups, but it cannot move forward without the consensus of all WTO members. The EU, U.K. and Switzerland oppose the waiver.

Didn’t the US support the TRIPS waiver?

We have not seen the full weight of the U.S. diplomatic corps engaging on this topic, said Matthew Rose, director of U.S. policy and advocacy for the Health Global Access Project. “In multiple TRIPS council meetings, the U.S. has been mostly silent in reaching a consensus and moving the council to text-based negotiations,” he said.

In May, the U.S. said it broadly supported the proposal to waive TRIPS, but it has since declined to support the proposal as it is, in effect helping prolong negotiations.

Instead of leading, the Biden administration has largely stayed on the sidelines of TRIPS negotiations, said Abby Maxman, president and CEO of Oxfam America, an organization aiming to end global poverty. “We cannot vaccinate 70% of the world with the same tools that have vaccinated only 1% of Africa so far.”

The office of U.S. Trade Representative Katherine Tai, who is leading the TRIPS waiver negotiations at the WTO, did not respond to a request for comment.

The TRIPS waiver received little attention at the COVID-19 summit that Biden convened. Except for Canadian Prime Minister Justin Trudeau and New Zealand Prime Minister Jacinda Ardern, no other leaders from wealthy nations, including Biden, mentioned it in their remarks.

White House press secretary Jen Psaki told VOA that the administration expects TRIPS waiver negotiations to be a lengthy process and that it has “never been the only basket that we’re focused on.”

Source: Voice of America

One UN Peacekeeper Killed, Four Wounded in Mali

BAMAKO, MALI — One U.N. peacekeeper was killed and four more were severely wounded when their convoy hit an improvised explosive device in northern Mali on Saturday, the U.N. force in Mali said.

The bloodshed near the town of Tessalit followed the killing of five Malian gendarmes in an ambush on a mining convoy in southern Mali earlier this week that was claimed by a group linked to al-Qaida.

Armed attacks by Islamist militants and other groups are common across vast swaths of Mali and its neighbors Burkina Faso and Niger despite a heavy presence of international troops. Thousands of civilians have been killed and millions displaced.

“This incident is a sad reminder of the permanent danger that hangs over our peacekeepers,” El Ghassim Wane, the head of the U.N. mission known as MINUSMA, said in a statement. The peacekeeper who was killed was from Egypt.

The mission has deployed more than 13,000 troops to contain violence by armed groups in the north and center of the country. It has recorded about 255 fatalities since 2013, making it the deadliest of the U.N.’s more than a dozen peacekeeping missions.

In a statement issued Saturday night, the U.N. secretary-general strongly condemned the attack and “expresses his deep condolences to the family of the victim, as well as the government and people of Egypt. He wishes a speedy recovery to the injured,” the statement from the spokesperson for the secretary-general said.

Source: Voice of America