E-Business
5 Things You Need To Know About Scaling A Business In Nigeria
According to a PWC report, Small and Medium Enterprises (SMEs) account for 84% of total employment in Nigeria. This is no mean feat! Nigeria has arguably the largest startup ecosystem in Africa, yet, 80% of small businesses fail within the first 3 years of operation. From subpar products and services to poor cash flow maintenance, there are many reasons businesses are unable to withstand many of Nigeria’s wahala. In other words, to be a boss no be beans o! To help businesses beat these odds in a digital-driven world, ICT giant, MTN Nigeria supported the first edition of Techpoint Africa’s SME Clinic held at the National Theatre, Iganmu, Lagos. Experts across various sectors showed participants the intricacies of running successful businesses in Nigeria.
Here are five business tips that have been proven to improve business processes
Know Your Market: Learn how your audience operate and find out what they love. Do not force what you think is right down your target’s neck. According to Peter ‘PeteSocial’ Nwabuoku, Head of Business Development & Digital at Luzo DN & Media Ltd, it is important to establish communication channels with your audience and social media is the marketplace that many entrepreneurs do not realize they need.
Let Your Customers Feel Appreciated: A happy and satisfied customer is more likely to return than an indifferent customer. Collect your customers’ details, contact, and other information. Send emails thanking them for patronage, send updates on products that they have shown interest.
Debbie Akwara, Founder/Principal Customer Experience Consultant, Niche X, one of the speakers, shared guidelines on communicating with clients via social media, highlighting deleting negative comments as a major blunder. In her words, “don’t delete a ‘bad’ comment by a client on your site, instead, address it swiftly, because God help you if someone gets a screenshot and uses it against you later.”
Don’t Compromise on Quality: “Do not be selfish with quality when it comes to your customers and your service,” said Damilola Runsewe, Senior Manager, SME Management, Enterprise Business Unit, MTN Nigeria. He shared various MTN products that were tailor-made for Nigerian businesses such as Call Assist, a solution that gives business owners the freedom to manage incoming calls. It provides automated call handling solutions enabling entrepreneurs to improve productivity.
Participants got to hear about Hynetflex, a broadband internet solution that offers customers unmatched browsing and download speeds accessible via a high-speed internet router compatible with both 3G and 4G LTE networks.
Marketing And Advertising Speak Volumes: Digital media platforms have made it possible for entrepreneurs to target and find millions of potential customers from the comfort of their location. Twitter, Instagram, and Facebook have proven to be the most popular platforms for businesses to reach millions of people with most of them offering specialized services to help entrepreneurs promote their business.
Document Everything: Entrepreneurs can save a lot of money by simply storing all business documents digitally. Cloud storage services allow for this to happen, eliminating the cost of premium file cabinets and paper storage. One can access the documents from any location in the world reducing the need for personnel to scan and send such documents when required.
Do you have more tips for entrepreneurs that can transform their business and save it from becoming another statistic in the database of failed startups? Please share…
E-Business
NITDA, NIMC Partner for Seamless Data Exchange Capabilities
National Information Technology Development Agency (NITDA) and the National Identity Management Commission (NIMC) have announced a collaboration on National Public Key Infrastructure (PKI) and Digital Public Infrastructure (DPI) to enhance synergy between digital identity, payment ecosystems and secure seamless data exchange capabilities for Nigeria.
NITDA, which made the announcement on its X handle, said that the collaboration was to further strengthen Nigeria’s digital economy in line with President Bola Tinubu’s Renewed Hope Agenda,
During the meeting, Kashifu Inuwa, director general of NITDA, and Bisoye Coker-Odusote, director general of NIMC, with some management staff of both organisations, discussed various initiatives, which include building DPI stacks for a secured and seamless data exchange and forming partnerships to transform the national identity system.
This collaboration also aims to harness the potential of the innovative ecosystem and emphasise the use of public-key infrastructure (PKI) to drive digital transformation in Nigeria.
To ensure a smooth implementation, a 12-man committee was set up.
This committee will play a crucial role in kickstarting and harmonising the initiatives and is expected to deliver a comprehensive implementation report within the next 4 weeks.
E-Business
Expert Urges FG to Harmonise NIN, BVN to Tackle Crimes
Noble Ajuonu, head, Sydani Technologies Ltd., has urged the Federal Government to harmonise National Identification Number (NIN) and Bank Verification Number (BVN) to tackle crimes and insecurity in the country.
Ajuonu made the call at a media roundtable, organised by Sydani Group in Abuja.
The News Agency of Nigeria (NAN) reports that the roundtable focuses on driving sustainability through a comprehensive analysis of Nigeria’s key development areas.
Ajuonu said that Nigeria could overcome its security challenges and pave the way for a safer, more secure future for all Nigerians by embracing technology and implementing practical solutions,
“We need to harmonise data, prioritise seamless integration of databases like NIN, BVN, and security agency records, establish clear protocols for data sharing and access, with robust safeguards against misuse,’’ expert said.
According to him, the unified data pool will empower intelligence gathering and targeted operations.
He also called for investments in smart surveillance, intelligent video analytics software, training of personnel in data analysis, interpretation of data in real-time to combat crimes.
“There is need to implement a legal framework for call interception in criminal investigations, with strict oversight to prevent abuse, encourage community cohesion, training of tech savvy security personnel with tech-enabled tools.’’
Ajuonu also urged the government to address infrastructure deficit in technology, saying that technology was all encompassing to address insecurity.
“According to the National Identity Management Commission (NIMC), as of December 2023, only 104.2 million Nigerians had been enrolled for the National Identity Number (NIN).’’
Ajuonu added that over 122.2 million citizens left uncaptured for NIN were people in rural areas where enrolment centres, digital services were limited.
“Most crimes are being perpetuated from rural communities and this lack of comprehensive identification creates a gap where elements not captured in the national database can constitute public nuisance, crimes.
“There is the inadequacy in the integration of NIN, BVN and Voters Identification Number (VIN).
“Advanced call interception and analysis tools, used successfully in other countries, could provide invaluable insights into criminal networks and operations but infrastructure is lacking,’’ he said.
Also, Mr Godfrey Petgrave, the Agricultural Expert, Sydani Group, called for empowerment of smallholder farmers with access to finance and training to enhance productivity.
According to Petgrave, Nigeria requires policy reform and institutional strengthening to improve agricultural practices and embrace digital agriculture solutions to address food insecurity.
Mr Akolade Jimoh, another expert of the group on health, advocated for expanded community-based health insurance programmes for rural and underserved areas.
Jimoh added that the country needed to encourage Public Private Partnership to revolutionise products design and quality improvement on health services.
E-Business
Konga launches Infinix Brand Week with Incredible Deals
Konga, Nigeria’s leading composite e-commerce group, is thrilled to announce the launch of amazing deals at its Infinix Brand Week. Infinix, a leading global smartphone brand known for its innovative products and cutting-edge technology promises exclusive discounts and special offers on select smartphones, marking an exciting milestone in the realm of online shopping.
Shoppers can expect nothing short of extraordinary deals on a wide range of Infinix products, all available exclusively on the Konga online platform. With discounts of up to 30% off, this partnership between Konga and Infinix aims to redefine the shopping experience for tech enthusiasts across Nigeria.
Konga Brand Week has become synonymous with excitement and unbeatable deals, and this year’s edition is no exception. In addition to exclusive discounts on Infinix smartphones, shoppers can explore a diverse array of products across various categories, including electronics, fashion, home essentials, and more.
“At Konga, we are dedicated to providing our customers with the best shopping experience possible,” said Rita Ohaedoghasi, VP Marketing at Konga. “The Infinix Week during Konga Brand Week allows us to continue delivering on that promise by offering incredible discounts and special offers on some of the most sought-after smartphones in the market.”
To stay updated on the latest developments and exclusive deals during Konga Brand Week, shoppers are encouraged to connect with Konga across all platforms, including social media and the Konga website. Don’t miss out on this opportunity to score big savings and elevate your tech game with Infinix and Konga.
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