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Archive of ‘Business’ category

Women paid 40 % less than men in British workplace: study

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Britain has one of the highest gender pay gaps in Europe, the House of Commons Business, Energy and Industrial Strategy Committee said in a hard-hitting report on Thursday.

Rachel Reeves, the Member of Parliament who chairs the committee, said the study revealed that some companies have “obscene and entirely unacceptable” gender pay gaps of more than 40 per cent.

The committee’s report said it wants to introduce laws for smaller companies wherein they will have to report gender pay levels and publish action plans on what they are doing to close the gap.

It also wants companies to explain why the gender pay gap is happening.

New analysis by the committee found that 1,377 employers, 13 per cent of the total, have gender pay gaps in favor of men of over 30 per cent.

Citing evidence that the pay gap is higher in smaller businesses, the report wants the government to force companies employing 50 or more staff to publish gender pay gap data.

Currently, only companies with over 250 staff are required to supply the data.

Reeves said: “Gender pay reporting has helped to shine a light on how men dominate the highest paid sectors of the economy and the highest paid occupations within each sector.”

Reeves believes that gender pay gap is not a problem only about fairness.

“The gender pay gap must be closed, not only in the interests of fairness and promoting diversity at the highest levels of our business community, but also to improve the country’s economic performance and end a monstrous injustice.”

Reeves said a persistent gender pay gap shows that companies are failing to fully harness the talents of half the population.

She said the penalties of working part-time, both financial and in terms of career progression, are major cause of the gender pay gap.

“Companies need to take a lead. Why aren’t they offering flexible working at senior levels? They must look at why they have a pay gap, and then determine the right initiatives, policies and practices to close it,” added Reeves.

“The Prime Minister spoke about the gender pay gap as a ‘burning injustice’ and of closing the gap for good within a generation. It’s now time for the government and businesses to deliver on that ambition,” said Reeves. (Xinhua/NAN)

Apply for the Cherie Blair Mentorship Programme for Female Entrepreneurs

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The Cherie Blair Mentoring Women in Business Programme is a one-to-one mentoring relationship that also provides an online community and training opportunities for female entrepreneurs across the world.

A woman entrepreneur and her mentor can  hold a strategy session over video chat, collaborate on projects, brainstorm solutions to challenges and celebrate achievements as if they were in the room together with the use of technology.

The Foundation also has a dedicated team that  is on hand to provide support and resources throughout the mentoring relationship.

Mentees and mentors meet at least two hours a month and budget additional time to attend webinars or use our forum.

Read ( Three Nigerian banks with platforms for women)

The interesting thing about the programme is that mentors and mentees are paired with only needs and expertise as a criteria.

You are required to apply through a partner in your country, the partner in Nigeria is the Murtala Mohammed Foundation. If you select the foundation as your partner, the Murtala Mohammed foundation will also follow up with you.

Here are the requirements

Are you…

  • A professional or entrepreneur with at least seven years of experience?
  • Able to commit for one year?
  • Able to meet online with a mentee at least two hours a month?
  • Open to intercultural exchange and learning?
  • Keen to participate in our online community, forums and events?
  • Willing to complete a feedback form at the end of the programme?
  • Fluent in English?
  • Ready to embark on a life-changing relationship and join a vibrant mentoring community?

Application Deadline: 10 September 2018

Apply here

3 Lessons every Millennial Woman should learn from Bank Wars

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Bank Wars started with a tweet from Sterling Bank, On Sunday night, four banks went in a frenzy and started shading each other. While some might wonder how our banking system has deteriorated to the extent that they have embraced social media shade as part of their culture, we can only observe and learn vital lessons from the scenario.

https://twitter.com/Sterling_Bankng/status/1020366168287309825

You can kill four birds with one stone

They say you cannot kill two birds with one stone, ladies who say you cannot. We already multitask, so who says we cannot kill four birds with one stone. In one image, Sterling bank shot four banks and we were all alive to witness the huge feat.

Today, millennial Nigerian women are working 9-5 jobs and successfully running businesses, they are also active in their local assembly or religious organisation, they also volunteer for causes they care about.

All these activities are executed within the cause of 24 hours, 7 days a week. They don’t get extra day or hour. So bravely go out there and kill the birds.

Claim Age with Sense

Age is not a determinant of wisdom. Sho mo age mi
ni doesn’t guarantee that you are smart so don’t go about disgracing yourself with shut up, I am older than you. It doesn’t matter how old you are, you can learn from anyone irrespective of their age.

First Bank tried claiming sho mo age mi
ni but apparently, there was no sense attached to the claim.

Silence is not always the best answer for a fool

They often say silence is the best answer for a fool but GTB’s silence during the #BankWars is not the best answer for anyone, it only fuelled more anger and distraught from customers. In times when you need to speak up and defend yourself, speak up.

In organisations and our personal lives, as women, we sometimes believe that drawing attention to ourselves is not a good thing because we don’t want people to notice us.

Recently I attended a seminar for women and one of the ladies who led a session said people who get promoted in organisations are not people who are the best, it is people who everyone knows that they are the best. So how will people know you are competent if you cannot speak up.

 

NGO urges women to use internet for business, skills development

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An NGO, Girls Education Mission International (GEM) has urged women to use the internet for business, skills development and enrollment in online courses to add value to their sources of livelihood and professions.

Mrs Keturah Shammah, the Executive Director of GEM made the call at a Women Democracy Dialogue it organised on Friday in Jos for women in civil societies, politics, religious groups and the media.

Shammah expressed worry that women were under using the internet only for Facebook, gossips, trendy fashion styles and movies, adding that the internet was a global platform for more access to empowerment opportunities.

“The internet has limitless opportunities in business, education, employment, civic engagement, not only for chatting and watching movies,“ she said.

Shammah said the Women Democracy Dialogue was to reawaken women’s consciousness in participating in the various democratic processes in their communities and evaluate the current state of democracy in Nigeria.

“This meeting seeks to know the opinions of women on the state of our current democracy and the realities of women development in Nigeria.

“It is also to commemorate the Nelson Mandela’s international day marked on July 18, he is a true democrat and we want selfless leaders like him to ensure all the human rights and needs of the electorate were not trampled upon,“ she said.

She said that GEM would soon commence free training on internet use to enable women increase and acquire skills on how to brand and monetise business using technology, web design and connecting with women from 190 countries through its various partnerships ,“ she said.
One of the participants, Mrs Alice Mshelia said the dialogue had sensitised her on the importance of educating the girl-child, the need for women to participate in governance and know their fundamental rights.

The News Agency of Nigeria (NAN) reports that the dialogue is in partnership with the Global Alliance for Citizen Participation in South Africa and is a project of the Young African leaders Initiative in the U.S. (NAN)

Okonjo-Iweala is the first African woman on Twitter Board

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A lot of congratulatory messages have trailed the appointment of former Finance Minister, Ngozi Okonjo-Iweala Twitter CEO, Jack Dorsey and Chairman of Alliance Bernstein Holding, Robert Zoellick to Twitter’s Board of Directors as new independent directors.

Dorsey made the announcement in a tweet, he wrote

Okonjo-Iweala also acknowleged the appointment by tweeting

Okonjo-Iweala is joining Martha Lane Fox and Debra L. Lee on the Twitter board. Lane Fox is a british business woman and Lee is  currently the Chairman and Chief Executive Officer of BET, the parent company for Black Entertainment Television.

Marjorie Scardino who is leaving the board is an American-born British business executive. She is the former CEO of Pearson PLC.

Okonjo-Iweala is making history as the first woman of African descent to be part of the Twitter board is this is a big win for African women world wide.

While some may claim that this is Okonjo-Iweala’s way of changing her image following the allegations of corruption during former President Goodluck Jonathan tenure, she is making a bold step and representing the voice of Africans who have embraced the social network as a means of making their voices heard and championing advocacy.

 

Know the USSD Code of all commercial banks in Nigeria

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Ladies, you have to stop going to Twitter or calling friends to tell you the USSD Code of your bank. Here is a full list of all commercial banks USSD. Simply save it on your phone.

Fidelity Bank – – – *770#

Access Bank – – – *901#

Zenith Bank – – – *966#

Diamond Bank – – – *426#

First Bank – – – *894#

UBA – – – *919#

GTBank – – – *737#

Union Bank – – – *826#

Skye Bank – – – *833#

Ecobank – – – *326#

Stanbic IBTC – – – *909#

Sterling Bank – – – *822#

Unity Bank – – – *7799#

FCMB – – – *329#

Wema Bank – – – *945#

Keystone Bank – – – *533#

Heritage Bank – – – *322#

Standard Chartered – – – *120#

Organisation trains women on digital entrepreneurship in Kaduna

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A Belgium-based NGO, Digital African Woman (DAW), on Monday began six weeks training for business women on digital entrepreneurship.

DAW’s Chief Executive Officer, Khadijat Abdulkadir, told the News Agency of Nigeria (NAN) on the sidelines of the event in Kaduna that the goal of the organisation was to develop women across Africa to be technology-driven business owners.

Abdulkadir said that the training was being conducted in collaboration with the Kaduna State Government to help women entrepreneurs to develop their products and maximise their potential to attract investors.

She said the six weeks training tagged: “DAW Business Innovative Training Programme”, was designed for women-led enterprises across the country to help develop their ideas with sound business models and technology.

According to her, the participants will be trained on start-up pitch, branding and marketing, design thinking, pricing and sales logistics and product valuation among others.

“In the long run, the female entrepreneurs will be equipped with the needed digital skills to help them tap from the flourishing digital economy.

“The development will enable the entrepreneurs leverage on more access to international networks, technical skills and visibility.

“Resulting in having an outlet to grow their potential businesses and extend exposure to various investments opportunities using available digital platforms,” she said.

Abdulkadir said that the training programme would end with a one-day conference, where participants would have the opportunity to speak with DAW’s pool of investors for funding on July 28.

“The grand finale will be a celebration and Award Ceremony Ball for the most creative and innovative participant,’’ Abdulkadir said.

She said 65 women were participating, adding that there was still room for additional 15 participants who could register if interested at Kaduna ICT Hub.

“For details, interested female entrepreneurs can log in to our website:www.digitalafricanwoman.org or follow us on Twitter: @WomanDigital, Facebook: Digital African Woman and Instagram: DIGITALAFRICANWOMAN,“ she said.

The beneficiaries thanked DAW and the Kaduna State Government for the opportunity to improve their skills.

One of participants, Miss Yewande Adebayo, founder of Wande Clothing, Lagos, said that the training would provide her with the needed skills to rebrand her fashion business digitally.

Another participant, Miss Aisha Bidawa described the training as a life changer, adding that the training would provide her with more access to opportunities of the online to market and expand her jewelry business.

NAN reports that Digital African Woman is a social enterprise focusing on inspiring, training and developing African women into the fields of tech and entrepreneurship.

Its mission is to develop and support innovation for female led businesses across Africa and the Diaspora through active training in digital skill development and business ideation. (NAN)

Kylie Jenner covers Forbes August Edition

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Kylie Jenner is well on track to become the youngest self-made billionaire ever, ahead of even Mark Zuckerberg, who became a billionaire at age 23.

She built a $900 million fortune in less than 3 years. This Self Made Woman is gracing Forbes August edition.

The magazine wrote “Just 20 when this story publishes (she’ll turn 21 in August) and an extremely young mother (she had baby daughter Stormi in February), Jenner runs one of the hottest makeup companies ever. Kylie Cosmetics launched two years ago with a $29 “lip kit” consisting of a matching set of lipstick and lip liner, and has sold more than $630 million worth of makeup since, including an estimated $330 million in 2017.

Even using a conservative multiple, and applying our standard 20% discount, Forbes values her company, which has since added other cosmetics like eye shadow and concealer, at nearly $800 million. Jenner owns 100% of it.”

Apply for Cartier Women’s Initiative Awards 2019

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The Cartier Women’s Initiative Awards is an annual international business plan competition created in 2006 to identify, support and encourage projects by women entrepreneurs.

They are currently accepting applications for the 2019 edition. The application will close on August 31st 2018.

Founded in 2006 by Cartier, McKinsey & Company and INSEAD Business School, the competition is open to women-run, for-profit businesses in any country and sector working to create strong social impact.

The Cartier Women’s Initiative Awards aims to encourage inspirational women entrepreneurs worldwide to solve contemporary global challenges by:

• supporting and recognizing creative women who are making concrete contributions to finding solutions for the future of our planet
• bringing these business solutions to the largest audience possible.

Since 2006, Cartier has accompanied 198 promising female business-owners and recognized 70 laureates.

HIGHLIGHTS OF THE COMPETITION

The 21 finalists, representing the top 3 projects from each of the 7 regions, will receive:

• One-to-one personalized business coaching prior to the Awards week

• Series of entrepreneurship workshops, knowledge sessions and networking events during the Awards week

• Media visibility

• A place on the INSEAD Social Entrepreneurship 6-Day Executive Programme (ISEP)

• Networking opportunities through the Cartier Awards community

WINNING PACKAGE

First prize for the 7 laureates:
• US$ 100 000 in prize money
• One-to-one personalized business mentoring

Second prize for the remaining 14 finalists (second and third runners-up):
• US$ 30 000 in prize money

Apply here

 

Five Nigerian banks make The Banker Magazine’s 2018 1000 Global Bank

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Five Nigerian banks made it to the list of The Banker Magazine’s 2018 1000 Global banks.

The magazine explained that “This slowly improving economic climate was reflected by the growth trajectory of Africa’s banks which have, across the board, posted relatively strong numbers in the 2018 Top 1000 World Banks ranking.”

The banks include

1. Zenith Plc

Rank: First in Nigeria,10th in Africa and 402nd bank in the world

2. Guaranty Trust Bank Plc (GTBank)

Rank: Second in Nigeria, 14th in Africa and 576th in the world

3. FirstBank Nigeria Limited

Rank: Third in Nigeria, 16th in Africa and 592nd in the world

4. Access Bank Plc

Rank: Fourth position, 18th in Africa and 630th bank in the world

5. United Bank for Africa Plc

Rank: Fifth in Nigeria, 25nd in Africa and 856th in the global ranking.

The Banker is an English-language monthly international financial affairs publication owned by The Financial Times Ltd. and edited in London, United Kingdom.

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