E-Business
African Businesses Can Compete Globally With Cloud Technology
By Opeyemi Olaniran
If you are still struggling to grasp what exactly the cloud is and why it will completely change your business, here’s a simple explanation.
If you’ve ever experienced the mind-numbing panic that comes with being unable to access important business documents stored on your laptop – perhaps your PC was stolen or damaged – then you’re already halfway to understanding the importance of the cloud.
In truth, the concept of cloud is much easier to grasp than you might think. Instead of storing your programmes, documents and data on your computer’s hard drive, you’re storing them on the internet. That’s it.
It is estimated that cloud data centre traffic in the Middle East and Africa will grow 4.4-fold by 2020, at a compound annual growth rate of 34% from 2015 to 2020 (Source: Cisco’s Global Cloud Index). Looking at the benefits of the cloud, it’s easy to see why it has quickly become an invaluable tool for businesses, large or small.
The first advantage is that it is safer in the cloud.
While there was initially confusion around cloud safety, the reality is that your data is more secure when it’s stored in the cloud than it is, sitting on your hard drive.
Think about the example of the missing laptop – if your company data is stored in the cloud, you can continue to access it, with or without that laptop, because you can access the internet from anywhere on any computer.
In terms of the security of the cloud itself, established service providers like Microsoft have a wealth of resources at their disposal to ensure their cloud platforms remain safe. They can spend more money than people, small or large companies, and sometimes even governments can. In fact, Microsoft invests more than a billion dollars each year on security-related research and development.
In addition to this, migrating to the cloud ensures all-round cost saving. Frost & Sullivan predicts that companies investing in collaboration technologies increased productivity by as much as 400 percent. To understand the positive impact cloud can have on business, let’s look atRoyal Exchange’s recent migration to the cloud.
Royal Exchange is a broad-based insurance provider registered on the Nigerian Stock Exchange. By adopting Microsoft’s cloud platform, Azure, the company was able to record a 75% increase in its retail platform revenue.
Because companies don’t have the expense of setting up an actual physical server to store data, operating in the cloud save costs. The best part is that you only pay for what you need. For example, Azure pricing is based on the service you use and storage you need, and is calculated as a per-hour fee.
Companies that have already made a significant investment in on-premises infrastructure can also choose to adopt a hybrid cloud strategy. This allows businesses to store some of their data and software on a shared public cloud infrastructure while still making use of their own existing servers.
There are also operational savings to be made, as in the example of Royal Exchange, where they were able to cut down on thousands of annual software payments, such as those non-Microsoft packages used for security and operations management.
Furthermore, the cloud allows businesses work smarter.
What is particularly powerful about a cloud platform like Microsoft is that it can think for you. Not only is it able to store your data and draw insights from that data, but it can also help you foresee future problems and find ways of addressing them before they even occur.
The very nature of cloud also enables greater operational efficiency. For example, if you have multiple people needing to work on the same document, it can be difficult to keep track of which version is the latest and who made which changes.
With the cloud, all documents are saved centrally, enabling you to work smarter therefore ensuring that team members can collaborate from remote locations able to access, edit and share documents from anywhere.
Royal Exchange found this element of cloud capability to be a significant advantage. Through Office 365, they have been able to promote great information sharing and increased staff engagement, while cutting down on use of paper and supporting field agents with 24/7 availability.
Lastly, you are able to grow your business with ease.
Most businesses absorb the cost of computing resources, such as additional servers and software licences, which are on reserve in anticipation of future growth. However, cloud solutions are scalable – this means you can increase your resource capacity as and when you need it.
Adopting cloud provides a solid foundation from which companies can keep on modernising and optimising operations. There are many ways in which cloud can help your business. Taking the leap to transform your business can be scary but once you make the move, you’ll probably wonder why you didn’t do it sooner.
United Bank for Africa (UBA) Plc has announced a $100 million financing partnership with CIG Motors, Lagride and the Lagos State Government to promote urban mobility and financial inclusion through a scheme tagged “Drive to Own.”
Group Managing Director/CEO, United Bank for Africa(UBA) and, Chairman, LagRide, Chief Diana Chen, flagged by LagRide drivers, at the signing ceremony of $100 Million Expansion Facility, strengthening smart mobility, driver asset ownership of over 3,500 cars, financed by UBA in partnership with Lagos State Government and LagRide, held in Lagos on Tuesday.
The initiative, unveiled on Wednesday in Alausa, Lagos, will empower 3,500 drivers in the state by enabling them to own vehicles with an equity contribution of 10 per cent of the total cost, while the balance is payable over 48 months.
UBA’s Group Managing Director/CEO, Oliver Alawuba, described the scheme as transformational, noting that it would foster inclusive economic growth, support MSME development and create opportunities for the younger generation.
“This partnership with Lagride is transformational. It will drive inclusivity for economic growth and ensure progress for everyone,” he said.
Alawuba shared a personal story, recalling that his father worked as a driver and was able to fund his education through that income. He said the scheme would provide similar opportunities for many families.
UBA’s Head of SME Banking, Babatunde Ajayi, said the partnership reflected a rethinking of traditional banking models.
“Not every business has a shop. Some businesses have wheels. Every commercial driver is running a business, yet they have remained outside formal finance. We designed credit that fits their reality,” he said.
Chairman of Lagride, Diana Chen, said the company had built a data-driven and credit-ready mobility platform for drivers, stressing that transportation remained the backbone of Africa’s economic future.
“Lagride now stands as the most structured, data-driven and credit-ready mobility platform in Nigeria,” Chen said.
The partnership aligns the strengths of the three organisations, with UBA providing financial support, CIG Motors offering viable business opportunities, and Lagride delivering a technology-driven platform to ensure sustainable livelihoods for driver-partners.
E-Business
Check Point Reveals Nigeria as Second Most Targeted African Country for Cyberattacks in November
The November 2025 Global Threat Intelligence report released by Check Point Research on Tuesday, shows Nigerian organisations faced an average of 3,374 cyberattacks per week.
Making the country as one of the primary targets for cybercriminals in Africa last month, with a record of a staggering volume of digital threats despite an overall decline in attacks across the continent.
The report shows that this figure places Nigeria second among the four major African nations analysed, trailing only Angola, which topped the list with 4,251 weekly attacks per organisation.
While Africa as a whole saw a 13 percent year-on-year decrease in cyber incidents, Nigeria’s high numbers reveal a persistent vulnerability within its digital infrastructure. Kenya and South Africa followed Nigeria with 2,384 and 1,863 weekly attacks, respectively.
The report also identified government institutions and financial services as the most targeted sectors across Africa. Globally, the education and research sector remained the most frequent victim, hit by an average of 4,656 attacks per week.
A significant highlight of the report is the emerging threat posed by Generative Artificial Intelligence (GenAI). Check Point Research found that one in every 35 GenAI prompts submitted within corporate networks globally posed a high risk of sensitive data leakage.
In Nigeria and abroad, employees are increasingly using AI tools that operate outside of formal security frameworks. The report noted that 87 percent of organisations using GenAI were affected by ‘high-risk’ prompts, which often included the input of proprietary code, customer data, or internal communications into public AI models.
Ransomware continues to be a primary tool for extortion, with global incidents rising by 22 percent year-on-year. While North America remains the most targeted region for ransomware, the impact is increasingly felt in emerging markets like Nigeria.
The most active ransomware groups identified in November were Qilin, Clop, and Akira, which primarily targeted industrial manufacturing and consumer goods sectors.
JustMarkets, a worldwide broker with more than 12 years of experience in the online trading realm, is launching the Boost Contest, which represents a large-scale trading activity with the purpose of motivating traders, with the most proficient traders being awarded for their exceptional performance through a number of valuable prizes. This activity will last until the 31st of January, 2026.
JustMarkets
A Competition Developed with the Goal of Providing More Opportunities for Traders Worldwide
Boost Contest competition participants will be traders with Standard, Pro, or Raw Spread accounts of the MetaTrader 4 or MetaTrader 5 platforms.
To participate, traders will only be required to have a minimum account balance of $100 with a minimum of 3 traded lots. These were the requirements set for participants. Of course, the purpose of such a competition is for every broker client to participate. At the same time, however, JustMarkets sought to encourage traders to conduct in-depth analysis, different strategies, risk, and discipline. It was with this objective that this form of competition was established.
Multiple-tier rewards system with real gold
What sets the Boost Contest apart is the Weekly Lucky Draws component, in which traders compete for real gold prizes, awarded in three levels, based on their cumulative trading volume achieved through the competition:
Tier I (more than 100 lots): 15 grams of gold (3 winners)
Tier II (50-99 lots): Gold worth 10 grams (5 winners)
Tier III (10-49 lots): 5 grams of gold (7 winners)
This competition design thus provides traders with different levels of activity with the same opportunity of benefiting from valuable rewards.
Weekly Draws to Encourage Continued Participation
Apart from the top-level prizes, the competition also includes a series of weekly prizes. Traders participating in the competition will qualify for entry into the draw if they execute a minimum of three trades per week. Five lucky traders will be awarded $200 every week.
The introduction of the Boost Contest meets JustMarkets long-term obligations in:
Engaging traders through effective rewards programs
Fostering regular and organized trading practices
Enhancing transparency and integrity within all promotion endeavors
Offering a welcoming space where traders with different skill sets can participate
This reflects the purpose of JustMarkets, which is not only to offer traders good trading terms but also opportunities that add value to the entire trading experience.
A Global Platform Built on Trust and Innovation
As a globally recognized trading platform, JustMarkets continues to invest in initiatives that elevate client experience while adhering to high operational standards. The company maintains a robust technological infrastructure, offers multilingual support, and upholds strict security principles, all foundational elements behind long-term client trust.
The Boost Contest shows JustMarkets dedication to create a convenient and transparent trading environment where everyone can reach their full investment potential by clear rules, transparent rewards, and a stable trading ecosystem.
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