News
How and Why Techpreneurs are Dying
High interest rate; banks’ apathy to financing startups; multiple taxation; poor accounting system; weak management system; marketing are some of the factors impeding the growth of technology entrepreneurs (techpreneurs) in Nigeria according to technology experts.
A technopreneur is simply an entrepreneur in the field of technology. He can be best described as an innovator in a certain product or service, and who bears the risk for promoting and supplying this product or service.
But the experts who spoke to Nigeria CommunicationsWeek at the weekend said some of the attributes and responsibilities of traditional entrepreneurs are lacking in the Nigerian techpreneurs.
Harry ‘Tomi Davies, chief executive officer, TechnoVision Communications, identified “indiscipline” as a major roadblock to the realization of the dreams of techpreneurs.
“Discipline! There is this inability to have long-term expectations and the lack of managerial prowess to nurture and manage ideas for the long term” he added
On his part, Peter Asolo, chief executive officer, PetVini Global Concepts Limited, blamed unsavory economic policies and lack of patronage.
He said, “The Nigerian economy like, already said severally is very harsh for a quick breakthrough. The Petvini tab is one device that targets the students and schools to eliminate physical notebooks and do away with the level of little or no knowledge of technology among our people. But some of the challenges we are currently experiencing is lack of access to investable funds. Most people do not see any reason in investing in technology yet.
“What many see as doing technology business ends up at selling the already known foreign brands. They will never believe an African or a Nigerian can be innovative to the extent of bringing about innovation that not only compete with the foreign brand but tackle our local challenges”.
Nodding in agreement, ‘Tomi Davies, who is also the chairman, Mobile Monday (Nigeria), said, “In Nigeria, we tend to be short-term about a lot of our business plans. What that means, if you take a tech opportunity, the first thing is to get attraction, then the skills.
“So, we get the attraction accompanied by a lot of noise, but when it comes to scaling only people like Sim Shagaya, founder & CEO of Konga.com, the Jumia co-founders, the Jobberman founders, and a few others. Why we revere these people is because they have shown managerial competence in their ability to scale.
“That kind of skill is not what you get your head around easily, especially when the focus in the environment you have to operate in is not about how satisfied your clients or customers are rather the amount of cash you make daily, monthly or yearly, or how swollen your bank account is”.
But, Asolo believes that the technology adoption awareness level among Nigerians is still low.
“Other challenges are the (Nigerians) awareness level is still low. Though we have a reasonable pocket friendly pricing but the purchasing power is not still widely spread.
“Many people often believe the lack of stable energy is another form of obstacle, but we have also devised a solution to that by embarking on OEM of power banks to charge not only the tablets but also charge other devices such as phones, laptops and other mobile devices”.
While TD believes that Nigerian entrepreneurs in the technology ecosystem should submit themselves for mentorship, Asolo, also highlighted the need for the government to redouble efforts in providing conducive environments for them to thrive.
—
News
Ecobank Sends Important Message to Customers Over Service Disruptions
Ecobank Nigeria has issued a notice to customers regarding fluctuations in its interbank funds transfer service, which may result in delayed transactions.
The bank reassured its customers that efforts are underway to resolve the issue and that all affected transactions will be processed as soon as the service is restored.
In a statement, Ecobank acknowledged the inconvenience caused and emphasized its commitment to minimising disruptions.
“We are working diligently to resolve this issue and ensure normal service delivery,” the statement read.
The bank also noted that other electronic banking services remain fully accessible, allowing customers to continue enjoying a seamless banking experience.
To assist customers during this period, Ecobank encouraged the use of its live chat feature on ecobank.com and provided an email address, [email protected].
The bank reiterated its dedication to providing reliable financial services across its platform, thanking customers for their understanding and patience.
As Africa’s leading Pan-African bank, Ecobank assured customers of its commitment to addressing their concerns promptly while delivering innovative and customer-centric solutions. The bank concluded with an appeal for continued trust as it works to resolve the current challenges.
News
Galaxy Backbone Hosts Governor Mutfwang in a Move to Advance Plateau State’s Digital Future
Galaxy Backbone Limited, Nigeria’s premier Information and Communication Technology (ICT) service provider, had the distinct honor of hosting the Executive Governor of Plateau State, His Excellency, Barrister Caleb Manasseh Mutfwang, at its corporate headquarters in Abuja. The visit highlighted Plateau State’s growing commitment to harnessing digital infrastructure to enhance governance and accelerate economic development.
Governor Mutfwang, accompanied by a distinguished delegation, toured Galaxy Backbone’s state-of-the-art facilities, including its Tier III data center, its Security Operations Centre and Network Operations Centre. The visit provided a platform for robust discussions on leveraging ICT for improved transparency, accountability, and efficiency in governance.
Welcoming the Governor, the Managing Director and CEO of Galaxy Backbone, Professor Ibrahim Adeyanju, commended his visionary leadership and dedication to digital transformation.
“Your visit is a testament to Plateau State’s commitment to embracing innovation as a catalyst for development,” Professor Adeyanju stated. He further emphasized Galaxy Backbone’s unwavering dedication to providing the digital infrastructure and expertise required to turn this vision into reality.
During the meeting, the Galaxy Backbone team outlined the immense opportunities that Plateau State could unlock through its partnership with the ICT giant.
These included access to Uptime-certified data centers for secure and uninterrupted operations, robust digital security measures through the Security Operations and Network Operations Centers, and cost-effective solutions designed to localize data sovereignty while optimizing payment structures. Additionally, the discussion explored how managed cloud services, tailored to Plateau State’s unique needs, could scale e-governance initiatives and drive efficiencies.
The visit also focused on empowering the state’s workforce through capacity-building initiatives. Galaxy Backbone is committed to designing training programs that would not only enhance digital literacy but also foster an ecosystem of innovation to create job opportunities for the youth.
The potential of the 1Government Cloud platform was also discussed, highlighting its ability to streamline and automate government services while promoting transparency and accountability. Furthermore, Geographic Information Systems (GIS) were positioned as tools for informed decision-making, offering solutions in areas such as land registration and resource management.
Governor Mutfwang expressed his administration’s dedication to transforming Plateau State into a leading digital hub, noting the state’s unique positioning as a vibrant ICT community outside Lagos. He underscored the importance of empowering the youth to participate in the global digital economy while residing in Plateau. “This is the future, and Galaxy Backbone is pivotal to making this vision a reality,” he remarked.
He also referenced complementary projects, such as the ongoing upgrade of the Yakubu Gowon Airport into a cargo hub and the African Development Bank’s selection of Plateau State as a Special Agro-Industrial Processing Zone, as initiatives poised to boost the state’s economic potential.
Barr. Mutfwang also described GBB as a national asset with immense potential to foster good governance and stimulate economic growth. He commended the company for its role in promoting digital inclusivity and emphasized his administration’s determination to spearhead a digital revolution in Plateau State.
The visit earlier commenced with an extensive tour of Galaxy Backbone’s cutting-edge facilities, reinforcing the company’s readiness to support Plateau State’s aspirations. Professor Adeyanju reiterated the company’s commitment to translating the interactive deliberations into actionable solutions, stating, “This engagement marks a significant milestone in our journey to redefine governance and foster innovation.
“We are honored to host Your Excellency and look forward to working closely with your administration to achieve a digitally inclusive and economically prosperous Plateau State.”
The collaboration between Galaxy Backbone and Plateau State signals a bold step toward a groundbreaking digital transformation, setting a precedent for ICT-driven development not only in the state but across Nigeria.
News
IFC Invests in IHS Holding Bond to Support Digital Connectivity in Emerging Markets
IFC has anchored a $1.2 billion dual tranche bond issuance—its biggest ever mobilization for a single bond deal—for IHS Holding Limited (“IHS Towers”) to support digital connectivity for millions of people in emerging markets in Africa, Latin America, and the Middle East.
The funds will enable the company to refinance existing debt and support organic growth across its markets.
The financing package, which was supported by an initial commitment from IFC of up to $100 million, will help the company refinance some of its near-term debt and lengthen its debt maturity profile.
IHS Towers, one of the world’s largest independent communications infrastructure providers, builds towers, supports the deployment of mobile network operator equipment, and provides fiber connectivity for its customers.
Estimates indicate that 95 percent of people without internet access reside in low- and middle-income countries, presenting a significant opportunity to expand digital connectivity.
Access to affordable, good-quality internet services is central to economic and social development, driving business growth, local economies, and access to education, healthcare, and financial services.
Dahlia Khalifa, IFC Regional Director, Central Africa and Anglophone West Africa, said, “This investment represents a transformative step toward closing the digital divide and driving sustainable, inclusive growth in emerging markets.
“We are proud to support IHS Towers through this partnership to help foster digital inclusion and empower businesses and individuals with greater access to digital tools that drive innovation, create jobs, and strengthen communities, especially in the most remote areas of the countries covered by this important project.”
IHS Towers will continue in its efforts to integrate solar power and energy-efficient systems to reduce the carbon emissions intensity of its tower operations, ensuring it plays a central role in driving innovation and growth within the telecoms sector.
“We are proud to support innovative solutions that advance digital inclusion while prioritizing sustainability,” said Sarvesh Suri, IFC Regional Industry Director, Infrastructure and Natural Resources in Africa.
“Our collaboration with IHS Towers underscores our shared commitment to driving sustainable development globally, particularly in Sub-Saharan Africa, empowering communities to engage more fully in the digital economy.”
IFC has been a long-standing partner of IHS Towers which operates over 40,000 towers facilitating mobile coverage and connectivity for approximately 750 million people across 10 countries: Cameroon, Côte d’Ivoire, Egypt, Nigeria, Rwanda, South Africa, Zambia, Brazil, Colombia, and Kuwait. Approximately three quarters of IHS’s towers are located in Africa.
By financing mobile network operators, independent tower operators, data centers, and broadband providers, IFC is strengthening the infrastructure needed to expand digital connectivity. This effort actively bolsters Africa’s digital economy while providing reliable and affordable access to millions.
- E-Business1 day ago
Report Reveals Most Organisations Fear AI-driven Cyberattacks but Lack Key Defences
- E-Financial2 days ago
FG Begins N50 Electronic Levy Deductions from Moniepoint, Other Digital Banks
- News1 day ago
Oyedele: Majority of Nigerians Approve Tinubu’s Tax Reform Bills
- Telecom1 day ago
NITDA Commends Google, X, Microsoft, and TikTok for Compliance
- News1 day ago
IFC Invests in IHS Holding Bond to Support Digital Connectivity in Emerging Markets
- E-Business2 days ago
Mastercard, Alerzo, and e-Trade Alliance Unite to Enhance Financial Inclusion for 10,000 MSMEs
- Telecom2 days ago
Schneider Reiterates Commitment to Accelerate Data Centre Market
- News2 days ago
IGP Confirms Prosecution of 113 Foreign Nationals for Alleged Cyber Crimes