E-Business
From Farming to Forex: How Technology Has Changed the Face of Investing

By Nikola Grozdanovic, Senior Writer at FXTM
Not too long ago, when an individual wanted to save or invest money, they were limited to a handful of options. In the early days of our ancestors, farming and land underpinned wealth and a bank account was considered a luxury.
Even after industrialization took hold, we were still fairly limited; with most individuals opting to invest in a bank account, property or even in a box under the bed.
Information around investing was scant and financial education required a huge commitment of time and resources. If we wanted financial advice we had to rely on advisors (if we could afford them), community members, or go it alone.
Nikola Grozdanovic, Senior Writer for FXTM, a global award-winning forex broker, explores how our options have become significantly broader in terms of the types of products we can invest in and the way we do it.
We can now participate in anything from Forex trading to buying Crypto Currencies with our mobile devices or a laptop.
Technology has allowed people to get completely involved with the process of investing, from choosing a portfolio of shares to becoming a forex trader.
However, we are still a long way from a world where everyone can participate in the formal financial arena.
According to Worldbank.org, two billion people worldwide do not have a bank account or access to a financial institution via a mobile phone, or any other device.
However, between 2011 and 2014, 700 million adults became account holders, and the unbanked population fell by 20%, down from 2.5 billion.
The growth of mobile technology, and the fact that mobile phones are becoming cheaper, has helped literally billions to have access to products and services that they were previously excluded from.
Technology has influenced almost every aspect of our lives, but perhaps the most useful of the developments are in the financial space. We not only have access to many more investment options, we even have robots that can make decisions for us, fondly known as Robo- Advisors. They are not actually robots but clever computer programmes that ask you about your life, income and investment attitudes – and based on your answers, they will generate a report that suggests suitable investment options for you. Lukman Otunuga, a Market Analyst at FXTM says “When trading the foreign exchange market, investors can use Expert Advisor which are programs that allow automation of the analysis and trading. Forex brokers have recognised that novice traders have the desire to trade, but lack experience.”
An Expert Advisor (EA) is essentially an automated trading algorithm that allows traders to code the parameters of their trading strategies.
These highly complex but simple-to-use tools assist traders to refine their trading strategies and gain a greater potential advantage over the markets. Traders that have opted to use EAs have honed their skills over time and eventually become strategy managers, allowing suitable traders alike to copy their trades for a fee.
Copy trading as it is called, is a form of social investing. It allows traders to build a network of followers in which they would share market projections to create trading strategies. Followers can duplicate trades made, while onlookers could receive first-hand insights into how trading strategies are formed.
This creates a hybrid scenario for an investor – using both technology and another human to help them invest. There has been a long-standing debate about whether humans or machines are better suited for making investment decisions or delivering a service.
However, the key argument here is not who delivers a better service but rather, how the service deals with human behaviour. Human behaviour is random, but by employing big data analytics and algorithms we can spot trends and discard the noise that can undermine decisions.
The real power of technology will come when it is seen not only as a mechanism for enabling access to services, but when it facilitates a positive user experience and drives meaningful engagement with the vendor. In other words, the technology enables a more social and human experience.
Nigeria has a rich history of social investing. Collective investment schemes known as eSUSU are known to almost all individuals who want to save for a goal. Over 70% of people in emerging markets do not have a formal bank account, so they have devised their own ways to save money.
The most popular are the Rotating Savings and Credit Associations (ROSCAs). They function by taking monthly deposits from each member of a group and then payout the entire amount to one member of the group. The recipient of the collective sum is based on a predetermined rotation, ensuring each participant will eventually receive a payout.
It is estimated that over 40 million people in Nigeria participate in some form of social investing. Of course, when there are humans involved with money there is always a margin for error; blind trust that the people handling your money will play by the rules is a default – a condition of participation.
Banks have seen the enormous potential of getting these informal savings plans onto a technology platform and have invested significant capital to achieve this.
While technology has changed the face of investing and allowed more people to engage in the formal financial sector, we are still a long way from full inclusion.
Accessibility and knowledge still remain a major obstacle for the bulk of emerging market individuals. Institutions fully recognise that optimising the technology experience is key to seamless service delivery and the much-desired total customer experience. This explains the huge investment in IT infrastructure by financial institutions in recent times.
Otunuga says “all financial service industries have raised their games in the technology space. FXTM has spent a lot of resources on their mobile trading apps and we invest heavily in keeping up to date with innovations in the industry. Reliable, fast and engaging technology is what keeps our clients coming back and we are acutely aware of the role it plays in our success as a broker.”
We will continue to see rapid growth in financial technology, but it would and should not come at the expense of the individual. In fact, the smart money will be on solutions that seamlessly embrace and involve the user for the benefit of both parties. It is an exciting time for both the consumer and the service provider, and it would seem that the only barriers we now face, exist within the limits of our creativity.
E-Business
Nigeria Demands Cloud Sovereignty to Anchor Africa’s Digital Independence

Kashifu Inuwa, the Director General of the National Information Technology Development Agency, has issued a decisive mandate for African nations to establish domestic cloud infrastructure and data sovereignty or risk permanent digital subservience.

Speaking during a high-level strategic session at the GITEX Africa 2026 summit in Morocco, Inuwa argued that the continent must move beyond being a passive consumer of foreign technology to becoming a primary architect of its own digital ecosystem.
He warned that the current state of continental fragmentation leaves Africa vulnerable to external disruptions and prevents the realization of a truly integrated digital economy.
Inuwa characterised the modern global landscape as an environment defined by high-velocity data processing and pervasive intelligent systems, noting that digital integration is now a non-negotiable prerequisite for national survival.
He grounded this technical reality in a striking analogy, describing the cloud as the fundamental life-support system of the modern world. “In today’s reality, digital is no longer optional; it is a way of life,” Inuwa stated. “And the cloud is the oxygen that sustains that life.
The question we must ask ourselves is: who controls that oxygen?”
The push for cloud sovereignty represents a move toward localised data residency and autonomous computational power. Inuwa stressed that without regional data centers and unified regulatory frameworks, African nations remain subject to the policy shifts and geopolitical priorities of overseas providers.
He advocated for a shift from fragmented, siloed efforts toward a federated regional approach that pools resources and expertise to build a robust, self-sustaining African cloud. This transition is essential for ensuring that the massive datasets generated by African users are utilized to train local artificial intelligence models and catalyse internal economic growth rather than being exported for external profit.
The NITDA boss expressed concern over Africa’s limited share of global digital infrastructure, noting that while the continent accounts for between 15 to 19 percent of the world’s population, it holds only about 0.6 percent of global data centre and computing capacity.
He described the imbalance as a structural disadvantage that exposes African countries to risks around data security, economic dependency, and limited participation in the global innovation ecosystem.
“This is not just a technology gap, it is a sovereignty gap,” Inuwa stated. “We are generating data, but we are not in control of how and where that data is stored, processed, or monetised.”
He warned that over reliance on foreign owned cloud platforms could have long term implications for national security, economic competitiveness, and policy autonomy, especially as data becomes a critical resource in the global economy.
Despite these challenges, Inuwa highlighted Africa’s immense potential, pointing to its youthful population, expanding internet penetration, and fast growing startup ecosystem as key drivers of digital growth.
He said the continent is uniquely positioned to leapfrog legacy systems and build modern, scalable infrastructure that can support innovation across sectors.
However, he stressed that achieving this vision would require coordinated action among African governments, private sector players, and regional institutions.
“There is no single country in Africa that can do this alone,” he said. “We must collaborate, integrate our efforts, and build shared infrastructure that benefits the entire continent.”
Central to his recommendation is the creation of a “cloud of clouds” a federated cloud ecosystem that connects multiple national and regional cloud platforms into a unified, interoperable network.
Such a system, he explained, would allow countries to maintain control over their data while benefiting from shared standards, scalability, and cross-border collaboration.
Inuwa pointed to Europe’s Gaia-X as a useful reference model, noting that while Africa’s context is different, the principle of building a trusted and interconnected cloud ecosystem remains relevant.
He emphasised that cloud sovereignty should not be misunderstood as protectionism or digital isolation, but rather as the capacity for self determination in the digital age.
“Sovereignty is about having the ability to make our own choices, to define our own standards, and to build systems that reflect our values and priorities,” he said.
Inuwa further noted that developing indigenous cloud capacity could unlock significant economic opportunities, including job creation, local innovation, improved digital services, and increased investor confidence.
It could also strengthen Africa’s position in emerging technologies such as artificial intelligence, big data analytics, and the Internet of Things, all of which depend heavily on robust cloud infrastructure.
The DG concluded by emphasising that the quest for digital sovereignty is not merely a technical objective but a strategic imperative for long-term stability. He asserted that for Africa to achieve meaningful autonomy in an increasingly digitised world, it must secure its own computational foundations.
By establishing indigenous control over data processing and storage, the continent can insulate its critical national infrastructure from external volatility while ensuring that its digital future is determined by its own policies and priorities. The message was clear: Africa must harmonise its infrastructure and localise its computational assets now or face an era of unprecedented digital marginalisation.
As global competition in the digital space intensifies, Africa’s ability to act collectively and strategically will determine whether it emerges as a major digital powerhouse or remains on the periphery of the digital revolution.
E-Business
As Nigerians Struggle to Save, Mutual Benefits Highlights Power of Structured Financial Planning

A growing number of Nigerians are struggling to build sustainable savings habits, leaving many without a financial safety net in times of need. Insights from the PiggyVest Savings Report 2025 reveal a concerning trend of declining savings culture among Nigerians. A significant segment of the population either does not prioritise saving or lacks the discipline to maintain consistent savings, with many unable to cater for emergencies or achieve meaningful financial satisfaction.

Mutual Benefits
Released in March 2026, the report which sampled over 20,000 respondents in rural and urban areas across all six geopolitical regions in Nigeria, highlights key gaps in financial behaviour. Highlighted issues revolve particularly around emergency preparedness and long-term financial planning, underscoring the urgent need for more structured and accessible savings solutions.
With rising living costs and economic pressures, many Nigerians are increasingly focused on meeting immediate needs, often at the expense of saving for the future. As a result, emergency funds remain inadequate or non-existent for a large proportion of households.
This reality has far-reaching implications, not only for individual financial stability but also for broader economic resilience. Without a financial buffer, unexpected events such as medical emergencies, job loss or business disruptions can quickly escalate into crises.
Financial experts note that the challenge is not just about earning more income, but about adopting disciplined and structured approaches to saving.
Unlike informal or ad-hoc savings methods, structured financial products combine consistency, growth and protection, ensuring that individuals are better equipped to navigate uncertainties.
This is where solutions like Mutual Benefits Assurance’s savings and investment offerings play a critical role.
A leading player in Nigeria’s insurance industry, Mutual Benefits’ savings and investment products are designed to help individuals and families build financial discipline while enjoying the added advantage of protection.
Products such as the Individual Savings and Protection Plan (ISPP), Children Education Plan (CEP) and Mutual Investment Plan (MIP) help customers build disciplined savings, earn competitive returns through compounded interest and benefit from life insurance coverage, providing an added layer of security. Similarly, the Personal Pension and Investment Plan (PPIP) provides financial support in the event of job loss, whether voluntary or involuntary, while also serving as a valuable tool to supplement retirement income. In the event of death, designated beneficiaries receive the entitled benefits.
By combining savings with protection, these solutions address two critical gaps identified in the report: lack of emergency funds and low financial confidence.
Structured savings plans not only encourage financial discipline but also provide reassurance that funds will be available when needed. In contrast to informal savings methods, they offer a more reliable pathway to achieving both short-term and long-term financial goals.
For many Nigerians, this represents a much-needed shift from reactive financial habits to proactive financial planning.
As Nigeria continues to navigate economic uncertainty, the importance of financial preparedness cannot be overstated. Encouraging a culture of saving supported by structured, accessible financial products will be key to improving financial well-being across the population.
Mutual Benefits remains committed to empowering Nigerians with solutions that promote financial security, resilience and peace of mind. By making savings simpler, more rewarding and more secure, the company continues to support individuals and businesses in building a more stable financial future.
E-Business
Jumia Expands Nationwide Footprint, Deepens Reach Across Underserved Nigerian Cities

e-commerce company, Jumia Nigeria, has announced a significant expansion of its logistics and pickup network across Nigeria, extending its reach into underserved regions and strengthening access to e-commerce services for millions of consumers.

The expansion, executed during the first quarter of 2026, marks a deliberate shift toward upcountry growth, with new and expanded operations across Northern Nigeria, including Kebbi, Sokoto, and Kaduna, while also strengthening presence in strategic cities like Zaria. The move is designed to close long-standing coverage gaps in high-potential areas and bring its services closer to more customers.
According to the company, the expansion reflects a convergence of customer demand, infrastructure strategy, and long-term market development, as more Nigerians outside major urban centres seek reliable access to digital retail.
“We are seeing a structural shift in where demand is coming from. What this expansion does is align our infrastructure with that reality. By extending our network deeper into the country, we are not only improving service delivery, but we are also unlocking new demand, enabling more sellers to participate in the digital economy, and building a more inclusive retail ecosystem that reflects the true scale of the Nigerian market,” said Temidayo Ojo, CEO of Jumia Nigeria.
The rollout includes a significant increase in pickup stations and delivery touchpoints across both established and emerging cities. Existing urban centres such as Lagos, Ibadan, Abuja and Port Harcourt have seen network density increase, while new and previously underserved locations are being integrated into Jumia’s logistics grid. This broader footprint is supported by investments towards parcel distribution centres, designed to decentralise inventory flow, reduce delivery time, and optimise operating costs across regions.
As part of the expansion, Jumia has also strengthened its logistics partnerships and delivery capacity, enabling more efficient last-mile fulfilment while creating income opportunities for a growing network of logistics partners and JForce agents. The company notes that these investments are critical to sustaining scale as order volumes increase across a more geographically diverse customer base.
Looking ahead, Jumia plans to extend its expansion into the South-East and South-South regions ahead of the peak retail season, further increasing its national coverage and reinforcing its position as a leading e-commerce platform in Nigeria.
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