Category: Tech

  • Logistics hailing app launches to bridge gap in dispatch services

    Logistics hailing app launches to bridge gap in dispatch services

    A Nigerian tech startup, Scope Digi Communication, has introduced a new logistics app, Gbera, poised to address issues that border on dispatch services in Lagos and other parts of Nigeria.

    Ayobami Adefajo, the founder of Scope Digi Communication, said Gbera which was founded in January 2021, but would be officially launched on December 20, 2021, is available to logistics companies to help them secure more customers, both individuals and organisations who are major players in the industry.

    Adefajo added that the app will also help connect the logistics companies to independent dispatchers.

    “Just like Uber, Bolt etc, Gbera is majorly on logistics companies and solely on delivery but not limited to motorbikes; van, buses among others will also be deployed,” he said.

    He explained that Gbera is an easy-to-use dispatch hub with app available on both android and iOS.

    Adefajo said: “Gbera app caters for the everyday delivery needs with just a push of a button.

    “We have a user-friendly mobile app that connects dispatchers in major cities with users to deliver economical delivery services in just a few clicks for a variety of user groups, from companies to individuals.

    “You can send parcels and track their progress, or purchase groceries and have it delivered on time.

    “For your convenience, Gbera’s all-new solution app integrates the parcel sending and ordering system services into a single app.

    “Sending parcels has never been easier. Simply choose a pick-up and drop-off location. You will receive an estimate right away.

    “You can then track the driver from pickup through delivery and share this information with the receiver and also get notified of any delay (gridlock, security checkpoint) from the dispatcher right there in the app.

    “Gbera functions as your personal delivery guide as we share insight on best prices, group delivery, same day delivery, scheduled delivery, truck rentals for moving good and properties.

    “Gbera is ideal for you to order whatever you want because we provide a variety of options. Our app caters for pick up and deliveries within Lagos and throughout Nigeria.”

    Logistics companies, according to the founder, are in for a better experience with Gbera when they sign up by filling their details on www.gberang.com.

  • YouTube Music backs two Nigerian startups dedicated to boosting Africa’s creative economy

    YouTube Music backs two Nigerian startups dedicated to boosting Africa’s creative economy

    YouTube Music on Tuesday reaffirmed its commitment to supporting African creative voices by providing financial grants, capacity development training and advisory to two organisations that nurture African creative talent and export it.

    In keeping with YouTube Music’s commitment to the development of the African creative industry, Briteswan and iManage Africa Entertainment Limited will receive support to help them scale up their initiatives to develop music creatives on the continent.

    This move is set to directly impact an estimated 300 participants in initiatives led by these organisations.

    • Briteswan’s ‘The Audiogirl initiative’ seeks to economically empower women by closing the gender gap in the music creation segment

    • iManage Africa Entertainment Limited’s ‘Music Business Academy for Africa (MBA)’, is an initiative dedicated to developing a more informed and empowered workforce for the African music and entertainment industry

    “We are committed to exporting African music to listeners across the world and want to continue to play our part in the development of the continent’s rapidly growing creative economy especially with respect to music”, says Addy Awofisayo, YouTube’s Head of Music, Sub-Saharan Africa.

    Access to the internet has opened up opportunities for African creatives to display their talents to a global audience, thereby, creating jobs that can boost national economies.  In Nigeria, the creative industry accounted for roughly 730 billion Naira (roughly 1.8 billion dollars) of Nigeria’s GDP in 2020. Through this initiative, YouTube will enable the two organisations to scale their ongoing work to help more young African creatives learn and acquire the skills to improve their craft and export their music to the world.

    “The rise of Nigeria’s globally celebrated musical artists points to the opportunities that exist in the creative economy. As we work towards the post-Covid 19 recovery of industries, it is important to be intentional about unearthing brimming talent and potential among creatives – many of whom are young people. YouTube Music’s dedication to the growth of music creatives in the region is well-timed and commended”, says Sunday Dare, Nigeria’s Minister of Youths and Sports Development.

    Over the past few years, YouTube has helped spotlight African culture and export it to global audiences. Burna Boy who won the Grammy’s Global Music Award in 2021  with his album, ‘Twice as Tall’ and who  has now been nominated for the third time for a Grammy Award, was spotlighted by YouTube as an Artist on the Rise in 2018. In 2019, YouTube announced an initiative to support Nigerian artists in collaboration with Mr Eazi’s empawa Africa to support 10 local artists to develop their craft. Tems and Bella Shmurda were also selected to be part of YouTube Music’s international artist development program, Foundry  in 2020 and 2021 respectively.

    YouTube Music also deepened investments in Black communities by opening applications to the #YouTubeBlack Voices Music Class of 2022, aimed at enabling Black artists, songwriters and producers worldwide to commercialise their work. Eight African artists, songwriters and producers were admitted to the #YouTubeBlack Voices Music Class of 2022.

    “We see the support given to the two Nigerian pan-African organizations as a partnership for the advancement of music creatives in Africa who in-turn will be key players that contribute positively towards the emerging creative sector in the continent”, Awofisayo concludes.

  • Why Media Stakeholders Must Collectivise Against NBC’ Discretional Amendment of Broadcasting Code*

    Why Media Stakeholders Must Collectivise Against NBC’ Discretional Amendment of Broadcasting Code*

    By Lanre Arogundade and Tunde Akanni

    Recently, on Tuesday Nov 2,2021 the entire media community in Nigeria had the opportunity to reflect on its operating environment.  It was the commemoration of the UN’s International Day to End Impunity for Crimes Against Journalists.

    At one of such events held in Abuja, a notable player in the sector, Dapo Olorunyomi, publisher  of Premium Times was a key speaker. In plain language, he declared that the tirades against the media from the sitting government of President Buhari are incredibly worse than what we endured in the days of the brutal military government which, again, featured Buhari prominently especially with the notoriety of the Decree 4 of 1984 which impacted a most distasteful experience on the psyche of the media as well as the rest citizens till date.

    From the numerous documentations already done on the precarious state of press freedom in Nigeria by local, regional and international media, freedom of expression and human rights groups, the jury is already out there, and the fact that Olorunyomi spoke to, can no longer be denied.

    The danger is indeed real and one arena where it is dangerously playing out is in that of the deregulation of the broadcast media sector.

    As a new publication intended to serve as an advocacy tool is ready for a wide circulation, there can’t be a better time to rouse all stakeholders to action.  The publication, titled, Question Marks on the 6th NBC Code Amendments, details assorted reservations of stakeholders for seminal attention and appreciation not only to prosecute the current attack on the broadcast media but potential curtailment moves in the future

    Just as it was said in the unfortunate civil war period that ‘to keep Nigeria one is a task that must be done’, Nigerians now need to equally adopt the slogan: to stop arbitrariness and excesses of the National Broadcasting Commission (NBC) is a task that must be done.

    Herculean, no doubt, the task promises to be. But it is one whose accomplishment must be considered an urgent imperative so that businesses operating in the media and communications sector can flourish while freedom of the press and the rights of journalists are not unduly curtailed. In other words, the choice before the Nigerian public is either of these two: to push for a de-politicised and industry-friendly regulatory code for the broadcast sector; or to accept one that strangulates and perpetually holds the sword of Damocles over the sector and its players.

    Against the foregoing, some of the key amendments to the 6th edition of the Nigeria Broadcasting Code pose a few problematics especially in relation to the extent to which they could undermine democratic norms and standards and jeopardise the cherished values of broadcast sector liberalization and free enterprise economy.

    Consider the fact that section 2.127.2 of the Code seeks to confer arbitrary powers on the NBC to, among others, take-down or shut down a station for violating the provisions relating to web/online broadcasting without making any provision for stations that may be concerned to seek redress.

    Also consider the fact that the provisions of section 3.18.2 (e) and section 3.18.3 (a-d) constitute a usurpation of the functions and powers of the Nigerian Copyright Commission, with section 3.18.3 (d) being particularly offensive and anti-democratic as it seeks to oust the jurisdiction of the courts by making final the decision of Nigerian Copyright Commission on the issues referred to in the sections. Still about music, the provision of section 3.18.2 (e) does not consider the fact that not all artistic works are covered by or eligible for royalty.

    It may seem laughable, but under a democratic set up, the provision of section 5.6.1 is warning against the use of user generated content that may “embarrass individuals, organizations, government …….”.Won’t this limit citizen’s input into media content and the diversity that comes with such in information dissemination? Indeed, by including government among those that should not be embarrassed, the provision can intimidate the media while encouraging public officials to dodge the responsibility of accountability since they can always resort to the claim of being embarrassed. That is why it has equally been argued that the provision can undermine the obligation imposed on the media by section 22 of the 1999 Nigerian constitution to monitor governance and hold government accountable to the people.

    There are many other objectionable provisions in the revised code that may discourage further investment in the Nigerian broadcast sector while compelling those who have already done so to have a rethink. The movement of the regional headquarters of Twitter from Nigeria to Ghana should be a lesson in this regard.

    It was not for nothing therefore that assorted stakeholders took more than a passing interest in the controversial Code.

    There is no better time than now for us all to run ahead with the baton of the campaigns for the ultimate victory that we deserve.   It’s as much the battle for media professionals as it is for  all other citizens itching to have good governance in Nigeria where the press is alive to it’s responsibilities for the sake of our political and economic well being.

    *Being the edited version of our remarks at the public presentation of Question Marks on the 6th NBC Code Amendments Thursday Nov 11, 2021

    Lanre Arogundade is the Executive Director of the Lagos based International Press Centre, IPC, while Tunde Akanni, PhD, is the Acting Head of Journalism Department of Journalism of LASU.

     

  • Celebrating Excellence in Software Innovation: Aderonke Adebisi honored at Tech Innovators Award Ceremony

    Celebrating Excellence in Software Innovation: Aderonke Adebisi honored at Tech Innovators Award Ceremony

    On November 15, 2021, the tech world gathered to celebrate exceptional talent and groundbreaking solutions at the annual Tech Innovators Award Ceremony. Among the shining stars of the evening was Aderonke Adebisi, who received the coveted Software Innovation Excellence Award for her extraordinary contributions at SmartFlow Technology. This recognition was a testament to her pioneering work in reshaping the company’s technology landscape through the development of a cutting-edge, custom-built product that has redefined operations and workflows.

    Aderonke’s award-winning product, ‘FlowStream’, is a revolutionary system designed to replace SmartFlow’s legacy technology, delivering an innovative solution that has significantly enhanced the company’s performance. Unlike its predecessor, FlowStream is built to integrate effortlessly into various enterprise systems, allowing seamless data flow and providing real-time insights into asset management. This has not only streamlined workflows across departments but also empowered SmartFlow to operate with greater precision and speed in managing critical assets and resources.

    The transition from the old system to FlowStream has been transformational, allowing SmartFlow to enhance productivity, reduce operational delays, and improve overall user experience. FlowStream’s ability to consolidate complex processes into a user-friendly, robust platform has set a new benchmark for innovation within the organization, demonstrating how custom-built solutions can address specific business needs more efficiently than off-the-shelf software.

    The Tech Innovators Award is renowned for celebrating individuals and teams that challenge the status quo and create products that not only solve pressing problems but also anticipate future needs. Aderonke’s FlowStream exemplifies the forward-thinking approach that the award seeks to highlight. Her relentless pursuit of excellence, coupled with her ability to inspire and lead teams, has positioned her as a role model for those aspiring to leave their mark on the tech world.

    During her acceptance speech, Aderonke expressed her deep gratitude to the Tech Innovators Award committee for the honor and acknowledged her incredible team at SmartFlow Technology. She credited much of her success to collaboration, perseverance, and the unwavering support of her colleagues. She also spoke about the challenges she faced in the creation of FlowStream, noting that while the journey wasn’t easy, the determination to build something transformative kept her focused on the ultimate goal.

    “A great product is not built by one person—it’s the result of a team’s dedication, creativity, and resilience in the face of challenges. I’m incredibly proud of what we’ve achieved with FlowStream, and this award belongs as much to my team as it does to me. I want to thank SmartFlow for giving me the platform to innovate, and I’m excited to see what the future holds as we continue to push the boundaries of what technology can do,” said Aderonke.

    The event was attended by some of the most influential leaders in the tech industry, many of whom were quick to commend Aderonke for her achievements. The impact of FlowStream was highlighted by the attendees as a milestone in modernizing business operations, proving that homegrown innovation can be the key to solving complex problems in today’s fast-evolving business environment.

    As the award ceremony came to a close, Aderonke Adebisi’s recognition stood as a reminder of the power of innovation and the importance of empowering those with the vision and skill to drive change. Her Software Innovation Excellence Award is a well-deserved honor that marks her as one of the leading innovators in the industry.

    As we look to the future, Aderonke’s work continues to inspire the next generation of tech innovators. Her success story is one of perseverance, creativity, and leadership—an example of what is possible when talented individuals are given the freedom to explore, create, and push boundaries. We eagerly anticipate the next chapter in her journey and the positive changes she will continue to bring to the world of technology.

  • Saheed Akintayo receives data innovation excellence award by Tech Trailblazer Awards

    Saheed Akintayo receives data innovation excellence award by Tech Trailblazer Awards

    The Data Innovation Excellence Award by Tech Trailblazer Awards, a beacon of recognition for ground-breaking contributions in the technology sphere, once again cast its luminous spotlight on visionaries shaping the digital frontier.

    Among the most coveted accolades of the evening was the Data Innovation Excellence Award, an honor reserved for those whose pioneering work in data science and analytics has redefined industry standards.

    This year, the distinguished recipient was Saheed Akintayo, a trailblazer whose innovations have not only disrupted convention but also reimagined the very essence of data-driven transformation.

    For those acquainted with the intricate world of data science, Saheed Akintayo is a name synonymous with innovation and impact. Award candidates undergo a rigorous evaluation, judged on their creativity, scalability, and transformative potential. He has distinguished himself as a leader in the field, proving the limitless possibilities of data-driven intelligence.

    From his formative years as a data scientist to his current tenure as a Data Science Manager, he has continuously demonstrated an extraordinary ability to distill complex datasets into actionable, game-changing insights.

    His expertise extends across various industries, but perhaps his most lauded contribution lies in the realm of financial technology, where his machine-learning models have revolutionized fraud detection and risk assessment.

    These sophisticated algorithms have not only curtailed operational inefficiencies but have also empowered financial institutions to make more precise, data-backed decisions, ushering in an era of heightened security and trust.

    The grandeur of the award ceremony was befitting of the occasion, attended by an assembly of industry luminaries, forward-thinkers, and tech evangelists.

    As he ascended the stage to accept his award, the hall resounded with applause, a tribute not just to his achievements, but to the relentless pursuit of innovation that defines his career.

    In a speech that encapsulated both humility and vision, he attributed his success to his family and mentors who shaped his journey.

    “This honor is not merely a personal milestone,” he remarked. “It symbolizes the power of collaboration, the resilience to overcome challenges, and the immense potential of data to reshape our world.”

    He has remained a steadfast advocate for ethical data practices, championing transparency, fairness, and accountability in algorithmic development. His belief in AI has set a precedent for ensuring that data science serves as an instrument of progress, not just for corporations, but for society at large.

    The Data Innovation Excellence Award reaffirmed the escalating importance of data science in an increasingly digital era.
    His recognition stood as a compelling reminder that data innovation is not merely about number-crunching, it is about pioneering change, redefining industries, and unlocking new frontiers of possibility.

    As the night came to a close, one sentiment prevailed, Saheed Akintayo is not just shaping the present of data science, he is engineering its future, one algorithm at a time.

  • Take advantage of technology, singers advised

    Take advantage of technology, singers advised

    The Chief Executive Officer (CEO) of AJ Entertainment, Chukwuebuka Gabriel Ilochonwu, has charged musicians to rev up their production with advantages the technology has provided for timely growth in the industry.

    Ilochonwu, a music record label owner, popularly known as Ebuka, said technology has added beauty to the work of music production, and everyone in the business should endeavour to catch up with the opportunity this has provided.

    He said with software, music can be mass-produced in a way that the cost of production can be drastically reduced in other areas that used to gulp a lot of funds.

    “These days, one need not gather a crowd of backup singers before good music with a medley of different musical tones is produced with the right application of the technology available for its production,” Ebuka said.

    Read Also: Why afrobeat is special, by Davido

    The Ajegunle-born businessman, now based in the United States, said one of the areas which attention should be called into is in the financing, as according to him, “if the technology is available to boost and ease the pressure of work, it is not as if they are cheap, some are still expensive, but what it does for you is, once they are acquired, it makes the work easier.”

    He, then, appealed to the government at all levels to help the entertainment industry in the area of financing by creating opportunities for the stakeholders to access funds in form of grants or interest free loans so, both the raw talents and the industry collectively can be developed.

    Ebuka, the AJ Entertainment boss said within the past years of his business, he has successfully worked with influential artistes in the industry among whom are Blaqjerzee, Wizkid, Sarkodie, Tiwa Savage, Jaywon, Skiibii, Kcee, Efya, Mr Eazi, Harmonize, Diamond Platnumz, Tecno, Ice Prince and Gyakie.

    If everything is rightly placed with the opportunities now available in the industry, Ilochonwu believes that Nigerian artistes will rule the world.

  • Tensor – Redefining global finance with speed, intelligence and trust

    Tensor – Redefining global finance with speed, intelligence and trust

    Businesses are navigating financial transactions more efficiently with Tensor, a solution shaped by Kolade Makinde to eliminate inefficiencies in payments and global commerce. By integrating intelligent automation and real-time financial processing, it bridges longstanding gaps in speed, security, and accessibility, enabling seamless and confident money movement.

    One of the platform’s defining strengths is its ability to facilitate frictionless international payments. Many businesses struggle with delays, excessive fees, and regulatory bottlenecks when dealing with cross-border transactions. This solution dismantles these obstacles by enabling instant settlements, transparent cost structures, and dynamic currency conversion, ensuring businesses can operate seamlessly across markets without financial disruptions.

    Beyond just payments, tensor equips businesses with real-time financial intelligence. By analyzing transaction patterns, forecasting cash tensor, and identifying risks before they escalate, it transforms raw data into strategic insights. Companies can optimize liquidity, strengthen financial planning, and make proactive decisions that enhance profitability and operational agility.

    Security remains paramount in today’s digital economy, and this platform integrates advanced fraud detection that continuously adapts to emerging threats. By leveraging AI-driven risk analysis, the platform protects transactions from unauthorized access, fraudulent activity, and cyber vulnerabilities—reinforcing trust between businesses and their financial operations.

    What makes this innovation even more impactful is its commitment to inclusivity. While many advanced financial tools remain out of reach for smaller businesses, this solution democratizes access by offering scalable solutions tailored to enterprises of all sizes. Automated invoicing, seamless reconciliation, and flexible payout options empower startups and established corporations alike to manage finances with efficiency and ease.

    The user experience is equally intuitive, designed for businesses that need control and clarity at their fingertips. A streamlined dashboard provides instant access to payment statuses, transaction histories, and financial reports, ensuring decision-makers have the right information whenever they need it.

    Kolade Makinde’s leadership in fintech innovation is evident through tensor’s transformative impact. By solving complex payment challenges and enabling businesses to transact with speed and security, he is shaping the future of financial operations. This recognition not only highlights his contributions but also cements his influence in the evolution of global finance.

  • Strengthening Nigeria’s Cybersecurity: Akinsola Abayomi launches ‘Sentinel’ vulnerability management framework

    Strengthening Nigeria’s Cybersecurity: Akinsola Abayomi launches ‘Sentinel’ vulnerability management framework

    Setting a proper security framework is a step in the right direction for every organization that seeks to thrive in this current dispensation. To ensure effective cybersecurity, it is imperative to not only have a fast response system to attacks but implement structures that identify vulnerabilities. Named aptly for its role in vigilantly guarding against system flaws, Sentinel emerged from Akinsola Abayomi’s deep-seated commitment to addressing current challenges in Nigeria. Drawing on his extensive experience and foresight, he envisioned a comprehensive framework that would not only mitigate current threats but also anticipate future vulnerabilities.

    Vulnerabilities are weaknesses in a system that hackers can exploit to gain unauthorized access or cause harm. For instance, if a bank’s software has a flaw, it could be an entry point for cybercriminals. This product helps prevent this by continuously scanning and identifying these errors before they can be exploited. One of its standout features is the automated vulnerability scanning. This means that instead of manually checking for anomalies, it automatically scans the entire system to find any potential flaws. This process is fast and thorough, ensuring that no security gaps are missed. When a fintech company uses a new software update, it quickly checks this update for any loopholes and alerts the security team if anything is found. This allows the company to fix issues before hackers can take advantage of them.

    Another important feature is instant threat assessment. It not only identifies potential flaws but also assesses the level of risk they pose. It prioritizes these risks based on how critical they are, helping security teams focus on the most urgent issues first. It also includes regular updates and patches. Cybersecurity is always evolving, with new threats emerging constantly. It ensures that the latest security updates and patches are applied promptly to protect against the newest vulnerabilities. This proactive approach keeps systems up-to-date with current security standards.

    Its adaptive risk response capability allows the system to not only identify and assess shortcomings but also to adapt its response strategies based on evolving threats and system changes. When a new type of cyber threat emerges, it adjusts its scanning algorithms and assessment criteria to address these specific threats. This means that the system becomes smarter over time, learning from new developments and continuously improving its ability to protect digital environments.

    The continued impact and vast potential paints a bright future for the initiative. As the sector strives to meet up with the increase in digital activities and provide adequate coverage, there is no doubt that it will be useful to achieving these objectives.  This initiative is sure to shake the shores of Africa and the world with its ingenuity, practicality and simplicity.

  • Regina Daniels bags brand ambassador with Opata Efungwu

    Regina Daniels bags brand ambassador with Opata Efungwu

    Opata Efungwu, a popular media entrepreneur, has launched his latest tech solution remedy portal in collaboration with Regina Daniels as a brand ambassador.

    Remedy portal is an ecosystem of mobile apps for everyday use offering seamless, integrated and contextualised experience.

    The app aggregates multiple functions and offers simplicity and ease to users, a functional design and interaction of apps.

    The new app’s offerings include daily and trending news, scholarship for students, business funding for small businesses, job listing opportunities, digital courses on how to make money online, collaborative money saving among friends and family, loans for Nigerians and so much more.

    The app offers a bundle of multiple functions into one user experience that includes a range of daily services.

    Read Also: Firm unveils Paxful Earn

    The app’s capabilities include push notifications as important news breaks, as well as the ability to share stories on social media sites and inspire conversations.

    The wallet feature provides a simple way to pay and make free transactions to users within the app; changing the way consumers pay for everyday purchases.

    The collaborative saving feature also known as isusu is an exciting one because all over Nigeria within different groups it is common to see small contributory savings schemes where people contribute daily/weekly portion of their income to a collective, this feature takes the rigors of collating and payment off the team.

    Remedy Portal is also geared at improving lives and adding value to people with its scholarship business funding and loan features, by making opportunities for funding accessible.

    The app also updates users with latest job opportunity listings and aims to help boost your chances of getting hired with daily published vacancies from top employers.

    Remedy Portal is in negotiations with Leadway assurance to include life insurance as part of the services remedy portal offers, also with a reputable hospital to include online health services and consulting through the app and in time hopes to provide open an e-commerce platform with an escrow payment for users.

    CEO, Opata Efungwu, said: “Remedy Portal will be focused on providing job opportunities for people while working hard on other features until things take a perfect shape”.

  • Why Forex Trading Is on The Rise in Africa?

    Why Forex Trading Is on The Rise in Africa?

    According to a recent survey commissioned by Forexsuggest, regulated brokers across Africa have experienced a median growth rate of 21.35% between 2019 and 2020.

    While this increase is being largely driven in larger African countries such as South Africa and Nigeria (which are the two biggest forex markets in the region), we’re also seeing a significant uptake in emerging areas such as Zimbabwe, Kenya and Botswana.

    But why is forex trading on the rise in Africa, and why is Nigeria shaping up to be the dominant market within the region as a whole?

    • Increased Internet Penetration: While the market leading country Nigeria currently has a 47% Internet penetration rate, this is projected to reach 65% by 2025. This is indicative of the wider rate in Africa, creating a scenario where aspiring traders have far greater access to the forex market in real-time. In Kenya, the corresponding rate is 87.2%, and traders are leveraging this to seek out passive income streams through 2021.

     

    • Increased Marketing for Brokers: As technology has evolved to meet forex trading demand in Africa, so too brokers have been empowered to increase their marketing efforts. As the market has subsequently become more competitive too, we’ve seen more aggressive marketing techniques deployed, with lucrative welcome bonuses and access to universally recognised platforms such as the MetaTrader 4 central to such strategies.

     

    • The Impact of Coronavirus: As the coronavirus took hold through 2020 and the first half of this year, people throughout Africa were confined to their homes for extended periods of time. This, combined with the intermittent closures of regional economies, left people searching for passive income streams through the comfort of their own homes, with the forex market offering a viable option for young and old residents alike.

    The Rise of Forex Trading in Nigeria and Zimbabwe

    Forex trading first became popular in Nigeria during the 70s, when residents saw a spike in their disposable income following a crude oil price boom.

    Demand has increased further since this time, especially as the Nigerian economy has evolved and continued to diversify.

    A similar trend has evolved in Zimbabwe, despite the challenges posed by ongoing hyperinflation and the monetary policies used by the central bank to try and mitigate the effects of this.

    These are two of the fastest-growing forex markets in Africa, which in turn has created a wider service industry and subsequent economic growth. For example, an individual by the name of “Bossy Welly” is said to have coached 2,000 aspiring traders over the course of the past five years in Zimbabwe, with some students as young as 14.

    This is contributing to the next generation of traders while helping investors to avoid potential scams and commit their money to viable endeavours.