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Konga Gives Loan Facilities to Merchants ahead of Yakata 2019

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Konga, foremost e-Commerce giants, has taken a step further towards making the 2019 edition of its Yakata sales an unforgettable experience for its customers. To this effect, Konga has made available soft loans and credit facilities for merchants on the Konga Marketplace.

 

Konga Yakata – as Konga’s Black Friday sales are known – is widely regarded as the biggest sales event in Nigeria’s annual shopping calendar.

 

The sales extravaganza occupies a special place in the consciousness of millions of Nigerian shoppers, many of whom look forward with eagerness to its commencement.

 

By extending soft loans to the merchants on its platform, Konga is hopeful of equipping the merchants with the capacity to grow their business and make more products available to shoppers ahead of the 2019 edition of Konga Yakata.

 

Speaking about the loan facility, Prince Nnamdi Ekeh, co-ceo, Konga said “Konga Yakata is around the corner and our intention is to make it the best ever in the history of the company for our customers.

 

“For all of us at Konga, nothing comes in the way of ensuring our customers are satisfied.

 

“This is why we have taken the uncommon step of providing credit facilities to merchants on the Konga platform in preparation for Konga Yakata 2019.”

 

“We understand that our customers will be looking forward to the widest assortment of genuine products across multiple categories on Konga.

 

“This is why we are committing significant funds into expanding the carrying capacity of our merchants for the sales fiesta.

 

“No other sales event comes close to Konga Yakata. Therefore, it is only fitting that Management has decided to go all out and make it a memorable one for our teeming customers,” Ekeh enthused.

 

Indeed, access to loans and credit facilities one of the encumbrances that has constantly hobbled businesses in Nigeria in their attempts to scale.

 

This remains a huge challenge for most small business owners who have limited access to credit facilities and loans with favourable interest rates.

 

This point is not lost on the management of Konga – Nigeria’s only omni-channel retail platform – which under its new owners, has achieved remarkable growth and expansion, setting it on the path of profitability.

 

“We have partnered with Simple-Fi to make these loans available at very low and convenient interest rates of 2.08% only.

 

“Merchants on the Konga platform can also take advantage of flexible repayment plans,” Ekeh concluded.

 


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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

E-Business

Scammers Target Facebook Business Accounts using Meta’s Infrastructure and Branding

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Kaspersky has discovered a new phishing scheme targeting Facebook business accounts, using legitimate Facebook infrastructure to send deceptive emails with threats of account suspension.

Cybercriminals have devised a method to use authentic Facebook functions to send fake suspension warnings to business accounts. These emails, originating from Facebook, contain alarming messages such as “24 Hours Left to Request Review. See Why”.

Clicking the email link leads to a genuine Facebook page displaying a similar warning. After that, a user is redirected to a phishing site disguised with Meta branding, reducing the time to resolve the issue from 24 to 12 hours. Finally, the phishing site initially asks for innocuous information, followed by a request for the account’s email, or phone number and password.

The attackers utilise compromised Facebook accounts to send these notifications. They change the account name to a threatening message and the profile picture to an exclamation mark, after which they create posts mentioning the targeted business accounts.

And because delivery is via the actual Facebook infrastructure, these notifications are guaranteed to reach their intended recipients.

“Even notifications that appear legitimate and come from a trusted source such as Facebook can be deceptive. It’s crucial to carefully examine the links you are prompted to follow, especially when it involves entering data or making payments. This can make a significant difference in protecting your business accounts from phishing attacks,” comments Andrey Kovtun, a security expert at Kaspersky.

 


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Lagos State Government, Interswitch Group Sign MoU Smart Health Information Platform

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The Lagos State Government has officially signed a concession agreement with one of Africa’s leading integrated technology enablers, Interswitch, through its Healthtech subsidiary, Interswitch eClat, to develop and manage the Lagos Smart Health Information Platform (LAGSHIP).

Nigeria’s healthcare industry remains grossly underfunded with several other challenges, lacking a truly national/integrated framework for healthcare service delivery due to fragmentation among health stakeholders.

A recent report from Knight Frank estimates Nigeria would require about $82 billion of investment in health-care assets to reach the global average. Healthcare institutions continue to struggle with daily operations due to a myriad of constraints and process inefficiencies.

The foregoing is the backdrop against which this latest public-private partnership milestone championed by the Lagos State Government is being launched with a view to positioning Lagos, Nigeria’s largest economic hub as a model for sub-nationals in strategic healthcare delivery interventions.

The Executive Governor of Lagos State, H.E. Babajide Olusola Sanwoolu highlighted the significance of the Lagos State Smart Health Information Platform Project as one unprecedented in Nigeria till date.

The Governor, in his remarks asserted that “The signing of the Concession Agreement between the Lagos State Government and Interswitch for the implementation of the Smart Health Information Platform (SHIP) is a ground-breaking development which signifies the start of a comprehensive technological overhaul in Lagos State’s health sector, aimed at enhancing residents’ access to healthcare services.”

Governor Sanwoolu further remarked that “I believe that this platform represents a significant and innovative approach to utilizing technology for accessing health information. It is poised to deliver numerous benefits and eliminate payment barriers, thereby encouraging citizens to actively engage with the process.”

Capitalizing on over 2 decades of experience and strategic expertise digitizing transactions and aggregating technology platforms across Africa, by virtue of this concession, Interswitch will support the State Government in securely leveraging data harnessed from electronic medical records deployed across all hospitals (public and private) and allied locations within the industry value chain, to create enhanced experiences for all stakeholders, from administrators to medical personnel, patients, as well as for better planning and policy-making, ultimately.

The strategic objective is to address gaps within the healthcare delivery system by creating an ecosystem that facilitates deeper connections between stakeholders and essentially addressing fragmentation by connecting patients to doctors, practices to public offices and patients to their medical data, thereby solving the operational problems of hospitals and healthcare providers through the robust over-arching technology infrastructure that LAGOS-SHIP represents.

Commenting after the signing ceremony, which was jointly signed by the Honourable Commissioner for Health, Dr. Akin Abayomi and the Special Adviser to The Governor on Public-Private Partnerships (PPPs), Mrs. Bukola Odoe, and witnessed by the Executive Governor and selected members of the Lagos State Executive Council at the State House, Marina, Mitchell Elegbe, Founder and Group Managing Director/Chief Executive Officer of Interswitch, remarked:

“22 years ago, we set out with a clear vision to solve social problems in Nigeria, starting by digitizing the use of cash, making it available to Nigerians just-in-time. Today, despite the incremental efforts of Interswitch and other players over the years, digital payments are estimated to be still less than 20% of total transactions in the economy.

This realization suggests that there is tremendous value, financial and otherwise, locked up in sectors and areas where government is a key player, particularly in the aspects of healthcare, transportation, and other basic social services.

This vision we had from the outset underpinned our acquisition of eClat Healthcare 5 years ago, and initiatives such as Lagos-SHIP are unfolding strategic interventions along that transformational roadmap.

We are highly delighted that after a rigorous selection process, the Lagos State Government has deemed it fit to partner with us at the Interswitch Group on this epoch-making journey to digitize the healthcare system, uniting disparate elements into one holistic platform that creates value and enhances the experience of all stakeholders, just like we’ve done in the sphere of financial services, leveraging technology.”

Also speaking at the signing ceremony, Managing Director for Interswitch eClat, Interswitch’s Healthtech Venture, Dr. Wallace Ogufere opined that the Lagos State Government’s pioneering initiative in the form of LAGOS-SHIP is significant in terms of advancing the outlook for Healthcare Management and Administration in a frontier-market such as Nigeria, and moving closer to what obtains in developed economies.

In his words “The go-live of the Lagos Smart Health Information Platform will significantly close many identified gaps in electronic medical records management, essentially addressing long-standing constraints including process inefficiencies, limited transparency and inadequacy of necessary tools and supplies, among other challenges.”

This partnership between the Lagos State Government and Interswitch represents a unique model for public-private partnership in the healthcare delivery space, and one which is expected to be a veritable reference point for national and sub-national governments in Africa going forward.


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NITDA Proposes New Act to Regulate Tech Sector, Levy 1 Percent Tax

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National Information Technology Development Agency (NITDA) is actively pushing for the passage of a new bill that would transform the agency into a regulator for Nigeria’s tech sector and grant it the power to levy a per cent tax on technology companies.

The proposed NITDA Bill, first introduced in 2021, seeks to repeal the existing NITDA Act of 2007 and enact a new National Information Technology Development Agency Act.

One of the key provisions in the bill is the introduction of a one per cent profit-before-tax levy for companies operating in the tech sector with revenues exceeding 100 million naira.

According to NITDA, the new act is necessary to provide an effective regulatory framework for the development of Nigeria’s digital economy.

The agency argues that the current act, which established NITDA as a development agency, is outdated and inadequate to oversee the rapidly growing technology industry.

“The role of NITDA under the proposed Act would have no direct conflicts with other regulators in the industry,” stated Omoba Kenneth Aigbegbele, Executive Secretary of the Citizens Watch Advocacy Initiative (CWAI), which supports the bill. “NITDA 2022 Bill will stabilise the regulatory environment in the telecom sector in Nigeria and attract the much-needed foreign direct investments as well as domestic investments in the telecom and ICT sector in the country.”

However, the bill has faced significant opposition from stakeholders within the tech ecosystem.

During a public hearing held in December 2022, 14 out of 31 submissions opposed the bill, citing concerns about its potential impact on the industry’s growth and its compatibility with other technology-related legislation, such as the proposed startup bill.

Critics argue that the one per cent tax provision could be a significant burden for smaller tech companies and startups, potentially stifling innovation and entrepreneurship.

There are also concerns about the broad regulatory powers the bill would grant NITDA, with some stakeholders fearing it could lead to overlapping or conflicting regulations with other agencies.

Despite the opposition, NITDA remains undeterred in its push for the new act.

The agency believes that the bill will not only provide a much-needed regulatory framework but also foster innovation, empower businesses, and promote the use of technology in various sectors, including education and agriculture.

The NITDA Bill has already been considered by the Federal Executive Council and is currently awaiting further action from the National Assembly. .

As the debate over the bill continues, the tech industry and stakeholders remain divided on whether the proposed changes will ultimately benefit or hinder the growth of Nigeria’s digital economy.

Credit: Leadership


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