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New Report Reveals Preference for Ease of Use, Reliability and Speed in B2B Payments by African Businesses

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A new report that includes the surveyed opinions of more than 1,000 business owners from Kenya, Nigeria, South Africa and Egypt has revealed ease of use, reliability and speed as the preferred features for African businesses when it comes to business-to-business payment methods.

When asked what they liked about their current payment methods, 29 percent of respondents chose ease of use, 28 percent chose reliability and 18 percent chose speed. More than digitised processes (10 percent), affordability (10 percent) and customisation (5 percent).

The State of B2B Payments in Africa report, which was compiled by Duplo, a business payment platform for African businesses of all sizes, also revealed that bank transfers are the most common medium for making and receiving payments between businesses today, more common than cash, cheques and mobile money.

When asked which methods their organisations used for making payments to other businesses, 85 percent of respondents chose bank transfers as one of the ways they made payments, compared to 60 percent for cash, 23 percent for cheques and 17 percent for mobile money.

When asked about receiving payments from other businesses, 62 percent said they received payments via bank transfers, compared to 59 percent for cash, 32 percent for cheques and 15 percent for mobile money.

The apparent transition from cash-based transactions highlighted in the report represents a major shift in business behaviour, with cash payments historically dominating B2B payment on the continent.

The findings of the report also suggests that beyond the clamour for digitised payments, African businesses want payment processes that are effective and efficient, rather than digital payments just for the sake of it.

The report also highlighted that 44 percent of businesses still have to wait more than 24 hours to receive payments from business customers and partners. 34 percent take up to 7 days to receive payments, 17 percent take up to 30 days and 3 percent take more than 30 days to receive business payments.

This presents a significant challenge for businesses who are often unable to maximise the opportunities available to them due to cash flow restrictions induced by complex payment flows.

According to the World Bank, B2B payments in Sub-Saharan Africa represents a $1.5 trillion market. However, the process of making and receiving payment remains largely manual, which makes it expensive and highly inefficient for businesses.

Invoices are also not standardised and they are typically issued and received manually, which increases the administrative burden on business owners, taking more time and effort that can be invested into their businesses.

Commenting on the findings of the report, Yele Oyekola, CEO and co-founder of Duplo, said, “African businesses, large and small, are the lifeblood of the continent’s economy, and making it easier for more to flow between them should be a priority.

The data from the report highlights a much-needed transition from cash-based payments but that is just the beginning. There are still various challenges in the payment process that make it difficult for businesses to maximise opportunities to scale their operations. We need to constantly innovate around these challenges to more effectively position African businesses for the growth they need to power economic growth on the continent”.


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Lagos Plastic Ban: MAN Warns of Job Losses, Closure of Businesses

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Manufacturers Association of Nigeria (MAN) has expressed concerns over the impending ban on Single-Use Plastics (SUPs) by the Lagos State Ministry of Environment.

Lagos Plastic Ban:  MAN Warns of Job Losses, Closure of Businesses

It warned that it could lead to job losses and  and lead to economic, operational, and social consequences for manufacturers, traders, recyclers, and end users.

Segun Ajayi-Kadir, director general, MAN, in a statement called on the Lagos State government to reconsider the ban, citing a lack of credible data and stakeholder engagement.

According to Ajayi-Kadir, a recent study revealed that 100% of manufacturers surveyed expressed fears of job losses and workforce restructuring if the ban is implemented.

He said, “A recent MAN-supported study evaluating the possible impacts of the Lagos State SUPs ban revealed significant adverse economic, operational, and social implications across the value chain, from manufacturers to wholesalers, traders, and end users. It has been noted that only poor and developing countries often tilt towards plastic ban as a strategy to combat environmental problems.

“A hundred percent of the manufacturers consulted expressed concern over a ban-induced workforce restructuring. Thus, several jobs will be lost in the industry if this ban were to be implemented.

“It is noteworthy to mention that there is no form of arrangement for social protection for the employees who will lose their livelihoods as a result of this ban.

“Also, there has been no form of social dialogue on the part of the government with these workers or the industry on the potential job losses.”

According to him, findings showed that 89% of operators in the plastic value chain rely on SUPs as their primary source of income with no alternative source of livelihoods, over 75% of end users, including SMEs, depend on plastic packaging with no affordable or practical alternatives, and  93% of dealers, many of whom are women, reported no prior information or social support mechanisms to cushion the impact.

Ajayi-Kadir emphasised that banning SUPs would not resolve pollution issues but merely substitute one problem for another, especially without scalable alternatives or infrastructure to support the transition.

He urged the government to focus on improving waste management infrastructure and promoting recycling, rather than imposing bans.

 

 


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Court Hands 23 Chinese Nationals 1 Year Jail Term Each for Cyberterrorism, Fraud

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A Federal High Court in Ikeja, Lagos state has sentenced 23 Chinese nationals to one year imprisonment each for their involvement in cyberterrorism and internet fraud.

Court Hands 23 Chinese Nationals 1 Year Jail Term each for Cyberterrorism, Fraud

Economic and Financial Crimes Commission (EFCC) arraigned them before Justices D.E. Osiagor, D.I. Dipeolu, and A.O. Faji on a single count of cyberterrorism and online fraud.

Dele Oyewale,  spokesperson, EFCC,  revealed that the convicted individuals were members of a cyber-fraud syndicate comprising 792 people.

He noted that the culprits were arrested on Thursday, December 19, 2024 in Lagos, during an operation known as ‘Eagle Flush.’

Oyewale stated that the individuals identified as Yu Hui (also known as A. Bin), Huang Jin Hui, Fei Fan, Lu Qiang, Hu Xi Zheng, Sun Zhi Peng, Wu Hao, Cong Bing, and Li Qiang alias Yang Huan Huan, Zheng Wei alias A. Hong, Cheng Jian, Da Tou, A Wen, Zhang Lei, Huang Zhi, Pan Jiong, Chen Wen Yuan, Jia You alias A. You, Wang Zheng Feng alias Feng, Liu San Hua, Liu Beixing, and Wen Zong Xu alias Li Long were all charged on one count of online fraud and cyber-terrorism.

One of the charges brought against Yu Hui (also known as A. Bin) claimed that he, along with others, unlawfully accessed computer systems in Lagos around December 2024 with the intent to destabilize and damage Nigeria’s economy and social structure.

According to the EFCC, this act violated Section 18(1) of the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, and is punishable under that law.

Similarly, another charge filed against Jia You, accused him of accessing computer systems with the aim of undermining and harming Nigeria’s economic and social stability.

This action was said to be in breach of both the Cybercrimes Act and the Terrorism (Prevention and Prohibition) Act, 2022.

Initially all the defendants pleaded not guilty to the charges.

However, during the court session, they pleaded  guilty.

The EFCC prosecution team comprising of Nneemeka Omewa, Babatunde Sonoiki, U.S Kyari, and B.M Isah informed the court that the defendants had reached plea bargain agreements.

The defence team confirmed this and requested the court to adopt the terms of the agreements.

Justices Osiagor, Faji, and Dipeolu found each defendant guilty and sentenced them to one year in prison, with the sentence starting from their arrest date on Tuesday, December 10, 2024.

Each convict was also fined N1 million.

Additionally, the judges ordered the Nigerian Immigration Service (NIS) to deport the convicts within seven days of completing their sentences.

All devices recovered during the operation including mobile phones, laptops, and routers were forfeited to the Nigerian government.


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Galaxy Backbone Reaffirms Commitment to Support Security Agencies with Its Vast Digital Infrastructure

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The Board, Management, and Staff of Galaxy Backbone (GBB) express profound sorrow and heartfelt condolences to the governments and people of Benue, Borno, Plateau, Anambra, and other states affected by recent waves of violent attacks and insecurity. We mourn with every family, community, and institution that has suffered the pain of loss, displacement, and trauma.

At Galaxy Backbone (GBB), we firmly believe that security is the bedrock of any thriving society. No nation can make meaningful progress when peace is threatened. These tragic incidents are not just national emergencies, they represent deep personal losses to every Nigerian, and they call for urgent, united, and technology-enabled solutions to support lasting peace.

As a Federal Government organization, entrusted with delivering secure digital infrastructure and smart technology solutions to public institutions across Nigeria, Galaxy Backbone remains resolute in its commitment to supporting state governments and security agencies through cutting-edge digital platforms that enable proactive and intelligent security management.

We also acknowledge and commend the visionary leadership of His Excellency, President Bola Ahmed Tinubu, GCFR, and the concerted efforts of the Federal Government of Nigeria in responding decisively to the security challenges facing parts of the country. The President’s unwavering commitment to peace, safety, and national unity under the Renewed Hope Agenda is evident in the bold steps being taken to restore order and build a more secure Nigeria.

Through our Safe City Security Solutions, GBB offers an integrated suite of smart surveillance systems, real-time data analytics, emergency communication networks, and AI-enabled threat detection tools. These solutions are specifically designed to enhance operational capabilities, strengthen coordination across security agencies, and empower informed decision-making in high-risk environments.

GBB stands ready to partner with both state governments and security agencies that are committed to building safer, smarter, and more resilient communities. We believe that technology must lead the charge in safeguarding lives, and we are proud to serve as a trusted digital ally in Nigeria’s journey toward modern, tech-enabled public safety.

Together, we can bolster early warning systems, expand surveillance coverage, enable faster emergency responses, and ensure that every Nigerian lives in a country where peace and prosperity are not aspirations, but realities.

May the souls of the departed rest in peace. And may strength, healing, and hope return to the hearts and homes of all those affected.

Galaxy Backbone remains aligned with the vision of a secure, digitally connected, and inclusive Nigeria, where every citizen has the freedom to live, work, and dream in peace.


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