E-Financial
Creating International Growth Opportunities for Tomorrow’s Unicorns
By Stephen A. Newton, Managing Director at Aleph, Africa
It’s become increasingly impossible to deny that we live in an increasingly global world. Today, nearly 65% of world -wide consumers are connected to the internet. Africa having around 570 million internet users, combined with various technological advancements, is driving a wave of change in how entrepreneurs and businesses operate.
Stephen Newton, Managing Director, Sub-Saharan Africa, Ad Dynamo by Aleph
Decades of innovation – culminating in the launch and widespread adoption of social media; the availability of high-speed internet globally; and the rapid integration of generative artificial intelligence; have created new channels for local entrepreneurs and advertisers to grow their businesses. Entrepreneurs, who were once confined to trading within their local community, or best, their single market, can now leverage technology to access opportunities available through global, cross-border trade.
The nature of cross-border trade is already having a seismic effect on emerging economies. According to the World Bank, the digital economy contributes more than 15% of the annual gross domestic product (GDP) globally, and in the past decade has been growing at two and a half times faster than physical world GDP. In several African countries, the digital economy is becoming a main driver of growth, accounting for more than 5% of GDP. Helping to ease the pains associated with cross-border payments, Aleph has built and is now offering its own service, Aleph Payments. Aleph Payments, has managed over $2bn worth of total cross border credit and payments across multiple international markets. Building on Aleph’s near 20 years of experience as a trusted operator, Aleph Payments provides an end-to-end, cross-border credit underwriting and payments solution that supports global expansion.
For ambitious entrepreneurs looking at the wealth of opportunities available on the distant horizon through digital, it’s seemingly never been easier to do business. Businesses can engage customers through tailored advertising on social media platforms and through internet searches, 24 hours a day and seven days a week while using data and analytics to better understand their customers. However, the open and ‘always on’ nature of today’s trading environment means that it’s also hyper-competitive for businesses. Businesses need to excel in more than one aspect of their marketing mix: price, promotion, place, or product, and have the constant threat of being trumped by a larger, well-resourced player.
For some, the idea of launching your own digital business can come with complexities – a case of not knowing where – or how – to start. For those who take the plunge, resilience, overcoming the everyday challenges of managing and growing a business and keeping up to date with the latest trends in advertising is key.
Creating a business and accessing international growth opportunities through digital channels shouldn’t be difficult. We believe more needs to be done to help businesses participate in the digital economy and unlock significant economic value.
That’s why we’ve unveiled Aleph – a strong, single brand that brings together the technologies, local teams, and global reach of brands including Ad Dynamo, Connect Ads, Httpool and IMS. Simply, Aleph is an ecosystem of global digital experts and technology-driven solutions that enable the growth of digital marketing. We connect thousands of advertisers with billions of consumers and create markets for local businesses to grow. Designed with digital marketing at its core, Aleph has evolved to focus on [four key pillars] that address the challenges facing businesses—and consumers—at various stages of their growth journey or understanding of digital marketing.
At a foundational level, Aleph’s Digital Ad Expert offers a free skills-based education platform that gives each student the skills they need to manage digital advertising campaigns and unlock growth. It provides resources, courses, and networking opportunities, and has certified more than 75,000 people from 140+ countries in short courses. Nigeria leads the way in Sub-Saharan Africa with an impressive 149,018 registered participants in the Digital Ad Expert program, followed by Kenya with 24,709 registrants, Ghana with 23,999 registrants, and South Africa with 9,419 registrants. As a platform, it gives consumers around the world the tools they need to drive growth for businesses – or better still, capture growth opportunities through digital marketing for their own business. That’s why we were delighted to join UNESCO’s Global Education Coalition, and specifically support UNESCO’s Global Skills Academy, an initiative that aims to help ten million young people build skills for employability and resilience by 2029.
That’s where Aleph Express comes in – Aleph’s proprietary platform that enables micro, small and medium-sized to create and maintain a free ecommerce website, create a product catalogue, set discounts and coupons, local delivery options and record and process orders. Like Digital Ad Expert for commerce, it gives entrepreneurs all the tools needed to launch their own online store. It’s currently available in Nigeria but is highly scalable and will be rolled out more widely in the future.
Once at scale, Aleph’s core digital marketing business can then help businesses tell their story to the wider world. Through our existing partnerships with the world’s largest platforms, we create meaningful opportunities for brands to engage with consumers in an authentic way, while at a significant scale – often in multiple countries simultaneously. Our local teams across all continents support and provide insights to advertisers to equip them with the latest know-how to make the most of their media investments.
As the world evolves and the ways that businesses operate change, there is a level of responsibility for larger businesses to move with the times and do what they can to support smaller, ambitious, and possibly high-growth businesses. And, in today’s global world, that means breaking down barriers in place of international growth opportunities.
By doing this, we will help a new wave of small businesses flourish, create new jobs and economic value, and possibly uncover the next global unicorns in the process. From our perspective, there’s nothing to lose in helping businesses access global commerce.
Federal government has started new efforts to improve tax collection in the Federal Capital Territory (FCT) and stop the problem of multiple taxation.
Mr. Taiwo Oyedele, minister of Finance and coordinating minister of the economy, disclosed this after a meeting with Nyesom Wike, minister, FCT, on Sunday.
According to Oyedele, the meeting focused on strengthening cooperation between the Ministry of Finance and the FCT Administration to support development projects in Abuja.
A major part of the discussion was how to improve tax administration in the territory.
He explained that the proposed tax harmonisation would create a more coordinated tax system, reduce the burden of multiple taxes on residents and businesses, and improve government revenue collection.
Oyedele said the plan is in line with the new tax reform law and is expected to help accelerate development across the FCT.
“The two ministers also reviewed plans to harmonise tax administration within the FCT,” he said.
He added that the initiative would eliminate multiple taxation while ensuring that government revenue is collected more efficiently.
The meeting also examined ways to strengthen collaboration on infrastructure projects across Abuja.
According to Oyedele, discussions centred on supporting the FCT’s ongoing infrastructure renewal programme.
He commended Wike’s approach to development, noting that the minister has focused on completing long-abandoned projects rather than starting new ones.
Oyedele said this strategy is helping to unlock economic and social benefits for residents by bringing stalled public projects back into use.
The proposed tax harmonisation is expected to make tax administration easier for individuals and businesses operating in the FCT while aligning Abuja’s revenue system with the provisions of the new tax reform law.
Standard Bank Group has identified Nigeria and four other markets as strategic growth hubs as it seeks to tap into $15.4 billion revenue opportunity driven by expanding small and medium-sized enterprises (SMEs) and rising intra-African trade.
The bank disclosed the plan through Bill Blackie, the Chief Executive Officer of its Business and Commercial Banking (Standard Bank Group) division, who outlined the lender’s growth strategy in an interview with Bloomberg.
Under the strategy, Standard Bank will deepen its presence in Nigeria, Ghana, Kenya, Uganda and Tanzania while consolidating its dominance in South Africa. The five markets account for about 85 per cent of the estimated revenue opportunity available to the group’s BCB operations.
The expansion forms part of the lender’s broader ambition to accelerate earnings growth through 2028, leveraging increasing demand for banking services among businesses across the continent.
According to Blackie, the BCB division has recorded robust growth over the past five years, supported by rising business activity and greater demand for financial services across Africa.
He said the division doubled both headline earnings and return on capital between 2020 and 2025, with return on capital increasing from 19 per cent to 38 per cent during the period.
Earnings from operations across the continent also expanded at an average annual rate of 30 per cent.
Building on this performance, the bank is targeting compound annual growth of between eight and nine per cent through 2028, although Blackie expressed confidence that growth could reach double-digit levels as the strategy gains traction.
A key pillar of Standard Bank’s growth strategy is expanding support for SMEs and mid-sized businesses, which account for most enterprises across Africa.
The bank is particularly positioning itself to benefit from opportunities created by the African Continental Free Trade Area (AfCFTA), which is expected to accelerate economic integration and cross-border commerce across the continent.
According to the International Trade Centre, nearly half of Africa’s small businesses export to other African countries, compared with only 14 per cent of larger firms, underscoring the critical role of SMEs in driving regional commerce.
The lender is also leveraging its extensive African footprint and strategic partnership with the Industrial and Commercial Bank of China (ICBC) to attract businesses seeking access to international markets, particularly China.
The National Insurance Commission (NAICOM) has handed over the management of African Alliance Insurance Plc to a newly constituted board nominated by shareholders.
The move ends a regulatory intervention that rescued the troubled insurer from the brink of collapse.
The development marks a major milestone in the insurance industry’s efforts to strengthen policyholders’ protection and restore confidence in the sector, following months of intensive regulatory oversight aimed at stabilising the company.
NAICOM had stepped into the affairs of African Alliance Insurance in October 2024 after the insurer was hit by severe liquidity constraints, mounting annuity payment arrears, unresolved claims obligations, regulatory infractions and reputational challenges that threatened its survival and eroded public trust.
Speaking at the handover ceremony, Commissioner for Insurance, Olusegun Omosehin, said the intervention had achieved its primary objectives of restoring operational stability, settling outstanding liabilities and protecting the interests of shareholders and annuitants.
Omosehin said a successful turnaround demonstrates the regulator’s commitment to safeguarding the insurance industry while ensuring that policyholders do not bear the consequences of corporate distress.
He also highlighted the significance of the newly enacted Nigerian Insurance Industry Reform Act (NIIRA) 2025, describing it as a game-changer for the sector.
The Commissioner observed that had the fund been in existence before the African Alliance’s crisis, it would have helped to cushion the impact on policyholders by facilitating the timely settlement of legitimate claims and annuity obligations.
He charged the new board to uphold high standards of corporate governance, transparency and regulatory compliance, while prioritising prompt claims settlement, sound solvency management and prudent business practices.
Industry stakeholders view the successful rehabilitation of African Alliance as a test case for regulatory intervention in Nigeria’s insurance sector, particularly at a time when operators are under pressure to strengthen their capital base, improve governance standards and rebuild public confidence.
During its tenure, the NAICOM appointed an interim board to restore liquidity through the recovery of trapped dividend funds and other inflows, settled a significant portion of annuity arrears and legacy claims, facilitated the transfer of the company’s annuity portfolio, completed forensic and actuarial reviews and addressed several regulatory and operational challenges.
Galaxy Backbone @ 20, Unveils New Identity
ALTON Backs CBN on Local Data Hosting Rule for Banks, Fintechs
MTN Nigeria Commits to Ethical Conduct with IFRS S1, S2 Compliance
NDPC to Review Data Law to Address AI, Privacy Concerns
FG Moves to End Double Taxation
CBN Extends PoS Geo-Fencing Enforcement Deadline to August 2026
London Strengthens Global Investment Ties with Africa @ First Ever London-Africa Business Summit
FG Targets Alleged N3tn Capital Flight, Opens Airtime Credit Market to Nigerian Fintechs
Japan, UNESCO Boost Digital Learning in 15 CoEs with Donation of ICT Equipment
African Electric Vehicle Platform Raises $215m to Scale Electric Mobility in Nigeria, Others
Telecom3 days agoTikTok, ICC Gather Nigeria’s Entrepreneurs to Drive Small Business Growth and Digital Transformation
E-Business3 days agoPayaza Launches AI-powered Storefront Platform to Drive Cross-border Commerce
Telecom3 days agoNigeria Moves to End Solar Imports as NASENI, REA Seal Major Renewable Energy Deal
Telecom3 days agoHow a New NITDA-TikTok Partnership Could Transform Thousands of Nigerian Businesses
E-Business3 days agoFG Bans Use of Gmail, Other Personal Emails for Civil Service Operations
E-Financial3 days agoNAICOM’s 18 Months Management Spill @ African Alliance Ends
E-Financial3 days agoStandard Bank Targets $15.4b SME Growth in Nigeria, Others with Trade Expansion Drive
General News3 days agoIndwelt Studios Seeks Increased Awareness @ World Sickle Cell Day