Business
‘Mobile Money ll Take Service To Unbanked Nigerians’
The Managing Director, FETS Nigeria Limited, Mr. Dare Owolabi, has said the mobile money technology will take banking service to unbanked Nigerians.
He said in an interview with newsmen on Wednesday, “We have a lot of people that don’t have bank accounts and they are the target. For example, you and I have bank accounts; but people in the rural areas don’t. “So that will be their device to transfer money. So, if you have a mobile phone, you can use it to make transactions and purchase goods anywhere you are or transfer money to friends and families.”
According to him, the unbanked Nigeriansa will be reached through marketing, awareness and agent networks.
He said, “It is like the Western Union, you go to agents; the agents are the people you know in your surroundings. Let’s look at the villages, for example, if Babatola is a chairman of the barber association, he is the agent and he is known, they will be able to work with him. That is the model we are trying to build; we have the agent, we have the dealer and the sub-dealer.”
Owolabi, whose company is awaiting the Central Bank of Nigeria’s full licence to operate the business, said he was positive that the licence would be granted his company.
He said, “We have demonstrated during the pilot scheme stage, with the provisional licence, that we have the capacity to do the business. As soon as CBN gives us the go ahead, we will start because our agents are everywhere. We have agreements with Airtel, Etisalat and we are talking to MTN and Glo.”
On security, Owolabi said,” It is secure because at the end of the day, you can’t do a transaction without having a pin.”
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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