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Local SMEs Show Tech Trends Will Make or Break Businesses in 2016
There is nothing or little small about small businesses anymore. Cloud and collaboration tools have made it possible for many businesses to compete against large enterprises.
In fact, a recent study by BetterCloudMonitor shows that small businesses are adopting the cloud more quickly than larger enterprises, which means they will adapt faster and enable employees to work anywhere at any time at a fraction of the cost.
Last year, small businesses gained traction in both the Internet of Things (IoT) and big data. They also gathered momentum in mobile technology, made advancements in business intelligence, and made forays into mobile payments.
So what about this year? What new changes does technology have in store for small businesses?
Prediction 1: More Young Workers Will Do Their Jobs Virtually/Remotely
The BYOD trend will continue to thrive in 2016. This year it is expected that more young adults will enter the workforce via virtual jobs than through traditional posts in employer-owned workplaces.
To meet the needs and expectations of this younger workforce, SMBs will need to be increasingly flexible. Businesses that enable remote working, through both the policies they draft and the tools they provide, will be more attractive to the next generation.
Of course, there will still be offices and in-person meetings in 2016. In fact, a recent survey commissioned by Microsoft revealed that millennials find good team collaboration most valuable in their ideal workplace.
This underscores the need for advanced and secure technology. With tools like Office 365, small business owners can arm their employees with the technology needed for real-time collaboration — both in the office and away from it.
Office 365 also provides automatic monthly security updates, so small business owners can ensure they’re protecting their data and safely, enabling their remote workforce without even having to think about it.
Prediction 2: The Rate of Cloud Uptake Will Increase
Businesses will adopt the cloud without any legacy IT infrastructure. For example, Botswana Oil had major success by moving straight to the cloud, allowing them to overcome challenges such as limited resources, a widely-distributed personnel base, and pressure to start operating quickly.
“Cloud computing was my answer. The fact that we didn’t have to acquire much infrastructure to be able to deploy quickly was very significant. The cloud also provides a much less expensive way of managing ICT services.” Said Galeboe Mmelesi, ICT manager, Botswana Oil Limited.
Prediction 3: More Small Businesses Will Manage Their Operations Anytime, Anywhere From Mobile Devices
This year, mobility won’t be limited to the workforce. The very operations of small businesses will be increasingly mobile.
New apps, cloud storage and more powerful devices will allow business owners to run more and more of their business processes from anywhere.
This dramatically shifts the old paradigm of running a business, where you constantly feel stretched in multiple directions.
This year, more business owners will be able to perform all their tasks on digital devices. Whether it is joining a conference call through Skype, or using OneNote to co-author and -edit documents at the same time with other collaborators.
Finding Success
The technology available this year will allow small businesses to more effectively compete with larger competitors.
While it is clear that small business owners have to wear several hats, and weighing all the different possible technology investments can fall to the bottom of their priority lists, this is one decision that should not be postponed.
Often, it is small shifts, like adopting the right technology at the right time that can make all the difference.
DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.
In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
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