Flutterwave, Africa’s leading payments technology company, has announced today that its online merchants in Nigeria can now accept American Express payments.

American Express Card Members – with consumer, business, or corporate cards – will be able to make payments directly to e-commerce businesses using Flutterwave in Nigeria.

This service will also be available to Flutterwave merchants in other countries including Tanzania, Rwanda, Ghana and Uganda in the near future.

This collaboration facilitates online transactions and offers a range of benefits for both merchants and online shoppers:

• Flutterwave merchants can attract business from a new customer base of American Express Card Members in Africa and around the world. This includes consumers with personal cards and spenders with business or corporate products. Terms and conditions apply.

• For shoppers, there is more choice when it comes to being able to select their preferred method of payment when transacting with Flutterwave merchants. This collaboration strengthens the American Express global network and increases the number of locations across Africa that can be used by American Express Card Members to purchase a range of different goods and services.

Speaking on the development, Olugbenga ‘GB’ Agboola, Founder and CEO, Flutterwave, said:“At Flutterwave, we’re always looking for ways to connect the world to Africa through payments. This is one of our initiatives to ensure that more people across the world can pay using Flutterwave in Africa. We understand the value of providing shoppers with payment methods that work for them, as well as helping businesses to expand their customer bases. This collaboration also provides more options of where to shop and what to buy to American Express card holders across the globe. By offering American Express as a method of payment, Flutterwave will make the payment process faster and simpler for American Express card holders, and improve the experience for e-commerce businesses using Flutterwave, helping them to start locally and sell globally.”

On his part, Briana Wilsey, Vice President and General Manager of Global Network Services EMEA at American Express, said: “American Express continues to expand in Africa to enable greater payment choice for businesses and consumers. Through the agreement with Flutterwave, a trusted payment provider, we are giving e-commerce merchants in Nigeria the opportunity to reach American Express Card Members around the world. The collaboration is a win-win because it also increases the number of places where our Card Members can use their Cards in Nigeria.”

Flutterwave and American Express share similar visions; to enable businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables local and cross-border transactions via one Application Programming Interface (API).

Flutterwave has processed over 630M transactions in excess of USD $31B, serves global and African customers like Uber, Air Peace, Bamboo, PiggyVest, and across various industries. On the other hand, American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.

…Posts N3.3trn Net Profit, Declares N2.1trn Dividend

…Targets 2mbpd Crude Oil Production by December 2024

The NNPC Limited has released its 2023 Audited Financial Statement (AFS), declaring a net profit of N3.297 trillion at the close of the financial year which ended in December 2023, an increase of over N700billion (28%) when compared to the 2022 profit of N2.548trillion.

In a world press conference held at the NNPC Towers in Abuja on Monday, the Chief Financial Officer of the Company, Mr. Umar Ajiya said the release of the AFS is a testament to the Company’s commitment to transparency and accountability.

“Our fiscal performance reflects both strategic foresight and operational resilience. Despite inherent challenges of our operational and economic environment, we have improved the productivity and the financial performance of this great company,” Ajiya stated.

Ajiya added that posting such impressive returns demonstrates NNPC Ltd’s commitment to sustaining profitability and supporting the attainment of national energy security as stipulated by the Petroleum Industry Act (PIA) 2021, and by extension, as expected by the Company’s shareholders.

Explaining that the NNPC Ltd will announce Initial Public offer (IPO) once the shareholders and Board make a decision, Ajiya also debunked claims on subsidy payment, saying the Company was only taking care of the shortfall on PMS importation between it and the Federation.

Speaking earlier at the press conference, the Chairman of the NNPC Ltd Board, Chief Pius Akinyelure said that the excellent performance came as the fruit of the PIA 2021, the commitment of the Board, Management and staff of the company.

Akinyelure added that the shareholders of the company have since approved a final dividend of N2.1trn in line with PIA 2021 provisions.

In her remarks at the briefing, the Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan said with improvements witnessed as a result of the renewed vigour in the war against crude oil theft and pipeline vandalism, NNPC Ltd is targeting 2million barrels per day crude oil production by the the end of the year.

On the current fuel queues in parts of Lagos and the FCT, the Executive Vice President, Downstream, Mr. Dapo Segun appealed for understanding from Nigerians, saying that the the Company is working with relevant stakeholders to address the distribution, evacuation and logistics challenges.

It would be recalled that in 2021, NNPC declared profit in its operations for the first time.  From a loss position of N803 billion in 2018, it reduced the loss further down to N1.7 billion in 2019.

However, in 2020, it posted its ‘first ever’ profit of N287 billion, then in 2021, it recorded a N674.1 billion profit and in 2022, the profit grew to N2.548, an unprecedented achievement in its financial performance. The N3.297 trillion profit declared for 2023 is the highest since the Company’s inception, 46 years ago.

AVEVA, a global leader in industrial software, launches AVEVA’s 2023 Sustainability Progress Report and the first edition of the AVEVA Industrial Intelligence Index at London Tech Week 2024 where the company advocates for an ethical and impact-driven AI aimed at increasing creativity and efficiency for a more sustainable world.

AVEVA 2023 Sustainability Progress Report: key learnings

In 2023, AVEVA continued to make progress on its core ESG framework objectives, including enabling the sustainable transformation of industry through its software, modelling environmental stewardship and ethical best practice, and fostering an inclusive workplace culture where every employee feels engaged and empowered to learn and grow.

This fourth edition of the report is AVEVA’s first publication of ESG data and workstream advancements aligned to a calendar year reporting period. It details progress made in 2023 to AVEVA’s three key pillars: Technology handprint, Operational footprint, and Inclusive culture.

Technology handprint

“Beyond our efforts to reduce our own carbon footprint, we recognize that our biggest opportunity to make a positive impact and accelerate our journey towards NetZero is through our core products, digital solutions that can help industries improve efficiency, circularity, traceability and resilience” declared Lisa Wee, Global Head of Sustainability, AVEVA.

With this regard, the company has developed a green new logo program that has supported in the first six months the deployment of clean tech activities for 25 customers. In addition, with 13 new case studies quantifying the reduction of emissions AVEVA software enables for customers, the company demonstrates how it walks the talk through tangible achievements contributing to sustainability. Last but not least, hackathons run in 2023 generated 80 sustainability-led technology ideas for future innovations.

2023 also saw the launch of AVEVA’s Sustainability Accelerator program the purpose of which is to advance sustainability use cases and capabilities across the company’s portfolio and partner ecosystem, including via AVEVA’s industrial intelligence platform, CONNECT.

“AVEVA’s Sustainability Accelerator program aims to enable faster uptake of existing sustainability solutions across the industrial landscape, while we continue to invest in product capabilities and partnerships that will push out the frontiers of sustainability innovation for industry” said Joana Mainguy, Director of Sustainability in charge of the program.

Finally, AVEVA has pioneered a new standard for green software: since the end of 2023, 31% of its portfolio has built-in power consumption measurement technology.

Operational footprint

In 2023, AVEVA met 4 out of the 15 2025 ESG targets including 93% reduction in scope 1 and scope 2 emissions through a combination of measures: the company procured 100% of renewable electricity in all global markets as per RE100 criteria, reduced its overall fleet of 21% over the year, and counted hybrid or electric vehicles for 25% of the remaining fleet. Notable achievements related to upstream emissions include a 36% decrease in purchased goods and services and a 49% decrease in business travel emissions. The latter goes beyond our 2025 ESG goal of a 20% reduction.

Regarding the scope 3, AVEVA has integrated e-waste data in the inventory under the waste category to report another significant achievement: “Our initial target of diverting 5 tons of e-waste from landfill in 2025 was surpassed by 22.75 tons in 2023. 100% of e-waste sent to our disposal partner is now diverted from landfill,” explained Lisa Wee.

Inclusive culture

AVEVA’s commitment to developing a workplace environment where all employees feel included and are treated with dignity and respect is also highlighted in the report.

“Globally, with 39.9% of new hires, 29% of managers and 26,5% of leaders being women, AVEVA has significantly increased gender representation in 2023 and will continue in this direction to raise these numbers to 50% of new hires, 40% of managers and 30% of leaders by 2030. Besides, we have reached our goal of less than 1% pay equity, and it currently stands at 0.5%”,commented Lisa Wee with enthusiasm. In addition, AVEVA demonstrated its commitment to society donating £ 310,000 to causes supported by AVEVA employees’ communities around the world. 

AVEVA also achieved key milestones in regions: In the US, the company has developed a partnership with two Historically Black Colleges and Universities (HBCUs) for an ‘AVEVA Scholars Program. Spanning three years, the program includes scholarships and immersive onsite experiences, ultimately paving the way for talented Black scholars in Engineering and Computer Science to join the AVEVA team upon graduation. The pilot will kick-off mid-June 2024 and count 12 students.

AVEVA INDUSTRIAL INTELLIGENCE INDEX REPORT: A 2-in-1 publication to report on industrial needs and to give guidance on existing solutions through inspiring examples of successful and sustainable digital transformation:

At London Tech Week 2024, AVEVA launched its first annual AVEVA Industrial Intelligence Index:

“AVEVA has been supporting the industrial world for more than half a century. Listening to our customers’ needs and understanding their challenges is how we innovate and develop tailored solutions that will help them cope with current and future challenges. With more than 25 000 customers across all industries, we have built a unique expertise. Today I’m delighted to introduce our first AVEVA Industrial Intelligence Index Report. Our ambition is to issue this report every year to help C-suite executives, business unit leaders, and strategic decision-makers leverage industrial intelligence and succeed in the digital age, with inspiring insights about how industries transform towards a more sustainable future” declared Caspar Herzberg, AVEVA CEO.

Drawing on research conducted with 500 global industry executives across Europe, North America and Asia Pacific, this first edition gives valuable and actionable insights into the power, manufacturing, infrastructure, and chemicals industries. Including comments from AVEVA’s experts and leaders, the report unveils macro trends and describes the forces that drive change and innovation. It also presents case studies showcasing successful digitalization initiatives, and strategies for driving innovation and efficiency to chart a course towards a more sustainable and profitable future.