VAS2Nets Technologies Limited is a technology company that deals in digital transformation and inclusion for businesses. It has subsidiaries in fintech and banking (i.e., VAS2Nets Finance and Fortress MFB).
It is currently headquartered in Lagos, Nigeria but with a global presence. Its product portfolio can be broken down into three main categories.
1. Content aggregation (22% of revenue)
2. Bulk SMS, Airtime and Data vending (58% of revenue)
3. Telecoms network service integration (20% of revenue)
The general market consensus of VAS2Nets is that we are a forward-looking company with a good ESG profile. VAS2Nets aims to rank well in a peer group for ESG scores from different ESG agencies.
SUSTAINABILITY OVERVIEW REPORT
VAS2Nets is pleased to introduce our first-ever sustainability overview report as part of our ongoing commitment to leading sustainability best practices in today's evolving economy.
Stakeholders can expect to see this report yearly which will include highlights around the key initiatives we're undertaking to identify ESG risks and opportunities for our business.
As we advance, we will also introduce a sustainability team led by ED Business Developments that will consist of company leaders, and this group will be responsible for active participation in ESG policies.
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1. VAS2Nets aims to go from a 0.5% solar-powered business to a 90% solar-powered business by 2024. The solar-powered business has an expected growth rate of 100%. Currently, the company spends N12,895,699.37 on diesel and power. The company plans to invest N8,000,000.00 to update its solar power with more energy-efficient substitutes. This plan will reduce diesel and power spending by 60% YoY.
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IMPACT
● Reduce downtime average of 7 days.
● VAS2Nets will be shifting to provide services for energy-efficient companies and give discounts to such companies as it continues to grow its sustainable plan.
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1. Reduce Carbon Footprint: VAS2Nets is actively looking to achieve a net-zero carbon footprint in response to the rapidly changing environment within the next 15 years. We anticipate the reduction positively impacting the company's branding and cost capital. We expect a modest direct investment into renewable energy infrastructure.
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2. Labor Leadership: Diversity of workforce and board of directors is top of mind in VAS2Nets. Mounting evidence suggests that gender, race and culture-based diversity, particularly at the leadership level, can foster a much more creative dynamic concerning strategic planning and problem-solving. VAS2Nets will maintain its active role in changing labour relations for the better by developing a rich diversity, equity and inclusion (DE &I) hiring strategy across our entire workforce, suitable to senior management and board level. We have identified the correlation between employee satisfaction and company-level productivity and are confident it will progress.
Management has significantly overhauled our hiring and training practices, including the compensation structure. Investment in our people will remain paramount. It will result in a modest increase in our staffing cost as a percentage of total revenue. Based on projections, these costs will be more than offset by a reduction in hidden losses of productivity from sick days, turnover or retraining.
Sustainable Business Model
Clients and stakeholders will keep speaking with their wallets. Our research suggests that a shift into a true ESG and sustainable leadership position could result in annual sales growth as much as 100 basis points higher than our current estimated revenue, with massive reduced CAPEX. While VAS2Nets keeps evolving, a sustained leadership role in ESG's evolution will strengthen it even further, especially with new investment conditions.
Beyond these, we anticipate disclosing our progress towards energy efficient business model, achieving net-zero carbon emissions and strong labour relations will ultimately make VAS2Nets a less risky business, reduce our cost of borrowing, enhance stable operations and eventually have a positive impact on our bottom line with the ability to generate a return on investment for the shareholders.