News
6 Mistakes Every Entrepreneur Should Avoid

Becoming a successful entrepreneur in a business terrain such as Nigeria is a venture fraught with peculiar challenges.
Considering the many little details that naturally go into setting up a business and nurturing it to a path of profitability and sustainability, many entrepreneurs can be forgiven for getting lost along the way.
However, ask any successful entrepreneur and you will discover that mistakes are a luxury an entrepreneur cannot afford.
These useful tips from the Research and Development Unit of Yudala – Nigeria’s pioneer online and offline e-commerce outfit – will guide you from making these costly mistakes that may mar your entrepreneurial journey.
Thinking you can do it all alone
As an entrepreneur, it is understandable to think that no one can sell your idea or product better or more passionately than yourself.
While this mindset may serve you well at the outset, this may significantly hamper your speed or lead to mental and physical fatigue/burnout, especially as you scale up.
Even if your Intelligence Quotient (IQ) rivals that of Albert Einstein, you will benefit from relying on the expertise and input of other knowledgeable hands, employees, consultants or partners. These reliable external influences can help provide the much-needed new perspective or fresh strategy that will help take your business to the next level.
This is also important for entrepreneurs who, out of force of habit, get stuck in a particular way of doing things simply because it works, without realizing that there might be a smarter, more efficient way to achieve better results.
Refusal to take pains before pleasure
This is a flaw that is predominantly rife among the new generation of entrepreneurs. Many have had their sterling entrepreneurial dreams cut short simply because they were not ready to start small and take pains before pleasure.
Entrepreneurship is a difficult, arduous journey; one that certainly requires steely discipline and in most cases, gradual growth.
Sadly, it is common these days to see many budding entrepreneurs embrace a flamboyant lifestyle at the first signs of success. If you choose to buy that expensive car or fly Business Class from the moment you close your first big deal, you may be making a mistake that could truncate your success.
For long-term and sustainable success, every entrepreneur must be ready to take the business through a structured incubation period in order to survive in a highly competitive knowledge-driven economy. This demands not only moral and financial discipline but a determination to make huge sacrifices.
Not allowing technology lead
The world has gone digital. In fact, we are approaching the Fourth Industrial Revolution, also described as Industry 4.0: an age in which a range of new technologies are expectedly fusing the physical, digital and biological worlds in addition to impacting all disciplines, economies and industries.
This is an age marked by emerging technology breakthroughs in a number of fields, including robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, The Internet of Things, 3D printing and autonomous vehicles.
Whatever the nature of your business, you will be struggling against an overwhelming tide if your business is not technology-driven.
The 21st Century entrepreneur is one that is not only technology-smart but willing to continually find new ways to automate his business. You definitely cannot keep up with competition if you don’t make the most of technology.
With the growing utility of the smartphone and other tech-gadgets, a number of opportunities have emerged, presenting refreshingly new ways for consuming goods and services. For smart entrepreneurs, these technology-enabled platforms also lower business costs and the barriers to create and sustain wealth.
Allowing sentiments cloud business decisions:
Sentiments or emotions have no place in business. The best and most successful entrepreneurs all have one thing in common: they are renowned for their bloody-mindedness when it comes to taking business decisions.
The ability to make effective business decisions is one that could spell the difference between brilliant success and dismal failure for every entrepreneur.
This is especially considering the fact that, as a business leader, you are bound to make loads of decisions every day that have a direct impact on your business, employees, customers or the marketplace.
These include hiring or manpower requirements as your success heavily depends on the competence of your employees; expansion plans, operational or financial decisions. Such sensitive decisions are best treated as they ought to: from the perspective of its impact and benefit to the business.
Poor marketing
Even if you operate in a niche market, the peculiarities of contemporary society and fickle attention span of potential consumers means that you must properly market your product, solution or idea for it to get accepted.
Unconsciously, many new entrepreneurs often make this mistake of erroneously believing that their products/ideas are so novel or unique that they can get away with a meagre effort at marketing.
For these ones, it is worth restating that the days of the maxim: “If you build it, they will come,” seems to be long gone. If you desire success as an entrepreneur, then you must admit the fact that your business must effectively invest in marketing. In addition to the word of mouth/free referrals that will come from constantly delivering great service, your business stands a better chance if you work out efficient marketing strategies that will necessarily accommodate content marketing, digital marketing, point-of-sales, promotional marketing, SEO, PR and paid advertising, among others.
Underestimating the importance of customer service
It is easy for entrepreneurs to forget one of the major reasons they remain in business: the customer. This mistake often creeps in when a business begins to acquire more patrons and success seems more within reach.
That is when the tendency to treat customers with levity begins to rear its ugly head, often with dire consequences for the unsuspecting business owner.
With access to the internet on the rise and social media coming to play a more important role in the swift dissemination of news and other information, you will be making a grave mistake underestimating the importance of keeping the least customer happy.
Your business can quickly go from being the darling of your patrons to trending on social media for the wrong reasons. Instructively, the vituperations of a disgruntled customer can erode months of goodwill you have built up.
Also, you must bear in mind that negative news spreads faster than good news. To avoid this pitfall, it is important to ensure that the channels of communication with the customer are kept open.
Feedback is essential and you can ask your customers to provide these through your interactions with them. This way, you can keep your fingers on the pulse of the customer, identify areas of weaknesses and understand the customer’s expectations.
News
UK, Nigeria Launch £15m Growth Programme to Accelerate Economic Transformation

The UK Minister for Africa and International Development, Baroness Jenny Chapman, has concluded a two-day visit to Nigeria, during which she announced a new £15 million Growth Programme, deepened cooperation on digital transformation and health, and visited communities benefiting directly from UK investment on the ground.

The visit, spanning Abuja and Kaduna, underscored the breadth and depth of the UK–Nigeria Strategic Partnership and marked a significant step towards both countries’ shared priorities.
The UK–Nigeria Growth Programme
The centrepiece was the meeting with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele. During their meeting, they discussed the new UK–Nigeria Growth Programme. Over three years, it will accelerate economic transformation, unlock private investment and support Nigeria’s transition from macroeconomic stabilisation to sustained, reform-led growth.
Alongside the Growth Programme, the UK announced deeper collaboration on Nigeria’s digital economy through the SPRIRET initiative, delivered under the UK’s Digital Access Programme. SPRIRET will support digital governance reforms across five Nigerian states, reducing regulatory barriers and enabling greater investment and innovation in broadband, digital services and emerging technology.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele said: “We continue to value the UK–Nigeria relationship, one of the most important partnerships for both our countries. Today, that relationship extends beyond traditional ties and now focuses on development, growth, and shared prosperity.
“The UK–Nigeria Growth Programme helps bring this partnership to life—supporting capital market development, technology investment, small businesses, and technical assistance. We look forward to seeing how these opportunities deliver lasting benefits and drive progress for both countries.”
Trade and bilateral ministerial meeting
During the visit, Baroness Chapman met with the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole. Discussions covered progress under the Enhanced Trade and Investment Partnership (ETIP), including boosting exports via the Developing Countries Trading Scheme, fintech and capital markets links.
Kaduna: building on two decades of partnership
In Kaduna, Baroness Chapman met with Governor Uba Sani to take stock of over 20 years of UK–Kaduna partnership and explore how cooperation can deepen shared priorities. She heard from the business community and key institutional investors about their investment aspirations and the role of the UK in supporting investment mobilisation and enabling climate finance.
She met with community animal health workers and livestock breeders to discuss the UK’s support on breeding techniques, animal health and livestock vaccines. She also visited Unguwan Sanusi Primary Health Care Centre, which serves approximately 20,000 people in Kaduna South, hearing directly from patients and frontline health workers about the impact of UK-supported health programmes.
At the end of the visit, the UK Minister for Africa and International Development, Baroness Jenny Chapman, said: “This visit has reinforced everything I believe about the UK–Nigeria partnership.
“That it is deep, it is real, and it is moving in the right direction. From launching our new Growth Programme with Honourable Minister Oyedele, to meeting from frontline health workers in Kaduna — every conversation this week has shown me a country full of ambition and a partnership that is genuinely delivering for both sides.
“Nigeria is a partner that the UK is proud to stand alongside and I leave more convinced than ever that the next chapter of this partnership is its most exciting yet. The UK is here for the long term, and we are ready to grow together.”
News
Mobile Internet Gender Gap Widest in Africa – GSMA

More than 810 million women across low- and middle-income countries (LMICs) remain offline, with Sub-Saharan Africa recording one of the world’s widest mobile internet gender gaps.

According to the GSM Association’s (GSMA’s) Mobile Gender Gap Report 2026, released this week, women in LMICs are still 12% less likely to use mobile internet than men, leaving an estimated 200 million fewer women connected than their male counterparts.
This is despite mobile internet becoming the primary gateway to the digital economy, according to new research from the GSMA.
The report reveals that of the 810 million women who remain offline globally, more than two-thirds live in Sub-Saharan Africa and South Asia −regions that continue to experience the widest disparities in digital access.
The findings highlight significant implications for Africa, and the challenges facing governments, mobile operators and development agencies seeking to expand digital inclusion.
The report notes that Sub-Saharan Africa’s mobile internet gender gap stands at 26%, second only to South Asia’s 25%. The divide becomes even more pronounced outside major cities.
“In LMICs, the gender gap in mobile internet adoption tends to be two to three times wider in rural areas than urban areas. In 2025, across all LMICs, the gender gap in mobile internet adoption was more than three times wider in rural areas than in urban areas.
“There is also a difference at the regional level, where the gender gap in mobile internet adoption is wider in rural than urban areas of LMICs in every region except Europe and Central Asia.”
For Africa, the rural challenge is particularly severe, the report warns.
The GSMA found that the gender gap in mobile internet adoption reaches 34% in rural areas of Sub-Saharan Africa, compared to 21% in urban centres.
Device challenge
Smartphone ownership remains a major obstacle to digital inclusion. The report found that women across LMICs are 13% less likely to own a smartphone than men, representing approximately 210 million fewer women with access to internet-enabled devices.
Across Sub-Saharan Africa, only 34% of women own smartphones, with the region recording a smartphone ownership gender gap of 22%, with access to internet-enabled devices remaining one of the most important factors influencing whether women eventually adopt mobile internet services.
“The type of mobile device a person owns matters, as it typically affects whether and how they use the internet. Once someone owns a smartphone, they are much more likely to be aware of mobile internet, adopt it and use it regularly and in a variety of ways. In fact, once women own a smartphone, these metrics more closely resemble those of men,” notes the report.
Barriers persist
Despite growing awareness of mobile internet and its benefits, women continue to face multiple barriers to meaningful participation in the digital economy.
The report identifies affordability, literacy and digital skills as the leading barriers preventing women from getting online.
Even after gaining access, women frequently report safety and security concerns, data costs and connectivity quality as obstacles to broader internet use.
The report notes: “Addressing rural gender gaps is essential to advancing digital inclusion for women overall. In particular, women who live in rural areas tend to have limited physical access to essential services and may have the most to gain from better access to mobile and mobile internet.
“Addressing gender gaps in mobile ownership, particularly of smartphones, and in mobile internet use can help women in rural areas benefit from these digital technologies to the same extent as men.”
Claire Sibthorpe, head of digital inclusion at the GSMA, warns that progress is not happening quickly enough and emerging technologies such as artificial intelligence risk creating new forms of digital exclusion.
“While there has been a slow narrowing of the mobile gender gap since 2022, much more is needed to address the persistent and significant gender gaps in mobile internet adoption and use.
“We live in an increasingly digital world and the proliferation of technologies such as AI are creating greater digital divides and inequities, elevating the need to ensure digital inclusion for all.”
News
Payaza Secures ‘A’ Credit Ratings from Moody’s, Agusto, DataPro, Intelligence Africa

Payaza Africa, a payments infrastructure company, has earned strong credit ratings from four major rating agencies, reinforcing its growing reputation as a resilient and credible player in Africa’s financial services ecosystem.

The payment company recorded upgrades across the board, with DataPro raising its rating from A to AA-, Intelligence Africa assigning it an A- investment-grade rating, Agusto upgrading it from BBB to A-, and GCR, an affiliate of Moody’s, also moving it from BBB to A-.
A credit rating reflects a company’s financial strength and its ability to meet debt obligations, indicating how safe it is for lenders and investors to extend credit.
In a statement on Monday, the company described the achievement as a validation of its disciplined growth trajectory and operational resilience in a dynamic fintech landscape. It added that the upgrades position Payaza as a future-ready brand with increasing relevance not only within Africa but also in the global fintech space.
Commenting on the development, Seyi Ebenezer, the Chief Executive Officer of Payaza Africa, said the ratings reflect years of deliberate effort to build a sustainable and globally competitive institution.
“This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving these upgraded ratings sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability,” he said.
Ebenezer noted that the recognition goes beyond financial performance, highlighting the company’s ability to execute strategically while maintaining strong risk management practices.
“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.
“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments, but as a maturing financial institution with the operational depth to compete globally.
“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” Ebenezer said.
Payaza Africa provides payment infrastructure solutions focused on collections, payouts, embedded finance, and digital commerce enablement for businesses across Africa.
The company has also continued to expand its product ecosystem with solutions such as Payaza Checkout for payment collections and payouts, Chat and Pay by Payaza for WhatsApp-based transactions, Payaza Give for donations and digital contributions, and Shopaza, its e-commerce platform designed to help businesses sell and receive payments more efficiently.
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