GRBusiness
China and South Africa attract the negative spotlight of global markets
. What this implies
Jameel Ahmad, Global Head of Currency Strategy & Market Research at FXTM, comments on the start of the new trading week.
It’s been an interesting start to the new trading week with a number of different markets across the globe suffering weakness.
Headlines range from Chinese stocks getting slammed lower as trading resumed from a week-long holiday, the Euro retreating on the news that the European Commission has expressed concerns about the Italian budget deficit, and the South African Rand declining as much as 1% on reports that South African Finance Minister Nhlanhla Nene has asked President Cyril Ramaphosa to release him from his position.
Other risks include the Oil markets behaving sensitively to the headlines that the United States might grant some waivers to Iranian Oil sanctions and attention remaining on Brazil following the first round of the Brazilian election.
Let’s also not forget that a number of emerging market currencies across the APAC region resumed their position of pointing lower to begin the new week, while these same currencies might also face risks from developments that the Chinese Yuan has fallen to its lowest level against the Dollar in nearly two months.
All in all the early part of Monday has already showed that the combination of different themes and financial risks for markets could mean that this week is a nervous one for traders.
The largest takeaway due to its standing as the second largest economy in the world will be the movements in Chinese markets today. The latest round of selling in China can’t be dismissed and has resulted in Chinese stocks suffering their worst start to October in a decade.
While some of today’s losses in China can be attributed to the market playing “catch-up” to being absent from trading due to a week-long public holiday last week, it can’t be understated that Chinese markets as a whole are under tremendous pressure.
The Shanghai Composite Index has lost 23.28% year-to-date at time of writing, which is double the losses seen in the German DAX during the same period at 11.15%.
Away from the brutal headlines that the Shanghai Composite Index lost 3.7% on Monday, the implications that this has on other equity markets across the globe will be what traders are watching next. We have seen a trend in the past where weakness in China has resonated on other global markets, and we did encounter selling throughout the Asian region to begin the week.
The trend of weakness in China has come in spite of the PBoC cutting the RRR requirement for the fourth time in 2018 over the weekend. I wouldn’t say that the latest monetary policy action from the PBoC is the reason behind the selling in China, but it has opened up suggestions that policymakers might be concerned over signs of slowing momentum for the Chinese economy.
These concerns can also be seen in the offshore Chinese Yuan, with the USDCNH advancing above 6.90 for the first time in nearly two months.
If the Yuan continues to ease from this point, it does paint a picture of more possible pain for emerging markets across the globe this week.
The initial selling reaction in the South African Rand on reports that its Finance Minister has asked to be sacked will encourage investor caution that South Africa could be in store for another round of political risk.
Of course, South Africa is no stranger to political headlines but the initial concern could be that the reaction to the Rand to a possible replacement of its finance minister could be similar to what sparked a severe sell-off back in March 2017.
When you consider that the removal of respected Finance Minister Pravin Gordhan all the way back in March 2017 was part of a wider cabinet reshuffle of the unpopular ex-President Jacob Zuma you can’t really compare the news of then and today so closely. I would instead monitor to see how this report develops before becoming concerned that another Rand slump could be upon us due to internal political risk.
The South African economic calendar for this week is mostly thin in volume when it comes to tier-one releases until Manufacturing Production numbers on Thursday, where economists will be closely looking for signs that the economy could exit its first technical recession since 2009.
Away from political developments, I would look to see if the Rand reacts to any global uncertainties, specifically the sharp sell-off in Chinese markets and whether this spreads into other emerging markets.
Improved efforts at collaboration among financial service providers, telecommunication operators, and tech Startups, with conscious effort geared at consumer awareness, have been proffered as key remedies to the challenge of financial inclusion in the country.
This is the viewpoint of stakeholders that gathered for the second edition of Payment Forum Nigeria (PAFON 2.0) held recently in Lagos.
Delivering a keynote address on the theme, “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, Ebehijie Momoh (Mrs.), the managing director and chief executive officer of AfriGoPay Financial Services Limited, said that with 64% of Nigerian adults being financial included the country has made immense progress in that regards.
She said that between 2012 till date, the country has recorded robust regulatory reforms, especially the launch of the Bank Verification Number (BVN) in 2014 making it easier to identify and track customers across different banks.
“This initiative enhanced the credibility of the financial sector and increased confidence in formal banking systems.
The growth in adoption of smartphones has also helped the financial sector to leapfrog financial inclusion. Nigeria has 142.16 mobile internet subscriptions with an average consumption of ~7.04GB / month as of January 2025. If you juxtapose it to the 15.9% decline in shipments of feature phones to 18.8 million units in Africa as at Q1 2024, you will understand that the uptake in smartphones has helped us a great deal.
Mrs. Momoh who spoke through Mr. Munachi Duru, the head of Innovation and Strategic Partnership at AfriGoPay, said the adoption of artificial intelligence banking gave birth to solutions like smile identity, a leading KYC verification provider launches facial recognition capabilities in Nigeria as neobanks and commercial banks are deploying AI-based KYC verification tools, enabling cheaper and efficient customer acquisition and servicing.
In her goodwill message, Mrs. Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities Limited (SANEF) Limited said that with progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, SANEF has leveraged Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
She noted that as technology evolves rapidly within the financial ecosystem, Financial Inclusion must continue to be at the center of the nation’s progress.
According to her, agent banking has been a game-changer in expanding financial inclusion across Nigeria. “By deploying agents in underserved areas, we have brought financial services and banking products such as account opening, cash in, cash out, bill payment, transfers and other services closer to the unbanked and underserved.”
Speaking during a panel session, Mr. Ibirogba Oluwagunwa, chairman, Lagos State Chapter of the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN), spoke of lack of collaboration and slow institutional drive towards AI as key barriers hindering digital inclusion.
He harped on the need for information sharing among fintech operators, and improved free flow of information to consumers. “The human barrier angle needs to be addressed. Fintechs need to be pushed to move forward, AI cannot operate itself.”
In his contribution, Mr. Chika Nwosu, managing director of PalmPay, reiterated the need to reach the consumers with simple format communication and education style.
He said operators should create awareness and design consumer-centric approach in developing any products. This will not only draw the consumers towards the product, but also generate trust and ease the use of such products.
Focusing on the use of AI to ensure reach, inclusion and security, Azure Application and AI Specialist at Microsoft UK, Olusoji Solomon Adeyemo, spoke on the need for AI and Blockchain in the bid to extend services to rural communities and the unbanked.
According to him, “AI, Blockchain and CBDs are shaping the future of payment, and there is a serious need for education. We need to align with global trends in new tech adoption.”
While noting that AI can ensure reach, Adeyomo said blockchain will also create digital identity that is exclusive and will promote digital financial inclusion.
In her position, Oluwabunmi Ogunyemi, the customer support lead at Moniepoint MFB, proffered physical and digital meet with customers, even in rural areas, as a viable means of inclusivity.
Also speaking, Olusegun Afolabi, the co-founder of Face Technologies UK Ltd., called for improved collaborations among stakeholders in the financial sector.
According to him, the fintech companies must also embrace effective identification solutions, focusing on biometrics and card technologies to ensure topnotch security for users.
Earlier in his opening remarks, Mr. Peter Oluka, co-Convener of the Forum, noted that the financial inclusion journey in the country has come to a crucial juncture where over 30 million adults are still financially excluded, many of whom reside in rural areas or belong to vulnerable demographics.
He noted that despite 12% growth in access to formal financial services between 2020 and 2023, as recorded by the EFInA Access to Financial Services Survey 2023, challenges still exist that hinders the unlocking of the potentials of digital payments to drive inclusive growth in Nigeria.
He further posited: “As digital infrastructure grows and fintech innovation accelerates, we must channel these advancements toward building a more inclusive, secure, and trusted financial ecosystem. This is not just about transactions — it’s about empowerment, opportunity, and economic participation for all.
Nodding in agreement, Mr. Chike Onwuegbuchi, co-Convener, PAFON, reiterated the need for all stakeholders in the financial payment industry, including regulators, to participate in forums as PAFON, to map out, growth strategies with consumers and other strata of the ecosystem.
He promised to invite security stakeholders, such as the EFCC and others in subsequent editions of the event. This will help give insight into security concerns in deployment of products and services in rural and unbanked communities.
Payments Forum Nigeria (PAFON) is a platform dedicated to shaping the future of digital payments and financial services in our country.
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
Micro, Small and Medium-sized Enterprises(SMBs) are the backbone of most economies accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. They drive growth, innovation, and job creation worldwide.
In Nigeria, they play a crucial role in stimulating local economies and contributing to the country’s GDP.
Recognising their impact, WhatsApp is committed to empowering SMBs with the tools to succeed through the WhatsApp Business App, by reaching their customers where they already are.
WhatsApp continues to be the best way for people and businesses to get business done in Nigeria. With its efficient features, the WhatsApp Business App has become an indispensable tool for small businesses, helping them streamline communication, enhance customer engagement and drive sales. And we know customers love communicating with businesses over WhatsApp too, as nearly 80% of people globally message with a business at least once a week.
Whether you’re just starting out or looking to optimise your business operations, here are five essential WhatsApp Business features that can elevate your efficiency and customer interactions.
1. Catalog – Showcase Your Products and Services
Gone are the days of sending multiple images and descriptions individually to customers. With the Catalog feature, you can create a digital storefront where customers can browse your offerings within WhatsApp. This is just like a mini-website which makes it easier to showcase your products, prices and descriptions in an organised way.
How to Use It: Go to Business Tools > Catalog. Add product images, videos, names, descriptions and pricing.
2. Quick Replies – Save Time on Repetitive Questions
Answering the same customer questions repeatedly? Quick Replies let you create preset responses for frequently asked questions, saving you time and ensuring fast customer service.
How to Use It:Go to Settings > Business Tools > Quick Replies. Create and save responses such as a greeting message or order confirmation. Use the shortcut “/” to insert a quick reply in any chat
3. Labels – Stay Organised and Track Conversations
Managing multiple customer interactions can be overwhelming, but the Labels feature helps by categorising chats in different ways, such as order status or customer type. You can create labels with different colors or names and add the conversations to an entire chat. This keeps your inbox organised and ensures no customer is left waiting.
How to Use It: Open a chat, tap on the three-dot menu > Label Chat. Assign relevant labels like New Customer, Order Placed, Pending Payment.
4. Away Messages – Engage Customers Even When You’re Away
Never miss a customer inquiry again. Away Messages allow you to set up a greeting or away message, ensuring customers receive timely responses even outside business hours.
How to Use It: Go to Business Tools > Away Message / Greeting Message. Set up a custom message and schedule when it should be sent.
5. Meta Verified – For Enhanced Protection and Account Support
A paid subscription that helps your business build credibility with new audiences, Meta Verified can help drive more engagement and grow your brand. With Meta Verified, you’ll receive enhanced account support, can use WhatsApp across multiple devices and easily create a professional WhatsApp web page that’s tailored to you.
How to Use It: Go to Settings or Business Tools > tap Meta Verified.
WhatsApp Business is packed with features designed to help small businesses grow, stay organised, and engage with customers effortlessly. By leveraging these features, you can enhance your customer experience, increase efficiency and ultimately drive more sales. Start your own journey with the WhatsApp Business app here.
PAFON 2.0: Experts Highlight Ingredients for Accelerated Financial Inclusion in Nigeria
Emulate Christ’s virtues, Glo urges Christians at Easter
“Jesus + Nothing Worship” Leaves Lasting Impact, Amplifying the Message of Christ’s Sacrifice and Resurrection
LASG Acquires New Outboard Engines For Optimum Boat Performance
Elon Musk builds Hotel in Mars, Sets to launch soon at $5million per night – Photos
We Do Not Accept Refugee Application Directly From People – Canadian Govt.
-
Spotlight3 days ago“Jesus + Nothing Worship” Leaves Lasting Impact, Amplifying the Message of Christ’s Sacrifice and Resurrection
-
Finance2 days ago
PAFON 2.0: Experts Highlight Ingredients for Accelerated Financial Inclusion in Nigeria
-
News3 days ago
Emulate Christ’s virtues, Glo urges Christians at Easter
