Category: e-Business

Oyebola Owolabi

The Africa Telecommunication Union (ATU) has launched the ATU Africa Innovations Challenge 2020; a competition designed to identify and support young African innovators who have developed mobile applications useful for benefiting the fight to contain COVID-19’ and possibly other emergency situations in Africa in the future.

According to the ATU Secretary-General Mr. John OMO, a top prize winner in the competition is expected to carry home a cash award of USD 5000 aside from being engaged in other mentorship and partnership programmes.

“This challenge will be instrumental in recognizing, testing, and highlighting disruptive innovations and new business models that have the capacity to redefine Africa,” said Mr. OMO who also stressed the importance of African institutions to support initiatives that create, innovate and deliver for the continent. To do so, he suggested, requires a concerted effort from stakeholders at all levels.

The launch event whose discussion centered on the theme: How Africa Can Stay above the Impact of COVID-19 through Innovation; brought together a number of innovators, ICT Ministries, and regulators, the academia and ICT organizations.

Speaking also during the launch event, Chief Guest Hon S.E.M. Mamadou SANOGO, Minister of Communication, Digital Economy, Post, Information and Communication Technologies, Côte d’Ivoire reiterated the need and urgency to do everything possible to support the fight against COVID-19 including through such initiatives as the Africa Innovations Challenge. “Innovation has become the key differentiating element that can give economic opportunities to our young people,” he said.

READ ALSO: Samsung unveils innovations for shipbuilding

Announcing Huawei as the Title Sponsor, Mr. OMO said, “We are happy to bring Huawei on board. For over 20 years Huawei has been building ICT infrastructure, promoting ICT skills, and enabling ICT innovation across Africa. We believe the trustworthy partner can support this initiative with their expertise, insight, and experience both globally and locally. ”

Vice-President of Public Relations for Huawei Northern Africa Region, Mr. Loïse Tamalgo who was also part of the event underscored the value of innovative approaches towards growth in the continent as well as the company’s dedication to investing in talent development. “We are looking forward to working with ATU to bring out the creativity and entrepreneurship residing in the African youth,” he said.

The ATU innovation challenge is an initiative that seeks to provide both short and long-term solutions and opportunities to the African Youth. With increased suppression of the social fabric in many communities in Africa as a result of COVID-19, and in consideration of the fact that a large population of Africa are youths who are generally living in difficult conditions, the competition promotes the idea that the ability for countries’ readiness for digital solutions, could significantly help address some of these challenges.

The event was also used to unveil ATU’s new logo as part of the Union’s re-branding effort.

The internet arrived in Nigeria in 1995. Since then the country has experienced a constant increase of internet users. The number of active internet users in 2019 was over 113 million. In March 2020, it rose to 135 million and experts predicted that by 2023, 9 out of 10 Nigerians will have internet access.

However, those predictions were made before the COVID-19 pandemic struck and can no longer be considered as accurate. It is now evident that the COVID-19 lockdown had a massive effect on internet usage numbers.

It forced almost all Nigerians to stay at home for extended periods. This meant that the only way they could get things such as supplies, information, education, entertainment, and even socializing with others was via online platforms. Needless to say, this also meant that internet usage numbers would skyrocket.

Increase in demand for online entertainment

Online entertainment service providers reported mind-boggling increases in traffic during the lockdown. In fact, Netflix had to cut the streaming quality on its service in Europe for 30 days in March and April to be able to continue streaming content to subscribers. The demand for the service was so great that if Netflix didn’t do that, their servers could have easily gone down.

The same thing happened in Nigeria. People were at home for days and had to find a way to make the lockdown more bearable. The best example of the increase in demand for entertainment services in Nigeria is the unbelievable rise in popularity of online casinos and gambling sites.

Nigerians have a long tradition when it comes to games of chance and the lockdown limited their access to these. However, it also opened new online casino horizons.

Online casinos have all the games that Nigerians know and love and thousands of others. The offer they have is so great, in fact, that lots of people are now visiting specialized casino reviewers such as this site to separate the gambling wheat from the chaff.

Increase in internet subscriptions

Another effect of the lockdown was the dramatic increase in new internet subscriptions in Nigeria. In March 2020, there were around 135.6 million internet users in Nigeria. This number increased to 140.7 million by the end of May.

This means that there were almost 5 million new subscribers during the lockdown months of April and May and that’s quite extraordinary.

Localized traffic and boosted internet speeds

Not so long ago Nigerians had the problem of paying lots of money for internet services and still not getting satisfactory internet speeds. And while this is still a problem for lots of Nigerians, things are certainly moving in the right direction.

Most of Nigeria’s internet traffic is now localized with 70% of all traffic coming from local exchange points. This is important because local exchanges mean faster internet speeds at a lower cost.

To put things in perspective, in 2012, only 40% of Nigeria’s internet traffic came from local points. Just imagine the mutiny if Nigeria had to go through a lockdown with 2012 internet speeds.

Online transactions went through the roof

It was only logical that once everyone was forced to stay home, online commerce would start booming in Nigeria.

Tech-savvy Nigerians were the first ones to make the transition to online purchases and they did this seamlessly. What is more, some of them saw the lockdown as an opportunity for a new source of income and started going into business ventures such as digital marketing.

The transition was slightly more difficult for older Nigerians. They are usually the ones that fall victim to online fraud so navigating the e-commerce waters for them was more challenging.

Online education platforms have a bright future

One of the most pressing lockdown issues that governments around the world had to find a solution to was education. Schools were the first to close when the pandemic started and Nigerian politicians and educators had to think on their feet to find a quick fix to the problem.

They had limited time to test out distance learning solutions and online platforms, but coped with the task admirably. Most Nigerian educators adapted to using distance learning solutions very quickly. What is more, they saw the benefits of online learning platforms first-hand so will likely use them to complement their teaching when schools reopen too.

Gboyega Alaka

 

Impact Hub, a Lagos-based venture builder outfit, will on Friday launch the New Economy Booster Programme, a post-Covid-19 economic recovery programme for businesses in Nigeria and Ghana.

According to the organisers, the goal of the programme is to boost high potential solutions or ventures already in the market or ready to go-to-market creating a positive impact on challenges faced by key sectors in both the Nigerian and Ghanaian economies.

The programme is expected to bring ventures to the next level, advance business skills, offer expert advice, as well as nourish potential investor relationships.

Impact Hub CEO Patrick Eromosele said: “The new economy booster will provide entrepreneurs with access to resources that they need to ensure their sustainability.

“In addition to senior expert advisory and consulting services, personal development and technical skills training, ventures will also receive connections to potential investors, peer support from other participants and partnership building opportunities.

“These resources are invaluable to start-ups who want to be a part of Nigeria’s economic recovery and scale their impact.”

In the seven-month online programme, which the organisers have described as ‘tailor-made,’ successful candidates will get a range of customised content and resources to develop and grow their business and network while being guided by a team of local and global experts.

Created by Impact Hub in partnership with the Lab of Tomorrow, the programme is supported by The German Federal Ministry for Economic Cooperation and Development (BMZ).

 

 

 

Agency Reporter

The Century Group (CG) and Global Performance Index (GPI) has partnered world’s largest chartered membership body for safety and health professionals, Institution of Occupational Safety and Health (IOSH), Combined Training Solutions (CTSGlobe) and other public and private institutions to host the second edition of the Health, Safety, and Environment (HSE) Summit virtually on 4th September 2020 from 9 am to 5 pm.

The summit will attract business leaders, industry and governmental regulators, decision-makers, safety, health, and environment professionals for fresh thinking, lively discussion, and a scan of the safety and health horizon in Nigeria/Africa.

Over 2,500 professionals and practitioners from all walks of life would participate in the event, setting a record for the first of its kind in HSE gathering in the last edition

Spokesman of the summit, George Ashiru, said the theme of the event, “recycling to wealth” will be delineated into four topic categories: Environment/ Sustainability; Waste Management; Health and Safety; and Commercial.

READ ALSO: Work safety

“These topics will be expansively discussed to unmask the enormous opportunities that are in changing physical, biological and physiochemical state of waste to an innovatively produced new raw material or product,” he said.

He added the decision to host the event virtually is based on the reality of the new normal based on the COVID-19 pandemic.

The HSE Summit 2020 is a raft of progressive and mutual partnership and collaboration.

Hence, apart from the knowledge to be gained, participants will have the chance to win scholarships, business grants, professional body membership, electronic devices, and more.

Among the list of collaborators for the summit are Departments of Petroleum Resources (DPR); Federal Ministry of Labour; Federal Ministry of Health; Lagos State Safety Commission, Lagos State Waste Management Authority (LAWMA), Federal Road Safety Corps, Nigerian Maritime Administration, and Safety Agency.

Global Performance Index (GPI) is an Information Technology company providing extensive digital transformation solutions and business automation for the public and private sectors and

Century Group (CG) is a multi-operational company with interests and expertise in the full value chain of the oil and gas industry and non-energy sector in Nigeria.

Dayo Mustapha

As part of its Corporate Social Responsibility (CSR), Samsung Heavy Industries Nigeria (SHIN) is partnering with the Nigerian Institute of Welding (NIW) to participate in the Worldskills International Welding Olympics 2021, which holds in Shanghai, China.

The initiative is part of the efforts by SHIN to contribute to the development of the welding industry and empower youths by training them in skills in high demand for a rapidly developing economy.

A statement by the firm said entrants for the Worldskills Olympic will be carefully selected through a National Welding Contest– the first ever in Nigeria.

The event will be organised by SHIN in collaboration with NIW.

SHIN will also contribute further through donations to the entrants and to the contest itself.

The memorandum of agreement marking the collaboration is to be signed at the end August.

It said: “Active participation in such events also goes a long way in redirecting focus on the country, allowing Nigeria to compete with other countries in the world.

“Given the current uncertainties around events, if the National Welding Contest does indeed take place in November as planned, SHIN will also provide the facility at its Welding Qualification Centre as the venue of the contest, free of charge.”

Thirty six promising participants will first be selected from the tertiary institutions in Nigeria to enter the National Welding Competition 2021.

Winners will receive the NIW Certificate of Participation, National Skills Qualification Certification and IIW certification (International Welder Diploma) to have the opportunity to enter the Worldskills Olympics in 2021.

READ ALSO: Samsung unveils innovations for shipbuilding

In addition to this, as part of their CSR, SHIN is working closely with the Embassy of Republic of Korea to explore possibility to hold CSR events involving an exclusive hands-on welding training course for Nigerians particularly aimed at low income and vulnerable Nigerians

SHIN aims to equip the trainees with skills that would enable them to not only to compete in the future editions of the National Welding Contest/ Worldskills Olympics but also allow them to be employed as welding trainers in the near future.

“SHIN believes in the immense potential of the Nigerian youth and want to grow together with the country,” the Managing Director of SHIN, Jejin Jeon, said.

The skill transfer and welder training School of SHIN has been responsible for hundreds of certified welders working in different fields in Nigeria.

Apart from training hundreds of welders, they have also been responsible for the induction of new welding types into Nigeria.

The most common welding type in Nigeria is the Stick also known as shielded Metal Arc Welding but Samsung and its initiative have trained Nigerian with other welding types, including the MIG-Gas Metal Arc welding (GMAW) and Laser Beam welding (LBW) among others.

Our Reporter

Timeliness serves as a compelling reason why news ought to be accredited. This is because when information is sent punctually, they become Just in.

This, Instaview9ja, an electronic media of laudable accomplishments, has achieved in terms of meeting up with factual contents and news. The new media was established on the 1st of May, 2020.

The online media is most zealous about news reportage, timeliness, accuracy, transparency, and integrity as being ethical in reporting news, without hindrances.

They find some of the world’s wealthy influencers such as; Mark Zuckerberg and Elon Musk as mentors.

Its stated objectives are to ensure accuracy and timeliness in correspondence to the five W’s and H (Where, Why, When, Who, What and How) these connote the useful tools that cover the basics in news dissemination. Hence, to be a veto online media vested with the power to practice ethical standards in line with journalism.

Instaview9ja has successfully created a social media space on Instagram where its followers would be updated on the latest news and information across the globe. Its plans hover on incorporating entertainment and educative contents into news reportage, and also the creation of a website where first-hand news would be served.

Additionally, the media brand sees Mark Zuckerberg, and Elon Musk as iconic mentors who are on the world’s leading rank of wealth.

It is no longer news that Bitcoin has gained traction all over the world in recent years, as more people are beginning to understand how it works while looking out for stable investment options. However, with African countries categorized as underdeveloped, there are questions whether cryptocurrency would thrive. These questions do not have far-fetched answers, as the digital currency Bitcoin has also been trending in Africa, with Nigeria taking a greater share according to Google trends.

While Africa generally seems to be behind when it comes to investing, many more people in Africa are beginning to expand their wealth of knowledge to make the most of investments both locally and internationally. This has led to an increased interest in Bitcoin in recent years across African countries.

Lack of education might be the major barrier in getting Africans, especially the older ones, to adopt better into the system. However, Bitcoin has been simplified over the years and made accessible to more people across borders due to the improved technology and introduction of advanced software. The bitcoin revolution login, for example, is secure and the software makes it easy to trade Bitcoin and win more trades than ever before. There are also several tools available today to make the process seamless and Africans are gradually able to get on the train with no hassle.

The Eco Currency

A large group of West African countries has a plan to adopt a single fiat currency called the eco in 2020. This was agreed after a meeting in Abuja held in June. According to a recent report on Bitcoin News, “the ECOWAS leaders will collaborate with the West African Monetary Agency (WAMA) and the region’s central banks in order to speed things up for 2020 adoption. Eco is not going to be a digital currency nor will it use blockchain technology and the new fiat reserve aims to bolster cross border trade”.

Considering how unstable the economy is in most African countries, using a single fiat currency for several nations sounds positive to correct the instability and help more Africans build a better financial status.

The Surge

A recent report shows that Bitcoin is seeing increasing popularity in South Africa. One of the spokespersons, Greenspan, affirms that “In South Africa, the number of new users trading bitcoin through eToro rose by 671% from January to the end of November last year over the same period in 2016, more than the 574% overall growth,”. The report also claims that as of 5 January 965 BTC was traded in a single day at a rate of R212,000.

Jil Okeke

Chief Executive Officer of Mascot IT, an ICT firm, Agbolade Omowole has warned of an imminent global recession post COVID-19.

Agbolade, who made this known during a two- day virtual meeting by Mascot IT to help Nigerians navigate through the storm that lies ahead, challenged Nigerians to prepare for what lies ahead of the global pandemic.

Adeniyi Ifetayo, Media and PR consultant to Prince Ned Nwoko foundation owned by international lawyer and philanthropist, Ned Nwoko, pointed out digital entrepreneurs should build a strong social media presence and master the art of pricing.

Executive Director of the Business Success Hour, Funsho Akin-Ojo said entrepreneurs can launch out and position their organisations ahead of the curve during the crisis.

A visibility strategist, Ajose Kehinde, believes entrepreneurs have to leverage the traditional media, adding that, social media does not rule out the place of traditional media.

According to him, “traditional media helps to build your credibility and positions you as an authority.”

 

Our Reporter

 

As Nigerians grapple with rising unemployment, CEO of fledgling forex trading firm, Leo Fx Academy, Mr Victor Iloka, has enjoined the populace to embrace forex trading to beat the scourge of poverty.

Iloka said forex trading would not only raise entrepreneurs but also kick-start economic activities after the COVID-19 lockdown.

Speaking during a virtual interview with business reporters, Iloka said while other sectors of the economy have gone downhill in the last six months , the forex market has been rewarding to the traders and investors.

The young CEO said: “The forex market in the last six months has been okay for me. I have been pushing forward. I can vividly recall that it was on October 16 that I hit my first $1000.

“So I now challenged myself that if I was able to push further that I would go far.  So I kept on pushing and improving.

“So the last six months with the pandemic now setting in, have been very rewarding.”

Harping on why Nigerians must embrace forex trading, Iloka, who faced a lot of challenges when he ventured into forex, said: “Nigerians must embrace it now that we have covid-19 pandemic because with the economic crisis, the majority of people have lost their jobs. The lockdown has affected all.

“Even those working are no longer making as much as before.  Everything has deflated to the last level. The borders are shut. The economy is grounded.

Read Also: Forex market scam: CBN gets nod to freeze suspects’ accounts

“Nigerians need to embrace forex trading to save themselves from poverty. Look at  South  Africa and compare the  exchange rate between South African rand and US dollars, you will notice that it is very okay,  flowing  very smoothly. But compare our naira to dollars, you notice that it rises and goes down arbitrarily.  It’s uncalled for.

“It’s painful seeing the currency of other countries in Africa doing better than ours. South Africa is doing well because forex is embraced by its government and people.

“By embracing it, the unemployment rate in Nigeria will go down as people would be owners of their destinies.  As a forex trader, I can’t work for a company in this covid-19 era,  I am making more money just by looking at my laptop.

“”People can’t make such even working for six months non-stop.  Youths need to embrace forex trading as it would push them forward and bring about a lot of changes to our country.”