The Nation Newspaper

Category: Infotech

  • ‘Use social media responsibly’

    The Senior Special Assistant to the President on Diaspora, Hon. Abike Dabiri-Erewa has called for responsible use of Social Media by Nigerians especially as the general election draws closer in the country.

    The former House of Representatives member offered the advice at the second edition of the Nigerian social media summit held in Abuja recently.

    Dabiri who was represented by her Special Assistant on Media, Mr Abdurahman Balogun said Nigerians should be able to make use of social media in a responsible way.

    The second edition of the summit was themed: Social Media as a tool for Social Governance, National Unity and Electoral Participation.

    Dabiri said Nigerians need to use social media to widen their scope as social media is beyond chatting.

    “Some people don’t know social media can be used as a source of living rather frivolous talks, ” she noted.

    She also cited the emerging importance of social media for electoral purposes , stating that the new media has continued to have influence on electoral matters in the country

    “Over the years ,we see results of election on social media even before the electoral body announces it, this has caused us lot of danger in the country due to overheating of polity and other issue, this needs to be watched”

    Also speaking at the event, the Chief Press Secretary of the Niger State, Mr Jibrin Ndace said social media should be a tool for national unity and should be used wisely.

    “The orientation must be changed towards social media. Politicians make use of social media during their campaigns because they understand the importance, so likewise Nigerians should orientated on what social media is and it is not, reaching out to the grassroots is very important , preaching stability is also important”

    Jibrin Ndace said that the choice of political party should not be a reason for disparity in the country

    “Nigerians should wake up, let’s move from the way we abuse ourselves on social media and move into the reality of making use of social media even with our peculiar differences”

    Read Also: Social media and national security

    “Ever since I became the Chief Press Secretary, Niger state has always been part of the best state which has never left any project unturned and pays our workers salary up till date” he added

    Panelists at the summit, Lukmon Fasasi(Founder ,Nigerian Internet Business conference), Jafaar Zubair(Director of Operations,Intellect9ja) , Gidado Shuaib (International Media expert and Editor in Chief news digest) also shared their thoughts on the use of social media.

    They said that the use of social media remains pivotal in the country while stating that barring its use will be difficult in Nigeria.

    The summit was chaired by the Minister for Communication, Barr Adebayo Shittu, .

    The organizers of the summit also unveiled plans to start a national digital and social media training program aimed at teaching Nigerians positive use of the social media for more economical benefits and more responsible use.

    The summit had participants from all over the country with participation from several other countries through social media platforms.

  • 50m accounts affected by security breach – Facebook

    Mr Guy Rosen, the Vice President, Product Management of Facebook says 50 million Facebook accounts are been affected by security issue.

    Rosen said in a statement on Friday, that in the afternoon of Tuesday, September 25, Facebook’s engineering team discovered a security issue affecting almost 50 million accounts.

    He said that the company was taking the issue seriously and wanted to let everyone know what happened, and the immediate action taken to protect people’s security.

    According to him, investigation is still in its early stages.

    ”But it is clear that attackers exploited a vulnerability in Facebook’s code that impacted ”View As”, a feature that lets people see what their own profile looks like to someone else.

    ”This allowed them to steal Facebook access tokens, which they could then use to take over people’s accounts.

    ”Access tokens are the equivalent of digital keys that keep people logged in to Facebook, so they don’t need to re-enter their password every time they use the app,” he said.

    The vice president said that Facebook had already fixed the vulnerability and informed law enforcement.

    He said that the company had reset the access tokens of the almost 50 million accounts in order to protect their security.

    Rosen said that Facebook had also taken precautionary step of resetting access tokens for another 40 million accounts that had been subject to a ”View As” look-up in the last year.

    He said that as a result, around 90 million people would now have to log back into Facebook, or any of their apps that use Facebook Login.

    According to him, After they have logged back in, people will get a notification at the top of their News Feed explaining what happened.

    ”We are temporarily turning off the ”View As” feature, while we conduct a thorough security review.

    ”This attack exploited the complex interaction of multiple issues in our code. It stemmed from a change we made to our video uploading feature in July 2017, which impacted ”View As”.

    ”The attackers not only needed to find this vulnerability and use it to get an access token, they then had to pivot from that account to others to steal more tokens.

    ”Since we have only just started our investigation, we have yet to determine whether these accounts were misused or any information accessed,” he said.

    Rosen said that the company does not know those behind these attacks or where they were based.

    He said that Facebook was working hard to better understand these details and would give update when it had more information, or if the facts changed.

    The vice president said that if the company found more affected accounts, it would immediately reset their access tokens.

    ”People’s privacy and security is incredibly important, and we are sorry this happened.

    ”It is why we have taken immediate action to secure these accounts and let users know what happened.

    ”There is no need for anyone to change their passwords. But people who are having trouble logging back into Facebook — for example because they have forgotten their password — should visit our Help Center.

    ”And if anyone wants to take the precautionary action of logging out of Facebook, they should visit the ”Security and Login” section in settings,” he said. (NAN)

  • Mobile app for aircraft accidents launched 

    A mobile App for monitoring and investigating aircraft accidents has been launched.

     

    The App will assist the Accident Investigation Bureau of Nigeria (AIB) with investigating aircraft accidents and incidents. 

    According to a statement, the App features a live reporting menu, whereby (pictures/videos) can be uploaded by any user who has witnessed events that could result in aircraft accidents. 

     

    “The application gives us a new and more convenient way to receive aircraft accident report in real time, thereby increasing promotional opportunities with push notifications and more, which depicts its core objectives of accident and incidence investigation reports.

     

    “This app will improve engagement with Nigerians by providing easy and open access to the bureau and its activities. It is flexible and easy to use. Our target is to reach more than 15 million air passengers annually within and out of the Nigerian airspace. Your swift reaction to any in flight incidents may be your patriotic contribution to preventing air crashes.”

     

    The APP is available for download both on Android and IOS users: http://AIB.gov.ng/app

  • Why Nigeria’s tech ecosystem shouldn’t be built exclusively with foreign capital

    I was privileged last week to join the closing gong event at the Nigerian Stock Exchange yesterday and to give a speech addressing the stakeholders of the Exchange. While we celebrate the inflow of foreign capital into local technology businesses, it is critical to consider both the long-term and short-term impact of this capital inflow.

    Joining the Honourees to sound the closing gong ending Trading for the day 31st August 2018.

    In the short-term, there is the supply of capital and the badly needed expertise/ non-financial support for technology businesses to thrive. This is critical especially in a market with poor infrastructure and a number challenges facing these businesses. Strategic counsel and expertise that comes with foreign capital are vital and necessary for the development of the local ecosystem.

     

    The potential of Nigeria’s Digital Economy

    Nigeria is Africa’s largest digital market and the 8th largest country in the world regarding internet users. More internet users than the UK, South Africa, Egypt, Portugal, Spain and Italy, obviously due to mobile penetration and the country’s population.

     

    Nigeria is 8th largest Internet Country (by the number of Internet users) in the world. https://www.internetworldstats.com/top20.htm

     

    This is both good and bad news. The good news is the size of the population/market with access to the internet while the bad is millions of unskilled/semi-skilled internet users with abysmally low purchasing power. Nigeria was recently crowned country with the world’s poorest overtaking India.

    What does this mean? It’s simple when you look at the literacy & unemployment rate and the average age of our population; millions of poor uneducated people with access to mobile internet from Nigeria will be potential nuisance to a connected world…..this is a Medium publication for another day.

    Let’s look at how the Nigerian digital economy is evolving.

     

    From the above chart, Nigeria straddles Break out (Countries held back by infrastructure deficit though with huge potential to join the Standouts) and Watch out (Countries facing significant digitisation challenges). Nigeria has vast digital possibilities and with the right policies and infrastructure, the balance could tilt significantly raising millions out of poverty while moving Nigeria to the standout league.

    The size of our digital economy or knowledge economy is enormous and potentially could be twice its current size within the next decade. The Nigerian economy of the future (a knowledge economy) should not be built with foreign capital alone; there must be a healthy mix of local and international capital.

    Foreign Capital is building the Nigerian Tech Ecosystem.

    Let’s look at the news headlines over the last seven days.

    Last Tuesday, Paystack raised $8m from some investors including Stripe and Visa, on Thursday UK Government announced 70 million pounds fund for tech and innovative start-ups in Nigeria during Theresa May’s visit. Yesterday our president signed a $328m facility for ICT development from the Chinese EXIM Bank. Funding this digital evolution shouldn’t be with foreign capital alone, there is need for a hybrid of local capital from private investors, crowdfunding sources, local banks, government grants and foreign capital. The much bigger technology companies could get listed on the stock exchange reflecting the maturity of the industry and strengthening investors’ confidence.

    While I do celebrate the good news received these past seven days, my favourite being Paystack (for obvious reasons), I cannot get past the fact that in one week over $406m in capital pledge is going into the technology sector from foreign sources.

    Downside of building Tech Ecosystem exclusively from external capital.

    Is there any potential downside to this?

    Of course.

     

    The downside in building the ecosystem with foreign capital exclusively will be visible in the long term. A knowledge economy wholly owned by foreign companies/stakeholders. Our intellectual capital, proprietary assets, data will be domiciled offshore, solutions to local problems will be owned and controlled by foreign companies. Tax on revenue made in country will be paid to foreign governments while profit will be repatriated offshore. Whoever owns technology determines who has access and how the politics of the technology could evolve.

     

    Whenever there is a change in technology usage by the society (which happens from time to time), there is a resultant impact on local politics   and culture. With allegations that Russia relied on technology to influence social and political changes in Europe and the United State still being investigated, it is critical to have these considerations today.

     

    Technology is powerful and has much more impact on a people and society than a lot of us can envisage. Whoever wields its power (inventors, shareholders and technology owners) are pivotal to the socio-political placidity of the society.

    This is why as a people, we must think, deliberate and work towards our technology autonomy, our technology future and have an understanding of the status quo what my friend Nkemdilim Begho refers to as digital colonisation.

    If the ecosystem is funded wholly by foreign capital, local investors will miss a great opportunity to sit on the table of the future economy. Interesting how Warren Buffet a seasoned investor admitted missing tech opportunities years ago because he didn’t understand the tech business model. Businesses need capital from any source so I will encourage wealthy individuals and organisations within the country to invest time and resources in building the local tech ecosystem.

    It is one of the reasons I accepted to co-find Greentree to provide support for early technology businesses to thrive.

    Nigerian Stock Exchange NSE is a viable option for the Tech ecosystem

    The local bourse, the Nigerian Stock Exchange has taken some steps to encourage listing for smaller businesses. From my initial conversation and listening to the CEO of the Exchange Mr Oscar Onyeama last week, I learnt this is of great interest to the exchange and some steps have been taken creating possibilities for technology businesses to get listed.

    An example of this is the Alternative Security Exchange and the requirements can be found here. A number of technology companies looking for capital have met these requirements.

    Budding tech companies should aspire to list someday and there are a number of benefits of listing.

     

    With the CEO of Nigerian Stock Exchange Mr. Oscar Onyeama

    Let me try to break this down. It is important to note there are minimum requirements for listing. The benefits are

    1. Access to Capital. This is critical especially in our market and being able to access capital unlocks the potential for your tech company. Do also note by listing your company more capital inflow from local and international investors is available creating value for your business and existing shareholders.
    2. Better transparency and Business Integrity. Due to the strict governance compliance requirements, your business becomes more transparent and sustainable de-risking the company further and ensuring longevity. The corporate governance framework is critical for long term growth of a business.
    3. Risk of Ownership is spread creating more value for the shareholders while eliminating key man risk which is a common problem in the local ecosystem.
    4. With more tech companies listing, more venture capital or early stage deals will be encouraged as there are potential for exit.
    5. Listing incentivises employees while motivating and improving value for employees stock options.

    Technology service and product companies like MTN, Interswitch, MainOne, Jumia, Iroko, Hotels.ng (great to see possibilities here), Piggybank, Wild Fusion, Andela, Farmcrowdy, Paystack, Anakle, Afritickets to mention a few could consider listing when they are ready to raise capital. Hopefully someday, creating opportunities for local and international investors.

    El Dorado will be a tech ecosystem built by international and local investors in a sustainable manner creating win-win scenario for all parties alike.

    Abasiama Idaresit

    CEO & Founder Wild Fusion Group, Director & Co-Founder Greentree Investment Fund (Tech-focus VC) and a firm believer in the rise of Africa.

     

  • Rack Centre achieves ISO 22301:2012

    Africa’s premium colocation Data Centre, Rack Centre, has achieved the ISO 22301:2012, a business continuity management certification, joining an elite number of data centre in the world to attain such a feat.

    Awarded by the globally recognised British Standard Institute (BSI), the certification is an attestation that the firm has evolved a robust and holistic system for business continuity management.

    The ISO 22301:2012 is designed to protect a business from threats to business continuity and proactively put plans in place ahead of time to prevent such threats impacting on the smooth running of that business or to keep the business running during crises and improve recovery time.

    The Managing Director BSI Middle East and Africa, Theuns Kotzé, said: “In today’s volatile world, understanding what it takes to ensure the survival and prosperity of an organisation can be more challenging than ever. By achieving ISO 22301:2012 Certification for Business Continuity Management, Rack Centre demonstrates its commitment to improve information resilience and minimize the operational impact of disruptive incidents. On behalf of BSI, I would like to congratulate Rack Centre for achieving ISO 22301:2012 certification and for your ongoing commitment to continual improvement.”

    Reacting to the feat, Managing Director, Rack Centre, Ayotunde Coker, said this is a key milestone for the firm and underpins management’s commitment to excellence and business continuity.

    To obtain the certification, Rack Centre partnered with Deloitte, the internationally recognised professional services firm which provided consulting, implementation and certification services. Reacting to the award, Deloitte said:  “We understand that this marks a turning point in Rack Centre’s journey in maintaining the competitive edge and customer’s delight. It had been a tremendous learning experience for us all and it is heart-warming to see all the hard work resulting in this success.’’

  • Tech firm, Cheetah Africa to support techpreneurs in Africa

    The Cofounder, Cheetah Africa, Lucky Uwakwe has pledged the commitment of the organisation toward creating a safe and enabling platforms for young techpreneurs and blockchain startups across Africa.

    Uwakwe made this known in an interview with The Nation at the launch of Cheetah Africa Fintech and Blockchain conference held in Lagos recently.

    According to him, Africa is gradually becoming a place for Fintech and technical innovations and Cheetah Africa is trying to promote the adoption and use of the blockchain to see that Africa rises from underdevelopment.

    “Africa is the new market. The scramble for this virgin land has started, and cheetah Africa is the quickest platform to meet African businesses by Africans, by building the most innovative products focused on fintech and block chain. we will no longer wait for the right time as the time is now. Every venture capital firm in the world should know that if they don’t invest in Africa now, they will pay the price of neglect later” he said.

    “the goal of Cheetah Africa is mainly to help startups get the awareness or the exposure with the international community, helping them get on board on this huge market that is out there. Cheetah is the fastest platform to meet Africa business by Africans. By building the most innovative product focused in fintech and blockchain startups”.

    “Africa youths has a lot of energy, and vibe and are looking for funds to drive their ideas; he said Cheetah Africa will now give them that exposure because Cheetah Africa will focus on trying to extract those foreign VCs, attracting them to people who love to invest in African startups”.

    In his keynote address, Executive Director, Paradigm Initiative and Africa’s Gbenga Sesan emphasized the need for African Startups to look beyond passion and skills by embracing the defining value of their products or services before it is introduction to the market.

    “the fact that the market does not only respond to genuine passion and dexterity of skills but to the market value of products, hence the need for young African techies to embrace personal branding and excellent branding if their products” he said.

    Earlier in his welcome address at the event, the Executive Director of Cheetah Africa, Nathaniel Luz said that the organisation will providing a workable and pragmatic support based for African startups through blockchain technology.

    He said that 60% of Africans are youths who have immerse innovative ideas that can make Africa great among the continent of the world but lack a well structure support base that will make their dreams fly.

    “we are losing our best youths in Africa because there are very few support systems to help young people make their dreams come alive. Our vision at cheetah Africa is to be the pool of African startups and innovations, providing them with the necessary support structures needed for global relevance, availability and competitiveness” he said..

    “We provide a platform for venture capitalists and investors to access the best of Africa ideas and products,” he said

  • Time for Africa to take advantage of Cryptocurrency – Kwakoo COO, Gideon Wanyoike

    Gideon Wanyoike is the Chief Operating Officer of Kwakoo market. A Crptocurrency expert and a Co-creator of Onyxcoin. He speaks with Shehu Olayinka about Kwakoo eCommerce market; Cryptocurrency and how it could be use to eliminate poverty in Africa.

    What brings you to Nigeria?

    I am in Nigeria to attend to our eCommerce market. We have a platform which is going to be the biggest in Africa. For the past 10 months, we have created an eCommerce platform that will have Crytocurrency as one of it payment models. Right now, digital or Cryptocurrency is now an important part of financial market. What we have now done is to marry the two together in our eCommerce platform. We will be the first eCommerce platforms using Crptocurrency as a payment model.

    What is Kwakoo market all about?

    Kwakoo market will be a platform where you can get any product you so desire and the advantage of Kwakoo market is that we have eliminated middlemen. The prices are not exaggerated and we are going to be using Cryptocurrency to discount product prices. So in Kwakoo market, anyone using our Crytocurrency called Onyxcoin as a payment model, will automatically enjoy 10% discount and 5% bonus for vendors selling at Kwakoo market and anytime they accept Onyxcoin as a payment method, they automatically receive a bonus. So it is a win win for vendors and the customers.

    What is Cryptocurrency about?

    Cryptocurrency is just digital currency. A digital asset whereby we are able to invest in them and able to use them as a medium exchange. The one currently in use is the one called fiat money. Money is just a medium of exchange and other functions of money is store of value and to have an account. Cryptocurrency actually is a better store of value, better medium of exchange because it is highly portable and it is a good form of payment models.

    Who can use Cryptocurrency?

    Anyone can use Cryptocurrency, but the challenge is that the way the technology is right now; people who understand how to use a Smartphone are those now able to use Cryptocurrency, while those who don’t know how to operate a smartphone will find it very hard to operate Cryptocurrency. So what’s happening right now is that anyone who can use the digital asset or Crytocurrency, is anyone who can use a Smartphone. Interestingly, huge percentage of the population are knowledgeable about the use of smartphones, so it becomes very easy for them to use Cryptocurrency.

    How do you intend to build trust, being that Africans tend to have problem with e-transaction?

    We are aware of the fact that in Africa, trading online is not that high and you can’t compare it with how it is being used in Europe. So what we are doing is that we have a eCommerce platform called Kwakoo market. Yes, we want to have an online business, also we want to have a bit of offline, because most Africans understand offline business more. So if we mix the two, offline and online, it becomes easier for them to do online transaction.

    How do you see your established competitors?

    Our model of operation is quite unique as compared to what other people are doing in the market. If you look at all the established eCommerce platforms, what they do is they try to give discount using the money they have. Let me give you an example of using using a Crytocurrency which we have created. We are operating in a different level because of Cryptocurrency. We can give out ten percent even 50 percent discount bonus because the Cryptocurrency we are using belongs to us. We clearly are not competing with anyone right now, as we have come out with a new product, new model and the only competition will be if people copy what we do, but actually the people in the market right now can’t compete with us.

    How old is Onyxcoin?

    Onyxcoin is a brand new company. It started operating January this year in Kenya. The eCommerce platform is set to be launch in August 2018. What we are currently selling is Cryptocurrency. We already have offices in six African countries (Kenya, Tanzania, Uganda, Zambia, Rwanda, DRC) and with intending Lagos, Nigeria office, we will have seventh offices across seven countries in Africa. This happened inside four months and you can see that the growth rate is quite good.

    Which other payment platform will be available apart from Onyxcoin?

    Most people understand what is called Bitcoin, when you tell people about Cryptocurrency, the only thing they are aware of is Bitcoin, but after Bitcoin, there exist more Cryptocurrency. Why people tend to have that impression is that Bitcoin pioneered Cryptocurrency, but after Bitcoin other Cryptocurrency had been created and we are talking about more 2000 Cryptocurrency and Onyxcoin is one of them.

    What about card payment and pay on delivery?

    We are not only using Onyxcoin as a payment model, we will also allow people use cards, use money. The only thing is that if people use Onyxcoin as a payment method, they get discount, but if they can use other payment method, they buy at a full price. So what is happening is that people will be attracted to use Onyxcoin as their payment method as they are looking for a discount. We are not saying people shouldn’t use their card or cash for transaction.

    Going back to the trust issue, how do you intend to work on trust since Africans have problem with e-transaction?

    We are the first Cryptocurrency to have physical offices. Let me give you an example, when we talk about Bitcoin or another Crytocurrency, most of them are actually online and nobody knows where their offices is located and they don’t even put up offices in Africa or any other places. But Onyxcoin has been able to put up physical offices across Africa and that shows you how serious we are, because we are here for the long time. Which is why we are setting up offices so that people can check us in our offices in countries we operate

    What got you attracted to Crytocurrency?

    I got attracted to it because it is a new invention and if you look at what happen with technology. The internet when it came, the people who took advantage of it, you will find out that most of them are from North Americans and United State. Africa lost that opportunity to take advantage of the opportunity that came with the internet and if you look at it right now, all the big companies that are technologically base are actually from North America. Africa is behind when it comes to technology and when we saw the invention of Cryptocurrency, we knew we are not going to be left behind, if you don’t take advantage of this industry while it is in its formative age, down the line you won’t be able to catch up with those who went into it early and that’s why we also thought about going into it early.

    What’s the advantage of Cryptocurrency

    The advantages of Cryptocurrency are much. The biggest advantage of Cryptocurrency which normal people understand is the deflation nature of Cryptocurrency. Deflation is whereby a currency gains value overtime. The money we use which we call fiat currency, loses value overtime. So Cryptocurrency work differently and Cryptocurrency mostly gain value overtime and two, Cryptocurrency is not constrained by borders. If I want to move money to somewhere abroad, you will have all those issue of exchanging to the currency of the other country and during that transaction you lose money, but Cryptocurrency is borderless, as you can transfer money to anywhere in the world because it is technology and you are using the internet for the transaction. Three, Crytocurrency is secure in the sense that if you have your money in your wallet, maybe stored in your laptop, computer or smartphone, it means that when you have the money and you are able to secure your wallet, nobody can take it away from you. It is more secure than the normal cash and one thing more unique about Cryptocurrency is that Cryptocurrency is coming to create new money. What that means is that it is able to emancipate huge population from poverty, because now we are creating new money and lastly it is the most portable form of currency we have right now in the world.

    Future of Cryptocurrency in Africa?

    I am actually going to talk about it future in the world. Right now, all indication have it that Cryptocurrency is the currency for the future and Africans can’t afford to be left behind because we will be losing big time if we did. Cryptocurency is the future money and there is no debate about that and all the cash, what we also call fiat money is something that in the next ten to twenty years will be obsolete. Cyrtocurrency is the future of currency in the world.

    What do you mean by Crytocurrency eliminating poverty?

    Let me give you a simple example. If you look at most African countries, the biggest employers is the government. So what does the government do, it employs people, gives them salary and then they tax them. What that means is that the government is operating like a creator of value. If people are able to acquire this money and create value for themselves, what they have done is that they have actually lifted themselves from poverty and now can participate in buying of goods and services simply because they have the currency. Another angle to look at it from is the success of Bitcoin. Bitcoin started in year 2009 and in less than ten years it is valued around $120billion, so what exactly has happened is that Bitcoin has created value for money and the people who are involve in Bitcoin currently, actually acquired it for a value less than a dollar and they have been able to acquire money and value. So what if we in Africa do the same thing, by creating a currency and overtime it gains value and that currency is distributed to the populace in Africa. Exactly what that means is helping people come out of poverty’

    Do you have any plan of educating people about Onyxcoin (Cryptocurrency)?

    Yes, we have actually being doing that, Right now we have done seminars in Lagos, Benin city, Onitsha and we are also going to be doing another in Ibadan. This is exactly what we are going to be doing in every other African countries, educating people about Cryptocurrency. The most important thing for any invention is for people to understand it and that’s why we are educating people about it.

  • Is free Wi-Fi the new competitive advantage?

    Loyalty programs have become a regular staple in the retention strategies of most Nigerian businesses – whether big or small. Yet, the bulk of customers, especially those of a service business, want much more than the momentary appeal of coupon codes and loyalty points.

    In a world where consumers are bombarded with a flurry of product options at neck-breaking speed, brand loyalty can seem like a camel passing through the eye of a needle.

    But businesses that differentiate themselves from the competition often stand a better chance of rewriting the rules of the game, eventually grabbing a substantial share of the market. So, apart from offering generic incentives as a way to shore up loyalty, businesses could raise the stakes a few notches higher by offering a critical and sustainable solution to the customer at no extra cost.

     

    Today, for instance, discerning businesses are fast hopping on the free Wi-Fi train, a model that has already influenced about 49% of business and leisure travelers to choose one hotel over another. This shift in brand preference is not peculiar to the hospitality industry alone. In 2015, a joint survey by Air Tight Networks and IHL Group, showed that 27.5% of retailers saw a significant spike in repeat purchases and rising loyalty levels due to the deployment of free, in-store Wi-Fi service.

     

    Nigeria, despite ranking number one in internet affordability in the 2018 Inclusive Internet Index by The Economic Intelligence Unit (EIU), broadband access remains a luxury for many people and businesses who rely on broadband connectivity to meet both personal and business obligations.

     

    Why you should offer free Wi-Fi to customers

    For businesses in the service segments, especially restaurants, lounges, bars and merchant locations, moving a customer from a fickle fan to a die-hard follower can seem daunting, considering the plenitude of options and competitive offerings that are always available to the customer. But a clearly articulated retention strategy that zooms the lenses on meeting the consumer’s intrinsic needs can be a game changer.

     

    For most consumers, particularly Generation X and Millennials, the availability of a Free Wi-Fi service at a favorite hangout location remains the perfect icing on the cake – one which not only guarantees a sense of satisfaction, but one likely to prompt several comebacks. Executed correctly, as seen in the hundreds of businesses that have embraced free Wi-Fi offering, this incentive remains a sure-fire way to grow footfalls, exceed customers’ expectations and improve retention.

     

    Against the age-long notion of what influences buying behavior, customer experience is racing fast to outpace price as the single most essential differentiator in the marketing mix. According to a 2017 study by Gartner Inc, a world’s leading research and advisory firm and member of the S&P 500, customer experience is the new battleground where a brand either fortifies its competitive advantage to stay relevant or become weakened by the realities of the external environment, including changing customer expectations.

     

    In 2014, research by one of the world’s largest Wi-Fi service platforms, Devicescape, showed that 62% of customer-facing businesses recorded a significant growth in foot traffic and higher customer spending, following their introduction of a complimentary Wi-Fi service to the customers.

     

    “The survey results show how important the provision of customer-facing Wi-Fi has become for retail businesses. The availability of Wi-Fi is no longer an innovation limited to the large retail chains—small businesses are now offering the same services in their establishments, for both employees and customers. In the near future, small businesses will consider Wi-Fi as fundamental to their success as electricity or running water,” iGR founder and President Iain Gillott said in his reaction to the study.

     

    The Red Cheetah advantage

    In March this year, lovers of fast and reliable internet services woke up to the launch of Red Cheetah Free Wi-Fi in Lagos, a digital lifestyle offering from the stable of SWIFT Networks Limited. The service, which is currently available at over 400 top locations, including Barcelos, Hard Rock Cafe, Tastee Fried Chicken, Sweet sensation, SLOT, 3CHub, amongst others, aims to reach an initial 10,000 locations across Lagos in the short term.

    Supported by advertising revenue from leading partners and global brands, many Nigerian businesses have found the platform an indispensable tool for attracting new customers and retaining existing ones. The Managing Director and Chief Executive Officer of SWIFT Networks Limited, Mr. Charles Anudu, urged Nigerian businesses to maximize the Free Wi-Fi service as a valuable incentive to drive customer retention and improve the bottom-line.

    “As a critical enabler of economic growth and access to opportunities, we believe that brands that embrace Red Cheetah will take the early lead in distinguishing themselves and ultimately be the biggest winners in the race for the heart and loyalty of the millennial customer,” he stated.

    Alasa wrote from Lagos

  • How Nigerian Startups Win US$25,000 @Visa Everywhere Initiative Johannesburg

     Nigerian startups CredPal and Zowasel have emerged winners in the Merchant Payments and Financial Inclusion challenges Sub Saharan Africa (SSA) Everywhere Initiative, a global program aimed at startups and designed to encourage the development of the next big thing in payments.

    Their winning solutions beat 10 other contenders selected from 238 submissions to emerge as champions.

    The SSA program was structured around three real life business challenges:

    1. Merfirst-everents Challenge: How to enable smaller merchants to accept payments in-store digitally ORProvide a safe and secure solution for online merchants to drive eCommerce and reduce cash on delivery?
    2. Social Business Payments Challenge: How can startups use Visa’s APIs to leverage mass reach and social media partner platforms like Facebook to help businesses operating in fast-paced consumer centric environments improve cash flow and receive payments?
    3. Financial Inclusion Challenge: How can startups leverage technology to provide services that are functional for illiterate customers to provide them with secure transaction experiences that build and enhance their confidence in the banking system?

    Nigerian startup, CredPal, won the “Merchant Payments” challenge and US$25,000 for its solution that allows business and individuals to pay for purchases in installments across online and offline merchants by providing them with instant access to credit at the point of checkout. The merchant then fulfills the order and is paid in full while the customer pays CredPal back in fixed monthly installments.

    Zowasel, another Nigerian startup, developed a solution which connects under-financed smallholder farmers with investors via mobile phone-based P2P lending and marketplace sales, as well as gives them access to best agricultural practices. They won in the “Financial Inclusion” challenge. The SSA edition of Visa’s Everywhere Initiative is also the first time that startups have been given a challenge specific to financial inclusion since it was launched in 2015.

    Mookh Africa developed a social business payments solution which makes it easy for people in Africa to buy and sell on Facebook, Instagram, and Twitter. Once the seller creates an online store on Mookh, they can embed it into their Facebook page.  The Kenyan startup won both the “Social Business Payments” challenge as well as the overall prize for its idea. The company took home US$50,000 and the opportunity to work with Visa to develop the concept further.

    Geraldine Mitchley, Senior Director – Digital Solutions, sub-Sahara Africa at Visa, said: We have had the privilege of working with some of the best minds in the region over the last few months and the selected three category winners have the potential to truly change the way people pay in the region. We congratulate Mookh Africa, CredPal, and Zowasel and thank all the finalists for participating in the Everywhere Initiative.”

    She added: “The future of digital payments will be shaped through collaboration and we look forward to working with our startup partners to transform the payments landscape over the coming years to the benefit of consumers, merchants and issuers alike. It’s an exciting time in Africa’s payments and fintech space.”

    Oluwakemi Okunsanya, General Manager: Visa West Africa, said: “Visa is proud to play its part in Africa by enabling a smart economy powered by secure digital payments. This vision comes to life when we can collaborate with passionate minds and foster an entrepreneurial ecosystem where innovators can thrive.  Today, we saw this passion and innovation first-hand; and we are excited to build on the technologies that have secured the top positions in each of these challenges. Together with Visa and our financial institution partners, we would love to see at least some of these become a reality for consumers in the near future.” 

    Carmen Whatley, Managing Director, Accenture Digital Financial Services and one of the judges for the final said: “VEI is a very powerful initiative. Africa is always made to feel like the lost continent and today we saw what is coming out of the continent. It was mind-blowing and a reminder that good ideas are everywhere. I am energized. It was amazing for me to see that we had a panel of judges who came from very different backgrounds and looked at this from very different angles; and we unanimously decided on the winners. There were very clear, innovative ideas; or ones with phenomenal social impact. All the winners have incredible ideas for Africa – from opening up access to finance for customer, to linking up small farmers with financers – biggest highlight has been seeing these ideas and their social impact.”

    Visa’s Everywhere Initiative is a global program designed to support the company’s goal of fostering the growth of next generation payment technologies. This is the first time Visa has rolled out its Everywhere Initiative in Sub Sahara Africa and shortlisted fintechs from Kenya, Nigeria, South Africa, Uganda and Zambia took part in the final pitch event. To date, nearly 2,100 fintech startups from across North America, Latin America, Europe and Asia have participated.

  • Africa: Opera News hits 10million downloads with World Cup features

    The Nation can report that weeks into the Ongoing FIFA World Cup, Opera News browser has reached a milestone of 100 million downloads in Africa countries alone.

    The news app experienced a spike in the after the launch of football World Cup channel and other football-related features.

    According to results from AppAnnie from June 2018, Opera News is the most downloaded news app in Nigeria, Kenya, Ghana, South Africa and Tanzania.

    Tech and football in one place

    The spike in Opera News downloads is a result of the app’s introduction of new World Cup features, which keep football fans up to date with the results of the largest football competition in the world. They can now follow live scores as well as tables and fixtures of the group stage and the knockout stage.

    “We are extremely excited to see that more than 10 million people across Africa chose Opera News, making it the No. 1 ranking news app on the continent,” said Jørgen Arnesen, Global Head of Marketing and Distribution at Opera. “Africa is crazy about football and so are we. That’s why it’s a pleasure to update Opera News with features designed for football World Cup fans”.

    Opera News users can also follow their favorite teams thanks to an improved “Follow” feature in the app. It allows them to get more personalized information about their favorite teams.

    “The app becomes more and more personal and makes it easier for users to find all the information they need about their favorite teams,” said Arnesen. “Opera News users will always get fresh and new content related to the World Cup thanks to our AI technology which gathers top articles for them.”

    A light companion for everyday life

    The lightweight Opera News app not only provides users with the best news and articles but also saves storage space on devices. In addition, Opera News saves up to 80 percent of mobile data, allowing users to read more and watch more videos while consuming less data.

    Available for download

    Opera News is available for download from Google Play in 16 languages.