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How Brands Can Stop Product Fraudsters in Today’s Counterfeit Economy

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By Emmanuel Asika

Brands all over the world have a big problem on their hands – dealing with the ugly menace of counterfeit products that are continually flooding the marketplace which are undermining original equipment manufacturers’ (OEM) products.

Emmanuel Asika

The activities of these criminals, worsening by the day, undeniably affect the revenue of brands. But more worrisome for these brands, is the issue of lost consumer trust.

In instances, they have been misled into believing that they were buying the original product, only for the product to break down or develop a fault sooner than expected.

In Nigeria, for instance, counterfeiting remains a concern for brands, especially for those in the pharmaceutical industry, with 13% – 15% of drugs in the country said to be fake, according to the National Agency for Food and Drug Administration and Control (NAFDAC).

As of January 2022, the prevalence rate of fake drugs was reportedly higher than the global average of 10% and contributes to a sizable number of deaths annually. In one report, NAFDAC’s director of investigation and enforcement directorate, Kingsley Ejiofor, stated that the agency had seized 2 trillion-naira ($4.8 billion) worth of counterfeit drugs in the past three years.

Aside from pharmaceutical products, other prominent counterfeit items found in Nigeria are: food items, footwear, clothing, leather goods, automotive parts, optical media (CDs and DVDs), cosmetics, alcohol, and jewellery.

The Covid-19 pandemic has also shifted the landscape somewhat, with a greater number of people resorting to online shopping. Unfortunately, as brands embraced e-commerce, so did criminals.

Today, e-commerce platforms offer criminals the anonymity they need to sell products which they present as genuine goods. Where face-to-face retail offers consumers the opportunity to identify fake products at the point of sale, making those selling the products, liable for the products they sell.

With online sales, it becomes easy for illegitimate products to be passed off as original goods to global markets. As a result, brands like HP, renowned for producing print cartridges for customers around the world, must act fast to stop the spread of fake goods universally, both online and offline.

The biggest profit margins for these crooks lie in the commercial market, but they have also been targeting the consumer market. Understanding that consumers like a discount, something that is even more true with the rising cost of living, drives customers to look for cheaper deals. In the end, most of these consumers are tricked into buying counterfeits they thought were genuine.

E-commerce requires new tactics

At HP, our strategy for investigating fake products usually entails looking at the entire commercial and retail supply chain, beginning from physical locations to online platforms. This allows us to be able to trace from stores to a distributor, and upwards to the producer.

This strategy tactic has proven beneficial as we saw that between November 2020 and October 2021, HP seized 3.5 million fake print products, including completed goods and component parts, circulating in several regions including in EMEA, Asia Pacific and the Americas.

The growth of e-commerce means that we will need a wider set of tools, tactics and allies. A great percentage of fake-print products are traded in online marketplaces, and HP has been liaising with these platforms and other third-party groups to help spot counterfeit goods, confiscate them, and find their source.

For instance, HP usually carries out virtual Customer Delivery Inspections (CDIs) and Channel Partner Protection Audits (CPPAs). In FY21 alone, we conducted 1,191 CPPAs, representing an 11% increase on FY20.

These virtual checks and reviews have helped the HP Anti-Counterfeit and Fraud (ACF) team in finding and delisting over 224,000 illegitimate HP online offers globally; and we are doubling down, increasing the number of online delisting’s by 19% every year.

Additionally, HP continues to use dynamic security, which ensures chips within our products are kept updated with information that helps customers verify our product’s authenticity.

Why it is important

The anti-counterfeit war requires collaboration with several parties and joint efforts prove to be very effective. Recently, there has been stronger calls for collaboration amongst relevant stakeholders across all supply chains, to join the fight against counterfeit products in Nigeria.

Indeed, it is in everyone’s best interest to stop the use of counterfeit print products. For instance, HP printers work at their optimal levels when genuine print products are used rather than fake ones.

There are however bigger concerns – where fraudulent businesses are not concerned about the working conditions and welfare of their workers. Patronising genuine goods is an important way of supporting fair working conditions for workers around the world.

Buying original products also shows one’s commitment to protecting the environment. HP has created over 3.9 billion original HP ink and toner cartridges mainly from recycled plastic. Currently, more than 80% of Original HP ink cartridges and 100% of Original HP toner cartridges are made with recycled content.

With the HP Planet Partners, HP’s return and recycling programme, the company has recycled more than 875 million cartridges since the programme began nearly 30 years ago, with expansion to 68 countries around the globe. Patronising genuine products encourages these kinds of efforts and increases the number of sustainable cartridges in circulation.

For us at HP, we are encouraged and remain committed to halt the manufacturing of counterfeit products at source. We are also on a drive to educate consumers, the main victim in all this, about the need to report any fake products they come across.

It is a collective responsibility that involves all, from manufacturers all the way to the consumers themselves – to discourage the cycle of counterfeit goods and manipulative criminal activities. We encourage all HP customers to always look out for the holographic security label on their product box, scan the QR code to check if it’s a genuine or not– and report if it’s a counterfeit.

  Emmanuel Asika is Country Head, HP Nigeria

 


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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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