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Competing for Service – a Customer’s Choice

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Ask any staunch modernist and you’ll hear them say that the last 100 years have far outpaced the previous 1000 in terms of human invention. They will say that to define modernity is to acknowledge recent advancements in technological innovation, urbanisation, and globalisation and how they have accelerated financial exchange through fintech and other inventions.

We live in a time where the same generations who are always ready to whip out their cheque books and those who grew up completely digital bank with the same service provider or shop at the same retailer. So while we see today’s innovations across the retail, technology, banking, and travel sectors, for example, it begs the question of whether today’s innovations compete with traditionality.

When UNCTAD released its findings on e-commerce sales earlier this year, it described the growth of online sales as having increased “markedly in value”. At the same time, 46% of respondents in Raydiants 2022 Consumer Behaviour Report said that given the choice, they still prefer to shop in-store.

Finance

Like in online retail and in-store shopping, the biggest difference between traditional forms of payment or traditional banking and online banking is physical presence. As it goes, the same consumers who prefer shopping in physical stores likely still prefer the human interaction that goes with traditional banking.

That said, not everyone has access to a personal bank or financial advisor who can help with savings and investment decisions. However, data released by mobile industry insights company Global System for Mobile Communications (GSMA) shows that smartphone adoption stands at 64 percent in Sub-Saharan Africa, and is expected to grow to 75 percent by 2025. The report also reflects that $155BN of economic value added will be generated by mobile technologies and services by 2025. In 2020, transactions on mobile money platforms reached $490 billion.

“It’s not surprising that we have seen a proliferation of established players in mobile banking and payments. We expect these mobile solutions to extend to savings options, with an emergence of platforms that will make it easier for anyone with access to a smartphone to explore various investment and saving options,” says Tony Mallam, managing director of upnup, a micro-savings and investment platform.

Services

There are, of course, still businesses and consumers that prefer using cash. And for consumers who prefer making payments using bank notes, the old saying of ‘nothing is more powerful than habit’ remains king. Eventually, as a home services marketplace, SweepSouth’s co-founder Alen Ribic comments, market forces and market demand will be the deciding factors behind the financial behaviour of businesses and consumers.

“Our offering has always been a case of creating products according to customer needs and what the market demands. We don’t assume to know a customer and then launch new products or offerings based on that,” notes Ribic. “We know that a different market will add new variables into the equation and using a combination of market data with local, on the ground, team presence we assess what is in demand and what would be a suitable additional offering for our customers.

In fact, the very way that brands and consumers interact and learn with each other has changed. Today, most consumers will have researched a product online before making a purchase. More brands are using customer data gained from online behaviour and purchases to dictate their offerings.

Travel

Salesforce reports that while 66% of customers expect companies to understand their unique needs and expectations, only 32% of retail executive respondents say their organisations have the full ability to turn data into personalised prices, offers, and products in real-time across channels and touchpoints.

Head of Marketing and Communications at online travel booking platform Jurni, Tshepo Matlou.says, “Innovations are coming in thick and fast but the key is to meet your suppliers and customer base where they are. Each generation has their own way of approaching business, but to stay on the pulse – you have to meet them where they are most comfortable.”

Google’s Travel Insights portal notes that destination popularity can change in an instant. For the most current information on those changes, travel businesses should rely on travel data to determine service offerings. Today this type of trend analysis is far more useful than gauging the number of customers physically visiting travel agencies to pick up travel brochures.

Weighing up the benefits of traditional versus digital should not be seen as a war of which is better, but rather pose the question of how businesses can leverage mixed customer demand for services. Business owners should use data to educate themselves on trends and preferences for the generational mix of consumers with purchasing power that we see today. Whether you choose to be exclusively online or to satisfy various markets, there’s no doubt that, for now at least, both traditionality and modernity are here to stay.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

Leo Stan @ 70: Blessed and Bruised by Country, Eyes Next Disruption

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One a quiet Wednesday, February 22, 1956,  in Ubomiri, Mbaitoli, Imo State, the family of Chief and Lolo Ebenezer Ekeh leaped for joy at the birth of Leonard Stanley Nnamdi Ekeh- their second son.

Leo Stan @ 70: Blessed and Bruised by Country, Eyes Next Disruption

Leonard Stanley Nnamdi Ekeh

His birth was both cosmic, and disruptive as his journey down this 70 years on earth has proven.

Leonard Stanley Nnamdi Ekeh, popularly know as Leo Stan Ekeh or LSE is human by birth but profound, rare and has higher consciousness.

Imbued with deep intuition, intense creativity, and compassionate nature, Leo Stan possesses critical thinking ability.

He has relentless drive to succeed across multiple facets of life. This is a self-made construct driven by his deep spiritual and  purposeful living, rather than just mere survival.

Despite the recurring and abrupt reversal  of government policies, which leave companies including his hemorrhaging, Leo Stan has remained committed and actively participate in the development and nation-building of Nigeria.

Am one of the lucky people to have known him up close and personal for nearly 30 years.

He has endured lots of back biting and campaigns of calumny from competitors and even betrayals from least expected people.

But his tenacity makes him stand firm on his beliefs regardless of  feelings, or circumstances.

He has stumbled in businesses, failed in some ventures; but he always get right up.  At one point, he nearly lost his head selling international commodities.

LSE takes every loss with equanimity as a dogged fighter.

A serial entrepreneur and with eyes for great minds, Leo Stan does not just walk through life; he leaves a trail of light, lifting everyone around him with kindness and wisdom. And there are testimonials.

For me, he is a pillar of strength and a beacon of hope. My  benefactor.

He is also a benefactor to many. He has a way of making associates feel vital, loved, and valued.

Today is his Platinum Birthday but his roads have not always been paved with gold.

His early life was as ordinary as it can be, LSE attended Holy Ghost College, Owerri for his secondary education.

During his early years, he wanted to own the biggest transport company in Nigeria.

He later went to India for his university education, where he received a Bachelor of Science degree in Economics from Punjab University.

Leo Stan believes that studying in India was a great turning point in his life because he found the economy of India a realistic economy”.

He later also earned an MSc in Risk Management from the University of Nottingham.

At 70, he attained his height by trust in God, determination and CAN DO attitude.

Today, his  business opinions and advisory are  welcome around the world.

Leo Stan once told me “I saw myself from the beginning even when my parents were alive as an orphan. It drives me.”

He has three brothers and two sisters, His mother was a dietitian, and his father was a nurse

“I come from a lineage of people who served God dedicatedly. I am a miracle child and I remember my mother had always predicted that I would be great. I have siblings but I live my life as if I am the only child of my parents” he said

He believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world.

His solid prints in the business world is well documented. He has his hands in his hands in several businesses including ICT, e-commerce, broadcasting, oil and gas, media publishing and real estate.

Leo Stan is a man of many firsts: he pioneered a new world of digital economy at a time the country was deeply analogue both in the workplace and in schools.

The Nigerian media industry, from advertising to newspapers, owes him much gratitude for changing their operational processes and methodologies from mundane, medieval analogue to the robust and elegant digital platform.

Within 30 years, he has transformed a start-up that sprouted from a make-shift apartment that also doubled as his home into a digital conglomerate with incursions into oil and gas, entertainment and property.

Leo Stan started Zinox Technologies Limited in 2001 to manufacture computers.

He ensured that at launch Zinox Computers already had the WHQL certification, the first in sub-Saharan Africa, consolidated 5 years later with the attainment of the NIS ISO 2000: 9001 QMS Certification.

In October 2013, the company announced the production of its computer tablet line named Zipad

Task Systems, Technology Distributions Limited, Konga (Africa’s foremost truly composite e-commerce outpost combining offline-online mix in service delivery), Konga Radio, and TD Mobile, to name a few, complete the ensemble of businesses in his thriving conglomerate.

In all his companies, there is a growth pathway for every employee.

He deliberately creates a system that rewards every hardworking and dedicated employee.

From drivers sponsored to universities and returning to the conglomerate as degree holders to persons who joined the organisation as janitors working their way up the corporate ladder, he has brought his humanity to bear on people around him.

Making some lowly staff home-owners and sponsoring indigent students to universities at home and abroad comes to him as a routine.

Just a few days ago, ahead of his 70th birthday, he offered University scholarships to additional 1,000 Nigerian indigent wizkids to study Computer Science in Federal Universities. He is committing about N10 billion to the scholarship scheme.

This is so the country’s private and public sectors have a new generation of tech wizkids to support the economy’s growth.

Recall that his group has trained and retrained over 3000 Nigerians and donated tech centres to over 25 institutions nationwide just to mention a few.

The former alter boy  and chorister in his local community Catholic Church at Ubomiri, now a multi-billionaire, has stayed humble.

He  draws a distinct line between capitalism and welfarism.

Leo Stan is  great man, a leader with unparalleled integrity and a heart of gold.

He  has earned over 6o international and local awards over many years of incisive entrepreneurship, was equally singled out and honoured by former President Olusegun Obasanjo on the occasion of Nigeria’s Independence Anniversary on October 1, 2001 with an ICON OF HOPE award as a pride to modern Nigeria and as a model for Nigerian youths.

Again, President Obasanjo honoured him with another national award – the Order of the Federal Republic (OFR) in 2003.

A Fellow of the Nigeria Computer Society, the umbrella body of all computer associations in Nigeria, he was also awarded the pioneer ICT Personality of the Year by this professional body.

In November 2019, Ekeh was honoured by President Muhammadu Buhari with the National Productivity Order of Merit award for his sustained leadership in the area of Information and Communications Technology (ICT).

With over four Doctorate Degrees (Honorary) and fifteen fellowships from recognized institutions and as a former global advisor to Microsoft, as well as Forbes Best of Africa Leading Tech Icon Award his outstanding entrepreneurship.

Leo Stan is Ochiririozuo Ubomiri, Ebekuo Dike, Ideato and Iyi of Mbaitoli

Above all these, he prioritizes family well-being as a loving, responsible and dependable rock.
He nurtures a positive home, respects his partner- Chioma, and dedicates time to actively engage with his children.
For, Leo Stan is more than a mentor—he is a teacher, a guide, and an inspiration.
My immense gratitude  for your patience, kindness, and for empowering me to overcome challenges.
I am forever grateful for your investment in my personal and professional growth.
At this his blessed age, he is not showing signs of tiredness, he is planning of the next positive disruption. His eyes are set on the next big bang for the benefit of mankind.
Sir, i tap into your grace and take charge of my own life and leave behind negative influences.
Happy birthday sir, may the years head be greater.

 


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How JustMarkets Is Empowering African Traders with Global Market Access

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Africa’s trading community is rapidly growing, evolving, and showing increasing interest in financial markets. From Lagos to Nairobi, from Accra to Johannesburg, more and more people are exploring financial markets as a way to develop skills, earn income, and participate in the global economy. But the ability to trade isn’t enough; traders also need reliable technology, fair conditions, and tools that help them make informed decisions and trade effectively.

How JustMarkets Is Empowering African Traders with Global Market Access

JustMarkets

This is where trading platforms like JustMarkets make a significant contribution to the development and expansion of the trading community in the African region.

By combining global market access with a results-oriented trading environment, JustMarkets helps African traders compete head-to-head with those in the world’s largest financial centers, providing access to tight spreads, a wide range of analytical materials, and a variety of account types.

Breaking Barriers to Global Markets

For years, traders in emerging markets have faced limitations: slow platforms, a limited range of instruments, low liquidity, wide spreads, and infrastructure that hinders professional trading and effective analysis. Today, JustMarkets addresses this significant gap by providing African traders with access to a wide range of global financial instruments through a single, optimized online platform.

Now traders have the opportunity to test short-term strategies, long-term portfolio diversification, and learn how markets work. Traders can now explore opportunities in forex, commodities, indices, and stock markets without geographic barriers or technical difficulties.

A Trading Platform Built for Performance

Technology plays a critical role in modern trading. Market conditions can change in seconds, and execution speed often makes the difference between opportunity and missed entry. The JustMarkets leading trading platform is designed to support fast, confident decisions in real time.

  • Ultra-fast execution. Engineered for low-latency order processing, the app helps ensure trades are executed quickly and efficiently when markets move.

  • Full risk management. Stop-loss, take-profit, and position sizing can be managed directly from the chart, helping traders stay disciplined and protect capital.

  • Advanced charting. Interactive charts, multiple timeframes, drawing tools, and built-in indicators provide the analytical depth needed for informed trading decisions.

  • Real-time alerts. Instant notifications about price movements, order events, and key market developments help traders stay connected even when they’re away from the screen.

  • Secure authentication. Biometric login, encrypted data transmission, and advanced internal security protocols ensure that accounts and personal data remain protected.

This combination of speed, usability, and security makes professional-grade trading accessible from anywhere, even on the go with JustMarkets mobile trading app.

Trade a Wide Range of Global Markets

Access to diverse instruments allows traders to adapt to different market conditions and explore multiple strategies. JustMarkets provides African traders with the ability to participate in major asset classes worldwide.

  • Forex. Trade major, minor, and exotic currency pairs with competitive pricing and deep liquidity.

  • Gold & Metals. Access precious metals such as XAUUSD and XAGUSD, popular instruments for active traders and those seeking exposure to global macro trends with competitive spreads.

  • Indices. Engage with leading global stock indices including the S&P 500, NASDAQ, Dow Jones, DAX, and FTSE – markets that reflect the performance of major economies.

  • Stocks. Trade shares of global companies and high-volume market leaders, opening opportunities to follow international corporate trends.

  • Energy. Speculate on key energy commodities such as WTI and Brent crude oil, instruments often influenced by geopolitical and macroeconomic developments.

This broad market selection helps traders diversify and respond flexibly to changing global conditions.

Supporting Trader Development

Expanding technical, educational, and analytical capabilities extends beyond technology. JustMarkets also places a special emphasis on helping traders build knowledge and confidence. Access to educational materials, market analysis, and structured risk management tools fosters a more disciplined and informed approach to trading, including setting trading goals.

For many African traders, this means moving from random speculation and emotional trades to a more professional mindset, and most importantly, understanding that long-term success depends on strategy, risk management, continuous learning, and a cool head.

Connecting Africa to the Global Financial Ecosystem

Financial markets are becoming increasingly interconnected, with traders from all regions now participating in the same global capital flow. Offering advanced tools such as flexible leverage, fast order execution, and broad access to markets and trading assets, the JustMarkets online trading platform helps African traders become active participants in this ecosystem with full access to analytical and educational materials, as well as cutting-edge technological solutions for managing trades, accounts, and open positions. JustMarkets’ commitment to empowering traders, increasing financial literacy, and enabling people to engage with global markets on a level playing field. As the African trading community grows, online trading platforms like JustMarkets, which combine performance, accessibility, and security, will play a key role in this process. But pay attention that risk management still is a key to success as CFD trading involves risks.


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Court Freezes MCSN Copyright Levies amid Record Label Legal Battle

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Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has issued an interim Mareva injunction freezing copyright levy funds due to the Musical Copyright Society of Nigeria (MCSN).

Court Freezes MCSN Copyright Levies amid Record Label Legal Battle

The order prevents the Central Bank of Nigeria (CBN) and at least 20 commercial banks from disbursing these funds until further court proceedings.

The injunction stems from Suit No. FHC/L/CS/207/2026, following an ex parte application filed on February 5, 2026, by the Record Label Proprietors’ Initiative on behalf of 11 major record labels and music companies.

Plaintiffs include industry heavyweights such as Mavin Records, Davido Music Worldwide, Chocolate City Music, Universal Music Group, Sony Music Africa, and Warner Music South Africa.

The plaintiffs, through their attorney, sought to restrain the CBN from releasing any copyright levy funds related to sound recordings earmarked for MCSN.

They also asked the court to bar MCSN and its agents from accessing, transferring, or using the funds, whether received directly from the CBN or routed through commercial banks.


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