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Fixit45 Acquires Parkit, Unveils Subscription-based VIP Programme

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In demonstration of its commitment to facilitating value-creating interactions across stakeholders in the automotive industry, leading autotech platform, Fixit45 has announced the acquisition of Parkit, a network of tech enabled autocare and car wash centres.

Since its entry into the market in July 2021, Fixit45 has been focused on building a platform that provides a seamless, collaborative infrastructure for interactions to occur across verticals that include auto repair and maintenance services, fleet management, auto parts sourcing and delivery, auto care, refurbishment and upgrades, repair financing and mechanic workshop software as well as pre-purchase inspections, underlying these with moderation for compliance and accountability.

Fixit45 caters to needs in the repair and maintenance segment, Parkit plays in the auto care vertical, Xparts is a discovery and trading platform for spare parts where you can explore a rich inventory, find exacts parts based on the platform’s AI tools and get these parts in very good time and Rampware is a Software-as-a-Service tool to help auto-workshops manage their operations and improve service delivery experience.

On the acquisition, Justus Obaoye, CEO and Co-Founder, Fixit45 said, “Parkit was committed to building out and digitizing the fragmented vertical in the autocare and car wash space. They provided business support, training and consumables to businesses and ensured that the experience was rewarding for fleet and car owners.

“We found synergies in what they were doing at the time and we approached them to join us in this journey to fix and build the aftermarket ecosystem which has culminated in the acquisition. Parkit has been fully integrated in the Fixit45 family and we look forward to providing market leadership.”

According to Gerald Okonkwo, VP, Business Development, Fixit45 and Founder, Parkit, “our business was founded in June 2018 to use technology in making the customer journey for car washes very seamless by automating payments, helping them acquire the right tools for the job and providing professional care services that were not available in-country.

“This journey has been a collaborative experience and we are blessed to have found the right team at Fixit45 with bold ambitions to create value for consumers in this space.

“The acquisition was finalized in September 2021 and we are looking to many more wins. When we started, we had to import most of our consumables and materials, but today, we are to provide quality car shampoo, upholstery, tire and engine wash, polish and air fresheners. This is just one of many success stories that this acquisition has berthed.”

Automobile ownership for car and fleet owners can be a frustrating experience owing to a myriad of factors that include highly fragmented, mostly unregulated industry, informal service providers who often lack the technical competence, as well as proliferation of counterfeit spare parts with a lack of warranty on repairs. These challenges in turn have also impacted the service delivery experience from service providers.

To change the narrative in the space, Fixit45 is collaborating with a lot of stakeholders and partners with a view to deepening value creation in the ecosystem. Some of these stakeholders include workshops, spare part suppliers, insurance companies, tow trucks, fintechs, and fleet owners.

The Fixit45 Vehicle Intact Programme (VIP) has been designed as the name suggests to delivering quality and affordable repair and maintenance services via subscription-based plans with a view to ensuring that the lifetime value of a vehicle or fleet is enhanced and productivity optimized. The rich bouquet of plans come in 4 packages that include the Service Plan, Maintenance Plan, Extended Services Plan and the Emergency Services Plan.

The Service Plan ensures that subscribers don’t have to worry about workmanship and getting their vehicles in good shape. The Maintenance Plan is a commitment to a routine and or scheduled preventive maintenance which in turn mitigates the need for some repair work on the vehicle.

The Extended Service Plan works as an HMO for vehicles in which subscribers transfer to us the duty of keeping their fleet and or vehicles operational at all times. Because breakdowns don’t announce themselves, the Emergency Service plan is designed to give comfort and succor to motorists in the event of a breakdown.

With presence across 4 cities in Nigeria, more than 100 network partners and over 2500 vehicles under management, Fixit45’s ambition is to become Africa’s largest and most trusted autotech platform.

“We have built a robust end-to-end ecosystem platform that caters for all players in the aftermarket segment. The industry has largely been based on brick-and-mortar operations and it is our intention to disrupt and digitize this space using technology,” said Abdulazeez Ogunjobi, Cofounder & CTO.

“It is gratifying to see the uptake and adoption of Fixit45’s service platform by corporates in the FMCG, Mobility and Tech industry. The glowing commendations we have received will further spur us to do more in the aftermarket space.

“Our value propositions of affordability, peace of mind, quick turnaround time, convenience, quality assurance and accessibility will never go out of fashion. We will double down on these and ensure that the vehicle ownership experience is better improved,” said Bemigho Awala, Head of Marketing and Communications.


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E-Business

Wema Bank Launches Second FGN-ALAT Digital ‘Skillnovation’ Cohort

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Wema Bank has launched the second cohort for the FGN-ALAT Digital Skillnovation Programme in partnership with the Federal Government to train and equip two million young people and 1 million MSMEs across Nigeria with relevant digital skills.

Since the launch of the first cohort in 2023, over 300,000 youths and business owners have leveraged the platform as a launchpad for their business and career success.

This cohort featured 100% virtual learning sessions through which participants from the 36 states in Nigeria and the Federal Capital Territory (FCT) were provided with self-paced online learning experiences.

As cohort 2 begins in the second quarter of 2024, the FGN-ALAT digital programme is officially transitioning to physical training sessions and the curriculum will cover key digital skills including software engineering, product management, business analysis, cloud computing and product design, among others.

This phase of the programme will be executed via FGN-ALAT digital hubs, which will be set up in the different states across the six geopolitical zones in Nigeria to ensure that every Nigerian can access the programme’s full benefits regardless of their location.

These hubs will be equipped with training and incubation facilities ideal for digital-driven learning, giving participants the opportunity to acquire marketable and transferrable digital skills and gain a competitive edge in the global digital ecosystem.

The FGN-ALAT digital hubs will be set up in phases and trainings will commence accordingly, starting with Borno  and Anambra State.

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the pivotal role of the programme in bridging the gaps in Nigeria’s macroeconomic landscape towards national development.

“We are unwavering in our commitment to supporting MSMEs and with the FGN-ALAT Digital Skillnovation Programme, it’s all about the bigger picture—which is why we have partnered with the Federal Government to augment the scale of this programme’s impact.

“By tailoring this programme to suit the needs of both entrepreneurial minded and professionally inclined Nigerians, we are not just arming SMEs for more efficient business management and growth, we are also equipping Nigeria’s workforce for increased productivity and the ripple effect will not only create more viable employment opportunities for Nigerians towards reduced unemployment and underemployment rates, but further drive economic growth and national development, boosting Nigeria’s position on the global playing field.

“The digital evolution is moving sporadically and by empowering our youth and MSMEs with in-demand digital skills, we are ensuring that Nigeria is not left behind as the world evolves.

“Beyond the intellectual resources and other non-monetary opportunities, we are going a step further to provide financial support for these participants in form of millions of naira in equity capital, soft loans and grants, to enable them put their learnings to practice and build sustainable streams of income that could help them become employers in their own right.

“I encourage you to take the big step forward in achieving your business and career goals by joining the programme. All you have to do is visit the website to register. This programme is completely free and there’s more than enough room for you. Your success is Nigeria’s success and as your unique journey unravels, our promise remains certain,” he said.

Referring to the programme as an eye-opener for all, Mariam Isah, a beneficiary of Cohort 1, said, “It’s almost unbelievable all I’ve learnt in one month virtual training.

“I started this training simply looking for a way forward for my business but I have unlocked secrets that are life changing not just in my business but in all aspects of life. I am so grateful for this rare opportunity, and I can’t wait to be a part of the cohort 2.”


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StarNews, Global Black Economic Forum Launch Business Competition In Partnership with MTN & USAID

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Africa’s leading video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF), have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria.

Held in partnership with MTN and United Nations Agency for International Development (USAID), the initiative will empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the USA.

Held over 10 weeks between April 8th to June 14th, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for emerging entrepreneurs to showcase their ventures and gain national visibility.

With subscribers voting for their favourite candidates, the top 20 contestants will seize the spotlight and make their mark on the business landscape.

The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.

With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.

The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.

Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5th 2024.

Speaking on the competition’s launch, Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile.

It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals.

By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”

According to the US Embassy and Consulate for Nigeria, over 80% of Nigerian startups are incorporated in the United States and more than 60% of venture capital funding in Nigerian startups accounted for by the US.

In 2023 alone, Nigerian startups raised a total of $398mn however, this signalled a 66% funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.

Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora.

“Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”

A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address the most challenging problems facing our communities.

GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.

GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.

Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.

With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.

To-date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3mn pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé and Mike Maignan.

 


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Companies Invest More than $100,000 Yearly to Upskill their Cybersecurity Teams – Study Reveals

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Over 70% of businesses pay more than USD $100,000 for additional training annually to keep skills of their cybersecurity employees up to date, a recent global Kaspersky study has revealed.

However, the surveyed companies also highlighted that there was a lack of relevant courses covering new challenging spheres in the educational market and stated that training does not always bring them the expected result.

In its recent study ‘The portrait of the modern Information Security professional’, Kaspersky examined the topic of the global cybersecurity staff shortage, analysing the exact reasons businesses lack cybersecurity experts, and identifying the ways they evaluate and upskill their cybersecurity workforce¹.

According to the research, companies are investing significant amounts in upskilling their cybersecurity teams: 43% of organisations globally say they usually spend between $100,000 and $200,000 per year on information security courses, while 31% even invest over $200,000 for training programs. The remaining 26% state they usually pay less than $100,000 for educational initiatives².

However, cybersecurity practitioners also note that the educational market is struggling to keep up with the rapidly changing industry and fail to deliver the necessary training programs on time.

Survey results for the Middle East, Turkiye, Africa (META) region shows that the scarcity of courses covering new challenging spheres (48%) was the main problem for those searching for cybersecurity training.

50% of respondents from the META region also stated that trainees tend to forget what they learned because they had no opportunity to apply newly acquired knowledge, therefore the courses were useless to them.

The need for special training pre-requisites such as coding and advanced mathematics, which were not specified at the pre-registration stage were also problematic for 37% of practitioners from the META region.

“With a constantly evolving threat landscape, businesses should continually improve the skills of their cybersecurity personnel in order to be well prepared for sophisticated cyberattacks.

“Developing high-profile specialists within the company and building internal expertise can be an effective strategy for organisations that aim to retain existing employees and allow them to grow professionally, instead of constantly hunting for new candidates and checking their professional backgrounds and practical skills.

“For organisations served by Managed Service Providers it is also important to maintain a pretty high level of expertise internally and use the same language when discussing the scope of services and Service Level Agreement with them,” comments Veniamin Levtsov, VP, Center of Corporate Business Expertise at Kaspersky.


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