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Big Cabal Media Delivers Future Of Commerce II, Showcases Strength of Africa’s Informal Economy

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Over 5,000 people attended Big Cabal Media’s Future of Commerce 2022 event at the Balmoral Convention Centre in Lagos, Nigeria, last week. Tagged “Money on the Streets,” notable thought leaders around the continent and the world explored innovative ways in which startups and large corporations cater to the needs of Africa’s informal sector.

The hybrid event featured over 30 business leaders, technology experts, and commerce operators who discussed how social media, payments, and logistics are powering the growth of Africa’s commerce.

In his opening address, Tomiwa Aladekomo, CEO of Big Cabal Media, reiterated the company’s belief that the next wave of commerce on the continent is in unlocking value in the informal sector.

“The rapid evolution of fintech services is accelerating financial inclusion by driving efficiency, lowering transaction costs, and expanding outreach to new markets. We see this in a country like Kenya, a pioneer in mobile money services, where eight in ten adults have access to formal financial services,” Tomiwa stated.

Building on this, Tosin Eniolorunda, CEO and Founder of TeamApt, shared in his keynote address, the role technology must play in building trust in the informal market: “Businesses in the informal market have had several disasters while engaging with traditional corporate organisations, which has increased scepticism over time. To succeed, technological solutions must enable rapid settlements as well as decentralised and personalised customer service,” he said.

User adoption continues to be a challenge for most technology solutions including those developed to enhance financial inclusion. Dr Olabisi, Lead Research at KasuWaGo, recommended that these solutions must be simplified further to scale adoption. “We need to reimagine the use of technology for small businesses in the informal sector. Tech products could be built such that users won’t have to read much to interact with the app. That is a great way to scale adoption of such products,” he said.

With Africa accounting for 70% of the World’s $1 trillion mobile money market, mobile money is at the heart of Africa’s economic growth. This subject was discussed by speakers who unanimously agreed that mobile money will play a fundamental role in financial inclusion and market expansion opportunities for both medium-scale and well-established businesses.

Esigie Aguele, Co-founder and CEO of VerifyMe, commented on the business prospects and user integration of mobile money, saying, “Mobile money enhances the technological opportunities for all forms of payments and payment solutions. It enables us to go beyond open banking and create products that promote widespread financial inclusion.”

In addition to the deeply insightful sessions, attendees were able to network during breaks and were also entertained by the musical performance of Nigerian alte artiste, Bolaji Odojukan popularly known as BOJ.

Inspired by the recommendations from the Future of Commerce debut event last year, Big Cabal Media unveiled a “Commerce in Africa” industry projection report as one of the highlights of FOC 2022.

The Future of Commerce is an annual convergence of the world’s most prominent business executives, creative entrepreneurs, and interested enthusiasts to explore the key changes affecting how Africans buy and sell. It is hosted by TechCabal, Big Cabal Media’s flagship technology publication.


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FG Orders Installation of 5000 CCTV Cameras for Surveillance in Plateau

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President Bola Ahmed Tinubu has directed the immediate installation of 5,000 CCTV cameras across identified flashpoints in Plateau State as part of urgent measures to address the worsening security situation in the state.

FG Orders Installation of 5000 CCTV Cameras for Surveillance in Plateau

The President gave the directive during an emergency visit to Plateau on Thursday, where he held a brief stakeholders’ meeting at the Yakubu Gowon Airport following the recent killings in Angwan Rukuba, Jos, where at least 28 persons were killed by unidentified gunmen.

Tinubu also approved the formation of a delegation of key stakeholders to engage in further deliberations on lasting solutions to the security challenges in the state.

He condoled with families of the victims and directed that support be provided to cushion their losses.

President Bola Tinubu while expressing deep sympathy to families of victims said the installation of surveillance cameras was part of a deliberate move towards addressing the kind of attacks that befell residence of the recent attack in the State.

In his remarks, Governor Caleb Mutfwang appreciated the President’s visit and show of concern, but expressed worry over the recent wave of attacks in the state, describing the situation as disturbing and requiring urgent attention.

The meeting had in attendance, former Governors, serving and former National and State Assembly members, traditional rulers, government appointees as well as relatives of those killed in the Angwan Rukuba attack.


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FG Rolls Out N12Bn Digital Research Clusters to Boost Innovation Economy

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Federal Government yesterday unveiled a N12 billion investment in digital economy research, marking a strategic shift towards knowledge-driven development as Nigeria positions itself as a key player in the global digital landscape.

FG Rolls Out N12bn Digital Research Clusters to Boost Innovation Economy

Declaring the launch of the National Digital Economy Research Clusters under the Building Resilient Digital Infrastructure for Growth (BRIDGE) project, Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, said the initiative mobilises over 200 researchers from universities and research institutions nationwide to produce data-driven solutions for pressing national challenges.

Speaking at a press conference in Abuja, Tijani described the programme as an essential complement to infrastructure expansion, including the ongoing deployment of 90,000 kilometres of fibre optic cable across the country.

He stressed that sustainable growth in the digital sector now hinges on robust research, innovation and evidence-based policies rather than infrastructure alone.

“As Nigeria expands its digital economy, attention is shifting from infrastructure to the knowledge that drives it,” the minister stated, adding that the sector was emerging as a major contributor to national GDP.

The research clusters will tackle critical areas including connectivity, digital public infrastructure, skills development, job creation, online safety and emerging technologies such as artificial intelligence.

Tijani explained that the project aims to bolster Nigeria’s research capacity while ensuring local insights guide policy and technology adoption.

The Federal Ministry of Education is collaborating to synchronise academic research with national priorities and advance specialised training.

Minister of Education, Dr Tunji Alausa, underscored universities’ evolving role as hubs of innovation and problem-solving beyond traditional learning.

The BRIDGE project aligns with broader government strategies to promote digital inclusion, spur economic growth and elevate Nigeria’s competitiveness in the global digital economy.

Observers note that the programme’s impact will depend on effectively converting research findings into implementable policies across sectors.

For the administration, the message is clear: a resilient digital economy demands not just infrastructure, but the intelligence to power it.


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Myitura Launches Women-Focused Healthcare Financing Solutions to Bridge Access Gap

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In commemoration of Women’s Month, health-tech platform Myitura has released a new white paper addressing the critical gaps in healthcare financing for women in Nigeria.

Titled “Closing the Gap: Healthcare Financing for Women in Nigeria,” the report highlights how high out-of-pocket costs, limited insurance coverage, and socio-economic factors continue to prevent women from accessing timely healthcare.

According to the report, over 70% of healthcare expenses in Nigeria are paid out-of-pocket, disproportionately affecting women who often delay care due to financial and social constraints.

“When women can afford to take care of their health early, we don’t just save lives; we strengthen families, communities, and the economy,” said Chialuka Kelechi, MyItura’s Chief of Staff.

Key Insights from the White Paper:

  • Preventable conditions often escalate due to delayed care
  • Women are more likely to deprioritize their own health
  • Affordable, structured healthcare financing can significantly improve outcomes

Introducing a Women’s Health Initiative

As part of its commitment, Myitura is launching affordable women-focused health packages (powered by Mediloan), starting at ₦58,180, designed to encourage preventive care and early detection.

The package provides access to:

  • Fasting/Random Blood Sugar
  • Urinalysis
  • Electrolytes
  • Urea
  • Creatinine
  • Pap Smear Submitted slides
  • HIV I & II Rapid (Qualitative)
  • Hepatitis B Surface Antigen Screening (Rapid)
  • Hepatitis C Virus Screening (Rapid)
  • Abdominopelvic Ultrasound
  • Ongoing support via the Myitura platform

Access:

Women can access these packages by downloading the Myitura app, which makes healthcare more accessible and convenient.

Myitura is a health-tech platform focused on improving access to healthcare through financing, technology, and preventive care solutions.

 


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